Economic Analyst Ihdhirmn the emergence of the phenomenon of fraud and money laundering coinciding with the implementation of the project to delete

07 Feb 2012

Baghdad (news) .. warned economic analyst Abdul Latif Salem Ugaili emergence of the phenomenon of fraud and money laundering coinciding with the implementation of the project to delete three zeros from the Iraqi currency.
Ugaili said (of the Agency news) on Tuesday: A lot of people in conflict with the law now waiting for the implementation of the project to delete three zeros from the Iraqi currency in order to carry out rigging for the new Iraqi currency and money laundering operations.
And Ocharaly: the high price of the Iraqi dinar depends on the strength of the economy and diversity of diversity through the annual state revenues and activate all sectors of the economy rather than a unilateral Rieia economy dependent on oil the first place.
He added that the project to delete the three zeroes from the Iraqi currency does not lead to high Asardinar of Iraq and the national economy, but it just reduces the money supply in the market, noting that proper procedure by the central bank to facilitate the trading process and the provision of currencies with a few categories.
He explained: that the project would cost the state large sums of money and expensive through the process of printing currency and instruct citizens on how to use and handle than it is to project a positive or negative impact on the Iraqi economy.
He advised Ugaili: monetary policy to work to raise the price of the Iraqi dinar exchangers through the restructuring of economic sectors and the diversity of its infrastructure in order to strengthen the national economy and then the currency.
The CBI had earlier announced that the draft deleted three zeros from the currency exists in spite of the criticism directed at him by the officials and the two economies, and will be implemented after two years from now. / Finished / 8. D. Q /

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ECONOMY: Central Bank of Iraq closes its weekly acution with selling US$68 millions

2/9/2012

BAGHDAD / Aswat al-Iraq: The sales of the Central Bank of Iraq (CBI), in its auctions

for selling and buying foreign currencies had raised in the closing of its weekly auctions

on Thursday with selling US$68 millions, compared with 15 million dollars in its previous

session, and on an exchange rate of 1,166 Iraqi dinars per dollar, according to the CBI's daily bulletin.

The bulletin, copy of which was received by Aswat al-Iraq news agency, pointed out that the total size of the dollar sales has reached 68 millions and 33,000 dollars, covered by the CBI

on an exchange rate of 1,166 dinars per dollar, adding that today's sales are considered much higher than the previous session that recorded 15 millions and 363,000 US dollars only.

The CBI's dollar sales had decreased during the past 2 sessions of last week to reach 4 millions and 321,000 dollars and 3 millions and 250,000 dollars, successively, whilst the previous session's sales had reached 199 million dollars, which was a figure close to the Bank's average sales since the beginning of the current year, following the impact of the Syrian events on Iraq and the transfer of the merchants to re-export for Syria, along with the impact of the recent economic sanctions against Iran.

The CBI's cash sales today had reached 6 million dollars, on an exchange rate of 1,179 dinars per dollar, along with the Bank's interest of 13 dinars per dollar, whilst the foreign transfers have recorded 62 millions and 33,000 dollars, also on an exchange rate of 1,179 dinars per dollar, along with the Bank's interest of 13 dinars per dollar.

The bulletin repeated its daily comment that the banks that attended its session, including the 13 banks that attended today's session have not offered a single dollar for sale in the auction.

The Central Bank of Iraq holds 5 weekly sessions for selling and purchase of foreign currencies, beginning on Sunday and ending on Thursday, charging 13 dinars per dollar for its cash sales, along with another 13 dinars for its foreign transfers.

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Araji: calls for monitoring of foreign remittances for fear of making Iraq a location for money laundering

09/02/2012

The independent Iraqi news agency / Baghdad / a. M .. called the head of the Liberal Bahaa al-Araji, to address the economic crisis which he described as artificial and political purposes are meant to confuse the economic situation after the departure of the occupying forces.

They said in a statement received (and independent Iraqi news agency) a copy of This crisis took the fear and confuse many workers in the economic field, pointing to the importance that there will be severe restrictions on the part of private banks and facilities to develop its work to help build the Iraqi economy on the other.

He explained: The search entry of foreign remittances to the country and we found can be a way to smuggle money and laundered in Iraq, adding that there should be restrictions on such transfers and take the necessary oversight to not use these funds in terrorist operations.

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Senior Jordanian officials seized the Iraqi deposits in Jordanian banks

09/02/2012

Baghdad / agencies

The director of intelligence and former Jordanian Prime Minister Ahmed Obeidat The senior Jordanian officials seized the Iraqi deposits in Jordanian banks after the fall of Baghdad in 2003.

This came during a lecture he gave slaves in the trade unions complex in Amman, and synchronization to disclose this information before the arrival of the Minister of Finance of Iraq to Amman, Jordan to ask about $ 120 million from Iraqi funds frozen by the Jordanian government during the fall of Saddam Hussein.

Jordanian sources said that Baghdad is not convinced that Jordan's response confirms that the records of the Central Bank of Jordan indicates that the process of converting the $ 120 million took place after the formation of the Iraqi government and that the handover is completed.

The Jordan has frozen the funds valued at more than half a billion dollars after the U.S. occupation of Iraq in 2003. The Iraqi government insists that the Iraqi central bank records do not indicate the receipt of $ 120 dollars from the Mellon Iraqi funds frozen in the Central Bank of Jordan.

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Deputy for the State of Law: National Alliance paper closest to the Constitution to resolve outstanding issues

Thursday, 09/02/2012

Baghdad (news) .. Preferred member of a coalition of state law MP / National Alliance / approved chewing gum, paper and block the National Alliance for the other blocks on resolving outstanding issues between the blocks, being closest to the Iraqi constitution.
The gum in the statement (of the Agency news) on Thursday: The solution to the problems between the political blocs need to be a strong desire of the blocks, but the closest paper to the constitution to resolve the outstanding issues is the paper of the National Alliance made by and to be raised through the National Congress, accusing some of the blocks that it is seeking political consensus to make a substitute for the Constitution.
The MP for the National, that all the political agreement between the blocks does not violate the Constitution, the coalition is ready for its implementation.
And was a member of the State of Law MP / National Alliance / Ihsan al-Awadi, has revealed details of the paper provided by the National Alliance to the President of the Republic, noting that the most important paragraph included in the formation of a panel of advisers to resolve current differences and problems that arise in the future, pointing out that the national meeting will not solve the problems but also develop mechanisms to solve them.
He said Al-Awadi (the news): The National Alliance agreed at previous meetings on the mechanisms of action and mechanism of the future partnership with the political partners, as well as the National Alliance put forward some solutions to outstanding problems between the blocks to advance the political process forward.
He added that the most important paragraph in this paper is to find the legal advisers concerned with solving the current problems and disputes that arise in the future and is made up of all the political blocs and that this body did not agree to be transferred to the Federal Court.
The MP pointed to: the national meeting that will not solve the problems, but puts the general mechanisms will be agreed upon at the national meeting to resolve outstanding problems between the political blocs. / Finished / 7. For. M /

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Chairman of the Federation business: The private sector now extinct and activate necessary for economic development

Thursday, 09/02/2012

Baghdad (news) .. The head of the International Federation of Businessmen punitive Hamid that the process of economic development needs to involve the private sector with a year in the construction and reconstruction of the country.
He said the punitive (for the Agency news) on Thursday: The private sector has no role in actor and president of economic development currently, due to the activation and rehabilitation of its laboratories, calling for the need to be involved with the public sector to promote the country's economy.
He explained: that rehabilitation of the private sector comes through the distribution of soft loans to him and participation with the public sector being exposed to abnormal conditions such as war and terrorist attacks continued, which led him to a deterioration of infrastructure and isolated from the domestic and global markets.
He added that the federal government has not yet moving towards activating economic sectors of the private sector Kalzerai, industrial and other sectors vital because she is preoccupied with political issues, leaving the important economic issues.
He noted: the lack of legislation and laws that serve the private sector and supported, so as to make him an active role in the development of the country's economy as a result the absence of clear economic visions in Iraq. / Finished / 8. D. Q /

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Kuwait Energy Company is considering entering into the next round of oil licensing

08 February, 2012

Kuwait Energy Company confirmed me. The. C Kuwaiti it is considering Hagliat in tenders expected to be posed by the Iraqi Oil Ministry.
The Vice Chairman of the Board and Chief Executive Officer Sara Akbar, in the company that the company is preparing to enter the bidding, which is expected to be posed by Iraq in May next year to explore oil and gas there.
She said one of the opportunities that it looks Kuwait Energy is located near the places where we currently operate.
The company had announced in October, in October 2010 that it won contracts to develop gas fields and Ciba Mansuriyah in Iraq for over 20 years, in the third session of the tenders on the three gas fields put forward by the Iraqi Oil Ministry.

The largest in the interview that the company is currently focused on Iraq, Russia and Egypt also have a business in Yemen and Pakistan, Ukraine and the Sultanate of Oman.

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