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

Advanced to the Ministers of the Supreme Council

Baghdad / Nina House of Representatives member from the United Iraqi Alliance list, Sheikh Hamid Maaleh that there will be no change to the Cabinet officers of the Supreme Council of Islamic Revolution. " He told the Iraqi National News / Nina / : "We believe that a ministerial changes should be accomplished through the Committee which was formed in the Committee of Seven to follow-up the performance of ministers so that meets the requirements of institutionalized work and be objective decisions concerning the performance of ministers and their ministries." The Maaleh : The Committee of Seven started observing the performance of ministers and coalition and will submit its report at the next meeting of the body

Originally Posted by shotgunsusie

i have heard that middle eastern bank branches here in the usa will handle dinar accounts.

I agree. I think this is a very real possibility. I might just pop into the Iraq Embassy in London in the next week or two (next time I'm there) and ask them to direct me to any Banks dealing in Currency from the Middle East - or ask if there is a Bank that will be dealing in dinar. See what I can find out. I'm not too worried - I really think within a period of time of this being on the International Market these things will be possible.

I thought about the HSBC because they have a 70 Percent share of the Dar El'Salaam Bank - so even if they don't let one have a dinar account - I'm sure they would organise setting up an account in their Branch in Iraq making money transfers easy etc.

I should point out this will not be possible with High Street Banks. These services are available for Private Bank Account holders only. The terms (rather obviously) is a minimum amount of liquid assets. Which vary between Banks. However, - this will not be a problem if things go well. - Yikes....

Oh PS - if this is the case in London - it will work in New York, Washington DC etc - other large Cities in USA

11/18/06

Missed opportunities for delayed by the Arab Free Trade Zone

Justice / follow-up / latter part. Included here briefly some of the challenges that the Arab League was received reports under the following headings :

President First, the weakness of the transport sector in the Arab countries. especially with regard to transit trade.

The completion of the link road between the axes of Arab States, increased energy shipping them, because of its significant role in increasing the volume of inter-Arab trade, provide solid ground to strengthen Arab trade. The two-customs duties imposed in the Arab countries, especially those relating to the protection of national production, and reduced competition, and to control the trade balances, The provision of financial resources to the state budget. and third, administrative complications in the field of trade exchange which is often, to complicate clearance procedures at border crossing. The arbitrariness in the application, and the hardliners in the verification of the origin of goods. in addition to the accumulation of several types of fees and procedures for the verification and compliance with specifications and national standards. The four non-support of the private sector in the Arab countries major Arab free trade, because it is still reluctant to support the implementation of regulations and procedures regarding the disclosure of the obstacles it faces in the framework of Member States in the region. also, the private sector remains dependent on Arab governments to adopt it for the purpose of protection and support twice its competitive ability in many cases, even before the Arab similar products.

The failure to complete all Halkelt the Greater Arab Free Trade so far, indicates that the Arab countries have softened again in the payment of joint Arab economic action. the development and gains from him, compatible with the era of economic blocs. What is now required a minimum of political will to actively pushing Arab states to complete the remaining episodes of the free trade desired, and to address all the challenges I mentioned earlier, Thus, not only add new failure to the Arab joint economic action, in addition to the failure of the experiences of other previous Arab economic unity, the Common Market, The strategy of joint Arab economic action. and other ambitious projects other.

It is ironic that with all the challenges facing the Arab free trade zone, and the failure of the Arab states in the response so far, find some Arab countries intervention in many successful experiences for the establishment of bilateral free trade areas with the main foreign trading partners, open borders with the flood-gates to the flow of trade, exempted from customs duties, implemented as stipulated in the agreements of the reforms in many areas, the most prominent anti-corruption and bribery, The transparency and openness of the economy and the protection of property rights, , as well as changes in the labor laws in place and make it suitable for ILO standards.

Without going into research and the significance of the causes of such tests, further examination shows that feed the river away from the Arab economic action in which each common Whole Arab States, isolation and limited groups of States to establish itself in a partial free trade zones with others, not in harmony with the aspirations of the Arab nation in the removal of obstacles that prevent a more Arab economic bloc, unable to stand side by side with the major economic blocs, improving the Arab countries in the international division of labor, in a world where economic accounts controlled its operations at all levels.

Originally Posted by Mike5200

It is not a dilema or a mistake on their part, it is all part of a plan- they originally sold that much dinar to fund themselves with the dollars that it was bought with. The buyback is another phase of the plan.( I am no banking or securities expert this is JMHO.) Thanks

Originally Posted by dinarminar
With all the speculation that the CBI may not be selling dinars because they are conversely trying to buy back 100's of billions of dinar to reduce the amount in circulation, it begs this question. If the CBI didn't intend to have this much dinar in circulation starting back in 2003, why didn't they just limit the amount the total amount offered for sale to Iraqi banks and / or licensed currency dealers? If this is a dilemma, it appears that the CBI created it, intentionally or not. Any thoughts from our banking / securities experts is most appreciated.

I believe the reason the large amount was put into circulation was a failed attempt at curbing the inflation, especially the extra amounts that were added in 2005 but now that they see the subsidy restrictions imposed by the IMF caused it to take a left turn they must adopt a different policy. They call it a tightening policy but we recognize it as a revaluation.

Basra - (Voices of Iraq) said the official spokesman for the governorate of Basra yesterday, Friday, that the President of the Council of Ministers expressed its agreement in principle on the integration of lab employees amputation and chemicals (south of Basra) to the Ministry of Oil.

He explained Mr. Aqeel Fariji spokesman for the governorate of Basra, in a press conference held yesterday, Friday, in the Basra governorate building, "Iraqi Prime Minister Nuri al-Maliki was agreed in principle on the transfer of the lab reference from the Ministry of Industry to the Ministry of Oil."

It is estimated that the number of employees at the plant about 4500 workers receive salaries from the state on three levels do not exceed the top 300 thousand Iraqi dinars.

Fariji said that "all the labs amputation and chemicals in the world have belonged to the Ministry of Oil of work because a substantial oil sector." It is noteworthy that the petrochemicals plant shut down since the last war for reasons of lack of financial allocations for the reconstruction of the country, where he was subjected to acts of sabotage and looting after the collapse of the Abad.

The lab is one of the biggest factor petrochemicals in the Middle East.

Posted by: saleem on Saturday, November 18, 2006 - 02:39 PM

Wassit-Kerosene
Demonstrators in Wassit protest kerosene shortage
Wassit, Nov 18, (VOI) – Scores of Kut residents demonstrated on Saturday to protest oil products shortage in Wassit province, 180 km southeast of Baghdad, demanding local authorities to resume the supply of kerosene at state-subsidized rates to the residents after a month suspension.
"Kerosene supply at state-subsidized rates for families in a monthly quota has been regular since April this year but now it has totally stopped," a protester who asked not to be named told the independent news agency Voices of Iraq (VOI).
"The process has gone a long way and most families received their rations but the city's northeastern neighborhoods have not received their shares so far," he added.
He said "we have been told that kerosene is available in sufficient quantities at the new warehouse in Kut city but we don't know why they were not distributed to the deprived families."
With the severe shortage of electricity in all the Iraqi cities, residents resorted to kerosene for heating in winter where temperature would go below 5 Celsius.
200 liters of Kerosene at state-subsidized rates are distributed through the state-owned oil products distribution company outlets across Iraq in a monthly quota to families who cannot afford a $ 0.5 per a liter at black market while a family average income is estimated at $ 100-150 a month.
The oil products company outlets have been regularly giving 200 liters of kerosene for each family in Kut. The city's local council was supervising the distribution process by virtue of ration cards.
Mr. Salah Mahdi Ta'ma, a member of Kut local council, said "we have gone a long way in distributing kerosene to 85 percent of the residents in the city according to ration cards."
Ta'ma, who is also in charge of the oil and gas committee in the council, added "the suspension came as kerosene at Kut warehouse run out, not anything else."
He said "there are large quantities of kerosene kept at the warehouse at present," noting "the current stock, imported from Iran, is exclusively preserved for the capital Baghdad according to the oil ministry's instructions."
"An amount of Iraqi kerosene will reach the warehouse soon and would be distributed to families who have not received their rations yet," said Ta'ma but did not specify the how much this quantity is or the date of its arrival.
Iran had earlier this year agreed to provide Iraq with two million liters of Iranian kerosene per day.
The Iraqi cabinet in August 2006 settled on the Zurbatiya cross-point (90 km east of Kut) to receive fuel tankers coming from Iran and to store the Iranian kerosene in Kut warehouse as a first step before carrying it to Baghdad and other provinces.

AE/


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17 November 2006 (Iraq Directory)

Iraq won membership in the Economic and Social Council of the United Nations (ECOSOC) on the continent of Asia during the elections which took place in the General Assembly of the United Nations on Thursday, 2 / 11 / 2006.

The Council is considered one of the main and important bodies of the United Nations, and it is responsible for designing economic and social policies in this organization.

Iraq has obtained 181 votes out of 192 (which is the number of Member States at the United Nations) to become one of the few States that have got a high percentage of votes.

Iraq is a member of the Economic and Social Council of the United Nations | Iraq Updates

17 November 2006 (Al-Sabaah)

Minister of planning and development cooperation, Ali Qaleep Baban has showed priorities that Iraq needs to walk at the road of economical recovering.

He added in his speech at the meeting of preparatory group of international covenant in UN office, Iraq needs building and renewing its armed forces to protect inner security of the country and rehabilitate production sectors to continue their work and overcome their problems, saying that government find it difficult to provide finance for building schools an hospitals.

Minister of Planning : Iraq needs to recover its economy | Iraq Updates

Annan and Assad discuss Lebanon, Iraq


DAMASCUS (AFP) - UN Secretary General Kofi Annan and Syrian President Bashar al-Assad on Saturday discussed the situation in Iraq and Lebanon, the official news agency SANA said.

"President Bashar al-Assad took a phone call from UN Secretary General Kofi Annan, during which they discussed recent political developments in Lebanon and Iraq", the agency said, without elaborating on the content of the talks.

On Monday the UN Security Council is expected to examine a report by Annan on creating an international court to try suspects accused of killing former Lebanese prime minister Rafiq Hariri in a massive Beirut bomb attack in February 2005.

Syria has been accused of involvement in the assassination, but this allegation is vehemently denied by Damascus.

According to Saturday's New York Times, former U.S. secretary of state James Baker, who leads the U.S. Iraq Study Group, has met high-ranking Syrian officials several times over how Damascus and Washington might cooperate over the war-ravaged country.

Citing the Syrian ambassador to the United States, Imad Mustapha, the newspaper said the meetings involved Syrian Foreign Minister Walid Muallem and took place in September in New York.

Brown reveals £100m aid for Iraq
Last updated at 08:30am on 18th November

Chancellor Gordon Brown paid his first visit to Iraq and said he hoped to see a reduction in the numbers of British troops there within the next few months.

Mr Brown announced £100 million worth of reconstruction aid for the country as he met Iraq's Deputy Prime Minister Barham Salih in Basra during his day-long trip.

He urged the Iraqi authorities to press ahead with reconstruction work, which he said would offer ordinary people the prospect of jobs and prosperity and counter the appeal of extremist violence.

The new money will be used for reconstruction aid over the next three years, said a Treasury spokesman.

Britain has already committed £544 million by the end of this year as part of a donors' agreement sealed in 2002.

Britain is the first of the donors to draw down all of the money pledged at that stage, and is consequently making a further commitment, said the spokesman travelling with Mr Brown.

Mr Brown was accompanied on his trip to Iraq by the Chief of Defence Staff Air Chief Marshal Sir Jock Stirrup, the armed forces' senior officer.

He said in a statement: "I am here to see and pay tribute to the important work our forces are doing and to meet Iraqi ministers to discuss the challenges ahead.

"We are committed to supporting the Iraqis in building a democratic nation which brings security and prosperity to its people and plays a full part in the region and the world economy."