Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Central Bank: Iraq's financial management system is backward in comparison with those of foreign

The Central Bank of Iraq, Sunday, that the system of financial management Iraqi backward in comparison with those in the Arab and foreign countries, indicating that the process of building a system of sophisticated financial need a long time to improve the reality of the work of financial management.

The bank adviser said the appearance of Mohammed Saleh told the Kurdish news agency (Rn), "The financial management system in Iraq suffers from a legacy of great need of major reform to remove the legacy of an open economy he inherited Iraq because of the policies of the former regime."

Saleh pointed out that "the process of building the infrastructure requires a long time to have the economic climate for the establishment of a sophisticated financial management system for Iraq compared to countries of the region."

Saleh added that "the Finance Ministry has worked to develop a system of accounts, cash management, and the system of payments, exchange and management of the budget in the last period."

The Iraqi Ministry of Finance has received financial grants in 2010 from the Iraq Trust Fund administered by the World Bank to finance the development of public financial management (PFM).

The project to develop public financial management (PFM) includes four themes is to promote and develop the budget management through the development of methods of preparation and evaluation of investment projects and enhancing the possibility of the Economic Department, and strengthening systems of government contracting and preparation of tender documents standard and the preparation of information systems and follow-up of contracts-governmental organizations and strengthen the capacity of government institutions and non-governmental actors in the implementation of public contracts.

The draft refers to the possibility of strengthening the implementation of the budget through the assistance of the Ministry of Finance to provide monetary system developed and evaluation system safes multi-addition to the establishment of information network internal to the sections of the Ministry of Finance and assessment of financial control system and the role of the Inspector General, along with developing the capabilities of the cadres of the Iraqi Finance Ministry in line with development in economic transactions in the world.

http://www.aknews.com/ar/aknews/2/210837/

Linking banks Kurdistan Baghdad

Looking forward to the Director-General of the Bank of Irbil, the Director-General of the Bank of Sulaymaniyah unification of the law to bind their banks the Central Bank of Iraq.

The director of the Central Bank of the Territory Adam cream in a press statement that, in the framework of unification of Central Banks in Sulaymaniyah and Erbil under the authority of the Ministry of Finance, the Central Bank operates the region linked to the Central Bank in Baghdad, according to the law.

The cream that the number of private banks in the region and reached so far to 65 banks and government banks to 60 bank.

http://radionawa.com/ar/NewsDetailN....429&LinkID=155

Minister of Oil: The participation of international oil companies in the licensing round, the fourth largest of its predecessors

Oil Minister Abdul-Karim Laibi that the stability of the security situation and the formation of the new government greatly contributed in attracting large investment companies that are looking to enter the Iraqi market.

He said the coffee in a statement to the reporter, expecting that the participation of international oil companies in the licensing round, the fourth most important and bigger than its predecessors.

He stressed that the stability of the security situation and the formation of the new government greatly contributed to attracting large investment companies that are looking to enter the Iraqi market, and that the next round of licensing will include private contracts to explore new oil reservoirs to enhance oil reserves.

It is clear that the contracts that were put in the third round of licensing for the development of gas fields waiting for the signature. Iraq had begun a new phase of oil policy in the past year was characterized by openness to foreign investment in oil and gas fields.

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Biden pledges to continue to protect the security of Barzani's Kurdistan

Focused talks U.S. Vice President Joseph Biden, in Arbil, with the President of the Kurdistan region Massoud Barzani on the ongoing political progress in Iraq, and to provide assurances to the Kurds continued U.S. protection of Iraqi Kurdistan in spite of Washington's resolve to withdraw its troops late this year.

According to a Kurdish source said, "Barzani discussed in the resort of Salah al-Din with Biden strengthen relations between the Kurdistan region and the United States," noting that "Biden reiterated his country's commitment to protect the security of Kurdistan."

For his part, Barzani praised the U.S. commitment to protect the security of the Kurdistan region, stressing that he would do his utmost for the success of the issue of forming a government of national partnership.

Biden was arrived the day before yesterday Irbil from Baghdad after holding talks with Iraqi leaders.

http://almowatennews.com/news.php?action=view&id=14617

Talabani to leave the day after the Sharm el-Sheikh to attend the Arab Economic Summit

The President of the Office of the Presidency of the Republic of Iraq, Sunday, that President Jalal Talabani will leave the country next Tuesday on his way to Egypt to represent Iraq in the Arab Economic Summit to be held in 19 of the current month.

He said Naseer al-Ani in Kurdistan News Agency (Rn), said that "President Jalal Talabani will leave next Tuesday to Egypt to represent Iraq in the Arab Economic Summit to be held next Wednesday in Sharm El-Sheikh, Egypt Arab."

He added that al-Ani, "Talabani will emphasize during the Arab summit on the necessity of activating the economic role of the Arab in Iraq, especially with the improved security situation", noting that "Iraq hopes to witness the next stage open economically significant for the Arab States in the implementation of investment projects and ages."

The Secretary-General of the League of Arab States Amr Moussa said in a statement to reporters earlier that the Arab Economic Summit II scheduled to be held in Sharm el-Sheikh during the current month will work on a comprehensive review of the implementation of the Arab States of the decisions of the Arab Economic Summit and the first social held in Kuwait in January January 2009.

The Iraqi government confirmed earlier that it will demand in the Arab Economic Summit to support the Arab countries on the subject of Iraq to restore its membership in the World Trade Organization.

http://www.aknews.com/ar/aknews/4/210898/

About 190 oil wells dug in Iraq in 2010 and 140 others to be dug in 2011

Iraq's state-owned Iraqi Digging Company has announced on Sunday that it had managed to dig 189 oil wells in 2010 and planning to dig and rehabilitate 140 other oil wells in 2011, according to a statement by its director.

"Our Company had dug 56 oil wells and rehabilitated 133 others in 2010," Idris Muhsin al-Yassery told a news conference at the headquarters of his Company in Basra, adding that the number of oil wells dug in southern Iraq's Rumeila Oil Field, that helped increase in production, have been 14 wells, along with the rehabilitation of 91 other oil wells.

He said that the number of oil wells, dug and rehabilitated in Basra, Missan, Baghdad and Kirkuk Provinces had reached 53 wells, including 39 dug and 14 rehabilitated.

"We have bought 22 digging towers that entered in service and the others pending use, as well as the purchase of two rehabilitation devices, along with three other towers to be bought later, due to the Company's plans to dig more oil wells in the near future," Yasiri stressed.

He said his Company's 2011 plan covers the digging of 140 oil wells, including 76 to be used by the local companies, whilst 58 foreign investment companies that had won the licensing sessions and 4 oil wells dug in Nahr-Omer and Wesern Qurna, as well as two other wells excavated for future commissioning.

"There are another 23 oil wells, being excavated by a leading contractor, along with international service companies, as sub-contractors for the International INAI, Axcel, Lock-Oil Companies, as well as 15 wells being dug through cooperation with Halliburton Company in southern Iraq's Majnoun Oil Field," Yassiri said.

Notworthy is that the Iraqi Digging Company had been established in 1991 and had dug 1,874 oil wells since its establishment, according to its Director Hassiry.

http://en.aswataliraq.info/Default1....&id=140565&l=1

Kurdistan Region Presidency denies news of the upcoming visit of Barzani to Baghdad

the chief of Office of the Presidency Kurdistan region on Sunday, and there is no program to visit the region's president Massoud Barzani to Baghdad at the present time, in response to the news published by (Rn) yesterday to the effect that Barzani intends to visit anticipated to Baghdad to discuss a number of outstanding issues between Erbil and Baghdad.

According to Fuad Hussein of the Kurdistan News Agency (Rn) announced today it was "not in the work program of President Barzani's visit to Baghdad at the present time."

The statement Hussein, in response to the news reported (Rn) of the Vice-President of the Iraqi Council of Representatives Aref Tayfur as saying that "President Barzani to visit prospective plans to Baghdad during the next few days to discuss a number of outstanding issues between Baghdad and Erbil."

Hussein added that "if need be, the Barzani is ready at any time for a visit to Baghdad, but I repeat that the work program of the region's president does not include a planned visit to Baghdad in time coming, and that the news which surfaced in the media about his intention visit Baghdad soon, is not unfounded."

It is worth mentioning that a delegation from the Kurdistan Regional Government headed by Barham Salih, arrived in Baghdad on an official visit, said Director of the Office of the President of the provincial government Twana Ahmed's (Rn) that "it was due to meet members of the Kurdish delegation Prime Minister Nouri al-Maliki to discuss a number of important issues the relationship between Erbil and Baghdad."

"The Kurdish delegation consisting of Minister of Natural Resources drastically, and Health Minister Tahir Hawrami and a number of other ministers, is scheduled to hold a series of meetings with officials from Baghdad to discuss a number of issues of mutual concern."

http://www.aknews.com/ar/aknews/4/210859/

Maliki rejects U.S. proposal to extend the stay of its troops in Iraq after 2011

A member of the National Alliance Saad, logistical, that the Iraqi government rejected a U.S. proposal to extend the stay of its troops in Iraq after 2011.

And logistical said in a press statement that the Vice President Joe Biden, during his recent visit suggested that the survival of U.S. forces in Iraq after 2011, noting that Prime Minister Nuri al-Maliki rejected the proposal altogether.

He explained that all the logistical indicators and data indicate the ability of Iraqis to take charge of their own security, and no need for the extension of U.S. troops to stay in the country.

http://radionawa.com/ar/NewsDetailN....453&LinkID=151

Parliament ends the first reading of the federal budget for 2011

A parliamentary source said that the House ended the first reading of the federal budget during the meeting Sunday.

He said Almsdrllokalp by news Sunday that ended the House of Representatives at its first reading of the federal budget for 2011, explaining that the second reading will be two days later.

The sources said the process of approving the budget will be after completion of the holiday visit of forty.

http://radionawa.com/ar/NewsDetailN....475&LinkID=151

BSA holds a workshop on the contracts of foreign oil companies

Established Office of Financial Supervision and coordination with the Ministry of Oil and workshop on the theme (of service contracts to develop oil fields) regarding the contract and the oil ministry with international oil companies long-term contracts to develop oil fields in the country and under the auspices of the President of the Board of Supreme Audit Acting Professor Abdul Hadi Hamid Farhan al.

A source in the bureau said in a statement received by the independent press (Iba) a copy of which took place during the workshop to discuss mechanisms of action agreed upon between the Iraqi oil company and the parties executed study of the legal status of foreign companies executing service contracts as well as a mechanism for data validation.

http://www.ipairaq.com/index.php?nam...onomy&id=34652