Thread: Archive News - Iraqi Dinar Think Tank - 28/03/10 - 21/06/10

Association of Banks surprised the position of financial obligations to private banks and to convene a joint session

The Director of the Association of Iraqi banks, on Friday, surprisingly, the banking community of the statement of the Financial Inspection Office and the Finance Ministry to Iraqi banks, considering the performance of the Iraqi banking system reached an advanced stage, calling for a joint meeting to clarify the situation.

Abdul Aziz al-Hassoun told (Voices of Iraq) that "the Iraqi Association of Banks announced surprise of the intransigent attitude of the Financial Inspection Office and the Ministry of Finance to the banks, Iraqi she was involved in transfers of cash out of Iraq more than import it into the home."

He said Hassoun that the position of to the Iraqi banks "inaccurate is tantamount to interference is incorrect, especially since there are two authorities; one financial and other cash," adding that such intervention "would have severe effects on the Iraqi banking system private, who arrived performed at an advanced stage after rising capital of banks."

The Undersecretary of the Minister of Finance Fadel Prophet said in a press statement late last month that the ministry decided to put controls more emphasis on the private banks because they did not lead role in the economic activity in Iraq, was announced BSA does not match the data from the central and concerning the process of checking financial flows that it makes in foreign remittances daily with the corresponding imports, saying that private banks and central cell responsible for the audit.
And take Hassoun that "the central bank is working for a positive way through the exchange of transactions with foreign banks and invest the most generously in the development and upgrading of software and information technology to link its branches through the contacts," and that's "easier to perform banking transactions as the number of branches to more than 600 branch".

Hassoun called on "to a joint session of the edges of the Ministry of Finance and the Central Bank and private banks to illustrate both positive and negative aspects in this regard."

The Association of Iraqi banks issued a statement indicated through the assessment of the Iraqi Central Bank which is the sector in charge of supervising the performance of private banks, which was issued in accordance with international standards (CAMELS) is an indicator of a real measuring the level of performance to be adopted by all circles of the global financial, noting the results of the evaluation to obtain Nine banks to a very good degree and 13 degree bank on a good banks out of 27 respondents said evaluation by the Department of Audit on the ground in the Central Bank of Iraq.

http://ar.aswataliraq.info/?p=215385

Iraq Directory Trade issued trading

Ministry of Commerce issued "Guide Iraq's trade in 2010," which is one of the "media projects for the marketing of the economic," according to E.xecutive Director of the project.

Jamal al-Fayad told (Voices of Iraq) that the evidence is "a media project for the marketing of the economic highlights certain aspects of reality investment and economic in the country and the world knows it," adding that "includes three chapters include the first introductions tariff Iraq's past, present and future."

He added that the Chapter II "included the texts of laws, regulations and directives in force and the organization of commercial activity in Iraq and the Kurdistan region," noting that their investment laws, "the powerful in Iraq and the region, consumer protection, customs, as well as the definition of the Chambers and the companies affiliated to the Ministry of Commerce and the mechanisms adopted to establish domestic and foreign companies and registered and organization of work in Iraq."

He said the Chapter III ", which included tariff pages with major companies operating in the Iraqi market or willing to deal with it", pointing out that the company is e.xecuting the Guide "will be published and distributed locally, regionally and internationally, including covering the needs of chambers of commerce and economic institutions relevant."

http://ar.aswataliraq.info/?p=215528

Undersecretary of the Ministry of Oil: optimistic export oil to Turkish ports

Undersecretary of the Ministry of Oil, Unknown Akram, said that the export of Iraqi oil to Turkish ports across the territory of Kurdistan, in the best interest of Iraq and the region, adding "We are optimistic about the resumption of oil shipments to the Turkish ports.

He said Akram was quoted on the Middle East Saudi Arabia issued on Saturday, "The export of oil through the territory of Kurdistan to the Turkish ports in the best interest of both Iraq and the Kurdistan Region, we are not two separate countries, and revenues will revert to the Iraqi treasury, which will benefit the region as well," he said, adding "I think that the technical problems that must be avoided in regard to the use of our oil is not the biggest political problems, so we are optimistic about the resumption of exports."

He Akram said: "We will focus in our discussions with the Government of the Territory to examine all matters relating to the export process, including the rights of companies and the revenue distribution and estimation of quantities and so the requirements of the export process."

He said Undersecretary of the Ministry of Oil that the upcoming meeting on Sunday, between the delegation of the Ministry of Oil and the President of the Kurdistan Regional Government, Barham Salih, "will focus on discussing ways to start the export of oil from wells Kurdistan abroad by linking lines of Iraq via Turkey," adding, "We hope through these talks We want it to be frank and fruitful, to pave the oil to resolve the dispute between Erbil and Baghdad."

And the undersecretary of the ministry "The visit of the delegation Oil Irbil comes in response to the invitation of the President the Kurdistan Regional Government by a few weeks ago in the form of a proposal for the Iraqi government, expressing his government's readiness to resume oil exports, and talk about the export and the details of the financial returns."

http://ar.aswataliraq.info/?p=215552

Shahristani calls for ministries to facilitate the work of international oil companies in Iraq

Oil Minister Hussain al-Shahristani, Monday, Iraqi ministries and institutions to facilitate the work of international oil companies operating in Iraq to reach the ministry's plan during the next six years, which he said it would raise Iraq's production capacity to ten million barrels a day.

Shahristani said at a press conference at the ministry's headquarters in Baghdad and attended by agency (Voices of Iraq) that "The Oil Ministry has a plan to raise oil production to more than ten million barrels per day over the next six years."

And al-Shahristani said "The experience of Iraq's development of oil fields by international companies a new experience," and expressed his belief that "these enterprises face some obstacles in its work through the development of oil fields of Iraq."

The Minister of Oil, "The ministry called on representatives of international oil companies to the conference to find out the most prominent problems and provide an opportunity for the ministry to find solutions to them in advance quickly."

For his part, spokesman Assem Jihad, Oil Ministry held a conference to facilitate the work of international oil companies operating in Iraq, the first of its kind for public relations officials in the oil companies and the Iraqi ministries.

The Jihad told (Voices of Iraq) that "the aim of the conference is to develop mechanisms for the development of such companies," pointing out that "these mechanisms are very important, especially as the Ministry looks forward to moving forward with establishing a proper basis for public administration for the oil sector."

Jihad and the "The conclusion of the Oil Ministry contracts with oil companies worldwide, including requests to the Ministries of Interior and transportation to facilitate the tasks of these companies through its work in Iraq by bypassing the government bureaucracy."

The Iraqi government has signed through the ministry of oil contracts with international oil companies to develop some fields within the two rounds of licensing the first and second, the hope of reaching in the production of at least 11 million barrels per day within the next six years, and 12 million barrels per day after you add the quantities produced from other fields of national effort.

http://ar.aswataliraq.info/?p=216119

Barham Salih, the Russian ambassador to discuss with the investment activities in the Kurdistan region

Head of Government search Kurdistan, Barham Saleh, on Monday, with the Russian ambassador to Baghdad, the bilateral relations between the two countries in political and commercial spheres and ways of development and investment activities in the region, according to a statement to the presidency of the Kurdistan Regional Government.

In a statement received by agency (Voices of Iraq) a copy of the valid "received today (Monday) in Erbil, the Russian ambassador to Iraq, Valerie Hovaev and the Russian Consul-General in the Kurdistan Region Gakiv Kreif," adding that the benefit described during the meeting, relations between the Kurdistan Region, Russia b "task".

He said that "Russia can play an important role in Iraq and the Kurdistan Region, especially in the political and commercial".

The statement indicated that the two sides "discussed bilateral relations and ways of developing the service of common interests, as well as discuss the political situation on both the Iraqi and Kurdistan."

For his part, praised Russia's ambassador to Iraq, according to the statement, "the developments in the Kurdistan region and the security situation Almsttbp and commercial activities and investment in it," and also "thanked the Government of the Region for providing the facilities necessary for the opening of the Russian Consulate in the provincial capital," explaining that "the work the main Russian consulate is to build political and commercial relations with a strong Kurdistan."

http://ar.aswataliraq.info/?p=216187

Basra Investment grant leave for the trade with Iran

Deputy Chairman of Investment Authority Basra, on Tuesday, the granting of the license for the exchange of investment business in the Shalamjah near the Iranian border.

Said Jalal Tima Nouri told (Voices of Iraq) that the Investment Commission Basra, "granted a vacation investment project submitted by a local company includes the construction area of trade near the port Shalamjah border with Iran," noting that the value of the project "amounting to 16.2 million dollars and will be for investment for a period of 25 years."

He explained that the project "will be built on an area of 35 dunums in the Shalamjah area at the Iranian border and contains a number of the buildings of the administration and laboratory fields with quality control and building currency exchange and ATM, and offices for the director Alkmarki as well as prevent other facilities."

He noted that "work on a project to establish free trade with Iran will continue a period of 18 months."

The town of Basra, Basra province, 590 km south of the capital Baghdad.

http://ar.aswataliraq.info/?p=216340

Cabinet approves the establishment of the center oil company with a capital of 100 billion dinars

The Cabinet approved, on Tuesday, the proposal of the Ministry of Oil and establish an oil center, and a capital of 100 billion dinars (84.7 million dollars), according to official government spokesman.

Said Ali al-Dabbagh said in a statement issued by his office and received agency (Voices of Iraq) a copy of it, the cabinet agreed on Tuesday at its 15, "the request of the Ministry of Oil to establish oil company, the center (public company) with a capital of (100) billion dinars based on the the provisions of Article (3) of the Companies Law No. (22) for the year 1997, as amended."

It consists of Iraqi oil companies from a range of state-owned companies, which was established after the decision, mostly oil nationalization years 1972-1973, the most prominent oil companies North and South Oil, as well as the National Foundation for Marketing Oil (SOMO) the competent marketing of Iraqi oil.

http://ar.aswataliraq.info/?p=216391

Council of Ministers authorized the Minister of Finance to discuss investment balance of the loan, it would

authorized the Council of Ministers, on Tuesday, Finance Minister Baqir al-Zubaidi discuss the subject of investing the remaining amount of the loan amount of Japanese and 220 million dollars with the Japanese Ambassador, to identify projects that could be covered in the amount mentioned.

He said government spokesman Ali al-Dabbagh said in a statement received by agency (Voices of Iraq) a copy of Tuesday, the cabinet decided at its 15 approval to authorize the Finance Minister Baqir Jabr Al-Zubaidi "to discuss the subject of investing the remaining amount of the loan, the Japanese and of amount of 220 million dollars with Japanese Ambassador to identify projects that could be covered in the amount mentioned."

The statement added that the Council of Ministers approved the "Draft Law on the Ratification letters, the exchange of notes and minutes of talks on a loan of Japan to the Republic of Iraq signed in Baghdad on 21.2.2010 and forwarded to the House of Representatives based on the provisions of Articles (61 / item first, and 80 / item II) of the constitution."

The Japanese government has provided soft loans to Iraq, worth 3.5 billion dollars, the Government has implemented the rehabilitation fertilizer plant at Khor Al-Zubair, and reconstruction of facilities to export crude oil and the development of engineering services for the refinery in Basra, a rehabilitation project of the electricity sector, and rehabilitation of the port sector, the irrigation sector, the rehabilitation station Electricity Musayyib Bridge, Samawah, the construction of several ways.

http://ar.aswataliraq.info/?p=216423

Talabani discusses with Chalabi form the next government and the nomination of Prime Minister

President Jalal Talabani discussed, Tuesday, with the National Alliance leader Ahmed Chalabi, the political discussions on forming the next government and nominate a prime minister, according to a presidential statement.

In a statement received by agency (Voices of Iraq) a copy of it, that Talabani "search his residence in Baghdad, this afternoon (Tuesday), with the leader of the Iraqi National Coalition, Ahmed Chalabi, the developments in political and security situation in Iraq," noting that the meeting "to ensure discuss developments in the political process."

He added that the two sides, "urged the ongoing discussions between the political blocs to form the next government and the nomination of the Prime Minister, and the emphasis on the need to remove obstacles and to intensify efforts in order to speed access to the political agreement between the parties."

http://ar.aswataliraq.info/?p=216456

Jaafari discuss with the Japanese ambassador in Baghdad the future of the Iraqi political process

Search National Reform Movement's chairman Ibrahim al-Jaafari, on Tuesday, with Japanese Ambassador to Iraq, the future of the political process in the country, according to a statement from Jaafari's office.

In a statement received by agency (Voices of Iraq) a copy of that Jaafari "Search today (Tuesday) with the Japanese ambassador in Iraq, Shoji ridden for the future of the political process", stressing that the next government will be built "on the basis of national partnership between the blocks of winning the election to reflect collectively all spectra of the Iraqi people."

The Chairman of the Reform Movement to the next government, "before many of the important issues and highlighted the low level of services and level of security and coordination between the Presidency and the Cabinet and Parliament", in addition to "build good relations with neighboring countries and open the door of investment and support the economy."

Jaafari praised, according to the statement, "the role played by Japan in support of Iraq and looking to take advantage of their expertise in particular that they have an experience in the province of Muthanna after 2003."

The statement added that the Japanese ambassador ridden Shoji said that Japan "looks forward to the security and stability of Iraq and sought Japanese companies to invest and reconstruction, supporting the Iraqi people."

http://ar.aswataliraq.info/?p=216460