Thread: Iraq/Dinar News until 5/23/07 Midnight CST

MP Fried Raundozi :

The constitutional amendments submitted a working paper and one in the coming days

Baghdad-Sabah.
Member of the House of Representatives from the Kurdistan Alliance Fried Raundozi member of the Constitutional Commission that the Commission will provide all proposals and amendments to be agreed upon by all political parties to the Chamber of Deputies in time within a single package

The added Raundozi : that the Committee is a mini-committee include everyone and study the proposals and to the other members could be involved in this committee and express their views. He Raundozi : The Commission on the amendment of the constitution will continue to meet intensively to achieve all the demands of the parties with regard to the amendments, which will occur on the Iraqi Constitution, especially those matters that were the subject of controversy and differences, but it did not have deep differences, but only the difference in views regarding federalism. He added Raundozi : the Committee had agreed on the question of personal status law and federalism start and used the political system with any member of the Constitutional Review Commission and the parliamentary blocs, but there
Some of the issues on the mechanisms of implementation and application of federalism will enable the Commission within several days of this month to submit all the amendments as a single presidency of the Iraqi parliament.

Translated version of http://www.alsabaah.com/

MP Nassar Al-Rubaie :

Bloc attacks, the Iraqi government has placed the first step in the right direction

Baghdad-worthless cream
A member of the Chamber of Deputies President Nassar spring bloc Chest : that the political process is witnessing a lot of variables but it is not new on the Iraqi arena.
Al-Rubaie added :

The presence of occupation forces in Iraq have made the situation unstable and proof of this is that the plan to impose law was in its infancy Iraqi significantly, but in the recent period are moving towards another until we are seeing a difference between the beginning of the plan and beyond.
He pointed out that the spring bloc called House Speaker to be Iraqi security plan to ensure its success but American forces tried to order allows only that the situation retreat to the state of zero.
He added Rabie As for the cabinet reshuffle and the withdrawal of the bloc from the government bloc chest government has placed on the first step in the right direction to build a very modern Iraqi state, and away from quotas.

Translated version of http://www.alsabaah.com/

the aim of expanding the base lending to SMEs

Claim CBE adding secured loans for the exclusion clause

Baghdad morning
The President asked the governing body for the Iraqi bank guarantees Mr. Wadee Alhandal Iraqi Central Bank by adding amounts of loans guaranteed by the Iraqi company for bank guarantees for the exceptions and on the Basis for the calculation of allocations so that these facilities direct good only for the purposes of calculating the allowance year. He said that this could encourage banks to lend The process of expanding lending to SMEs

He added Alhandal, this requirement has clearly expressed by all Iraqi banks that participated in the Iraqi banking work, which was held in the Jordanian capital in (4, 5) a month last April had agreed on all these banks that can build private sector without providing an opportunity for SMEs to obtain the sources of financial support of granting loans have to be able to expand and grow. He said that the Iraqi company for bank guarantees has newly established to guarantee loans amounted to four hundred and ninety thousand dollars covering several provinces and the productivity of different sectors also stated that the fight against unemployment can be achieved without the empowerment of these SMEs access to formal sources of finance. He added : there are interdependent and must achieve all of them is the need for the exemption secured loans from the General Allocation imposed by the Central Bank of Iraq, as is the case in Jordan, Egypt, Lebanon and the second to the need to expand the Security In this regard Alhandal pointed out that the company had signed with a donor a grant of five million dollars within a set of controls and conditions which aims to strengthen the infrastructure of the company. He added Alhandal that there is a tendency to transform the company into a public shareholding company, but within the framework aims to increase the role of banks and financial companies in contributing to this company. He stressed that Alhandal course of the reconstruction of Iraq must do not remain a slogan on paper and must be translated into effective participation of all the partners, including the Iraqi Central Bank also warned of underestimating the importance of small and medium-sized companies which he said would constitute more than 96% of total private companies and has a great capacity to absorb the manpower, which is inoperative until now. He explained that the company had studied the field on market demand for lending to SMEs and that the study showed that the volume of demand for secured loans is very high and that the exclusion of secured loans from the General Allocation will stimulate these banks to cooperate with the size of this demand. Finally, he said that the Iraqi company for bail banking has come to represent the parasol that encompass (12) special Iraqi banks and thus represent the interests of the private banking sector.
Therefore, the company opened the door to dialogue with the Central Bank had become a postponement is unlikely, but we are confident that the Iraqi Central Bank is aware of the difficulty of the current stage and will interact with these facts.

Translated version of http://www.alsabaah.com/

Announcement No.(924)

D.G. of Foreign Exchange Control

The 924 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/5/15 so the results were as follows :

Details Notes
Number of banks 12 -----
Auction price selling dinar / US $ 1261 -----
Auction price buying dinar / US $ 1259 -----
Amount sold at auction price (US $) 52.135.000 -----
Amount purchased at Auction price (US $) 2.000.000
Total offers for buying (US $) 52.135.000 -----
Total offers for selling (US $) 2.000.000 -----

Best to all . . . RR . . .

Sorry if posted before . . . The info below came from OldSkier / elsewhere . . . No date or link was given . . . has anyone seen this before?? . . . If true/& recent, sounds pretty good . . .

Found the link [ I think ] as follows . . . http://66.249.91.104/translate_c?hl=...aspx%3Fid%3D75 . . .
It's a record of meeting with shabibi from Jan., 2007 / a bit old, . . . but still good!! ] . . .


Mr. Sinan Shabibi (Governor of the Central Bank of Iraq):

I am very happy to stand before representatives of the people and put them out of economic ideas with regard to balancing the relationship or the Central Bank.

After the budget was briefed them is undoubtedly ambitious and the large volume of investment, and development process will be a lot of changes in the basic infrastructure in the area of production, and this is the kind of economic instability, technically, the Central Bank is the primary work to achieve development in a stable environment that is aimed at achieving economic stability in spite of all the disruptions caused by the process of economic development.

The Bank is the central institution interested in achieving economic stability and development through economic stability.

Please be clear that the Bank Central is not the Ministry of Finance or the Ministry of Planning, is an unfinished developmental and then there is some kind of consensus that the Bank Central and interested by all means and policies to achieve Alastaqraralaguetassadi Israel and the moderate price category and be moderate and low inflation, our truth balancing First maintain real resources of the budget, as well as inflation which we live must be fought and reduced in order to have the budget resources have value and we have a lot of measures including raising the exchange rate of the Iraqi DINAR (IQD) after many discussions in the Ministry of Finance and other economists, but the decision is the decision of the Central Bank of Iraq.

And raising the price of the Iraqi DINAR (IQD) impact on the budget without a doubt, affect the purchasing power of the government of Iraqi DINAR (IQD)s because we also produce good name DINAR (IQD) When the government comes to its supplier dollar comes to the Iraqi Central Bank to meet disbursement procedure, which is essentially Iraqi DINAR (IQD)s, but when inflation reduces the purchasing Their capability and the ability revenues the truth will increase and exchange rate policy will, in fact, neutral to a certain extent, of course, this policy essentially makes DINAR (IQD) is the storehouse of value in this case there will be confidence in Iraqi DINAR (IQD)s antibody Badjarh people and withdraw kind of liquidity go to the banks in order not to contribute to inflation, such as, in fact, reduce the government's ability to buy Iraqi DINAR (IQD) lead to rationalize government expenditure, and will provide individuals and will have a positive impact on inflation.

The other thing is, in fact, lead to a reduction in import prices. Import, which is the dollar will not be affected, but the import of the private sector, which relies on imports convert dollars to the DINAR (IQD) will cost less and in fact this important developmental key to that when we try to implement development projects in the budget will have input in the implementation of investment projects and many requirements, many of which are imported When The government is implementing these projects and importing these necessities imported Bassarastiradi less because of the high rate of the Iraqi DINAR (IQD), this is our budget any government would be its ability to buy Iraqi DINAR (IQD) less, but the purchasing power of the DINAR (IQD) will be the biggest on the one hand, and on the other there will be a means coffers of the citizens, We do not work in a national goal but also impact on the dollar in the economy lifting When citizens accept the Iraqi DINAR (IQD) and therefore will be a CBE large, we want to make a way to minimize the impact on monetary policy by which make DINAR (IQD) store of value.

Best to all . . . RR . . .

الجديدIntegrity : participate in a new Public Contracts Act


.The public integrity participated in a workshop held in the Jordanian capital of Amman, with the central ministerial committee consisting of a number of ministries, including (the public integrity and the State Consultative Council and the Office of the Deputy Prime Minister in addition to other ministries) to prepare a draft law (public contracts) under the new World Bank to discuss with the expert consultant in the area of contracts.
له.The representative of the public integrity need to speed up the completion of the draft law at the earliest because of its significant impact in reducing administrative and financial corruption was rampant especially in the area of public contracts which are broader field him.
لها.The price representative of the World Bank attention Judge Radi Hamza Radi, head of the public integrity and follow-up of the work of the ministerial committee and the central support
http://64.233.179.104/translate_c?hl.../nhr0515g.html

Raghib Bleibel said Reza President of the Federation of Iraqi businessmen that a delegation representing the Russian had met Prime Minister Nuri al-Maliki in Sharm el-Sheikh, during the delegation's participation in the International Conference on Iraq, where he was talking about the role that should be played by the private sector in the economic life of Iraq, and the growing contribution in promoting the transition towards a market economy and had promised Mr. Maliki that will be taken into account factors supporting the participation of the private sector in the current and future developments, particularly in the revitalization and reconstruction operations and the activation of reconstruction and development.

.Raghib Bleibel, added in a statement to "file Press," saying that the Russian delegation held several meetings with officials in Sharm el-Sheikh, and especially Dr. Barham Salih Deputy Prime Minister in which he renewed his support for an independent orientations of the Union and the private sector generally, in addition to meetings with the Ministers of Finance and Foreign Affairs and the Governor of the Central Bank, and Foreign Ministry Undersecretary for Political Planning and bilateral relations, and other officials.

و .And it should be noted that the Federation of Iraqi businessmen provided a summary of a paper to the International Covenant, and was considered an official document of the conference, where we will spotlight in the future
المالكي يؤكد دعمه للقطاع الخاص وتعزيز مشاركته Ù�ÙŠ الØ*ياة الاقتصادية

Iraqi Oil Marketing Organization lifted the price of Basra light crude oil for June shipments

.Luna / May 15 / Basra / The informed source in the Iraqi Oil Marketing Organization government of the Iraqi National News Agency "Luna" it decided to raise the price of crude oil production of Basra Light shipments June Algoldm source to the Asian markets to the rate of oil price Khami Oman and Dubai with discount R. 2 10 dollars per barrel.

.This increases the price to dealers in Asia increased by 25 cents than it was in May shipments. / / Ended / p u / u p / economic.

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Number of banks 12 -----
Auction price selling dinar / US $ 1261 -----
Auction price buying dinar / US $ 1259 -----
Amount sold at auction price (US $) 52.135.000 -----
Amount purchased at Auction price (US $) 2.000.000
Total offers for buying (US $) 52.135.000 -----
Total offers for selling (US $) 2.000.000

Gooooooooooooooood Morning Rolclub


"The More They Take, The More We Make"
"Stay the Course, its the difference between Winners and whiners"


10.22 Trillion taken out and still the Party has not started


1. "0" Dinar rate change today, it was 1262, it is now 1261

2. A (net) worth of dinars, IQD - 63,220,235,000 pulled out of circulation today 5/15/07.

3. 12 banks participating today

4. 143rd auction since the beginning of CBI's reval plan

5. 227 days into the CBI's reval plan. (Seven Months +)

6. 10,226,759,573,000 dinars pulled from circulation !!

6A. Conservative ESTIMATE of Dinars still in circulation or controlled by the CBI 6,773,240,427,000

7. "2,518,000,000" Dinars back into circulation today

8. 216 dinar change since Oct 1st (baseline was 1477) 14.624% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 2 point reduction in the rate so far this week. Was at 1263 at the end of last week, 1261 so far this week.

10. 8 point drop in the month of May. Ended at 1269 in April, now stands at 1261
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.
In April we saw a .3142% drop in the rate

Originally Posted by Offshore-Wealth.com

Good point,

You can't please everyone, but more than a few asked for it to be closed, and it was obviously a vulgar violation, so we try to follow TOS the best we can under the circumstances. No problem if vulgar words are eliminated, but when this many people complain, we have to do what we feel is best for all.

Good luck and health to all, MIke

I agree that should have been deleted, and thanks for that!!! I just didn't think he/she should be banned.

How's the dinar today???