Thread: Iraqi/Dinar News History 2-3-07 thru 3-5-07(at 11:30am cst)

A shared stake in Iraq's future
By Zalmay Khalilzad
04 March 2007 (Los Angeles Times)


Under the national hydrocarbon law approved last week by Iraq's council of ministers, oil will serve as a vehicle to unify Iraq and will give all Iraqis a shared stake in their country's future.

This is a significant achievement for Iraqis' national reconciliation. It demonstrates that the leaders of Iraq's principal communities can pull together to peacefully resolve difficult issues of national importance.

Resolving concerns about control of oil is central to overcoming internal divisions in Iraq. The country has the third-largest oil reserves in the world, and more than 90 per cent of federal income comes from oil revenue.

The effective and equitable management of these resources is critical to economic growth as well as to developing a greater sense of shared purpose among Iraqi communities.

The goal of Iraq's leaders was to draft a law that ensured that all Iraqis could be confident they would receive their fair share of the benefits of developing the country's resources, that the revenue from oil and gas would enable a decentralisation of power while maintaining national unity and that Iraq would adopt the best international practices for the development and management of its mineral wealth.

By these standards, the hydrocarbon law is a great success. It:

Reaffirms that oil and gas resources are owned by all the people of Iraq and contains a firm commitment to revenue-sharing among regions and provinces on the basis of population.

Establishes a predictable framework and processes for federal-regional cooperation that demonstrate the government's commitment to democracy and federalism.

Creates a principal policy making body for energy - the Federal Council on Oil and Gas - that will have representatives from all of Iraq's regions and oil-producing provinces.

Ensures that all revenue from oil sales will go into a single national account and that provinces will receive direct shares of revenue, thereby significantly increasing local control of financial resources.

Establishes international standards for transparency and mandates public disclosure of contracts and associated revenue and payments. This is essential to build confidence in the new political order and to counter corruption.

The law defines a role for the oil ministry that is primarily regulatory, which is the modern standard and which will also harness the market to achieve the optimal development of Iraq's resources. It provides the legal framework to enable international investment in Iraq's oil and gas sectors, a break from the statist and over-centralised practices of the past.

It also requires best practices in environmental protection and field management and development, ensuring that the environment is not damaged and hydrocarbon assets are not wasted by poor practices of the past.

While the draft law will need to be enacted by the Iraqi Council of Representatives when it returns from recess, the prospects for passage are excellent because all the major parliamentary blocs are represented in the cabinet.

Companion legislation will be required in several areas and Iraqi leaders hope to complete the entire package of hydrocarbon legislation by the end of May.

Arriving at this agreement was not easy. It has taken other countries years to complete such legislation. While negotiating this law presented special challenges for the federal government, the Kurdistan regional government and the leaders of key political blocs, the approval of the draft by the council of ministers sets a precedent for problem-solving and cooperation that is critical to the stabilisation and development of Iraq.

First time

This is the first time since 2003 that all major Iraqi communities have come together on a defining piece of legislation.

A national reconciliation that stabilises Iraq can be achieved if similar compromises are made on the future of de-Baathification and on amending the constitution. The agreement on the oil law should give us confidence that Iraqis are willing and able to take the steps needed for Iraq's success.

Zalmay Khalilzad is the US ambassador to Iraq.

A shared stake in Iraq's future | Iraq Updates

TNT

Iraq ousts 10,000 in security ministry
March 05 2007
By Rick Jervis, USA TODAY

BAGHDAD — Iraq's Interior Ministry has fired or reassigned more than 10,000
employees, including high-ranking police, who were found to have tortured prisoners, accepted bribes or had ties to militias, a ministry spokesman has disclosed.

A soon-to-be-released internal inquiry also details 41 incidents of human rights abuse at the ministry. In one case, four members of the national police hanged prisoners from a ceiling and beat them with sticks in a ministry-run prison known as Site 4, according to the report by the ministry's inspector general.

The United States has pressured Iraq's Shiite-led government to clean up its security forces as they undertake a broad plan to reduce sectarian violence. Sunni politicians have accused Iraq's police of collaborating with Shiite death squads.

More than half of those fired or reassigned since June were found to have militia ties, Jassim Hanoon, the Interior Ministry's deputy spokesman, said in a weekend interview. The investigation is ongoing.

"We are struggling against this disease," Hanoon said of militia infiltration at the ministry.

FIND MORE STORIES IN: Iraq | Shiite | PM | Interior Ministry | Ministry | Interior
The Interior Ministry employs about 270,000 people, including police, emergency response units and administrative staff.

"Maybe we aren't 100% cured," Hanoon said. "But we're getting better day by day." Some ministry employees were fired for arresting innocent people, while others had past criminal records, he said.

Investigators are using information gathered within the ministry to probe political leaders and members of parliament, something not previously done, Hanoon said. Prime Minister Nouri al-Maliki has vowed to pursue criminal charges against political figures — including members of parliament — linked to extremist groups.

The cases of human rights abuse were detailed in a 250-page annual report that will be released this week, Akeel Saeel, the Interior Ministry's inspector general, said in an interview.

The four policemen allegedly involved in the Site 4 case were arrested and handed over to Iraq's criminal court system, Saeel said.

"Under Saddam, investigators had this ideology. Torturing was routine," Saeel said. "I do feel we're having an impact, but it takes time, step by step."

U.S. military advisers are working to better screen and train police, including requiring 15 to 20 hours of human rights training for recruits, said Lt. Col. Pablo Hernandez, a spokesman with the U.S. military unit responsible for training Iraqi police.

"If you look at what they had in the past and the product they're putting out today, it's a lot better," Hernandez said.

Iraq ousts 10,000 in security ministry - USATODAY.com

Originally Posted by bambiebdgrl

Its not about who is who, its about thanking your fellow team members for taking the time and energy to provide us with information that we would otherwise not be privy to.
Leann

It's just nice to know fellow members appreciate what we bring to the table to share... RIGHT?

TNT

Originally Posted by Lunar

Iraq ousts 10,000 in security ministry
March 05 2007
By Rick Jervis, USA TODAY

BAGHDAD — Iraq's Interior Ministry has fired or reassigned more than 10,000
employees, including high-ranking police, who were found to have tortured prisoners, accepted bribes or had ties to militias, a ministry spokesman has disclosed.

A soon-to-be-released internal inquiry also details 41 incidents of human rights abuse at the ministry. In one case, four members of the national police hanged prisoners from a ceiling and beat them with sticks in a ministry-run prison known as Site 4, according to the report by the ministry's inspector general.

The United States has pressured Iraq's Shiite-led government to clean up its security forces as they undertake a broad plan to reduce sectarian violence. Sunni politicians have accused Iraq's police of collaborating with Shiite death squads.

More than half of those fired or reassigned since June were found to have militia ties, Jassim Hanoon, the Interior Ministry's deputy spokesman, said in a weekend interview. The investigation is ongoing.

"We are struggling against this disease," Hanoon said of militia infiltration at the ministry.

FIND MORE STORIES IN: Iraq | Shiite | PM | Interior Ministry | Ministry | Interior
The Interior Ministry employs about 270,000 people, including police, emergency response units and administrative staff.

"Maybe we aren't 100% cured," Hanoon said. "But we're getting better day by day." Some ministry employees were fired for arresting innocent people, while others had past criminal records, he said.

Investigators are using information gathered within the ministry to probe political leaders and members of parliament, something not previously done, Hanoon said. Prime Minister Nouri al-Maliki has vowed to pursue criminal charges against political figures — including members of parliament — linked to extremist groups.

The cases of human rights abuse were detailed in a 250-page annual report that will be released this week, Akeel Saeel, the Interior Ministry's inspector general, said in an interview.

The four policemen allegedly involved in the Site 4 case were arrested and handed over to Iraq's criminal court system, Saeel said.

"Under Saddam, investigators had this ideology. Torturing was routine," Saeel said. "I do feel we're having an impact, but it takes time, step by step."

U.S. military advisers are working to better screen and train police, including requiring 15 to 20 hours of human rights training for recruits, said Lt. Col. Pablo Hernandez, a spokesman with the U.S. military unit responsible for training Iraqi police.

"If you look at what they had in the past and the product they're putting out today, it's a lot better," Hernandez said.

Iraq ousts 10,000 in security ministry - USATODAY.com

Its about time, but that is only the tip of the iceberg, but again its a good start.
Leann

Iran says ready to talk over nuclear issue without preconditions



Iranian Foreign Ministry spokesman Mohammad-Ali Hosseini said on Sunday that Iran was ready to hold talks with five UN Security Council members plus Germany on its nuclear issue with no preconditions.

Hosseini made the remarks when answering a question at his weekly press conference on whether an upcoming security meeting in Baghdad would open doors to negotiations, the official IRNA news agency reported.

"The venue is not the question that we lay emphasis on Baghdad meeting," he said, adding that "we are ready to negotiate with ... the permanent members of the UN Security Council including China, Russia, France, Britain, the U.S. plus Germany without any preconditions."

Iraq will host neighboring countries and other world powers on March 10 for a meeting meant to enlist support for Iraqi government efforts at stabilizing the country.

In response to a question on whether he had any recommendations to the Monday meeting of the International Atomic Energy Agency's Board of Governors, the spokesman said, "The solution to this case is negotiations and anything else will make the case more complicated."

A senior U.S. official said in Washington on Saturday that major powers failed to settle all their differences over a second UN sanctions resolution against Iran for its nuclear activities.

"There is still some work to be done on a few outstanding issues, but all parties remain committed to a second resolution in the near future," State Department spokesman Kurtis Cooper said in a statement after U.S. Undersecretary of State Nicholas Burns and his counterparts from China, Russia, France, Britain and Germany held discussions by phone.

"They had a good discussion in keeping with the positive atmosphere of their conversations" in recent days, Cooper said.

The six countries have been negotiating over a new Security Council resolution that will exert more diplomatic pressure on Iran's nuclear program.

The UN Security Council passed a resolution on Dec. 23, 2006 demanding that Iran suspend uranium enrichment in 60 days. However, Iran has failed to do so and claimed its nuclear program is for civilian purposes only.

The United States has accused Iran of trying to develop nuclear weapons under the cover of a civilian program, a charge that Iran has denied.

People's Daily Online -- Iran says ready to talk over nuclear issue without preconditions


Sorry Neno, I was unable to find the Iranian forum but the meeting is in Baghdad, please move it if you like.
I think this article is worthy of everyone reading it, it says to me that we may have persuaded Iran into thinking differently about their nuke program. At least they are showing a willingness to discuss it. Thanks

Lewscrew

The 876 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 3/ 5 so the results were as follows :

Details Notes
Number of banks 13 -----
Auction price selling dinar / US $ 1279 -----
Auction price buying dinar / US $ 1277 -----
Amount sold at auction price (US $) 35.555.000 -----
Amount purchased at Auction price (US $) 4.000.000
Total offers for buying (US $) 35.555.000 -----
Total offers for selling (US $) 4.000.000 -----

D.G. of Investments

Daily price Bulletin buying and selling Sunday 2007/3/4

Currency Currency Code Selling Price In IQD Buying Price In IQD

US Dollar USD 1280.000 1279.360

European Euro EUR 1687.296 1686.452

British Pound GBP 2490.624 2489.379

Canadian Dollar CAD 1089.176 1088.632

Swiss Franc CHF 1051.507 1050.982

Swedish Krona SEK 181.800 181.709

Norwegian Kroner NOK 207.769 207.665

Danish Krone DKK 226.609 226.496

Japanese Yen JPY 10.957 10.952

Originally Posted by Raditz

The 876 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 3/ 5 so the results were as follows :

Details Notes
Number of banks 13 -----
Auction price selling dinar / US $ 1279 -----
Auction price buying dinar / US $ 1277 -----
Amount sold at auction price (US $) 35.555.000 -----
Amount purchased at Auction price (US $) 4.000.000
Total offers for buying (US $) 35.555.000 -----
Total offers for selling (US $) 4.000.000 -----

hmm ...........

Originally Posted by Raditz

The 876 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 3/ 5 so the results were as follows :

Details Notes
Number of banks 13 -----
Auction price selling dinar / US $ 1279 -----
Auction price buying dinar / US $ 1277 -----
Amount sold at auction price (US $) 35.555.000 -----
Amount purchased at Auction price (US $) 4.000.000
Total offers for buying (US $) 35.555.000 -----
Total offers for selling (US $) 4.000.000 -----

35.555.000 is the lowest amount taken out of circulation since 12th of February. What we should be looking at is the next coming auctions, if the amount continues to go down or not. If it goes down, then the CBI are starting to be happy with the amount they have taken out, and with over 6 trillion, it is a possibility!

Time will tell!

Global economic integration is enough for activating the Iraqi banking sector performance
05.03.07
Hilal war

Before delving into the topic above must know what the global integration? Here we mean by allowing the financial institutions and foreign bank to invest in Iraqi banking market one hand and encourage the work of local financial institutions in the Iraqi banking market, on the other hand.

We must recognize the fact that the process of global integration are the advantages and disadvantages and benefits of this approach is to make the savings. local and international financial institutions at its disposal, which means an increase bank liquidity because the benefits in the medium term than disadvantages Cunha will contribute to the rehabilitation of the Iraqi banking sector and make it in the category of international banks because of the banking and financial systems in the developed economies took about liberation destruction of its operations in response to the policy of openness and international financial hand and deepen the benefit of modern banking technology and new mechanisms which pay banking market dealing with the Iraqi same manner thereby increasing the possibility of private Iraqi banking.

As the state administration law in Iraq is moving to a market economy Therefore, the issue of economic openness is an important issue in the Financial and banking it maintains towards integration with international banks.

However, in spite of the benefits mentioned above must recognize the existence of some of the challenges that may pose risks to the market Iraqi banking including :

One low-efficiency of the Iraqi banking institutions for the following reasons :
A - they are still working in traditional ways of Iraq.
B-weak staffing in the banking, where most believe, in spite of long experience in the banking, but they do not know modern technology in banking operations.
2 - The presence of great ignorance of the Iraqi citizen, the question of investment in the banking and financial terms that the majority felt that this investment beset many risks therefore unseen fears of such investments.
Therefore, the Iraqi government should do the following with respect to the banking and financial sector Iraqi :

First : training of personnel in the Iraqi banking abroad tech modern banking and directed this well would raise the efficiency of banking in Iraq.
Second : integration gradually, not rapidly in the international banking market for fear that the accelerated integration leaves a significant impact in the work Iraqi financial institutions therefore requires a gradual integration so as to give an opportunity for the private sector to develop the banking staffing and mechanism of action.

Third : raising the confidence of the Iraqi citizens and investors to invest in the banking market and the more the Iraqi development with the possibility of increasing international integration so that merger comes here is an incentive for the private sector to the development of its banking system and increase the competitive strength him.

In the event that doing so it would increase the role of Iraqi banks, Rafidain Bank, especially abroad in the exercise of lending in key to become an important source of international funding, which will make it the expansion of its branches affiliates abroad after to become a high capacity to compete through the use of modern machinery and tools developed to attract local deposits and then control of part of the capital and then the real flow of these funds towards the international lending market to take the path towards multi-national funding, which is not away on the Bank ancient Kalravedin if it is available to those willing and able as it is the case in many international banks that have been able to prove their worth and feed their competitiveness of local banks and redistribution on investments foreign.

ÌÑíÏÉ ÇáÕÈÇÍ - ÇáÇäÏãÇÌ ÇáÚÇáãí ßÝíá ÈÊÝÚíá ÃÏÇÁ ÇáÞØÇÚ ÇáãÕÑÝí ÇáÚÑÇÞí