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

Post In The Proper Threads. Again I will Just move them. Once I am tired of that I will Just Delete Them. Thanks Ahead.

Baker Jaber AL Zubaidi: Iraqi Dinar Value should be Raised 29/06/2006 Source: Al-Sabah





The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars. This was pre 1980 before Iraq became involved in three destructive wars that at one time led to the currency's value dropping to a level of 3,000 Iraqi dinars to one US dollar. The proposal has the support and approval of the World Bank.

A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank .

The new Minister confirmed that 2007 would see the preparation of a qualitative budget, the first of its kind in Iraq history, and that the new program would pinpoint economic indicators

"The central bank of Iraq unveiled that a number of Arab and foreign states released Iraqi assets frozen at their own banks, worth more than $ 10 billions.
An official source at the bank announced that several legal procedures have been adopted to regain these funds through the official bank channels in according with UNSC Resolution 1483 stipulates regaining all Iraqi assets existed abroad to the Iraqi development fund."

Al-Sabah newspaper

Originally Posted by Offshore-Wealth.com

Good question,

Having been involved in FOREX I can tell you that each currency moves independent of the others, and some will have more movement against specific currencies if one rises as the other falls, so a much more dramatic difference will be seen. On the other hand, you may see just the opposite, and one currency drops along with the other you are comparing it to.

In the case of the Krone, you would have to compare it to other currencies to determine if it did indeed drop or rise in value, which I suspect is what you are seeing. It is impossible to determine a currencies drop against a specific currency unless you were tracking all movement to get an overall average drop against all currencies as a percentage. Too many variables, and without researching it, I suspect the Krone moved in value as the dollar has lately been dropping, so it works both ways.

Happy Holiday Season to all, Mike

So...are you saying that the Swedish Krona has risen in value, too? Due to the dollar falling or whatever...then it would make sense.. Thanks!
/Karin

Officials reached a tentative agreement on the oil law
22 December 2006 (Iraq Directory)
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Iraqi officials reached a tentative agreement on an oil law that grants the regions the right to negotiate contracts for oil fields with foreign investors, but it gives the central government the final word.

Iraq is in great need for foreign investment to revive its shattered economy, which relies heavily on revenues from oil exports, especially that the country has the third largest oil reserves in the world.

Sources close to the negotiations said that Prime Minister Nuri al-Maliki, "agreed on" the draft law which is awaiting the political approval and the adoption of the Cabinet.

The source added that the law calls for the formation of a national council of oil headed either by the Prime Minister or the Deputy Prime Minister and has the right to reject deals of oilfields.

A source said that "regions will negotiate within the framework of specific standards and models of investment determined by the Federal Council of oil and gas ... In the presence of a representative of the Council".

He added, "If a contract is rejected but the region insisted on it, a body of independents experts will be appointed for arbitration".

The sources added that the Minister of Oil, the Central Bank Governor, representatives from each region and experts in the fields of oil, finance and the economy will be members in the Council.

The source said "the government of Kurdistan, accepted the review of its existing contracts to be consistent with the law".

The issue of contracts is important for the future of Iraq since reaching a solution for the benefit of the regions would transfer authority over these valuable resources to the Shiites, who represent the majority, and the Kurds whose lands include the largest oilfields in the country.

The Sunni minority, which dominated the country in the era of Saddam Hussein till the invasion led by the United States in 2003, fears that this solution will leave them nothing.

The sources said, "Contracts would not apply unless they are approved at by the council within a period of 60 days".

The sources said that the law calls for the conversion of the two Iraqi oil companies, turning into a holding company that has its own production units for managing the different areas of the sector.

According to the law, the oil policy will be determined at the central level and the Oil Ministry will be restructured and transformed into a control body; and all oil revenues will be deposited in one national account.

The sources quoted Iraqi officials saying that the law will be referred to Parliament for ratification by the end of December; however, the legislation is likely to be issued early next year because of the holydays.

Officials reached a tentative agreement on the oil law | Iraq Updates


mmmmmmmm I like this......

Mahmudiyah takes pride in market renovation
Friday, 22 December 2006
By Norris Jones
Gulf Region Central District
BAGHDAD — One of the top priorities for the mayor of Mahmudiyah is rebuilding his city’s downtown market. “It’s the heart of our community,” Muayid Fadhil said.

“We are going to build a new market as a memorial to those innocent men, women and children who have been killed there,” Fadhil said. “It will tell the insurgents we will never give up, they cannot stop us.”

That market has been the target of numerous insurgent attacks in the past year. Currently, the U.S. Army Corps of Engineers is overseeing a $245,372 project to construct new market stalls with overhead cover, and renovating storefronts along the street that have been damaged by bomb blasts and small arms fire. That work includes new doors, windows, stucco and paint, as well as new gates at each entrance of the market.

About 100,000 residents in the Mahmudiyah area (located 20 miles south of Baghdad) utilize the market and local farmers bring in their produce and meat for local consumption. It’s a main economic engine of the community “and our residents really appreciate the improvements that are underway,” the mayor noted.

Maj. Steve Martinelli, officer in charge of the U.S. Army Corps of Engineers Victory Resident Office South, says the market is a gathering place where families interact.

“It’s a source of community pride and provides a semblance of normalcy that’s great to see,” Martinelli said.

Lt. Col. Robert Morschauser, commander of Task Force 2-15 Field Artillery, 2nd Brigade, 10th Mountain Division, agrees and points out the market renovation clearly demonstrates that Mahmudiyah’s democratically elected government is working and improvements are taking place.

“Those officials are listening to their townspeople and getting things done,” Morschauser said. “We’ve talked to the shopkeepers and they’re very happy with what’s going on. This is an excellent example that Iraqi officials are in the lead.”

A number of other projects are now underway in Mahmudiyah, including a new primary healthcare center, school renovations, new power lines, and renovation of the water treatment plant and pump station. The community also is planning to build a park a few blocks from the market that will feature an amphitheater and soccer field.

The Mahmudiyah market renovation project is expected to be completed by February.


(Courtesy of Norris Jones Gulf Region Central District)

Paratroopers train Iraqis
Friday, 22 December 2006
By Sgt. Tony White
5th Mobile Public Affairs Detachment


A U.S. Paratrooper scans for targets in Samarra. Official U.S. Army photo.SAMARRA — Before to their August deployment the Soldiers of 4th Platoon, C Company, 2nd Battalion, 505th And even now in a combat zone these Soldiers find their days still filled with training. Parachute Infantry Regiment (PIR), days were filled with continual training centered on finding the enemy.

Conducting combat operations in Samarra, these Soldiers are accompanied by either the Iraqi Police or National Police three to four times a week. Working side-by-side with the security forces allows the Soldiers to show them the proper techniques while conducting operations.

“We have worked with the (Iraqi Police) a lot and we have started working more with the (National Police) to get them in the groove of how things are working,” said 1st Lt. John Daniel Johnson, platoon leader. “They still need some work, but they are getting better. I think by using our tactics and our buddy team systems, I think they can learn a lot of how we do things, why we do it and why it is so important.”

“Yesterday, one of their lieutenants was actually telling them to pull security here and the guy bounds up and gets there,” said Sgt. 1st Class Christian Requejo, platoon sergeant. “He has worked with the United States He is used to our tactics and doctrine and he is trying to implement that into his guys. But the more we work with them and the more they are willing to work with us, the faster they will come along like the (Iraqi Police) did.” for a while.

When the Soldiers first arrived in theater there was an uncertainty and a hesitancy about working with Iraqis, several Soldiers said.

“When we first got to country we didn’t know what to expect, as far as the civilians, the enemy or Iraqi and Coalition Forces,” said Spc. Wes Ducheney, a native of Greenville, S.C. “I don’t think we knew we were going to be working with them as much as we are. It took a little bit of getting used to them in our formations, in our patrols and involving them with everything. They really have become an asset to us now.”

The reluctance has to a certain degree dissipated over the rotation as the Soldiers and Iraqis have been able to move past appearances and the communication barriers to see the improvement.

“In the four months we have been working here with the National Police, you can tell there has been a lot of improvement in the police officers and their leadership,” Ducheney said. “We showed them how to patrol, scan and pull proper security. Now when we go out with them they are almost like one of guys up there. We didn’t even have to tell them what to do anymore. If they don’t know, they just look at what we are doing. It has gotten to the point that I can trust them.”

As the Soldiers have learned to trust the Iraqis, they have come to realize the constant danger the Iraqis and their families face from insurgents, who harass and threaten them for working with Americans.

“They actually put more on the line than we do,” Requejo said. “We are in somewhat of a safe environment when we are back at our patrol base, but they live in the area. We hear constantly that an IP was murdered or his family was harassed. When you hear about that and they still come to work, you understand they have just as much if not more because their families are here.”

“They do get scared sometimes and it is certainly understandable,” Ducheney added. “So many of them get killed and it’s not just them that get killed, it’s their whole family but these guys really go above and beyond.”

The Soldier’s compassion for their Iraqi counterparts and their hardships is reciprocated through the Iraqis admiration for the U.S. Soldier.

“Its funny they kind of look at us like super heroes or something like that,” Ducheney said. “I don’t know maybe because we have the big guns. Most of them really like us and we have a good relationship. It’s good to know that we inspire them. Hopefully they can keep doing everything we have established once we are gone.”

Iraqi pilgrims die at Saudi border

Saudi Arabia has agreed to admit more than a thousand Iraqi pilgrims stranded at the border, where four have died, after the Iraqi government appealed to the Saudi king, an Iraqi official said.

The pilgrims were denied entry for several days apparently because they did not have visas issued for Islam's annual hajj pilgrimage to Mecca.




The four died while camping in the cold weather in the desert along the Saudi-Iraqi border, Zahid al-Bayati, a spokesman for the Iraqi committee organising the pilgrimage, said.

He said: "We asked the king to end the suffering of the stranded pilgrims and he responded positively to our appeal."







"All the pilgrims who came by land are now in Saudi Arabia. We extend our thanks to the Saudi king."



Al-Bayati had said that about 1,205 legitimate pilgrims had been prevented from crossing the remote Arar border post.



He said: "The problem is that some pilgrims were not able to fly for the lack of space on our planes.



"At least four Iraqi pilgrims have died of cold and hunger at Arar.



"Iraq is allowed to send 32,000 pilgrims. Iraq has not exceeded that quota."



Pilgrim quota



In Riyadh, a Saudi official did not explain why the pilgrims had been denied entry, but said the kingdom always admits Iraqi pilgrims with valid visas.



The official, who spoke on condition of anonymity because he was not authorised to speak to the media, said about 12,836 Iraqi pilgrims had crossed the border to perform hajj this year.



Under a quota formulated by the Organisation of the Islamic Conference, Saudi Arabia issues 1,000 visas for every million people in a particular country.



Last year Iraq's Shia-led government accused Saudi Arabia of blocking some Iraqi pilgrims.



But Prince Nayef bin Abdul Aziz, the interior minister, rebuked the Iraqis for sending more than their quota of pilgrims.



Neither Iraqi nor Saudi officials have said whether the stranded pilgrims were Shia or Sunni Muslims.



Privately, Saudi officials have accused the Baghdad government, which is Shia-controlled, of giving more visas to Shia pilgrims than to Sunnis. The Iraqi government denies this.

Published on Friday, December 22, 2006 by the Baltimore Sun (Maryland)
Women's Rights Another Victim of the Iraq Catastrophe
by Kavita N. Ramdas

The Organization of Women's Freedom in Iraq recently issued a frightening report documenting the growing practice of public executions of women by Shiite militias. One of the report's more grisly accounts was a story of a young woman dragged by a wire wound around her neck to a close-by soccer field and hung from the goal post. They pierced her body with bullets. Her brother came running, trying to defend his sister. He was also shot and killed. Sunni extremists are no better: Organization of Women's Freedom members estimate that at least 30 women are executed monthly for honor-related reasons.
Almost four years into the Iraq war, Iraqi women are worse off than they were under the Baathist regime in a country where, for decades, the freedoms and rights enjoyed by Iraqi women were the envy of women in most other countries of the Middle East.

Before the U.S. invasion, Iraqi women were highly educated. Their strong and independent women's movement had successfully forced the government to pass the groundbreaking 1959 Family Law Act, which ensured equal rights in matters of personal law. Iraqi women could inherit land and property; they had equal rights to divorce and custody of their children; they were protected from domestic violence within marriage. In other words, they had achieved real gains in the struggle for equality. Iraqi women, like all Iraqis, certainly suffered from the political repression and lack of freedom, but the secular - albeit brutal - Baathist regime did not impose tribal and religious fundamentalist laws that are now in effect and are contributing to women being kidnapped, raped and executed.

The invasion of Iraq, however, changed the status of Iraqi women for the worse. The United States elevated a new group of leaders, most of whom were allied with ultraconservative Shiite clerics. Among the Sunni minority, the quick disappearance of their once-dominant political power led to a resurgence of religious identity. Consequently, the Kurds, celebrated for their history of resistance to the Iraqi dictator, were able to reclaim traditions such as honor killings, putting thousands of women at risk.

Iraqi sectarian conflict has exacerbated violence against women. My organization, the Global Fund for Women, and the humanitarian community have long known that the presence of military troops in a region of conflict increases prostitution, violence against women and the potential for human trafficking.

Although many believed that interventions in Afghanistan and Iraq would result in greater freedoms for women, international women's rights organizations, including the Global Fund for Women, were highly skeptical of the Bush administration's claims from the start. U.S. representatives in Iraq failed to listen to the voices of independent and secular Iraqi women leaders like Yanar Mohammed, co-founder of the Organization of Women's Freedom in Iraq, during the process of drafting the constitution. As a result, the Iraqi constitution elevated Islamic law over constitutional rights for matters pertaining to personal and family matters.

For the first time in more than 50 years, Iraqi women's right to be treated as equal citizens has been overturned. This disgrace has happened on the watch of the United States. In many ways, it is no less shameful than the human rights abuses that occurred at Abu Ghraib. If left unchallenged, it has the potential to affect many thousands more innocent lives.

Because the United States has failed to protect Iraqi women, United Nations Secretary General-designate Ban Ki Moon should step in and make this cause a priority of his new tenure. The women of Iraq deserve nothing less.

Kavita N. Ramdas is president and chief executive officer of the Global Fund for Women. Her e-mail is [email protected].

Al-Sadr set to rejoin government

Muqtada al-Sadr, the Iraqi Shia cleric, has agreed to allow his supporters to rejoin the Iraqi government after a three-week boycott.



The cleric pulled out of the government three weeks ago to protest against the Iraqi prime minister's meeting with George Bush, the US President, officials close to the militia leader said late on Thursday.





"The main [United Iraqi] Alliance forces and the al-Sadr movement have agreed to solve the problems and overcome the obstacles," said Abdul Karim al-Anizi, a Shia MP from the Dawa faction.

"Within two days, the al-Sadr movement will return to the government and parliament," he said.








Al-Sadr loyalists walked out of their positions in parliament and the cabinet after Nouri al-Maliki, the Iraqi prime minister, met Bush in Jordan three weeks ago.

Two figures in al-Sadr's movement, an aide to the cleric and a member of Iraq's parliament, also said the cleric had agreed to allow his followers to rejoin the government.



"We will rejoin the government and the parliament very soon," the parliament member said, speaking on condition of anonymity because of the sensitivity of ongoing meetings.



"We have some guarantees during our meeting today," he said.



On Thursday, al-Sadr's loyalists met with members of the Shia bloc, and laid out their demands for returning to the government, the official said.

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