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

Originally Posted by Webster

How does one trade on the ISX?
Currently, trading by foreigners is not possible (see related question, "When will the ISX be open to foreign investors?"), but once foreign investment is implemented, trading will work in a very similar manner to that of any other major market. You will need to set-up an account with one of the officially recognized Iraqi brokerage firms ^, and make trades through them for a commission. Currently it appears that most of these brokerages will only be able to make trades via phone and written request, but it appears that there is a plan underway to implement a system-wide electronic trading system. (this is based on official ISX documentation)

Sorry, I can't tell if they are open or shut!

Check out the main dinar info page there are threads devoted to this subject.

Originally Posted by day dreamer

That's what I was thinking, SGS do you know if that time is correct???

they have the wrong time.

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

The new investment law. The establishment of a national investment and granting foreigners the right to purchase shares
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Granting of the new investment law which was approved by the Iraqi parliament unanimously today, Tuesday, a large number of concessions to foreign investors such as the power to purchase the shares and management of investment portfolios. As provided for the establishment of a national body for investment, and investment projects granted tax exemptions of up to 15 years.
The amended draft of the investment law, which presented to the House of Representatives yesterday, Monday, and got News Agency (Voices of Iraq), a copy of which independent, article 36. He agreed draft day all of the members who attended the meeting and 180 members.
The law passed by the parliament today on the formation of a body, the "National Authority for Investment," shall enjoy moral authority or represented by the President of empowered and be responsible for the formulation of the national policy for investment and the development of plans and controls and monitors the application of controls and regulations in the field of investment.
Specialize the investment projects of the federal and administered by a board of directors composed of nine members, university professors, nominated by the Council of Ministers and head of the rank of minister and deputy chairman of the rank of Under-Secretary for five years and ratified by Parliament. the Prime Minister also appointed four general managers of the members.
The Act provides for the right of the House impeachment of the President or his deputy at the request of the Prime Minister and the Center Authority in Baghdad and appoint representatives to the regions and governorates.
According to the law, "to the regions and provinces in the territory of irregular composition of the investment in the areas under its control with powers granted leave investment and encourage investment and to open branches in areas under its control within the law in consultation with the National Authority for the investment to ensure that the legal requirements.
The regional and provincial bodies of seven members, including at least one president and his deputy, It also coordinate regional and provincial bodies to work with the National Authority for Investment in coordination and consultation with local governments with regard to plans and investment facilitation. He added the law "and accept the requests for clearance of investment projects less capital than the minimum established by the Council of Ministers, the Minister of the Territory, as the case may be issued under the proposal of the body to bring into approval by the Council of Ministers if the value of the project for $ 150 million."
The body will leave the applications projects in the period of less than 45 days from the date of submission of the application.
For the annual budget independent resources consist of the amounts allocated to it from the state budget.
The objectives of the law, saying that "The body aims to promote investment through the strengthening of confidence in the investment environment and the identification of investment opportunities and stimulating investment, promoting and simplifying registration procedures and leave for investment projects and the follow-up of existing projects and the priority given to them in Alang The presentations to the official bodies. "
One of the functions of the "completion of the procedures answer requests for investors and obtain the necessary approvals for the investor and the project and the establishment of a single window at the National Investment and other regions and provinces comprising delegates accredited by the ministries and members nominated by provincial and district councils according to the conditions and the relevant authorities of the relationship is the granting of leave and obtain approvals from other parties in accordance with the law in addition to providing advice to investors and to develop programs to promote investment in the different regions of Iraq to attract investors. "
, As well as facilitate the allocation of land required for setting up and letting projects without determined by the body to coordinate with the relevant agencies in addition to the work on the establishment of investment safe and free consent of the Council of Ministers. "
The Act further provides that the "facilities and the granting of loans to investors Iraqis that they operate manpower commensurate with the size of the loan value."
"Enjoy investor regardless of nationality Pjmba benefits and safeguards and is subject to the obligations contained in this Act and the Iraqi and foreign investor for the purposes of the draft population the right to land without jurisdiction speculation according to rules set by the Commission and with the consent of the Council of Ministers may ownership housing units to the Iraqis after the completion Almshro A. Under this law, the investor will enjoy the advantages of the capital, which get introduced to Iraq, and proceeds according to instructions of the Central Bank after the payment of all obligations. "
The law also gives foreign investors the "right of trading in the securities market and stocks and bonds in addition to the composition of investment portfolios in stocks, bonds and leases of land for the project or for the duration Almsatha where the investment project based on not to exceed 50 years, renewable for approval under body. "
"As well as the right of foreign investors in insurance companies, insurance on the project and the opening of the Iraqi currency accounts or foreign bank branches in Iraq or outside Iraq, this Act guarantees that the priority recruitment and use of personnel to the Iraqis in addition to granting foreign investors and foreign employees in enterprises Alast Marais right to stay in Iraq and to facilitate entry and exit to and from Iraq, in addition to ensuring that the confiscation or nationalization of the project except what comes in a sentence now. "
The law "and the resulting investor commitments since the notice by the territory or maintaining writing immediately upon completion of the installation of the project and the trade date of commencement of work, in addition to brief the documents, records and the feasibility study if requested. "
"And enjoy an investment project where projects have got leave from the investment exemption from taxes and duties for 10 years from the start of commercial operation of the project in accordance with the development areas identified by the Council of Ministers. The rise Sunni exemption if there was a contribution from an Iraqi and up to 15 years if the contribution Iraqi investors up to 50%. "
"It also enjoys the project holder of the exempt assets leave imported for the project from charges to be made within 3 years from the date of granting investment also exempt materials imported for the purpose of the expansion project of the fees to enter into a period of less than three years from the date of notification of the expansion project, and also exempt spare parts imported for the project from charges that the less the value of these pieces of the 20% of the value of the assets to the condition that the investor Aitasserv for purposes other than importing them. "
The granting of law "projects of hotels and tourist establishments, hospitals and health institutions, rehabilitation centers and educational institutions importing furniture, furnishings and supplies for renewal once every four years to be used in the project, If it is proved any sale of imports for the benefit of plants and exempt from customs illegally investor fees and taxes implications. "
The Act contains general provisions to settle the disputes on the projects and financing methods as applied to the Iraqi addition to explaining the legal procedures for the granting of leave to the project.
Pertaining

Sea Sciences calls for the development of the oil field Kefl
Dargham of Muhammad Ali
Baghdad (Voices of Iraq)
Dr. Ibrahim Bahr Al-Uloom, the former oil minister of the Ministry of Oil to follow up the implementation of investment projects, such as task Field Development Project Kefl oil.
He said in a statement given to the News Agency (Voices of Iraq) Independent today, Tuesday, "that the ministry is in the last year completed a three-dimensional seismic surveys for the oil field Kefl and had been dug five wells experimental production capacity of five thousand barrels per day," and clearly that "the production capacity of the field, if developed that can reach 25 thousand barrels per day of crude oil and 18 million cubic meters of liquid gas. "
The Sea Sciences, "We raised this issue during the opening refinery Najaf last Saturday, suggested that the addition of production units of the refinery gasoline production unit, in addition to the asphalt."
The Iraqi Oil Minister Hussein Shahrastani opened last Saturday afternoon refinery crude oil in the city of Najaf.
The proposed Sea to the Ministry of Science to develop a plan for the coming year to improve economic reality PROJECT East to avoid future crises in the fuel and energy in the region through interest Field Zulkifli.
Located near the city of Karbala, Kifl and on the administrative border of Najaf, which, together with the provinces of Karbala and Diwaniyah in the Furat.
Between Science and the Sea, "will be the opening of the second phase of the refinery Najaf during the coming four months, will be to double the annual production capacity is rising from 10 thousand barrels currently to 20 thousand barrels per day, and then begin the development phase three of the liquidator and the recent addition of 10 thousand barrels of the 30 thousand barrels per day. "
He pointed out that the location of the field Kefl secure crude oil for the production of the refinery, in addition to Karbala oil refinery to be set up later.
Sha

Originally Posted by shotgunsusie

warka investment company invested some of our warka savings into the isx for us under them as a proxy until such time as it can be transfered into our name. i believe that time has come.

I think so too!

That means the doors are open from monday. Then we must see a RV before that time!!!

This is the greatest Dinar Time EVER!!!!!

October 11, 2006

The oil parade; Being a guest in your own home

BY Behrooz Shojai
Globe Editorial

Undoubtedly, the formation of the united Iraqi government in Baghdad should be attributed to the skills of the Kurdish leadership.

Since it frenetically has worked to bring together all parts, Sunnis as well as Shiites, to the negotiation tables.

The efforts of the Kurdish leadership originate from the Kurdish people's commitment to democracy and tolerance. It is not an exaggeration if we consider ourselves as the steady ship of the quest for democracy in the turmoil sea of the Middle East. In this part of the world we are almost all alone; hence, we need all assistance offered to us from the outside.

With the help of our American friends we have got rid off Saddam Hussein's reign of terror, whose target was mainly the Kurdish people. We are indeed grateful for America's great endeavour, but everybody should remember that our own achievement was not a gift from above.

We have been visited by eminent visitors from Washington, to convince us about the virtue of our cooperation with the central government in Baghdad; cooperation about the distribution of oil-wealth over all Iraq. Our elected leaders have pointed out that all oil contracts will be conducted in accordance with the Iraqi constitution, which does not elucidate how the future oil reserves should be exploited; shared with the central administration or owned only by the regional government.

This constitution has already been approved by the Iraqi assembly. But when the Kurdistan Regional Government (KRG) set about oil mining activities our "fellow-country-men" in Baghdad were not late to remonstrate; all in old central governmental manner. When oil wells were exploited in our land nobody asked us about authorizations and permissions.

The central government, as the juridical part, bears the responsibility of 70 years of exploitation in Kurdistan. The Iraqi central government, as the juridical part, has the responsibility of destroying more than 4.000 Kurdish villages. All habitants of these villages and towns must be compensated in any democracy.

The Iraqi central government, as the juridical part, bears the responsibility to compensate for lost incomes from agriculture during several decades.The Iraqi central government, as the juridical part, bears the economic responsibility of neglected infrastructure and industrial sector in Kurdistan.

The Iraqi central government must, as the juridical part, compensate the families of those thousands of people who were 'Anfalized 'during the reign of terror.

The Iraqi state compensated Kuwaitis by billions of dollars. Compared to Kuwait, damages conducted on Kurdistan are enormous. The Iraqi state must compensate for all these damages and I believe it is high time for the KRG to initiate a commission for this purpose.

Having the control over oil mining in Kurdistan properly is the only way to prevent the central government to use it against us again. For decades Kurds lost all benefits from oil wealth, oil that was exploited in our own soil. It is time that we are in charge of what takes place in our own yard.

The Kurdish nation is committed to the path of democracy and eternal friendship with democratic nations; thus the support from democratic nations is crucial for the survival of the democratic experience in Kurdistan. As it concerns our friends in Washington, it is sure that they are aware of our past with the Iraqi central government and will hopefully act accordingly.

After all, by now, they must have differentiated friends from the foes in the not so friendly Middle East.

well, the next check is the cbi auction...
man your posts!!

Originally Posted by kiko

I think so too!

That means the doors are open from monday. Then we must see a RV before that time!!!

This is the greatest Dinar Time EVER!!!!!

are you sure that they will rv did some one in the gov tell you

The 786 daily currency auction was held in the Central Bank of Iraq day Tuesday 2006 / 10/ 10 so the results were as follows :

Details Notes Number of banks 14 ----- Auction price selling dinar / US $ 1471 ----- Auction price buying dinar / US $ ----- ----- Amount sold at auction price (US $) 53.010.000 ----- Amount purchased at Auction price (US $) ----- Total offers for buying (US $) 53.010.000 ----- Total offers for selling (US $) ----- -----

• Cash amounts sold to the bank and its customers were USD(27.010.000) at a rate of(1471+1+10=1482)IQD\USD .
• The amount sold to make transfers abroad was USD (26.000.000) at a rate of (1471-2)+ one dinar as a bank fee and exempt the transferred amount from conversion fee.

nothing yet.....