A member of the Economic Committee: on the central bank set a new price of the Iraqi dinar against the dollar

  07-07-2013

 

Baghdad (news) .. Student member of the parliamentary Economic Committee MP / Kurdistan Alliance / Khalil Mahma, the central bank set a new price of the Iraqi dinar against the dollar coin, and that there be a real rate of the dinar.

Khalil said in a statement (of the Agency news): The political maintaining the currency and dinar Iraqi functions of the central bank, and the signals that we observe globally and economically, that there is a future for dinars, adding: may not be the exchange rate of dinar against the dollar per (1300) or ( 1200) Iraqi dinars, because this price is when the balance was $ 10 billion, and today the balance of sovereign Iraq (76) billion dollars.

He continued: political Central Bank to keep the bank is not correct, call the bank that there will be forces of Iraqi dinars, because what exists of the dinar, however, citizens of the Iraqi equivalent of the real price in the market, calling for the bank to invest the power of the dinar after the withdrawal of Iraq from Chapter VII, and today the central bank binding that there will be a new price against the dollar.

He pointed out that, because every dollar Aldaat entering Iraq, but there must be a real rate of the Iraqi dinar, because the strength of JD robust and powerful sovereign in terms of its position and strong economic as well as that of the Iraqi citizen suffers from vulnerability of Iraqi Aldnyar to the dollar.

It is noteworthy that, the Iraqi dinar less than its value once in a while, towards the dollar, for many reasons, including the blame Central Bank in this ascent, and others point out that the situation in Iraq and the region behind the rise of the dollar, as well as smuggling. / End / 8.'s. M /

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Governor of the Central for "obelisk": We have stocks of gold's largest foreign currency

03/07/2013

BAGHDAD / obelisk: Detect Iraqi Central Bank Governor / Agency Abdul Basit Turki, Wednesday, that the stock of Iraq's largest gold from the tally of foreign currency, confirming the assignment set of files of corruption at the central bank to the judiciary, adding that the exit from Chapter VII will allow us greater flexibility discretion, noting that the project raise zeros from the currency has been postponed for the time being.

Said Turki in an exclusive interview with "Obelisk" of Karbala that "Iraq has stocks of gold is greater than the tally of foreign currency and gold reserves of Iraq is managed by the central bank and deposited at the Bank for International Settlements as an agent of the Central Bank," noting that "Iraq is the owner of the treasury now, even before getting out of Chapter VII and the gold before a proportion of 10% of stockpiling reserves of the components of the Central Bank and Reserve President consists of foreign currency and is used to determine the exchange rate of foreign currency احتياطنا until last May $ 76 billion of hard currency. "

"Referred to a set of files of corruption at the central bank to eliminate was indicted for some officials for corruption some verdicts have been issued in the first case, as has been bringing in some of the issues managers of private banks to investigate."

Turki denied "the existence of frozen funds outside the control of the Iraqi administration," stressing that "the frozen funds being diverted down according to the UN resolution both before and out of Chapter VII or beyond to the fund managed by the Central Bank of Iraq."

The Turkish that "out of Chapter VII will allow us the freedom to act greater flexibility in addition to creating a general atmosphere to attract foreign investment," adding that "the great importance is the completion of Iraq's sovereignty because Quana under the provisions of Chapter VII offered for the intervention of international forces in some of the decisions on Iraq , "and that" the withdrawal of Iraq from Chapter VII-VI means the problems could be solved bilaterally with countries without international intervention and this is an important step on the level of Iraq. "

He revealed that "the financial statements did not send to the Central Bank in spite of our demand so we asked for statements until 30/6 did we receive until now."

He said that "the relationship between the value of the currency and issued on the basis of the existence of the gold content disappeared since 1971 and thus value of the currency depends on two foundations of the strength of the economy and the ability to maneuver through the presence of foreign currencies can be pumped in the market."

And that "Iraq's budget going to rise," expressing his confidence in "through my follow up of the accounts of the Ministry of Finance stocks, roundish and unexpected revenue sufficient for the implementation of the budget, even if 100% exhausted."

And money laundering, said Turki that "been sentenced two of the defendants laundered the money and there are still four people accused of directly we have begun to audit the transactions since we receive the task of the central bank and returned to the transactions ancient that we believe the existence of problematic where we have discovered the existence of Notes basic Fastqdinma managers commissioners and officials banks and Naakecnahm in these observations and احلنا to eliminate from not convinced Bhjajhm ".

Turkish revealed "to postpone the project raise zeros from the currency and the value of the Iraqi dinar toward climb to more power because we passed the bottleneck."

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Maliki: Iraq's highest growth rate among all the gas-producing countries had annual growth of up to a minimum of 10%

07.02.2013

 MOSCOW (Iba) ... Prime Minister Nuri al-Maliki said the International Atomic Energy Agency predicts an annual growth of gas production in Iraq has up to 10% minimum is considered the highest growth rate among all the gas-producing countries, noting that energy-mentioned gas production outweigh the need for domestic use .

Maliki said in a speech at the Second Summit of the gas exporting countries held in Russia: that Iraq was identified as a producer and exporter of crude oil since eighty years in the capital, Baghdad, was born in 1960, the Organization of producing and exporting countries (OPEC) did not occupy gas in Iraq an important position like that occupied by gas oil, although that may be known in Mesopotamia nearly four thousand years when أتقدت the flame of natural gas in the Baba Karkar within the city of Kirkuk, became known as the eternal fire.

He added: international oil companies in Iraq did not give the former any interesting little gas so it was most of the gas associated with oil burn waste, in addition to the non-targeting gas exploration but discovery was invader is a loss so exercised telecom companies of the closure of wells which discovered gas, There was no significant change in gas investment only after the nationalization of oil in Iraq, where carried out large-scale projects to invest in gas led to the reduction of heartburn, and managed to Iraq to release gas to the State of Kuwait for several years during the eighties of the last century, but that those projects have not experienced expansions planned because of the policies of wars that have thrown Iraq and the subsequent siege which led to the continuation of gas flaring in large quantities at a time when much needed both to generate electricity or in industrial projects.

And between Maliki: that installed gas reserves in Iraq amounted to 112 trillion standard cubic feet equivalent to 3.4 trillion cubic meters, ranking second century in the world, before entering into the development of the oil and gas sector in 2009.

He continued: that the government of the Republic of Iraq began the implementation of a broad program and an ambition to develop the oil and gas sector in Iraq and opened the doors of cooperation with major international companies and we have taken all measures to stop gas flaring to maximize the benefit from it. Has resulted from the implementation of the program during the biennium (2011-2012) a significant increase in proven oil reserves of more than 150 billion barrels of oil, accompanied by a significant increase in gas reserves due to exploration and development in the whole of Iraq led to the doubling of the previous reserve.

He added: Now that the spare Iraq a long way on the road to building a democratic system and the rule of law, he is paying increasing attention to the development of the economy and diversify sources and improve the working environment and stimulate investment and that within the requirements of the implementation of economic reform programs, legislative and public sector modernization. And falls in this context, attention to strategic planning where the Government of Iraq has launched days before the integrated national strategy for energy and that gave great attention to the oil-like gas and the rest of sub-sectors.

Maliki said: The main strategic directions of the Government of the Republic of Iraq in the gas sector are as follows: -

1. Expand gas reserves in Iraq in general and free gas, especially through the exploration of areas with possibilities promising, has launched this year's licensing round fifth target gas exploration in different parts of Iraq, according to the conditions and arrangements conducive to investors to enable them to development of direct discoveries of commercial, According to the latest studies to the possibility of

Double the current gas reserves because, as it contains probable reserves estimated at 170 trillion standard cubic feet.

2. Will result in the development of the production capacity of crude oil according to the scenario medium and favorite of (9.0) million b / d production capacity of associated gas ranging between 6-7 million standard cubic feet per day as forecasts of international institutions كالوكالة International Atomic Energy annual growth of gas production in Iraq up to a minimum of 10% which is the highest growth rate among all the gas-producing countries. The energy-mentioned gas production outweigh the need for domestic use and there is the commitment of the State to invest gas associated with the product through the construction of infrastructure and institutional capacity necessary for the collection and processing of gas and separated and transferred to the consumption centers was initiated already implementing this commitment, it is planned to be completed gas processing facilities in 2015 and it will be available processing power than energy production and shrink very much flaring.

3. Development and investment of free gas fields discovered previously Card 820 million standard cubic feet where contracts have been signed with three companies / coalitions global.

4. Meet the local needs of both gas and fuel to produce electricity and run factories or nutritious materials for petrochemical and fertilizer industry.

5. Serious thought launched a project to export gas or more neighboring countries or even Europe piped whether or in the form of liquefied gas from the port of praises in the Gulf south of Basra. The vigorous action to implement the pipeline to export gas pipeline with export-oriented across the Hashemite Kingdom of Jordan and we expect investors to refer the project to the end of this year.

6. Export gaseous fluids that ستفيض large quantities of the need for the local market.

He said al-Maliki: that based on the foregoing, the priority of energy policy in Iraq is a concern with gas being a national treasure and fuel clean, environmentally friendly and a source increasingly important role in the generation of electricity and the establishment of industries strategy for Iraq Kalptrrukemaoyat and fertilizers in addition to providing added value through export to world markets.

He added: The development of energy sources and oil and gas Tsnaahma and Tsidiarhama as raw materials or in the form of oil and gas products will enhance the prestige of Iraq and make it a major player in the global energy markets.

He pointed out: The vision of the Republic of Iraq match and see the Forum of Gas Exporting Countries We share with you our appreciation to the growing importance of gas and hold the same desire to participate to ensure supplies and stabilize the markets of the world as to give increasing attention to environmental initiatives and scientific and technological progress and exchange of experiences between countries. (End)

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A joint committee to browning Training Center Act monetary and banking

06/30/2013





The parliamentary Finance Committee raised the level of coordination with the Economic Commission for the completion of parliamentary bill Training Center monetary and banking.

And a member of the Finance Committee said Magda Tamimi's (IMN) that "economic joint committee with the parliamentary process to provide a final report on the draft law center monetary and banking training next week."

She added that "the draft law project provides for the replacement of Banking Studies Center training center monetary and banking in the Central Bank of Iraq to develop technical and practical treatments for fiscal and monetary policy."

And that "the Centre will be watching the decline and rise in the exchange rate of the Iraqi dinar and the nature of economic laws as well as the development of staff expertise in the banking sector."

And completed the Higher Committee overseeing the restructuring of State-owned banks in April / May last economic and technical studies necessary for the implementation of political restructuring.

Economists believe that re ھیكلة the Rafidain and Rasheed conditional on the legislative reform process for the banks, which is commensurate with the aspirations of the banking business in Iraq.

And holds the government banks 90% of the banking operations.

The restructuring plan includes four axes banks, is Restructuring Cgalah and strategic re-evaluation of assets and re-banks and accounts audited by an external auditor.

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Economists: out of Iraq from Chapter VII will bring foreign investment and is the country's frozen funds

30-06-2013

Baghdad (news) / report / Hussein Faleh / .. After the vote the UN Security Council voted unanimously to exit Iraq from Chapter VII, which imposed a year ago (1990), especially after Iraq's occupation of Kuwait, which provided for the adoption of economic sanctions stranglehold on the country, Iraq has sovereignty full national and liberation of all economic restrictions, which has become a stumbling block before the advent of international companies to invest in the country.

The confirmed number of deputies and economic experts that Iraq would emerge from the provisions of Chapter VII internationalist bring international companies sober-owned and developed countries to Iraq for the purpose of work and investment, which has been facing many difficulties prevent them from coming into the country by the UN resolution.

They explained their talk (of the Agency news) to remove Iraq from Chapter VII of money refunded frozen Iraqi funds in foreign banks, as well as in the Development Fund for Iraq to the country, gives him the freedom to dispose of them.

A member of the Finance Committee and the Secretary-General of the People's Movement Attorney Ali Alsjeri, stressed: that Iraq would emerge from the provisions of Chapter VII of the Charter of the United Nations will have significant economic benefits for the country.

And said Alsjeri (of the Agency news): This item behind the great economic damage, where pay international companies in various fields of work away from Iraq after being largely financial system and the impact on Iraq's sovereignty in general.

He added: remove Iraq from Chapter VII to VI سينقله the Rehab development by allowing the world's largest construction companies for reconstruction and therefore Iraq will return to the international community incubator after a break that lasted more than 23 years.

He pointed out: that the positive effects of which will be reflected directly on the State-owned banks that were forced to resort to secondary agents in order to sustain its foreign relations, which would have cost extra money and expressed the hope that this will contribute to the achievement of developmental renaissance in Iraq.

The Iraqi government announced that Iraq would emerge from Chapter VII of the Charter of the United Nations represents the last external obstacle in front of him to regain full sovereignty remains to deal with internal challenges.

It is noteworthy that Iraq would emerge from Chapter VII would make him able to manage his money without international trusteeship would also allow him to return to normal in the international community in terms of processing, especially health equipment and manufacturing, especially military weapons, light, medium and heavy-duty, except banned internationally.

For his part, said the decision of the Commission on the economy and investment MP / coalition of Kurdish blocs / Khalil Mahma, that the end of the provisions of Chapter VII, will enable Iraq to recover its funds frozen, and end the tax paid by the people, by the practices of the former regime.
He said (of the Agency news): that Iraq has met all its obligations towards Kuwait, which makes it imperative for the international community to fulfill its obligations towards Iraq and the lifting of prosecutions on frozen Iraqi funds abroad.

He added: The people and the Iraqi government has tolerated a lot in order to remove Iraq from Chapter VII and the time now, conveniently out of this limitation, which hurt many citizens, stressing that Iraq would emerge from this decision will prompt global companies owned by the developed countries to come to Iraq for the purpose of investment.

As an economist Adnan al-Kanani, said: that out of the provisions of Chapter VII requires urgent pause on the financial sector, particularly the banking sector, which will be faster beneficiaries from entering the global financial market and wider doors.
He said (of the Agency news) to: the importance of exploiting the opportunity and develop sector Bashklah the government and private sectors through partnerships and the formation of relationships with leading global banks known.

He added: it was time for the banks to develop their systems and electronic instructions and method of work and foremost a way of thinking and management as well as the expansion of its branch network both inside and outside Iraq, especially in the countries that we have with the trade as strong as Turkey, China, Saudi Arabia, South Korea, Iran, Russia and others, where does not have Iraqi banks there E., with no legal barriers, nor political, nor economic sanctions after today prevent us from communicating with the world.

Since the nineties groaning Iraq under the weight of sanctions, since the international embargo that resulted from the United Nations Resolution 661, which was issued on August 6, 1990 due to the Iraqi invasion of Kuwait, and provided for the adoption of economic sanctions stranglehold on Iraq to force his time on the immediate withdrawal from Kuwait. This decision was followed by almost ten successive resolutions, warning him of the consequences of his stay in Kuwait and the defiance of the international community.

And suffered Iraqis two of these sanctions, which deprived them of food and medicine, as well as all means of progress and technology that reached the world in the era of the nineties of the last century, which led to the deaths of a million and a half million children as a result of hunger and lack of medicine acute and their lack of the most basic means of life.

This siege lasted nearly 13 years where practically ended with the fall of the Baath regime in 2003, Iraq had suffered from severe isolation from most countries in the world politically, diplomatically and economically, but Iraq remained suffers from the effects of hindsight under Chapter VII of the Charter internationalist. And compared to the suffering of the Iraqi sanctions made Saddam Hussein, one of the richest ten richest in the world. / End / 8 /

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Expert: Agreement "NASDAQ" World Stock Exchange will contribute to the development of the stock market work

30-06-2013

Baghdad (news) .. Said Ismail Radi economist, said the agreement concluded by the Iraqi market for securities with the global institution NASDAQ stock exchange will contribute to the development of his work in the system business dealings.

Radi said (of the Agency news): The Iraqi market for securities in urgent need for the development of his work through the use of modern Technology systems, must be contracted with discreet international institutions specialized in the development of the work of international stock markets.

He added: that the initiative of the Iraqi market for securities Finance Ptaakedh with the NASDAQ Global Foundation will contribute significantly to the development of the work of the Iraqi Stock Exchange of current systems with another make them a platform for business transactions fast and sophisticated at the global level.

This institution has signed NASDAQ Global Market, on Saturday, an agreement with the Iraqi market for securities to develop the system work in business dealings.

The technology NASDAQ X-Stream currently used in more than 25 stock market in the world. / End / 8.'s. M /

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GCC welcomes the exit of Iraq from Chapter VII

 30, 2013

Welcomed the Gulf Cooperation Council (GCC) the exit of Iraq from Chapter VII.

The UN Security Council voted last Thursday to exit Iraq majority of international sanctions imposed on it under the provisions of Chapter VII, because of the former regime's invasion of Kuwait in 1990.

According to a statement for the meeting of the Gulf Cooperation Council after held yesterday in the Bahraini capital Manama that "the Council welcomed the Security Council resolution No. 2107/2013 unanimous referral of prisoners and missing persons and the return of Kuwaiti property to the United Nations Mission to help Iraq [UNAMI] under Chapter VI, instead of Chapter VII of the Charter of the United Nations, to follow up on this file. "

He said the "fruit of the positive development of relations between Kuwait and Iraq and mutual visits between officials of the two countries and on these visits resulted in the signing of important agreements of the parties, on some bilateral issues and international obligations."

The Council stressed "support this decision and that the issue of prisoners and missing persons and the return of Kuwaiti property matters of a purely humanitarian nature, and looks forward to the Iraqi government to continue its efforts in cooperation with the State of Kuwait and the international community." Is over.

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