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Saturday, September 1, 2012

Heats up debate on the process of deletion of zeros from the currency , 2 SEPT

Heats up debate on the process of deletion of zeros from the currency




02/09/2012 2:02 am 
During a seminar held by the (morning)  BAGHDAD - Haider al-Rubaie Flaih - Hussein Tgb Tamimi  Discuss Economists process of deletion of zeros from the Iraqi currency, and the order of the positives that can be reflected on the overall economic activity in Iraq or cons able to affect the business operation and financial in general, and as Deputy Governor of the Central Bank that the disintegration of the monetary system in the country is vulnerable and clear to the overall political process, board Other specialists participated in the seminar that the process requires timelines testify during the economic reality of Iraq more stability, which otherwise is witnessing now, according to specialists.  The deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh during a seminar organized by the morning yesterday on the process of deletion of zeros from the currency and with it, it's pros or cons related to the overall economic process: that Iraq suffers from enormous power of the monetary mass estimated at 35.3 trillion JD inflation rates caused an increase to dangerous levels, which called for the initiation of change currency and deleting three zeros in order to shrink as it believes in the use of small cash categories.  Pointing out that the deletion will be produced by issuing classes cash small up to 25 fils in order to fill a need transactions small future, stressing that the Iraqi dinar currently covered well and cash value estimated at more than $ 60 billion, a cap could keep the value of the dinar from All economic variables that could face the country.  Saleh was who delivered Mahazerh first at the symposium had answered a number of questions that guide the participants in the same order, as explained during his answers to the financial value of the dinar after the change will maintain its position fully, denying that you get some imbalances in the process transactional to banks and banks with customers who deposited their money before the deletion of zeros.  Despite what was said in favor of the positives can be realized after the deletion, but the president of the Association of private banks Abdul Aziz Hassoun wondered about the feasibility of the change in value of financial standing after the deletion, saying at the same time: what will result from the deletion of zeros, from the comfort of the use of the currency, Will will that rest, economically successful.  In turn expressed an economic expert Dr Akram Abdel Aziz during Mhazertha on the sidelines of the seminar for lack its own absolute in times of time to process the deletion of zeros from the currency, wondering about the impact of the operation in enhancing the value of the currency and whether it will contribute to the positive impact on monetary indicators as well as the guarantee that can Saves the process from corruption.  Abdul Aziz believes that the adoption of a strategy for managing and structuring currency surround require all economic indicators, particularly the effectiveness of the real and service sectors of the economy and what is the percentage of its contribution to the gross domestic product.  She drew Abdul Aziz that enhance the value of the currency can not be achieved implicitly, pointing out that the reasons for this comes because the value of the dinar and the strength derived from the diversification of income sources and increase built sectoral and making them able to produce goods and services, criticizing a growing reliance on the oil sector in supplying the budgets the country's financial and influenced the stability of cash income from foreign currency assets enhanced the value of the currency, as well as that this matter can keep on unilateral export content and increasing import content with a wide range of external borrowing.  And participated in the seminar a number of experts and specialists in economic affairs appeared in many government and private agencies, and will be published an extensive report for the morning seminar in future issues. 
http://bit.ly/N68GAL

MICHIGANDER CHAT, 1 SEPT

michigander0131] 02/09/2012 2:02 am During a seminar held by the (morning) BAGHDAD - Haider al-Rubaie Flaih - Hussein Tgb Tamimi The deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh during a seminar organized by the morning yesterday on the process of deletion of zeros from the currency and with it, it's pros or cons related to the overall economic process: that Iraq suffers from enormous power of the monetary mass estimated at 35.3 trillion JD inflation rates caused an increase to dangerous levels, which called for the initiation of change currency and deleting three zeros in order to shrink as it believes in the use of small cash categories. Pointing out that the deletion will be produced by issuing classes cash small up to 25 fils in order to fill a need transactions small future, stressing that the Iraqi dinar currently covered well and cash value estimated at more than $ 60 billion, a cap could keep the value of the dinar from All economic variables that could face the country. 
[michigander0131] this article explains who seleh from cbi is trying to convince them and goi that inflation is at dangerous levels and the time is right to start the process

[michigander0131] Result of higher housing prices in Iraq .. Inflation reach record levels, with catastrophic economic 30/8/2012 Approved by the Central Bureau of Statistics of the Ministry of Planning, the arrival of inflation base in Iraq to record levels, reaching 140.7 percent registered an increase of 5.9 compared to last year. He said: Annual inflation indicators seen, compared to last year, a clear rise of 5.9 percent, as a result of rising housing prices in different areas of Iraq by 10 percent, Vagahma residential rents increased by 13 percent. And witnessed the sale of real estate and purchased a large increase of 9.6 percent, as recorded rents residential buildings grew by 13.2 per cent. Did not exclude the energy sector, where increased rates rise to 1.1 percent.
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 Michigander0131] 02/09/2012 1:29 am BAGHDAD - morning Hoped to see the next few days, the return of President Jalal Talabani returned home after treatment and convalescence trip in Germany. With the return of the President of the Republic increased hopes near the National Congress in preparation for the settlement of outstanding issues between the political blocs. A political source for "Brief Center for the Iraqi Media Network," that next week will probably meet important for the three presidencies followed weeks later by the National Conference expanded. Iraqi political scene, a lot of bilateral meetings between leaders blocs did not come out of any of them a final agreement between the parties on a mechanism to resolve the problems, after deducting the National Alliance and the reform paper that impressed most of the political forces.

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REVALUATION WARNING , 1 SEPT

[3:25:13 PM] junior: "REVALUATION WARNING COMMENCING WEDNESDAY, SEPTEMBER 5, 2012 AT 12:01 AM (MIDNIGHT)!! THIS IS AN OFFICIAL PLANETDINAR ANNOUNCEMENT REGARDING THE REVALUATION OF THE IRAQI CURRENCY, THE "IQD" OR "NEW IRAQI DINAR" ::::::::::::::::::::::::::::::::::::::::::::::::::::::: THIS ANNOUNCEMENT WILL ADVISE THE READER THAT PLANETDINAR.COM INTEL TEAM JOINTLY WITH DINARIAN.COM INTEL SUPPORT TEAM HAVE DECLARED A "REVALUATION WARNING" :::::::::::::::::::::::::: 

THIS WARNING IS STEP TWO OF A THREE STEP PROCESS ::::::::::::::::::: THE INTENT OF THIS WARNING IS TO ADVISE CITIZENS OF THE PLANET, DINARIANS, AND INTERESTED PARTIES ACROSS THE CHAT-O-SPHERE OR ELSEWHERE IN THE DINARIVERSE THAT CONDITIONS ARE NOW ESCALATED TO "FAVORABLE" FOR A REVALUATION TO INITIALIZE FROM THE MOMENT THIS ANNOUNCEMENT ACTIVATES (WEDNESDAY, SEPTEMBER 5, 2012 AT 12:01 AM) AND GOING FORWARD UNTIL: REVALUATION OCCURS OR THIS WARNING IS IS CANCELLED BY PLANETDINAR.COM. 

A WARNING IS A TIME DURING WHICH "MOST" CONDITIONS ARE FAVORABLE FOR A REVALUATION TO OCCUR AND THAT OCCURANCE CANNOT BE RULED OUT BEYOND A REASONABLE DOUBT. BLAINO HAS AUTHORIZED THIS REVALUATION WARNING TO ALERT CITIZENS TO THE IMPENDING POSSIBILITY OF RAPID MOVEMENT GOING FORWARD AFTER WEDNESDAY, SEPTEMBER 5, 2012 AT 12:01 AM. GOD BLESS YOU AND KEEP YOU AS WE TRANSITION. ALL OUR HOPES AND PRAYERS
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DINAR GURUS UPDATE, 1 SEPT

9-1-2012  Intel Guru Blaino   "REVALUATION WARNING COMMENCING WEDNESDAY, SEPTEMBER 5, 2012 AT 12:01 AM (MIDNIGHT)!! THIS IS AN OFFICIAL...ANNOUNCEMENT REGARDING THE REVALUATION OF THE IRAQI CURRENCY, THE "IQD" OR "NEW IRAQI DINAR".  THIS WARNING IS STEP TWO OF A THREE STEP PROCESS.   A WARNING IS A TIME DURING WHICH "MOST" CONDITIONS ARE FAVORABLE FOR A REVALUATION TO OCCUR AND THAT OCCURANCE CANNOT BE RULED OUT BEYOND A REASONABLE DOUBT.  THIS REVALUATION WARNING [IS] TO ALERT CITIZENS TO THE IMPENDING POSSIBILITY OF RAPID MOVEMENT GOING FORWARD AFTER WEDNESDAY, SEPTEMBER 5, 2012 AT 12:01 AM.

9-1-2012  Intel Guru TerryK   COINS ARE OUT...JUST GOT CALL, BUT THEY ARE NOT ACTIVATED AS OF NOW.  WHAT I WAS JUST TOLD,  THE BANKS HAVE THEM WITH THE INSTRUCTIONS NOT TO RELEASE UNTIL SUNDAY,  BUT TREAT THAT AS RUMOR, AND WE WILL NOT BE ABLE TO DO ANYTHING UNTIL TUESDAY WITH MONDAY BEING A HOLIDAY FOR US.

9-1-2012  Newshound/Intel Guru BGG   Article:  "KRG is ready to negotiate on the dispute over the oil law/POLITICS".  The KRG [Kurdistan Region] and the Central Government advertising they are close to a deal on the HCL/140 issue is huge news. Whether it has been done for a while or they are just getting close now – matters not, they are talking about it openly.  Big news. This has been dragging on since early in the Bush Administration. The fact that they are handling it on their own and calling it a good thing is an amazing shift in public opinion.

9-1-2012  Intel/Newshound Guru Poppy3   An article came out on the 29th stating that Talabani met with Barzani.  I'm still not convinced this happened.  As of this morning [Friday], he is not on the schedule to come in.  Talabani has never moved about without notifying security.  From a contact in Bagdad, the talk on the street is that they anticipate Talabini would come in next Wednesday or Thursday, he will meet with Barzani and if that goes good, he will call for a National Conference.  All of the crisis will be settled at the National Conference.  Agreements are being made almost daily now, everything is positive and in our favor.  We are headed in the right direction.   Between now and the 18th & 19th, I feel very confident that they will get a lot more accomplished and get this thing finished.   [post 2 of 2]

9-1-2012  Newshound Guru Vic1     the Final signal will be given to BIS from SHABS!!! That is HIS MONEY, THE CBI's! He LENDS that money to the IRAQI Government! He/CBI is in a RELATIONSHIP with the GOI!  The BILATERAL agreement that requires a third party NEUTRAL "ESCROW" TRUSTEE! That is the BIS! Otherwise he, Shab's,  would be held for Insider trading! [What about the VND?]   .15 to .34,  if we get real lucky, .43cents!

9-1-2012  Newshound/Intel Guru BGG    My sources tell me Talabani could show up as early as this weekend and then things could happen very quickly.  I'm excited about this possibility, it's a pretty good likelihood.  Other than an absolute RV, everything is fabulous, great, great news.

9-1-2012  Intel/Newshound Guru Poppy3   The Minister of Commerce is begging & demanding that Iraq become a full member of the WTO.  We know that once they RV they will automatically become a full member.  Shabibi is hosting the International Banking Conference in London on the 18th and 19th.  It sure would be a feather in their cap to be a full member of the WTO in order to attract banks to bring business into Iraq.  If they can RV before that it would make Dr. Shabibi and the Minister of Commerce's jobs a whole lot easier.  This is good news.  [post 1 of 2....stay tuned!!]

9-1-2012  Intel Guru Tony     I don't believe the holdup is all about the banks.  There were fraudulent things going on in the banking system.  We know what was going on in Iran & Syria.  I still think we are there.  We know there were meetings in Parliament, votes taken, things were passed.  Talabani is already back in Iraq, has been back, having meetings.  He met with Barzani on Wednesday.  Coins and lower denoms are in the markets and exchangers to be used after Sept. 1st.  I think we are closer to it, than farther from it.

9-1-2012  Intel Guru American Contractor  The Central Bank of Iraq (CBI) continues to be the subject of investigations by the Iraqi government.  The project of introducing new Iraq currency continues to be suspended by the Iraq government. The New Iraq currency has not been printed. The CBI has not yet been authorized by the Iraqi government.   It appears no conclusion has been determined and distributing the new Iraq currency may commence on or between 2014-2018. This is to coincide with the next upcoming elections in Iraq.  Also, the electronic software systems intended for the banking industry in Iraq have not been implemented. The problem is the lack of training of the software to the banking managers and employees. The training may take up to two years before you see 100% active participationThere will not be any revaluation in the year 2012.  [Oh, my...First Hurricane Isaac, now American Contractor  ; (  ]

9-1-2012  Intel Guru Checkmate  I probably sound like a broken record.  Is the IQD still a good investment?  It's an incredible opportunity, a once in a lifetime opportunity.  Don't give up.

9-1-2012  Newshound Guru Med     I WAS WAITING FOR SOME KIND OF RESPONSE FROM CBI  ON ALL THESE ALLEGATIONS THAT THE STATE OF LAW HAS THROWN OUT AND IT HAPPENED.    IT WAS SIMPLE.  THEY ARE PREPARED TO BASICALLY DEFEND THEMSELVES IN PARLIAMENT. ALL THIS IS STALL TACTICS,  NOT REALLY SURE WHY,  THOUGH I AM SURE IT HAS TO DO WITH CORRUPTION.

BLUWOLF CHAT, 1 SEPT


Bluwolf Chat 9/1/12 3:15 p.m. edt
[Agent 007] Hello bluwolf - good to see you

[bluwolf] Hi hon
[Agent 007] bluwolf hope all is well on the home front

[bluwolf] Yes all is looking good
[Agent 007] great

[bluwolf] We must keep in mind that this thing will surprise us
[Agent 007] bluwolf oh yes I agree
  [bluwolf] And all should be prepared
[
Agent 007] hopefully everyone at GET are as prepared as possible - without    sometimes it is difficult to be prepared as much as we would like to be

[cjswest] i so much like surprises like that , hello bluwolf

[bluwolf] Cj hi nice to see you

[cjswest] you too bluwolf ,

[bluwolf] Please remember that Talibani is the president of Iraq and he is the spokesman of the country all major announcements he announces.

[bluwolf] Well my visit is over

[bluwolf] Just a fly by because I am working today

[Agent 007] wow sorry that you have to work today

[Agent 007] do you have Monday off?

 [bluwolf] Yes dear

[cjswest] bluwolf always good to recieve your fly by info

[Agent 007] that's good

[bluwolf] Yw

[bluwolf] Well gotta go,,bye

[Agent 007] thanks bye

CURRENCY & POLITICAL NEWS, 1 SEPT


9-1-2012 OPEC: Iraq deserves to manage OPEC year {2013} to as the second of Petroleum Exporting Countries and is able to manage.  Saad said in a statement Iraq of the first founders of the Organization of Petroleum Exporting Countries, but it does not occupy any position within the organization, there is no even Iraqi staff where the {2013} should be the share of Iraq management OPEC after Saudi Arabia. OPEC derives its strength from oil-exporting countries and Iraq's second largest oil exporter and has the experts and engineers oilfields highly experienced, and there are oil companies a giant in licensing rounds, which will increase oil production and raise exports annual.  http://www.sotaliraq.com/mobile-news.php?id=69757#ixzz25E0dRlgF

9-1-2012 Health Fair: Attracts Iraqi investors. The GOI, which has vowed to restructure its hospitals as an overall effort to revive its war torn country, has decided to attend the Istanbul Health Expo Fair from Oct. 10 to 13. The Iraqi ministry of health will attend with a 40 person team of buyers. The Iraqi government, which is trying to modernize its country, has set aside a $600 billion budget, $30 billion of which will go towards health sector spending. The Turkish medical sector is therefore eagerly looking for any opportunities that might arise from Iraq’s interest in revamping its hospitals.  http://www.hurriyetdailynews.com/health-fair-attracts-iraqi-investors.aspx?pageID=238&nid=29127&NewsCatID=345

9-1-2012 CBI: Calls for commitment at the exchange rate of the dinar against the dollar. Called the Iraqi Central Bank, traders and industrialists in the private sector to commit to the exchange rate in the bank auction of $ 1189 dinars per dollar. He stressed the importance of documents in archives fundamentalism that prove they import according to international norms, standard credits and remittances documentary and instructions issued by the Central Bank in this regard. The central bank held five daily sessions per week for the sale of foreign currency (U.S. dollar) in an auction devoted to this purpose, involving traders through private banks operating in Iraq.  

9-1-2012 Alwani: Criticized Rep. Iraqi coalition Alwani delayed naming ministers of interior and defense and the continued management Maliki to their bags as well as prime minister in the light of what he described as deteriorating security. How long Iraq remains without the Ministers of defense and interior and why this delay in naming the characters who will carry my bag of Defense and Interior, note that the matter is settled before the formation of the current government as agreed politicians in Erbil to be the defense of the Iraqi Interior of the National Alliance."  http://www.faceiraq.com/inews.php?id=867253

9-1-2012 US Delegation: The U.S. delegation will arrive in Baghdad on Monday. The delegation U.S. will reach Baghdad in the third of this month, without mentioning who will head this delegation. Foreign Minister Zebari and his U.S. counterpart Hillary Clinton discussed recently by telephone to prepare for this visit, a senior U.S. level to Baghdad.  http://www.mustakbal.net/index.php/2012-05-17-17-37-03/2012-05-17-17-38-54/24392-2012-09-01-09-24-56

9-1-2012 WTO: Accession to the WTO is an application of the customs tariff law, which deferred by the Government for the indefinite. Iraq is working on obtaining permanent membership of WTO will complicate the Iraqi economy unless Iraqi economic legislation with controls on accession to WTO. If Iraq wants to join the WTO, should apply the customs tariff act by a broken Government. The tariff will eliminate financial and administrative corruption operations at border crossings and in ports. There is the desire of the Government to enforce the law gradually over two years. Iraq seeks to obtain permanent membership in the World Trade Organization (WTO) rather than as an observer member in the current time.  http://www.aknews.com/ar/aknews/2/324057/

POPPY, DALITE, LORIC, VIC & BGG POSTS, 1 SEPT

9-1-2012 Poppy3: The Minister of Commerce is begging & demanding that Iraq become a full member of the WTO. We know that once they RV they will automatically become a full member. Shabibi is hosting the International Banking Conference in London on the 18th and 19th. It sure would be a feather in their cap to be a full member of the WTO in order to attract banks to bring business into Iraq. If they can RV before that it would make Dr. Shabibi and the Minister of Commerce's jobs a whole lot easier. This is good news. RUMOR BUT FROM A GOOD SOURCE. GOT A REPORTED UPDATE LAST NIGHT THAT TALIBANI WILL COME IN WED, THURS OF NEXT WEEK. He will have private meeting the next day with Barzani and if all goes well in that meeting he will then call for National Meeting within the following week where all issues will be finalized. This will finally complete all things needed for the RV. This is from a friend who has a family member in Baghdad that says this is the talk on the streets there of what to expect thus the reason it is a rumor. Guys I must add this according to my SS friend Talabani has not scheduled any return flight yet and when he does they normally get alerted to his movement. I will update that if it changes.


9-1-2012 Dalite: Unless the exchange rate is increased (by either RV or RD), there is little to no need for coins to be released into the economy. They are most likely to materialize concurrent with, or after any currency reform has started. Iraq can do as they wish, but the coin's introduction at the current rate will play as well as it did when the currency was replaced in 2004. Notice, I didn't say they can't, only that it makes no sense. 

9-1-2012 LoriC: The US delegation arrives on Monday to influence the passage of the reforms, HCL law and encourage stability. The WTO is reiterating the need for the GOI to pass the tarrif act for accession.  The fact that the US delegation chose Monday as the time to arrive makes me believe that President Talabani will have returned by then, if he hasn't already. We are very close to seeing the Ministers announced and a National Meeting.  I'm very excited by the trend of the news lately.

9-1-2012 Vic1tgk: The Final signal will be given to BIS from SHABS!!! That is HIS MONEY,THE CBI's! He LENDS that money to the IRAQI Government! He/CBI is in a RELATIONSHIP with the GOI! The BILATERAL agreement that requires a third party NEUTRAL"ESCROW" TRUSTEE! That is the BIS! Otherwise he Shab's would be Held for Insider trading! .15 to .34 and, if we get real lucky, .43cents (for VND)! The whole world revolves around the USA and the Dollar! ALL CENTRAL BANKS are in CONNECTION with the FEDERAL RESERVE through the BIS!!! So the 800 LB GORILLA has always been the USA! We are the De Facto government of IRAQ!!!

9-1-2012 BGG: My sources tell me Talabani could show up as early as this weekend and then things could happen very quickly. I'm excited about this possibility; it's a pretty good likelihood. Other than an absolute RV, everything is fabulous, great, great news. 

TONY, AMERICAN CONTRACTOR & CHECKMATE POST, 1 SEPTEMBER

9-1-2012  Intel Guru Tony     I don't believe the holdup is all about the banks.  There were fraudulent things going on in the banking system.  We know what was going on in Iran & Syria.  I still think we are there.  We know there were meetings in Parliament, votes taken, things were passed.  Talabani is already back in Iraq, has been back, having meetings.  He met with Barzani on Wednesday.  Coins and lower denoms are in the markets and exchangers to be used after Sept. 1st.  I think we are closer to it, than farther from it.

9-1-2012  Intel Guru American Contractor  The Central Bank of Iraq (CBI) continues to be the subject of investigations by the Iraqi government.  The project of introducing new Iraq currency continues to be suspended by the Iraq government. The New Iraq currency has not been printed. The CBI has not yet been authorized by the Iraqi government.   It appears no conclusion has been determined and distributing the new Iraq currency may commence on or between 2014-2018. This is to coincide with the next upcoming elections in Iraq.  Also, the electronic software systems intended for the banking industry in Iraq have not been implemented. The problem is the lack of training of the software to the banking managers and employees. The training may take up to two years before you see 100% active participation. There will not be any revaluation in the year 2012.  [Oh, my...First Hurricane Isaac, now American Contractor  

9-1-2012  Intel Guru Checkmate  I probably sound like a broken record.  Is the IQD still a good investment?  It's an incredible opportunity, a once in a lifetime opportunity.  Don't give up.

Member of the Economic Committee: Tariff law will be applied early in 2013 as soon as sophisticated electronic devices become available to check goods at the border, 1 SEPT


Member of the Economic Committee: Tariff law will be applied early in 2013 as soon as sophisticated electronic devices become available to check goods at the border

Date: 09/01/2012 12:02:29 Saturday
Baghdad (news) .. Male member Economic Commission MP / National Alliance / Amer Al-Fayez, the tariff law will be applied early next year, after bringing modern equipment to inspect the goods and imported goods at border crossing points.
said Fayez (of the Agency news) on Saturday: There are several technical reasons prevented Application tariff law notably the lack of trained personnel and sophisticated equipment, explaining, that Iraq imported electronic devices developed to examine the goods and commodities imported and the process of training cadres working on these devices will be activated a law tariffs at the beginning of next year.
http://bit.ly/NDr1qi

Iraq Economic Commission: The application of the tariff law is a requirement for Iraq’s accession to the WTO, 1 SEPT


Iraq Economic Commission: The application of the tariff law is a requirement for Iraq’s accession to the WTO

01/09/2012 11:10
Baghdad September 1 / September (Rn) – The Commission of Economy and Investment parliamentary Saturday clause Iraq’s accession to the World Trade Organization is to apply tariff law which Ajlth government to indefinitely.
Ministry announced the Federal Trade last year that Iraq is working on getting a permanent membership of the World Trade Organization Global disrupt the Iraqi economy unless consensus economic legislation with the Iraqi controls to join the World Trade Organization.
said the Commission’s decision Mahma Khalil told the Kurdish news agency (Rn) that “Iraq wants to join the World Trade Organization should be applied tariff law inactivated by the government” . said Khalil that “tariff law that dish will eliminate the operations financial and administrative corruption at border crossing points and ports (…) there is a desire government to apply the law gradually and over two years.”
and was team work Iraqi to join the World Trade Organization was established in 13 December / December 2004, and presented a memorandum to obtain membership of the organization on September 16 / September 2005, was adopted Iraq observers in January 24, 2007, and began meeting the first round of the team in 2007, followed by second round of meetings in 2008, then The third round end of 2009. Iraq seeks to obtain permanent membership in the WTO rather than an observer member, as is the case at the moment.
The World Trade Organization was founded in 1995 and includes 147 countries worldwide as permanent members. organization aims to create a world economic preserves consumer rights and the product through an international system of laws by hiring full resources of the state and prevent the circulation of goods non-universal impulse.
http://bit.ly/OJCeUw

Financial committee to discuss procedures on CBI’s efforts to reduce money laundering, 1 SEPT


Financial committee to discuss procedures on CBI’s efforts to reduce money laundering

Arbil September 1 / September (Rn) – The parliamentary Finance Committee, on Saturday, discussed the procedures on the central bank to stop money laundering and the reduction of the difference in the sale and purchase of the dinar in the foreign currency auction.
According to a statement issued by the Information Service of the Council of Representatives of Iraq, briefed news agency Kurdistan (Rn), a copy of it, that “parliamentary Finance Committee discussed at its last meeting held under the chairmanship of deputy Haider Abadi, head of the Committee and the attendance of members and advisers topics on the agenda, which included the Bank’s procedures Central regarding ERA currency and the reduction of the difference between the buying and selling of the dinar and stop money laundering. “
He added that the committee also discussed a draft law of the First Amendment to the law of customs tariff, as members agreed to address the General Secretariat of the Council of Ministers to confirm the contents of the Committee’s proposal application progress of the law, “adding that” the meeting saw further discussion of the bill Bank Mesopotamia Islamic terms Committee recommended his offer for the second reading. “
He said the “Committee also discussed the draft law the border and the Committee agreed on display for the first reading and the draft Social Security Act and the Commission decided to address the Presidency and commissions related to a statement the government’s position of the bill, which is awaiting final amendment to the Unified Retirement Law, which will be offered drafted according to the book Authority retirement in September this. “
Also discussed “meeting the proposed budget of the judiciary in 2013, where members of the committee agreed after studying all the paragraphs of the budget on the formation of a subcommittee to discuss the report prepared by the Committee with representatives of the judiciary.”
http://bit.ly/OPudMn

CBI proposes sale of gold coins to soak up liquidity and curb inflation, 1 SEPT


CBI proposes sale of gold coins to soak up liquidity and curb inflation

09/01/2012 12:00 am
He stressed that a good reserve of banks and individuals and an alternative cash successful
seeks CBI to strengthen financial wealth through expansion deal to include gold bullion as well as the dollar, while finished completing the feasibility study the technical and economic project credit card, which will enable customers to reach Freelance anywhere, anytime, announced the central he is committed to accountability in front of the legislature, according to the limits of validity authorized by, stressing that every issue for the last of the decisions are enforceable by the Bank.
said deputy central bank governor Dr appearance of Mohammed Saleh during a statement he made ​​to the Center Brief Iraqi Media Network: The «Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation, a committed and implemented anything issued by the Council».
said «We as an institution we have to prepare for accountability and defense according to the possibilities of its mandated According to the Constitution», indicating that «our answers will be within our mandate authorized by». comes talk favor following a decision of the fact-finding problem by the House of Representatives headed by First Deputy Chairman of the Council Qusay al-Suhail and the membership committee chairmen of Finance and Economy and Chairman of Supreme Audit, which demanded to host officials at the Central Bank, including governor Sinan Shabibi.
and was a member of the Finance Committee parliamentary Haitham al-Jubouri threatened to resort to collecting signatures to interrogate Iraqi Central Bank Governor Sinan al-Shabibi The unmet Presidency of the Council of Representatives asked the formation of an investigative committee on measures central bank followed in his dealings, as revealed from its inception Collect 50 signatures to demand the formation of an investigative committee dealings central bank.
and on the obligations of interrogation between Saleh during his speech (morning) and having two said they stand behind the request the House of Representatives questioning based on the work of the central bank, pointing out that the first reason for information about the existence of corruption (individually) in some joints Bank, which is stated that most state departments suffer not confined to the central only, indicating that the second reason for questioning the nature of the central bank in general and currency auction in particular.
showed no benefit of surprise at the question of interrogation, which he said it’s normal according to the law, which indicated Article 103 Second to the possibility of questioning based on the bank by the legislative authorities to determine the functioning of the monetary policy, which is overseen by directly central bank.
and on the possibility of enhancing the work of the Central Bank, and broaden the base of absorbing liquidity undertaken by the currency auction at the moment in order to counter inflation and reduction, suggested for the possibility of absorbing liquidity through the sale of gold, saying that it was metal is able to constitute reserves good for banks and individuals, as well as being an alternative cash grata in all times and in various parts of the ground.
Saleh said that the central financial instruments Kmzadeh daily, and other in-kind can affect together in the absorption of liquidity and reduce inflation rates in Iraq, something that could be played sell gold as a second come along selling the dollar, is that Saleh stressed the survival of the sale of gold by the central proposal to be studied in the future, denying initiate this in the short term.
Saleh had revealed earlier to center Bri Iraqi Media Network that the central seeks to build future plans aimed at moving from the adoption of the citizens on the dollar for the purposes of maintaining wealth to other alternatives if the coins or gold bonds worth dollar, Mohammed said that «there are plans and ideas futuristic seeks Central Bank to apply a transition from reliance on the dollar for the purposes of storage and retention of wealth to adopt other means of saving such as issuing coins gold or bonds worth dollar banks can sell to citizens.
to that announced for the completion of the feasibility study the technical and economic project credit card, stressing that he waiting for completion of the evaluation Development Agency U.S. so they can be awarded the tender to specialized companies. said deputy central bank governor’s (Center Brief for the Iraqi Media Network): The «Project chunked National have it on each bank to put points withdraw deposit Eartat to facilitate cash handling». , adding that «this effort Mbdhul of USAID, which funded part of the assistance provided to Iraq and the project is currently have ».
stressed that this project «the establishment of infrastructure for the payments system and will go to an international company evaluate bids». said «needs this project to a company with an electronic system to manage points banks multiple in the country. and credit card system combines points banks in the country to enable customers to access their account at any time and place. This project is known also develop retail electronic payments system.
http://bit.ly/RxdifG

CBI calls for traders to commit to an exchange rate of 1189 dinars per dollar, 1 SEPT


CBI calls for traders to commit to an exchange rate of 1189 dinars per dollar

01/09/2012
BAGHDAD / JD / .. called Central Bank of traders and industrialists and laminates produced other to buy dollars from banks participating in the auction of foreign currency and the rate 1189 dinars per dollar.
central bank said in a press statement received / JD / copy of it: on the stakeholders in the activity of the Iraqi private dealers The industrialists and segments other productive carrying import goods and services and production requirements and supplies various development, submission to private banks to participate in an auction of foreign currency, to finance Astiradathm through conversion or opening letters of credit and commitment at an exchange rate of $ 1189 dollars per dinar and compliance. “
and added that access to dollar “after having documents that prove they fundamentalism import and according to standard international norms of documentary credits and remittances and instructions issued by the Central Bank of Iraq in this regard”.
http://bit.ly/PLaI59
SUPPORTING ALTERNATIVE ARTICLE:
Saturday, September 1, 2012
Central Bank calls for private banks to adhere to the exchange rate of the dinar against the dollar
BAGHDAD – babysit – called on the Iraqi Central Bank traders and industrialists in the private sector to “commitment to the exchange rate at the bank and auction of 1189 dinars per dollar, and abide by it.”
He said in a statement today “must slide producers who are engaged in the import of goods and services and supplies various development commitment to this price when you bring them to private banks to participate in the auction currency to finance the importation through conversion or open letters of credit.”
He stressed “the importance of providing documents and archives that prove they fundamentalism import according to standard international norms of documentary credits and remittances and the instructions issued by the Central Bank in this regard.”
The central bank held 5 daily sessions in the week for the sale of foreign currency / dollar / auction allocated for this purpose, involving traders through private banks operating in Iraq … p / i
http://bit.ly/NIuD4l