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

During the meeting, participants agreed to and established the Iraqi Business Council. The Council will represent the Iraqi private sector both inside and outside Iraq, will participate in the research and review of legislation pertaining to commerce and trade, and will contribute to the overall Iraqi economic development process. At the meeting, participants established a committee on regulatory reform and eight individuals were chosen for the committee. The committee was tasked with reviewing 16 pieces of legislation that are making their way through the system, foremost among them being the Investment Law that is currently under review. The Iraqi Business Council will convene again in Sulaymaniyah on November 5 to welcome new members, further develop an action plan, and create additional committees as necessary.

With the support of CIPE, twenty-two Kurdish business associations, chambers of commerce, and economic think tanks convened in Arbil on September 23. Opening remarks were given by Mr. Mohammed Raaouf Mohammed, the Kurdish Government’s Minister of Trade. The meeting was moderated by Dr. Nabil Ethari and discussed more effective means for coordination and advocacy by the private sector and the development of a regional business agenda. During the meeting, participants agreed to work closely together and set November 6 as a date to meet again in Sulaymaniyah and declare the foundation of the High Council for Business in Kurdistan. The Council will represent the Kurdish private sector both within and outside Iraq, will participate in the research and review of Kurdish Government legislation pertaining to commerce and trade, and will contribute to the overall Kurdistan economic development process. Participants also agreed to begin work on a regional business agenda and identified 12 sectors to be covered by the agenda.ers and creates the local capacity to rebuild the country.


A few more interesting comments to consider

Al Sabaah: Economy section...


Economic : Shahrastani :Al-Ahdab field in addition to the quality of Iraq's production expectations increase the volume of investments and oil production. Baghdad Haider Rubaie Iraq intends to increase the volume of investments in oil under the new law, oil and gas,it will be re-consideration of all contracts signed during the era of Principles in the negotiation.Reports indicate Iraq has sought to re-develop the Al-Ahdab oil field in southern Iraq, which will enhance oil production in Iraq with 90 thousand barrels a day.In this regard, Dr. Hussein Shahrastani oil minister that Iraq and China would undertake talks on reviving the oil contract to develop Al-Ahdab oil field,that was agreed upon in the era of the Principles.Shahrastani said in a press interview during his visit to Beijing recently :the representatives of the Iraqi Oil Ministry and the oasis company partly owned oil company China National will begin work soon to activate the contract has met the minister, who had arrived from Japan with senior officials of the government oil companies only fourth in China.It is expected to produce Al-Ahdab field, which is located in southern Iraq about 90 thousand barrels per day and if the agreement has been reached between the two sides, this will be the first foreign oil contract granted by Iraq, according to the law of oil and gas due to be issued shortly.He Shahrastani during his speech to the companies that will work in Iraq at the present time is only possible to have an opportunity to obtain contracts, pointing out that the Iraqi and Chinese sides realize the importance of cooperation and the need for each other.The Petroleum Ministry had recently started a work plan, designed to attract large foreign companies to invest in the Iraqi oil sector,as recently contracted with a number of companies to add new production units of the refinery to reach productive capacity of 180 thousand barrels per day, especially as the design capacity of the liquidator of approximately 110 thousand barrels and that it is working to increase the production capacity of the refinery to more than 180 thousand barrels per day.It was actually contracted with the company (STP) for the establishment of the Italian unit Azmerh new refinery in the session for the addition of a new unit of the refinery manufactures rule units involved in improving the quality of gasoline.He said Shahrastani also :All contracts signed in the era of the Principles will be negotiated in line with the new law on oil and gas, which had Igiraidha volume of investments in the Al-Ahdab field estimated at about $ 700 million.He added that Iraq is seeking to increase its oil production by 20% to reach three million barrels a day by the end of this year.He pointed out that Iraq hopes to increase total oil production by between 4-4.5 million barrels per day by 2010 if it succeeds in attracting investments to develop the discovered fields and 80 gas fields.




so the Hydro-Carbon law is just around the corner, I'm guessing.

Iraq Weekly Program Highlights

The Committee of Regulation and Legislation that has emanated from the recently established Iraqi Business Council held a meeting on October 15, 2006 in the Hall of Market Researches Center in Baghdad University. Committee members included Dr. Muna Al Mousawi from the Center for Market Researches, Mr. Hameed Al Hilli from IEDC, Mr. Abdul Hussein Mubaraka from the Iraqi Business Men Union, and Mr. Abdul Hasan Al Shemari from IIA. The meeting discussed recommendations regarding the new investment law. The Iraqi business council will represent the private sector in advocating for the implementation for the new law.
Background and Overview

CIPE’s goal in Iraq is to help business leaders and other civil society groups build an institutional foundation for economic growth and democratic stability. CIPE’s on-the-ground approach is unique because it empowers Iraqi reformCIPE partner the Iraqi Business Men Union (IBMU) held two workshops in Baghdad. The first, “Secretary and Office Management,” was on Sept, 19- 20, and the second one was titled “Management of Industrial Companies” and held was on Sep 26-27. Both events were conducted by Dr. Ahmed Ali Salih and Dr. Suhad Al Qaisi from the International Negotiation Institute. Each event was attended by approximately 25 participants representing IBMU members, and was covered by Al Mada local newspaper.

With the support of CIPE, over 20 Iraqi business associations, chambers of commerce, and economic think tanks from all parts of the country convened in Arbil on September 22. The meeting was moderated by Dr. Nabil Ethari and discussed a more effective means of coordination and advocacy by the private sector. During the meeting, participants agreed to and established the Iraqi Business Council. The Council will represent the Iraqi private sector both inside and outside Iraq, will participate in the research and review of legislation pertaining to commerce and trade, and will contribute to the overall Iraqi economic development process. At the meeting, participants established a committee on regulatory reform and eight individuals were chosen for the committee. The committee was tasked with reviewing 16 pieces of legislation that are making their way through the system, foremost among them being the Investment Law that is currently under review. The Iraqi Business Council will convene again in Sulaymaniyah on November 5 to welcome new members, further develop an action plan, and create additional committees as necessary.

With the support of CIPE, twenty-two Kurdish business associations, chambers of commerce, and economic think tanks convened in Arbil on September 23. Opening remarks were given by Mr. Mohammed Raaouf Mohammed, the Kurdish Government’s Minister of Trade. The meeting was moderated by Dr. Nabil Ethari and discussed more effective means for coordination and advocacy by the private sector and the development of a regional business agenda. During the meeting, participants agreed to work closely together and set November 6 as a date to meet again in Sulaymaniyah and declare the foundation of the High Council for Business in Kurdistan. The Council will represent the Kurdish private sector both within and outside Iraq, will participate in the research and review of Kurdish Government legislation pertaining to commerce and trade, and will contribute to the overall Kurdistan economic development process. Participants also agreed to begin work on a regional business agenda and identified 12 sectors to be covered by the agenda.ers and creates the local capacity to rebuild the country.

CIPE puts an emphasis on economic development in addition to political reconstruction, because strong democracies require functioning markets.
Engaging the private sector in reconstruction has proven to be a successful strategy for CIPE in other post-conflict countries such as Afghanistan, Bosnia, Kosovo, and Serbia.

Local presence and timely response are also crucial to success in post-conflict reconstruction. CIPE opened its Baghdad office in October 2003. Since then, CIPE has reached out to more than 50,000 Iraqi businessmen and women through its network of 40 business associations and chambers of commerce. CIPE continues to work with more than 30 political parties, dozens of economic journalists, universities, and other civil society groups all over Iraq.

Originally Posted by RollsRoyce

This [I think] is the translation of the above:

Economic Files A weekly businessoriented television show produced, written, directed, and broadcast by Iraqis with additional support provided by the Center for International
Private Enterprise To view the entire episode, please visit
www.cipe.org/iraq Center for International private Enterprise, 1155 15th Street, N.W. • Suite 700 • Washington, DC 20005 - [email protected] • (tel) 202-721-9200 • (f) 202-721-9250 • url=http://www.cipe.org]CIPE | Center for International Private Enterprise[/url] Featured Guests: Mr. Ali Hassan Abu Naila (Director General, Exchange Department, Central Bank of Iraq), Mrs. Nibal Thanon Al-Sai’gh (Director General, Transfer and Credits Department, Central - Bank of Iraq), Mr. Walled Eddy Abdul Nabi (Assistant Director General, Exchange Department, Central Bank of Iraq), Mr. Hussam Abid Ali (CEO of private bank: Economics Bank for Investments and Funding), Mr. Moayad Basher Hadded (Financial Consultant), and Dr. Emad Mohammad Ali (Professor of Economics, Baghdad
University).

The program discussed the financial sector and money markets in Iraq, with a special focus on the role of the Central Bank of Iraq.
The program addressed the following topics:
• Regulation and stocking of Iraqi currency
• Monitoring of credits according to the general monetary
policies of the government.
• Fixing the rate of the Iraqi Dinar and fighting inflation
• Partnership opportunities between local and international
private banks
The three guests from the Central Bank discussed the bank’s
plan to enhance the Iraqi banking sector and financial markets
throughout 2006. They highlighted a series of steps that have
already been taken, including:
• Establishing the Central Bank’s independence from the
Ministry of Finance
• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins

However, guests on the show representing private banks and the private sector, as well as average Iraqis interviewed on the street, voiced the following concerns about the policies of the Central Bank:
• There is only one financial market within Iraq, the Iraq Stock Exchange, which is dominated by a few key players.
• The procedures for participating in the Iraq Stock Exchange are very cumbersome. For example, it takes 45 days for a certificate to be issued to a new stockholder.
• Private banks require support from the Central Bank to
obtain training for their staff in areas such as information
technology, international best practices, and English.
• Checks issued by private banks are not accepted by state and government entities.
Aldiyar Satellite Broadcasting presents:
Episode 6 Synopsis: The Financial Sector and Money Markets - Airdate: August 6, 2005
Economic Files does not necessarily reflect the views of CIPE

I'm lost here . . . is the above saying for sure that there are *14* notes & coins . . .

Is this old or new stuff [ as M/B states it's from Aug 2005 ] . . .

I've only been involved in all this since 7/2006 . . . so maybe I missed any / all / discussion of this from way back / when . . . anyway, as I say, I'm lost here . . .

Help, . . . anyone . . . RR . . .

the original article was written back then but it was never published that i know of until it was discovered earlier this year. i believe it had been embargoed information until the time it came out, the only explanation of no previous sightings.

Originally Posted by RollsRoyce

Humm . . . yeah but it states "They highlighted a series of steps that have already been taken, including:

• Establishing the Central Bank’s independence from the Ministry of Finance

• Training 70% of the bank’s staff on international best
practices

• Printing a series of 14 new Iraqi Dinar notes and coins

we know of 9 total coins and notes that are currently in circulation. they will introduce 5 new ones when they revalue. many speculations on what bills/coins it will be have been made.

Originally Posted by shotgunsusie

we know of 9 total coins and notes that are currently in circulation. they will introduce 5 new ones when they revalue. many speculations on what bills/coins it will be have been made.

Okay, got'cha Sus . . . Hope Mom's doing better . . .

Does, however, sound to me like they've been printed / minted & are ready . . . whatever denom they are, [probably as Adster has stated] . . . To me it somewhat confirms what Brother 2 said . . .

I thought I remembered reading that there was some question as to *IF* they were even produced . . .

Iraq: UNAMI-Compact

UNAMI-Compact
Iraq’s international partners pledge their support - UNAMI

Baghdad, Nov 1, (VOI) – The preparatory meeting on the International Compact with Iraq (ICI) held in Kuwait on Tuesday has yielded a pledge from the partners to provide financial, technical and political support to help Iraq meet challenges, the United Nations Mission for Iraq (UNAMI) said.

“A High-Level preparatory meeting on the International Compact with Iraq (ICI) took place in Kuwait City, hosted by the Government of Kuwait (on Tuesday). The purpose of the meeting was the final consolidation of support for and endorsement of the International Compact with Iraq, as jointly presented by the Government of Iraq and the United Nations,” the UNAMI said in a statement on Tuesday.

The meeting event was attended with representation of 20 States, regional and multilateral institutions, the formal members of the preparatory group for the ICI, said the statement received by the independent news agency Voices of Iraq (VOI).

Iraq agreed with the United Nations in July on establishing new partnership for Iraq with the international community through “the International Compact for Iraq”.

The primary focus of the Compact will be to build a framework for Iraq’s economic transformation and integration into the regional and global economy.

“The meeting marks the completion of the preparatory process of the ICI which has been developed by the government of Iraq with support of the United Nations and the World Bank, under the prevailing difficulties,” UNAMI statement said.

The ICI is an initiative of the Government of Iraq for a new partnership with the International Community, it added.
“The Compact, jointly co-chaired by the Government of Iraq and the United Nations, with the support of the World Bank, will over the next five years, bring together the International Community and Multilateral Organizations to support Iraq in achieving its National Vision.
“This Vision seeks to build a secure, unified, federal and democratic nation, founded on the principles of freedom and equality, and providing peace and prosperity for all its people, and fully integrated within its region and the international community,” the statement said.

The UNAMI said that domestically the Compact aim was to complement a National Compact around the government’s political programs and restore the Iraqi people’s trust in the state and its ability to protect them and meet their basic needs.

“Internationally, the Compact establishes a framework of mutual commitments that will support Iraq and strengthen its resolve to address critical reforms and policies,” it said.
“Iraq’s international partners have pledged to provide financial, technical and political support to help meet these challenges on the basis of mutual commitments to the necessary steps required to realize their shared vision for the normalization of Iraq,” the statement said.

The UNAMI said the formal adoption of ICI is scheduled for a high-level meeting during the next six weeks.
It was not clear where the meeting will take place.

USA has $ & cents, UK has £ & pence.

What does Iraq have, Dinars & ??

Originally Posted by laurenr

USA has $ & cents, UK has £ & pence.

What does Iraq have, Dinars & ??

Dinars & Fils

Originally Posted by laurenr

USA has $ & cents, UK has £ & pence.

What does Iraq have, Dinars & ??

Fils / 1000 to the Dinar / although, as they are currently not worth spit, they don't use them as far as I know . . .