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  1. 10/04/2012 13:01 BAGHDAD, April 10 (AKnews) – The finance committee in the Iraqi Council of Representatives today warned about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet. Committee member Shawrash Mustafa said the committee began to study the deterioration of the Iraqi dinar exchange rate and put in place several methods to halt the crisis. The proposals will be delivered to the Ministry of Finance and Iraqi Central Bank (ICB). Mustafa did not disclose details of the proposals, saying only that they are “enough to end the fiscal deterioration”. “Many issues may affect the dinar exchange rate and declining economy, the most prominent is the political side and the effects of what’s happening in the region,” said Mustafa. The Iraqi dinar yesterday registered the lowest exchange rate in three years against the US dollar at a selling rate of 1290 dinars per dollar. The decline in the dinar began early last month after it was stable at a rate of 1190 per dollar. The ICB issued strict procedures on selling hard currency to Iran and Syria due to the international sanctions imposed on the two countries. The ICB last month denied media reports that it stopped selling foreign currency as a measure to protect the Iraqi economy due to the political crisis in the country. The ICB is responsible for maintaining price stability, implementing monetary policy and regulating the banking sector. By Raman Brosk RN/DM/AKnews
  2. So if everyone is told to fill up the day before, doesn't that just boost their profits above normal for that day?
  3. Well it's good to know you read the article before moving. MY title said Opinion, The NEWS ARTICLE title did not.... so once again. I rest my case. Na na na boo boo, stick your head in doo doo.... or something like that. Oh and it was listed in the ECONOMY section of that paper.
  4. Actually it got moved to opinions.... cuz I guess its an opinion... that a newspaper decided to print? Either or its a news article worth reading.
  5. It's an Iraqi Newspaper.... everything is opinion, hardly anything is fact... either or the result is the same. speculation and interpretation. If it came from an Iraqi bloggers site, that would be “opinion” if it came from an Iraqi newspaper that would make it "news" #justsayin
  6. Why was this moved? Its in a newspaper, and has a link. No different than any other Financial expert opinion article.
  7. At a time when the Central Bank announced that its policy on near level will work to stabilize the exchange rate of the Iraqi dinar against the dollar, the average level and leveling will near dinar against the dollar, a number of finance confirmed that implementation is a step in such circumstances in the country of complex things and you need to briefly for the Central Bank would be able to have the ability to even the Iraqi dinar to the US dollar (national news) The follow-up to this subject was the first speaker. Financial expert Munzer optimizer “: it is very difficult in such complex circumstances that even Iraqi dinar rate with the US dollar at the moment at least, explanation of objective for several reasons, notably budget approved shortly before the vast area was given for alchghlih rather than investment which is development of the Iraqi economy to diversify resources that support an estimated 95% on oil exports, and most materials and goods and services imported and unproductive nationally.” optimizer “: The problem other sensitive to Iraqi oil which constitutes such a large proportion of the resources of the country unstable and volatile prices at the global level and now at risk real and serious complications of the political situation in the region and risk transformation into armed conflicts as in Syria and southern Lebanon crisis which relate directly and indirectly with the problem between Iran and the Zionist entity is backed by all the Western countries headed by the United States and there are increasing threats to blow to Iran For its part by threatening to close the Strait of Hormuz, which constitutes one of the main oil exporting ports than would the adverse consequences on the economic conditions thus Iraqi dinar improved led Iraqi. talking (citizen news) “: he finds that excessive expectation is optimistic expressed by one of the senior officials of the Central Bank of Iraq with respect to equal the dinar with the dollar but in spite of all this, I am not drown balchaem because the scenario is analyzed at the highest levels of decision-making at the regional and international level is To modify or change completely because canonical crises when there are opportunities to solve complicated through informal meetings and secret negotiations! , Where many concessions by one of the parties due to internal or external pressure versus specific guarantees and consequently predict default equal to the dollar and the dinar, at least until the current crisis is clearly a fact but I would describe the explosive. and said member of the Finance Committee and Attorney Abdul Hussein Al-yasseri “: that the Central Bank has been able to successfully follow the auction method in the Bank to maintain the value of the Iraqi dinar, adding Al-yasseri,” Central Bank works daily Purchase and sale of Iraqi currency, the dollar, and this leads to a balance between supply and demand curve in relation to the dollar, adding that this curve intersect where prices more demand and prices rose higher bid price in this way fell Central Bank keeps on Iraqi dinar value economy generally. “Al-yasseri said: the Iraqi dinar to equal US dollar depends primarily on the strength and stability of the domestic market as well as political stability and security.”: The Iraqi dinar currency is important and influential in the world market is covered by a large cash reserve of foreign currency estimated at 60 billion dollars and that a very large number, thanks to the policy of the Central Bank. The Al-yasseri talking (citizen news) “that GNP and total enhanced through oil revenues that came to Iraq and $ 300 billion US dollars.
  8. said Deputy Governor of Central Bank of Iraq, the appearance of Mohammed Saleh, said that “the Bank began to take new measures for those wishing to make transfers external to the foreign currency.” Saleh said that “the measures the central bank included a claim traders who wish to transfers foreign currency foreign Aware of the type of trade that wants to withdraw funds because in addition to providing notice of a tax and trade in a maximum period of 15 days, “adding that” these measures do not affect the traders something to it as a whole do not take their time more than one hour but necessary to find out the reasons that is for which transfer funds abroad to sort the trade normal for transfers that are used for terrorist operations or suspicious. “ Saleh continued, “This measure does not include transfer applications for the purposes of travel did not make any change it where it is entitled to withdraw a maximum amount of ten thousand dollars to convert them to the outside without any notices.” The bank Central has denied rumors about stopping foreign remittances of foreign currency.
  9. Hmm, so talks of a unified arab currency, as well as the GCC oil estimates to 65 Trillion? Yeah I think there is enough backing to call the dinar the recognized and unified currency with a revaluation.... Speculation or possiblility?
  10. Create a bank shareholder wheel drives the investment in the country Central Bank called for the separation of the administrative organs of government and private banks and their owners, indicating that the intervention of the management of banks, owners hurt the whole banking process. The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that “government and private banks are still suffering from their owners in the formulation of intervention policies, bank, so banks must separate departments for owners.” He explained that “the owner of the banks, government is the state, so affected by these banks are state policies that interfere with the administration,” adding, “The private banks are subject to the interests of owners who are often from families of the rich are trying to push banks towards their own interests.” The benefit of counting, last Monday, in a statement to “Twilight News” Rafidain and good government, “obstacle” to the development of the Iraqi banking system which has to cope with Iraq draws to a market economy. And the favor of that “intervention Madaom management of the owners of banks reflected negatively on the development and performance.” The Iraqi government is still sticking in its financial transactions which are limited to government banks by 85%. In the same context suggested a member of the Committee of Economy and Investment Deputy Faleh Ziadi the establishment of an Iraqi bank shareholder joint private and public sectors, to boost investment in the country through its financing of projects and to ensure investors’ money. He said Ziadi’s (newsletter) that the wheel of investment in Iraq is still weak as a result of obstacles several most important of the banking sector, being a backward technology and makes little money, which would lead to the reluctance of investors to enter Iraqi territory for the purpose of investment, the fact that the investor looking for an appropriate environment for investment and that keeps on his property from loss. He stressed on the necessity of establishing an Iraqi bank shareholder jointly by Iraqi banks in the sector of government and private sectors to form an Iraqi bank chief with a capital abundant helps to finance investment projects and services in the country through granting of loans, in addition to the employment of staff banker scientific trainees to technology global banking to be a bank discreet contribute in the promotion of the economic process in the country. The member of the parliamentary economic committee to be one of the solutions for the advancement of the process of investment in the country is to support the Iraqi private banking sector, ie, “private banks” by the federal government and to provide all their needs in order to have a real and effective role in promoting investment in the country
  11. Between a number of experts and professionals in the economic aspect that the proposal that was presented at a meeting of finance ministers Arabs in Baghdad to unify the currency of Arab and create a common market will work to maximize economic efficiency within the cluster that you want integration, explaining that he needs to stages prior carried out by these countries. The deputy governor of the Central Bank of the appearance of Mohammed Saleh (range) that the stages that precede the process of currency unification of Arab, including Free Trade Area of the major, as well as Union Alkmarki where the Arab countries tax exemptions among themselves, and be Tarafadtha customs towards countries outside the bloc, the same value results in the exchange of goods between the countries of the bloc’s high value-added be liberated from all customs taxes. Saleh added: The following procedure is known as the Common Market, which includes the Arab countries, indicating the free movement of capital within the market easily in addition to the political unification of the financial and cash between countries, as well as the establishment of a single central bank will issue the single currency. For his part, said the economist as Abdul Hadi’s (long) The economic integration of Arab countries in terms of a single currency will give strength to the Arab economy in general, noting that this procedure is one of the highest stage of economic integration, calling for the need that each one of the these countries through a program of cross-fertilization between Ktabieih wealth and human. Most of the economic levels are inconsistent. He said Abdul Hadi: There are some actions prior to this issue, which is for fiscal policy is created through which Arab bank manages the currency Arabic, and thus monetary policy becomes not subject to Arab governments, which means giving up part of the fiscal policy, asking, I wonder if that States and after the completion of stages Economic eligible capable of waiver, pointing out that this is a major challenge Kalmugod in the European Union. Furthermore, said a member of the Finance Committee in the House of Representatives Majida al-Tamimi (range): This project needs to analytical studies of the economics of the Arab countries, indicating they differ in terms of resources there are countries excel human resources and other viable agriculture, noting that Sudan is the food basket Arab in terms of water and fertile land. Tamimi said: that the results of the single currency will benefit the public through the rotation of the work that result in a cash surplus to draw investments, indicating the need for security and political stability of the Arab countries. He noted that the united Europe when its currency was able to save Greece from the economic collapse that hit all the joints of public life. In the meantime, according to a member of the Economic Committee in the House of Representatives Amer winner that the proposal that was presented at a meeting of Arab finance ministers in Baghdad to unify the currency and the establishment of Arab common market will support the economies of Arab countries, particularly the Iraqi economy. He said Fayez, according to (of the Agency news) should not forget that the principle of the Union means the power, in order to unify Arab stances and political rapprochement and economic between them must be the integration of Arab economic, through the consolidation of common markets and currency Arabic, which will support the economies of all countries Arabic, the fact that these countries enjoy great wealth and in all sectors, whether agricultural or industrial or oil or tourism. He said Fayez: In the event of economic integration Arab and the issuance of a unified Arab currency, this will give economic power to all Arab countries including Iraq, because most Arab countries have the spring and became regimes where democracy after the dictatorship of the object to the establishment of such activities, pointing out that the opportunity is now appropriate to make the Arab economy enjoy development and prosperity. The Ministers of Economy and Finance Arabs who met in Baghdad as part of the meeting of Economic and Social Council of the Arab Summit Conference of Arab, had touched the subject of Arab economic integration and monetary union of Arab and Arab markets make the joint.
  12. Banking community has received the Iraqi decision to caution the Council of Ministers directed to the Iraqi Central Bank, the judge approved the monetary policy to refer to the government for approval, raising fears of a potential intervention in the banking business. The government informed the Central Bank that the Constitution provided that the terms of reference of the federal authorities formulating monetary policy and the establishment of the Central Bank and its management, and requested therefore to provide the monetary policy adopted by the Central Bank to the Council of Ministers for perusal and approval, and stressed the failure to adopt policies in the future without approval of the Council of Ministers By signing the Cabinet Secretary on the Keywords. However, Deputy Governor of Central Bank of Iraq, the appearance of Mohammed Saleh, said in a statement to «life» that monetary policy is linked to the Central Bank, which follows the Parliament, despite the existence of constitutional articles associated with the executive branch. He pointed out the need to develop a clear strategy and powers to manage the monetary and fiscal policy. He said «duty requires knowledge of details of any decisions relating to monetary policy, without being subject to challenge any tendencies of the efforts of the central administration block at the level of cash and issuance, and supervising the work of the banking sector and the civil government and follow the movement of capital». Banking sources and expressed concerns about the consequences of the Iraqi government’s decision on the banking performance and the possibility of the emergence of a type of custody of the sector to make it bound constraints are not conducive to the advancement of his performance. In preparing the Finance Committee in the Iraqi parliament to listen to the Governor of the Central Bank Shabibi for the latest update on the status of cash in the country and his decision to the government official said that the impasse that accompanied the performance of «Central» Iraq in recent years encouraged the executive branch to take the initiative and intervene in the direction in which it deems appropriate to move the performance of the banking sector and its development. To Iraqi banks that are preparing to hold several meetings of the bodies of public and discuss the results of its work last year in conjunction with the World Bank expressed doubts about the difficulties faced by private banks to increase their capital to 250 billion dinars in 2013 (about $ 213 million). The officials in the sector that there are opportunities for the participation of foreign banks in the development of Iraqi banks by buying stakes in it. He expected the Executive Director of the «Association of Iraqi private banks» Abdul Aziz al-Hassoun told «life» that banks start from Lebanon and Turkey to work in Iraq in 2012 widely. He believed that such a move would activate the performance of the banking sector and make it attractive for investments and development of its ability to raise capital his money in the future. And intends to «Bank of North Finance and Investment» double the capital and increase its banking sources suggest that the bank announced over the next month to increase its capital to 210 billion dinars in preparation for submission to 250 billion.
  13. NB2D


    Answer me this oh wise one..... how many hamburgers am I hiding in my pants right now?..... Think LONG and HARD about this one...
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