Thread: Iraq/Dinar News up until March 28th 8PM CT.

Announcement No.(886)

D.G. of Foreign Exchange Control

The 886 daily currency auction was held in the Central Bank of Iraq day Monday 2007/ 3/ 19 so the results were as follows :

Details Notes
Number of banks 16 -----
Auction price selling dinar / US $ 1277 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 88.015.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 88.015.000 -----
Total offers for selling (US $) ----- -----

We knew it would be 1277 today, lets see what tomorrows rate will be!!
I doubt it will be 1277,

The Finance Minister will meet with the American ambassador in Baghdad,
PROBE
(Voice of Iraq) - 19-03-2007


The Republic of Iraq
Council of Ministers-the National Center for Media
Media Relations
Press Release Press release /
Sunday, 3-18-2007

The Finance Minister will meet with the American ambassador in Baghdad, looking for the outcome of the plan to impose the law on the economic situation in Iraq

He met with the Minister of Finance, Mr. Baqir Jabr Al-Zubaydi with the Ambassador of the United States of America in Baghdad, Mr. Dan Spkrt. A review of bilateral relations between the two countries and the prospective plan to impose the law on the economic situation in Iraq and improve the level of services offered to citizens.

The minister said during the review of the Ministry's efforts to create a budget in 2007 and ongoing follow-up with ministries and governorates in order to speed up the implementation of projects, that this budget is the first budget planning for the coming years and that will put the foundation stone for the establishment of projects that reflect the strategic outlook civilized face of the new Iraq, pointing out that the adoption of the oil and gas indicates that this wealth belongs to the Iraqi people, pointing out that the extensive presence of the Deputy Prime Minister Dr. Barham Salih, the Minister of Finance and Planning and a large number of the ministers, governors and officials in the Iraqi ministries and a number of ambassadors to discuss how best to balance investment in 2007 and was distributed as a CD (CD) to all attendees to facilitate the implementation process.

They also expected to meet with Prime Minister Messrs. governors and a number of the Ministers to examine their actions in the implementation of projects.

For his part, Ambassador praised the efforts of the minister in creating the budget and wished him success Shinafiyah and Muwaffaqiyah to serve new democratic Iraq.

Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Electronic exchange on Bourse
19 March 2007 (Iraq Directory)

Taha Ahmed Abdul Salam, Executive Director of the Iraqi bourse, announced the adoption of a new mechanism that “will create a qualitative leap in the development of the bourse and will announce its details shortly”.

He said: “The bourse seeks to adopt a direct broadcast of the exchange proceedings and the movement of the market; therefore, an agreement was made with one of the satellite channels for this purpose, in addition to the registration of participating companies enlisted in the International Agency for Numbering “ANNA”, and setting up investment instructions for the non-Iraqis by a Committee from the Board of Governors”.

He added that: “there are efforts to link the bourse with the intermediaries’ offices directly, in addition to the terminal stations that will be established in the exchange Hall”; pointing out that “the bourse prepared a working paper for implementing a plan for the management of financial settlements by one of the international experts specialized in the bourse affairs, then have a discussion with the Iraqi banks’ managements in a joint meeting with the Governors Board of the bourse”.

Electronic exchange on Bourse | Iraq Updates

USAID sets up Small Business Development Center in Iraq
19.03.07

(MENAFN) An official at the Iraqi government announced that the government is working with the US Agency for International Development (USAID) Izdihar program to establish a Small Business Development Center (SBDC) to develop and encourage small business companies to contribute in stabilizing Iraq's economy, the Iraq Updates reported.

The center aims to provide local businessmen and women as well with the necessary expertise that would provide the best business plans and the way to run a certain business appropriately through several training courses and activities that are based and provided by the knowledge of some centers that have relations with micro finance institutions and banks, he said.

The center has already conducted five-day training sessions on several major topics related to business such as business planning, marketing, cash flow and loan applications. The courses were instructed by trainers graduated from the Training of Trainers program organized by the USAID Izdihar project, he pointed out.

It is worth noting that the USAID has so far supported five Iraqi institutions in many governorates to set up such centers, thus enhance economical development throughout Iraq.

MENAFN - Middle East North Africa . Financial Network News: USAID sets up Small Business Development Center in Iraq

Quite a grim report on life in Baghdad. The report claimed the bombings were as bad as ever and they interviewed a local Iraqi who claimed life was bad. There are no jobs, very little electricity, fuel is expensive and he spends all his time at home with his family. Sad. All he did say positively was the troops need to stay as it would be a lot worse without them. Whilst IMO news reports are often blown out of proportion and we've read articles stating violence is down the reality of life for their people is depressing beyond belief.

Then they cut to a Kurdistan shopping precinct and how peaceful and buzzing the area is. They have their own flag raised all over the place, their own settled government and even tourism is on the increase.

Originally Posted by goldraker

As we speak, Goldraker is ready! I have a jet in my back yard right now with her engines running. I do think, that it will be now. Or within the next 24 hours! So I have the bags packed, the jet fully fueled. Ready to jetset in the French Riviera!

I wish i shared your enthusiasm today. Maybe tomorrow... if the exchange rate changes i will...

Hi,
Can someone confirm when the the F.I.L. will be enacted and that foreign investers will be able to trade directly on the Iraq Stock Exchange.

Originally Posted by abbey56

Hi,
Can someone confirm when the the F.I.L. will be enacted and that foreign investers will be able to trade directly on the Iraq Stock Exchange.

Go ahead and trade on ISX in april/may

Clients

The Iraq Stock Exchange is open for international investors who desire to contribute to the reconstruction of the Iraqi Economy. New legislation with the purpose of liberalizing the oil-rich Iraqi economy and promoting free market economics stipulates that:

* foreign investor shall be entitled to make foreign investments in Iraq on terms no less favorable than those applicable to an Iraqi investor, unless otherwise provided herein. Ref: Investment Law
* The amount of foreign participation in newly formed or existing business entities in Iraq shall not be limited, unless otherwise expressly provided herein. Ref: Investment Law
* A juridical or natural person foreign or domestic has the right to acquire membership in (all) companies … as a founder, shareholder or partner . Ref: Commercial Company Law

To deal with Aman Financial Services Inc, the investor is required to open an account, for which he is required to fill an Account Opening form.
http://isx-aman.com/

Originally Posted by Adster

Then they cut to a Kurdistan shopping precinct and how peaceful and buzzing the area is. They have their own flag raised all over the place, their own settled government and even tourism is on the increase.

And why they're not screaming for an RV is beyond me.

Hi,

Thanks for that answer Raditz, I can assume then it would be absolutely stupid of them if they dont revalue before this happens, we have discussed on many occasions that if they dont everyone of us could buy as many shares as we wish for peanuts.