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  1. #11
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    Default Iraqi Dinar Cash Exchange System To Be Installed

    Intereresting,

    Thanks Seaview. With all this activity, make you wonder, why would they be pushing for ATM machines with capacity for FOREX transactions? If you read all these articles, sure seems to be an active time for changes and laws to be pushed through, much of it related to international trade now that oil contracts are nearly signed, of course, we have heard this before. lol

    Success to all, Mike

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  3. #12
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    Chairman Baghdad Chamber of Commerce meets Iranian trade delegation in Baghdad

    President met with Baghdad Chamber of Commerce today Amjad Jubouri Iranian trade delegation in the Chamber of Commerce headquarters at the invitation of the Chamber to the Chamber of Commerce and business leaders in Iran to take advantage of investment opportunities provided by the Foreign Investment Law No. (13) for the year 2006.

    Jubouri said in a statement singled out by the reporter that the delegation's visit aims to strengthen trade relations between the two countries, noting that this visit is the first Iranian trade delegations to Iraq, but Preceded by a visit to the Chamber of Commerce and Industry and Mines of Iran.

    The source indicated that the two sides on the mechanism of joint work between the Chambers of Commerce and the formation of a joint working committee comprising a group of dealers in the two countries.

    http://209.85.227.132/translate_c?hl...eID4zN-h_7nzCw

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  5. #13
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    Iraqi insurance companies

    Worked with insurance companies in Iraq since 1946 and was preceded by foreign companies, agencies and branches of insurance companies in English, Hindi, French, Australian, Swiss and New Zealand, American and Italian as well as the branches of some Arab companies and the companies were operating in Iraq and many more than thirty companies and between the Agency and the branch company of Rivers and National Insurance Company and Insurance Company of Baghdad Company and the appropriation for the Insurance Company for Insurance and good insurance company and the Iraqi Commercial Insurance Company Tigris and the Iraqi Company for Insurance and Reinsurance Company in Iraq.

    After nationalization in 1964 are three companies working in Iraq, a national insurance company with a specialization in the field of general insurance and the Iraqi company for life insurance and specialized in the field of life insurance and reinsurance company specialized in Iraq and re-insurance

    And that the three companies linked to the time in the General Insurance Corporation abolished and the General Organization for Insurance then the three companies linked to the Ministry of Commerce and Finance.

    Worked three companies growth and become giants after the 1997 law was enacted for companies and civil founded several companies and continued civil war to the establishment of companies have increased in number sixteen associated companies and the Ministry of Finance - Office of Insurance and issued several instructions SAI systems the work of civil and insurance companies that contributed to the change of the old contracts and how to conduct insurance by government departments within the Law No. 10 of 2005, which equated civil insurance companies state firms operating only that these decisions stalled by some State officials responsible for applying the instructions in the form and content and these services have kept the old address where they are government-owned company one at the conclusion of contracts, the Court affirmed the equality of insurance insurance companies operating in the sector and we look forward Insurance companies work to upgrade to secure all goods entering the Qatar and imports of machinery and equipment whether of the State or the private sector and non-secure outside Iraq and be secure all the import companies Iraq is no secret that working in government and private companies are an experienced long-insurance and proof of insurance companies to attract foreign and Arab Iraqis working experience in the field of insurance and utilization of the Gulf States, Jordan, Yemen, and today the government is required to support insurance companies as a reserve for the banks and stop the eligibility for insurance to enter Iraq from Goods and equipment to foreign insurance companies from the neighborhood hope from the Minister of Finance to intervene not to insurance outside of Iraq to give instructions for that and also the case in most countries of the world and the first to have insurance inside Iraq to import all the does not pay money to companies outside Iraq when the importation of any material or machine or a commodity trading note that insurance companies operating in Iraq with experience and ready to secure imports of goods and equipment and Yours thanks and appreciation.

    http://209.85.227.132/translate_c?hl...uLCiHwE5hYS41w

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  7. #14
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    Iraq Stock Exchange .. And the requirements of reform

    Grew up in Iraq for the first time securities market in 1991 to regulate the sector non-bank financial institutional framework that aims to encourage private savings and convert it into meaningful investments in the productive sectors of the Organization in the shareholding companies was supposed to be a market outlet transfer of ownership of public companies, governmental organizations to the general public (democratic capital) within a comprehensive privatization programs. Where the economic literature suggests that successful economies are those delicate succeeded in creating means of facilitating the empowerment of individuals in those communities from entering the facilitator to capital markets, including non-banking specifically.

    We note that economic historians point out that the economic recovery in the United States has been achieved in fifty years after it had become possible for small savers to invest their money easily in the capital markets either directly or through investment funds and after that declined the role of the banking sector to dominate those markets What made this transformation? This shift has enabled small savers to invest in markets that were practically a monopoly "on the rich and financial institutions.

    Therefore enabled this transformation to expand the base savings by providing savings to the owners of natural low-income and small savers, which provided a possibility of a higher and more comprehensive to transform the new investments and described this silent revolution (b democratic capital) because they allowed the common people on a large scale to become owners of shares and bonds in companies winner of America and the world.

    Go back to the basic position again, where he continued the Iraqi market for securities in the work and was able to half the market, despite its disadvantages and created the circumstances surrounding the development of some of the foundations and traditions of the markets in Iraq, as follows:

    1 The number of listed companies in the private sector and mixed (64) company when the market reopened for trading in 1992 to more than (120) company in early 2003.

    2 Volume in 1999 was approximately (30) billion dinars, and then rose to around (50) billion dinars in the year (2000) or equivalent (25) million dollars on the assumption that the exchange rate (2000) dinars to the dollar in (2000) that is simple average of trading volume per session was around (150000) to (170000) dollars.

    3 Total market capitalization (number of shares multiplied by closing price for each company included) is equivalent to (200) to (250) million dollars "before 2003.

    4 The number of brokerage firms, including banks approved and granted time off at Launch of approximately (50) holiday.

    5 Report to reflect the simple average brokerage firms (assuming equal work) the amount of (50) Only $ per session before tax and after taking into account the market share of commission!

    Accomplishments seem above during the period of about ten years, a very modest and disappointing because it does not fit at all with the size of the Iraqi economy.

    But for the fact that after the events of 9/4/2003 been a considerable evolution in the work market by increasing the number of listed companies in the private sector and the mixed and trading volume in addition to increasing the capital value of the market and increase the number of licensed brokers and the simple average increase in revenues, however, there nevertheless market, the Iraq Stock Exchange witnessed a serious deterioration in recent times for several reasons including the lack of harmonization of macro-economic environment and weak institutional environment and the spread of the manifestations of corruption in government and joint stock companies and the sharp fluctuations in the market as is the case in most markets, including emerging markets in the geographical proximity to Iraq have resulted in to obstruct the work of the market, which was expected to move the joints of the economy through national funds in the joints of agriculture, industry, tourism and services is therefore essential for reforms in the market, as follows:

    Demands for reform lies in two aspects:

    1 side Legislative authority:

    A The legislation guarantees to investors to compensate them for losses incurred by them for continuing their work without enormous losses and large through the identification of the size of the fluctuation in share prices in the range of (+10%, _10%) of the prices of those shares, for each session and this is the case in Many world stock exchanges, including exchanges of some neighboring countries.

    B Requiring the departments of companies to compensate the shareholders or investors losers losers to pay the risk of bankruptcy for them to meet the market need for the continuation of properly without breakdowns Kalhasalp Alan in the Iraqi market for securities.

    C Need to change the management of the financial market, which bear a large part of responsibility for the debacle taking place now.

    D Curtailing the activities of mediation in the market that lead to manipulation and fraud and suspicious transactions which have had an active role in this collapse has occurred.

    E Activating the role of the government securities, a government entity does not exist on the ground of creation was an act of exercise but to consider the importance of honoring their presence is not mandated through the receipt of the huge salaries with little in return.

    2 procedural aspect:

    A. The need to enter the Economic Committee of the Council of Ministers quickly and directly to save what can be saved in the interest of national investment.

    B The need for government financial institutions to purchase large quantities of shares belonging to companies traded on the Iraq Stock Exchange a way that leads to a revival of the detailed basic joints in addition to the national economy that could lead to profits of these institutions after the recovery of stock prices that would result from operations these procurement and thus invest funds and those institutions effectively and properly, because these institutions suffer from a lack of opportunities for investment and accumulation of big money in their vaults to create a full cycle of the national capital to serve the realization of those government institutions by diversifying its investments and push towards improving the local investment opportunities and to encourage new investors to invest their money in the market to achieve two objectives: first, to buy shares of publicly traded companies and pay towards dealing in securities on a large scale, secondly, to reduce the risk of inflation, which is one of the main obstacles which limit the movement of the Iraqi economy, which suffers from major problems and serious, multiple and be represented on the administrative corruption and financial support and poor performance, implementation, and external indebtedness and terrorist operations and financial compensation, non-specific or so-called Bmuftouhp endings which is a bleeding wound in the side of the Iraqi economy.

    In addition to the delay in the realization of the governmental sectors and the presence of large unemployment and underemployment, so the revival of the Iraqi market for securities and keeping it from collapse is a fundamental pillar in strengthening the Iraqi economy.

    So we can say that Iraq has a historic opportunity today to arrange the economic situation according to the foundations and principles of innovative employment verification human and material resources in accordance with sound economic fundamentals efficient to ensure the efficient distribution of natural and human resources to achieve rapid growth in the gross national income so as to ensure employment of what is available work force young in different productive sectors of agriculture, industry and services and banking activity, Mali, so as to ensure achievement of income for the family in giving them economic well-being commensurate with the resources of the country and God to help and conciliation.

    * Hilal Ta
    *Researcher and an Iraqi Academic


    http://209.85.227.132/translate_c?hl...P_wUD9poi_wjYQ

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  9. #15
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    Iraq may not pay dues Kurdistan oil companies years ago

    E.xecutive said working in the oil exploration in the Kurdistan region in northern Iraq, said Western oil companies operating in the semi-autonomous region may have to wait for years before the government would pay its dues for the oil produced.

    John Manzoni, chief E.xecutive of Talisman Energy on Tuesday said it was likely that the crisis continues, where companies produce DVD. That. Or International, Norwegian, Turkish and Genel Energy Addax Petroleum's London-listed oil tens of millions of dollars a month without getting their dues.

    He added, "nothing will happen from now until January," referring to the Iraqi parliamentary elections on 16 January.

    He said in remarks to reporters on the sidelines of a conference on oil, "we will move out for some kind of political agreement, construction within the next few years .. It may take this long."

    Did not agree the Baghdad government and Kurdish authorities on how to share Iraq's oil revenues, which disables the default.

    Reported de. That. Or the Heritage Oil, which is about to acquire Genel investors that they are likely to reach an agreement soon on the payments.

    Talisman bought - the third largest independent producer of oil and gas in Canada - last year, two classes of excellence in the areas of oil facilities in the Kurdish region but the company does not hurry to start production until now because of the expectation that payments would not be paid years ago.

    Manzoni said, "Snhrk investments in line with that. If we move in the political situation may strengthen the investment."

    Talisman and a significant producer of gas in the United States Manzoni was not optimistic about the outlook for this activity.

    "The price of gas is too low .. and I think it may remain low for 12 to 18 months."

    http://209.85.227.132/translate_c?hl...d7EASW6mH4I-Zw

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  11. #16
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    Abd al-Hadi al-Hassani accused Arif Tayfur disrupt Oil and Gas Law

    Attributed the Vice Chairman of the Commission on oil and gas in the Lower House Speaker Abdul Hadi al-Hassani delay approval of oil and gas law in parliament to political reasons.

    Hassani said the National Agency for the Iraqi news agency said oil and gas law is ready for submission to the House of Representatives, however, Council Vice-President Aref Tayfur refrain from the inclusion of law on the agenda of the Council.

    He said, adding that there is an inclusion of laws you want political distribution of resources and the national oil company and the Oil Ministry and oil and gas at one time on the agenda.

    He said Hassani, the need to establish oil and gas law for the advancement of economic realities.

    http://translate.google.co.uk/transl...hl=en&ie=UTF-8

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  13. #17
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    Iraqi Finance believes that the removal of zeros currency was premature and not to harm the deputy finds

    The Undersecretary of the Iraqi Ministry of Finance said it was premature to remove the zeros from the Iraqi currency, as expressed by a member of the Finance Committee of the Iraqi Council of Representatives believed that removing the zeroes damaged, the Iraqi economy.

    Fadel said the Prophet told the Kurdish news agency (AKnews) said Wednesday that the "policy of removing the last three zeroes from the Iraqi currency by the Central Bank of Iraq, in order to raise the purchasing power of currency, is very premature."

    The Prophet said "The Central Bank of Iraq is free in this area, but to Aitba of such a policy at the present time, even if the bank pursued such a policy, the Ministry of Finance believes that it was premature because the Iraqi currency is stable against the American dollar."

    For his part, said a member of the Finance Committee in the Iraqi parliament, Sami Atrushi to "remove the zeroes from the currency mentioned the Iraqi economy will be damaged if Iraq wants to take a point in the local currency value, with the U.S. dollar Aotqterp it, because the proceeds of Iraq depends on oil issued in the first place" .

    The CBI has sought since the period to follow the policy of removal of the last three zeroes from the local currencies.

    http://translate.google.com/translat...ate.google.com

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  15. #18
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    Central stop the auction of foreign currencies because it coincided with the Eid al-Fitr holiday

    adviser to the Central Bank of the appearance of Mohammed Saleh, Sunday, that the central auction for the sale and purchase of foreign currencies will stop until next Wednesday because it coincided with the Eid holiday.

    The appearance of Mohammed Saleh told (Voices of Iraq) that the central bank "has decided to suspend trading auction for the sale and purchase of foreign currencies during the Eid holiday announced by the Iraqi government, beginning on Sunday and ends next Wednesday," noting that the auction "will be held during the meeting next Thursday being a normal working day."

    The General Secretariat of the Council of Ministers announced last Thursday about its decision to begin the Eid holiday on Sunday for four days, to resume office hours on Thursday (24 / 9) in all government departments."

    The central bank held an auction of five meetings a week starting from Sunday to Thursday for the sale and purchase of foreign currencies, and receive a cash commission on the sale of about 13 dinars per dollar, and receive a commission of three dinars per dollar on the sale of remittances outside the country.

    http://209.85.229.132/translate_c?hl...slm0IFzarlibcg

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    Talabani says he will ask the United Nations to intervene in matters of bombings and sanctions

    Iraqi President Jalal Talabani before heading to the United States on Tuesday that his country would ask the United Nations to intervene to assist them in matters of bloody bombings in Baghdad last month, and the lifting of sanctions.

    Talabani said in response to a question by the Agency "Agence France Presse" about Iraq's request for an international tribunal to investigate the bombings, "I will put the subject as crimes of terrorism and war crimes, genocide, we will ask UN intervention to help us." Iraqi officials accuse Syria of harboring leaders of the former Iraqi Baathists are behind the attacks, but Syria denies the accusations.

    On the other hand, Iraq will demand an end to sanctions imposed under Chapter VII of the Charter of the United Nations.

    The vice president of the Kurdistan region Rasool, who is accompanying Talabani said that "Iraq will demand to write off the debt and end the situation in Iraq under Chapter VII and put an end to the unjust compensation imposed on it."

    Has pushed Iraq to Kuwait since 1994 until the end of July (July) the past, the amount of 27.62 billion dollars (19,6 billion dollars) in compensation for its invasion of her.

    Iraq now and pay 5 percent of the proceeds from oil sales to a special fund at the United Nations as compensation for the invasion in the era of the late President Saddam Hussein in 1990.

    But Baghdad is demanding to reduce this ratio to 2,5 percent, and calls upon the UN Security Council to pass a resolution confirming that Iraq no longer poses a threat to international security.

    The Fund has received requests for special compensation of $ 368 billion, but acknowledged only $ 52 billion, including 39 billion for Kuwait, and that according to figures from Kuwait and from the Fund.

    And Iraq has already paid more than $ 13 billion in compensation to Kuwait and what still needs to pay more than $ 25 billion, as well as debts owed an estimated $ 16 billion.

    http://209.85.229.132/translate_c?hl...2SAPWp5za3O16g

  17. #20
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    Hayali: election laws, oil and gas and retirement the most important consideration by the Parliament at its next

    MP for the Accordance Front, Nur al-Din al-Hayali said the House would give priority at its next meeting to discuss the electoral law and oil and gas and a draft pension law.

    Hayali said in a press statement that the parliament will discuss the important laws that can not be surpassed, such as oil and gas law and the general budget for the year 2010 and the electoral law and the pension law and the law to protect journalists.

    He added that there is insistence Hayali within the Council to enact a law to achieve the retirement income of the large slide, noting that the House of Representatives will give importance to these laws, for the remainder of the old legislature.

    http://www.radiodijla.com/cgi-bin/ne...?id=2009-09-22 08:45:26

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