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

I seem to remember someone stating, once parliament passes a bill it is usually 4 days before it takes affect. If this is the case, then Saturday the 14th is when the FIL will actually begin to be implemented.

2B

Don't know if this version is posted yet but here it is.

ÇÓÊËãÇÑ- ãáÇÍÙÇÊ :: Aswat al Iraq :: Aswat al Iraq

MPs seem observations on the investment law
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
The members of the House of Representatives in the Iraqi comments on the investment law passed by the council on Tuesday.
She said Safiya Suhail member of the Council on the existing Iraqi News Agency (Voices of Iraq) Independent today, "We felt that the law gave preference to foreign investors at the expense of weakening investor Iraqi in addition to that the law does not facilitate the return of Iraqi capital abroad to invest in Iraq. "
The Suhail in its observations on the law, although it voted in favor of the "law is built on the basis of past government consultations with the International Monetary Fund and donor countries as Iraq, if it wants to absorb unemployment and facilitate the flow of capital to Iraq, it must find suitable ground for that through the creation of this law."
She said, "The members of the previously proposed amendments to the law, such as requiring the foreign investor to make the investor's share to quote the 51% of the volume of investment, However, this did not happen, the amendments were not taken into account. "
She added, "We voted for the law in the public interest, because we need this law, which will contribute to the operation of the Iraqi unemployment and forcing it to lay down arms and resort to work and earn their livelihood through legitimate and the development of the living conditions and service orientation of the State and relief dependency on the state, which would give greater flexibility to Meza Federal faith-oriented development projects and strategy. "
For his part, Dr. Sherif behalf of the member of the House of the coalition that "the Presidency dealt vote on the standards in the investment law, it allowed yesterday, Monday, to discuss the inclusion during the voting on the existence of gaps in the law, which for a vote today."
He continued Sharif, "but they (the governing body) did not allow today in the person of its chairman, Dr. Khalid al-Attiyah discussed the law it wants to pass any form and any formula despite the comments of big absolute powers granted to the regions for investment under pressure from the Kurds."
He added, "which invited several members to object to this formula, but there was no room for amendment."
He said that "the vote on the bill today is illegal, because the rules of procedure provides that the vote be after four days of the end of any deliberate on the draft resolution, while the debate on the Investment Law and continued until this morning. "
He disclosed that there are members who attended the session did not vote for the law, but he did not specify the number.
The first deputy chairman of parliament, Khaled al-Attiyah, who chaired the meeting because of the absence of the Speaker Mahmoud Almshahadani had announced that Parliament had passed the law unanimously by 180 members attended today's meeting.
H M

Long article but good stuff.

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Fil Passed???????

Originally Posted by shotgunsusie

ÅÓÊËãÇÑ - ÞÇäæä (ÊÞÑíÑ) :: Aswat al Iraq :: Aswat al Iraq

I am confused so can SGS or Adster explained how the Investment Law impacts foriegn currency(dinars)? The above reference mentioned stocks portfolio.

Thanks,
JT2154

Originally Posted by JT2154

I am confused so can SGS or Adster explained how the Investment Law impacts foriegn currency(dinars)? The above reference mentioned stocks portfolio.

Thanks,
JT2154

Originally Posted by risktaker View Post
hey karin,

i didn't see where anyone really answered your question, so i will give it a try.

i think where the misunderstanding is coming from is that you are focusing on "real property" or physical structures. those things are just like a house in whatever country or city you live in and would more than likely change as the value of the dinar changed, but there selling prices are set by the market they are in.

try and get away from that for a minute and think about it in stock market terms. no matter what exchange they are traded on, if it is a public company, anyone that has the funds can buy whatever number of shares they desire that are available. since this is all about the dinar, take an example of XYZ beer inc that is trading on the ISX. if the current share price of XYZ is 6IQD per share and there are 1 million shares available, then factor in that the current exchange rate is 1472 dinar per USD, then i could buy 245 shares of XYZ for 1USD, carried out further i could buy 1 million shares of XYZ beer for a little more than 4000.00 US.

right now i think there are less that 100 companies traded on the ISX, and i don't think very many trade as high as 6IQD/share. so just imagine that i am worth $20million, and i keep up with whats going on in world investments and finance and i decide i want to diversify myself into emerging markets (which US investment firms are already doing) and i get some info on the ISX, and decide to put %5 of my net worth into the market in Iraq. for that $1milion i could own 1 million shares of the ALL of the companies on the ISX at the price of 6 IQD/share (if they all traded that high). if the share price is lower or there are fewer traded companies, i could own ALOT more than that for that same $1million. now think of that same example, but on the scale of Gates, or Trumph, or General Motors or Barclays, etc and you can see how fast someone could own large percentages of MANY companies at the current exchange rate.

now look at the same example, but if 6IQD was equal to 6USD, then it completely changes the landscape, instead of me being able to buy 245 shares in XYZ for $1.00, it would cost me $6.00 just to get one share.

i hope this helps, i know you were struggling with the "how" someone could buy up Iraq, and this is the best i could explain it. also at the current exchange rate, it would probably be cheaper to buy the company that owns the plant, than to buy the plant itself.

i was going to pm this to you, but it is turned off again.

Originally Posted by JT2154

I am confused so can SGS or Adster explained how the Investment Law impacts foriegn currency(dinars)? The above reference mentioned stocks portfolio.

Thanks,
JT2154

Once the FIL is enacted then by allowing foreign investors to buy into Iraq this in itself will drive the dinar value up. And that's without a r/v! All about demand, and the world demands oil.

I believe once it's on the Forex then it will rise rapidly. I also believe a r/v is on the cards to kick start the 'drive' within the next 2 weeks.

I am looking for anything. That says the IQD's will be accepted for oil payments! It could be in the Hydrocarbon law! If anyone finds this and posts it. Please PM me, so I can find this! If we can find this, it would be huge! It would create a huge demand for the dinars................................

[QUOTE=Adster;117901]More good news, checkout the 'Next Steps'..... Am also loving the fact they said by the end of the year up to now and now the Hydrocarbon Law will be passed the end of next week.....

Hi Adster, I cant seem to locate the post that says the HCL will be passed next week... can you post that please?

Originally Posted by Adster

Once the FIL is enacted then by allowing foreign investors to buy into Iraq this in itself will drive the dinar value up. And that's without a r/v! All about demand, and the world demands oil.

I believe once it's on the Forex then it will rise rapidly. I also believe a r/v is on the cards to kick start the 'drive' within the next 2 weeks.

very true, RV or not the dinar is going to rise quickly. the world HAS to have oil, and more by the day. another thing to keep in mind is that payments for oil for the most part aren't going to be cash (currency) transactions, they will be electronic so they will be able to boost reserves and at the same time keeping the same value of notes in circulation. that by itself should increase the value of the dinar.