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J Sue

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  1. 01/08/2011 Baghdad-morning State Minister and Government spokesman Ali debbagh on reducing working hours in all ministries and State institutions during the holy month of Ramadan. Dabbagh said that permanence would reduce the hour means that the end of working hours will be at 1 p.m http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsabaah.com%2FArticleShow.aspx%3FID%3D11454
  2. Al-Maliki at Tao nightclub: look to Beijing to be a partner in economic stratigia capable Baghdad-morning Paid a visit by Prime Minister Nouri al-Maliki to Beijing to sign three memorandums of understanding, and to obtain China's support to get rid of international sanctions on Iraq. He met Prime Minister on the second day of his visit to Beijing, Chinese President Hu Kho. Al Malki confirmed that Iraq looked forward to further joint relations with China in the political, economic, trade, industrial, agricultural, scientific, health and others, to the benefit of the two countries. And for Prime Minister, according to a statement released by his Office had received "morning," a copy, call for Chinese companies to operate in Iraq and participate in the reconstruction process, especially since Iraq has succeeded in creating the appropriate climate for investment, and enable the development of legislative and legal base. He said: "this visit confirms our desire to develop bilateral relations, and benefit from the Chinese experience, and to obtain China's support in Iraq's exit from Chapter VII, in addition to the effective operation of the Joint Economic Commission between the two countries. The Prime Minister said that Iraq is a country with many riches, but were deprived for decades, and now look forward to China to be a partner in economic stratigia capable in various sectors. President of people's Republic of China, said: this visit will have a major role in strengthening bilateral relations, stressing that China is vitally bound to reduce or cancel the debt owed by Iraq, supported by the Security Council to get rid of international sanctions. He said the desire to contribute to Chinese companies in the reconstruction process in Iraq, and take the opportunity to work in various sectors, especially economic and trade, reiterated his country's support for the Iraqi Government in all efforts to maintain the country's stability and prosperity. The Prime Minister also met his Chinese counterpart Wen Jiabao, which took place at the beginning of the meeting of the official reception ceremony headed by Ministers of the Government of China building, the two Democrats ' calls for alsalaman performed in the presence of the delegations. The Prime Minister called for talks to activate the work of the Joint Commission between Iraq and China. Maliki also sent an invitation to Chinese Prime Minister to visit Iraq, and the exchange of visits by Ministers and officials in both countries. The two sides signed yesterday a memorandum of understanding in the area of economic, technical, and in the training of Iraqi personnel, will also be signing a memorandum of understanding in the field of electricity. http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsabaah.com%2FArticleShow.aspx%3FID%3D10801
  3. Iraq entering the age of islamic banks Text size Iraq has approved the construction of a government Islamic bank with capital reaching 250 billion dinars (about $214 million). The new bank will be under the supervision of the Central Bank of IraqCentral Bank of IraqCentral Bank of Iraq CBI Iraq | Financial Services News | Profile | Officers » Research and will be administratively linked to the Finance Ministry. An Iraqi official confirmed that the Islamic bank will work to attract significant capital and will contribute to the process of integrating governmental and private banks. The Iraqi government also decided to allow the operation of Windows in governmental banks. The Economic Committee of the Iraqi Council previously announced that Islamic banks, of which there are nine, don't contribute to raising the economic development level, while experts found that the private banks in Iraq, of which there are 36, don't have the tools to promote monetary and economic policies for several reasons, including a missing law organizing operations and the failure to secure the required support from the country. For example, the Rafidain Bank, one of the most important governmental banks in Iraq, doesn't accept transfers from private banks (including Islamic banks) and the Finance Ministry refuses to deal with private banks (including Islamic ones). The Executive Director of the Association of Iraqi Private Banks, Faiq Nasser Hussain, announced that Iraqi governmental banks shouldn't operate pursuant to the Islamic banking system because Islamic bank budgets are different from the budgets of traditional commercial banks. He noted that the Central Bank of Iraq... finally put it to a committee to draft a law for this sector. . recently announced that it will grant a number of licenses to establish private banks, confirming that their growth will enhance the economic situation in the country. The total capital of private banks is about $2.7 billion dollars and expected to rise to 100 billion dinars by the end of June, reaching 250 billion by the end of 2012. The two main purposes of the Central Bank of IraqCentral Bank of IraqCentral Bank of Iraq . are to: maintain price stability and implement monetary policy, including exchange rate policies, management of foreign reserves, currency issuance, management, and organizing internal and external payments. http://www.zawya.com/story.cfm/sidZAWYA20110712100750/Iraq_entering_the_age_of_islamic_banks
  4. Currency Auctions Announcement No. (1917) The latest daily currency auction was held in the Central Bank of Iraq on the 13-JUN-2011. The results were as follows: Details Notes Number of banks 18 Auction price selling dinar / US$ 1170 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 190,520,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 190,520,000 Total offers for selling (US$)
  5. Rafaa Al Issawi: we price $ 85 for balancing 2012 29/05/2011 During the 70th anniversary of the founding of Rafidain Bank Zia added: new facilities for journalists and media professionals Baghdad Yasser ascendant Finance Minister Rafe Al-Issawi. that Ministry adopted 85 dollars a barrel for balancing 2012 on the basis of the export of 2.5 million barrels per day. During its celebration of the Rafidain Bank was founded on the 70th anniversary in the presence of the Central Bank Governor. Missions Ministry workers Al-Issawi said the Ministry's intention to send missions to the United Kingdom at the expense of the Ministry with a view to raising the performance of employees in the banking sector, said: we are now waiting for the signing of the memorandum of understanding with the British side pointing that such missions aimed at bringing improved performance working in the Ministry. Restructuring the banking sector He said the Ministry also seeks, through the State banking sector restructuring programme in cooperation with the World Bank and the Central Bank to develop the banking sector to catch up with the world especially as we are embarking on a major building campaign. He said restructuring the administrative and technical level and amending legislation will be in building human capacities and can work in accordance with international accounting standards and catch up with Nations. Private sector support In response to a question on activating economic morning performance private banking sector Al-Issawi said: we had an important meeting with banking departments (governmental) and discussed the working paper submitted by the special Iraqi banks Association on supporting private banks. He made four important recommendations in this regard the Ministry will propose to the economic cabinet to win approval. The Ministry was determined to support the private banking sector and can play roles in economic development as a complement to the State sector in playing this role. 61 billion rupees profits Then Director of Rafidain Zia added word announced that net profits of the Bank exceeded the 61 billion dinars within four months of corresponding 12 billion dinars in 2010. In an exclusive interview on the sidelines of economic morning celebrating the 70th anniversary of the founding of Rafidain Bank: this is done check within 100 events on the Prime Minister for the advancement of the status of the Iraqi economy. He added: it was built 6 new branches in the regions of walgbaish and Zurbatiyah shrine, Chinese and almdhatet. The total bank lending during the 100 days stood at 116 billion dinars, distributed between 5,000 beneficiaries. Complete 70 percent From the smart card project As between the Bank and 431 completed a smart card to beneficiaries and which contributed to facilitating the distribution of salaries and reducing burdens of retirees covered other categories of 609 thousand cards at Rasheed Bank and thereby completed 70 percent of the project. During the ceremony, attended by morning submitted to Bank shield made Chancellor, Honourable Minister to Rafidain Mr. Zia added with a similar shield Bank Associates llkhion valuing its role in improving the performance of the Bank. Added during receipt shield (morning) revealed his intention to create facilities for journalists and media personnel covered by loans will be announced soon. Stressed the importance of seeking alternatives to protect ... Alshabibi: last chance to protect Iraqi funds Central Bank Governor Sinan Al-shebibi. that the decision to extend protection to Iraqi funds useful for arranging their future status. He said the morning economic ceremony: this is the last chance, the Government must endeavour to find alternatives acceptable settlement of their protectionism during the period of one year. Al-Shabibi noted that the United Nations will not continue forever to protect Iraqi funds and this requires a search for how protection after the expiry of the time and requires swift action to resolve your debt. "With this extension cannot creditors act with Iraqi funds and booked but this does not mean that the case will continue indefinitely, we must reflect on how to solve these complex problems?. http://www.alsabaah.com
  6. Aswat Al Iraq / Baghdad , Civil Society -------------------------------------------------------------------------------- "We looks for building a national economic system," Iraq’s Parliament Speaker says 5/24/2011 1:38 PM BAGHDAD / Aswat al-Iraq: Iraq’s Parliament Speaker, Usama al-Nujeify, has said on Tuesday that he was looking forward for the building of a national economic system that insures equivalence in rights, opportunities and duties in Iraq. “We must all cooperate, each stemming from his position, experience and potentials, to achieve or lay correct basis, in order to achieve stability and peace for our homeland, as well as freedom and prosperity for our people,” Nujeify said in a speech at the Iraqi Economic Partnership Conference, held in the Parliament’s building. “We are all looking forward to restore our people back into a productive and not consumptive people, taking into consideration that Iraqis have initiated the beginning of the civilization of the whole humanity,” he said. The works of the Conference for Partnership of Economists, Social and Government Activists, was opened in Baghdad early in the day, under chairmanship of the Parliament Speaker, Usama al-Nujeify and the UNSG’s Special Representative in Iraq, Ad Melkert, with the presence of a number of Iraqi and Arab Businessmen. SKH (IT) http://en.aswataliraq.info/Default1.aspx?page=article_page&id=142732&l=1
  7. This may have been already posted. Conference in Baghdad to discuss economy 24/05/2011 Baghdad — Alaa Abdul Sattar To be held in Baghdad on a major conference aimed at supporting the Iraqi economy, with the participation of international organizations, said Ahmed Al-alwani, head of Economics at the House in a special permit for» Sabah»: «the Conference will be held under the auspices of the World Bank and the United Nations under the title (the economic future of Iraq) and Al-alwani said ... that it will discuss the economic situation of «current profiling to economic process and ways to promote», Adding to its «they aspire to submit papers and insights on the economic process, but time constraints prevented this», he stressed, however, that these conferences bear imperative to identify features of the Iraqi economy in the next stage of advancement of the reality of the country, Prime Minister Nouri al-Maliki confirmed Sunday that one of the first requirements for successful reconstruction achieved political stability and security. www.alsabaah.com http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsabaah.com%2FArticleShow.aspx%3FID%3D8079
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