Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Finance Soldiers return from Iraq

FORT RILEY -- Approximately 20 Soldiers from Detachment F, 15th Financial Management Company, returned from a 14-month deployment to Iraq this weekend and will be reunited with their Families tonight in a 6:45 p.m. ceremony at Building 88312 on Custer Hill. The public is invited to attend.

While in Iraq, the unit was assigned to 82nd Financial Management Company, Special Troops Battalion, 3rd Sustainment Brigade out of Fort Stewart, Ga. The detachment conducted operations out of Forward Operating Base Warrior in Kirkuk and Contingency Operating Base Endurance in Q-West.

The detachment's commercial vendors section disbursed more than $2.5 million in cash payments to fulfill contracts; more than $36 million via electronic funds transfer and more than $22.1 million to paying agents in support of programs such as Sons of Iraq, military transition teams and provincial reconstruction teams. It was the first and only CVS section in Iraq making EFT payments in Iraqi Dinar to contractors with local banks in Iraq.

The unit's military pay section processed more than 8,400 military pay documents and educated Soldiers and S-1s on the implementation of the new Eagle Cash card program - the prominent method for Soldiers to obtain cash in theater.

The detachment's disbursement section disbursed more than $15.4 million in casual pays, check cashing and Eagle Cash card sales; more than $36,300 in claims payments to local Iraqis and collected more than $5.7 million for the savings deposit program and Eagle Cash card loads. The section also conducted more than 150 funding missions, claims missions and finance support team missions to eight different outlying FOBs in support of more than 14,000 Soldiers in units operating in Multi-National Division - North.

CJOnline / The Topeka Capital-Journal - Finance soldiers return from Iraq

U.S. Negotiators to return to Iraq for security talks

U.S. negotiators will return to Baghdad soon for more talks with Iraq on a security deal that has bogged down over the issue of immunity for U.S. troops.

Critically for both sides, a U.N. mandate that governs the presence of U.S. forces in Iraq expires at the end of the year. "If we do not reach an agreement, and this is a very conceivable possibility -- If there is no agreement then the alternative is to go to the (U.N.) Security Council and ask for an extension of the mandate," Iraqi Foreign Minister Hoshiyar Zebari told al Arabiya t.e.l.e.vision in an interview.

A U.S. embassy spokeswoman in Baghdad said David Satterfield, the State Department's coordinator on Iraq, and Brett McGurk, an official at the National Security Council, would arrive soon in Baghdad. She declined to be more specific.

Iraqi officials have said the government was waiting for the United States to respond to its latest proposals on immunity. They have said they would be prepared for legal immunity to apply to U.S. troops who were on military bases or on missions. But if there was evidence of intentional wrongdoing by troops, then jurisdiction should be decided by a committee, they say.

Washington wants to protect its soldiers from being tried in Iraqi courts, terms it also requires in many other countries where it has bases.

But even if agreement on the security deal is reached in the coming weeks, it will still need the approval of Iraq's parliament, where reaching consensus in the past on contentious issues has proven difficult.

Prime Minister Nuri al-Maliki has said the United States has agreed all American troops would leave Iraq by the end of 2011 under the pact. U.S. officials have declined to confirm details of the agreement until it is concluded. Iraqi MPs warned the deal would come under close scrutiny. "Due to the sensitivity of the issue, the arguments in parliament will be acute," said Dhafer al-Ani, a senior politician with the main Sunni Arab bloc, adding he would be surprised if the deal passed before the year-end.

Hassan al-Sunaid, a legislator from Maliki's Dawa party, said the deal could be passed before the U.N. mandate expired if it did not infringe on Iraqi sovereignty and if there was a clear timetable for U.S. troops to withdraw.

But blanket immunity for U.S. troops would be an obstacle, he added.

"CRITICAL" SITUATION

Speaking on Iraqi t.e.l.e.vision last week, Maliki said a "critical" situation awaited the United States and Iraq if a deal was not signed before the U.N. mandate expires. He said the U.N. mandate would only be extended on Iraq's terms.

The Pentagon will pull 8,000 more soldiers from Iraq by February, leaving 138,000 troops deployed there. All five extra combat brigades sent to Iraq last year completed their withdrawal in July and have not been replaced. Despite a drop in overall violence, the Bush administration has taken a cautious approach to troop cuts and any decision on a major withdrawal will be left to the next U.S. president, who takes office in January.

Maliki has vowed that no foreigners will receive "absolute" immunity. There have been a number of high-profile incidents involving American soldiers killing or abusing Iraqis since the U.S.-led invasion that toppled Saddam Hussein in 2003.

Iraqi officials say such incidents have been reflected in the debate over immunity for U.S. troops.

http://pukmedia.com/english/index.ph...=6614&Itemid=1

The ****utive Chairman of the Association of Iraqi banks: Auction sale of currencies from banks, not the functions of the Central Bank

****utive Director of the Association of Banks (Abdul Aziz al-Hassoun): The demand for shares of private banks in the stock market was a result of financial disclosure by banks of information and knowledge necessary to speculators and investors and thereby, banks took this role in the investment .. And Abdul Aziz al-Hassoun said in an interview with us: that the private Iraqi banks resurfaced in 1991 after the legislation that allows them to do so and since then has worked on the introduction of private banks and the application of modern software to work and the implementation of banking transactions, but what of the dangers of starting Jabhth blockade Economic and then referred the new reality without taking a full opportunity to play its role .. Asked us about the reality of economic globalization and the introduction of appropriate technology for the bank to work before coming to the globalization of banking could lead to speculation in the market .. Hassoun said:

We are in the process of the use of sophisticated software that allows for the implementation of special operations and withdrawal of deposit plastic cards and private banks in Iraq built environment and other concepts now find we are unable to apply now in Iraq after the coming stages of games long Vbataqat example of a global and not a local Linked to foreign networks with which it can implement the transactions .. However, since the private Iraqi banks began using sophisticated software, they are moving in this direction and to seek access to these applications and transactions and there is a private company that started its work techniques Osst a company of a group of private banks to create a way to use modern communications networks, including the use of credit cards and other Cards and provide services.

The reason for the increase of bank shares in the market after Iraq and the interest on that night?

increase in share trading and investments for the night Morod investment account is the gateway to take any specific banks umpteenth in the proceedings, both from cash advance representative of the Iraqi Central Bank represented the financial and commodity finance ministry umpteenth banks in the program to reduce the causes of inflation and was therefore banks to the (deposit Night), which arrived (20%) and therefore the market conditions were also ready to shoulder the burden of high credit banks appealed to the night deposit at the Central Bank of Iraq and get comfortable on interest for deposit secured better than going to credit risk in the market to be least effective and .

The constraints faced by private banks?

are not obstacles but is a general situation, according to the official announcement that we follow the market economy country and this means a capital persists, and touring the market and Iguens opportunity, we are not in fact an economic free .. Because it needs to be laws and our civil law and private banks No. 54 of 2004, this law the banking systems work well, but there are gaps and conflicting interpretations of the law, he wrote "either and no conflict of interpretation, which was the first time in Iraq because there was no Law.

Are banks able to raise the eligibility level of performance that was expected of it? Why have not lived up to those government?

private banks in the process of growth and as I have said is a new experience needs time and time that this would lead and successful experience in other countries, confidence comes with the continued work and success and the private banks moving in the right direction now in Iraq and the growing role in the exercise of real investment and that is Has prompted the increased equity in the Iraqi market and the financial health of this phenomenon developed revive the economy in general in Iraq.

The stock has traded private banks in the stock market will be on other sectors, due to interaction with large banks.

How do you see the demand for deposit in private banks?

certainly become weak because the money owners are looking for an opportunity to returns of their funds and private banks dealing in deviation and prefers traditional deposits, which are not paid by the utility and most of the benefits we pay equal to the savings accounts and different time between 2-8%, some of which paid 15% of deposits for two years and there is a distance between them and the benefits Lending of up to 25% then there is a large .. The custody of all banks to credit and lending because of the security situation because there are no sites that provide the means banks across the soft credits.

Are banks civil eligible to receive the heads of Arab and foreign funds?

foreign capital does not provide and not to delay but if it is ready to play a real role in adding new things to banks and real We are dealing with Arab banks, but foreign banks did not open its doors for example, in New York as the dollar in London center sterling yen in Tokyo and Frankfurt euro Must be banks and the accounts of Iraqi facilities, with no regrets, especially in New York there are no facilities of any Iraqi banks to open accounts or credit with banks in New York with the presence of America did not come here any Bank of America: There is a large inquiry .. We expect an increase in people deal with private banks with improved security situation and economic openness if it is stabilized the situation and the security of people's lives and money, we give our money to preserve them in banks.

How many private banks in Iraq and problems faced by?

arrived in the private banks to 30 banks, including branches of banks including 3 branches of foreign banks, Arab and foreign banks are the remaining Iraqi, regardless of external contributions to their capital stock companies, but the Iraqi provinces, there is a private bank and one working outside Baghdad, a bank (the Kurdistan Bank) Based in Irbil and Mosul as well as bank and the rest in Baghdad, all banks and branches scattered in all Iraqi cities .. There are no problems with depositors and investors, but our problems is to allow them to do their work more freely and reduce the reservations imposed by the general conditions and what is happening in the market .. For example, the central bank maintains day auction for the sale of foreign currency that should not continue the task of banks and not the Central Bank of Iraq.

What is the extent of coordination between you and government banks?

both working together are deposited in the account at the Rafidain Bank instruments drawn to the order of the private banks, and vice versa and the close relationship developed and learned from this profession that is deposited to the bank believes the work of the staff and satisfied if their deposit if no deposit is not convinced that the bank must be reflected Eligible for deposit .. We all look to banks and note the general atmosphere and how it works bank and the movement of personnel and the overall impression if we were convinced we bid farewell and vice versa.

And the system work in the private banks to take a comfortable with for auditors imposed on workers to follow certain behaviors of the auditors and I think that the commitment to creating an atmosphere more expansive in other banks.

Do you believe the information given to banks and the civil right by definition?

Yes .. Information cared much for banks since Ncwha and still admire the truth and to the media.

http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Papin meet a number of Iraqi businessmen and to address Iraq's debts and money in America

Mr. Ghalib Ali Baban Minister of Planning and Development Cooperation importance of the private sector in Iraq and its role in the economy.

He explained in a speech delivered in a number of Iraqi businessmen from the Chamber of Commerce and the Federation of contractors and the Union of Industrialists importance to the exchange of views and ideas and discussions on the concerns and problems suffered by the Iraqi private sector who believe in the importance of its role in building the Iraqi economy, especially in the next term will see the development of the sector will be Iraqi private very large role and put our brothers Iraqi businessmen and other special activities in the form of this role and we hope to move their suffering and their perceptions and aspirations to economic decision-makers in the Iraqi government.

He added that such meetings are very important and I firmly believe that the business class are the creators of the most precious thing has Iraqi society should offer them the opportunity to contribute in building their country and ease the work that is burdened by the State at the present time emphasizing the importance of giving the Iraqi private sector greater role In order to play its part in the development of the Iraqi economy.

Baban said that this fact is clear and undeniable For our part in the Ministry of Planning we have done everything we have we allocate the most Salahitna that we had to ministers and governors today to become governor and the minister the right to exchange the right to launch quickly and effectively deal with projects of his ministry without reference to the Ministry of Planning and we have For example, that strike such behavior.

He said red tape is disabled for the private sector and government activity in time n, adding this is not the only problem facing the Iraqi private sector, there are problems and constraints and concerns of many diverse subject of discussions, and the minister said the census would be in time we are determined to implement this Machine time and the ministry move as a stronger and faster to meet the requirements of the census to be better implemented in Iraq censuses in terms of accuracy and in terms of figures given by Mothagip.

On the debt Baban said there were some difficulties due to the former regime and some asking us for compensation and some debts and asking us, but most Iraqi funds deposited in the United States and there is a presidential veto from Bush himself to protect these funds, but this does not mean it is not at risk, possibly in the recent future I think The Iraqi government is doing all it can in terms of legal and political protection money and the Iraqi government to do all that is available and all that is possible to protect these funds and keep the Iraqi people in the ownership and use in development projects and for the benefit of the Iraqi.
http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Writer likely vote on the law of provincial elections on Wednesday

Most likely leader of the Shiite Alliance that "a vote on the law of provincial elections on Wednesday," but noted that "the fourth point of the paper is still the subject of recent controversy."

The writer said in an interview with "Uzmatik" today, Tuesday, "There is a willingness of most of the political blocs to vote on the election law of provincial councils after it had been agreed to vote on a final paper."
He went on, saying "The fourth point of law is still controversial, however, there are a lot of political blocs and some parties in the assembly coordination and agreed to vote on the paragraph that states ensure the local government in Kirkuk, creating the necessary requirements for the success of the functions of the Committee of the components that will determine the fate of the city Kirkuk, in collaboration with stakeholders. "

Designation of assembly and release the coordination of all the parliamentary forces, which voted to approve the election law in the twenty-second month of July, the Sadrists and Fadhila party, the Iraqi List, the national reform movement, the independent Arab bloc, and some independent MPs.

He went on, saying that "discussions will continue today to bring together the viewpoints," pointing out that "the law of elections of provincial councils out of the legal dimension, and engaged in a political dimension."

http://translate.google.co.uk/transl...hl=en&ie=UTF-8

Dana Gas Awarded “Company of the Year”

Dana Gas, the Middle East's first and largest regional private-sector natural gas company, has been designated “UAE Company of the Year” as part of ACQ Magazine’s First Annual Country Awards for Achievement.

The award comes in recognition of Dana Gas’ aggressive growth strategy, which came to light following its acquisition of Cen****** Energy at the beginning of 2007, and the company’s subsequent expansion into the upstream gas sector with its projects in the Kurdistan region of Iraq.

Dana Gas General Manager Rashid Al Jarwan said this award was a testament to the achievements of Dana Gas in a period of less than two years of operations.

“We thank ACQ magazine for its recognition of Dana Gas’ achievements and its rapid progress since the company acquired Cen****** Energy – now Dana Gas Egypt – and the many opportunities that this deal created for Dana Gas,” Al Jarwan said. “It is a clear indication that experts and industry observers alike have seen the impact of such a strategic opportunity on the company’s direction, and the ability of the directors and the management to fortify the unique position of Dana Gas as a company from the region, by the region and for the region.”

ACQ magazine’s Editor, Charlotte Abbott, explained the mechanism behind the selection criteria for the awards.

“We submitted the categories to an independent panel and to other companies that have contributed to the magazine in past editions,” said Charlotte. “They voted on those deals that the magazine has reported on, choosing those which they believed stood out from the crowd in the last 12 months.”

ACQ magazine is a specialized business publication that focuses on news of major deals, launches and partnerships, new financing options, innovative legal structures, region-specific reviews, and other topics related to the world of mergers and acquisitions (M&A). Its readership of approximately 20,000 comprises Europe’s leading corporate finance professionals.

Dana Gas currently has operations in the UAE, Egypt and Iraq, with investments exceeding US$500 million across the region in 2008. In addition to its existing and upcoming UAE projects, and its current oil and gas operations in the Nile Delta and Upper Egypt, the company is undertaking an aggressive US$170 million drilling campaign in Egypt.

Dana Gas has also achieved over 90% completion on its joint venture project with Crescent Petroleum to produce and transport natural gas from the Khor Mor field in the Kurdistan region of Iraq, and was recently awarded a 461 million square foot site to develop the Kurdistan Gas City.

http://www.arabianbusiness.com/press...il/28072?ln=en

Talabani: Will resolve the issue of the Election Law today

The MP, but Talabani of Kurdistan Alliance expects to resolve the issue of Kirkuk in the election law today, in preparation for the law to the parliament and vote.

Said Talabani told the independent press (Iba) today, Wednesday, the representative of UN Secretary General Stefan de Mistura met this morning the President of the Kurdistan Alliance bloc in parliament, Fouad Massoum to discuss an agreement on access to the satisfaction of all parties on paragraph (4) of Article (24) Elections Act, which introduced the law to impede a vote.

Talabani refused to give further details, noting that the regions and provinces to meet with the legal committee in an effort to reach consensus and take a final decision could be issued a report on the electoral law and voting on it as soon as possible and stressed that there is a kind of rapprochement in this regard.

The fourth paragraph of Article 24 and Acialpbmhafezp Kirkuk is the last hurdle that stands in front of voting on the election law that was agreed on all other contentious points.

http://66.102.9.104/translate_c?hl=e...rUhqPTguwi9aBw

Iraqi Kurdish official on talks with US officials

Falah Mustafa, the head of the Kurdish Foreign Relations Department in the local government of the Kurdistan Region in Iraq has stressed that "the Kurdish leadership, including the government of the region, is determined to use dialogue as its method and remind others that today's Iraq is not the Iraq of previous regimes, but a federal, democratic, multilateral country and that the Kurds are major partners in the political process. We have contributed and will continue to contribute to the political process."

From his headquarters in the regional capital Irbil, Mustafa told Asharq Al-Awsat: "We know that some politicians in the federal government and the Council of Deputies [Parliament] deliberately take positions that do not show respect for the experience of Iraq's Kurdistan and do not wish to see the region and Kurdish people prosper and progress. But we shall persevere in our experience and persist in our honest work. We have embraced the federal system by choice and out of our free will and we have chosen to be partners in the federal government. We are the original participants in this experiment and we will continue to insist on a democratic Iraq. Even the motto of the Kurdish revolution was "Freedom for Kurdistan and democracy for Iraq." He pointed out that "those who wish to return Iraq to the old days must realize that they are taking the country on a dangerous slippery path and we shall do our best to prevent such disastrous steps."

The Kurdish official returned to Iraq the day before yesterday [19 September] from a tour of the United States, during which he and the Kurdish region's representative in Washington Qubad Talabani attended the conferences of the Republican and Democratic parties respectively. He said: "We have attended the meetings and conferences of the two parties and we met in Washington with US officials from the State Department and Ministry of Defense and we discussed the situation in Iraq and the Kurdish region."

The head of the Department of Foreign Relations in the Kurdish region's government explained: "We discussed the Kurdish region's fears and the feeling of the region's government regarding the absence of real participation in the decision-making process in Iraq. Our position is constant and clear regarding all the issues from which Iraq is suffering, including the latest events." He also noted that "the strategic agreement between Iraq and the United States was discussed."

Mustafa stressed that "the Kurdish leadership wishes to see the strategic agreement between the United States and Iraq signed" and that the leadership "supports the agreement, as it puts the US forces' presence and relations with the US Administration on a legal footing and lays down the confines of the US forces' conduct and their deployment in Iraq, while emphasizing respect for the sovereignty of the state."

The Kurdish official added: "Our position is clear. We wish to confirm that the Kurdistan region is an important part of a new democratic multilateral Iraq based on the constitution approved by all political, national, and religious shades of the Iraqi people. We as Kurds have participated and we continue to participate in building Iraq's civilization and we believe the constitution is the arbiter. There are some who do not understand the meaning of a federal Iraq, as the experience is still new to the country, and there are some who do not want to believe in this experience. But we shall continue to work patiently with others to prove to them that the new regime is multilateral and democratic and that the success of the political process is contingent on respect for these foundations and for federalism. It is in the interest of Iraq and the entire Iraqi people's prosperity and progress."

Concerning Prime Minister Nuri al-Maliki's call for "establishing a strong central government, which is stronger than the federal system, to protect the country," Falah Mustafa said: "What we want of the federal government is to be strong in its performance, not its military power. We want the federal government to fulfill its promises to the Iraqi people and provide the necessary services, education, and progress, and for the Iraqi citizen to enjoy a good standard of living, commensurate with the country's wealth. We want the federal government to create job opportunities and create a prosperous, civilized, progressive Iraq in industry, education, culture, and technological development. This is the meaning of power as we understand it, not the military power from which the Iraqi people have suffered. The military power of previous regimes, particularly Saddam Hussein's, was only used against the Iraqi people. It was practiced forcefully and wildly against our Kurdish people and cities. If the federal government wishes to be interested in this kind of power, we say it was not a successful experience. The previous regime practiced its power against the Iraqi people and against us to impose its power, domination, and arrogance in a dictatorial manner, but it did not succeed. We in Kurdistan want the power of the federal government's performance; and when the federated parts or regions are strong, the federal government will surely be strong as a result of the strength, prosperity, and progress of its regions."

The Kurdish official disclosed that "the missing link in the relation between the Kurdish region and the federal government is that the federal government does not respect the rights and prerogatives that the constitution confers on regional governments. But we shall continue our dialogue and coordination with the federal government with a view to reaching common ground."

PUKmedia :: English - Iraqi Kurdish official on talks with US officials

Urgent: Iraq's Parliament ending the dispute over Article IV Agreement political blocs on the conduct of the elections in Kirkuk

Said the silver head of the parliamentary party MP Hassan Al Shammari "The political blocs have reached a compromise formula with Article IV of the political blocs on the conduct of the elections in Kirkuk, and that he did not remains to determine the Independent Electoral Commission of a date for provincial elections."

And in an interview with Al Shammari "Uzmatik" that the "Article IV has become the following: cost federal and local government in the province of Kirkuk to create the prerequisites necessary for the success of the work of the Commission responsible for monitoring the agreement and in accordance with the constitution."

The fourth paragraph of the paper agreement between the political blocs around Kirkuk, which was a bone of contention between the Kurdistan Alliance and coordinating the parliamentary assembly, to "ensure the local government in Kirkuk, creating the necessary requirements for the success of the functions of the Commission in cooperation with the concerned parties in accordance with the Constitution."

He was a member of the independent Arab bloc in parliament, Iraq's al-Mutlaq had threatened in an interview with "Uzmatik" on Wednesday "the withdrawal of assembly coordination parliament session in the event of adoption of the electoral law, as the last to give wide powers of local government and the marginalization of the role of the central government."

Designation of assembly and release the coordination of all the parliamentary forces, which voted to approve the election law in the twenty-second month of July, the Sadrists and Fadhila party, the Iraqi List, the national reform movement, the independent Arab bloc, and some independent MPs.

He noted that the Shemari, "also amendment was the article on the excesses that were focused on Kirkuk and become a new form all parts of Iraq."

http://66.102.9.104/translate_c?hl=e...9hSUpxIFkmH9Pg

Iraqi government plans to take over security across the country this year

Political forces expressed great optimism and the possibilities for the development of readiness of Iraqi security forces to various terms of reference.

The confirmed number of members of parliament that the government is determined to take over security across Iraq this year to complete sovereignty.

Translated version of http://www.radiodijla.com/cgi-bin/news/news_item.pl?id=2008-09-24%2010:51:41