Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

Adviser Central Bank (Iba): issuing instructions required to disclose any money into their banks in Iraq

detect adviser for the CBI and coordination with international bodies and relevant local agencies to follow up on the phenomenon of money laundering.

Appearance, "said Dr. Mohammed Saleh told the independent press (Iba) said Tuesday that the bank had previously issued a set of instructions required to disclose any money into their banks in Iraq, whether governmental or civil and follow-up of suspicious transactions to ensure that used in the crime or terrorist financing. Indicating that the purpose is to control crime and not to withhold economic freedom.

He said the bank first called to the fight against money laundering and follow-up and the basis for cooperation with the International Committee World Anti-money laundering and countering these attempts and to impose sanctions on the perpetrators of this crime and the practical steps taken, to avoid exploitation of the country a haven for illegal money.

Salih noted that the information collected by the Central Bank in cooperation with Iraqi banks refers to the absence of the banking system of this phenomenon is now. He emphasized that certain procedures and steps taken by Iraq in order to address this crime and ensure the safety and effectiveness of the measures adopted by the country.

It should be noted that the law CBI contained paragraphs important follow-up phenomenon and the diagnosis of those who made it in collaboration with the regional and international levels.

http://www.ipairaq.com/index.php?nam...onomy&id=20098

Minister of Oil: a decisive encounter with Japan Coalition on the field of Nasiriyah next week

Oil Minister Hussein Shahristani said a meeting with a coalition critical of Japanese companies had previously signed an initial contract to develop the field of Nasiriyah will be next week, after reluctance in the negotiations.

He said al-Shahristani said Monday that "the aim of concluding the contract with Japanese companies, was developed to expedite the contract differs from contracts and licensing rounds held so-called EPC, but companies that have applied for development stalled in negotiations."

He stressed that the ministry "if it did not reach an agreement with them will take the development process itself is able to do so where the process has already begun production from the field."

Iraq has enormous oil reserves exceeding 120 billion barrels, or 11 per cent of the world's total, ranking third in the world with a lack of exploration operations and development since the seventies of the last century, while U.S. studies estimated reserves of around 350 billion barrels.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-18

Iraq's Kurdistan Regional Government to ratify the 2010 budget

Council of ministers of the Government of Iraq's Kurdistan region on Tuesday in Arbil province through its regular headed Barham Ahmed Saleh, head of the regional government on the budget of the province for 2010.

The media source in the Office of the President of the Kurdistan Regional Government has said on Tuesday that he will be announced on the budget for 2010 for the territorial government.

The source said the Prime Minister of the Kurdistan Regional Government Barham Saleh announced on Tuesday at a news conference budget for 2010 in the province.

The source added that the press conference will be held in the building of the Council of Ministers in Erbil province, indicating that the budget strategy for projects in Kurdistan.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-19

Central sales in 2009 exceeded $ 33 billion

Sales from the Central Bank of the dollar over the past year about 33 billion dollars, mostly in the form of remittances outside the country.

The exchange rate was to Mnattvin changed the nature and volume of such sales have been the imposition of the central crack down and raise the commission has resulted in increased domestic interest rates by 10 points.

And record the exchange rate consistent basis during the past year has been reduced after a single point of 1171 dinars per dollar to 1170 dinars per dollar since mid-January 2009, which continued until today.

The total amount of sales of the Central Bank during last year's $ 33 billion, mostly in the form of remittances outside the country based on a fixed exchange rate since mid-January 2009 stood at 1170 dinars per dollar exchange rate while the total cash in the first half of last year 1176, bringing in the second half to 1183 dinars per dollar, and proved the exchange rate of remittances to 1173 dinars per dollar throughout the year.

Central and distributed on-demand sales total cash of $ 4,4 billion dollars at the exchange rate was 1183 dinars for each dollar of his commission, including $ 13 dinars per dollar, while foreign remittances recorded a 28,7 billion dollars, the exchange rate reached 1173 dinars to the dollar, inclusive of the Central Bank of the commission's three dinars per dollar.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-19

Al-Zubaidi: Iraq prefer companies in countries which cancels the debts accumulated by the investment is

Finance Minister Bayan Jabr said the Iraqi government would give states that reduce the debts owed by Iraq in the priority investment projects in the country.

He Zubaidi said in a statement carried by the news agency that Baghdad Buratha to give preference to investment companies of the States which shall hide the debts on Iraq by 100% to work in the country.

And that Iraq had managed to write off some debt owed by the States United Arab Emirates, Denmark, Tunisia, USA, Cyprus, Malta and by 100%, while the other reduced debt by 80% for a number of countries, including Russia, Germany and France.

He pointed out that al-Zubaidi debts owed by Iraq to Saudi Arabia and Kuwait, which refused to reveal their size has not been resolved, stressing that Iraq is seeking to sign a number of agreements to reduce debts, with some Arab countries like Egypt and Morocco.

http://translate.googleusercontent.c...o0ub_9LVnZ8o_Q

New mechanism to guarantee protecting Iraqi money

The Council of Ministers decided on Tuesday to form a ministerial committee to have a mechanism to guarantee protecting the Iraqi money after the end of the development of Iraq fund’s guardianship by the end of 2010.

“The council decided to form a committee under deputy premier, which will include also foreign, finance, planning, oil and justice ministers as well as the governor of the central bank to guarantee the protection of the Iraqi money after the end of the development of Iraq fund’s guardianship in 2010,” said the statement released by the office of Spokesman Ali al-Dabbagh received by Aswat al-Iraq news agency.

“The committee should complete its works in 30 days and to provide its recommendations to the cabinet,” it added.

http://en.aswataliraq.info/?p=125517

Government approves amendments on 2010 budget

The Iraqi Council of Ministers approved amendments on the country’s 2010 budget proposed by Parliament, the official spokesperson of the Iraqi government said on Tuesday.

“The Council agreed to allocate ID267,385,000,000 to the Parliament, and 313,569,650,000 to the Supreme Judicial Council, in addition to ID250,000,000,000 to the two institutions of martyrs and political prisoners,” Dr. Ali al-Dabbagh said in a release received by Aswat al-Iraq news agency.

He said that the Council also approved ID263,511,000,000 as Kurdistan’s shares of the budget to develop regions.

http://en.aswataliraq.info/?p=125505

Voting on budget in coming two days - MP

Voting on the 2010 general budget will took place in the coming two days, according to the head of the parliament’s financial committee said.

“We have finalized the final report of the 2010 draft budget after receiving it from the Council of Ministers and we will vote on it on Wednesday (Jan. 20) or Thursday (Jan. 21),” Alaa al-Saadon told Aswat al-Iraq news agency.

The parliament had returned the general budget to the cabinet to make some amendments on it.

“The Council of Minister refused to increase the financial allocations requested by some committees as it believed that increase will raise the budget deficit,” she added.

http://en.aswataliraq.info/?p=125486

Iraqi central bank governor sees lower rates ahead

The Iraqi central bank is likely to lower interest rates from their current 7 percent, but the extent of any cuts will depend on inflation, the bank's governor said on Tuesday.

Sinan al-Shibibi also told Reuters T.elevision in Tokyo that he does not expect any major disruption to the country's economy from an upcoming election in March, seen as a crucial test for Iraq as it tries to pull away from the bloodshed that followed the 2003 U.S.-led invasion.

The central bank brought down interest rates to 7 percent from 9 percent last June in line with a fall in inflation.

"Probably they are going to be lower than 7 percent. But of course this will depend on inflation vis-a-vis growth." he said. "We'll have to monitor very closely."

The official interest rate in Iraq is more of a guide to bank rates than a direct monetary mechanism as the banking sector is small and capital markets are undeveloped.

"Monetary policy will follow developments in inflation," Shibibi said, adding that the central bank has managed to bring down inflation using monetary policy.

Inflation has come down to around 6.0 percent, Shibibi continued. Though volatile, core CPI inflation was 9.2 percent at the beginning of last year.
Shibibi said the Iraqi economy, driven mainly by oil production, is expected to grow a little bit more than the IMF's projection of 5.8 percent this year, shrugging off concerns about security ahead of the March 7 election.

The government of Shi'ite Muslim Prime Minister Nuri al-Maliki is seeking re-election but the country is still dogged by sectarian violence.

"It (violence) will die down once the economy grows more and income levels increase," Shibibi said.

http://www.forexyard.com/en/news/Ira...300Z-INTERVIEW

Obama urged to free Iraq's Aziz on humanitarian grounds

A lawyer for Iraq's jailed ex-deputy prime minister Tareq Aziz, hospitalised after suffering a stroke, on Wednesday urged US President Barack Obama to free the 73-year-old on humanitarian grounds.

"I call on American President Obama to release my client from jail for humanitarian reasons so we can move him out of Iraq and save his life," Amman-based lawyer Badie Aref told AFP.

"I telephoned the Americans (in Iraq) today, and they told me his condition is stable but refused to give me any details. I fear for his life. I heard he lost the ability to speak and that his health is deteriorating."

Aref said he was also trying to contact the Vatican through French and Italian lawyers to help release Aziz, who hails from a Chaldean Catholic family.

The lawyer said on Sunday that Aziz has been moved from jail to an American military hospital in the US base at Balad, 70 kilometres (45 miles) north of Baghdad, after a stroke on Friday.

One of a handful of long-term senior survivors of Saddam Hussein's regime, Aziz, who has been convicted for crimes against humanity, is reported to have already suffered two heart attacks in custody.

Named foreign minister in 1983 and then deputy premier minister in 1991, Aziz turned himself in to US forces in April 2003, just days after Saddam was overthrown.
About 4.4 million Iraqis have fled their homes since the invasion almost seven years ago, with about 750,000 now living in neighbouring Jordan, according to UN and Jordanian figures.

http://www.zawya.com/Story.cfm/sidAN...rian%20grounds