Thread: Iraq/Dinar News. 09/05 to 01/14/07

The massive security in Kirkuk to curb the escalation of violence
[16:51, 07 Oct 2006]
PNA-forces began to Iraqi army and police today, Saturday, a wide-ranging security in Kirkuk, where the curfew since yesterday evening, Friday, in order to curb acts of violence which saw an escalation Mahloza in recent times.
And Iraqi security source announced that "this operation is the first of its kind in Kirkuk, in which 14 thousand members of the Iraqi army and police with the logistical and information by the American army."
According to France Press that eyewitnesses reported that the searches and raids started in the revival of central and south-west and north of the city.
The source confirmed that "the operation aimed at arresting wanted persons and the confiscation of unlicensed weapons to reduce the armed operations in the city."
The streets, and seemed completely free with limited presence of security men at the sites of various barriers.
Reference is made to dig trenches surrounding the city outlets, in order to prevent the entry of car bombs.
A security source announced Friday evening closing outlets Kirkuk and comprehensive curfew was imposed from six p.m. until "further notice".
He said Captain Jassim Khader from the police command had "embarked on army and police forces, as of six p.m. today (Friday) and until further notice, to impose a curfew in the city. The operation will prevent vehicles and persons "without specifying the date for the end of the ban.
Police began from the first day of Ramadan, the imposition of a curfew in the city between nine at night and six in order to prevent armed attacks have targeted civilians in Kirkuk also imposed a curfew on the road to Kirkuk-Tikrit between six p.m. and six at dawn three days ago.
A number of people expressed concern the continuing curfews and the Implications for Business.
He said Taqi Azad Mahmoud (56 years old), a Kurd from Kirkuk to the population "of the curfew came as a surprise and without any prior warning."
He added Taqi who works in the sale of vegetables that "our trade depends on the import of vegetables from the neighboring countries such as Turkey, Iran (...) Prolonged curfews and cause us considerable material damage. "
For his part, Ogi said Jenkins, owner of shop selling noodles, "Mahlatna stockpiled goods occasion of the month of Ramadan, this ban has caused us heavy losses."
The military operation in Kirkuk, the center of the continuation of the "forward together" in Baghdad since June last to stop sectarian violence the country has experienced recently.
In spite of the security plans and military operations. The bloody day of violence killed 17 people, including a number of security elements in separate attacks in Baghdad, Baquba and Tall Afar.
In Tall Afar, near the Iraqi-Syrian border a police source announced the killing of eight people, including four army troops and wounding six others in a suicide truck bomb attack targeted a military site in the city, which is located north-west of Iraq.
The source, who asked to remain anonymous said that "a suicide truck bomb stormed the boarding house used by the Iraqi army as a location for the control and monitoring peace in the center of Tall Afar district (450 km north of Baghdad), killing eight people, including four soldiers and injuring six others, including four soldiers."
In Baghdad, A source at the Interior Ministry, "killing two workers furnaces and a third was injured when they were attacked by unidentified gunmen in the place of work in the Mansour district" in the west of the capital.
He said that "armed men alighted from the car and opened fire on workers ovens Mesopotamia, killing two and wounding a third."
In Alexandria (60 km south of Baghdad), a police source said that "two people were killed and four others were injured in the crash of modern missiles at the village this morning," Saturday.
The security source confirmed that finding the "five unidentified bodies lying in one place in the labs, south-east of Baghdad. shot and killed by the effects of torture. "
In Suwayrah (60 km south-east of Baghdad), a source in Medicine showed that police patrols, "found the three bodies in the rivers Tigris and salted."
In Baquba (60 km north-east of Baghdad), a police source said that "the four people killed by gunmen in two separate attacks in the city market in the industrial district, southwest death. "
He added that "one person was killed and eight others fall three mortar shells at the station to transport passengers in the retail district, west of Baquba."

Translated version of http://www.peyamner.com/article.php?id=65255&lang=arabic

Baghdad Time: 01:24am, 10/08/2006 ~ market is closed | $1 USD = 1472.63 IQD ^

Kurdistan: Environment ministry staff training in USA

Posted on Friday, October 06 @ 03:46:45 PDT

Topic: Kurdistan

Kurdistan Minister of Environment decided to send the staff on a special environmental-training course in the United States.

Kurdish Regional Government's Minister of Environment Dara Muhamed Amin met with Dr. Mouayad Abdulrahman, quality control advisor in Council of Ministries, and Dr. Saman Shali, president of the National Congress of Kurds in America, local paper reported last week.
They discussed the need of opening a number of environmental labs to benefit from the experience of other countries in the field of environmental protection. Minister Amin decided to send the staff on a special environmental-training course in the United States.

In a different meeting with Kurdistan's Green Peace president Anwar Abdulah, Minister Amin confirmed cooperation and coordination between the ministry and organizations working in the environmental field.

Source: The Kurdish Globe

LawkSalih.Com - Environment ministry staff training in USA

Originally Posted by Offshore-Wealth.com

Exactly,

The two deals in Kurdistan I have knowledge of are both based on dollar, so it will not have any impact when revalue is completed next week. Oh, did I say that? LOL

Good luck to all, Mike

This means it is it to me.

BTW, Just moved 40 BS Post. To The Crazy Thread.

BAGHDAD, Iraq - Thousands of Iraqi troops launched a crackdown in Kirkuk on Saturday, ordering residents to stay in their homes in an effort to put down violence that has swelled in the north amid efforts to rein in bloodshed in Baghdad.


Elsewhere in the north, a suicide bomber rammed a police checkpoint with an explosives-packed car, killing 14 people in the town of Tal Afar. It was the deadliest attack in a day that saw 26 Iraqis killed around the country.

In March,
President Bush had pointed to Tal Afar as an example of progress made in bringing security to
Iraq after a major U.S. offensive swept through the town, 30 miles from the Syrian border.

But after a period of quiet, Saturday's was the fourth suicide attack in the town in the past three weeks.

Thousands of U.S. and Iraqi troops have been carrying out an intensified sweep of Baghdad since August, searching neighborhood by neighborhood to root out insurgents and militias who have killed thousands this year.

But at the same time, shootings, bombings and other attacks has been swelling in northern areas such as Kirkuk and Mosul, the capital of the province where Tal Afar is located — though the bloodshed has not been on the scale seen in Baghdad.

The U.S. military announced Saturday that a U.S. soldier was killed Friday near Beiji, about 60 miles southwest of Kirkuk.

Authorities in Kirkuk this week completed digging a 10-mile trench around the city's southern and western edges aimed at cutting off side roads to prevent car bombs from being brought into the city. Intensified checkpoints were set up on city entrances that remained.

On Saturday, authorities announced a curfew had been extended to round-the-clock "until further notice," ordering all residents off the streets, said Kirkuk police chief Lt. Gen. Sherko Shaker.

"This operation comes as a measure to cleansing Kirkuk from weapons, as well to prevent the militants from having any chance to reorganize their abilities," he said. "We shouldn't give them any chance to rest."

Troops conducted searches and raids on Saturday in the southern and western sectors of the city, where most of the Sunni Arab population is centered. So far, 150 suspected Sunni insurgents have been arrested and more than 220 assault rifles have been seized, Shaker said.

Kirkuk, located 180 miles north of Baghdad, is a major oil center and the focus of an ongoing struggle for power between its large Sunni and Kurdish populations.

The Kurds want to include the city in their autonomous zone further north and are working to resettle thousands of Kurds who were driven out during the regime of
Saddam Hussein and replaced with Sunni Arabs.

Al-Qaida in Iraq and another major Sunni group, Ansar al-Sunna, have increased their presence in regions west of the city, said Sheik Abdul-Rahman al-Munshid, a top sheik in the Sunni Obeid tribe. He blamed Kurdish efforts in the city for fueling Sunni Arab support for insurgents.

"The demands of the Kurdish political forces and their attempt ... to work to make Kirkuk part of the northern region that have created worry among the non-Kurdish groups," he said.

Meanwhile, a suicide bomber rammed an explosives-packed vehicle into a police checkpoint in Tal Afar, killing four policemen and 10 civilians. Some of them died when parts of nearby homes collapsed from the force of the blast.

In nearby Mosul, gunmen killed a woman whose son works with the city police, Mosul police Col. Abdel-Karim al-Jubouri said. A Kurdish lawyer was shot to death in front of his home in the evening.

Gunmen killed five people in separate shooting attacks on roads northwest of Mosul, including three Iraqis who worked at a nearby military base.

In Baghdad on Saturday, gunmen sprayed a Shiite-owned bakery in the Mansour district with bullets, killing two people and wounding one.

More bodies with bound hands and signs of torture on them were found; two were in the Tigris River in downtown Baghdad and five others were dumped in a southeastern suburb.

Meanwhile, the U.S. command said it had captured 28 suspected terrorists in a series of nine raids early Tuesday in the Jisr Diyala neighborhood of southeastern Baghdad. Among those were three "high value individuals, including the No. 9 person on the division's high-value target list."

___

Associated Press writer Yahya Barzanji in Sulaimaniyah, Iraq contributed to this report.

Just to be clear, I was not knocking anyone on this forum or the info they kindly provide. Just commenting that when trying to decipher any news or rumor coming out of Iraq, we have to keep in mind that we have to assume they are doing their best to manage what news the world gets and when. These are high stakes and if everyone knew which laws were passed etc. people would put 2 and 2 together and wreak havoc. They obviously want to keep people aprised and optimistic with the positive steps they are making, but at the same time keeping things clouded enough to prevent problems.

Again we are lucky to have all the news here in one place and everyones analysis, rumors and predictions so we can have a clearer picture of what is going on and when.

Personally, I would be surprised if they did not get everything done before the end of Ramadan they have much to gain to get this done and much more to lose if they don't

Peace,
Michael

P.S.
weeeere gonna be riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiatch biaaaaaaaaaaaaaaaaaaatch

Originally Posted by neno

This means it is it to me.

...ME TOO!! Mike wouldn't tease us! (Right Mike?!)

I like this part of this article. I don't know if this has been posted before, I am sure it has but I still like reading this part.

Zubaidi : I stated that I suggest to my brother, Mr. Governor of the Central Bank which is responsible for monetary policy, Klin to have a delegation with me and Oil Minister and the Governor of the Central Bank met with the International Monetary In one of the meetings proposed to the governor to strengthen the Iraqi dinar is dear and decent Iraq as history, civilization, at least that was the Iraqi dinar equivalent of three dollars and little to equate dollars on the psychological Even when sorrow for one hundred dinars, you assume Bscheholh hundred dollars and not with a corresponding cent dollars today any bearing hundred and fifty thousand dinars, in addition to the strength of the economy and, of course, the governor has another view.


Translated version of http://www.alsharqiya.com/display.asp?fname=aboutus%5C2006%5C008.txt&storyti tle=

D. Weight : Ajami debt cancellation for Iraq illogical

(Voice of Iraq) - 08-10-2006

Al Kuwait is not a permanent member of the Paris Club and are free to participate or not »
D. Weight : Ajami debt cancellation for Iraq illogical, we are not bound by
The Professor of International Law at the University of Kuwait d. Weight Saad Al-Ajmi was announced by the Finance Minister Badr Al-Humaidi told Al-Sharq Al Watan »yesterday on the Kuwaiti debts on Iraq from the decision to drop the debt of Iraq or not is a sovereign decision particular due to the appreciation of Kuwait itself represented the executive and legislative authority through the issuance of village n required in this regard.
He added that the Paris Club is an informal gathering for a group of creditors and has no statute like other international financial organizations such as the International Monetary Fund and the World Bank, He pointed out that the birth of this club was to address the problems of stopping the payment of the public debt of the States as was the reaction of the Argentine financial crisis that occurred in 1956 and led them to stop payment of its foreign debt.
He pointed out that the club's membership includes 19 permanent members and these countries are the most plastic of the world is : Al United States of America and the United Kingdom, Switzerland, Sweden, Spain, Russia and the federal Norway, the Netherlands, Japan, Italy, Ireland, Germany, France, Finland, Denmark, Canada, Belgium, Australia and Austria ».
He added that there are other creditor not invited, in some cases, to participate in the meetings of the club and accept the participation of these countries needed to work in good faith to follow the principles and rules of the club relevant, noting that this is what is happening now to Kuwait to discuss Iraq's debts, as well as absolute freedom in the legal acceptance or rejection of this call.
He said that Kuwait has accepted such an invitation to discuss the debt on another and agreed to reschedule the debt of some of the city have, such Mauritania in 1985 and the former Yugoslavia in the years 1985, 1986, in 1987, Egypt in 1987 and Jordan in 1989 and Croatia in 1995 and Macedonia in .1995
And, he added. Ajami said that the cancellation of debt to the Kuwaiti Iraq or re-financing is illogical and solutions with enormous financial cost, He pointed out that Kuwait is a creditor of Iraq up to a huge amount of billions of dollars and is not obliged to cancel the debt it can reschedule or cancel that part of it was exposed to external pressure can not face.
He added that the current situation in Iraq recognized American and British officials warns of possible impending civil war, if not already signed, that will be the first results of dividing Iraq into more than one that leads to the difficulty of determining the beneficiary already dropping these debts if the downed.
And on the principles of the Paris Club said. Ajami that the club will take its decisions on a case-by-case basis, depending on the circumstances of each case.
He added that the club does not issue any decision unless all creditor nations participating in the ad hoc meeting to discuss a specific case, indicating that the majority decision is not necessary and minority has no basis of the law as it should be for all of the creditor countries participating in the meeting of the club to consider the particular case.
He stressed that the non-participation in the Paris Club-either because of lack of membership in the club or had not an invitation to participate in the meetings of the club, or sent them an invitation and refused to participate - will not be bound by any decision taken by the club even if the decision was unanimous for it by the States participating in the meetings of the Paris Club, citing that is not Arcth Saudi Arabia was also one of the creditor nations of Iraq and other countries of the Paris Club meetings any prefers settling such issues outside of the club through the bilateral agreement with the city.
He pointed out that the treatment of debt in the Paris Club are subject to the principle of conditionality or conditionality, which means that the State must require that the city help the club due to their inability to pay its foreign debts that some of the steps and actions reform agreement with the International Monetary Fund, pointed out that the creditors the implementation of what has been a the agreement in the Paris Club the same formula that had been reached in the meetings of the club.
With regard to the means owned by the Paris Club to reduce the city state confirmed it is not confined only to cancel all the debts of the city state is also trying some government officials filming us that the club could resort to rescheduling the most common means of international action to alleviate the debt burden on a State for the city where the agreement between the state government and its creditors on the new dates and schedules for the new debt payment He also could be used to re-finance a loan repayment of old - and new loans are usually resort to this means when the debtor is on the verge of declaring bankruptcy and thus become debt from bad debt for its creditors, a creditors to provide new loans for the purpose of creating a new financial liquidity to the State to assist the advancement of the city up economically and then the national meet its external financial obligations.
He explained that the debt cancellation is one of the rarest of the procedures used by the Paris Club because inadmissible by many creditors, noting that the use of the cancellation of part of a religion and not all with the possibility of debt cancellation is also on the most important cases in which the cancellation of some debt in the Paris Club went to the cancellation of one third of the Mexican debt in 1989, the cancellation of a portion of the Polish debt in 1990 and the cancellation of a portion of the debt in the Egyptian .1991
Kuwaiti homeland

Translated version of http://www.sotaliraq.com/iraqi-news/nieuws.php?id=35367

Maliki terrorists and militias are working to destroy Iraq
Saturday, 07 / 10 / 2006

"News" and (homeland everybody) Baghdad (KUNA) - The Iraqi Prime Minister Nuri al-Maliki "The terrorists and ignorant and militia working on the destruction of the country" and promised to work on several issues for the reconstruction of the province of Anbar. He said in a speech today before the Senate clans Anbar "We need a language of dialogue, and to give priority to dealing with evidence of opinion and the protection of national interest." He said that "the capital of Anbar province in which the terrorists plotted to hijack the warmth of the home and into an area of influence and camps for terrorists is now a splendid epic provides a vivid example and we are all proud."

He believed that Iraq intended to remain an arena for settling scores, saying, "in our battles and heats the blood Falls are not in the best interest of us."

He added : "We discovered all these conspiracies and waiting only Sadamion and owners of satisfaction and our beliefs oppose."



The Maliki "that the draft national reconciliation boat to cross the real crisis and not violence and force."

He said, "we have developed our pledge in the holy month of Ramadan on the prohibition of Iraqi cooperation to control this commitment to be supportive of and complementary approaches to reconciliation and paved the way for practical action to inspire confidence and achieve reform in all areas."

The three axes of advance at Anbar "agreement on the framework of local government, which must include everyone and the funds necessary to launch a campaign of reconstruction and building security agencies select national elements." The following is the text of the speech :

The name of God the Merciful

Peace be upon you and God's mercy and blessings
You congratulate your Karim this because it was a series of advanced construction work to support the process and Alastekararalsiasi and security, economic development and service orientation.
Dear brothers and refer you in a responsible and legitimate national and human and that the great transformations undergone by the peoples and nations need to be cross-fertilization of several elements of the Muslim peace and security in dealing wisdom and largeness of spirit in addressing the issues of crisis and rigidity in the positions that pose challenges to our journey, We need the language of dialogue and understanding and handling of evidence necessary to maintain opinion on the basis of protecting the national interest.
For Everybody knows you and you sons of the homeland, which passed through many decades in the acute and artificial floors loss equation of justice and balance, which caused the emergence of values and practices harmed the national interest and offered our country, which must remain dear Division, land and sovereignty. and the people dear homeland, land and history.
On the ruins of a painful past and we go about praising God equations national fraternal detract from the cancellation, marginalization and monopolization.
Anbar province, which the terrorists plotted to hijack the warmth of the home and into an area of influence and camps and signs of terrorists, live today magnificent epic, and provides a vivid example we are all proud of that stems from the introductions : -
1-visibility and sorting prosecution of the facts.
2-awareness of the seriousness of the situation not only Anbar but on Iraq, which constitute Anbar, one of the main gates and important areas in its location, its people and its future.
Dear brothers
For Aared to open the file of the talk about pain, surgeries and Maeatht the hands of terrorists and ignorant, and Matsbbh approach Block and militias from the destruction of the structure of this country and Aathadth on the size of mass destruction created by the former regime and Aalsiasat wrong and practices that have occurred since the occupation to the day, but only Bouaikm and crystallized positions in the right direction which, to turn to be taken by the Conference in fact, reform in this province cherished and dangerous, and warranted on the success of our advantages and successes and save the country from disintegration and the continuing violence.
You should be aware that our country is destined to remain an arena for settling accounts, and woven around conspiracies casts black Athab good for us to formulate the results of conspiracy Tahir blood of the Iraqi people.
The land battles and heats are blood Falls and we have no interest in all this, Thank God everyone has discovered more than Sadamion owners faiths SATISFACTION for the Muslims, They became clear after our image and the goal that we cooperate on land and the fear of God in their confrontation.
The draft national reconciliation is the boat like real crisis, not violence and force, The reconciliation is to establish relations of strong national Athtz.
We have developed our compact legitimate in the skies of the holy month of Ramadan, the Iraqi and forbidding blood compact to stem the bloodshed and cooperation through mechanisms agreed to monitor this compact and activated to be supportive of and complementary approaches to reconciliation and paved the way for practical matter of reassurance and verification of origin Ahh in the political process, security and economic.
Dear brothers
I think that we have in the advancement of Anbar three basic demands first agreement on the framework of local government, which must be expanded to include everyone through channels of understanding to be the hands of all the clans respectable turn promoted to the wonderful parties and forces and national figures, Here, I stress the need to adopt the principle of not excluding anyone and to keep the door open for those working in the project of helping Anbar and the second release of funds for the reconstruction campaign and services to compensate Mahermt to maintain because of the waves of terror and violence and the local government will be responsible for the implementation of this commitment actively exceptional.
Third, the process of rapidly building of the police and the army select elements of good faith in the national political process and communication with the national responsibilities dictated by the political developments of the situation after based on democracy, pluralism and constitution and elections.
I wish to take this approach your Amba Ayr formation of the committees for the development process that went on in the political, security, economic, leave Conference of the crisis and to once again emphasize the importance to keep the door open for those who wish to cooperate in good and piety, and wants to compete in the field of national action and serve Iraq and its people.
And remind you saying Almighty
In this Let the competitors.

May peace and God's mercy and blessings.

Translated version of http://www.wattan4all.org/

This Post and OSW's saying to me IMHO is the surething. Wow!!! Just a littlebit longer. Gone this long and not near as much as some. Looks like Part 5 will be it.

Originally Posted by mountaingirl

This was posted on another forum by GoodKarma;



Coming soon!

--------------------------------------------------------------------------------

The Law

Article 10
Investors shall enjoy the following advantages [have the following
rights]:

To take out of the country capital brought into Iraq and returns on their
investment, in accordance with the provisions of this law, provided that
it does not conflict with the customs and tax laws and regulations, in a
convertible currency, after settling all their obligations and debts to the
Iraqi government and other entities.

"To open accounts in Iraqi or foreign currency, or both , with any
bank in or outside of Iraq for approved projects."

Article 11

"Non-Iraqi technical and administrative workers in any project may
transfer their salaries and other compensation abroad, in accordance
with the law, after settling their obligations and debts to the Iraqi
government."

Article 14
"Investors shall employ directly or indirectly a number of Iraqi
workers equivalent to at least 50 percent of the total number of
workers employed by the project, unless the Investment Board
deems otherwise appropriate for reasons related to the technical
specialty required, the nature of the work, or the geographical
location of the project"

(So what are these provisions trying to tell us? It's acknowledging the fact that the IQD will be fully convertible/internationally accepted to make the provisions I quoted above a reality!)

The customers:

Our clients
"Iraqi ministries represent the principal domestic clients to the Trade Bank of Iraq (TBI) particularly during this phase of reconstruction. The following is a list of these ministries and their contact information. Please communicate with these ministries with issues relating to your contract."

Ministry of Oil

Ministry of Electricity

Ministry of Health

Ministry of Foreign Affaires

Ministry of Trade

Ministry of Interior

Ministry of Education


The Supporting Casts:

#1
Operating Consortium
While Iraq engages the reconstruction process and rebuilds its credit standing in the global financial community. Five global financial institutions have partnered together to lend their support to the Trade Bank of Iraq (TBI) in its commencement of operations. Their primary role is issuing the letters of credit externally on behalf of TBI to global exporters. In addition, the consortium has provided TBI with the latest technologies and trade finance know-how. These banks have committed to stand by TBI until it is able to issue its letters of credit to world exporters on its own. These banks are:

JPMorgan Chase
Standard Chartered Bank
Australia & New Zealand Bank
Bank Millennium SA
National Bank of Kuwait
Internationale Nederlanden Group
Bank Of Tokyo-Mitsubishi
Calyon
HypoVereinsbank AG.
SanPaolo IMI S.p.A

#2

Participating banks
"In addition to the five Operating Consortium banks, a group of world-class banking institutions have joined the Trade Bank of Iraq Consortium as Participating Banks. These banks were selected for their geographic breadth, the strength of their trade finance franchise, and their commitment to doing business in the Middle East."

"Participating Banks further broaden the client base and global reach of TBI. The larger group of banks is also positioned to engage a wider circle of export credit agencies to provide coverage for exports to Iraq. These banks will also be engaged to line up financing during future phases of the Trade Bank. These banks will also form the nucleus of TBI's correspondent banking relationships."

Akbank TAS .................................................. ............................... (Turkey)
Bank of China .................................................. ........................... (China)
Bank of Tokyo-Mitsubishi .................................................. .......... (Japan)
Calyon .................................................. ...................................... (France)
DBS .................................................. .......................................... (Singapore)
Gruppo SanPaolo IMI S.p.A .................................................. ...... (Italy)
Internationale Nederlanden Group ............................................ (Netherland)
Millennium BCP .................................................. ......................... (Portugal)
Royal Bank of Canada .................................................. .............. (Canada)
Standard Bank Group Limited .................................................. .. (South Africa)
State Bank of India .................................................. .................. (India)
Vneshtorgbank (Bank for Foreign Trade) ....................... (Russia)
Woori Bank .................................................. .............................. (Korea)

#3

Export Credit Agencies
"In December 2003, the Trade Bank of Iraq secured over $2.4 billion in export credit facilities with over 18 Export Credit Agencies representing the largest economies in the world these include:"

Export Finance and Insurance Corporation (EFIC) ................................
Oesterreichische Kontrollbank Aktiengesellschaft (OEKB) .......................
Of fice National du Ducroire (ONDD) ..................................................
Export Guarantee and Insurance Corporation (EGAP) ............................
Eksport Kredit Fonden (EKF) .................................................. ..........
Euler Hermes Kreditversicherungs-AG (HERMES) ..................................
Nederlandsche Credietverzkering Maatschappij NV ( NCM) .....................
Servizi Assicurativi del Commercio Estero (SACE) .................................
Nippon Export and Investment Insurance ( NEXI) ................................
Office du Ducroire Luxembourg (ODL) ................................................
Inter-Arab Investment Guarantee Corporation (IAIGC) .........................
Export Credit Insurance Corporation (KUKE) .......................................
Compañia Española de Seguros de Credito a la Exportación (CESCE)........
Exportkreditnamnden (EKN) .................................................. ...........
Export Risk Guarantee Agency (ERG) .................................................
Export Credits Guarantee Department (ECGD) .....................................
Export-Import Bank (US EX-IM) .................................................. .....
Overseas Private Investment Corporation (OPIC) ................................

#4

"Citigroup, in cooperation with U.S. Overseas Private Investment Corporation (OPIC), intends to launch a $70 million structured credit facility that will allow the Trade Bank of Iraq (TBI) to issue Letters of Credit which would be confirmed by leading financial institutions. "

"The $70 million structured facility was arranged, structured and coordinated by Citigroup's Export and Agency Finance group."

"Mohammed Al-Shroogi, Corporate and Investment Banking Head for the Middle East at Citigroup, said: "We are determined to be part of reconstruction efforts in Iraq and we are delighted to contribute toward promoting trade under the leadership of TBI."

"The new facility comes at the heels of several other landmark transactions that Citigroup has lead in Iraq including the recent commercial debt restructuring on behalf of the Republic of Iraq, the launch of a $130 million OPIC partial guaranteed loan to support small and medium term enterprises in the Iraqi private sector, and the Prepaid L/C facility for TBI," the Citigroup announcement concluded."

(Ha! Small and medium businesses in Iraq use the IQD. Their customers are Iraqis!)

The Preparation

Anti-Money Laundering Training:
"Thirty bank directors and senior managers from private banks were trained September 10, as part of USAID’s Izdihar program, to understand their roles in combating money-laundering under the Iraqi Anti-Money Laundering Act of 2004. Preventing, detecting and reporting money laundering is an on-going responsibility for management and all bank employees. This training aims to establish appropriate anti-money laundering policies and procedures, roles and responsibilities, and official reporting channels."