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

Originally Posted by Hope Full

again old news but same statements different people, I do find it interesting that they say it won't do anyone any good??? (that's whay it has to be higher than the dollar so no one gets screwed.)
Raising the dinar to reduce prices in market
Increasing the value of the Iraqi dinar against the dollar may hurt imports but it will help domestic trade.
14 December 2006 (The Globe)

The news about the appreciating value of the dinar against the dollar has hit the market in Suleimaniya hard. Many will lose their jobs. People believe that neither the government nor the Central Bank can carry out such a critical decision.

Why should people lose their jobs? He doesn't even try to explain, or give a theory. And how on earth could it hurt imports? I'd really like to know which "people" told him that neither the government, nor the Central Bank can carry out such a critical decision. I thought the people were pressing for this for ages! And who should decide - my aunt Marge? This is pure nonsense!

Mr. Ali Abdullah of the Bank of Harem (The Regional Bank) says that attempts to raise the value of the dinar are not something new, but many preparations have been made in order for the plan to go ahead. He says that the decision was made to overcome the economic crises in Iraq.

"To increase the value of the dinar, the government has to increase exports and produce more goods," Mr. Abdullah believes.

Despite the fact that no official spokesperson from the Central Bank has ever issued such a firm decision decreasing the dollar value to 1250 ID from its previous value of 1450 ID has created an unnatural shake in the local markets.

Professor Dr. Narmeen Marouf, an economist, tells the Kurdish Globe that this move from the Central Bank aimed at solving the inflation crated due to the high value of the dollar. "If the value of the dinar goes up, the price of goods will decline sharply; they have been paid off in dollars and are sold in dinars," she says, adding that the Central Bank has also tried before to reduce prices and balance off the supply and demand in the local markets. "As the value of the dinar increases, consumers and the local merchants are the first to benefit."

At the moment, Iraq is not exporting any goods other than oil. Almost all goods in Iraqi markets are imports; hence the inflation, particularly when the value of the dinar declines for having no support, although it is quite possible for a decision as such to be made in order to reduce domestic issues. The decision will have two beneficiary forces - it will help Iraq vie for foreign markets and reduce prices in local ones.

"Since rumours started that the dinar was going to increase in value, many have faced sever financial damages," Kamaran Ali, of Money Mart, says. However, he does not believe in such a decision. "Increasing the value of the dinar" he says, "will not benefit anyone."

The only Money Mart I know is a payroll loans franchise - how does this qualify this Kamaran Ali to comment? And, of course, he couldn't possibly be biased - I'm sure the independantly wealthy are frequently in need of payroll loans.

After 2003, the Iraqi Central Bank decided to peg the value of the dinar. Primarily, a dollar was equal to 1,450 ID, until the value of the dinar was reduced and a dollar became 1,470 ID, then 1,500, at which the price the value of the dinar seemed to stay still.

Articles like this really bug me. I really think reporters should be required to pass IQ tests, and prove that they are mentally and emotionally sound.

Originally Posted by Hope Full

found this over "there"

Originally Posted by pokerfool
Clients

The Iraq Stock Exchange is open for international investors who desire to contribute to the reconstruction of the Iraqi Economy. New legislation with the purpose of liberalising the oil-rich Iraqi economy and promoting free market economics stipulates that:
foreign investor shall be entitled to make foreign investments in Iraq on terms no less favorable than those applicable to an Iraqi investor, unless otherwise provided herein. Ref: Investment Law
The amount of foreign participation in newly formed or existing business entities in Iraq shall not be limited, unless otherwise expressly provided herein. Ref: Investment Law
A juridical or natural person foreign or domestic has the right to acquire membership in (all) companies … as a founder, shareholder or partner . Ref: Commercial Company Law
To deal with Aman Financial Services Inc, the investor is required to open an account, for which he is required to fill an Account Opening form.
Down Load Form
(To save form: right click on link and select SAVE TARGET AS)
The form should be filled, duly signed (and stamped in case of companies and institutions) and faxed to Aman Financial Services along
(+9641 7197135) with the following documents:

For companies & Governmental Institutions:
Commercial Registration Certificate
List of authorized signatories
Specimen of authorized signatures
Authorization from company assigning individual employee with the responsibility to handle the account.
For Individuals

- Copy of Passport or ID

After opening the account, the investor can deal on the ISX trading floor through Aman Financial Services, by placing orders with our brokerage department.
Arrangements for placing orders should be agreed upon with the brokerage department (+9641) 7197135
Download Buy Form Sell Form
(To save form: right click on link and select SAVE TARGET AS)
An internet facility for placing orders will be available in due time.
If you need help with details of dealing, please click here for contact details.

http://www.isx-aman.com/


Are you telling me that the FIL is enacted?


Thanks,

AL

Originally Posted by adm

Originally Posted by pokerfool
Clients

The Iraq Stock Exchange is open for international investors who desire to contribute to the reconstruction of the Iraqi Economy. New legislation with the purpose of liberalising the oil-rich Iraqi economy and promoting free market economics stipulates that:
foreign investor shall be entitled to make foreign investments in Iraq on terms no less favorable than those applicable to an Iraqi investor, unless otherwise provided herein. Ref: Investment Law
The amount of foreign participation in newly formed or existing business entities in Iraq shall not be limited, unless otherwise expressly provided herein. Ref: Investment Law
A juridical or natural person foreign or domestic has the right to acquire membership in (all) companies … as a founder, shareholder or partner . Ref: Commercial Company Law
To deal with Aman Financial Services Inc, the investor is required to open an account, for which he is required to fill an Account Opening form.
Down Load Form
(To save form: right click on link and select SAVE TARGET AS)
The form should be filled, duly signed (and stamped in case of companies and institutions) and faxed to Aman Financial Services along
(+9641 7197135) with the following documents:

For companies & Governmental Institutions:
Commercial Registration Certificate
List of authorized signatories
Specimen of authorized signatures
Authorization from company assigning individual employee with the responsibility to handle the account.
For Individuals

- Copy of Passport or ID

After opening the account, the investor can deal on the ISX trading floor through Aman Financial Services, by placing orders with our brokerage department.
Arrangements for placing orders should be agreed upon with the brokerage department (+9641) 7197135
Download Buy Form Sell Form
(To save form: right click on link and select SAVE TARGET AS)
An internet facility for placing orders will be available in due time.
If you need help with details of dealing, please click here for contact details.

http://www.isx-aman.com/


Are you telling me that the FIL is enacted?


Thanks,

AL

it looks that way, but when well we find out do they trade on sunday or monday?

More good news is coming. I think regarding the isx-aman website statements the FIL is enacted or will be enacted this weekend, because ISX trading is monday again.

Here is more good news telling that HCL is done and they are getting started with pumping.


Iraq Oil : Three oil fields to be developed in Maysan
Thursday, December 14th 2006

The engineering and technical staffs in the body of Maysan oil fields started a project of developing and investing three oil fields in Maysan to support the productivity of crude oil and its products.

A source in Maysan oil fields said, "The oil fields spread within the boundaries of the province with the total productivity of 500,000 barrels of crude oil a day."

The source added that the work includes installing plants for isolating gas and maintaining the pipes stretched from the oil wells to the pumping stations to the oil complex of Bazirgan. These oil fields will make qualitative progress in the productivity of the crude oil in Amara.

The cabinet has approved establishing Maysan Oil Company as independent from the South Oil Company because Maysan province has a vast reserve and rich oil fields of high quality specifications.

Three oil fields to be developed in Maysan

Iraq Industries : Iraq's Ministry of Industry rehabilitates stopped enterprises
Wednesday, December 13th 2006

Iraq's Ministry of Industry, in cooperation with the Iraqi Businessmen Union (IBMU), began studying procedures to rehabilitate closed private sector enterprises.

The Head of the IBMU, Ragheb Ridha, said that they have begun to study the reasons behind the closing of these enterprises.

Iraq\'s Ministry of Industry rehabilitates stopped enterprises

Iraq Oil : Asian companies invest in Iraq's oil sector
Wednesday, December 13th 2006

Japanese, Chinese and Indian companies have expressed their intention to cooperate with Iraq in rehabilitating the Iraqi oil sector.

Minister of Oil Hussein Shahristani has said that the Asian market is a promising market for Iraqi oil.

Asian companies invest in Iraq\'s oil sector

Iraq Electricity : World Bank supports hydropower in Iraq
Wednesday, December 13th 2006

On Dec. 12 the World Bank's Board of Executive Directors approved a credit of $40 million for Iraq.
The credit will finance urgent repairs of two hydroelectric power stations located in the Kurdistan region and prepare for their subsequent full rehabilitation.

The Dokan and Derbandikhan Emergency Hydropower Project will support Iraq's efforts to improve electricity supply in the country in accordance with Iraq's National Development Strategy, which emphasizes the need for rapid rehabilitation of critical infrastructure to improve basic service delivery.

"The project is the first World Bank operation to benefit s electricity sector. We hope that this will be the start of a long-term relationship with the Ministry of Electricity to help Iraq provide a reliable supply of electricity to the entire population," Tjaarda Storm van Leeuwen, the project's task team leader, said. "We are also working with the Ministry of Electricity to finalize the preparation of a second electricity project for World Bank financing."

The objective of the project is to alleviate the current power supply shortfall by improving the operating performance of the Dokan and Derbandikhan power stations through urgent repair works. According to the World Bank, the project will also strengthen local capacity and prepare for the subsequent full rehabilitation of the Dokan and Derbandikhan hydropower plants in order to restore their original capacity of 400 and 249 megawatts respectively.

The project is part of Iraq's overall Electricity Master Plan and will provide electricity in the Kurdistan region

and to the interconnected national grid. The project will directly impact about 490,000 households and will also benefit industrial consumers, thus improving the standard of living and promoting employment, according to the World Bank.

The $40 million credit will be provided by the International Development Association (IDA), an arm of the World Bank Group that provides financing on concessional terms to eligible countries. The terms of this credit include a 35-year maturity with a 10-year grace period.

This is the third IDA-financed credit approved for Iraq. The World Bank has previously approved $235 million in IDA credits for education and road rehabilitation. In addition, the World Bank Iraq Trust Fund, within the International Reconstruction Fund Facility for Iraq, has financed 15 projects amounting to $410 million to improve education, health, household data, irrigation and drainage, social protection, telecommunications, urban infrastructure, and water supply and sanitation.

World Bank supports hydropower in Iraq

The Republic of Iraq
The Cabinet-governmental organizations - the Communications Media Relations-Press Release Press release

Information Mention
To / media all

Greetings ...

We wish to inform you that the Director of the National leadership of the Ministry of Interior Brigadier Karim Khalaf held a press conference however, in two p.m. today, Thursday, approved the 14th of this month in a building Aladnani minors.

Therefore, appropriate note

With appreciation

anyone find what was said at this press confrence?

Originally Posted by Hope Full

found this over "there"

Originally Posted by pokerfool
Clients

The Iraq Stock Exchange is open for international investors who desire to contribute to the reconstruction of the Iraqi Economy. New legislation with the purpose of liberalising the oil-rich Iraqi economy and promoting free market economics stipulates that:
foreign investor shall be entitled to make foreign investments in Iraq on terms no less favorable than those applicable to an Iraqi investor, unless otherwise provided herein. Ref: Investment Law
The amount of foreign participation in newly formed or existing business entities in Iraq shall not be limited, unless otherwise expressly provided herein. Ref: Investment Law
A juridical or natural person foreign or domestic has the right to acquire membership in (all) companies … as a founder, shareholder or partner . Ref: Commercial Company Law
To deal with Aman Financial Services Inc, the investor is required to open an account, for which he is required to fill an Account Opening form.
Down Load Form
(To save form: right click on link and select SAVE TARGET AS)
The form should be filled, duly signed (and stamped in case of companies and institutions) and faxed to Aman Financial Services along
(+9641 7197135) with the following documents:

For companies & Governmental Institutions:
Commercial Registration Certificate
List of authorized signatories
Specimen of authorized signatures
Authorization from company assigning individual employee with the responsibility to handle the account.
For Individuals

- Copy of Passport or ID

After opening the account, the investor can deal on the ISX trading floor through Aman Financial Services, by placing orders with our brokerage department.
Arrangements for placing orders should be agreed upon with the brokerage department (+9641) 7197135
Download Buy Form Sell Form
(To save form: right click on link and select SAVE TARGET AS)
An internet facility for placing orders will be available in due time.
If you need help with details of dealing, please click here for contact details.

http://www.isx-aman.com/

I think that they are telling us the Investment Law is enacted or will be enacted this weekend!

WWWWWWEEEEEAAAAAHHHHH!!

It is getting more exciting by the day and time is running out with the day!

Good work kiko, Susie and the rest of you.