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Found 10 results

  1. KRG PM meets French Entrepreneurs and Investors Iraq-Business News * 21st February 2023 in Investment, Iraq Industry & Trade News Kurdistan Region Government (KRG) Prime Minister Masrour Barzani met with a number of entrepreneurs, investors, businessmen and representatives of several French companies at the headquarters of the Mouvement des Enterprises de France (MEDEF) in Paris. In the meeting, the Prime Minister highlighted the general economic situation in the Kurdistan Region and the reforms of the ninth cabinet in terms of diversifying the economy and revenue sources, building a strong economic infrastructure, digitalizing public services and providing necessary facilities for domestic and foreign investors. The Prime Minister encouraged French companies to invest more in the Kurdistan Region, in this regard, the Prime Minister expressed the readiness of all necessary cooperation and coordination of the Kurdistan Region Government. At the end of the meeting, the participants expressed their comments and recommendations towards the development of French investment in the Kurdistan Region and the Prime Minister answered the questions and comments of the participants. (Source: KRG) https://www.iraq-businessnews.com/2023/02/21/krg-pm-meets-french-entrepreneurs-and-investors/
  2. KRG to Streamline procedure for Company Registration 14th April 2022 - Iraq Business News By John Lee. The Council of Ministers of the Kurdistan Regional Government (KRG) has approved a draft bill concerning company registration. According to a statement from the KRG, the bill aims to streamline and simplify the process of registering new companies, with the aim of reducing bureaucracy and encouraging investment. (Source: KRG) Link: https://www.iraq-businessnews.com/2022/04/14/krg-to-streamline-procedure-for-company-registration/
  3. Investment Opportunity: Rest Station in Anbar 25th November 2021 in Construction & Engineering In Iraq, Investment By John Lee. The National Investment Commission (NIC) has announced the following investment opportunity: Constructing Tulaiha Future Rest Station in Anbar Province (Link) (Source: National Investment Commission) https://www.iraq-businessnews.com/2021/11/25/investment-opportunity-rest-station-in-anbar/
  4. Once Iraq reinstates, do you all feel like BUND will be a strong bank to own stock in?
  5. Exchange rate stability 03 November 2019 One of the most important tools that contributed to the stability of the exchange rate of the dinar against the US dollar in the parallel exchange market, is the adoption of a method of sale adopts the implementation of proactive sales at the auction sale of the dollar at the Central Bank of Iraq, where the procedures are met to meet the requests of banks participating in the auction a day before within days Official working hours or before the weekend and other public holidays, to ensure the financing of foreign trade and the sale of cash in the following days, and then block the speculators in the parallel market. This approach has been adopted since the 30th of May 2017, the day when the exchange rate in the parallel market witnessed a decline close to the official selling price. In which some speculators tried in vain to exploit the events and data witnessed in the country in order to reap profits. This approach has been very successful in achieving monetary stability that establishes the stability of the exchange rate in the parallel market, paving the way for an attractive environment for foreign investment, and ensuring the attraction of foreign capital, which is usually looking for monetary stability in investment environments, in order to develop economic feasibility studies that can be engaged in The probability of financial calculations of the project away from the fluctuations of the exchange rate is not calculated due to the data that may be experienced in the investment environment. Therefore, the stability of the exchange rate in the parallel market these days in which our country is witnessing peaceful demonstrations withdrew its repercussions on the movement of the market and the nature of prices here or there due to the behavior of opportunists and parasites in the market of goods and services, and is clearly a clear indication of the success of monetary policy in the face of data in such Circumstances. This sends positive messages to the foreign investor about the safe monetary environment and the possibility of establishing feasibility studies for projects based on a fixed exchange rate that is only affected by a narrow range of speculation depending on the location of the data and the time of the event. Hence, the arrangements made for preparing for an attractive environment for foreign investment, following the Kuwait Conference for the Reconstruction of Iraq held earlier last year, and the bilateral agreements concluded by Iraqi governments with many countries and companies are going forward in their timing, and that the possible changes in the political scene will not be It has an impact on the investment environment,👈 which is supposed to be attractive due to monetary and security stability and the development in the banking sector and the legal environment, after it remained a promising environment for sixteen years awaiting the influx of foreign capital.
  6. The Ministry of Finance is taking a package of measures to suppor t the private sector and encourage investment money and business Economy News Baghdad Minister of Finance Maher al-Bayati on Monday announced a number of urgent measures to combat the red tape by facilitating the procedures of the Ministry of Finance departments concerned with the investment file. The Office of the Inspector-General, in a statement read by "Economy News", "The new instructions, came in order to support and empower the private sector and in line with the direction of the State in this context," noting that "there is great seriousness to provide a positive environment to support and encourage investment, Sophisticated mechanisms of action that will eliminate bureaucracy and reduce the routine in the process of completing transactions. " The Inspector General of the Ministry of Finance said that "the new procedures will be based on quick correspondence, the designation of coordinators to follow up on these contacts on the field and get the answers within quick time, in coordination with the National Investment Authority, as well as directing all banks under the Ministry of Finance, Facilitating the completion of transactions of borrowers and investors from the private sector ". Views 72 Date Added 29/04/2019
  7. Why water is a growing faultline between Turkey and Iraq Upstream projects will produce energy and jobs, but Iraq fears for livelihoods downstream Excerpts: They are from different generations, different countries, and live 1,100km apart. Yet the fates of Suleyman Agalday and Nashwa Nasr are intertwined by policies transforming the Tigris River that has irrigated their societies for centuries. Today, both are threatened with displacement. In south-east Turkey, Mr Agalday, 39, will see the ancient caves and rock formations of his hometown, Hasankeyf, flooded as the waters slowly rise because of his government’s controversial Ilisu dam. Engineers are due to start filling the reservoir this month. In the months ahead, homes, gardens and thousands of years of history will be submerged. .... Mr Janabi’s ministry proposed a 20-year project to develop sustainable water practices, at a cost of $184bn. But Iraq, saddled with $71bn of debt and beset by years of low oil prices, cannot afford it. “We need to adapt, but adaptation costs money,” says Mr Janabi. “And that money is not available.” For many along the Tigris, adaptation is not even an option. In Hasankeyf, Mr Agalday awaits the day that he is forced to leave the town — and wonders if his grandmother’s cave will be submerged along with the rest of the lush valley. In sweltering Chibayish, Ms Nasr and her stepsons debate whether to follow neighbours who fled towards Iran’s marshlands seeking a head start against drought. “We won’t survive in a city,” says her stepson Ahmed. “The marshes are our life.” Due to copyright restrictions read the full article here: https://www.ft.com/content/82ca2e3c-6369-11e8-90c2-9563a0613e56 This is something to watch as Iraq tries to implement projects for sustainable water.
  8. Found this opinion piece on Investopedia. I search and didn't see it, but if this has been posted already... http://www.investopedia.com/articles/forex/081314/iraqi-dinar-investment-wise-investment.asp?rp=y&partner=YahooSA Is the Iraqi Dinar Investment a Wise Investment? What does it mean to "invest" in the Iraqi dinar? In simple terms, it's conducted in the same fashion as any currency investment. You purchase ‘x’ Iraqi dinar (IQD) by paying ‘y’ U.S. dollars (or your domicile currency). As with buying stocks, bonds or other currency, you purchase dinar at a given price and then expect the price to rise. The real question, though, is not just "can" you invest in this particular currency, but rather "should" you invest. (Check out Investopedia's large selection of forex tutorials.) Is there the possibility of a scam in such an investment scheme? Financial scams usually have certain characteristics. A few tip-offs include: If the scheme is run and promoted by individual agents instead of known entities; If there are heavy unofficial promotions through internet/emails/telemarketing calls instead of open and fair marketing; If transactions occur primarily through street-based dealers, high variations in available rates, and high markup fees yet promises of overly exaggerated returns. In the case of the Iraqi dinar investment scheme, there might be additional red flags: Reputed banks (e.g. Wells Fargo) abstaining from offering forex trading in Iraqi dinars; States like Utah issuing warnings against such investments; Very wide bid-ask spreads; and Impractical reasoning (discussed below) justifying Iraqi dinar as a "perfectly safe" and "sure-shot high return" investment scheme. All these factors give rise to further doubt (See Investopedia's tutorial on Investment Scams.). The basics of the forex: First, here's a very rudimentary explanation of what it means to invest in a currency. For example, let's say the Iraqi dinar forex rate is 1 US$ = 1160 IQD (as is the case, approximately, in August 2014). If you invest US$1000 in Iraqi dinars with that rate, you will get IQD 1.16 million. After this “investment,” you will wait and watch, expecting the IQD to rise against the US$. If your expectations come true, and the exchange rate improves to a hypothetical value--say 1 USD = 1 IQD, then your investment is now worth US$1.16 million. Under this hypothesis, the investor would become a millionaire by investing US$1000, which grew to US$1.16 million. But what happens if the dinar takes the opposite direction? Say it deteriorates to 1 US$ = 2000 IQD. Now your invested holding of IQD1.16 million is only worth US$580. Effectively, you have lost $420 on your investment. The big question, Is the Iraqi dinar Investment a hyped scam or can any profitability be achieved? First, let’s begin with the positives: Although speculative thoughts about Iraqi dinar Investments have been going around for a long time, there were developments based on reports which led to spike in speculation in IQD-US$ trading (like the statement issued by IMF around mid-2007, in the post-Saddam Hussein era). It mentioned the International Compact with Iraq, which was interpreted in multiple ways and led to further speculation in the Iraqi dinar currency trading. “(Iraqi Authorities) have taken some courageous measures, including the gradual increase in domestic fuel prices and, starting in 2007, the elimination of all direct budgetary fuel subsidies, except for kerosene. Iraq has also embarked on an ambitious structural reform program, in order to make the transition to a more market-based economy.” The article further states: “To combat inflation, action has been initiated on three fronts. First, the Central Bank of Iraq raised its policy interest rates sharply and allowed a gradual appreciation of the dinar. These measures aimed to de-dollarize the economy in order to enhance the central bank's control over monetary conditions, and also to reduce imported inflation.” Just prior to these, the IQD-USD exchange rate was around 1270 (April 2007) and as of August 2014 it is around 1160 – a positive return of around 8.5%. No big significant price moves have been observed since then, considering the long duration. Is the Iraqi Dinar Investment a Wise Investment? What does it mean to "invest" in the Iraqi dinar? In simple terms, it's conducted in the same fashion as any currency investment. You purchase ‘x’ Iraqi dinar (IQD) by paying ‘y’ U.S. dollars (or your domicile currency). As with buying stocks, bonds or other currency, you purchase dinar at a given price and then expect the price to rise. The real question, though, is not just "can" you invest in this particular currency, but rather "should" you invest. (Check out Investopedia's large selection of forex tutorials.) Is there the possibility of a scam in such an investment scheme? Financial scams usually have certain characteristics. A few tip-offs include: If the scheme is run and promoted by individual agents instead of known entities; If there are heavy unofficial promotions through internet/emails/telemarketing calls instead of open and fair marketing; If transactions occur primarily through street-based dealers, high variations in available rates, and high markup fees yet promises of overly exaggerated returns. In the case of the Iraqi dinar investment scheme, there might be additional red flags: Reputed banks (e.g. Wells Fargo) abstaining from offering forex trading in Iraqi dinars; States like Utah issuing warnings against such investments; Very wide bid-ask spreads; and Impractical reasoning (discussed below) justifying Iraqi dinar as a "perfectly safe" and "sure-shot high return" investment scheme. All these factors give rise to further doubt (See Investopedia's tutorial on Investment Scams.). The basics of forex First, here's a very rudimentary explanation of what it means to invest in a currency. For example, let's say the Iraqi dinar forex rate is 1 US$ = 1160 IQD (as is the case, approximately, in August 2014). If you invest US$1000 in Iraqi dinars with that rate, you will get IQD 1.16 million. After this “investment,” you will wait and watch, expecting the IQD to rise against the US$. If your expectations come true, and the exchange rate improves to a hypothetical value--say 1 USD = 1 IQD, then your investment is now worth US$1.16 million. Under this hypothesis, the investor would become a millionaire by investing US$1000, which grew to US$1.16 million. But what happens if the dinar takes the opposite direction? Say it deteriorates to 1 US$ = 2000 IQD. Now your invested holding of IQD1.16 million is only worth US$580. Effectively, you have lost $420 on your investment. The big question, Is the Iraqi dinar Investment a hyped scam or can any profitability be achieved? First, let’s begin with the positives: Although speculative thoughts about Iraqi dinar Investments have been going around for a long time, there were developments based on reports which led to spike in speculation in IQD-US$ trading (like the statement issued by IMF around mid-2007, in the post-Saddam Hussein era). It mentioned the International Compact with Iraq, which was interpreted in multiple ways and led to further speculation in the Iraqi dinar currency trading. “(Iraqi Authorities) have taken some courageous measures, including the gradual increase in domestic fuel prices and, starting in 2007, the elimination of all direct budgetary fuel subsidies, except for kerosene. Iraq has also embarked on an ambitious structural reform program, in order to make the transition to a more market-based economy.” The article further states: “To combat inflation, action has been initiated on three fronts. First, the Central Bank of Iraq raised its policy interest rates sharply and allowed a gradual appreciation of the dinar. These measures aimed to de-dollarize the economy in order to enhance the central bank's control over monetary conditions, and also to reduce imported inflation.” Just prior to these, the IQD-USD exchange rate was around 1270 (April 2007) and as of August 2014 it is around 1160 – a positive return of around 8.5%. No big significant price moves have been observed since then, considering the long duration. Trends further down the line will depend on the current and future developments in the region. Current Situation & Future Prospects of Iraq: Civil war, regional fights and western countries staying away are major concerns of current Iraq, with the extreme possibility of the country splitting into three separate regions. If that happens, the payday may as well never come for investors holding Iraqi dinar and waiting for value appreciation. Backed by the oil reserves, Iraq has the potential to spring back and establish itself as a stable economy. It managed to do so after the eight-year long Iran-Iraq war. But that will need a peaceful, promising business atmosphere to establish investor confidence, which will in turn help revive its economy and bring back the IQD forex rate to realistic levels. Now to the other side of the coin: There are reasons pointing to Iraqi dinar investments being a hyped scam, most important factor being IQD literally trading in the “forex black market” instead of regular banks and trading desks. Additionally, the following incorrect statements are heavily publicized by the propagators of Iraqi dinar Investment schemes: “IQD is heavily undervalued at present and will rise significantly against USD in mid-to-long term due to a pending revaluation bound to happen soon” Supporters of Iraqi dinar Investment are reported to be confusing the two economic terms - Revaluation vs. Redenomination. Revaluation is the actual calculated adjustment made to a country's official exchange rate relative to a chosen baseline (gold or USD). Revaluation results in that currency becoming expensive to the base currency by the factor of adjustment and hence changes the purchasing power of that currency. Redenomination is done in case of high inflation levels by old high value notes being made equal to new small value notes (1000 Old dinars = 1 New dinar). It simply drops off the zeroes keeping the purchasing power the same as before. There are confirmed news items that Iraq did plan to redenominate its currency, but not revaluate. In the absence of any revaluation, there is going to be no change in the forex exchange rate of Iraqi dinar IQD (with or without redenomination). Economists also point out that it would not be beneficial to the Iraqi economy to allow any such value appreciation by the authorities (even by means of revaluation). Doing so will lead to multiple problems for Iraq: The inability to repay the national debts due to revised valuations Literally putting barricades for foreign companies to enter Iraq for business Overall restricted growth in the post-war era, due to ripple effects of above 2. “Similar 'Revaluation' Of Kuwaiti dinar is a historical proof” Some try to encourage investment in the Iraqi dinar based on the success case of the “revaluation” of the Kuwaiti dinar (KWD), which today is a high valued currency. However, this is misleading. While the official Kuwait Government Site does mention a new release of notes following the Iraqi invasion, there wasn’t any revaluation. The new release was to prevent use of stolen and looted old Kuwaiti dinars. In the Kuwaiti example, the pre-war forex rates were retained, simply changing the bank notes. It is also impractical -- and economically impossible -- to “revalue” a currency in such a way that its value increases many fold, without there being a real addition to the reserves. 3. "Post War development may take time, but always gives good results" Examples of European countries like the Netherlands, UK, etc. are cited in this case in an attempt to justify an Iraqi dollar investment. These other countries managed to make a rapid comeback from the effects of World War II, and are today considered among the developed countries. One important fact missed here is that these countries were able to progress faster because the war situation was completely different from the Iraq War. It was then a case of world war where the European countries in question were on the winning side and got maximum support in the post-war aftermath. The case of Iraq, by contrast, is more of a civil war, where there exists a possibility of the country being split into multiple fragments. Even if it stays as one nation, it will still take a good long time for the economy to recover. 4. “Executive Order 13303 gives Americans special legal rights to hold or invest in Iraqi dinar” Order 13303 is for protection of “the Development Fund for Iraq, Iraqi oil products and interests – including ownership by U.S. persons – from any legal attachments or liens”. It does not mention rights or protection for investments in Iraqi dinar, at all, by anyone. 5. The Iraqi dinar is still a good buy, even without a “revaluation” This is based on the strong belief by a few investors that Iraq’s oil reserves and development potential make the dinar a good purchase. Some investors argue that the market could drive a strong appreciation for the Iraqi dinar in the post war era, simply because the huge oil reserves will eventually make it a strong currency. Similar to Iraqi dinar, similar rumors are reported for Vietnamese dong and, most recently, the Egyptian pound. Can a short term high-frequency trader benefit from IQD-USD forex trading? Possibly Yes, but practically No. The reason is that the IQD-US$ forex trading market is virtually non-existent. No banks are offering Iraqi dinars. If you have to buy Iraqi dinars, you can buy them only at select money exchangers, who may or may not be legally registered. Secondly, they charge a hefty markup fee, to the tune of up to 20%, for such transactions. This will erode the profit potential even for short term trading. Can this be a good bet for a long term investment? Forex trading in general comes with a few challenges: Overvalued profit potential based on investor’s misconceptions. The misleading practices of foreign exchange dealers as forex is primarily an OTC market. Further complications and malpractice exist in trading such illiquid and unregulated asset class. Investors' basic ignorance about international forex valuations Loss aversion – investors holding onto loss-making assets further deteriorating the valuations of their investments. How Iraq, its economy and hence the forex rate develop over the long term, is going to be a long term uncertain bet. The Bottom Line: Trading forex currencies is always risky, as external factors at international levels are difficult to control or predict. Unless you are trading on regulated markets or through regulated agents, traders and investors should use extreme caution for trading such currencies.
  9. Parliamentary Economy: preparations for an international investment conference for the port of FawEconomy and Tenders Since 01.27.2016 at 13:00 (GMT Baghdad) BAGHDAD - scales News Announced for the economic and investment commission member of the parliamentary proof Mamouri, on Wednesday, the start of the initial preparations for the holding of private international investment conference the port of Faw in Basra province. Said Mamouri in a statement received / scales News / copy of it, that "the committee embarked months ago to address the relevant authorities in order to speed up the completion of this vital project by investing the way, after we found the inability to provide the necessary funding to him through the budget, which have been adversely affected, down Iraq's imports allocations that rely on oil as a main source of funding. " The statement added, "The prime minister and the Ministry of Transportation approved the transfer of the project by investing, where a committee was formed of all relevant actors include representatives from the economic and investment commission in Parliament and the Council of Ministers and the Ministry of Transport and representatives of the province of Basra and maritime transport, which will begin its meetings soon for the purpose of preparation for an international conference will be held a large investment in Basra called him international companies specialized in this type of project. " He pointed out that "the Commission will examine the possibility of allocating part of the project over the stock system, any direct shares are offered for subscription in the Iraq Stock Exchange here and we will let the citizen to contribute to the project, one of the best types of investment that will return profits to shareholders is good." However, that "what is important is the completion of the project, which will be imports no less important for oil imports, not to mention that it will provide jobs for large numbers of young people and operate related sectors." It ended 29/38
  10. My curiosity first led me to the Iraqi Dinar confusion and then this confusion generated my interest in the Iraqi Dinar. A lot is being talked about the Iraqi Dinar. I was curious to know, why are people talking so much about the Iraqi Dinar on various websites, forums and blogs? As I surfed through various websites, I realized that the currency of the war- torn country Iraq is very interesting. Currently, Iraqi Dinar is far undervalued in comparison to the U.S.D. This lower value of the Iraqi Dinar gives the investors an opportunity to buy the Iraqi Dinar at lower rates today and make huge profits when the Iraqi Dinar retains its value, which was equal to about 2.60 dollars. And then there are various websites that talk about the restoration of the original value of the Iraqi Dinar. I am finding this very interesting, but Might be I am unaware with some Bad things about Iraqi Dinar investments. Need your views on the Iraqi Dinar and the future value of the Iraqi Dinar.
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