Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Iraq's integrity : 30 inspectors in a training course on combating corruption in Cairo

The head of Iraq's Integrity Commission said on Sunday that 30 inspectors, from various Iraqi ministries have joined a training course in Cairo, the Egyptian authority for the implementation of national strategy to combat corruption in Iraq.

Rahim said Ugaili told Kurdistan News that "the integrity of Iraq and the Egyptian authority have carried out preparations for the training course which will last, two weeks," pointing out that "The course includes training on the mechanism of implementing the national strategy to fight corruption in Iraq."

"The Iraqi Commission on Public Integrity and the already established a similar session in Baghdad," adding that "the current session in Cairo, characterized by a sophisticated staff in lectures, with possessing rich experience in ways to combat corruption."

Ugaili said that "Iraq is suffering from lack of experience the issue of control, and implement the strategy for the eradication of corruption," adding that "Iraq needs to inspectors from the middle of the accounting and legal issue in the implementation of strategies to eradicate corruption in the country."

http://www.aknews.com/ar/aknews/2/165031/

Issuance of new regulations on trade in oil in the Kurdistan region of Iraq

Kurdistan Regional Government announced that it was issuing a new instruction on oil trade in the region.

Provincial government spokesman Mahmoud Kawa said that those instructions have been prepared under the supervision of the Prime Minister of the Territory and the Ministry of Finance and the Ministry of natural resources, refused to reveal fully satisfied the instructions at this time.

The President of the need to distinguish between the oil trade is legitimate under the laws of the federal government and those that are illegal.

The New York Times reported the U.S. had indicated in a report to the existence of the smuggling of oil from Kurdistan to Iran, prompting officials in the region to deny the newspaper report and considered the indictment an attempt to tarnish the image of the region.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-07-19

Originally Posted by Seaview

Campaign to shut down printing presses and offices of non-approved banking to reduce the counterfeiting of currency and documents in Iraq

Announced that the Office to Combat Economic Crime Unit of the Ministry of the Interior, on Saturday, close to begin a major campaign to close the printing presses and offices of the banking is not approved in all Iraqi provinces, except the provinces of the territory, with central bank said it was monitoring the work of banking offices approved only and are not illegal ones.

An official relations and media in the Office to Combat Economic Crime promised al-Asadi said in an interview for "Alsumaria News", "The Interior Ministry formed a committee to follow-up, inventory and census presses civil and banking offices, the closure of the informal, including", noting that "the Committee consisting of the Office to Combat Economic Crime Department Cultural Affairs, Ministry of Culture and the Office of the Anti-Money Laundering Group of the Central Bank."

The al-Asadi, "The campaign will begin next Tuesday, and will include Iraq's provinces except the Kurdistan region, and will be shut down is not permissible, including", noting that "was a warning to the owners of printing presses and offices were approved and granted a period of one month for special leave, and they have the deadline expired on 15 of July of this."

The Asadi that "there is a lot of presses printed and issued counterfeit currency, in addition to religious books that call for religious extremism, are also some of them forged identity cards and official documents, with you some of the banking offices of unauthorized transfer of illicit money abroad without the monitoring and follow-up to her".

For his part, said Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Salih in an interview with "Alsumaria News", that "the Iraqi Central Bank will supervise the offices of banking companies and foreign exchange, by giving them licenses to practice the profession in Iraq, but that some of these offices operate in the offices of non-official".

Saleh added that "There are some banking offices and companies of foreign-exchange function in unstable parts of a security or in the offices of double work, and thus would be far from the control of Central Bank of Iraq," noting that "the census and inventory of banking offices and companies, foreign exchange, accounting and closure of the assignee is approved the work of these offices will be organized under the laws of the central bank and controls and under his supervision."

The number of banking offices and remittance companies in Iraq at present about 370 companies, and paid up capital of 600 million dollars, and are entitled to open branches in all governorates of Iraq, working in accordance with the controls Central Bank of Iraq, some of these offices operate in grocery stores, fabrics and other informally.

http://translate.googleusercontent.c...P_3J4e6qjaifng

Combat economic crime starts a campaign to close the printing presses and non- banking offices approved

Preparing the Office to Combat Economic Crime in the Ministry of Interior to begin a broad campaign on Tuesday to close the printing presses, bureaux de change is approved in the provinces.

An official relations and media in combating economic crime promised al-Asadi said the campaign include all governorates except Kurdistan region of Iraq, adding that he was giving a warning to the owners of printing presses and offices were approved and granted one month for special leave, and they have the deadline on 15 of July, the current.

He explained that a lot of printing presses and issued counterfeit currency and counterfeit IDs and official documents, in addition to the books of religious extremism in some of the banking offices is not permissible to transfer illegal funds abroad without monitoring and follow-up.

http://www.radiodijla.com/cgi-bin/ne...?id=2010-07-18

The investment: the country in transition from centralized economy to a free

Chairman of National Commission for Investment Sami al-Araji in the seminar convened by the Council for National Reconstruction Iraq in the transition from centralized economy to a market economy.

Araji said "There's a lot of changes on the level of organizational and administrative environment for banks and the regulatory environment of the laws," he said, adding so we can keep up with the investment process and speed of developments in this area needs to be accelerated in the process of administrative and legislative reform of banks and insurance companies as a key element in the development process.

He noted that the reactivation of the work of the Single Window will contribute to reducing the suffering of the investors. The seminar was attended by Mayor Sabir al-Issawi, a number of ambassadors and businessmen.

http://translate.googleusercontent.c...-9_XYLrLSO8VhQ

Oil Police believe the protection of 95% of the oil fields

Said Director General of Police to protect oil installations Hamid Abdullah Ibrahim, from north to south, and the testimony of the Ministry of Oil in the rest depends on the security companies.

Ibrahim said to the reporter that the southern region, where there is no middle any smuggling Crude oil and black outside the country may occur through smuggling of quotas for cement plants And the bricks and the police are chasing the tanks that do not have evidentiary items Where it was seized more than 150 tanks. Dissenting opinion.


The The police have nothing to do oil smuggling operations that occur through Kurdistan to Iran, which are protected by the brave, Indicating that there was smuggling might get through the Kirkuk to Sulaymaniyah and said To have been installed Sitrat the police to control the oil so processes Smuggling.

http://translate.googleusercontent.c...hRwDc_HbQICJDw

Kuwait gives initial nod for oil border post - Iraq

Kuwait has given initial approval to open a special border crossing with neighbouring Iraq for international oil firms working there, an Iraqi oil official said on Monday.

"There is kind of initial approval from Kuwait's side," Abdul-Mahdy al-Ameedi, director of the Oil Ministry's licensing office, told Reuters on the sidelines of a meeting between oil executives and the Oil Ministry in Baghdad.

"This information we got from the contracting companies who said they talked with the Kuwaiti government, and that there is an initial approval to use the road that is close to Safwan and passes through Rumaila oilfield."

Several oilfields straddle the border between the two countries, including the Rumaila and Safwan fields.

The new border point would facilitate the inflow of equipment for oil companies that secured contracts to develop Iraq's oilfields, Ameedi said, adding that Iraq's Ministry of Foreign Affairs is also due to start official talks with Kuwait.

Iraq awarded a series of massive oilfield development contracts last year to majors such as Royal Dutch Shell and BP that could quadruple its output capacity to 12 million barrels per day within seven years.

As the projects get off the ground, inadequate dock space at Umm Qasr, the country's main port, bureaucratic impediments to securing visas, customs clearance, and corruption have become top complaints of oil executives.

In June, the head of state-run South Oil Co. said the proposal to open the special border post was being studied by Iraq's oil, finance and interior ministries but also needed the approval of the Kuwaiti government.

Relations with Kuwait remain frosty two decades after Saddam Hussein's invasion of Iraq's small neighbour.

http://www.londonstockexchange.com/e...entId=10577542

De La Rue plunges on note printing problems

De La Rue saw its shares plummet to the lowest level in three years after the bank note printer warned that poor quality paper would hit its profits.

The company, which manuafactures and prints bank notes, said production at its main plant in Hampshire had failed to meet “certain quality specifications."

The company declined to provide details of what was wrong with the paper, but said that production and shipment had been suspended while it conducted an investigation into the circumstances surrounding the faults.

The group added that sales and production levels would be “materially” lower than previously expected. Analysts had forecast group revenues of just under £600m for the year ending March 2011.

The paper printing business is one of two elements of the group’s core currency division and supplies bank note paper to central banks around the world, including the Central Bank of Iraq and the Bank of England.

De La Rue, which also makes cash counting and identity machines, has cemented a reputation for supplying high quality paper and is involved in the production of over 150 national currencies.

However, analysts on Tuesday warned that the news could damage the group’s reputation with banks and called on the management to offer more clarity over what had happened.

Describing the news as “shocking”, one analyst said: “Integrity of currency is not something you take risks with and this is frightening for the market."

JPMorgan, De La Rue’s house broker, meanwhile said it expected the company’s management to provide further insight into the scale of the problem, what could be done to fix it, and the likely impact on sales. The group has an AGM on Thursday.

“This seems likely to weigh on the shares until further clarity can be provided,” analysts at the broker said.

De La Rue announced a share buy-back earlier this yearfollowing the sale of its £78m stake in Camelot, the UK lottery operator. The group has enjoyed strong demand for its high-specification and high denomination bank notes, and saw sales rise 12 per cent during the year ended March.

http://www.ft.com/cms/s/0/420b628c-9...49a,s01=1.html

Iraq today between security and corruption

Classified the World Organization of transparency, and the fifth consecutive year, Iraq as part of the three countries most corrupt among the nearly 180 countries, while the development of Institute of Economics and World Peace, based in Sydney, Australia, Iraq, at the bottom of the list as the most dangerous spot on earth and most volatile.

In today's Iraq, it seems quite a lack of security, the main reason for the deaths of Iraqi civilians is the number of sectarian killings, not bombings and attacks that are prominent in the media, as the death squads roam the streets in search of a civilian looting or kill them. Add to this brutal sectarian cleansing, and the subsequent retaliatory acts of violence. Many of the sectarian killings preceded by torture, in an attempt to evacuate people from their homes in the neighborhoods are computed on a particular group in the hope of spreading terror in the hearts. According to the security reports that in the period from 20 March 2003 to March 19, 2008, killed 91 thousand and 358 Iraqis, without specifying the methods used to kill some people. The government, not doing their job with the application of human rights standards and to take more steps towards the implementation of the rule of law, to stop the displacement and return of displaced persons to their country where they lived. It is true that part of the displaced have returned to Iraq, but the total number of returnees reached 340 thousand, out of more than three and a half million displaced. In the matter of corruption, the reports indicate that corruption in Iraq is deteriorating unreasonably.

The reports revealed that the losses of Iraq since the war in 2003, as a result of administrative and financial corruption, amounted to 250 billion dollars. And considered the Secretariat of the Council of Ministers "outpost of serious corruption." It was reported that Iraq has lost over the past seven years, 45 billion dollars from the smuggling of crude oil, which is controlled by sectarian parties in the south, and pointed out that the last five years did not witness the construction of a single refinery, despite the tempting offers made by international companies to create such projects with durations ranging from Year and six months.

http://www.almowatennews.com/news_view_6275.html

Ministry of Planning: the National Development Plan step to revive the Iraqi economy and development

The Minister of Planning and Development Cooperation , Dr Ali Ghalib Baban said that recent experience of the past in Iraq has proved the annual budget deficits of the investment allocations to improve the economy and putting it on the path of development and growth.

Budgets approved at the time of the year and late release of funds is then extinguished an important portion of the year without being able to charge either a minister or a governor to take any decision on the project delivery and repeated every year.

He added, And for this the Ministry initiated the proposal to adopt plans that extend for more than a year, and the preparation of five-year plan for the period from 2010-2014, and has adopted the Council of Ministers of this initiative in support of turning it into government decision - worked him and the Ministry of Planning in all organs and experts actively push to become a real achievement, and Here This plan, which represents an integrated project and guide the work of the state and society in order to build the Iraqi economy.

It also can not be considered to the plan in the context of what has been achieved development plans in the previous period in Iraq. They are different from those accepted in a clear and can be considered pursuant to a qualitatively advanced used by all methods and modern methodologies in the science of planning and related practices, we have had previous plans based on the whole inclusion of projects and distribution of economic sectors, ecology, while the plan was based on an understanding and accurate interpretation of the reality of And a serious attempt to explore the future orientations and study during the period from 2010 to 2014.

He said for the first time to leave the adopted new economic philosophy of the state and market-based implications of this plan through the provision of appropriate space for each of the private sector and foreign investment. Some see the development of a comprehensive development plan for Iraq for the next five years a form of risk under the current circumstances and rages in Iraq changes and instability, and takes her conditions of political and economic developments, and in fact, this plan tried to absorb all this and prepare what is available Methodologies for modern planning, as the development of this plan is a necessary first step and there are challenges for the future must be faced in order to have this plan to fruition, especially when there was a degree of political stability we urgently need him to be overcome government bureaucracy, especially in decision-making level as it was important Important to besiege and reduce the impact of corruption in order to proceed with the process of building the economy on track and as soon as required and that the new government to deal with this plan and to overcome these challenges is what will the success of this plan.

For his part, Minister of Trade and agency Safa net debt to the national development plan come to meet the needs of different sectors after the diagnosis of a number of past cases accumulated and has developed an integrated vision for how to promote these sectors, according to the state's potential available, hence, diversification of revenue but not limited to revenues The oil sector in the development process and further encourage and support private sector participation in the economic process and to increase agricultural and industrial sectors, and the consequent increase in polarization of manpower, reliance on development projects and not only the projects the consumer in order to accelerate the process of sustainable development and create an economy multi-resource. The Undersecretary of the Ministry of Planning for Technical Affairs Dr Sami when Paul has said the plan has allocated substantial financial resources limits of 186 billion dollars for the next five years through the implementation of 2700 project will contribute to the transfer of Iraqi economy to advanced levels in all areas and achieve the goals of major development.

He said when the plan was focused on the development of all sectors are now the most important point will be to develop the oil sector and electricity, especially in building and construction of oil installations and power stations to generate electricity, which also will bring a qualitative leap in the Iraqi economy and services and infrastructure Alaratkarip through the growth of total estimated 9%, Which will contribute to the diversification of economic resources and to accept dependence on the oil sector, as well as promoting domestic production and reduce the risk of global economic crises and their impacts on the national economy, especially those that occur in world oil markets from time to time.

http://www.alsabaah.com/paper.php?so...age&sid=105972

Do you experience will contribute to the structuring of foreign banks in Iraq?

The statement made by Dr. Shabibi central bank governor, on the structure of a vacation of seven international banks to operate in the country with the local banks, raised an atmosphere of optimism among those in economic affairs.

On the grounds that the development and revitalization of the banking sector, the necessary supplies for the investment climates and considering that most previous attempts by the relevant authorities the banking sector to develop this sector, was not written to the results appearing on the ground, and remained as a whole in the process of furnishing the reality of banking future, it is Expected to speed the entry of these banks to the banking market Iraqi activate furnished him towards the automation of banking operations entirely and leave the stages of the banking business manual, which is still mechanisms to dominate the vocabulary of daily dealings, despite the efforts made by the efforts of relevant agencies represented by the Central Bank and Ministry of Finance and Behind financial institutions, the globalized world (Who alternates) - International Monetary Fund and World Bank - the restructuring of local banks in the forefront of government banks has been slow to leave the process of incorporation. On the financial side remained capital across banks ranging from 50 to 350 billion dinars, and some State-owned banks Still its capital does not exceed a few million dinars ..

On the technical side, widened attempts to introduce technology horizontally and over the past years Vcmmelt draft smart card for some of the government banks and the draft rules of comprehensive banking, Bank of Iraq, which is implemented by the company (B Blain) British since the end of last year, but the project remained idle till now, the promise of Draft payment system Iraqi IP, who oversaw the bank's implementation across the bank is ready to work, but the instruments electronics did not reach Walid public remained handling instruments, traditional and house hand despite the direct labor regulations associated with the clearing system, electronic system such as Altqasi electronic payments and low value of ACH and the remittance system total China's large-value RTGS payments of the delay next to keep the traditional banking cadres trained in the management of banking activities that hinder the implementation of these programs (for fear of being without it .. ), according to a press statement to Mr. General Manager, Bank of Iraq ..

Contributed to the non- banking sector to the application of regulations and standards of the Basel 2 and the continued lack of eligibility to participate in the investment climate next to the contribution made by the security conditions and therefore the arrival of foreign banks to work in the banking arena Iraqi push for accelerated implementation of vocabulary restructuring in order to create a situation of parity for work With these banks coming from across the border.

http://www.alsabaah.com/paper.php?so...age&sid=105970