Thread: Archive News - Iraqi Dinar Think Tank - 28/03/10 - 21/06/10

Advisor to the Ministry of Finance: the citizen's confidence on the banking sector has started to weaken

He said Advisor to Finance Minister for Diya banks Alckheon the citizen's confidence in the private banking sector has recently started to weaken as a result of certain behaviors and negatives in the performance of banking.

The Alckheon in contact with the agency and the independent press (Iba) "Despite the drawbacks suffered by the private banking sector, but limited effects on the Iraqi economy that most of the heavyweight banking is located on the banks of government."

And explained, "The private banks have a small portion of the deposits and the potential of the banking sector by comparing the year."

"The private banking sector confidence was shaken after the discovery of cases of fraud and fictitious money orders and some behaviors, which called for the state to intervene and to hold negligent in those institutions."

The private banking sector is not more than 10% of the volume of transactions in the morphological system in Iraq to the fact that most of the deposits and transactions are made with government banks of Bmsrvi rational and Iraq.

http://www.ipairaq.com/index.php?nam...onomy&id=25404

Economist: the private banking sector is still weak in Iraq

An economic expert that the private banking sector is still weak in Iraq did not reach the level of investment to that degree that we see developed in the rest of the world.

An expert on behalf of Creative Commons in connection with the Agency for the independent press (Iba) "until the Ministry of Finance to prevent deposit of government funds in private banks, despite the announcement of the state of openness and orientation of the economy of the state of the market."

The beautiful "No environment appropriate to help develop and progress the private banking sector, the central bank has set conditions unfair to these banks as well as the development of the country and being under Chapter VII prohibits Iraqi banks from opening accounts made abroad only after you find a partner from these countries."

Stating that any particular Iraqi bank was unable to open an account outside Iraq until after an agent is guaranteed in those countries.

He drew beautiful to the central bank has an impact on private banks, its decision on raising its capital within a period not exceeding in the Start of the three years to be extended later to five years, although it will affect directly on the Iraqi market and will lead to times of investors and lead to swallowing the owners of the huge capital of their counterparts from small investors.

http://www.ipairaq.com/index.php?nam...onomy&id=25405

Activate the sub-committees set up by the Alliance coalition rule of law and the Iraqi National Committee for the nomination of Prime Minister

Alliance holds the rule of law and national meeting today important to activate and the designation of members of committees set up by the coalition.

He declared a member of National Coalition Sheikh Humaid Maaleh leaderships Alliance coalition of national and state law will be held today an important meeting to activate the sub-committees including the Special Commission candidate for the premiership and the designation of its members. Maaleh said the meeting would focus on activating the role of the commissions agreed upon as well as finding a common vision among the coalitions.

http://www.alfayhaa.tv/news/iraq/31544.html

Meetings in Cairo to establish a free trade zone between Iraq and Egypt

The Ministry of Industry and Minerals, they conducted a series of meetings with Cairo to discuss the idea of establishing a free trade zone between Iraq and Egypt, as well as Jordan, confirmed that a final agreement to this effect has not been until now, while considered economists that the establishment of such a zone will in revive the Iraqi economy, but some of them proposed to establish those areas with the European countries. Minister of Industry and Minerals Fawzi Hariri, said that the last period witnessed the signing of several memorandums of understanding with the Egyptian companies, with a view to strengthening the role of the private sector in the development of the Iraqi economy.

http://www.alsumaria.tv/ar/Economics...ith-Egypt.html

Tracking a gang specialized fraud and fraud to sell foreign currencies in Basra

The head of security and defense committee in the Basra Governorate Council Ali Ghanim al-Maliki today, that the security forces are hunting the gang members out fraud in the sale of foreign currencies.

Maliki said Iraq told our house, that the security services round the clock traced gang experienced in the field of fraud on the citizens of the sale of foreign currencies to weaken real prices.

Maliki said the gang, the practice of the monument to citizens and the sale of thousands of Asian currencies, the poor at exorbitant prices they feared excuse themselves barred from resorting to an assignee banking.

He added that the gang members, and fool simple people to sell foreign currencies for the economically poor countries at prices exceeding several times the true financial value to them.

Indicating that the information collected on the work of this gang indicate that its members practiced scams and fraud, the right of citizens in the revival of Algeria and the publican and Zubair and Basra by impersonating qualities of Arab traders from the Gulf countries and Lebanon.

http://iraq-beituna.net/iba/index.ph...22-39&Itemid=1

Originally Posted by Seaview

Required Aldoairaovernmip and banking offices in Hilla, the receipt of currency, shredded

Council decided to eliminate the Requirement for Hilla All government departments, banks and petrol stations The city's receipt of torn banknotes of all categories and not to reject it because of damage.

The President of the Council determined Kazem Issawi to the reporter That "the Judicial Council has unanimously decided to require banks and government departments, including gas stations, citizens and banking offices In the city of Hilla receipt of torn banknotes issued by the Central Bank of Iraq and not to reject it and traded in local markets in order to preserve the dignity of the Iraqi dinar and facilitate the citizens who owned as well, banks are required to receive the banknotes category 250 dinars by the citizens in the case of the deposit they have. " He stressed "the The Council will take legal action against those who do not comply with the Council on this matter and calling on citizens to report any case of violation of this type by listed entities."

http://al-iraqnews.net/new/governorate-news/9423.html

Refused to accept paper currency damaged in Karbala

Citizens complained in Karbala's refusal to business owners to deal with currency notes that have been affected some damage. Intended to cut off damaged a nearby part of one of the numbers carried by the currency in the four corners, or torn paper and re-glued with adhesive tape transparent. And puzzled by up to him such currency notes in how it was spent, as people and not accepted by shopkeepers.

And became the paper currency damaged a problem for all, it has some of them seeking to empty his pocket of it, does not have some of them keen to to contact him, and some say that "the fear of currency damaged become reminded him of the days line Alvesforp, which the citizen looking them in the currency paper which was printed in Iraq, fearing that it be a fake."

Certainly the solution to this problem, but State-owned banks, particularly the central bank, however, citizens have complained about the rejection banks receive currency shattered or that have been affected have been damaged, and some of them said that when he see one of the banks with the aim to replace some categories of paper damaged advised the employee to go to Baghdad to be able to replace , while another stressed the rejection of all banks to receive paper currency damaged or torn, but the President of the Economic Committee in the province of Karbala Tariq Kikhany emphasized during his interview with Radio Free Iraq that the banks in the city, obliged to replace damaged currency.

The funny thing is that we have through the collection of material for this report, we met one of the beggars, is also stressed that it does not accept damaged currency and is keen to preview the largesse of the hands of good people, fearing that it gives one currency is damaged or torn.

Finally pushed the fear of currency damaged citizens to inspect and examine the banknotes when buying and selling operations, while the replacement of currency by the state issue does not seem complicated.

http://non14.net/display.php?id=8897

Thousands of former Baathists get new posts in Iraq’s public sector

More than 15,000 members of the former Baath party have returned to the jobs they occupied prior to the 2003-U.S. invasion of Iraq during the past six months.

The members held high-ranking positions in the Baath party organizations. Among them were people who served as ministers and director generals under the Baath regime.

The move signals openness and tolerance on the part of the government and a strong step towards reconciliation.

One of the biggest post-U.S. invasion blunders has been the decision to disband the Baath party and sack its members who held jobs in the government or the public sector.

The Iraqi army was also disbanded. So were the multifarious security and intelligence organs.
The decisions were reported to have thrown hundreds of thousands of people onto the street without jobs and income.

The committee overseeing the process known as debaathification now says 17,000 former Baathists who served as party division leaders were returned to their jobs.

Intifadh Qanbar, an official in the committee, said there were 32,000 such leaders in Iraq before the U.S. invasion. He said all were entitled to return to their former jobs or go on pension if they required so.

Qanbar said there was only 2 per cent of the total number of former Baathists who were not allowed to return to their former jobs. He did not say whether the committee would reconsider their case.

Those who returned to their former posts will get the salaries and benefits their colleagues enjoyed while unemployed.

But they are not allowed to get senior posts in the government such as ministers, director generals or even school principals.

http://www.azzaman.com/english/index...05-19\kurd.htm

Finance minister stresses importance of following up m.obile operators’ performance

Finance Minister Baqer al-Zubaidi stressed on Wednesday the importance of following up m.obile operators’ performance, according to a finance ministry’s statement.

“Al-Zubaidi received on Wednesday (May 19) head of the communication authority, Safaa Rabia, and the authority’s members, with whom he underlined the importance of following up the performance of m.obile operators in Iraq (Zain, AsiaCell and Korek Telecom),” said the statement received by Aswat al-Iraq news agency.

http://en.aswataliraq.info/?p=131968

CBI dollar sales up to $169m

The Central Bank of Iraq’s (CBI) dollar sales went up to reach $169.100 million in its daily auction on Wednesday, compared to $127.903 in the previous session.

“The demand hit $4.550 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $164.550 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 15 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=131954

UAE – Iraq trade exchange exceeded $5b in 2009 – Minister

Trade exchange between Iraq and the United Arab Emirates (U.A.E) exceeded $5 billion in 2009, the U.A.E.’s foreign trade minister said on Wednesday.

“Iraq is the second Arab economic partner to the U.A.E,” the minister said.

She noted that U.A.E. trade exchange with Iraq ranks 11th compared to that with other countries throughout the world.

Earlier, the 1st Trade Conference between the Iraqi Kurdistan Region and United Arab Emirates (U.A.E.) began in Arbil city.The conference was attended by Kurdistan’s regional prime minister and U.A.E.’s foreign trade minister, in addition to officials and businessmen from both sides.

http://en.aswataliraq.info/?p=131947