Saad: Adoption of oil and gas law is an urgent need to put oil in the political track

 16/08/2012

 

BAGHDAD / not / confirmed member of the Commission on oil and energy parliamentary Susan Saad declared that there is an urgent need not Issuing a law regulating the work of the oil sector and put the oil in the political track, especially the revised version by the government. She said in a statement received "Agency secrets news / not /" copy, "that Iraq is one of the founders of the Organization of Petroleum Exporting Countries and the tremendous natural resources, and must be a special law to take advantage of them and developing them to serve the interests of the people in particular that he is going through a crisis of security stifling reflected significantly on the performance of political, economic and social development. and demanded that be to continue to discuss and Tndij the content of the law in a professional and transparent manner, with the recommendation to invite a group of Iraqi experts to contribute to the review of technical, professional and legal. and demanded Saad all the political blocs to intensify efforts to pass this law and agreed upon after the submission of sufficient concessions Pacific through dialogue and constructive, especially since the revised version sent by the government to the parliament ensured the rights of all components of the people in this wealth. " Shidddt and the need to be aware of the political blocs that the delay in approving the law is not in the interest of one, especially that it is the main reason for the crisis taking place between the Government Center and the Presidency of the Kurdistan region. "/ End

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President of the Union proposes the establishment of the business concerned with the private sector, industrial sector for the advancement of its

 8/16/2012

Baghdad (news) .. Proposed by the President of the International Federation of Iraqi businessmen punitive Hamid, the establishment of an independent economic embrace of economic reform in the country through neighborhoods and development of local industries for the advancement of the private industrial sector.
He said the punitive (for the Agency news) on Thursday: The national economy needs a package of reforms starting from the industrial sector, which is the basis of economic development in the country it serves imports poses significant financial and domestic products to foreign competition.

He added: agency should be established independent economic of industrial workers in the public and private sectors with expertise and working in professional organizations, economic development, aimed at advancement of the industrial sector and private to provide all the necessary financial support, assistance and advice in order to recover the local industry and return to normal.

He pointed to: that economic sectors of Iraq needs to fully support the restructuring and infrastructure that were demolished over the (20) years as a result of war and the blockade that has passed on Iraq, making the country the country of the consumer's product is supported on the economy of a yield oil. / Finished / 8 . d. Q /

 

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Deputy for the National Alliance: Paper reforms will be implemented after agreement by all

 8/16/2012

Baghdad (news) .. According to MP / National Alliance / Hadi Yasiri, that Almarqlat, who was standing in front of the political blocs were removed, noting that the terms of the reforms will be implemented and the paper one after the other.
Yasiri said in a statement (of the Agency news): The political situation now is better than the former existence of quiet understandings and dialogues between the political blocs.

He added: There is substantial convergence between the Iraqi List and the National Alliance on paper the reforms put forward by the National Alliance and agreed to by everyone.
The MP for the National Alliance to: that the paper reforms will be implemented on the ground, but there are some outstanding differences between the political blocs belonging to the Constitution, so it needs time to be presented to Parliament and to reach a settlement of the differences between the political parties.

Included a reform paper, three points are inviting all political parties to review the situation in the light of the political crisis experienced by the country and to invite the political parties to deal with the dialogue positively and put all the files on the basis of commitment to the Constitution, as well as inviting partners to discuss important issues and find solutions according to the ceilings of time In addition to the media's commitment to the truce. / Finished / 2. n. r /

 

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Finance Minister confirms need for Iraq to experience the World Bank for the development of financial institutions

15/08/2012

The Iraqi News Agency Independent / Baghdad / e. M ... Search Finance Minister Rafie al-Issawi with the World Bank representative in Iraq, Mary Helen Pericnl issues related to financial and economic matters.

 Issawi said during the meeting, according to a statement his office had received (and the Iraqi News Agency Independent) that Iraq needs the support and expertise of the World Bank to develop its financial institutions and economic development, "referring to the importance of implementation of the agreements entered into yen, the two sides on cooperation of the World Bank with Iraq in order to promote the fact of the financial and economic both in order to achieve better access to financial returns, which provides economic prosperity of the country.
 

Prime Minister Nuri al-Maliki discussed with Pericnl yesterday, "bilateral cooperation and the Bank's support for Iraq, in order to build a cohesive and strong economy."

The two sides stressed the "need to take advantage of the Iraq experience possessed by the World Bank and provide opportunities for the training of cadres that will contribute to the planning and management of the economy and development and moving the various sectors.

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United Nations Iraq is demanding the law to explore for oil and gas HCL

08/15/2012

Baghdad / follow-up JD / .. announced the Special Representative of the United Nations in Iraq, Martin Kobler that the Iraqi parliament approved the Law on the exploration for oil and gas is one of the priorities of the international organization that formed a team to follow up this file.
Petrofac won the oil services contract for offshore oil operations in Iraq worth $ 100 million.
While carried the Iraqi Ministry of Electricity and the responsibility of the Ministry of Oil production fell about a thousand megawatts of its failure to provide fuel for power generation units, especially during the past two days.
The law, which calls for the adoption of the United Nations aimed at regulating the oil sector in Iraq and to establish rules for sharing revenue between the central government and the provinces is still in the inclusion of Parliament for years.
The Special Representative Martin Kobler "The team internally from the United Nations mission to Iraq to help work on this file."
"We want to start a discussion about revenue sharing and then move to the oil and gas law, this law is an important starting point to address major problems such as the relationship between Arabs and Kurds and the issue of federalism, I can say that the key, this will allow the availability of base" to address these problems.
He Kubler "In addition, this country needs to be security for the investments, that the solution to the issue of disputed internal boundaries where the some of the largest untapped oil fields, would be much easier if everyone learned how to share the revenue."
On the other hand said Petrofac oil services listed in London yesterday it had won a contract to offshore oil operations in Iraq worth $ 100 million.
She explained that the contract was for the expansion project of Iraqi crude oil production. / Finished / UAE Federation.

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Salman al-Musawi: supporting the national economy does not come about by replacing the currency and delete zeros, including, but activating the economic sectors

 08/15/2012

Baghdad (news) .. A member of the Economic Commission for MP / National Alliance / Salman al-Moussawi, said the project to replace the currency after you delete the zeros of which does not help to support the national economy, but the project's success depends on the strength of the economy and the stability of the local market.
Moussawi said (of the Agency news): You should think about how to liberate the national economy from unilateral rentier based on oil revenues to a robust economy based on different economic sectors before coming towards the implementation of an important project affects the economy of the country both in terms of positive or negative.

He added that the implementation of the project to delete the zeros of the three by the central bank without a feasibility study will develop the national economy in a dark tunnel and the uncertain future no one knows the results, confirming that the project does not help to support the economy and raising its standards, but support comes through the activation of the private sector and economic sectors different, and then replace the currency is thinking.
He called for deliberation before the application of the deletion of zeros in order not to harm the national economy and the local currency.

The Central Bank of Iraq announced (29 September 2011) that the year 2013 will see the deletion of zeros and switch the currency, which warned him, officials and economists because of the presence of mafias currency is preparing to rig the trillions of Iraqi dinars to replace them in the light of the upcoming changes.

The Council called for the prime minister's central bank to wait a project to delete the zeros of the three local currency, saying he was a big project and needs to be enough time to apply it.

The Central Bank of Iraq accused the government agencies to disrupt monetary reform and vowed that it was persecuting the interests of the country's financial risk. / Finished / 8. For. M /

 

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Banking: the experience of open international banks in Iraq is successful .. And hurt the local banks

  08/15/2012

Baghdad (news) .. I suggest a banking expert Hussam Ali Obeid, support of private banks and providing them the facilities, instead of going to open branches of global banks in Iraq as serving their own interests and harm the banking sector.
Ali (of the Agency news) said on Wednesday: The experience of opening branches of international banks, is successful in Baghdad and the provinces they were limited in recent times on the banks is sober and trying to plunder the riches of the country and the seizure of the capabilities of the country and damage to banking sector.

He added, should support the private banking sector with all the necessary for the advancement of the process of investment, through its contribution to effective as the foundation for economic development of the country, adding that the international banks not serve the national economy does not contribute to driving the investment in the country because the goal of their work is to serve her country and harm the Iraqi economy.

The banking system in Iraq consists of forty-three banks, as well as the central bank and distributed according to ownership between (7) banks and government (30) my family, including Bank (7) Islamic banks in addition to (6) foreign banks.

In spite of the Investment Law No. (13) for the year 2006 has been excluded investment in the banking sector of its provisions, except that the investment in the banking sector takes its legal framework on the basis of legal central bank number (56) for the year 2004, banks number (94) for the year 2004, with a The minimum to establish a bank in Iraq (100) billion Iraqi dinars (ie around 85 million dollars (. / Finished / 8. d. Q /

 

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