Economic parliamentary: Remove zeros from the Iraqi currency end of next year

21/02/2012 12:27

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Erbil, February 21 (Rn) - Economic Commission denied the decision in the Iraqi parliament, on Tuesday, told a House of Iraqis on the issuance of a new Iraqi currency in the month of September next.

The MP said the Kurdistan Alliance bloc, Mahma Khalil, told the Kurdish news agency (Rn) that "the process of issuing new Iraqi currency will start at the end of 2013, where the three zeros will be removed and written in English, Arabic and Kurdish."

Khalil added that "the parliamentary economic committee was held up to now, several meetings with the Iraqi Central Bank Governor on the issuance of a new Iraqi currency."

He explained that "the new currency will contain several categories, as a group of 50 fils, quarter of a dinar, half dinar, one dinar, five dinars 0.25 dinars, 50 dinars."

He pointed out that "the aim of this step and the issuance of new currency, is to raise the value so that the Iraqi dinar is equal to the value of the U.S. dollar."

He stressed that equal the value of Iraqi dinar with the U.S. dollar, based on the balance of the dinar and the increasing availability of monetary reserves, a high level of the Iraqi economy and the sale of oil and gas and the capacity of the state, in addition to the efforts of the Iraqi Central Bank aimed at the strengthening of the dinar in the future. "

He ruled out Khalil lead to issue the new currency and to remove three zeros, to the inflation in the Iraqi economy, saying "the Iraqi state has $ 60 billion as reserves at the Central Bank and the research indicates and Statistics that the Iraqi economy is moving towards improvement, has also started gas sales and operations of investment increasing, so the phase through which Iraq currently require issuance of new currency.

And was a member of the Economic Committee in the House of Representatives of Iraq, Abdul-Hussein Abtan, told the Kurdish news agency (Rn) earlier, "The Committee agreed with the Central Bank to begin the process of changing the local currency in September next."

But Khalil, said "I am the parliamentary economic committee rapporteur, to assure that" this is not unfounded, but the new currency will be treated at the end of 2013. "

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New measures to maintain the value of Iraqi dinar

21/02/2012

The independent Iraqi news agency / Baghdad / s. P ... the Iraqi Central Bank announced new measures to maintain the value of the Iraqi dinar against the dollar.

He said Central Bank Governor Sinan Shabibi moved in a press statement the reporter (and independent Iraqi news agency) that, given the high demand for the dollar's central bank has taken new measures organizational rather than restrictive. Assured that Shabibi Monetary policy in Iraq, fine, because there is high up which is called the cover of the currency, which gives us flexibility in dealing with monetary policy based on the study of the march of the economy, inflation and rising Prices as if prices rose significantly we will resort to tougher measures, but if the pace of increased prices in Less there will be another measure

. The past few days have seen a rise in the exchange rate of the dollar against the Iraqi dinar, prompting concern among some citizens ..

And on the process of deleting the zeroes, said Shabibi That There are a lot of work and continuing in relation to the process of deletion of zeros. The new currency will be launched in 2013 .. But now we have many ideas for the design of the coin and paper to reach a final form for the new currency, but it needs time to the multiplicity of designs and designers, the competition for features included in the currency

. Ruled out the central bank governor affected the market to change the currency, saying the steps well thought out, and all banks will contact the Central Bank in accordance with the regulatory process will withdraw currency from banks and provide them with the Central Bank of new currency will not accompany the process has no effect in relation to the markets and trading will be easy for the new currency. Scheduled that are deleted three zeros from the new currency, ie that the sum of one thousand dinars will become the new currency was IQD one. describes the Central Bank of the currency exchange project, the national supporter of the economy in the country, while expressing the outskirts of governmental and political fears of the project because it will increase the phenomenon of money laundering, also believes that adversely affect the financial trading the stock market.

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Zebari confirms the appointment of Saudi Arabia's first ambassador to Iraq since 1990

Tuesday, February 21, 2012

Foreign Minister Hoshyar Zebari said Saudi Arabia has appointed its first ambassador to Iraq since 1990.

Zebari said in a press statement on Tuesday that "Saudi Arabian Alasodeh appointed ambassador to Iraq to restore full diplomatic relations for the first time since the mystery of former President Saddam Hussein, Kuwait."

He added, "that for the first time since 1990 appointed Saudi Ambassador to the Kingdom of Iraq."

A Saudi official had announced on Monday that "the Kingdom presented to the Iraqi embassy in Riyadh nominate its ambassador to Jordan Fahd Abdul Mohsen Al-Zaid to be a non-resident ambassador in Baghdad.

This is the nomination in terms of diplomacy, the first step to restore diplomatic ties severed between the two countries since the invasion of Saddam Hussein, Kuwait in 1990. Observers believe that the move came in a period of preparation for the Arab Summit Conference to be held in Baghdad next month and that Saudi Arabia may be involved in the summit.

The Arab countries that have diplomatic representation at the level of ambassadors in Iraq, Egypt, Yemen, Kuwait, UAE, Bahrain, Jordan, Palestine, Sudan, Syria, Algeria (non-resident ambassador) in addition to the Arab League. The countries that have representation at the level of Chargé d'affaires are Morocco, Tunisia, Lebanon, the Arab countries that have no representation in Iraq are Saudi Arabia, Qatar and Oman.

The Libyan delegation has visited Iraq recently to discuss Fatah Libyan embassy is expected to arrive soon, a delegation from Somalia and his chargé d'affaires for the purpose of reopening the embassy also discussed the Somali delegation of Mauritania has visited Iraq recently re-issue of diplomatic representation between the two countries. / End.

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Finance Committee: the House of Representatives approved the budget next Thursday

21/02/2012

The independent Iraqi news agency / Baghdad / a. M ... Vote in the House next Thursday on the state budget for the year 2012, according to what was announced by House Speaker Osama Najafi during a session of Parliament yesterday. And recorded the Finance Committee, the parliamentary 454 Note on the budget, as confirmed Najafi Committee continuing its work to include all the proposals in the bill, as well as the continuation of the meetings Council approving the budget until next Thursday. Despite the different opinions on the date of Representatives vote on the budget.

Announced that the Finance Committee in a press statement transfer reporter (and the Iraqi News Agency Independent) that the report on the budget will be ready on Wednesday to brief by the Council before the vote on the budget on Thursday. In the meantime, student number of the deputies not to rush to vote on the budget to give the House some time to familiarize themselves with in detail on the report of the Finance Committee and in order to rectify the mistakes that occurred in previous budgets, while others saw the importance of approval on Thursday because the delay caused harm to citizens and hinder investment projects.

The Finance Committee It had agreed to give retirees the amount of (600) thousand dinars distributed in the form of payments for the amendment of the law when public pension

She added that the Finance Committee canceled the article (25) of the Code of the federal budget for this year, which includes fire advances granted by the Government

Msheerta That the Finance Committee formed a sub-committee to study the conditions of these advances and how they spent Legally or illegally

. And The House of Representatives ended last Thursday to discuss the draft budget law, and was supposed to be voting on the budget yesterday, but the presence of several problematic postponed the voting process to the next Thursday.

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Tomorrow .. Minister of Finance and Planning illustrate the problems occurring on the budget

Tuesday 21/02/2012

Baghdad (news) .. A source at the Ministry of Finance said that the Ministers of Finance and Planning will hold a news conference on Wednesday, about the federal budget for 2012.
The source (of the Agency news) said on Tuesday: that the two ministers will hold Shukri al-Issawi and a press conference Ciodhan where everything related to the federal budget, and directions of the government on the budget.
The source pointed out: that the purpose of the conference to clarify and reveal the problems occurring on the budget, and the impact of delays on projects that the government wants to speed up implementation.
This is likely a member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib approved budget bill this week as a result intensify the work of the Commission to speed up the passing.
Najib said (of the Agency news) said on Tuesday: The Finance Committee is considering the parliamentary budget bill and discusses the material to be passed quickly and by adopting as soon as, through the intensification of work and continue to always.
She added: We are still discussing the paragraphs of the budget and formulations legislation with respect to its tools and study the proposals submitted to it, noting that all things were not settled and contemplates resolved during the next few days and submit the draft to the Presidency of the Council of Representatives for the most important changes in the paragraphs to be rated.
Najib pointed out: that the increase of pensions is one of the priorities of the proposals on the draft budget and took a large portion modifications that take place on the budget bill as a topic of interest to a large segment of the people and aroused the attention of members of parliament and political blocs.
She explained: that the mechanism and how they can, during which half of this important segment has not been resolved yet.
The Iraqi Finance Minister Rafie al-Issawi said in the eighth month of December of last year, in a press conference that the entire Iraqi budget for the current year amounted to (117) trillion dinars. / Finished / 4. N. R /

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Legal Committee calls for the Foreign Relations Committee follow up the issue of citizenship detainees in Iraq in Kuwait

21/02/2012

The independent Iraqi news agency / Baghdad / n. U .. According to a member of the Legal Committee, Mahmoud Hassan said the Legal Committee will address the Foreign Relations Committee to follow up the parliamentary Citizenship detainees in Iraq and Kuwait with her ​​release under an agreement between Iraq and Kuwait.

Al-Hasan said to the reporter (and independent Iraqi news agency) on the politicians adhere to the principle of morality, law and legitimacy and that we demand the release of the Iraqi women. "

He said. Subject bears a great importance as it should be emphasized on the need to seek by all MPs and political leaders to resolve this issue.

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Chairman of Bank of the economy: the law of private banks was raised by primer is necessary to continue its work

Tuesday 21/02/2012

Baghdad (news) .. The Chairman of the Board of Directors Husam Obeid Bank economy should continue to work the law of the banks created by the U.S. civil administrator Paul Bremer year (2004) serves as the Iraqi banking sector.
Obaid said (of the Agency news) said on Tuesday: The laws created by the governor, former U.S. Paul Bremer private banks Iraqi-backed and Buoyed being included formal institutions and mixed as well as institutions of self-financing to deal with private banks, making a movement of big banking in the country.
He added, should continue to work with these laws to serve the banks in particular and the national economy in general.
He pointed to: that the work of Bank of the economy locally applied the principle of helping the construction sector of the country through the granting of loans to entrepreneurs and investors in implementing their investment projects and services in the country, noting that each bank draws particular in his work of them rely to their work on banking and others to support the various economic sectors in the country.
And The Economy Bank for Investment and Finance is one of the private banks and private, established in (1997), and has (50) branches in all provinces and seeks to deal with international banks and open branches outside of Iraq. / Finished / 8. D. Q /

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