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Friday, March 24, 2017

KTFA UPDATED, 24 MARCH

KTFA:

Mexsal:  I have a question. Regarding the 1.13 that is being talked about, Mof talked about a rate of 1.132(?) but in recent posts someone said Iraqis often use the . instead of , so my question is are we getting excited for nothing or is this an exception?

Singingwolf: MexSal,  Need not worry, the document stately clearly:    1.134 dollars per dinar     IMO

3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar.

Ministry of Planning

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Walkingstick:  Abadi in Washington Peace Conference: I'm lucky because I'm still alive

Prime Minister, "Haider al-Abadi," explained that the liberation of the security forces to the city of Mosul was not the only challenge, but it had to attract people to its side as well.

He said, "Abadi" in Washington Peace Conference, and I followed "nucleus", "Bakd we were able to create a historical relationship between the security forces and the Peshmerga, and there is now a mutual trust between these forces were not present in Iraq," adding that "a good sign, and we did not expect smoother relationship to such a degree. "

And "Abadi": "It is now the Iraqi army national army proud of all Aeraguibn, because it represents all the Iraqi people, and respect the civilians, and concludes in his work."

In a separate context, "Abadi": When you begin to reform the closest friends turning into enemies, noting that the reform does not admire people with positions and influence, he said, adding that he was lucky that he was still alive.

And the popular crowd, "Abadi" said: I have Nssna Act popular crowd seeks to include them within the military and placed under the responsibility, and to act according to military law, pointing out that no armed groups outside the law is a violation of the law and will be prosecuted.

http://www.nawaat.net/?p=9416

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Samson: Thousands of followers of the Sadrist movement begin their demonstration in Tahrir Square

March 24, 2017
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Thousands of people began from around the country, on Friday morning, to demonstrate in Tahrir Square in central Baghdad, to protest against the continuation of financial and administrative corruption in the joints of the state and its institutions.

The reporter said, "Journal News", the protesters carried Iraqi flags waving and shouting out against corrupt government officials, and constantly denounce unemployment and the deterioration of the security, economic and political situation in the country.

He added that the leaders and organizers of the demonstration threw their speeches at the start of the demonstration and Olhbwa the feelings of citizens, as they threw their greetings to the security forces fighting terrorism.

He is scheduled to attend a chest amid crowds of demonstrators to speak.

And closed the security forces, on Thursday, many of the streets and bridges and areas in the capital Baghdad, concrete barriers, in preparation for the demonstrations called by the cleric Moqtada al-Sadr.

http://www.aljournal.com/main/myapp-12733/

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FrostyTheSnowman:
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NEW YORK TIMES

AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks

By DONATELLA LORCH, Special to The New York Times

Published: March 25, 1991

KUWAIT CITY, March 24— It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.

Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.

Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.

"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled

The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.
The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.

Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.

For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.

"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineer in his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."

Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."

Photo: As Kuwaiti banks opened for the first time in months, a group waited in line to change old banknotes for new. New currency was printed to replace stocks of previous notes looted during the Iraqi occupation. (Agence France-Presse)

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