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Presidency of the parliament cancels weekend and extend the work of the Council 11/03/2012 17:58:00 The independent Iraqi news agency / Baghdad / The presidium meeting on Monday, the Constitutional Council in the room with the heads of committees and representatives of parliamentary blocs to discuss the constitutional amendments and draft legal Federal Court and the Supreme Judicial Council and the functioning of the committees. According to a statement received by the Council (and the independent Iraqi news agency) that Nujaifi stressed the importance of expediting resolution of draft laws and efforts to activate the work of the Council in the regulatory and legislative framework, including contributing to the development and construction of the country Calling for the need to exercise its functions in parliamentary committees believe in providing a wide range of laws for a vote The statement added that the meeting discussed the time the House of Representatives in the coming period where it was agreed to cancel the weekend planned this week and extend the work of the Council until the next Sunday after is customized holiday to 4 of April next to make up for holidays for festivals Nowruz and to avoid the special procedures to prepare for the summit Arab end of this month and the accompanying atmosphere of tight security The statement noted that the meeting discussed the section on constitutional amendments on the importance of forming a new committee for constitutional amendments through the provision of parliamentary blocs candidates on the committee that will take it upon themselves to consider the amendments and what has been done in order to reach results contribute to the attention of the referendum And on the Federal Court and the Supreme Judicial Council meeting underlined the need to reach a consensus enables the display of two draft laws to the parliament in the coming days, especially in the presence of a consensus between the blocks on the importance of the legal code of the Federal Court and the Judicial Council Which are of importance to the achievement of the foundations of justice and the resolution of contentious issues in the Constitution or the outstanding issues between the center and the provinces and territories The meeting agreed to work hard to activate the role of the committees to submit draft laws and completed the form, which provides state-building and service ,Citizens will be after the holiday, the legislative report in the House of Representatives to assess the work of the committees and begin to take action against the absent members of the committees exercise their functions in the parliamentary committees http://translate.goo...xeo-piDDjLeCh-Q

Discuss with the parliamentary foreign legal experts comments on the draft Contract Law of Treaties Sunday, March 11 / March 2012 17:12 [baghdad - where] . Hosted the parliamentary Foreign Relations Committee today, experts from the Legal Department at the Ministry of Foreign Affairs and Chairman of the Parliamentary Legal Committee. ". A statement by the House of Representatives received by all of Iraq [where] a copy of it on Sunday that "the parliamentary Foreign Relations Committee, hosted today in the House of Representatives based experts from the Legal Department at the Ministry of Foreign Affairs and Chairman of the Legal Committee in Parliament MP Khalid Shwani." He added that "During the meeting notes that were raised about the legal bill a treaty that has been read a second reading to lift it to a vote after the completion of gaps in it." Ended http://translate.googleusercontent.com/translate_c?hl=en&prev=/search%3Fq%3Dnahrain%26hl%3Den%26client%3Dfirefox-a%26hs%3Dbh9%26rls%3Dorg.mozilla:en-US:official&rurl=translate.google.com&sl=ar&u=http://www.alliraqnews.com/index.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D30721:2012-03-11-14-02-09%26catid%3D45:2011-05-03-12-11-51%26Itemid%3D77&usg=ALkJrhgqOTj6fIvXGhNF0ReVShxPr67SgQ

Oil and Politics in Iraq On: Sun 11/03/2012 9:19 More / New York Times . He spent a delegation from the International Energy Agency two days in Baghdad during which he held recently with senior Iraqi officials in order to create the annual report on the oil sector in the country. ت Some estimates say that Iraq has a large reserves in the world, is also planning to conduct an international auction of oil and gas in May. . Without the law, however, oil and gas, and with a political system is divided, the report of the International Energy Agency will take care and focuses on the political obstacles more than oil energy. This week, Baghdad announced that oil production has increased to more than three million barrels per day for the first time in thirty years. And the Iraqi government said that oil exports will rise after the introduction of La Marsa floating at the end of the week. In December Energy Agency said that oil production in Iraq can be up to the rate of 4.36 million barrels per day, half the production of Saudi Arabia. With this Agency has warned that the split in the political system can be an effective barrier more than anything else. . Did not settle the political system after the invasion never, tensions have flared in Baghdad when he accused Prime Minister Nuri al-Maliki, Vice President Tariq al-Hashimi to terrorism after the departure of U.S. forces directly. Says Juan Cole, professor of history at the University of Michigan that an al-Maliki "was part of an attempt to marginalize and humiliate opponents, and a sign of unwillingness to deal in large national." ق Iraq may be a democracy from the theoretical side, but it is slow in building the political front, especially when it comes to passing the oil and gas law, who is suffering from delays. و ل Cole described the policy without a stable Iraq "is not achieving anything about the oil law." و Cole adds that Maliki may be able to use harsh tactics to try to control things like the federal budget and the political influence. For their part, Kurdish leaders strongly rejected the involvement of non-Exxon Mobil, the world's fourth licensing round due to its contracts with the Kurdistan Regional Government. . Where grumbling Deputy Prime Minister Ruz Nuri Shaways, MP for the Kurdistan Democratic Party, said in a statement that the Baghdad opposed to what "economic openness" and "trade development", which denounced the Baghdad of any deals mono with the Kurdish government as illegal, even though Cole stated that the central government can not do much in this regard. . Cole says, "Iraqi government is facing two types of problems on the development of oil, as it is still very weak and can not provide security for Western companies and their employees. In addition, it is still suffering from the economic recession, making it the fears that are exploited by these companies, are forced to make deals a harsh scare big investors. " ي Iraq can benefit from its strategic location in the Middle East. ك The neighbor Turkey is keen to be the focus of energy moving through the passage of some oil and gas pipelines job in the world through them. أ In the south, the Strait of Hormuz transmits about 20% of oil exported to the world. Cole says, "With this, Iraq is politically closed countries." May have passed the federal budget for this year's temporary political victory for the owners, but in the long run is unlikely to be able to claim that he is authorized politically in a country depends heavily on oil revenues in federal. ب Baghdad sometimes tend toward Iran, has been reinforced by high oil prices, the position of prime minister. Iraq, however, may find himself practiced the game because of geopolitical tug regional interests to Washington. Cole warns that "Iraq is very weak at the present time." . Expected to publish the International Energy Agency report on Iraq in October as a prelude to its view of the full energy for the year 2012. While voicing optimism about the oil sector in Iraq after the war, she said Executive Director of the Agency Maria van Hoeven that politics stand in the way of comprehensive development. . The other hand, Iraqi officials say in the affairs of the oil that Iraq has begun to download crude oil from the new export routes in the Persian Gulf. They added that the pumping began on Thursday morning, a rate of twenty thousand barrels per hour. . The new course is the first of the five courses will be charged as a whole about five million barrels per day, and trading is scheduled to conduct the result of 900 thousand barrels per day. ال Export capacity in the new Iraq will help bring in needed cash to rebuild after decades of war and international sanctions http://translate.goo...cexeZjZEim_xVvw

Central Bank confirms that the guardianship and the Warka Bank came to save him On: Sun 11/03/2012 9:21 Baghdad / term follow-up Said the Finance Committee in the House of Representatives will call it the Iraqi Central Bank Governor Sinan Shabibi to discuss the issue of Warka Bank, said that the Iraqi Central Bank to impose guardianship on the Iraqi Warka Bank for Investment and Finance came to save him from some of the problems that plague them. Revealed the same parliamentary committee that there are unconfirmed reports suggest the smuggling capital of the Warka Bank out of the country following the flight of the founders of the bank. The Iraqi central bank decided last week to develop and guardianship to the Warka Bank, one of the largest Iraqi banks because of some visa problems in financial dealings. The Central Bank of Iraq and that the imposition of guardianship on the Iraqi Warka Bank for Investment and Finance came to save him from some of the problems that plague them. A member of the Committee Secretary Hadi, told the Kurdish news agency (Rn) that the Finance Committee will summon the Governor of Central Bank of Iraq to discuss the issue of Warka Bank, noting that there is a problem in the Warka Bank for more than two years and there were instruments back because of the lack of balance of Mali. ". A member of the Finance Committee of the existence of unconfirmed reports indicate that the capital of the bank have been smuggled abroad, and that the founders of the bank also may have left Iraq, "noting that" there are a lot of claims made by citizens to the judiciary against the bank, "and there is controversy in the ministries letters of guarantee provided by the bank. " And sought the Warka Bank, according to economic reports to emerge from its financial crisis by entering Bembagesat with Standard Chartered Bank British to sell a share of the shares, but the talks reached a dead end. The decision to place custody of the Warka Bank at a time enter the Central Bank of a new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, after news spread that the breadth of the phenomenon of smuggling hard currency, especially to Iran, facing international sanctions. In the meantime, the CBI that the imposition of guardianship on the Warka Bank of Iraq Investment and Finance came to save him from some of the problems experienced by noting that the interim administration's current bank going work, while the Commission held House of Representatives Finance a Central Bank is an important step to improve and reality. The Iraqi Central Bank decided this week to develop and guardianship to the Warka Bank of Iraq one of the largest banks because of some visa problems in financial dealings. و The main tasks of the Central Bank in managing monetary policy in the country and raise the level of the values ​​of the Iraqi dinar and tackle inflation. The deputy governor of Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn), "the central bank to impose guardianship on the Warka Bank to help him overcome his problems," noting that "the bank had a problem and we look closely now its assets, and work is continuing which has not closed." The Deputy Governor of the Bank that "Warka Bank of the large banks and very good and has many branches, and the custody means the temporary administration of the bank," and expressed the hope that "Warka Bank back to normal after the conclusion of the investigation." He continued that "the guardianship, according to the law is 18 months, renewable for 18 more," revealing that "the bank faltered in dealing daily because of a section of his dealings outside his control, including the Iraqi government to withdraw deposits from three years ago." In response to the puzzlement expressed by Iraqi Finance Minister Rafie al-Issawi's decision to custody of the Warka Bank without informing him in person, the deputy central bank governor that "there is confusion in the law of the Central Bank occurred in the articles is the 59 and 66," adding that "He explained to the Minister of Finance and the latter expressed his conviction. " He said. He and Finance Minister Rafie al-Issawi in a press statement yesterday surprised at the decision of the Central Bank of Iraq's Warka Bank developed under the tutelage of coordination and without the approval of the Ministry of Finance. He says the Iraqi Central Bank, Article 59 of its law permits him put custody of the banks which is about the appointment of an interim administration for any bank get its financial problems, while the point of article 66 of law to the trustee after the appointed by the central bank can seek through the Central Bank of the request decision of the Minister of Finance to save the bank in case found that there is a possibility to save him. And sought the Warka Bank, according to economic reports out of the financial crisis by entering Bembagesat with the British bank Standard Chartered to sell a share of the shares, but the talks reached a dead end. The Committee expressed its support for the parliamentary economic decision to place custody of the P-Warka Egypt on the grounds that the policy adopted by his administration were not effective. Economists point out that all banks in Iraq, whether governmental and private organizations need to tighten control by the central bank in order to prevent financial problems call placed under guardianship. The economist said Falah Hassan's (Rn), that "there are a lot of the problems that occurred in the banks in the case of deposits, the control of all banks, whether private or government on the grounds that some of the banks to now has not led active role in the Iraqi economy." Hassan said that "the control of the central bank to all banks will be capable of evaluating their work and improve the efficiency of performance and thus employ expertise to improve the Iraqi economy," adding that "everyone rejects the principle of trusteeship on any bank, but there is confirmation to activate the control of the bank." He continued that "censorship Central Bank of Iraq will be important in terms of evaluating the work of Iraqi banks in addition to preventing access to the stage of development of each trusteeship." The decision to place custody of the Warka Bank in the Central time enter the new mechanism requiring the withdrawal of foreign currency on the basis of the importance of development projects in the country, after news spread that the breadth of the phenomenon of smuggling hard currency, especially to Iran, facing international sanctions. http://translate.goo...d4S0lFeVAuwS5PA

During a meeting with a delegation of Foreign Affairs .. Arab expresses his satisfaction with the measures the Government of Iraq to hold the Arab summit on time On: Friday 03/09/2012 22:45 Baghdad (news) .. Through the Secretary-General of the League of Arab States, Dr. Nabil el-Arabi, the great satisfaction of the Procedures of the Government of Iraq in order to hold the summit in a timely manner and to the fullest. A statement by the Foreign Ministry has received the Agency (news) a copy of it on Friday: Foreign Minister Hoshyar Zebari and his accompanying delegation arrived in Cairo for a meeting of Arab foreign ministers to be held on Saturday. The statement added that the Minister of Foreign Affairs and his accompanying delegation met with the delegation of the General Secretariat of the Arab League, headed by Dr. Nabil Arab League Secretary General at the residence of Foreign Minister Hoshyar Zebari, on Friday evening, as part of preparations for the Arab summit and ministerial meetings which preceded in Baghdad during the the period from 27-29/3/2012. The statement noted: that the meeting included consideration of all measures are to ensure the success of the Arab summit, including the preparation of documents and draft resolutions and invitations to senior international officials. The statement stressed: that the Secretary-General of the League of Arab States and the General Secretariat had expressed great satisfaction with the procedures undertaken and the Government of Iraq in order to hold the summit in a timely manner and to the fullest. / Finished / s. P / http://translate.goo...jKStu1N-tzuaG5w

Banks that can’t even cash a check slow Iraq economy March 08, 2012 01:34 AM By Aseel Kami, Yara Bayoumy A man uses an ATM machine at a bank in Baghdad March 4, 2012. (REUTERS/Mohammed Ameen)BAGHDAD: An Iraqi businessman, trying to cash in on the billions of dollars pouring into the country from lucrative oil contracts, complains that his biggest headache is not bomb attacks or sectarian politics but primitive banks. “Where are the credit cards?” said the businessman, who represents a foreign automobile company in Iraq and declined to be identified because of his dealings with the government. Elsewhere in the Gulf, he noted, credit cards are widely used. “How far away are we from this development?” His frustration is typical of investors dealing with Iraq’s underdeveloped, bureaucratic and sometimes corrupt banking system, where it can be difficult to perform even the simplest of banking tasks: clear a check. The lack of efficient banking is holding the country back as it rebuilds its economy after the underinvestment of the Saddam Hussein years and the turmoil that followed the 2003 U.S.-led invasion. Without banks that are integrated into the global financial system, foreign investors outside the oil sector are likely to continue hesitating to commit large sums to Iraq. The weaknesses of the banking sector are twofold: the dominance of state-owned institutions, which lack modern banking systems, and a plethora of small, privately owned banks that in ways are more akin to family vaults than national financial institutions. Among Iraq’s more than 45 banks, seven are state-owned and control 85 percent of bank assets or about 42 trillion dinars ($36 billion), said Abdul-Aziz Hassoun, executive director of the Iraqi Private Banks’ League. “And what do they do? They do not invest the money in the market, they don’t do any banking operations,” he said. “The Iraqi banking system is still suffering from the same problems of 10 years ago. The handful of government banks are just like safes for the government’s accounts, nothing else.” A report last November by Iraq’s Dar Es Salaam investment bank said Iraq had only about 900 bank branches for a population of about 30 million. By contrast, neighboring Jordan, with a fifth of the population, had over 600 branches, it said. Bank lending in Iraq amounted to a mere $5.8 billion in the first half of 2010, the report said, citing the latest publicly available data from the central bank, compared to $20 billion for Jordan. The World Bank estimated that banks extended $8.1 billion of credit to the economy in 2010, or 9.8 percent of gross domestic product compared to an average of 55 percent for countries in the Middle East and North Africa. Most banking activities are conducted by two state institutions, Rafidain and Rasheed. Privately owned banks were nationalized in 1964; they were permitted to operate again from the 1990s, but their business remains mostly limited to deposit services and personal lending. Deputy central bank governor Mudher Kasim said the state banks’ biggest weakness was their lack of internal networks connecting their branches. They have also struggled with electronic check clearing because they lack an electronic link with the central bank’s payments system, he said. “These two banks have a monopoly of about 83 percent of Iraq’s banking activities. If we take all the government banks, that figure goes up to 90 percent and their technological abilities are zero,” Kasim told Reuters at his office in central Baghdad. The Iraqi businessman representing an automobile company said Rafidain had refused to cash his check at a branch other than the one where it had originated. Returning to the original branch would have meant a six-hour car journey. In desperation, he canceled the check and asked for payment in cash. But carrying suitcases stuffed with cash is risky in a country where bombings, kidnappings and shootings still happen daily. The central bank and Finance Ministry have been hit by bomb attacks in recent years and remain targets. To reach Kasim’s office, journalists had to be dropped off beyond blast walls and barbed wire and go through three checkpoints, pat-downs and bag searches, leaving their mobile phones behind. “In the end I was obliged to open the company account in a Turkish bank in Irbil,” the businessman told Reuters. Irbil is in the Kurdish north of Iraq, which has enjoyed an investment boom because it is the only part of the country to have largely escaped the violence of the past decade. A World Bank report said Rafidain and Rasheed banks were “inefficient and both suffer from the legacy of past losses, as well as from performing quasi-fiscal operations” – that is, activities linked to the government’s spending policy rather than their own business interests. The government needs to clean up banks’ balance sheets, boost supervision of the financial system and level the playing field for competition from the private sector, the World Bank said. Infighting and political wrangling among government agencies makes it uncertain whether the state banks will reform any time soon, however. “Corruption is rampant in government banks, their activity is weak ... all the wretchedness is there,” said Kasim, whose institution supervises the banking sector. “And nobody can touch it because it’s the government – they are sacred.” Officials of Rafidain were not available to comment, despite several attempts to contact them. Privately owned banks tend to be outfitted with more modern technology such as ATM machines and equipment to handle credit cards. But they are generally small, family-oriented outfits that do not have large amounts of capital to handle a wide range of business or expand across the country. The central bank laid out a three-stage program in 2009 for banks to raise their capital; by June 2012 each bank will need to boost its capital to $128 million, and a year later to $213 million. In a sign that some banks may have difficulty reaching the minimum capital requirements, the central bank said this week that it had placed privately owned Warka Bank under guardianship to supervise it through an insolvency process. However, most banks are likely to raise the necessary capital quite easily, often by using retained earnings, bankers said. The World Bank said late last year that while “several banks have questionable financial strength,” most banks including Rafidain and Rasheed had plenty of cash and the banking system as a whole did not seem to face major risks. The gradual entrance of foreign banks into Iraq may help to develop the industry. Since early 2006, several foreign banks have acquired stakes in local banks, including British-based HSBC in Dar Es Salaam Bank, Qatar National Bank with Mansour Bank and National Bank of Kuwait with Credit Bank. Banks from Lebanon and Turkey, both of which have strong trade ties with Iraq, are due to start operating in the country by this June, Hassoun said. These are Fransabank, Banque Libano-Francaise, Lebanon & Gulf Bank and Turkey’s Isbank, he said. The hope is that the foreign presence will increase Iraq’s access to international markets, luring more foreign investors and banks. “That strengthens financial integration with the world, strengthens trade, the investment environment,” Kasim said. He said the central bank was in the early stages of reforming banking laws to include separate legislation on Islamic banking, as well as a clause that would impose mergers on institutions that did not hold a minimum amount of capital. Islamic banking, which operates under religious principles such as bans on interest and monetary speculation, did not exist under Saddam; Islamic banks now operate in Iraq, but there is no specific law governing them. “The banking law has to be improved because as it stands now, it’s for a previous era,” Kasim said. This is a lofty goal, however, since Iraq’s legislature has been paralyzed due to squabbling among rival political parties, hindering the passage of much legislation. And even if banking laws are reformed, state banks are restructured, many foreign banks enter Iraq and small, privately owned banks merge into bigger ones, it may take some time to create a truly service-oriented culture in Iraqi banks. Read more: http://www.dailystar...x#ixzz1ogoUt5AU (The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)

THERE YA GO

Iraq vows to end Exxon and Kurdistan oil deal SteelGuru: Iraq’s government said it would move to end a major contract with Exxon Mobil after the US oil giant signed a deal with semi autonomous Kurdistan to explore fields there which Baghdad on Wednesday called a violation of the law. Exxon’s agreement in Kurdistan and Baghdad’s response have set up a power struggle between the Iraqi central government and multinational oil companies over the potential resources in the northern Kurdish region. Baghdad and Kurdistan’s regional government are in a long running political dispute over oil and land rights and the central government says all [/url]foreign oil deals signed with the Kurdistan region are illegal. Mr Abdul Mahdy Al Ameedi director of the oil ministry’s contracts and licensing directorate said that “Exxon has violated the ministry directions and instructions concerning the companies working in Kurdistan. It’s a violation of the contract and the law. As a consequence the oil ministry will take steps to end the contract. But this operation will need arrangements.” It was unclear what steps the oil ministry may be able to immediately take against Exxon as Baghdad seeks to manage the challenge by the US major to its national oil policies. Exxon has a multi-billion dollar contract with Iraq’s oil ministry to develop the 8.7 billion barrel West Qurna Phase I oilfield in the south one of dozens of large contracts Iraq hopes will help rebuild its war battered crude industry. Challenging Exxon will be a tricky balancing act for Prime Minister Mr Nuri Al Maliki’s government as it seeks to rebuild the economy and oil production which is currently around 2.9 million barrels per day. Trying to end the Exxon deal could lead to long legal negotiations that would sour the appetite of other investors. Exxon has gone to international arbitration before, for example, in Venezuela over a nationalization move. Mr Ameedi said that there had been no response from Exxon to the Iraqi government’s communications with the company regarding the Kurdistan deal. Exxon hasn’t answered us yet. The Kurdish government had also been talking to US oil company Chevron and Italian operator Eni. He said that we know that there is communication between them. There are talks. Chevron has said it continues to be interested in pursuing opportunities in Iraq but that it will not discuss specifics. http://ikjnews.com/?p=2499

Iraq's accession to the transparency of international oil restore confidence at home and abroad 10/03/2012 BAGHDAD - Al Sabah A member of the Committee on Energy and Oil Bahaa al-Hadi Ahmed said Iraq's accession to the organization Transparency International in oil transactions will return to Iraq, his confidence in the country and outside through the auditing and knowledge of its exports and imports of oil. Ahmed said: that Iraq's accession to the organization Transparency International in oil transactions of State is necessary in At present he will restore people's trust in the Iraqi state and the federal government to clear in front of them all being from oil transactions both at the level of contracts with international companies or the amount of fiscal revenue returning to the country, in addition to the amount of oil exported to abroad. He continued: During his speech for the (agency news of news) that this organization will improve the reputation of Iraq among the world the fact that this organization shared by the top oil-producing countries in the world and that are subject to international standards to the issue of transparency, saying it would ease the operations of financial and administrative corruption that occur in oil transactions internal and external. He had announced that the Federal Oil Ministry on Monday to issue a first report by Transparency International for the extractive industries of oil export revenues of Iraqi crude for the year (2009), which reported the Organization for matching financial accounts at the level of revenues belonging to the exported quantities of oil. http://translate.goo...ujHkCoh4wpRXM4Q

Calls for activating the role of the financial sector during the economic reform 10/03/2012 Although he worked in all the circumstances BAGHDAD - Al Sabah Claims adopting a policy of economic reform promote productive sectors and services is needed to have a monetary and fiscal policies in support of the reform process, and achieve the desired goals during the time periods required by identified according to strategic plans, minutes, especially that the Iraqi economy suffered the devastation and destruction after 2003 is widely, as well as the great neglect experienced by all sectors prior to that date for a period of decades. Economic researcher Riyad Obeid Saudi said that the structure of the Iraqi economy was hit in the period after 2003 much of the deformation result of exposure to many aspects of sabotage material in the general areas of the country, pointing to poor economic policies of the incubator for this structure, which seeks to promote the strengths of the Iraqi economy and to address weaknesses emerging in it. He noted that the financial sector, even in these difficult circumstances of sectors efficient components of the various markets, institutions and tools running on the mobilization of domestic savings, and then directed towards sectors and economic activities more efficient and profitable, it works to attract foreign investment to provide additional funding would undoubtedly finance development efficiently. Noting that when the heads of State for re-building the pillars of the economy, it is a must-have to surround the sector priority in the programs of economic reform Taatkhaddha to cancel or reduce the degree of restrictions on the financial system in order to enhance the level of efficiency and the liberalization of market operations of financial constraints, which hinder the Securities at the local and international. He added: The monetary and fiscal policies have the most important economic policies that play a bigger role in the effect on the financial sector, which relied on the distinctive development occur in the performance of this sector because the procedures in direct contact with the real performance of the institutions, . He explained that the monetary policy in Iraq has moved from direct intervention by the authority of the system prior to full independence under the new system and was the result of interference in the function of the central bank at the time that has infected the extreme vulnerability measures the monetary authority and the deviation of the reality of their actions for achieving the goals of that policy which led to the exposure of the Iraqi economy to crises in general and monetary, in particular, is reflected in the Iraqi dinar exchange rate, which fell drastically, especially in the nineties, reaching to (3000) dinars per dollar, which led to direct the citizen to keep foreign currency instead of the Iraqi dinar and interest in buying durable goods and real estate to maintain the maximum extent possible from the buying power of the Iraqi dinar. He continued, saying that the central bank enjoyed after 2009, full independence of direct and Giralmbacrh, and in this period started in the monetary policy succeeded in achieving the goals of economic policy through the relative stability in the economy through Matsmah by its means to control the collection of domestic liquidity, also used the bank in 2003 currency auction foreign buying and selling of the dollar to ensure the stability of the Iraqi dinar exchange rate in the range of (1500) dinars to the dollar then began to decline gradually, and without it to less than (1200) dinars to the dollar. . Which impacted directly on the reduced cost of import of goods and services imported, which occupies the bulk of goods and services offered in the Iraqi market and thus has the general level of prices lower, clear and remarkable stability in it, either at the level of exports, the effects that were not of value because Iraqi exports limited in size, except oil prices are determined according to a mechanism far from the Iraqi dinar exchange rate. و It is natural that reflected the effects of the bank's decision to intervene in determining the exchange rate of the Iraqi dinar through public auction on the volume of liquidity in the home, which inevitably fell through the purchase of large amounts of dollar a day. ا ا Which was reflected in the prices of over sizing the demand for goods and services in all classes. ه This is in addition to the provision of central bank foreign currency to finance imports and the elimination of speculation in which that may be used by traders in this market. م What helped in the face of inflation and to stop the aggravation. And it is important to note that these procedures and policies that Atkhaddha Central Bank is responsible for formulating and implementing monetary policy had a significant role in achieving tremendous success on more than one level, but that is not enough alone to achieve economic reform needed to ensure stability and higher rates of growth in all economic sectors to provide a good level of performance in the general economic activity. He said the Bank adopted a policy of raising interest rates in the early years after the political change an attempt to control the money supply to influence inflation, which is escalation scary in those years, however, that this policy led to the contraction of a clear negative effect on the outskirts of the Iraqi market with all its aspects. He added that monetary policy has been able to achieve success and clearly in terms of improving the exchange rate of the national currency and reduce inflation in prices, which led on the whole to stabilize the economic situation and improve the purchasing power of the Iraqi dinar, which would have positive effects on the level of living of the citizen in the medium term and long term . He said, it is useful to follow the Ministry of Finance fiscal policy in line with monetary policy without neglecting the general objectives of the state budget facing the problems of employment unemployed in the economy and combat poverty and improve the level of fact, service, health and education, which all require further exchange as well as development projects, the provinces that need to be investment spending, and these are all put pressure on the Ministry of Finance to develop a policy is consistent with the direction of monetary policy and maintain the privacy of each. . And as you make them at a high level of accuracy and coordination in the employment of Eduathma to achieve greater economic stability and growth in the development process. http://translate.goo...Jz3CFe7jmDD3F7Q

Calls for activating the role of the financial sector during the economic reform 10/03/2012 Although he worked in all the circumstances BAGHDAD - Al Sabah Claims adopting a policy of economic reform promote productive sectors and services is needed to have a monetary and fiscal policies in support of the reform process, and achieve the desired goals during the time periods required by identified according to strategic plans, minutes, especially that the Iraqi economy suffered the devastation and destruction after 2003 is widely, as well as the great neglect experienced by all sectors prior to that date for a period of decades. Economic researcher Riyad Obeid Saudi said that the structure of the Iraqi economy was hit in the period after 2003 much of the deformation result of exposure to many aspects of sabotage material in the general areas of the country, pointing to poor economic policies of the incubator for this structure, which seeks to promote the strengths of the Iraqi economy and to address weaknesses emerging in it. He noted that the financial sector, even in these difficult circumstances of sectors efficient components of the various markets, institutions and tools running on the mobilization of domestic savings, and then directed towards sectors and economic activities more efficient and profitable, it works to attract foreign investment to provide additional funding would undoubtedly finance development efficiently. Noting that when the heads of State for re-building the pillars of the economy, it is a must-have to surround the sector priority in the programs of economic reform Taatkhaddha to cancel or reduce the degree of restrictions on the financial system in order to enhance the level of efficiency and the liberalization of market operations of financial constraints, which hinder the Securities at the local and international. He added: The monetary and fiscal policies have the most important economic policies that play a bigger role in the effect on the financial sector, which relied on the distinctive development occur in the performance of this sector because the procedures in direct contact with the real performance of the institutions, . He explained that the monetary policy in Iraq has moved from direct intervention by the authority of the system prior to full independence under the new system and was the result of interference in the function of the central bank at the time that has infected the extreme vulnerability measures the monetary authority and the deviation of the reality of their actions for achieving the goals of that policy which led to the exposure of the Iraqi economy to crises in general and monetary, in particular, is reflected in the Iraqi dinar exchange rate, which fell drastically, especially in the nineties, reaching to (3000) dinars per dollar, which led to direct the citizen to keep foreign currency instead of the Iraqi dinar and interest in buying durable goods and real estate to maintain the maximum extent possible from the buying power of the Iraqi dinar. He continued, saying that the central bank enjoyed after 2009, full independence of direct and Giralmbacrh, and in this period started in the monetary policy succeeded in achieving the goals of economic policy through the relative stability in the economy through Matsmah by its means to control the collection of domestic liquidity, also used the bank in 2003 currency auction foreign buying and selling of the dollar to ensure the stability of the Iraqi dinar exchange rate in the range of (1500) dinars to the dollar then began to decline gradually, and without it to less than (1200) dinars to the dollar. . Which impacted directly on the reduced cost of import of goods and services imported, which occupies the bulk of goods and services offered in the Iraqi market and thus has the general level of prices lower, clear and remarkable stability in it, either at the level of exports, the effects that were not of value because Iraqi exports limited in size, except oil prices are determined according to a mechanism far from the Iraqi dinar exchange rate. و It is natural that reflected the effects of the bank's decision to intervene in determining the exchange rate of the Iraqi dinar through public auction on the volume of liquidity in the home, which inevitably fell through the purchase of large amounts of dollar a day. ا ا Which was reflected in the prices of over sizing the demand for goods and services in all classes. ه This is in addition to the provision of central bank foreign currency to finance imports and the elimination of speculation in which that may be used by traders in this market. م What helped in the face of inflation and to stop the aggravation. And it is important to note that these procedures and policies that Atkhaddha Central Bank is responsible for formulating and implementing monetary policy had a significant role in achieving tremendous success on more than one level, but that is not enough alone to achieve economic reform needed to ensure stability and higher rates of growth in all economic sectors to provide a good level of performance in the general economic activity. He said the Bank adopted a policy of raising interest rates in the early years after the political change an attempt to control the money supply to influence inflation, which is escalation scary in those years, however, that this policy led to the contraction of a clear negative effect on the outskirts of the Iraqi market with all its aspects. He added that monetary policy has been able to achieve success and clearly in terms of improving the exchange rate of the national currency and reduce inflation in prices, which led on the whole to stabilize the economic situation and improve the purchasing power of the Iraqi dinar, which would have positive effects on the level of living of the citizen in the medium term and long term . He said, it is useful to follow the Ministry of Finance fiscal policy in line with monetary policy without neglecting the general objectives of the state budget facing the problems of employment unemployed in the economy and combat poverty and improve the level of fact, service, health and education, which all require further exchange as well as development projects, the provinces that need to be investment spending, and these are all put pressure on the Ministry of Finance to develop a policy is consistent with the direction of monetary policy and maintain the privacy of each. . And as you make them at a high level of accuracy and coordination in the employment of Eduathma to achieve greater economic stability and growth in the development process. http://translate.goo...Jz3CFe7jmDD3F7Q

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Central Bank: the housing crisis and a serious indicator must be faced On: Friday 3/9/2012 7:38 Baghdad / term ن Commended the deputy governor of the Central Bank of the appearance of Mohammed Saleh the need to develop plans to solve the housing crisis in Iraq, as it gives an indication of serious inflation in the coming period. Saleh said (of the Agency news) on Thursday: The occurrence of inflation in the country comes through the high real estate prices to very high levels, leading to increased prices of food and industrial goods in the domestic market, and this is what makes inflation index rises gradually. He added the federal government to set priorities in solving the housing crisis as it gives an indication of serious inflation in the coming period and may lead to economic problems in spite of control by the central bank. . He pointed to: that inflation is now happening in the local markets to the fears and ether-called "inflation in transition" because it comes from the outside when you import the materials and goods to the Iraqi market, warning of rising inflation from the current level. ل Saleh said: that the central bank will take the necessary measures to maintain the value of Iraqi dinar in the case of high rates of inflation index to its highest level of control on the prices of materials in the local markets. http://translate.goo...iI0lv2okG6tqRGg

Presidency of the Republic gives the green light to implementation of the budget On: Friday 3/9/2012 8:32 Baghdad / menopausal Hossam Acommok Ratified by the Presidency on the financial budget of the state in 2012, comes at a time confirmed the Legal Committee in the House of Representatives that the law is now enforceable. A statement issued by the Presidency of the Republic and received a (long) a copy of it yesterday, "it ratified the budget of 2012 that approved by the Council House of Representatives late last February. " According to the statement that "the implementation of the budget will be the start of publication in the Official Gazette and retroactively since the beginning of this year." . The House of Representatives had voted on 23 February, the approval of the budget bill for fiscal year 2012 during its regular hour-long late at night. House of Representatives and announced on his official income of the general budget will be approved by the 102 trillion and 326 billion and 898 million dinars and expenditures Trliuna 117 and 122 billion, 930 million and 150 thousand dinars. The budget expenditures are equal to the largest budget in the history of Iraq's 100 billion and 448 million and 507 thousand and 847 dollars at the price of the dinar on this day. According to the budget bill, the deficit with 14 Trliuna and 796 billion and 32 million and 150 thousand dinars. In contrast, said ministry spokesman Abdul Zahra al-Hindawi planning in a telephone conversation with (range) yesterday, "have not received an official statement to ratify the budget, but we heard it through the media, and if that happens, it actually Vstnfz according to the general contexts." Legal Committee of the House of Representatives, in turn confirmed that the law has become final and not disable the government, except those provisions that had been intercepted by the government earlier. " The Fadhil Mohammed Jawad, Advisor in the Cabinet said in a press statement three days ago that "the Council of Ministers has not been raised in its weekly meeting a budget and decided to send its observations on the budget to the Federal Court." "The Iraqi Council of Ministers meeting agreed not to put the budget of a new file in its meetings and rely on the response of the Federal Court on objections to some of the paragraphs of the budget." However, the member of the Legal Committee Hassoun Fatlawi said in a telephone conversation with (range) yesterday, "the government must implement the provisions of the budget, all Bastnchae those that the government recorded observations upon such as Article 35 on pushing forward, which had been the work of Parliament to abolish the voting session on the budget." It is said that the Committee expressed their disappointment after the government worked to challenge the budget before the Federal Court, said the cabinet had confiscated the achievements of the parliament because he canceled payment on credit and instructed to give citizens account for 25 percent of the surplus oil imports, according to a proposal had been submitted by the Sadrist movement, which is expected to implemented beginning next October. http://translate.goo..._l284o6Wky6ayAw

High Commission with the Central Bank to delete the zeros from the currency On: Friday 3/9/2012 8:31 Baghdad / term She said the Economic Committee in the Iraqi parliament, on Thursday, it had established with the Central Bank of Iraq to a joint committee to begin the process of deletion of zeros from the local currency. Said Abdul Hussein Abtan told the Kurdish news agency that "the Economic Commission formed a joint committee with the Central Bank of Iraq on Thursday to oversee the process of deleting the zeros of the local currency, which is scheduled to begin in September next. " He added that "the Commission will provide technical and legal requirements, administrative and paint nature of the Iraqi market and its relevance to the deletion of the currency during the stage preceding the start delete currency as well as to increase public awareness about the details of the process of removing zeros from the currency." He pointed out that the central bank promised to be able to make a change of currency and delete zeros in order to "reduce inflation" in the country. And the parliamentary economic committee said it had agreed with the Iraqi Central Bank to begin the process of changing the local currency in September next. . The central bank announced it was considering the requirements of the project need to delete the zeros of the local currency to enact a law governing the implementation of the project or not, indicating that he was looking this file with the cabinet because he is a national project to support the Iraqi economy. The Committee emphasized the parliamentary Finance, last Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, confirming the same time the law was passed that would give Iraq an opportunity to address economic inflation. And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances. The Iraqi government says that the process of deletion of zeros from the local currency will increase the phenomenon of money laundering and is working to convince the central bank need to stop work on the project. And harmony of the Securities of the government's position to delete the zeros and says that adversely affect the financial trading in the stock market. http://translate.goo...EO3NgtC_B6LY3PA

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Central Bank: the top of the right opportunity Baghdad to discuss Iraq's debt Date: Monday 05/03/2012 17:51 Iraq will be presented at the Public Economic upcoming summit Baghdad - Mostafa Hashemi Central Bank of Iraq said that the Arab summit to be held in Baghdad from the most appropriate forums to discuss the Arab Iraq's debt with the Arab countries. و The deputy governor of Bank of the appearance of Mohammed Saleh, said that there is the question and the other Iraqi special issue of public debt on the subject of Arab Iraq, which has not been settled so far, except for Algeria and some other countries. He noted that some small countries, Malta Kcyprus dropped all the debts on Iraq, while there are countries did not fall sister debts on Iraq so far. And Saleh said in a statement singled out by the (citizen) to be the largest debts of Iraq is a Gulf states plus Egypt and Jordan that have a particular issue. م He emphasized that the issue of Iraqi debt should take priority before any other topic they were because of the policies of the former regime, which were not serving the people were not targeted for development. Stressing the need to close this file, even if those countries did not call for payment. And preparation for the discussion of this issue, Saleh said that there was a move Iraqis to this topic as well as other topics Iraqi - Arabic such as areas free and exemptions and everything related to joint action. And completed the Ministers of Economy, Trade and Finance Forum View Economic and Social Council, which will be presented to the Baghdad summit to be held on 29 March this where the Council decided to Arab Economic and Social intensify efforts for the good preparation for the twenty-third session of the summit of Baghdad. Iraq seeks to diversify the economy and the establishment of new sectors reduce excessive dependence on the oil sector, which provides more than 95 percent of state revenues. It also seeks Baghdad to attract more investors to the economic sectors, particularly infrastructure, energy and focus on oil, in order to raise the production capacity of oil to secure the revenue necessary to spend on development plans and real estate projects and infrastructure destroyed by war in the past two decades. . And experts estimated the need for the electricity sector to $ 29 billion between the years 2015 and 2030 to finance the strategic plans. The Minister of Trade Khairallah Babiker, which like Iraq in meetings of the Eighty-ninth Session of the Council of Arab Economic and Social on the sidelines of the meeting, that the economic file, which passed in the meeting by the Arab ministers, due to be presented at the top of Baghdad includes the follow-up the execution of the summits economic and social development, and preparation for the Arab summit development, economic and social development in its third session, scheduled in Riyadh in January 2013, noting that the meeting was an important and essential as discussed Ministers are important and that will be at the top of Baghdad the next, which include put the strategy of Arab tourist and mechanisms of implementation, in addition to the strategic water security in the Arab region to meet the challenges and future requirements for sustainable development, and an Arab strategy for disaster risk reduction. He added, Babiker said the council said in the final recommendations for its eighty-ninth that includes a social profile that is displayed at the top of Baghdad, reports on measures taken to follow up the implementation of the resolutions of Arab summits Economic and Social Development (Kuwait 2009) and (Sharm el-Sheikh 2011), and follow up the implementation of the decisions of ordinary summit on the issues social and prepare and prepare for the Arab Conference on the implementation of the Millennium Development Goals 2012, and adoption of the Marrakesh Declaration as a platform action committed by the Member States during the next five years to improve the conditions of childhood in the Arab region. The economic reports that «inflation rates are high, which is negative, in light of the high growth rates in Iraq, because of the Iraqi Central Bank by more than 6% at the end of 2011. It forecast gross domestic product to grow by 9.4 percent annually until 2016, thanks to the advantage of the huge oil revenues, which enhances the survival of high levels of inflation within the same period. Iraq has signed oil deals with international companies to revive his sector and rehabilitation of new fields and old, in order to raise production capacity to 8 million barrels per day by 2017, which could jump him to the first row in the list of global producers, trying to overcome obstacles in the development of infrastructure and the difficulties facing export. Increased production and more than 300 thousand barrels per day since the first awarding of contracts to international oil companies in 2009. Sources of oil additional growth of 300 thousand barrels per day this year, bringing the production to 3 million barrels to allow export of 2.5 million barrels a day. و She and the International Energy Agency, «Iraq's ability to double oil production to more than one lesbian during the three years, but the pace of growth will slow sharply after it». And monitoring report «advantages», the need for Iraq in the education sector to «building of 6 thousand school, recalling the Ministry of Education to the presence of 8 million students, are distributed to more than twenty thousand public school and about 600 private schools, except for the Kurdistan region in the North». ف In real estate residential, showed estimates of semi-official «the need for investments worth $ 100 billion under a plan to build one million new homes in Baghdad, and address the shortage of residential property with the growing population, given the reluctance of developers foreign from coming to Iraq to take advantage of the efforts reconstruction. ف As Baghdad has allocated $ 1.5 billion to be spent on housing projects and infrastructure last year ». The report pointed out that Baghdad «will invest $ 10 billion over ten years to build 150 thousand homes in one of the key projects that focus by the government in the area of ​​Sadr City, home to about half the population of Baghdad. And monitored reports of specialized real estate need to between two and three million new homes, and live about seven million people in Baghdad, Iraq, the total population estimated at 30 million. It is expected to spend $ 850 million to build facilities and beautify the city ahead of the Arab summithttp://translate.goo...Bny_qCZcOMvbTnQ

Intense competition to head the World Bank 05/03/2012 WASHINGTON (Reuters) Gave U.S. economic Jeffrey Sachs in his name in the arena of the race for the presidency of the World Bank in a campaign in public is not familiar to gain high office. Wrote Sachs in an article in the Washington Post that his credentials make him a better candidate of bankers and politicians, who often put Washington names. And wrote "On the contrary Heads of the World Bank former did not come from Wall Street or political circles of America. I am practitioner of economic development, researcher and writer. "It seemed more aggressive in a phone call when he said" I do not think that this post for amateurs. "and Sachs adviser since the United Nations and many governments on issues poverty, which manages the Research Institute for Development at Columbia University in New York. and leaves Robert Zoellick World Bank president, an official former executive at Goldman Sachs and previously held senior positions in the U.S. government from his position at the World Bank in June. The Bank provides loans and grants to developing countries and emerging economies to fight poverty and the development of their economies. The names that were repeated as potential candidates to replace Zoellick and U.S. Secretary of State Hillarious Clinton and former treasury secretary Lawrence Summers and U.S. Ambassador to the United Nations, Susan Rice. Sachs said: he gained the confidence of many developing countries after it gave her advice on combating poverty and is expected to be nominated by a number of them are in a formal letter soon. There was no comment from the World Bank. . He said he would announce only the names that will be included on the short list before a final decision in April. The right of the member states put forward their nominations until 23 March. http://translate.goo...IRvUOHCQLR9n1LQ

Near the results of investigation into the manipulation of the Development Fund for Iraq funds Topic 7 has been read times 06/03/2012 06/03/2012 Economic Commission proposed the establishment of a National Development Fund and the alternative (dfi) BAGHDAD - Alaa al-Tai Proposed by the Economic Commission Parliamentary fund the development of a national, rather than so-called Development Fund for Iraq (dfi), declared near the announcement of results of investigations on charges of fraud, money that the Fund. This comes at a time of heightened claims of U.S. President Barack Obama to issue a decision for the protection of Iraq's money abroad. Chief Committee Ahmed Alwani: "In case the formation or establishment of a national fund, the money Iraq all will be it .. It can be no share for each individual Iraqi." It is said that "the Development Fund for Iraq was formed after the fall of the dictatorial regime, where Iraq has been under protection of the U.S. to keep the Iraqi funds from the appropriation or requiring States to loans or debt overhang that handed down the dictatorial regime. "said Alwani, that" Iraq's economy is still not clear features and needs to draw a strategy specific enable us to set up a fund Iraqi include Iraqi imports, in addition to the exit country of Chapter VII and raise the international trusteeship for him. "The Cabinet has approved last week, the recommendations of the Ministerial Committee on the Status of a mechanism to ensure the protection of Iraqi funds under its nineteenth meeting On 1/2/2012 and the establishment of the Secretariat of the Council of Ministers issued uncles to all ministries and departments not related to the Ministry of approaching BSA exclusively for all inquiries for the account funds the Development Fund for Iraq, including the issue raised by the Office of Inspector General, U.S. on the safety act the $ (17) billion dollars of Iraqi funds and to consider the Board of Supreme Audit contact while retaining the reference for the Committee to Protect Iraqi funds in this regard and the Foreign Ministry approached the U.S. side through diplomatic channels in order to issue an executive order by U.S. President for the continued protection of Iraqi funds for an additional year as of 22 May 2012. "He also said al-Alwani, said that" Iraqi money or Iraqi imports of oil and other imports, which belong to other sectors in the deposit (dfi) based on a decision of the Security Council to maintain the Iraqi funds, "noting that" it has to do with Chapter VII .. ا As the withdrawal of Iraq from this chapter provides the freedom to dispose of the money the Iraqi or the formation of a special fund it. "And called for al-Alwani to the importance that" there would be a new mechanism for the disposal of money to Iraq, especially after the U.S. withdrawal, "stressing the need to return that money to the Central Bank of Iraq or Commercial Bank and to be Iraq's imports under the tutelage of Iraq. "He added by saying:" The matter needs to be negotiations with the U.S. side, especially as there is a decision by the U.S. President that the U.S. government on the protection of Iraq's money for a year and given to the survival of Iraq under Chapter VII, The Iraq does not currently have discretion Bawardath at the moment, "he says. The President of the Economic Commission representative having a lot of allegations and accusations, which was launched on a rig or withdraw funds from the Development Fund for Iraq without legal cover, declaring that the investigative committees formed in Parliament on charges of withdrawing billions of dollars from the fund of the year 2003 and so far, "revealing a close announcement of these committees the results of its investigation and disclosure of the circumstances and the fate of the money spent. In the meantime, said the legal expert Tareq Harb said the agreement between Baghdad and Washington in 2010 requires the U.S. President Barack Obama issued a presidential order to protect Iraqi funds abroad from claims and lawsuits. He said the war in a press statement that "the agreement of Iraq - the U.S., who took under which Iraq pay $ 400 billion to the United States to settle these claims makes it imperative for Obama to issue an executive order that regard. "He said the war that" the Council of Ministers passed a resolution called for by Obama to issue an executive order to protect Iraqi funds, which began in the fifth month of the year 2003 and is renewed each year and was the last decision dated 05.22.2011, "noting that he" has to be for Obama to issue a a new executive order to protect Iraqi funds abroad from claims and administrative claims before the courts, "explaining at the same time the existence of" a lot of cases spiteful against Iraqi funds, and that the issuance of such a thing to prevent any claim or demand book or confiscation or obtaining funds from Iraqi funds, " . http://translate.goo...jVdUr1hW8th4B-w

Talabani: ready to receive the leaders of the Arab summit On: Tuesday 03/06/2012 10:32 Baghdad / term Said President Jalal Talabani, said yesterday that the capital Baghdad completed all necessary preparations to receive the Arab leaders at the Arab summit participants the end of March current, as pointed out that the leaders of political blocs seek to strengthen the Democratic Action and the consolidation of national unity. Said Jalal Talabani said in a statement issued by his office, yesterday, on the sidelines of his departure to the United States for treatment, and received a "long" version of it, that "preparations for the convening of the Arab summit has been completed and Baghdad is ready to receive the Arab leaders to attend the Arab summit conference the end of March the current. " The Foreign Minister Hoshyar Zebari had announced, the first of February 2012, that the next Arab Summit to be held in Baghdad on 29 March current, stressing that the government is serious about providing security for the leaders and co-chairs at the top, as Deputy Secretary-General of the Arab League, Ahmed Ben Helli, that Iraq is capable of success of the Arab summit, and that he is entering a phase during which he will head the Arab action. And on the national meeting to be held to resolve the political crisis Talabani said that "the national leaders of the blocks confirmed always bias to enhance the democratic process work and strengthen national unity." http://translate.goo...JBgzBImLmvrlNrQ

Economist calls to speed up the deletion of zeros from the currency 04/03/2012 01:24 04/03/2012 01:24 Called an economist Husam Obeid central bank to speed up the deletion of zeros from the Iraqi currency to eliminate the negative actions arising from the density of cash. Chairman of the Board of Directors of banks, economy, investment and finance said that the deletion of zeros from the Iraqi currency has become an urgent need to raise the value of the currency and maintain the balance in the market , indicating that the move to Atntoa any negative repercussions, as it is a very positive step given the strength of the currency and contribute to the elimination of the negative consequences arising from the density of cash as one of the main problems that we have in the banking business, both in the operations of counting currency, sorting categories and destroy the bad of them and the provision of the necessary steps to transfer http://translate.goo...AbMY4TcXol0CdVg

Adviser to Maliki: Iraq needs a decision for the continued protection of U.S. funds abroad Sunday, March 04 / March 2012 12:25 Baghdad {: News} Euphrates said an adviser to Prime Minister Mohammed Fadhil that most of the money and Iraqi oil revenues are deposited in the U.S. central bank, adding that Iraq needs to renew the protection for these funds in order not to allow any company booking them. He said the Sadrist movement led by Muqtada al-Sadr, last Wednesday called on the government of Iraq to Washington to protect Iraqi funds abroad, a mandate to "occupation" of new, while the student government to rid of those funds and return them to the Iraqi treasury, and invited them to open an investigation into theft of the Committee on the reconstruction of Iraq, the Department's U.S. $ 17 billion dollars. Mohammed told the News} {Euphrates on Sunday that "the money and the proceeds, whether cash reserves, Central Bank of Iraq or the Iraqi government's money from oil exports is now present in the U.S. by 90% or more." He explained that "Iraq needs to be protected from lawsuits in the United States the fact that most of the money deposited with," adding that "we need a presidential decree of U.S. renewal of protection so as not to come any company, whether U.S. or non-US to reserve the money and file a lawsuit on them, and thus will be These funds are protected in the United States. " The Cabinet had approved on 28 February, the recommendations of the Ministerial Committee on the subject of Iraqi funds abroad and to assign the Ministry of Foreign Affairs approached the U.S. side through diplomatic channels in order to issue an executive order by the U.S. President for the continued protection of Iraqi funds for an additional year as of 22 May 2012. And protect U.S. decision «Development Fund for Iraq», bank accounts and property of Iraq and the oil resources of Iraq, while trying to companies and persons claiming to be affected by the Iraq disengagement protect the funds in order to bring cases to capture it. و It is noteworthy that the U.S. decision is an additional cover to protect Iraqi funds in addition to the traditional immunity of States before the courts around the world. And began administration of U.S. President George W. Bush after the war on Iraq in 2003 measures to protect Iraqi funds has pledged the U.S. administration through «the Strategic Framework Agreement» the relations between Iraq and the United States supported Iraq in the efforts to restore the funds and help them out of the resolutions of the Chapter VII of the United Nations. إ However, some of those decisions that protect Iraqi funds, which requires resolving the outstanding issues and reach a suitable formula for Iraqi assets are not subject to prosecution, especially revenues from Iraqi oil. It is noted that the revenue currently stored in the «Development Fund for Iraq» established by the Security Council resolution 1483. Ended 14 o'clock http://translate.goo...2Z1ropanyvXNChQ