rozder

Iraq Finance 2012 to be held in London Sept 18-19 Posted: September 9, 2012 in Iraqi Dinar/Politics Tags: Al Jaff, Baghdad, Baghdad University, Ibrahim al-Jaafari, Iraq, London South Bank University, middle east, Rafidain Bank Iraq Finance 2012 will facilitate constructive dialogue and exchanges between all the key players to rebuild a world-class banking and financial services industry in Iraq.Iraq Finance 2012 will facilitate constructive dialogue and exchanges between all the key players to rebuild a world-class banking and financial services industry in Iraq. The Objectives To discuss opportunities for regenerating the banking and financial services industry in Iraq. To introduce the current state of banking and finance in Iraq to international investors. To develop a comprehensive assessment of the Iraqi banking and financial services industry and address needs for reform and investment. To examine the issues relating to the mobilisation of investment and project finance for the Iraqi private and public sectors. To examine the state of corporate financing in Iraq and the sources for equity, short-term and long-term debt financing for the Iraqi private sector. To promote collaboration between Iraqi Ministers, Deputies, Advisors, CBI officials, heads of government, Director Generals, senior parliamentarians, and financial experts with their international counterparts. Key Topics The current state of banking and finance in Iraq. Immediate and long term strategies of the Ministry of Finance and the Central Bank. The mobilisation of debt and equity finance for the Iraqi private sector. The financing of large scale infrastructure projects and Public-Private Partnerships The use of development aid from international agencies. The use of export finance and tied loans. Iraq’s indebtedness and factors behind its credit-worthiness. Business in Iraq – the ins and outs. An overview of government reforms and investment needed in: - Banking - Investment banking - Insurance - Project and corporate finance - Leasing - Capital Markets - Money Markets - Consumer Finance - Payments and Technology - Development Finance - Export Finance - Private Equity - Hedge Funds CONFIRMED SPEAKERS AND ATTENDEES INCLUDE: H.E. Dr Rowsch Nori Shaways Deputy Prime Minister For Economic And Industrial Affairs Dr Shaways first served as Prime Minister of the KDP-controlled part of Kurdistan. After 2004 he served as one of Iraq’s two Vice Presidents in the interim government established in 2004. Subsequently, he was a Deputy Prime Minister in the government headed by Ibrahim al-Jaafari. Previously, Dr Shaways served as speaker of Parliament in the Kurdish autonomous region and is a member of the Kurdistan Democratic Party. Dr Shaways earned a doctorate in engineering in Germany and returned to Iraq in 1975 to join the Kurdish resistance against the regime in Iraq. H.E. Dr Rafe Al-Essawi Minister Of Finance Dr Rafi al-Essawi is the Finance Minister of Iraq and a former Deputy Prime Minister. He is a doctor by profession and trained as an orthopedic surgeon in Baghdad and Basra, before becoming Director of Fallujah hospital. Following the December 2005 election, Issawi became Minister of State for Foreign Affairs. On 19 July 2008 he was later appointed Deputy Prime Minister. He later became Minister of Finance in the government formed on 22 December 2010. H.E. Dr Ali Yusuf Al Shukri Minister Of Planning & Development Dr Ali Al-Shukri achieved a BSc,MSc, and PhD in Law all from the University of Baghdad, Iraq. Dr Al-Shukri then went on to work at various universities, during which time he published a number of well-known publications. He held the position of Head of Public & Private Law from 2001-2003 and later Head of Graduate Studies from 2003-2004 at The University of Omar Al-Mukhtar, Lybia. He was given the role of Dean of the Faculty of Law at the University of Sahel and Sahara from 2004-2005, before moving on to becoming Dean of the Faculty of Law at The University of Kufa in 2006. Dr Al-Shukri held that role until 2011, at which point he was appointed Minister of Planning for Iraq. H.E. Eng. Mohamed Sahib Alderajy Minister Of Construction & Housing H.E. Mohamed Sahib Alderajy acquired a BSc in civil engineering from Baghdad University and later an MSc in civil engineering from London South Bank University. Mr Alderajy has acted as Project Director, Manager and Engineer on numerous engineering and infrastructure projects across the Middle East and has worked in various countries including Libya, Tunisia, Qatar and Iraq. Between 2004 and 2007 he was Senior Project Engineer and Team Leader for Brent Council in the UK. Mr Alderajy became Member of Parliament and later was appointed Minister of Construction and Housing. He is the founder of the Iraqi Sandook Al- Iskan (Housing Bank), a landmark financial institution that provides loans with zero interest to ordinary people and investors allowing them to build houses and fund various development projects. During his time as Minister, Mr Alderajy has been a key player and principal promoter of the new Iraqi Investment Law that encourages foreign investors into Iraq through the provision of land and other incentives. His overriding priority has always been the development of a strong Iraqi economy and better services for all of Iraq’s citizens. Ms Hamdiyah Al-Jaff President & Chairman, Trade Bank Of Iraq Hamdiya M. Al – Jaff has been Chairman of the Board, President and Chief Executive Officer of the Trade Bank of Iraq since June 2011. Mrs. Al – Jaff has a 25 year career in banking and management with an extensive experience in Iraq and the Middle East Region. She began her career in 1982 with Rafidain Bank, Baghdad; Republic of Iraq. Her excellent performance in various capacities within different departments of Rafidain Bank was rewarded with overseas postings. From 2004 until 2008, she was assigned greater responsibilities as Manager of Rafidain Bank in Lebanon and Egypt. In 2009 Mrs. Al – Jaff was appointed as an Advisor for the Rafidain Bank. In her capacity as an advisor she helped the bank to move into new directions with the introduction of international banking services and products. She also contributed significantly during this time towards the development of the banking sector of Iraq. Ms Al Jaff has a double graduation in Accounting and Political Science from the University of Baghdad and the University of Mosul. She also has a Higher Diploma Degree in Political Science from The Institute for Research and Arabic Studies under the umbrella of the Arab League. Dr Mudher Kasim Deputy Governor Of Central Bank Of Iraq Faruk Mustafa Rasool Chairman Farouk Group Holding Faruk Mustafa Rasool is a good example of the new Iraq and the big opportunities available within this new nation. He is the Founder, Owner and Chairman of many companies in Iraq and the Kurdistan Region through his company Faruk Group Holding (FGH). Rasool’s group includes Asiacell, two cement companies, and many other sectors including: IT, hospitality, hospitals, construction, manufacturing, insurance, trading, housing and automotive dealerships. Rasool’s view is to create leading Iraqi companies in their fields with an added value to their employees and customers. Bishr Baker Ernst & Young – Office Managing Partner, Jordan And Iraq Bishr is the Managing Partner at Ernst & Young Jordan, and Iraq , leading the Amman, Baghdad and Erbil Offices. Drawing upon 25 years of client servicing expertise, he has extensive experience working with the largest regional banks and investment firms in the Middle East as well as government agencies, telecoms, real estate, hospitality and mining. Since joining Ernst & Young in 1992, he played an important role in major transactions in the Middle East, more specifically in Jordan and Iraq and has considerable experience in advising clients on key transactions, due diligence, valuations and IPOs. Bishr has been in charge of the reconciliation of Iraq’ external debt since 2004, where E&Y is the Reconciliation Agent for the Ministry of Finance. Baker holds a B.Sc. in Economics and Accounting from the University of Bristol, UK. He is both a member of the Institute of Chartered Accountants in England and Wales and is a member of the Jordan Association of Certified Public Accountants. Wadie Habboush President & CEO Habboush Group Wadie Habboush is the President & CEO of Habboush Group, a trusted strategic alliance partner of some of the world’s leading energy and financial companies operating in emerging markets worldwide. Habboush is actively engaged in oil, gas, and infrastructure projects in southern and central Iraq. A descendant of Iraq, he has deep ties to the tribes and local communities. Formerly an attorney in the London and Washington offices of Kirkland & Ellis LLP, he specialised in mergers and acquisitions, private equity, leveraged buyouts, equity offerings, and other cross-border corporate transactions. Habboush has been consulted on Iraq policy by the highest levels of the U.S. Government, including the President, and engages widely with senior Iraqi officials. Habboush holds a Juris Doctorate from Georgetown University and a B.Sc. magna cum laude from the American University in Washington DC. H.E. Dr Qusay Al-Suhail First Deputy President Of Parliament Dr Qusay Al-Suhail is a top political leader in the Sadrist movement in Iraq (one of the largest factions among Iraq’s Shi’ite majority) and a senior member of the Iraqi National Assembly. Dr Al-Suhail is also Assistant Professor at the Department of Geology, University of Basrah. Dr Al-Suhail graduated from Baghdad University with MSc and PhD degrees in Hydrology. He’s a renowned expert in the water resources of Iraq and the wider region.Apart from his brilliant scientific career, Dr, Al-Suhail has always been actively involvedin charitable and civil society organisations in Iraq. H.E. Dr Sinan Al-Shabibi Governor, Central Bank Of Iraq Dr Al-Shabibi holds a B.Sc. in Economics and a Diploma in Advanced Studies in Economic Developmentfrom Baghdad University. He also holds an M.A. in Economics from the University of Manchester, and a Ph.D. in Economics from the University of Bristol. Dr Al-Shabibi formerly held senior positions in the Iraqi Ministry of Planning and Ministry of Oil. Since taking over as central bank governor, Al-Shabibi has introduced the Bank’s employees to modern finance, made the switch from typewriters and calculators to computers, introduced the Bankto financial instruments like currency auctions, and replaced Iraq’s pre-2003 banknotes with the New Iraqi Dinar. He has also reduced inflation to single digits and increased foreign exchange reserves further supporting further Iraq’s macroeconomic stability. H.E. Dr Sami Al-Araji Chairman, National Investment Commission Dr. Al-Araji was appointed Chairman of the National Investment Commission in 2009. Prior to this, Dr. Al-Araji was the Deputy Minister at the Ministry of Industry and Minerals where he held numerous positions including Director General (DG) of Planning, DG of Engineering Inspection and Quality Control, and Head of the Nuclear Safety Authority at the Atomic Energy Commission. Dr. Al-Araji is a member of many reputable committees and professional societies worldwide including the American Society of Aeronautics & Astronautics, American Society of Mechanical Engineers, American Nuclear Society, North American Research Society and others. Dr. Al-Araji has over 80 publications to his credit and holds a BSc, MSc and Ph.D. in Mechanical Engineering from Michigan State University. H.E. Dr Haider Al-Abadi Chairman, Parliamentary Finance Committee Dr Haider al-Abadi graduated with a BSc degree from Baghdad University in Electrical Engineering in 1975 and worked there as an assistant lecturer, before completing a PhD degree in Electronic Engineering at The University of Manchester, England in 1980. He was appointed Minister of Communications in the Iraqi Governing Council on September 1st 2003 and held that post for a year. In 2005 he served as an advisor to the Iraqi Prime Minister in the first elected Government, before becoming Chairman of the Economy, Investment and Reconstruction Committee in the House of Representatives from 2006-2010. From 2010 onwards, Dr al-Abadi has held the position of Chairman of the Parliamentary Finance Committee. Ziad Badr International Finance Corporation (IFC), Iraq Country Manager In July 2011 ZiadBadr joined IFC and became their first manager in Iraq responsible for setting up the new IFC office in Baghdad. He is also charged with developing and executing IFC’s strategy in the country, and leading IFC’s dialogue and coordination with the Iraqi government, private sector, donors, and other stake-holders. Ahmed Ramadan Senior Vice President Sales & Project Finance General Electric Ahmed has lived most of his life between the US and Egypt where he Graduated from the American University in Cairo with a BA in Economics and speaks fluently English and Arabic. Ahmed has a 17-year experience at senior positions in the Banking sector specializing in Corporate and Investment Banking as well as Asset Based Finance. He started his banking career at Commercial International Bank, Egypt where he concluded the Chase Manhattan Credit Training Program, he then moved to Citibank, Egypt. Before joining GE, Ahmed was the North Africa & Levant Regional Manager for Cisco Capital. His geographical focus has been MEA over the last 6 years. Ahmed has been intensively involved in the financing of trade and investment flows between MEA and Europe and has a deep knowledge of trade and export /project finance techniques and practices, together with a large portfolio of banking and institutional relations in the Region. Ahmed joined GE in 2007 and leads the Customer and Project Finance activities supporting all industrial businesses of GE covering the Southern & Eastern Africa Region in addition to the Gulf and Levant. Matthew Mould Regional Director Of Sales The Royal Mint Matthew Mould is Regional Director of Sales for the Middle East and South Asia, and has worked at the Royal Mint for seven years. Matthew’s previous role at the Royal Mint was as Commemorative Coin Trade Manager for the Asia Pacific region. The Royal Mint is the world leading manufacturer of coins and medals with an international reputation for the highest quality, beautiful design and maximum security. The Royal Mint is the largest exporting mint in the world supplying 60 countries annually as well as manufacturing all UK coinage.The Royal Mint has a long and proud history and association with the Republic of Iraq having, for almost 100 years, been the manufacturer of the majority of Iraqi circulating coins. Sharon Poulson Iraq Finance Manager Shell EP International Limited Sharon Poulson is currently holding the position of the Iraq Finance Manager in Shell- mainly focusing on building a finance team to deliver an integrated support across Shell’s Upstream Business in Iraq. The Iraq Finance Team covers all finance activities on the Majnoon Field Development (Shell-Operated), West Qurna 1 (Exxon-operated) and South Gas Venture (JV-Operated). Sharon moved to Dubai in January 2006 to join Upstream Commercial Finance providing commercial finance advice to upstream new business teams in the Middle East. She has held a number of Finance Lead positions, including a large-scale CO2 capture to Enhanced Oil Recovery. Prior to that, Sharon was the Economics & Treasury Manager for Shell Renewable & Hydrogen – ranging from minority stakes in Hydrogen venture cap funds to large capital intensive offshore wind farms. She joined Shell in January 2002 as a business development manager for Shell Wind Energy.Pre-Shell experience includes energy sector project finance in Russia for IFC (World Bank Group) and peace-keeping activities at the United Nations M Iqbal Asaria Mr Asaria is a trained Economist and Accountant and has worked as an Investment Analyst in the City of London for several years. For the last few years he has acted as a consultant on financial product structuring and niche marketing services to faith and ethnic communities in the UK. Mr Asaria was the Chair of the Business and Economics Committee of the Muslim Council of Britain. He is now a Special Adviser on Business and Economic Affairs to the Secretary General of the Muslim Council of Britain. He was also a member of the Governor of the Bank of England’s working party set up to facilitate the introduction of Shariah compliant financial products in the UK market. Iqbal teaches various MSc, MBA and MA level courses in Islamic Finance, Banking and Insurance at CASS Business School, Middlesex Business School, Aston Business School and Bangor Business School. He is a contributing tutor to Durham University’s Summer School on Islamic Finance. In 2005 Mr Asaria was awarded the CBE in the Queen’s Honours List for services to international development

Dinar Interesting News Article 2011-11-27 17:54:21 "Kurdistan to raise salaries due to anticipated exchange rate increase this week" Erbil, November 14 (Rn) – The Military Adviser to the Ministry of the Interior Region of Kurdistan, the ministry’s decision to exchange increase the salaries of its members this week, as The Minister of Finance Government of the Territory to the ministry waiting for internal referral lists the salaries of its members to exchange the planned increase for them. According to Bakhtiar Baban told the Kurdish news agency (Rn), that “the Ministry of Interior Government of the region referred the lists of salaries Mentsabha to the Finance Ministry to start regardless of the salaries of employees of the Internal Security Forces, with the increases prescribed to them,” he said, adding that “due to exchange rate increases this week.” For his part, said Minister of Finance, the territorial Government Buys Talabani’s (Rn), that “his ministry had not yet received from the Ministry of the Interior lists salaries Mentsabha,” asserting that “his ministry would seek to pay the salaries of employees of the Internal Security Forces, with the increases prescribed to them immediately upon receipt of such lists.” The Council Iraqi Parliament had voted early in July last, unanimously passed a bill that the internal security forces, after the amendment to paragraph 89 thereof, which prohibits issue any instructions to force elements of the internal security forces to exercise acts contrary to Islamic law to be amended in accordance with Article II of the Iraqi Constitution , as required by law to disburse the salaries of the forces of internal increases retroactively from the date of the first of January (January) last year.

Two of The Most Common RV Questions 2011-11-02 12:02:07 By Elevation Co. While no one is an expert on the Iraqi RV in terms of correctly predicting a date and a rate, we try to surround ourselves with people who we feel exercise a great deal of grounded common sense and solid discrimination. From these very few people, we have drawn some conclusions that we feel comfortable with and that might bring some readers a little peace of mind when it comes to waiting for RV. Mind you, this is only our opinion, but here are two of the most common RV questions and our thoughts on each: RV Question #1: When will the Iraqi dinar revalue and what will be the rate? Answer: Many “gurus” predict RV every week based on little more than bad intel. This is frustrating if you actually put stock in what these people say. At first, we listened to what they all had to say. Soon, it became clear there was a whole lot of BS goin’ on. Eventually, we settled on getting most of our intel from one person who we’ve found has been extremely consistent, clear, logical, humble and well-connected with contacts close to Iraqi Parliament and the US Embassy in Iraq. That person would be Randy Koonce of another site. Randy’s view is that the rate must allow Iraq to meet their budget. This makes sense to us. In order to meet their budget, their currency rate, based on current oil production and the price the US pays for Iraqi crude oil (around $32/barrel), would need to be a minimum of $3.41. However, the rate could be a little higher with inflation, so maybe $3.50 or so. Thus, this would be our own personal feeling as to where we expect it to come out -- $3.41 to $3.50. And, while we do not anticipate a lower “sucker” rate, we’re open to the possibility. As far as timing the RV, Mr. Koonce has said for many months that until the Arbil Agreement is officially implemented, we won’t see the RV. He hasn’t changed his tune one bit, even though so many others have announced, “It’s done! Arbil has been implemented! Ministers announced! RV is here!” when, in fact, it wasn’t. When we actually do see the announcement of a fully seated GOI (government of Iraq), then Iraq will crack open their budget and we’ll see the RV because the rate is in the budget. Randy feels this could happen at any time, but as the US has apparently taken the threat of a “no confidence” vote against Maliki off the table with VP Biden’s visit a couple weeks ago, the timeline is not as pressing as it was. All in all, he feels that we could see RVbefore Thanksgiving. As Randy would say, “Good question, next question...” RV Question #2: Should I cash in ALL of my dinars as soon as it RVs or should I hold some back to see if it goes higher? Answer: While we expect the dinar to increase in value over the next few years after RV -- possibly doubling or even tripling from it’s immediate post-RV value, we’ll likely be cashing everything inimmediately. That is, providing we don’t feel it’s a “sucker” rate meant to get people to cash in for pennies on the dinar, just days or a few weeks before the rate goes much higher. We doubt this will happen, though. Personally, if it comes in under $2.75, we may hold off on cashing in everything, depending on what we hear from sources close to the CBI and Parliament. If it comes out at $2.75 or higher, we’ll likely cash all our dinars in, even if it might double or triple over the next 2-3 years. Why would we do this? Two reasons: 1) We don’t trust the stability of Iraq. 2) We don’t trust the stability of world markets. We’d much rather be in control of the value of our money by converting our post-RV dinars into dollars, paying our taxes, and then reinvesting where we feel more comfortable. One of the post-RV investments we’ve selected for our own portfolio is expected to produce gains of 27% per year. When compounded, it will only take three years for us to more than double our investment, which should equal what we’d expect to see if we left it in dinars. The major advantage of putting our post-RV dollars into something else is that our money would be invested into something that we feel much safer with, and yet has a high rate of return. Also, beyond the initial three years, our investment would continue to compound. In six years, our initial investment will have increased FIVE times…and we don’t have to worry about Iraqi politics. In just nine years our investment would be worth over 11 times what we invested. And finally, if we wait another nine years (18 total), we’re looking at multiplying our initial investment over 122 times. So, we really see no reason to risk leaving our money in dinars.

I have some and wanna sell some of thats. so i wanna sell 5 million dinar. desperate to hold for long time ago. i have some dinar to sell abt 5 million.

How much you rather pay for 2 million? currently I live in vancouver, BC. so can we meet at Blaine WA. near the BoA. How much you rather pay for that?I hope not below than current rates market price.

I have 5 milion dinar to sell, i very desperate now and need money pay my tution fee. any body interested pls email me :

i got dinar which i bought from DT. seems like RV still not happen yet and now I am really need money for something. I consider to sell some of my dinar (5M) so if anybody interested just email me. re********.com.