Thread: Iraq/Dinar News. 09/05 to 01/14/07

I'm sorry if this has already been posted

Hawkamah's first MENA conference issues Dubai Declaration on Corporate Governance

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29 November 2006 (AME Info FZ LLC)
Policy makers, regulators, representatives from regional and international organisations, and business leaders from across the Middle East and North Africa (representing countries of Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine National Authority, Qatar, Saudi Arabia, Yemen and the UAE) gathered at the Dubai International Financial Centre (DIFC) to issue the Dubai Declaration on Corporate Governance.

The declaration was agreed upon during the OECD-MENA Working Group session, which was held at the end of the Hawkamah Institute for Corporate Governance conference, as part of DIFC Week. This was a landmark event for the region, entitled 'Corporate Governance in the Middle East and North Africa Conference: Towards Sound and Efficient Financial Markets and Banking Systems'.

The conference was hosted by Hawkamah Institute for Corporate Governance and supported by its regional and international partners: OECD; International Finance Corporation; World Bank Global Corporate Governance Forum; Centre for International Private Enterprise; Union of Arab Banks; ISACA-UAE; INSOL International; Institute for International Finance; Egyptian Banking Institute; Egyptian Institute of Directors; and Financial Services Volunteer Corps, in cooperation with the countries participating in the OECD MENA Investment Programme.

The Working Group was co-chaired by Mr. Rainer Geiger, Deputy Director for Financial and Enterprise Affairs of OECD and Dr.Nasser Saidi, Executive Director of Hawkamah.

Key initiatives which were agreed upon included:


• The creation of two taskforces: one focusing on the corporate governance of banks; and a second focusing on the corporate governance of State-Owned Enterprises (SOEs).

• The issuance of two policy briefs: one for Banks; and a second for SOEs; both to be approved by the relevant taskforces.

• The consideration of issues relating to the corporate governance of Shari'a compliant banks and financial insitutions and the importance of ensuring that regional corporate governance frameworks and standards are in line with international codes & standards, whilst at the same time remaining consistent with Shari'ah rules.

• The preparation of a corporate governance survey of SOEs, to be developed on a consultative basis with the cooperation of key organizations and governments, and to be conducted during the course of 2007.

• The recognition of a need to tackle issues surrounding insolvency and corporate restructuring. The OECD and Hawkamah will work with INSOL and the World Bank and invite Ministries, financial institutions, the judiciary, representatives of OECD countries and other regional and international bodies, to meet to discuss these issues during the first half of 2007. The purpose of this meeting will be to determine the necessary legal and regulatory frameworks relating to corporate restructuring and insolvency and the enforcement of insolvency proceedings. Improved insolvency regimes increase the efficiency and performance of the credit and capital markets, improve the investment climate, and enhance the region's ability to attract investors during times of high economic growth as well as prepare for potential corporate restructuring in the future.
• Hawkamah, the OECD and their partners will increase their work and focus on the corporate governance of family-owned enterprises and small and medium enterprises. A series of workshops and case studies, will address key issues and an action plan will be formulated for establishing corporate governance frameworks relevant to the SMEs and family-owned businesses of the MENA region.

• Hawkamah, the oECD and the MENA CG Working Group will be utilization recently developed codes of corporate governance, (by Lebanon, Saudi Arabia and others) as templates for the development of a harmonised regional CG regime, with workshops to develop and expand these country specific guidelines.

Dr. Nasser Saidi, Executive Director of Hawkamah outlined the successful outcome of the event and the importance of these initiatives: 'This conference, and in particular today's MENA OECD Working Group session, allowed us the opportunity to confer on critical objectives and challenges relating to corporate governance across the MENA region. Whilst there is still a need for raising awareness and capacity building in this field, we have made significant headway in terms of taskforces, policy briefs,addressing corporate governance in Islamic banking and finance, corporate restructuring and insolvency, family-owned enterprises and small and medium enterprises. We now move towards concrete actions and direction resulting from these principles, facilitating the design of a comprehensive roadmap for corporate governance in our region. This will enable us to achieve our ultimate goals of encouraging investment, project finance, job creation and the development of sound financial markets.'
Progress relating to the implementation of the principles outlined in the Dubai Declaration will be reviewed at the next annual conference held by Hawkamah in cooperation with the MENA OECD Working Group on Corporate Governance and its partners.

Hawkamah is a regional entity whose mission is to assist countries and companies of the wider MENA region in developing sound and globally well-integrated corporate governance frameworks and practices. It supports regional and international initiatives to develop open and transparent markets and sound corporate governance regimes.

This may sound a completely tosserish question but....

If nearly all of the 27 banks' stock dinar (as I am sure they need a float of dinar for localised trading) have been sold back to the CBI then how does this affect the distribution of lower the denominations? I understand that the high denom notes need to be taken out of circulation but surely something is replacing them.

I read somewhere that the distribution of the little gift of 10k was a trail run for distributing Fils, think I read this on IIF, not sure. Probably BS as I also heard that it was an annual gift. dunno?

Iraq to present Gas, Oil Fields for Investment | Iraq Updates

Iraq to present Gas, Oil Fields for Investment

29 November 2006 (Al-Sabaah)
Newsy reports mentioned that, oil ministry intended to present gas & oil fields for the foreign investment international companies for increase producing of the crude in the state for the next coming years.

An official in oil ministry said that, the ministry have 520 founded oil and gas fields in different districts of the state, and the ministry prepared a plan to investing big part of it through the coming period, while they investing currently about 20 fields only.He pointed that, developing the founded fields would continue for 5 years, so the ministry lifted the pattern of introducing studies and supplies for investing the promising fields, saying that oil ministry currently investing 20 fields from about 520 one cause of finance shortage and no spare parts availability.

Voices of Iraq: Maliki-Bush
Posted by: nadioshka on Thursday, November 30, 2006 - 09:05 AM
Maliki-BushBush: U.S. to stay in Iraq until mission done, Maliki a strong leader Amman, Nov 30, (VOI) – U.S. President George W. Bush told a joint news conference with Iraqi Prime Minister Nouri al-Maliki in Amman on Thursday that his country would keep its troops in Iraq as long as Maliki's government wanted and praised Maliki as a strong leader.Speaking after a summit with Maliki, Bush said his troops would stay in Iraq until mission is done.He described Maliki as a strong leader and said he has the support of the United States which is ready to help him establish a strong Iraq.Bush told the news conference Maliki told him that any partition of Iraq will only escalate violence and make thongs worse.Makes you wonder how bad their thongs are over there, doesn't it. Sorry, Neno, I couldn't leave it alone. Got up in one of those moods this morning.

Originally Posted by clintstella

This may sound a completely tosserish question but....

If nearly all of the 27 banks' stock dinar (as I am sure they need a float of dinar for localised trading) have been sold back to the CBI then how does this affect the distribution of lower the denominations? I understand that the high denom notes need to be taken out of circulation but surely something is replacing them.

I read somewhere that the distribution of the little gift of 10k was a trail run for distributing Fils, think I read this on IIF, not sure. Probably BS as I also heard that it was an annual gift. dunno?

Matey, the lower denoms IMO are already sitting and waiting in the banks for the big 'OK'.

Originally Posted by Adster

Matey, the lower denoms IMO are already sitting and waiting in the banks for the big 'OK'.

I was hoping you might say that matey.

However, wasn't there a squad of US troops (the squad who assisted the distribution of the 2003 new notes) being trained somewhere in the US to be sent back over? A little vague I know but I read this somewhere a while back.

"Squad" the correct terminology? If not Soz

Originally Posted by clintstella

I was hoping you might say that matey.

However, wasn't there a squad of US troops (the squad who assisted the distribution of the 2003 new notes) being trained somewhere in the US to be sent back over? A little vague I know but I read this somewhere a while back.

"Squad" the correct terminology? If not Soz

Pass, dunno matey, do know about Police Squad with Leslie Nielsen, bout it!!

Originally Posted by boomcreek

Voices of Iraq: Maliki-Bush
Posted by: nadioshka on Thursday, November 30, 2006 - 09:05 AM
Maliki-BushBush: U.S. to stay in Iraq until mission done, Maliki a strong leader Amman, Nov 30, (VOI) – U.S. President George W. Bush told a joint news conference with Iraqi Prime Minister Nouri al-Maliki in Amman on Thursday that his country would keep its troops in Iraq as long as Maliki's government wanted and praised Maliki as a strong leader.Speaking after a summit with Maliki, Bush said his troops would stay in Iraq until mission is done.He described Maliki as a strong leader and said he has the support of the United States which is ready to help him establish a strong Iraq.Bush told the news conference Maliki told him that any partition of Iraq will only escalate violence and make thongs worse.Makes you wonder how bad their thongs are over there, doesn't it. Sorry, Neno, I couldn't leave it alone. Got up in one of those moods this morning.

Now the clues are coming together. I posted this last week. Maybe the thongs are part of the constipation problem??

It is believed Valle insist that the United States is now telling them to leave only concern of the Shiite aside, and trying to reassure Iraq through Iran constipation, but keep away from the clarity of the Bush administration - which insists that Iran should first stop its nuclear program - that they will do so soon.

Originally Posted by snottynose

jola. we have had several discussions about this within the last week or so. looks like a good find to me. was there a date?

I thought it was todays date...

Originally Posted by Adster

Pass, dunno matey, do know about Police Squad with Leslie Nielsen, bout it!!