Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Still number one story on Iraqi Dinar news search.
http://www.zawya.com/story.cfm/sidZW20100315000097/Iraq%20Ctrl%20Bank%20Plans%20To%20Rebase%20Dinar;%20No%20Time%20Fixed%20Yet
If the rebase decision is taken it means a current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.
Not the kind of news I was looking for but it does peak my interest. The article if you noticed was a bit vague and brief.
Keep in mind that in no way is the IQD a get rich quick scheme. This is the longest of the longs. Any "major" jumps in value won't happen for several years.
IMO It's going to require ME and MY counterparts to be sent home from Iraq. Iraq will then have to stabelize it's government and infrastructure. After that takes place (if not before) then it must produce. It doesn't do much good to sign deals with major oil companies if they can't stay alive long enough to get the oil to market. It also doesn't make much sense to pump it into a corrupt bottomless pit. There's a lot of work to be done.
I see way too many people over here and back home salivating over the possibilites. It's good to dream yes, but at what cost. Never spend more than you are willing to lose!
IMO
GLTY
The election buzz has begun. I'm looking forward to seeing the effect it will have on the Dinar. This could go either way. If it dips I'll load up. If it upticks I'll start to smile an uptick or two. Although a major increase is unlikely for a few years it's still a good time to get in!
Reports
Monetary policy to delete the zeros of the Iraqi currency
02/02/2010
Mohammad Karim
Iraqi Central Bank is working on a strategy to delete the zeroes of the Iraqi currency in and out of their face value while maintaining the values of cash and purchasing power.
Central Bank of Iraq adviser to the appearance of Mohammed Salih said that this year will witness the launch of this strategy, stressing that the bank has completed 50% of the preparations that are working on since 2005.
Salih said the strategy was based on the principle of gradual substitution of the Iraqi currency with another is lower than in the nominal value, and pointed out that the positives of this strategy is that it will be less expensive and easier to trade.
For his part, sees Dr. Hilal Al-Tahan, that the application of such a strategy will not cause economic turmoil, or damage to the local market at the present time, while the economic analyst is willing to find satisfaction ????? that the timing of the launch of this strategy is not appropriate, noting that the country's economy must be in a position of strength before the application of such changes.
http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.iraqhurr.org%2Fauthor%2F20785.html
has their been any news of the dinars going up in value any time soon?
Deputies from the Kurdistan Alliance claiming the government to wait to sign oil contracts
By SR By SR
Published 13.7.2008, 14:18 Published 13.7.2008, 14:18
نيوزماتيك/ أربيل Uzmatik / Erbil
دعا عدد من نواب البرلمان العراقي عن قائمة التحالف الكردستاني، الحكومة العراقية إلى التريث في توقيع عقود نفطية جديدة، لحين صدور قانون النفط والغاز الاتحادي، من قبل مجلس النواب لتجنب المشاكل والثغرات في العقود. Some deputies from the list of Iraqi Kurdistan Alliance, the Iraqi government to wait to sign new oil contracts, pending the issuance of the law on federal oil and gas, by the Chamber of Deputies to avoid problems and loopholes in the contracts.
وقال النائب محمود عثمان إن "العقود التي تريد وزارة النفط توقيعها لن تكون قانونية تماما، لعدم وجود إطار قانوني أو مجلس اتحادي للنفط والغاز، ليدرس العقود ويرى ملائمتها للمعايير المتعارف عليها". The deputy said Mahmoud Othman said that "contracts, which wants the Ministry of Oil signed will not be perfectly legal, there is no legal framework or the federal oil and gas, to examine the contracts and finds relevance to generally accepted standards."
وأضاف عثمان في حديث لـ"نيوزماتيك"، أن "من الأفضل الانتظار لحين سن قانون النفط والغاز وتشكيل المجلس الاتحادي للنفط والغاز وشركة النفط الوطنية، لتكون هناك أسس قانونية لإبرام العقود". Uthman added in an interview with "Uzmatik", that "it is better to wait until the enactment of the oil and gas and formation of the Federal Council of oil and gas and oil company, to be no legal grounds for concluding contracts."
وأشار النائب الكردي إلى "وجود جهود سياسية تبذل من قبل الحكومة العراقية وحكومة إقليم كردستان لحل الإشكالات حول قانون النفط والغاز وعقود إقليم كردستان"، مبينا أنه "إذا لم تثمر الجهود السياسية في معالجة مشكلة عقود كردستان، فإن الأمر سيحال للمحكمة الدستورية للنظر في دستوريتها". The Kurdish deputy pointed out that the "political efforts being made by the Iraqi government and Kurdistan Regional Government to solve problems on the law of oil and gas contracts and the Kurdistan region," noting that "if political efforts did not bear fruit in decades to address the problem of Kurdistan, it will be forwarded to the Constitutional Court to consider the constitutionality" .
وأعرب عثمان عن اعتقاده "بشرعية عقود نفط كردستان، لان النفط والغاز ليس من الصلاحيات الحصرية للمركز في الدستور، وهناك حق للأقاليم في إبرام العقود". He Osman expressed his belief "the legitimacy of the Kurdistan oil contracts, because oil and gas is not the exclusive powers of the Centre in the Constitution, and there is a right of provinces to conclude contracts."
وكانت وزارة النفط العراقية قد أعلنت مؤخرا عن نيتها التفاوض مع عدد من الشركات الأجنبية لتوقيع عقود خدمة فنية وإسناد وشراكة لتطوير بعض الحقول النفطية. It was the Iraqi Oil Ministry had recently announced its intention to negotiate with a number of foreign companies to sign contracts and assigning a technical service and partnership to develop some oil fields.
أما المتحدث باسم قائمة التحالف الكردستاني في مجلس النواب العراقي فرياد الرواندوزي فقال إن "موضوع العقود النفطية ما زال مجرد حديث ولم يدخل مرحلة التنفيذ بعد". The spokesman for the Kurdistan Alliance list in the House of Representatives Iraqi pioneering Rawanduz, said "The issue of oil contracts is still just talk did not enter the implementation stage yet."
وأعرب الرواندوزي في حديث لـ"نيوزماتيك" عن اعتقاده بأن "الحكومة المركزية تريد أن تستعد وتهيئ الأجواء لتوقيع العقود، لكن ذلك سيكون بعد صدور قانون النفط والغاز وتشكيل المجلس الاتحادي للنفط والغاز وهو المفضل". He Rawanduz in an interview with "Uzmatik" expressed his belief that "the central government wants to create an atmosphere and is preparing to sign contracts, but this will be after the issuance of the law of oil and gas and formation of the Federal Council of oil and gas is preferred."
واستبعد النائب الكردي أن يصدر قانون النفط من مجلس النواب في الدورة التشريعية الحالية، وتوقع أن "تجري مناقشة القانون في الدورة المقبلة التي ستبدأ الخريف المقبل، في حال أزيلت العوائق الموجودة حاليا بوجه الاتفاق على صيغة محددة للقانون". He dismissed the Kurdish deputy to issue the law of oil from the House of Representatives in the current legislative session, and the expectation that "the law is being discussed at the next session which will begin next fall, if removed barriers existing in agreement on specific wording of the law."
ورأى رئيس لجنة النفط والغاز في مجلس النواب العراقي علي بلو أن "قطاع النفط العراقي بحاجة ماسة إلى التطوير، وتأخر ذلك يلحق ضررا بالاقتصاد العراقي، وهو ما يستدعي توقيع بعض العقود مع الشركات"، إلا أنه اشترط "أن تكون مدروسة بعناية ويجري اطلاع البرلمان على تفاصيلها". The Chairman of the Committee on the oil and gas in the House of Representatives Iraqi Blue, "the Iraqi oil sector in dire need of development, delayed damage to the Iraqi economy, which requires signing some contracts with companies," he stipulated "to be studied carefully and being informed by Parliament Details. "
وتابع عضو قائمة التحالف الكردستاني "نسمع بأن نوعية العقود التي تريد وزارة النفط العراقية توقيعها ستلحق ضررا بالاقتصاد العراقي على المدى البعيد، ولا ادري من سيتحمل الخسارة، لذا نفضل أن يصدر القانون حتى نتجنب أية مشاكل أو ثغرات في توقيع العقود". He continued, a member of the Kurdish Alliance List "to hear that the quality of the contracts that you want the Iraqi Oil Ministry signed the detriment of the Iraqi economy in the long run, I do not know of the loss will have to bear, so we prefer to pass the law in order to avoid any problems or gaps in signing contracts."
وأعربت النائبة رابحة حمد عبد الله في حديث لـ"نيوزماتيك"، عن تأييدها "لصدور قانون النفط والغاز الجديد، ومن ثم توقيع العقود مع الشركات"، لكنها في الوقت نفسه تأسف لان هناك تأخيرا في "الاتفاق على إرسال القانون إلى البرلمان لدراسته"، ثم تساءلت عبد الله "هل يمكن أن يؤجل تطوير البلد وتحسين حياة الناس لوقت غير معروف، بسبب عدم الاتفاق على قانون النفط". Her winning MP Hamad Abdullah in an interview with "Uzmatik," expressed support "for the issuance of the law the new oil and gas, and then sign contracts with companies," but at the same time regretting that there are delays in "the agreement to send the law to parliament for consideration," then Abdullah asked, "Can postpone the development of the country and improve people's lives for a time unknown, due to a disagreement over the oil law."
واختتمت عبد الله حديثها بالقول أن "على الجميع إبداء اهتمام بالغ بالموضوع، سواء بتسريع وتيرة الاتفاق على نسخة من القانون، أو بحث توقيع عقود بشرط أن تكون غير مخالفة للدستور وأن تكون شفافة ويجري اطلاع الشعب عليها". Abdullah concluded her speech by saying that "everyone show keen interest in the topic, whether to accelerate the pace of agreement on a copy of the law, or research sign contracts provided that they are not in violation of the Constitution should be transparent and being informed by the people."
يذكر أن مجلس الوزراء العراقي كان قد صادق بالإجماع مطلع شهر شباط من عام 2007 على قانون النفط والغاز، لكن التحالف الكردستاني اعترض على القانون بعد إجراء مجلس شورى الدولة تعديلات على بعض فقراته، التي اعتبرها التحالف الكردستاني غير دستورية، كما أدى احتواء القانون على بنود تسمح للإقليم والمحافظات غير المرتبطة بإقليم، بتوقيع عقود استثمار نفطية دون الرجوع إلى المركز، إلى رفض الكتل السياسية الأخرى في البرلمان العراقي الذي اعتبرته خطوة لتقسيم العراق. It is noteworthy that the Iraqi cabinet had unanimously endorsed the beginning of the month of February in 2007 to the Law on oil and gas, but the Kurdistan Alliance objected to the law after the state council amendments to some paragraphs, which was deemed unconstitutional Kurdistan Alliance, has also contain clauses allowing law Of the province and provincial-related province, have signed contracts for investment of oil without reference to the centre, to reject the other political blocs in the Iraqi Parliament, which viewed it as a step to partition Iraq.
In two months the Iraqi Dinar will go international???
POSTED BY BAMBABOO>>>>>
I don't make it a habit to post in the speculation section, but I found a curious comment on another forum (not a dinar forum) that I found interesting. The poster was listing all the good things that have taken place since the surge. He listed fact after fact then made the dinar comment like it was fact also. I thought I would post it to get thoughts on it. Again bear in mind this did not come from a dinar site, his post was more for congratulating Bush for the surge success, on an election forum. He is so informed about Iraqi news it does make me wonder if he is a dinar holder though.
By: Darkrepublican
Since the surge has taken place all sorts of good things have happened in Iraq.. The United Arab Emirates have forgiven 7 ½ billion dollars of Iraqi debt. This is a huge development. Not only do the seven sovereign countries of the UAE acknowledge Iraq as a country on the way of healing but forgiving this debt is like giving the country a loan. The Iraqi government is up and running more efficient than the Democrats running our Congress. On top of moving to transfer the oil wealth to its citizens in a program that rivals how the State of Alaska distributes its wealth, it has proposed to use its oil wealth to send 10,000 high school students to study abroad. This is how the tiny country of Great Britain controlled the whole world at one time. Candidates will be selected by their grades not by sect. This is huge as it points to a situation that will be ruled by progress instead of family position.
Last week the Iraqi Prime Minister proclaimed that terrorism has been defeated. The number of foreign fighters killed of captured have dwindled down from 120 per month to just 20. The Iraqi citizenry, feeling comfortable with their army, is leading their soldiers to the bad guys. The Bagdad Airport has purchased four new Boeing 747 jets to revive a cornerstone of their economy that was the jewel of the Arab world. The last of the 550 metric tons of yellowcake uranium purchased from Africa to form the crust of the nuclear program under Saddam has been transferred to the Savannah River plant for safekeeping. From there the uranium will be sold to Canada to make electricity…Three U.S. brigades have been released because of the reduced violence. 15 of the 18 Benchmarks have been met. The Iraqi government has put in an order of 1.8 billion dollars of weapons from factories in the United States. The Iraqi government has issued no bid contracts to Exxon, Chevron, BP and Shell to upgrade their oil fields with a target to raise their production from 2.5 mil bbl to 4.5 mil bbl. Because of the high price of oil the Iraqi government has put in huge orders of durable goods from American companies and has promised to help us by not only increasing the oil on the international markets, but to dispatch direct shipments to us, bringing down the price. In two months the Iraqi Dinar will go international competing with the Euro, Yen, and other currency, credit cards and personal checks are to be issued as electronic money transfers take hold. The Iraqi stock market up since last year is offering it stock to its citizens and personal investments have increased…..
The disappearance of 300 million dinars the University of Mosul
The disappearance of 300 million dinars, the University of Mosul, the explosion of a patrol of the multinational forces
16/07/2008
Unidentified gunmen attacked a building of the Faculty of Administration and Economy at the University of Mosul, and stole more than 300 million Iraqi dinars from the treasury college before running away.
A source from the University of Mosul asked to remain anonymous, reported that unknown armed men who robbed last night, evening the building of the Faculty of Administration and Economy at the University of Mosul, and beat two guards and broke the college safe containing the salaries of college professors and employees of the College, and stole more than 300 million Iraqi dinars .
The spokesman added that the fight against terrorism and Iraqi police surrounded the college and some associate detained for investigation and know the circumstances of the incident. It is worth mentioning that the University of Mosul under heavy guard by the guards (FPS), and surrounded by high walls interspersed with five gates Chairperson of the entry and exit of students and associate members, experienced in the past few days a number of security incidents and assassinations affected some students and university professors.
Arabic...
http://www.burathanews.com/news_article_45833.html
check out the last sentence....hmmmmm
An economic expert: The coming period will witness a greater investment in securities
--------------------------------------------------------------------------------
BAGHDAD / Hussein Hashem
Said Yahya Al expert in securities that invest in securities in place in Iraq for a long time .. But today directed the State Economic there will be investment in the securities sector wider than before, because we believe there are many companies willing to contribute and do this activity in the area of investment securities from here, there was a need to establish a consortium of investors, whether individuals or companies, investment .. And then began a series of specialists to establish the Union of investors in securities sponsor of the works in the area of investment in this area ..
The main objectives of the Union in protecting members and preserve the value of the shares and avoiding losses of national wealth may be obtained in future stock market. And reducing the effects of speculators, including creating economic crises in the market as well as reducing the effects of the mediators, emergency and expand market activity in the area of securities dealings to include the expansion of the Iraqi and attract foreign investors .. It is then upgraded the stock market performance levels in Iraq to the world market ..
-- How can we promote a culture of the bourse in Iraq and what is their role in supporting the national economy?
* Governing Council put in front of the Russian plan of cooperation and coordination with all relevant local and foreign countries to benefit from their experiences and develop training courses and rehabilitation to improve understanding of fixed assets investment activity ... As one of the joints economy task to attract the national economy and I think this part of a continuing need to educate and inform the investors of all developments in this area .. And the Constituent Assembly a plan the event begins to complete the legal requirements of incorporation we will start to communicate with non-governmental civil third Arab and international levels. Our goals are determined in the field of securities may meet exclusively with our unions in a particular area and there will be cooperation for the economic advancement of the process. We also have cooperation with the specialized associations such as the Iraqi businessmen and the Federation of Iraqi Chambers of Commerce and the Federation of Iraqi Industries and other unions and economic organizations in Iraq to protect investors in securities. The first objective is to give real value of shares traded in the market ..
http://www.almadapaper.com/paper.php...page&sid=46770
An economic expert: The coming period will witness a greater investment in securities
--------------------------------------------------------------------------------
BAGHDAD / Hussein Hashem
Said Yahya Al expert in securities that invest in securities in place in Iraq for a long time .. But today directed the State Economic there will be investment in the securities sector wider than before, because we believe there are many companies willing to contribute and do this activity in the area of investment securities from here, there was a need to establish a consortium of investors, whether individuals or companies, investment .. And then began a series of specialists to establish the Union of investors in securities sponsor of the works in the area of investment in this area ..
The main objectives of the Union in protecting members and preserve the value of the shares and avoiding losses of national wealth may be obtained in future stock market. And reducing the effects of speculators, including creating economic crises in the market as well as reducing the effects of the mediators, emergency and expand market activity in the area of securities dealings to include the expansion of the Iraqi and attract foreign investors .. It is then upgraded the stock market performance levels in Iraq to the world market ..
-- How can we promote a culture of the bourse in Iraq and what is their role in supporting the national economy?
* Governing Council put in front of the Russian plan of cooperation and coordination with all relevant local and foreign countries to benefit from their experiences and develop training courses and rehabilitation to improve understanding of fixed assets investment activity ... As one of the joints economy task to attract the national economy and I think this part of a continuing need to educate and inform the investors of all developments in this area .. And the Constituent Assembly a plan the event begins to complete the legal requirements of incorporation we will start to communicate with non-governmental civil third Arab and international levels. Our goals are determined in the field of securities may meet exclusively with our unions in a particular area and there will be cooperation for the economic advancement of the process. We also have cooperation with the specialized associations such as the Iraqi businessmen and the Federation of Iraqi Chambers of Commerce and the Federation of Iraqi Industries and other unions and economic organizations in Iraq to protect investors in securities. The first objective is to give real value of shares traded in the market ..
http://www.almadapaper.com/paper.php...page&sid=46770
Iraq's Kurds to make Baghdad new offer on oil law
--------------------------------------------------------------------------------
Iraq's Kurds to make Baghdad new offer on oil law
DUBAI, June 3 - Iraq's Kurdish regional government will make fresh proposals to Baghdad in two weeks to iron out differences over the federal oil law, the region's prime minister said on Tuesday.
Disputes between the largely autonomous northern region of Kurdistan and Baghdad have delayed the law for over a year. Iraq needs billions of dollars to modernise the oil industry and raise output after decades of sanctions and war, but uncertainty over the law has stalled international investment.
"Very soon, about two weeks from now, we will start negotiations to finalise the agreement," Barzani told reporters at a news conference in Dubai.
The two sides will discuss a package of proposals covering the oil law, revenue sharing, the functions of the oil ministry and the national oil company, Barzani added.
"It is important for all of Iraq," he said. "Without that law oil companies cannot come into Iraq."
Earlier, the Kurdish region's top energy official Ashti Hawrami said he hoped Iraq's parliament would pass the law this year.
Barzani said he would also hold talks with the federal government over Baghdad's decision to halt oil exports to Austria's OMV and South Korea's SK Energy after the companies signed oil deals with the Kurdish region. Baghdad claims the deals were illegal.
"We don't think they have the right to stop these deals," Barzani said.
Baghdad controls Iraq's export pipelines, and until the Kurdish region reaches an agreement with the federal government it is unable to produce more oil.
The Kurdish region was ready to pump 150,000 barrels per day of oil, Barzani said. Actual output is just a few thousand bpd for the local market.
Norwegian producer DNO is producing from wells in the Kurdish region and has built a pipeline to hook up to Iraq's main northern export route to Turkey, but has yet to receive an export license from Baghdad.
Barzani said that the region was not exporting oil without Baghdad's consent. "We are not selling oil to anybody," he said.
The Kurdish region aims to raise output to 1 million bpd in around five years.
Iraq has the world's third largest oil reserves at around 115 billion barrels, although the country's deputy prime minister Barham Salih said in April reserves could be as much as 350 billion barrels.
Little exploration has been carried out in areas such as the Kurdish region. Hawrami estimated potential oil reserves in the region at around 45 billion barrels
http://malaysia.news.yahoo.com/rtrs/...w-955c2a1.html
CBI SITE DOWN---IQD -35 PIPS? IS THIS TRUE ???? LOOK AT THIS.....
http://www.wcrane.com/iraq/
Economic event: Economists call for the speedy establishment of the Fund generations
2:46 pm
BAGHDAD / long
Economists researchers called those responsible for expediting the founding generations fund, which was mentioned in the draft law of Iraqi oil and gas in order to work towards securing a share of oil wealth for future generations .. They pointed out in conversations that oil wealth is the wealth of everyone young and old and this requires the formation of investment funds manage this fund and invested in projects guaranteed, long-term. Finds a researcher at the Centre for Studies and Economic Research at the University of Baghdad, Amir Abdul Karim, these projects will be successful if a funeral Programme paves the ideal to start a fund through generations based on data reported that economic returns of these projects oil revenues exceeded the same in other States.
He says that the idea of fund future generations a good idea as it would be a solid base can be relied upon in time of economic crisis but the process must be very precise establishment of the fund through a Preview of the structures which will consist of all of them in addition to the establishment of committees affiliated operate under the management of specialized high Because it represents a base on which the entire project as well as material resources which I believe that the fiscal surplus enjoyed by provided by Iraq. He stressed the need to eliminate the administrative and financial corruption to ensure greater financial resources for future generations.
Abdul Karim pointed out that the state can also invest the fund to buy shares of major international companies and encouraging foreign investment and provide substantial funds to the Fund.
He continued, it is necessary to look at the experiences of other countries in this area where Russia had established four years ago stabilization fund, who devoted primarily to save money resulting from the increase in oil prices and not included in the general budget to make available to future generations in anticipation of the depletion of oil wealth. He asked government agencies in the composition of the investment funds administered by the Fund and its investment in strategic projects guaranteed.
For its part, noted professor of economics at the Faculty of Administration and Economy at Mustansiriyah University Inas unitary that natural resources regardless of their size, they impose on the government save some resources now available to meet the needs of future requirements. And say that I agree with everyone in Iraq and the enormous wealth but there is no unanimity on that wealth can To maintain the same level, which is not pessimistic, but the economic base has shown that traffic can be measured pace to achieve success and that savings is the basis of happy life. Adds must be the amount allocated to the fund from surplus budget of the State Assembly, and I think it is very difficult to determine the percentage of Certain allocated to this fund is speculative, but the amount must be calculated accurately privatization after a specialized economic studies conducted in this area, but should not overlook the development of human resources that need to kind of development, and capacity utilization. Led to the idea of future generations fund raised in the draft law of oil and gas without the see the light of day until now, a reserve designed to repel the forces working against the wall of future crises in the state's resources or in the case of oil revenues decline as it is applied in some Arab and foreign countries. Stressing it clear that the Fund's simply a place where the spare funds, but rather learn from the experiences of a global pioneer in the management of investment funds in projects generate financial returns. As Dr. Nabil al-Saidi says that a good idea as it works to serve the citizens for a long period of time, where the Fund on a scientific basis The idea clearly defined to avoid confusion in the process of development, and therefore must be a fund based on solid ground services in the future to overcome any obstacles or impediments This is the first stage, but in theory into force must entrust this process to the government alone and in cooperation with the specialized banks. He added: The state living abundance in the economic rates of high oil prices which reached the state general budget of $ 70 billion, according to government spokesman on Skinner, and therefore we can use this abundance to serve such a fund. He explained that the post-phase idea is to build the construction phase, implementation and went on I think that the Ministry of Planning and Development Cooperation Fund can supervise the body through the development of the Fund to operate all their potential and their cadres to serve this idea. Saidi pointed out that it should be emphasized that this program is not a short-term It is a strategic programme for the coming years, the government should identify the amount of financial draw of the Fund annually to operate without a stable pace influenced by economic changes. It is noteworthy that the fund generations mentioned in writing in the draft law of oil and gas Iraqi funds help to ensure future generations to cope with living conditions.
http://www.almadapaper.com/paper.php?source=akbar&mlf=interpage&sid=46710