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This e-mail is being sent to you to notify you that the Iraqi Dinar/U.S. Dollar exchange rate has changed. According to the Iraqi Central Bank website (www.cbiraq.org) the exchange rate has changed from:
1273/Dinars to the US Dollar or $785.55 per million Dinars
To
1272*/Dinars to the US Dollar or $786.16 per million Dinars
* as of 4/2/2007 4:11:06 AM CST as per Central Bank of Iraq website
And with any order made through this email, you will receive a complimentary 10k and 5k note. click here
Public Company Buys Dinar
--------------------------------------------------------------------------------
Sebastian River Holding’s Inc. Announces Its First Foreign Currency Investment; 100,000,000 Iraq Dinar
SEBASTIAN, Fla.--(BUSINESS WIRE)--Sebastian River Holding's Inc. (Pink Sheets: SBRV), today announced that the company has joined the United States and has invested in the Iraq economy, by purchasing 100,000,000 Iraq Dinar.
The company feels that this investment will increase dramatically in the near future. As of today 1,000,000 Iraq Dinar is equal to $784.93 USD, according to the Central Bank of Iraq (CBI). Since it is nearly impossible to purchase directly from CBI, 1,000,000 Iraq Dinar is being sold as high as $1340 USD here in the United States.
Iraq news sources, state that a revalue of the Iraq currency is in the near future. Prior to war with Iraq, the Iraq Dinar was valued as high as $3.20 USD per Dinar. This means 1,000,000 Dinar was worth as high as $3,200,000 USD back when all was well between the US and Iraq.
“We are on our way to become large investors in foreign currency,” stated Daniel Duffy, President/CEO of Sebastian River Holding’s Inc. “Since Iraq has the largest natural gas reserve in the world and is the 2nd largest proven oil reserves in the world, with over 100,000,000,000 barrels of oil, the company feels that the Dinar reaching 1 Dinar per US dollar is feasible. If the rate goes 1 Dinar for 1 US Dollar, this would give Sebastian River Holding’s Inc. a profit of well over $99,000,000 from this one investment.”
Sebastian River Holding’s Inc. will soon announce other foreign currency investments and updates on the two acquisitions of Pelican Capital Mortgage Lending, Inc. and TCI Electronics, Inc.
Forward-Looking Statement
This Press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
Contacts
Sebastian River Holding's Inc.
Daniel Duffy, 772-581-7370
Email: Sebastianholding@aol.com
I believe these are the Final Investment Laws......I think this is it? not sure though.....but the site lists all the laws so far
الارInvestment Law لChapter I
التعاريفDefinitions
المادة (1) غير ذلك .Article (1) : The following terms wherever it appears in this Act meanings corresponding below unless the evidence shows otherwise.
أ .A. .Council : Council of Ministers.
ب .B. .The National Authority for Investment : is the body established under the law is responsible for the development of national policies for investment and the development of controls and monitoring the implementation of controls and regulations in the field of investment and specific investment projects strategic outlook of the federal nature exclusively.
ج .C. .The Territory : Investment Authority in the province is responsible for planning program and the granting of leave to invest in the province.
د .D. .Authority : preserving the investment in the province in the territory of irregular responsible for the planning and investment granting leave investment in the province.
هـ .E. الة.Body : National Authority for Investment Authority or maintain as the case may be.
و .And. ر .Chairman of the Board : Chairman of the National Authority for Investment.
ز .G. القانون .Project : Economic activity covered by the provisions of this law.
ح .H. والكليات.Assets : machinery, appliances and equipment and machinery, supplies and the number and modes of transport, supplies and office furniture for use exclusively in the project, furniture, furnishings and supplies hotels and tourist cities, hospitals, schools and colleges.
ط .I. .The foreign investor is : who is not a citizen of Iraq in the case of a person real and recorded in a foreign country if the people, legally or morally.
ي .J. الممعنوياً او حقوقياً .Iraqi investor is : who carries Iraqi nationality in the case of a real and recorded in Iraq if the people, legally or morally.
ك .K. النافذة .Taxes and fees : all kinds of fees and taxes imposed by the laws in force.
ل .Told. للم .Design : energy production capacity is designed as a unit of time (hour, day ... Etc.), as evidenced by the documents received from the processor with the machines and the economic feasibility of the project.
م .M. .Portfolio investment : a series of investments in stocks and bonds.
ن .N.. الا .Investment : is the recruitment of money in any activity or project economic legitimate beneficial to the country.
الاهداف والوسائلEnds and means
:Article (2) The purpose of this Act is to Mayati :
.First : the promotion of investment and the transfer of modern technologies to contribute to the development of Iraq and development and to expand its productive base and service and diversification.
والاجنبية .Second : to encourage the Iraqi private sector and foreign investment in Iraq through the provision of necessary facilities for the establishment of investment projects and to promote the competitiveness of enterprises covered by the provisions of this law in the domestic and foreign markets.
للعراقيينThird : the development of human resources according to market requirements and providing job opportunities for Iraqis
تثمرين .Fourth : the protection of the rights and property investors.
.Fifth : the expansion of exports and strengthening the balance of payments and trade balance for Iraq.
تعتمد القانون :Article (3) adopt the following means to achieve the objectives of this law :
اولاً .First : project grants covered by the provisions of this law privileges and guarantees necessary for the maintenance and development through the provision of support, including believes enhance the competitive edge of those enterprises in the domestic and foreign markets.
.Second : project grants leave the winner of investment from the additional facilities and exemptions from taxes and duties, according to the contents of this law.
الفصل الثانيChapter II
الهيئة الوطنية للاستثمارThe National Authority for Investment
وهيئات الاستثمار في الاقاليم والمحافظاتThe bodies of investment in the regions and governorates
المادة (4) :Article (4) :
اولاً : .First : Under this law, a body called the (National Authority for Investment) have personality and moral authority or the Chief of empowered and be responsible for the development of national policies for investment and development plans, regulations, controls and control the application of these controls and regulations in the field of investment and specific investment projects of strategic nature of the federal exclusively.
ثانياً : Second : manages the National Authority for the investment board is composed of nine members with expertise and jurisdiction for a period of no less ferocious than ten years and possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
.Third : A-nominate the Council of Ministers request of the President of the President of the rank of minister and the vice-president and a deputy minister for a period of five years and presented to the House of Representatives for approval.
ب – .B-appointed head of the Council of Ministers of the four members for a period of five years, a general manager.
ج .C-selected by the President of the Council of Ministers of three members from the private sector for a period of five years after nomination by the President of the National Authority for Investment and determine the remuneration in accordance with the rules of procedure.
د – عند.D-at the expiration of the term of office of any member of the National Authority for Investment mentioned in (a, b) of this article, other than in cases of impeachment and resignation by the President of the Council of Ministers Petensephm any hand with the government retaining Pedrjthm career transmitted mentioned in paragraph (a) of this article to retire at the Non - Tinsephma post to tie Drjthma career.
هـ -.E-to the House impeaching President of the National Authority for Investment and Deputy directly or at the request of the Prime Minister's grounds.
و – .- And of the Council of Ministers to dismiss any of the members of the National Authority for the investment of others or replace other in the absence of commitment and regulations Bamaair body.
ز –.G-the board of directors of the National Authority for Investment invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
ح – ترتبط.H-linked to the National Authority for Investment Chairman of the Council of Ministers.
ط – .I-determined system of salary and benefits to employees of the Board, upon the proposal of the President of the National Authority for Investment and the decision of the Prime Minister.
لها في .Fourth : The status of the National Authority for Investment in Baghdad and to appoint representatives to the regions and provinces.
.Fifth : the National Authority for the development of investment policy overall national strategy for investment and identify the sectors most important and prepare the road investment projects in Iraq in light of the information obtained from the bodies of investment in the regions and provinces are also lists of investment opportunities in the investment projects and strategic outlook with the federal preliminary information on these projects and provide for those interested in investing.
المادة (5) :Article (5) :
لها .First : the regions and provinces in the territory of irregular formation of the investment in the areas under its control with powers granted leave investment planning and investment and encourage investment and to open branches in areas under its consultation with the National Authority for the investment to ensure that the legal requirements.
افلاسه .Second : the provincial and district bodies of seven members, including at least one president and his deputy with experience and competence for no less ferocious than seven years, possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
فظة ولوائح الهيئةThird : The boards of the province and provinces that have not organized in the territory of the composition of the territory and the preservation and removal of a member of the commitment in the absence of standards and regulations body
يةFourth : coordinate regional and provincial bodies to work with the National Authority for Investment and consult and coordinate with local governments regarding the plans and facilities investment
.Fifth : the bodies of regions and provinces to develop their investment would not conflict with the investment policy of Yugoslavia and prepare lists of investment opportunities in the areas under its control with the preliminary information on these projects and provide for those interested in investing.
.Sixth : linked to the Prime Minister of the province and territory under the control of the territory and linked to the preservation and the Governor under the control of the preservation of Aitaardh including the provisions of this Act.
.Seventh : the board of directors of provincial and district invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
المادة (6) :Article (6) :
الهيئة .Adopt the electronic correspondence in addition to routine correspondence between them and the official bodies relating to the work and activity of the body through local networks or the Internet, according controls determined by the body.
المادة (7) :Article (7) :
أ – ت.A body-accept requests leave of investment projects which are less capital than the minimum established by the Council of Ministers, the Minister of the Territory, as the case may be issued under the proposal of the body.
.B-Commission must obtain approval from the Council of Ministers before granting leave if the value of an investment project more than two hundred and fifty million dollars.
ج .C-Body decide on the requests for leave to invest in a term not exceeding five (45) and 40th days of the date of submission of the application.
د – .D - The decisions of the Board relating to investment projects adopting binding for the purposes of this Act.
ال(8) :Article (8) :
للدولة .Of the annual budget independent resources consist of the amounts allocated from the state budget.
المادة (9) :Article (9) :
:Body aims to encourage investment by working to Mayati :
لها .First : to strengthen confidence in the investment environment and identify investment opportunities and encouraging investment and promoting them.
ثانياً.Second : simplifying registration procedures and leave for investment projects and the follow-up of existing projects and the priority given to them in the achievement of the formal completion of the procedures and answer requests for investors and obtain the necessary approvals for the investor and the project.
.Third : the creation of a single window at the National Investment and other provincial and district bench authorized delegates of the ministries and members nominated by provincial and district councils according to the conditions and the relevant authorities will grant leave and obtain approvals from other parties in accordance with the law.
بذلك .Fourth : the provision of advice and information and data to investors and issuing bulletins so.
وتها .Fifth : the development of programs to promote investment in the different regions of Iraq to attract investors and implementation.
.Sixth : facilitate the allocation of land required for setting up and letting projects without determined by the body to coordinate with the relevant authorities.
سابعاً .Seventh : work on the establishment of a safe investment with the consent of the Council of Ministers.
.Eighth : encourage the Iraqi investors through the provision of soft loans and financial facilities for them in coordination with the Ministry of Finance and the use of banking institutions with the requirement that any investor who is a loan, using a number of the unemployed Iraqis commensurate with the size of the loan.
.Ninth : any other tasks related to the nature of work assigned to it by the Council of Ministers.
الفصل الثالثChapter III
المزايا والضماناتAdvantages and guarantees
المادة (10) :Article (10) :
يتمتع.Enjoy investor regardless of the nationality of all the privileges and facilities, guarantees and subject to the obligations contained in this Act and the Iraqi and foreign investor for the purposes of housing projects in return for the right to keep the land between him and the owner of the land without speculative land according to rules set by the National Authority for Investment and with the consent of the Council of Ministers, and facilitate the allocation of land for projects housing ownership and housing units to the Iraqis after the completion of the project.
(11) :Article (11) :
الاتية :Investor enjoy the following benefits :
.First : get capital introduced to Iraq and proceeds according to the provisions of this Act and instructed the Central Bank of Iraq and a convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters.
ثانياً ::ـSecond : the right to the foreign investor :
أ*- التداول .ا*-Iraq circulation in the market for securities and equity securities listed therein.
ب - .B-composition of investment portfolios in stocks and bonds.
Third : the rental of land for the project or for the duration of Almsatha where the investment project based on that not more than fifty (50) years, renewable for approval of the Commission and take into account in determining the term nature of the project and its usefulness to the national economy.
.Fourth : insurance investment project with any insurance company or a foreign national it deems appropriate.
المجاز .Fifth : the opening of accounts in Iraqi currency or foreign or both with one of the banks in Iraq or outside of the project metaphor.
المادة (12) :Article (12) :
يأتي :This legislation guarantees to Mstthmerma following :
.First : the right of the investor to the recruitment and use of non-Iraqi workers in the absence of the possibility of using Iraqi possesses the necessary qualifications and unable to perform the same task, according controls issued by the body.
.Second : granting foreign investors and workers in the investment projects of the non-Iraqis the right to stay in Iraq and to facilitate entry and exit to and from Iraq.
او .Third : Non confiscation or nationalization of an investment project under the provisions of this Act or both part except Maisder sentenced court ruling.
.Fourth : the technical and administrative staff-Iraqis in the project to change their salaries and entitlements out of Iraq in accordance with the law after payment of debts and obligations towards the Iraqi government and all other quarters.
المادة (13) :Article (13) :
اي .Any amendment to this law does not have any retroactive effect prejudice, exemptions and guarantees the rights established thereunder.
الفالرابعChapter IV
ستثمرInvestor obligations
ا (14) :Article (14) :
:Bmayati committed investor :
أولاً :.First : notice of the National Investment Authority or territory or maintain as the case in writing immediately upon completion of the installation and processing assets for the purposes of the project and the date of commencement of business.
ثانياً : ونSecond : accounting fundamentalist exhaustive legal syndicated accountant in Iraq in accordance with the law
.Third : to study the economic and technical feasibility of the project and any information or data or documents requested by the Commission or other competent bodies in the balancing of the project and progress made in done.
لهذه المواد .Fourth : the maintenance of records of materials imported for the project and exempt from customs accordance with the provisions of the law determining the terms of the conduct of these materials.
العراقي .Fifth : preserving the integrity of the environment and our commitment to the quality control systems in place in Iraq and the global regulations adopted in this area and the laws relating to security, health, public order and the values of Iraqi society.
.Sixth : commitment to the Iraqi laws in force in the areas of salary, leave, hours, working conditions and other minimum.
سابعاًالاجازة .Seventh : commitment to the progress of work on the compatibility provided by the investor with the fact that the disparity is not the time more than six months, the National Authority for the investment put penalty clauses in the event the duration of six months and the withdrawal of the holiday.
ثامناً.Eighth : the training of employees of the Iraqis, rehabilitation and increase their efficiency and raise the skills and abilities and priority will be given to the recruitment and use of Iraqi workers.
الفصل الخامسChapter V
الاعفاءاتExemptions
المادة (15) :Article (15) :
أولاً : .First : the current project has to leave the investment of the exemption from taxes and duties for a period of ten (10) years from the date of commencement of commercial operation, according developmental areas specified by the Cabinet proposal of the National Authority for Investment according to the degree of economic development of the region and the nature of an investment project.
ثانياً.Second : the Council of Ministers propose draft laws for the extension of or the granting of exemptions in addition to the exemptions provided for in item (I) of this article or provide incentives or guarantees or other benefits to any project or sector or area, and time and descent as it deems appropriate in accordance with the nature of the activity, its geographical location and the extent of its contribution to the operation labor and advancing economic development, considerations required for the national interest.
% .Third : for the National Investment increase in the number of Sunni exemption from taxes and duties commensurate increase in the proportion of direct relationship with the Iraqi investor participation in the project for up to (15) fifteen years if the proportion of the Iraqi partnership investor in the project more than 50%.
المادة (16) :Article (16) :
اذا.If the transfer of the project during the duration of the exemption granted by the development to the other development project treated for the purposes of the exemption provided for in item (I) of article (15) during the remainder treatment of the development projects transferred to the feel of the National Investment so.
المادة (17) :Article (17) :
كذلك :The project also enjoys rapid leave investment, including the following :
.First : exempt assets imported for the purposes of an investment project of the charges to be made to Iraq during the three (3) years from the date of granting investment.
ثانياً : .Second : exempt assets imported for the expansion project, development or modernization of the charges if it has led to increased design capacity, to be introduced during the three (3) years from the date of notification of the expansion or development, and expansion intended for the purposes of this law, in addition fixed capital assets in order to increase design capacity of the project goods, services or materials by more than (15%) fifteen% of the development is intended for the purposes of this Act replacement machines sophisticated Bmkaen project in whole or in part or to develop the equipment and existing equipment to the project by adding new machinery or equipment or parts thereof in order to raise production efficiency or improve and develop the kind of products and services.
.Third : exempt spare parts imported for the project from charges that do not exceed the value of these pieces (20%) of the 20th% of the value of the purchase of assets, provided that the investor is not acting for purposes other than importing from it.
.Fourth : grant projects of hotels and tourist establishments, hospitals and health institutions, rehabilitation centers and educational and scientific institutions additional exemptions from import duties on furniture, furnishings and supplies for the purposes of modernization and renewal once every four (4) years in the least to be incorporated into Iraq or use in the project in (3) years from the date of issuance of the decision of the approval the lists of the imported and quantity, provided that the Itim used for other purposes were imported.
المادة (18) :Article (18) :
.If it turns out that the project assets exempt all or some of the taxes and fees have been sold, contrary to the provisions of this Act or used in illegal or used for purposes other than the declared For investors pay taxes, fees and fines generated in accordance with the law.
الفصل السادسChapter VI
اجراءات ريعProcedures for granting leave and the establishment of investment projects
المادة (19) :Article (19) :
أولاً.First : The investor gets to leave in addition to winning the rest leave for the purpose of enjoying the privileges and exemptions provided by the body.
:Second : grant the leave or the establishment of the investment project at the request submitted to the investor on concessional terms prepared by the Authority, which includes the request made by the investor on the following matters :
أ .A-fill the application form prepared by the body.
ب – معتمد .B-efficiency of the Asian financial accredited.
ج .C-projects undertaken by the investor in or outside Iraq.
د –اة .D-details of the project to be invested and its economic feasibility.
هـ.E-schedule for the completion of the project.
المادة (20) :Article (20) :
أولاً.First : to leave the issue of incorporation through the creation of a single window in the Territory or irregular maintenance in the territory of authorized delegates from ministries and other relevant relationship and the establishment of the grant leave the project and obtain approvals from other parties in accordance with the law.
ثانياً .Second : to help the investor to obtain leave from the foundation during its approach Alajahat competent and exploring the views of those in the establishment and the issuing leave on the part of those issuing its approval or rejection or a request for the amendment during the (15) fifteen days from the date notified, and the absence of the required response approval of opinion in the case of rejection must be reasoned rejection.
فيه .Third : in the event of disagreement between the decision of the National Investment and the other related to grant leave founding bodies Non-raising controversy to the Prime Minister for a decision.
رابعاً : قرارها باتاً .Fourth : In rejecting the request establishment owner grievance request to the head of the Territory or on demand through conservation (15) fifteen days from the date of informing him of the decision and decide on the chairman of the grievance submitted during the period of seven (7) days and the applicant object to the president's decision to reject the body lodged with the signed by the body during the (15) fifteen days from the date of refusal to appeal is its Bata.
الفصل السابعChapter VII
أحكام عامةGeneral provisions
المادة (21) :Article (21) :
ا ياتي :Composed capital of the project covered by the provisions of this law, which comes :
ن .First : money remitted to Iraq through banks and financial companies, or any other legal way to invest for the purposes of this Act.
ثان:Second : money and the kind of moral supplier to Iraq or purchased from local markets through currency remitted to Iraq, which is :
.A-kind funds to do the project.
ب.B-machines, machines, equipment, buildings and construction, means of transportation, furniture and office supplies for a project.
.C-moral rights, which includes patents, trademarks, know-how and engineering services, administrative and marketing and in its judgment.
ثالثاً : Third : profits, royalties and reserves resulting from the investment of capital in Iraq if the project was to increase the capital of this project, or if invested in a project covered by the provisions of this law. Article (22) : enjoy the benefits of additional foreign investors in accordance with the international agreements between Iraq and their own or international multilateral conventions Iraq had joined them. Article (23) : if shifted ownership of the project during the duration of the exemption granted to the project would continue to enjoy exemptions and facilities and guarantees granted to it until the expiration of that period, the new investor to continue to work on the project in the same jurisdiction or in another jurisdiction after approval by the Commission and replaces former investor rights and obligations under the rulers of this law.
First : the investor, with the consent of the Commission, the sale of assets exempted or waived to another investor beneficiaries of the provisions of this law to be used in legitimate. Second : the investor notice after the sale of assets exempt any person or another project is not covered by the provisions of this Act after payment of duties and taxes due them. Third : the investor approval of the re-export of assets exempted. Article (25) : If merged two or two or more to make the company or the new entity resulting from the merger binding organized separate accounts for each project prior to the merger and the application for the registration of exemptions and facilities provided for in this law during the remaining period of exemption. Article (26) : continue any project approved under the previous laws to take advantage of the exemptions granted to them under the law until the expiration of the exemption and its terms. Article (27) : Disputes arising between the parties subject to the provisions of the law apply Iraqi law unless they agree otherwise without cases subject to the provisions of Iraqi law exclusively or where the jurisdiction of the courts of Iraq. 1. Subject disputes arising from the employment contract exclusively to the provisions of Iraqi law and the jurisdiction of the Iraqi courts, with the exception of non-Group.
If the parties to the dispute and in other non-Iraqi disputes resulting from the crime may disputants agree on the applicable law and a competent court or any other agreement to resolve the dispute themselves. 3. If, as a consequence of a dispute between partners or between the owner of the project and others in the draft is subject to the provisions of this law work stopped for more than three months may withdraw the license and the request to the owners of the project ordered settlement within a period not to exceed three months, and if passed this time without the settlement of the matter between the partners or between the owner of the project and others, the body of legal action to liquidate the project with Azkhtar owner of the project or one of the partners that is the amount of the deposit in a bank liquidation following the fulfillment of the State or any rights of others, after the issuance of a judicial entitlements it. 4. If one of the parties to the dispute subject to the provisions of this law may have contracted at agreeing on a mechanism to resolve the dispute, including recourse to arbitration in accordance with Iraqi law or any other internationally recognized. 5. Disputes arising between the body, or any governmental, between any of the subject to the provisions of the law in other issues relating to violating one of the provisions of this Act, subject to the law and Iraqi courts in civil matters, either in trade disputes of the parties may resort to arbitration that is provided for in the contract regulating the relationship between the parties. Article (28) :
In case of violation of any of the investor provisions contained in this Act These countries warn investors in writing to remove the violation within a specified period, in the case of the failure of the investor to remove the violation within the period prescribed by the investor or the invitation represented a position to give him time and again to settle the issue and if the offense is repeated or not These countries withdraw their leave issued by the investor and to stop work on the project with the state retaining the right to deprive the investor of the exemptions and privileges granted to it from the date of verification offense while retaining the right of others to claim compensation for the damage as a result of this violation, without prejudice to any penalties or other remedies provided by the laws in force. Article (29) : All areas of investment to the provisions of this Act, except as follows : First : investment in the fields of mining and oil and gas production. Second : investment in the banks and insurance companies. Vialamada (30) : Cabinet : First : issuing regulations to facilitate the implementation of the provisions of this Act. Second : issuing internal regulations define the formations and subdivisions and functions and functioning of the body and the powers of the Finance and Personnel and any other things. Article (31) : The Board issued instructions to facilitate the implementation of regulations issued by the Council of Ministers in accordance with the provisions of this Act. Article (32) : The provisions of this draft law on the mixed sector, the private sector and the existing workforce and at the request of the administration and the consent of the body, without retroactive effect. Article (33) : Any text is contrary to the provisions of this Act. Article (34) : cancels a Coalition Provisional Authority (dissolved) No. (39) of 2003. Article (35) : cancel the Arab Investment Law issued by the Revolutionary Command Council dissolved (No. 62) of 2002. Article (36) : the law is implemented from the date of its publication in the Official Gazette. Reasons to push the process of economic development, social development and bring the technical and scientific expertise and human resources development, and create job opportunities for the Iraqis to encourage investments and support the process of establishing investment projects in Iraq and the expansion and development at various levels of economic and granting concessions and exemptions to these projects, initiated this law
http://64.233.179.104/translate_c?hl...d/law/044.html
I believe these are the Final Investment Laws......I think this is it? not sure though.....but the site lists all the laws so far
الارInvestment Law لChapter I
التعاريفDefinitions
المادة (1) غير ذلك .Article (1) : The following terms wherever it appears in this Act meanings corresponding below unless the evidence shows otherwise.
أ .A. .Council : Council of Ministers.
ب .B. .The National Authority for Investment : is the body established under the law is responsible for the development of national policies for investment and the development of controls and monitoring the implementation of controls and regulations in the field of investment and specific investment projects strategic outlook of the federal nature exclusively.
ج .C. .The Territory : Investment Authority in the province is responsible for planning program and the granting of leave to invest in the province.
د .D. .Authority : preserving the investment in the province in the territory of irregular responsible for the planning and investment granting leave investment in the province.
هـ .E. الة.Body : National Authority for Investment Authority or maintain as the case may be.
و .And. ر .Chairman of the Board : Chairman of the National Authority for Investment.
ز .G. القانون .Project : Economic activity covered by the provisions of this law.
ح .H. والكليات.Assets : machinery, appliances and equipment and machinery, supplies and the number and modes of transport, supplies and office furniture for use exclusively in the project, furniture, furnishings and supplies hotels and tourist cities, hospitals, schools and colleges.
ط .I. .The foreign investor is : who is not a citizen of Iraq in the case of a person real and recorded in a foreign country if the people, legally or morally.
ي .J. الممعنوياً او حقوقياً .Iraqi investor is : who carries Iraqi nationality in the case of a real and recorded in Iraq if the people, legally or morally.
ك .K. النافذة .Taxes and fees : all kinds of fees and taxes imposed by the laws in force.
ل .Told. للم .Design : energy production capacity is designed as a unit of time (hour, day ... Etc.), as evidenced by the documents received from the processor with the machines and the economic feasibility of the project.
م .M. .Portfolio investment : a series of investments in stocks and bonds.
ن .N.. الا .Investment : is the recruitment of money in any activity or project economic legitimate beneficial to the country.
الاهداف والوسائلEnds and means
:Article (2) The purpose of this Act is to Mayati :
.First : the promotion of investment and the transfer of modern technologies to contribute to the development of Iraq and development and to expand its productive base and service and diversification.
والاجنبية .Second : to encourage the Iraqi private sector and foreign investment in Iraq through the provision of necessary facilities for the establishment of investment projects and to promote the competitiveness of enterprises covered by the provisions of this law in the domestic and foreign markets.
للعراقيينThird : the development of human resources according to market requirements and providing job opportunities for Iraqis
تثمرين .Fourth : the protection of the rights and property investors.
.Fifth : the expansion of exports and strengthening the balance of payments and trade balance for Iraq.
تعتمد القانون :Article (3) adopt the following means to achieve the objectives of this law :
اولاً .First : project grants covered by the provisions of this law privileges and guarantees necessary for the maintenance and development through the provision of support, including believes enhance the competitive edge of those enterprises in the domestic and foreign markets.
.Second : project grants leave the winner of investment from the additional facilities and exemptions from taxes and duties, according to the contents of this law.
الفصل الثانيChapter II
الهيئة الوطنية للاستثمارThe National Authority for Investment
وهيئات الاستثمار في الاقاليم والمحافظاتThe bodies of investment in the regions and governorates
المادة (4) :Article (4) :
اولاً : .First : Under this law, a body called the (National Authority for Investment) have personality and moral authority or the Chief of empowered and be responsible for the development of national policies for investment and development plans, regulations, controls and control the application of these controls and regulations in the field of investment and specific investment projects of strategic nature of the federal exclusively.
ثانياً : Second : manages the National Authority for the investment board is composed of nine members with expertise and jurisdiction for a period of no less ferocious than ten years and possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
.Third : A-nominate the Council of Ministers request of the President of the President of the rank of minister and the vice-president and a deputy minister for a period of five years and presented to the House of Representatives for approval.
ب – .B-appointed head of the Council of Ministers of the four members for a period of five years, a general manager.
ج .C-selected by the President of the Council of Ministers of three members from the private sector for a period of five years after nomination by the President of the National Authority for Investment and determine the remuneration in accordance with the rules of procedure.
د – عند.D-at the expiration of the term of office of any member of the National Authority for Investment mentioned in (a, b) of this article, other than in cases of impeachment and resignation by the President of the Council of Ministers Petensephm any hand with the government retaining Pedrjthm career transmitted mentioned in paragraph (a) of this article to retire at the Non - Tinsephma post to tie Drjthma career.
هـ -.E-to the House impeaching President of the National Authority for Investment and Deputy directly or at the request of the Prime Minister's grounds.
و – .- And of the Council of Ministers to dismiss any of the members of the National Authority for the investment of others or replace other in the absence of commitment and regulations Bamaair body.
ز –.G-the board of directors of the National Authority for Investment invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
ح – ترتبط.H-linked to the National Authority for Investment Chairman of the Council of Ministers.
ط – .I-determined system of salary and benefits to employees of the Board, upon the proposal of the President of the National Authority for Investment and the decision of the Prime Minister.
لها في .Fourth : The status of the National Authority for Investment in Baghdad and to appoint representatives to the regions and provinces.
.Fifth : the National Authority for the development of investment policy overall national strategy for investment and identify the sectors most important and prepare the road investment projects in Iraq in light of the information obtained from the bodies of investment in the regions and provinces are also lists of investment opportunities in the investment projects and strategic outlook with the federal preliminary information on these projects and provide for those interested in investing.
المادة (5) :Article (5) :
لها .First : the regions and provinces in the territory of irregular formation of the investment in the areas under its control with powers granted leave investment planning and investment and encourage investment and to open branches in areas under its consultation with the National Authority for the investment to ensure that the legal requirements.
افلاسه .Second : the provincial and district bodies of seven members, including at least one president and his deputy with experience and competence for no less ferocious than seven years, possess a university degree and competence of the suit and is not restricted to the felony or misdemeanor dishonest or bankrupt.
فظة ولوائح الهيئةThird : The boards of the province and provinces that have not organized in the territory of the composition of the territory and the preservation and removal of a member of the commitment in the absence of standards and regulations body
يةFourth : coordinate regional and provincial bodies to work with the National Authority for Investment and consult and coordinate with local governments regarding the plans and facilities investment
.Fifth : the bodies of regions and provinces to develop their investment would not conflict with the investment policy of Yugoslavia and prepare lists of investment opportunities in the areas under its control with the preliminary information on these projects and provide for those interested in investing.
.Sixth : linked to the Prime Minister of the province and territory under the control of the territory and linked to the preservation and the Governor under the control of the preservation of Aitaardh including the provisions of this Act.
.Seventh : the board of directors of provincial and district invitation of the Chairman of The quorum meet and to take the decisions and recommendations by an absolute majority and regulates the functioning of internal issued by the body.
المادة (6) :Article (6) :
الهيئة .Adopt the electronic correspondence in addition to routine correspondence between them and the official bodies relating to the work and activity of the body through local networks or the Internet, according controls determined by the body.
المادة (7) :Article (7) :
أ – ت.A body-accept requests leave of investment projects which are less capital than the minimum established by the Council of Ministers, the Minister of the Territory, as the case may be issued under the proposal of the body.
.B-Commission must obtain approval from the Council of Ministers before granting leave if the value of an investment project more than two hundred and fifty million dollars.
ج .C-Body decide on the requests for leave to invest in a term not exceeding five (45) and 40th days of the date of submission of the application.
د – .D - The decisions of the Board relating to investment projects adopting binding for the purposes of this Act.
ال(8) :Article (8) :
للدولة .Of the annual budget independent resources consist of the amounts allocated from the state budget.
المادة (9) :Article (9) :
:Body aims to encourage investment by working to Mayati :
لها .First : to strengthen confidence in the investment environment and identify investment opportunities and encouraging investment and promoting them.
ثانياً.Second : simplifying registration procedures and leave for investment projects and the follow-up of existing projects and the priority given to them in the achievement of the formal completion of the procedures and answer requests for investors and obtain the necessary approvals for the investor and the project.
.Third : the creation of a single window at the National Investment and other provincial and district bench authorized delegates of the ministries and members nominated by provincial and district councils according to the conditions and the relevant authorities will grant leave and obtain approvals from other parties in accordance with the law.
بذلك .Fourth : the provision of advice and information and data to investors and issuing bulletins so.
وتها .Fifth : the development of programs to promote investment in the different regions of Iraq to attract investors and implementation.
.Sixth : facilitate the allocation of land required for setting up and letting projects without determined by the body to coordinate with the relevant authorities.
سابعاً .Seventh : work on the establishment of a safe investment with the consent of the Council of Ministers.
.Eighth : encourage the Iraqi investors through the provision of soft loans and financial facilities for them in coordination with the Ministry of Finance and the use of banking institutions with the requirement that any investor who is a loan, using a number of the unemployed Iraqis commensurate with the size of the loan.
.Ninth : any other tasks related to the nature of work assigned to it by the Council of Ministers.
الفصل الثالثChapter III
المزايا والضماناتAdvantages and guarantees
المادة (10) :Article (10) :
يتمتع.Enjoy investor regardless of the nationality of all the privileges and facilities, guarantees and subject to the obligations contained in this Act and the Iraqi and foreign investor for the purposes of housing projects in return for the right to keep the land between him and the owner of the land without speculative land according to rules set by the National Authority for Investment and with the consent of the Council of Ministers, and facilitate the allocation of land for projects housing ownership and housing units to the Iraqis after the completion of the project.
(11) :Article (11) :
الاتية :Investor enjoy the following benefits :
.First : get capital introduced to Iraq and proceeds according to the provisions of this Act and instructed the Central Bank of Iraq and a convertible currency after payment of all debts and obligations to the Iraqi government and all other quarters.
ثانياً ::ـSecond : the right to the foreign investor :
أ*- التداول .ا*-Iraq circulation in the market for securities and equity securities listed therein.
ب - .B-composition of investment portfolios in stocks and bonds.
Third : the rental of land for the project or for the duration of Almsatha where the investment project based on that not more than fifty (50) years, renewable for approval of the Commission and take into account in determining the term nature of the project and its usefulness to the national economy.
.Fourth : insurance investment project with any insurance company or a foreign national it deems appropriate.
المجاز .Fifth : the opening of accounts in Iraqi currency or foreign or both with one of the banks in Iraq or outside of the project metaphor.
المادة (12) :Article (12) :
يأتي :This legislation guarantees to Mstthmerma following :
.First : the right of the investor to the recruitment and use of non-Iraqi workers in the absence of the possibility of using Iraqi possesses the necessary qualifications and unable to perform the same task, according controls issued by the body.
.Second : granting foreign investors and workers in the investment projects of the non-Iraqis the right to stay in Iraq and to facilitate entry and exit to and from Iraq.
او .Third : Non confiscation or nationalization of an investment project under the provisions of this Act or both part except Maisder sentenced court ruling.
.Fourth : the technical and administrative staff-Iraqis in the project to change their salaries and entitlements out of Iraq in accordance with the law after payment of debts and obligations towards the Iraqi government and all other quarters.
المادة (13) :Article (13) :
اي .Any amendment to this law does not have any retroactive effect prejudice, exemptions and guarantees the rights established thereunder.
الفالرابعChapter IV
ستثمرInvestor obligations
ا (14) :Article (14) :
:Bmayati committed investor :
أولاً :.First : notice of the National Investment Authority or territory or maintain as the case in writing immediately upon completion of the installation and processing assets for the purposes of the project and the date of commencement of business.
ثانياً : ونSecond : accounting fundamentalist exhaustive legal syndicated accountant in Iraq in accordance with the law
.Third : to study the economic and technical feasibility of the project and any information or data or documents requested by the Commission or other competent bodies in the balancing of the project and progress made in done.
لهذه المواد .Fourth : the maintenance of records of materials imported for the project and exempt from customs accordance with the provisions of the law determining the terms of the conduct of these materials.
العراقي .Fifth : preserving the integrity of the environment and our commitment to the quality control systems in place in Iraq and the global regulations adopted in this area and the laws relating to security, health, public order and the values of Iraqi society.
.Sixth : commitment to the Iraqi laws in force in the areas of salary, leave, hours, working conditions and other minimum.
سابعاًالاجازة .Seventh : commitment to the progress of work on the compatibility provided by the investor with the fact that the disparity is not the time more than six months, the National Authority for the investment put penalty clauses in the event the duration of six months and the withdrawal of the holiday.
ثامناً.Eighth : the training of employees of the Iraqis, rehabilitation and increase their efficiency and raise the skills and abilities and priority will be given to the recruitment and use of Iraqi workers.
الفصل الخامسChapter V
الاعفاءاتExemptions
المادة (15) :Article (15) :
أولاً : .First : the current project has to leave the investment of the exemption from taxes and duties for a period of ten (10) years from the date of commencement of commercial operation, according developmental areas specified by the Cabinet proposal of the National Authority for Investment according to the degree of economic development of the region and the nature of an investment project.
ثانياً.Second : the Council of Ministers propose draft laws for the extension of or the granting of exemptions in addition to the exemptions provided for in item (I) of this article or provide incentives or guarantees or other benefits to any project or sector or area, and time and descent as it deems appropriate in accordance with the nature of the activity, its geographical location and the extent of its contribution to the operation labor and advancing economic development, considerations required for the national interest.
% .Third : for the National Investment increase in the number of Sunni exemption from taxes and duties commensurate increase in the proportion of direct relationship with the Iraqi investor participation in the project for up to (15) fifteen years if the proportion of the Iraqi partnership investor in the project more than 50%.
المادة (16) :Article (16) :
اذا.If the transfer of the project during the duration of the exemption granted by the development to the other development project treated for the purposes of the exemption provided for in item (I) of article (15) during the remainder treatment of the development projects transferred to the feel of the National Investment so.
المادة (17) :Article (17) :
كذلك :The project also enjoys rapid leave investment, including the following :
.First : exempt assets imported for the purposes of an investment project of the charges to be made to Iraq during the three (3) years from the date of granting investment.
ثانياً : .Second : exempt assets imported for the expansion project, development or modernization of the charges if it has led to increased design capacity, to be introduced during the three (3) years from the date of notification of the expansion or development, and expansion intended for the purposes of this law, in addition fixed capital assets in order to increase design capacity of the project goods, services or materials by more than (15%) fifteen% of the development is intended for the purposes of this Act replacement machines sophisticated Bmkaen project in whole or in part or to develop the equipment and existing equipment to the project by adding new machinery or equipment or parts thereof in order to raise production efficiency or improve and develop the kind of products and services.
.Third : exempt spare parts imported for the project from charges that do not exceed the value of these pieces (20%) of the 20th% of the value of the purchase of assets, provided that the investor is not acting for purposes other than importing from it.
.Fourth : grant projects of hotels and tourist establishments, hospitals and health institutions, rehabilitation centers and educational and scientific institutions additional exemptions from import duties on furniture, furnishings and supplies for the purposes of modernization and renewal once every four (4) years in the least to be incorporated into Iraq or use in the project in (3) years from the date of issuance of the decision of the approval the lists of the imported and quantity, provided that the Itim used for other purposes were imported.
المادة (18) :Article (18) :
.If it turns out that the project assets exempt all or some of the taxes and fees have been sold, contrary to the provisions of this Act or used in illegal or used for purposes other than the declared For investors pay taxes, fees and fines generated in accordance with the law.
الفصل السادسChapter VI
اجراءات ريعProcedures for granting leave and the establishment of investment projects
المادة (19) :Article (19) :
أولاً.First : The investor gets to leave in addition to winning the rest leave for the purpose of enjoying the privileges and exemptions provided by the body.
:Second : grant the leave or the establishment of the investment project at the request submitted to the investor on concessional terms prepared by the Authority, which includes the request made by the investor on the following matters :
أ .A-fill the application form prepared by the body.
ب – معتمد .B-efficiency of the Asian financial accredited.
ج .C-projects undertaken by the investor in or outside Iraq.
د –اة .D-details of the project to be invested and its economic feasibility.
هـ.E-schedule for the completion of the project.
المادة (20) :Article (20) :
أولاً.First : to leave the issue of incorporation through the creation of a single window in the Territory or irregular maintenance in the territory of authorized delegates from ministries and other relevant relationship and the establishment of the grant leave the project and obtain approvals from other parties in accordance with the law.
ثانياً .Second : to help the investor to obtain leave from the foundation during its approach Alajahat competent and exploring the views of those in the establishment and the issuing leave on the part of those issuing its approval or rejection or a request for the amendment during the (15) fifteen days from the date notified, and the absence of the required response approval of opinion in the case of rejection must be reasoned rejection.
فيه .Third : in the event of disagreement between the decision of the National Investment and the other related to grant leave founding bodies Non-raising controversy to the Prime Minister for a decision.
رابعاً : قرارها باتاً .Fourth : In rejecting the request establishment owner grievance request to the head of the Territory or on demand through conservation (15) fifteen days from the date of informing him of the decision and decide on the chairman of the grievance submitted during the period of seven (7) days and the applicant object to the president's decision to reject the body lodged with the signed by the body during the (15) fifteen days from the date of refusal to appeal is its Bata.
الفصل السابعChapter VII
أحكام عامةGeneral provisions
المادة (21) :Article (21) :
ا ياتي :Composed capital of the project covered by the provisions of this law, which comes :
ن .First : money remitted to Iraq through banks and financial companies, or any other legal way to invest for the purposes of this Act.
ثان:Second : money and the kind of moral supplier to Iraq or purchased from local markets through currency remitted to Iraq, which is :
.A-kind funds to do the project.
ب.B-machines, machines, equipment, buildings and construction, means of transportation, furniture and office supplies for a project.
.C-moral rights, which includes patents, trademarks, know-how and engineering services, administrative and marketing and in its judgment.
ثالثاً : Third : profits, royalties and reserves resulting from the investment of capital in Iraq if the project was to increase the capital of this project, or if invested in a project covered by the provisions of this law. Article (22) : enjoy the benefits of additional foreign investors in accordance with the international agreements between Iraq and their own or international multilateral conventions Iraq had joined them. Article (23) : if shifted ownership of the project during the duration of the exemption granted to the project would continue to enjoy exemptions and facilities and guarantees granted to it until the expiration of that period, the new investor to continue to work on the project in the same jurisdiction or in another jurisdiction after approval by the Commission and replaces former investor rights and obligations under the rulers of this law.
First : the investor, with the consent of the Commission, the sale of assets exempted or waived to another investor beneficiaries of the provisions of this law to be used in legitimate. Second : the investor notice after the sale of assets exempt any person or another project is not covered by the provisions of this Act after payment of duties and taxes due them. Third : the investor approval of the re-export of assets exempted. Article (25) : If merged two or two or more to make the company or the new entity resulting from the merger binding organized separate accounts for each project prior to the merger and the application for the registration of exemptions and facilities provided for in this law during the remaining period of exemption. Article (26) : continue any project approved under the previous laws to take advantage of the exemptions granted to them under the law until the expiration of the exemption and its terms. Article (27) : Disputes arising between the parties subject to the provisions of the law apply Iraqi law unless they agree otherwise without cases subject to the provisions of Iraqi law exclusively or where the jurisdiction of the courts of Iraq. 1. Subject disputes arising from the employment contract exclusively to the provisions of Iraqi law and the jurisdiction of the Iraqi courts, with the exception of non-Group.
If the parties to the dispute and in other non-Iraqi disputes resulting from the crime may disputants agree on the applicable law and a competent court or any other agreement to resolve the dispute themselves. 3. If, as a consequence of a dispute between partners or between the owner of the project and others in the draft is subject to the provisions of this law work stopped for more than three months may withdraw the license and the request to the owners of the project ordered settlement within a period not to exceed three months, and if passed this time without the settlement of the matter between the partners or between the owner of the project and others, the body of legal action to liquidate the project with Azkhtar owner of the project or one of the partners that is the amount of the deposit in a bank liquidation following the fulfillment of the State or any rights of others, after the issuance of a judicial entitlements it. 4. If one of the parties to the dispute subject to the provisions of this law may have contracted at agreeing on a mechanism to resolve the dispute, including recourse to arbitration in accordance with Iraqi law or any other internationally recognized. 5. Disputes arising between the body, or any governmental, between any of the subject to the provisions of the law in other issues relating to violating one of the provisions of this Act, subject to the law and Iraqi courts in civil matters, either in trade disputes of the parties may resort to arbitration that is provided for in the contract regulating the relationship between the parties. Article (28) :
In case of violation of any of the investor provisions contained in this Act These countries warn investors in writing to remove the violation within a specified period, in the case of the failure of the investor to remove the violation within the period prescribed by the investor or the invitation represented a position to give him time and again to settle the issue and if the offense is repeated or not These countries withdraw their leave issued by the investor and to stop work on the project with the state retaining the right to deprive the investor of the exemptions and privileges granted to it from the date of verification offense while retaining the right of others to claim compensation for the damage as a result of this violation, without prejudice to any penalties or other remedies provided by the laws in force. Article (29) : All areas of investment to the provisions of this Act, except as follows : First : investment in the fields of mining and oil and gas production. Second : investment in the banks and insurance companies. Vialamada (30) : Cabinet : First : issuing regulations to facilitate the implementation of the provisions of this Act. Second : issuing internal regulations define the formations and subdivisions and functions and functioning of the body and the powers of the Finance and Personnel and any other things. Article (31) : The Board issued instructions to facilitate the implementation of regulations issued by the Council of Ministers in accordance with the provisions of this Act. Article (32) : The provisions of this draft law on the mixed sector, the private sector and the existing workforce and at the request of the administration and the consent of the body, without retroactive effect. Article (33) : Any text is contrary to the provisions of this Act. Article (34) : cancels a Coalition Provisional Authority (dissolved) No. (39) of 2003. Article (35) : cancel the Arab Investment Law issued by the Revolutionary Command Council dissolved (No. 62) of 2002. Article (36) : the law is implemented from the date of its publication in the Official Gazette. Reasons to push the process of economic development, social development and bring the technical and scientific expertise and human resources development, and create job opportunities for the Iraqis to encourage investments and support the process of establishing investment projects in Iraq and the expansion and development at various levels of economic and granting concessions and exemptions to these projects, initiated this law
http://64.233.179.104/translate_c?hl...d/law/044.html
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Thanks RJ! Here's more good news.......The Iraqi Ministry of Industry is considering with the conservatives openness to foreign investment
Baghdad-3-26 (KUNA) -- The Minister of Industry Iraqi Fawzi Hariri today consultations with the governors discussed ways to Iraqis open up to foreign investments and regional At the same time he said that his ministry had studied the issue of the rehabilitation of its companies in the various governorates.
وقال .Al-Hariri during a meeting held at the headquarters of the ministry with the governors of Anbar and Maysan, Muthana and representatives of district councils and a number of other general managers of companies, the ministry directed Iraq to a market economy makes it imperative for the ministry to open up to local and regional investments and foreign at this stage.
تلك.He added that this requires a clear vision of the investment requirements to ensure the protection of the future of these companies and good financial returns for companies and the governorates and the Iraqi state.
.He pointed out that this comes with the ministry is ready to begin announcing some investment opportunities to be invited Iraqi investors and international companies to conclude agreements aiming to rehabilitate companies inject funds necessary to enable them to compete with foreign companies coming to Iraq and conventions, ranging from 10 to 15 years contribute to support capacity human and technical projects in the governorate.
جاء ة.This comes at a time held about 50 head of an American company survey of Iraqi factories in the public, private and mixed in the Kurdistan region and the cities in the south and center for the rehabilitation and the industrial and commercial partnership.
دية.It was agreed during the meeting attendees on the need to raise awareness and spread his vision of new investment law will help in attracting new investments contribute to Iraq Benhadth economic.
فظاتهمThe Minister of State for the provinces, Saad Taher Hashemi said to Kuwait News Agency (KUNA) that the United Nations will sponsor a conference of the governors of Iraq held in Erbil in the 27 and the 28 of the current month of March on ways to activate the work of governors to speed up the reconstruction process and provide better services for the people of their region.
The Iraqi Ministry of Industry is considering with the conservatives openness to foreign investment
Baghdad-3-26 (KUNA) -- The Minister of Industry Iraqi Fawzi Hariri today consultations with the governors discussed ways to Iraqis open up to foreign investments and regional At the same time he said that his ministry had studied the issue of the rehabilitation of its companies in the various governorates.
وقال .Al-Hariri during a meeting held at the headquarters of the ministry with the governors of Anbar and Maysan, Muthana and representatives of district councils and a number of other general managers of companies, the ministry directed Iraq to a market economy makes it imperative for the ministry to open up to local and regional investments and foreign at this stage.
تلك.He added that this requires a clear vision of the investment requirements to ensure the protection of the future of these companies and good financial returns for companies and the governorates and the Iraqi state.
.He pointed out that this comes with the ministry is ready to begin announcing some investment opportunities to be invited Iraqi investors and international companies to conclude agreements aiming to rehabilitate companies inject funds necessary to enable them to compete with foreign companies coming to Iraq and conventions, ranging from 10 to 15 years contribute to support capacity human and technical projects in the governorate.
جاء ة.This comes at a time held about 50 head of an American company survey of Iraqi factories in the public, private and mixed in the Kurdistan region and the cities in the south and center for the rehabilitation and the industrial and commercial partnership.
دية.It was agreed during the meeting attendees on the need to raise awareness and spread his vision of new investment law will help in attracting new investments contribute to Iraq Benhadth economic.
فظاتهمThe Minister of State for the provinces, Saad Taher Hashemi said to Kuwait News Agency (KUNA) that the United Nations will sponsor a conference of the governors of Iraq held in Erbil in the 27 and the 28 of the current month of March on ways to activate the work of governors to speed up the reconstruction process and provide better services for the people of their region
26 Mar 2007
Sharing petroleum resources only path to Iraqi unity and stability
London, UK (KRG.org) – At a seminar in London on Thursday, experts on Iraq and the oil industry discussed Iraq’s draft federal oil and revenue sharing laws. One of the speakers, Dr Ashti Hawrami, the Kurdistan Regional Government’s (KRG) natural resources minister, said, “sharing Iraq’s oil and gas revenues fairly and transparently is the only path to a united and stable Iraq”.
Speakers at the seminar
Dr. Hawrami, who sits on the Iraqi committee that is drafting the federal oil and gas law, told participants that while the main points of the draft have been completed and agreed, some annexes and model contracts are still being decided. He said, “The law reiterates that the KRG is responsible for awarding contracts in its area. It also includes strong checks and balances to ensure that contracts follow guidelines.”
The drafting committee in Baghdad decided that a federal oil and gas council will be established that can review newly signed contracts, to make sure that they meet guidelines. The council can ask an independent panel of experts to study the contracts and if the panel finds that a contract seriously deviates from the guidelines, the contract has to be modified.
Dr. Hawrami added, “Contradictory to what some reports have said, no one has told us Iraqis what to put in the law. Iraqis alone have been deciding it. The only pressure put on us has been to move it forward and complete it.”
Hamid Dhiya Jafar, an Iraqi national who is chairman and CEO of Crescent Petroleum and executive chairman of Dana Gas, said “Iraq’s oil sector needs massive investment because it has been stuck in a time warp since the 1970s and needs to modernise. When countries like India and Pakistan are privatising to modernise the industry, we need to recognise that Iraq has to do the same.
He added, “Iraq now has a unique opportunity to design the right regulatory framework.” Mr. Jafar also said that the government should encourage a healthy Iraqi private sector petroleum industry.
Peter Galbraith, former US ambassador to Croatia and United Nations director for the East Timorese transitional government, said that the Iraqi constitution gives regions such as Kurdistan considerable powers. He said, “In terms of its constitutional rights, the KRG is making major concessions in the draft federal oil law”.
About 140 analysts, journalists, diplomats and oil company representatives attended the seminar, which was chaired by KRG Spokesman Dr. Khaled Salih.
26 Mar 2007
Sharing petroleum resources only path to Iraqi unity and stability
London, UK (KRG.org) – At a seminar in London on Thursday, experts on Iraq and the oil industry discussed Iraq’s draft federal oil and revenue sharing laws. One of the speakers, Dr Ashti Hawrami, the Kurdistan Regional Government’s (KRG) natural resources minister, said, “sharing Iraq’s oil and gas revenues fairly and transparently is the only path to a united and stable Iraq”.
Speakers at the seminar
Dr. Hawrami, who sits on the Iraqi committee that is drafting the federal oil and gas law, told participants that while the main points of the draft have been completed and agreed, some annexes and model contracts are still being decided. He said, “The law reiterates that the KRG is responsible for awarding contracts in its area. It also includes strong checks and balances to ensure that contracts follow guidelines.”
The drafting committee in Baghdad decided that a federal oil and gas council will be established that can review newly signed contracts, to make sure that they meet guidelines. The council can ask an independent panel of experts to study the contracts and if the panel finds that a contract seriously deviates from the guidelines, the contract has to be modified.
Dr. Hawrami added, “Contradictory to what some reports have said, no one has told us Iraqis what to put in the law. Iraqis alone have been deciding it. The only pressure put on us has been to move it forward and complete it.”
Hamid Dhiya Jafar, an Iraqi national who is chairman and CEO of Crescent Petroleum and executive chairman of Dana Gas, said “Iraq’s oil sector needs massive investment because it has been stuck in a time warp since the 1970s and needs to modernise. When countries like India and Pakistan are privatising to modernise the industry, we need to recognise that Iraq has to do the same.
He added, “Iraq now has a unique opportunity to design the right regulatory framework.” Mr. Jafar also said that the government should encourage a healthy Iraqi private sector petroleum industry.
Peter Galbraith, former US ambassador to Croatia and United Nations director for the East Timorese transitional government, said that the Iraqi constitution gives regions such as Kurdistan considerable powers. He said, “In terms of its constitutional rights, the KRG is making major concessions in the draft federal oil law”.
About 140 analysts, journalists, diplomats and oil company representatives attended the seminar, which was chaired by KRG Spokesman Dr. Khaled Salih.
I agree, the classic supply and demand...the price will rise!! GO DINAR!
READ PEOPLE YOU MUST BUY DINAR FIRST TO PURCHASE THERE STOCKS.THIS MEANS BOOOOOM TO IRAQ DINAR
Baghdad stock exchange welcoming foreign investors
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
Source: Iraq directory
READ PEOPLE YOU MUST BUY DINAR FIRST TO PURCHASE THERE STOCKS.THIS MEANS BOOOOOM TO IRAQ DINAR
Baghdad stock exchange welcoming foreign investors
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
Source: Iraq directory
Alredy posted oops, Iraqi Stock Exchange joining International Federation of Bourses
It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard. Also, the market continued to take measures to complete the project of electronic transaction and central depository, since it means achieving connectivity with Arab and international stock exchanges and guarantees the continuity of mutual investment and stock circulation.
This was emphasized by the Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam, explaining that the Iraqi Stock Exchange has participated earlier this year in the establishment of the Arab Union of Stock Exchanges trough the Iraqi Securities Association; also, joining the market to the Union of Asian Bourses was done early last year, and the stage of training on the use of electronic circulation system has been completed, and is continually installing devices and equipment for the direct application of this system and transfer the investors’ files from the participating companies to the deposit center, which will help in dealing with everyday problems of the work in the Stock Exchange and speed up the circulation of shares, as well as encourage investors to train and move to electronic trading and accept the inclusion of new companies in the market; in addition to the expansion of investment through signing agreements with the concerned bodies in Kurdistan to open a hall for securities circulation there, electronically connected with the Iraqi market in Baghdad, as well as studying a similar step for opening of a circulation hall in Basrah.
It is noteworthy that the Iraqi market for securities implemented during 2006 93 circulation sessions at the rate of two sessions per week, during which 58 billion shares were circulated, worth 146 billion dinars.
Source:IRAQdirectory
From Dinartrade.com
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Already posted oops,Iraqi Stock Exchange joining International Federation of Bourses
It is expected that Iraqi market for securities will witness important developments during the coming period, when it is hoped that it will join the International Federation of Bourses, as well as completing rules and procedures of circulation for the non-Iraqi, Arabs and foreigners, after the government agreed to that, and authorized the concerned bodies to prepare instructions in this regard. Also, the market continued to take measures to complete the project of electronic transaction and central depository, since it means achieving connectivity with Arab and international stock exchanges and guarantees the continuity of mutual investment and stock circulation.
This was emphasized by the Executive Director of the Iraqi market for securities, Taha Ahmed Abdul Salam, explaining that the Iraqi Stock Exchange has participated earlier this year in the establishment of the Arab Union of Stock Exchanges trough the Iraqi Securities Association; also, joining the market to the Union of Asian Bourses was done early last year, and the stage of training on the use of electronic circulation system has been completed, and is continually installing devices and equipment for the direct application of this system and transfer the investors’ files from the participating companies to the deposit center, which will help in dealing with everyday problems of the work in the Stock Exchange and speed up the circulation of shares, as well as encourage investors to train and move to electronic trading and accept the inclusion of new companies in the market; in addition to the expansion of investment through signing agreements with the concerned bodies in Kurdistan to open a hall for securities circulation there, electronically connected with the Iraqi market in Baghdad, as well as studying a similar step for opening of a circulation hall in Basrah.
It is noteworthy that the Iraqi market for securities implemented during 2006 93 circulation sessions at the rate of two sessions per week, during which 58 billion shares were circulated, worth 146 billion dinars.
Source:IRAQdirectory
From Dinartrade.com
__________________
Foreign Investors
Baghdad stock exchange welcoming foreign investors
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
Source: Iraq directory
Links of Interest:
US Department of State
CIA World Fact Book
Operation Iraqi Freedom
Energy Information Administration
Coalition Provisional Authority
US Treasury - Financial Management Services
2006 INVESTMENT CLIMATE STATEMENT - IRAQ
New Iraqi Dinar
View Latest News On Iraq
Dinar trade news
Foreign Investors
Baghdad stock exchange welcoming foreign investors
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
Source: Iraq directory
Links of Interest:
US Department of State
CIA World Fact Book
Operation Iraqi Freedom
Energy Information Administration
Coalition Provisional Authority
US Treasury - Financial Management Services
2006 INVESTMENT CLIMATE STATEMENT - IRAQ
New Iraqi Dinar
View Latest News On Iraq
Dinar trade news
"The More They Take, The More We Make"
1. "1" Dinar rate change today, it was 1277, it is now 1276
2. A (net) worth of dinars, IQD - 78,844,040,000 pulled out of circulation today 3/26/07.
3. 13 banks participating today
4. 109th auction since the beginning of CBI's reval plan
5. 177 days into the CBI's reval plan.
6. 7,336,486,246,000 dinars pulled from circulation !!
7. "0" Dinars back into circulation today
8. 201 dinar change since Oct 1st (baseline was 1477) 13.608% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).
9. 1 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1276 so far this week.
10. 4 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1276
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
__________________
http://www.controller.com/listings/f...73126A3BA06591
http://www.controller.com/listings/f...73126A3BA06591
"The More They Take, The More We Make"
1. "1" Dinar rate change today, it was 1277, it is now 1276
2. A (net) worth of dinars, IQD - 78,844,040,000 pulled out of circulation today 3/26/07.
3. 13 banks participating today
4. 109th auction since the beginning of CBI's reval plan
5. 177 days into the CBI's reval plan.
6. 7,336,486,246,000 dinars pulled from circulation !!
7. "0" Dinars back into circulation today
8. 201 dinar change since Oct 1st (baseline was 1477) 13.608% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).
9. 1 point reduction in the rate so far this week. Was at 1277 at the end of last week, 1276 so far this week.
10. 4 point drop in the month of Mar. Ended at 1280 in Feb, now stands at1276
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
__________________
http://www.controller.com/listings/f...73126A3BA06591
http://www.controller.com/listings/f...73126A3BA06591
The Presidential Council was considering a bill abolishing the Baath
(Voice of Iraq) - 26-03-2007 shall Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ
The Republic of Iraq
The Office of the President
Press Office
March 26, 2007
The Presidency was examining the draft of a law to uproot the Baath, and the Council is about to complete the final version of the law to be submitted to the parliament for ratification.
The Office of the President
__________________
The Presidential Council was considering a bill abolishing the Baath
(Voice of Iraq) - 26-03-2007 shall Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ
The Republic of Iraq
The Office of the President
Press Office
March 26, 2007
The Presidency was examining the draft of a law to uproot the Baath, and the Council is about to complete the final version of the law to be submitted to the parliament for ratification.
The Office of the President
__________________
Billion dollars to absorb the phenomenon of unemployment
Cabinet allocated 11 billion dollars-the equivalent of 25% of the budget in 2007 to an investment plan is unprecedented in Iraq.
ويعد اقتصاديون هذه الخطوة مرادفة لخطة فرض القانون التي تهدف الى تحقيق الاستقرار في العراق بما يسهم في نهضة عمرانية واقتصادية شاملة تعيد العراق الى مصاف الدول المتقدمة.
The economists this step synonymous with a plan to impose law aimed at achieving stability in Iraq, including contributing to the renaissance of urban and comprehensive economic restore Iraq to the ranks of the advanced countries.
http://64.233.179.104/translate_c?hl...language_tools
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--------------------------------------------------------------------------------
Billion dollars to absorb the phenomenon of unemployment
Cabinet allocated 11 billion dollars-the equivalent of 25% of the budget in 2007 to an investment plan is unprecedented in Iraq.
ويعد اقتصاديون هذه الخطوة مرادفة لخطة فرض القانون التي تهدف الى تحقيق الاستقرار في العراق بما يسهم في نهضة عمرانية واقتصادية شاملة تعيد العراق الى مصاف الدول المتقدمة.
The economists this step synonymous with a plan to impose law aimed at achieving stability in Iraq, including contributing to the renaissance of urban and comprehensive economic restore Iraq to the ranks of the advanced countries.
http://64.233.179.104/translate_c?hl...language_tools
__________________
Washington publishes new teams to rebuild Iraq
وكالاتAgencies
.The Ministry of Foreign Affairs announced that the United States intends to publish 10 new teams in the field of reconstruction in Baghdad, Al Anbar and Babil next week. It praised the American Secretary of State Condoleezza Rice, officials of the teams that will consist of diplomatic and military expert from the American Agency for International Assistance (USA endorsed) and an interpreter. And it is not considered Rice there is nothing more important than the efforts of the United States is to help Iraqis, saying security is not just a question of military police, but the question of economic development and the issue of governance. Officials said the reconstruction teams, all of professional diplomats and volunteers they are seeking to establish personal relationships with the Iraqis although security situation tragic
جريدة المواطن العراقية
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Washington publishes new teams to rebuild Iraq
وكالاتAgencies
.The Ministry of Foreign Affairs announced that the United States intends to publish 10 new teams in the field of reconstruction in Baghdad, Al Anbar and Babil next week. It praised the American Secretary of State Condoleezza Rice, officials of the teams that will consist of diplomatic and military expert from the American Agency for International Assistance (USA endorsed) and an interpreter. And it is not considered Rice there is nothing more important than the efforts of the United States is to help Iraqis, saying security is not just a question of military police, but the question of economic development and the issue of governance. Officials said the reconstruction teams, all of professional diplomats and volunteers they are seeking to establish personal relationships with the Iraqis although security situation tragic
جريدة المواطن العراقية
__________________
the Iraqi economy needs to be radically reformed speed
الTo catch up with the evolution of world economies
اليBaghdad Hassan spring
أكد .The specialists economists that growth rates in the revival of the Iraqi economy and the reform should be redoubled in order to accelerate and reduce the intervals of time that separate it from the ranks of the economies of other countries, which witnessed growth rates, which are rising dramatically.
.He explained Dr. Ismail Hammadi Ebeid, an economist known that the simple rates of growth taking place in the Iraqi economy are inadequate compared to those taking place in the economies of other countries and to live up to its level Massafha.
.And planners say-by-Hammadi into this situation and try to look for ways and quick solutions to activate different sectors of the economy and legislating laws consistent with the stage and circumstances and ensure the achievement of those rates.
.If we fail to do so would not constitute a simple growth rates ranging from 3% to 7% of any refunds important to the economy is suffering from a state of stagnation and decline, languishing in the lower grades and all sectors complain of neglect.
.The vitality of the world economies are usually measured through the growth rates achieved and this is a sign of vitality and activity Take for example, growth rates achieved by the Chinese economy which is one of the world economies more dynamic and vibrant though it is a state-oil.
.We must benefit from the experience of the world in this area, especially those with similar circumstances and the nature of economics with the current circumstances in Iraq and the nature of its economy.
.For that to be hiring specialists in this area are assigned in collaboration with the Ministry of Planning developed only for the advancement of various economic sectors in order to activate their performance and remove them from their present situation.
:Hammadi reiterated :
ولابد .We must focus on the sectors as a top priority to the agricultural sector and help him through the required support materials such as fertilizers, seeds, machinery and methods of modern agriculture and the industrial sector are paying attention through the creation of the means to promote national industries, as well as task comes the role of other important sectors, including the private banking and oil, electricity and the services sector, and steps to integrate Tnjsm directions and show the real picture of the Iraqi economy faltering tracks.
..He went on to say ..
.Therefore, I stress in this area on the need to develop annual plans and the other five and then in order to achieve far-reaching results reflected directly on the situation of the Iraqi economy and should be encouraged investment operations at the local level or the national mean space.
ل:He concluded by saying :
. True to the development of economic sectors depends on the improvement of security conditions but we have to take advantage of the conditions of the safe areas and the start of reforms and accurate statistics and Mapping new economic and improve the living situation, we surrender to the principle of non-absorbed as the next great tasks and overcome mean redouble efforts and long-burning stages.
Translated version of http://www.alsabaah.com/
the Iraqi economy needs to be radically reformed speed
الTo catch up with the evolution of world economies
اليBaghdad Hassan spring
أكد .The specialists economists that growth rates in the revival of the Iraqi economy and the reform should be redoubled in order to accelerate and reduce the intervals of time that separate it from the ranks of the economies of other countries, which witnessed growth rates, which are rising dramatically.
.He explained Dr. Ismail Hammadi Ebeid, an economist known that the simple rates of growth taking place in the Iraqi economy are inadequate compared to those taking place in the economies of other countries and to live up to its level Massafha.
.And planners say-by-Hammadi into this situation and try to look for ways and quick solutions to activate different sectors of the economy and legislating laws consistent with the stage and circumstances and ensure the achievement of those rates.
.If we fail to do so would not constitute a simple growth rates ranging from 3% to 7% of any refunds important to the economy is suffering from a state of stagnation and decline, languishing in the lower grades and all sectors complain of neglect.
.The vitality of the world economies are usually measured through the growth rates achieved and this is a sign of vitality and activity Take for example, growth rates achieved by the Chinese economy which is one of the world economies more dynamic and vibrant though it is a state-oil.
.We must benefit from the experience of the world in this area, especially those with similar circumstances and the nature of economics with the current circumstances in Iraq and the nature of its economy.
.For that to be hiring specialists in this area are assigned in collaboration with the Ministry of Planning developed only for the advancement of various economic sectors in order to activate their performance and remove them from their present situation.
:Hammadi reiterated :
ولابد .We must focus on the sectors as a top priority to the agricultural sector and help him through the required support materials such as fertilizers, seeds, machinery and methods of modern agriculture and the industrial sector are paying attention through the creation of the means to promote national industries, as well as task comes the role of other important sectors, including the private banking and oil, electricity and the services sector, and steps to integrate Tnjsm directions and show the real picture of the Iraqi economy faltering tracks.
..He went on to say ..
.Therefore, I stress in this area on the need to develop annual plans and the other five and then in order to achieve far-reaching results reflected directly on the situation of the Iraqi economy and should be encouraged investment operations at the local level or the national mean space.
ل:He concluded by saying :
. True to the development of economic sectors depends on the improvement of security conditions but we have to take advantage of the conditions of the safe areas and the start of reforms and accurate statistics and Mapping new economic and improve the living situation, we surrender to the principle of non-absorbed as the next great tasks and overcome mean redouble efforts and long-burning stages.
Translated version of http://www.alsabaah.com/
Baghdad Bourse welcoming foreign investors
The mediators are studying new measures
Translated by IRAQdirectory.com - [26/03/2007]
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
http://www.iraqdirectory.com/DisplayNews.aspx?id=3489
__________________
Baghdad Bourse welcoming foreign investors
The mediators are studying new measures
Translated by IRAQdirectory.com - [26/03/2007]
50 mediators in the Iraqi market for securities are examining the measures and instructions for activating the resolution, which allows non-Iraqis to circulate shares and bonds on the Stock Exchange of Iraq, and the requirements of starting the work by it, amid investors’ expectations of significant shifts; the most important of which are the positive high returns in relation to investment in general, and the raise of the level of stock prices and transactions volume on the stock market in particular.
Head of Iraqi Bourse Trustees, Talib Tabatabai, hoped that “activating this resolution will achieve economic advancement, the development of investment and expanding its base in Iraq”. He emphasized that Arabs and foreigner investors “sent letters to companies and offices of the Iraqi mediation which are 50, seeking clarification on the method of investment in the shares sector and the mechanism of circulating them via the Bourse, according to the decision issued by the Iraqi government in this concern”.
The Association of Securities in Iraq required the disclosure of brokerage companies approved by Iraqi Bourse and their offices on the web site of the Iraq market, and equally, including their e-mail addresses, their capitals, telephone numbers, a brief on the company and the volume of transactions achieved in the last two years, as well as the company’s balance and the name of its managing director.
The Association also required that the mediator must check the identification of the non-Iraqi investor by requesting documents through electronic image, to be supported later by a certified copy from the embassy of Iraq in the country of the investor and any governmental organization. It pointed out that the required papers are: ID card, valid passport, the contract and license of incorporation signed by the issuer and the Iraqi embassy or the concerned Iraqi authority.
The Iraqi Bourse will dispose the buying and selling authorization in Arabic and English, including the No. of issue and other necessary information, with the possibility of delivering the authorization by e-mail or agent of the investor or any other means, on condition that the mediator will be responsible for the purchase and sale according to his relationship with the investor and to the guarantees and trust between the two.
The procedures issued by the Iraqi Association of Securities licensed the non-Iraqi investor who is not in Iraq, the appointment of an agent to follow up his affairs and receive his certificates, while the intermediary can not receive any cash from the non-Iraqi investor or his agent, and may not pay the sell cash; such operations must be carried out through a licensed bank in Iraq and in Iraqi dinar, and place the financial settlements by the time prescribed in the instructions for circulation to the seller.
http://www.iraqdirectory.com/DisplayNews.aspx?id=3489
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Iraq fuel prices up after more debt cancellationThe Oil Ministry has confirmed that the local and the exported fuel are being mixed and sold for 400 Iraqi dinars per litre in all the governorates except, Basra, Al-Anbar, and Salah al-Din Governorates.
The Ministry Spokesman, Asim Jihad told the newspaper that the government subsidiary is still exist despite the new increase in prices as the price of imported fuel ranging from 750-800 dinars per litre while the government sells it for 400 dinars with the new increase and 350 dinars for gas oil, 100 dinars for white kerosene, and 3,000 dinars for one cooking gas cylinder. He added that the excluded governorates will continue to sell with old prices of 300 dinars per litre of local fuel while some gas stations in Basra are selling with the new prices because the available product is mixed fuel. Mr Jihad said that the Iraqi delegation, consisting of the Oil, Finance Ministers and the governor of the Central Bank, has insisted in its discussions with the International Monetary Fund that the country's economy and citizens can not afford price increase more than 15 per cent. The Iraqi delegation has succeeded in convincing the Fund to have price increase not more than 50 dinars per litre. The fund has set a condition, to cancel 80 per cent of Iraq's debts, to make the oil products prices equal to that of the international prices which ranges from 750-800 dinars per litre of fuel.
The spokesman also said that the new increase has come after a new cancellation of about 20 per cent of Iraq's debts as the World Bank has fulfilled its promises to annul 80 per cent of Iraq's debts and that the ministry was obliged to increase the oil products prices in return of each 20 per cent cancellation of Iraq's entire debts mounting to 120bn dollars. Mr Jihad clarified that the ministry has set up a special mechanism to import oil products from private sector stating that private sector companies or foreign companies import oil products after getting approval from Oil Ministry including fuel with 91 per cent of Octane, gas oil and engine oils, liquid gas, white kerosene, asphalt and according to international standards identified by the ministry, to be transported, stored, and sold to the end user directly or through authorized agents, referring that the ministry will issue anexes tables for the international standards for the oil products.
It will also punish the companies which will violate these measures by imposing fees not less than 100 million dinars and do not exceed 300 million dinars in addition to confiscating the oil products. The information spokesman clarified that the oil products import law has exempted these products from customs fees and Iraq's reconstruction tax for two years starting from the date of validity while permits importing companies to establish private gas station and its own stores according to standards set up by the ministry.
Iraq fuel prices up after more debt cancellation | Iraq Updates
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Iraq fuel prices up after more debt cancellationThe Oil Ministry has confirmed that the local and the exported fuel are being mixed and sold for 400 Iraqi dinars per litre in all the governorates except, Basra, Al-Anbar, and Salah al-Din Governorates.
The Ministry Spokesman, Asim Jihad told the newspaper that the government subsidiary is still exist despite the new increase in prices as the price of imported fuel ranging from 750-800 dinars per litre while the government sells it for 400 dinars with the new increase and 350 dinars for gas oil, 100 dinars for white kerosene, and 3,000 dinars for one cooking gas cylinder. He added that the excluded governorates will continue to sell with old prices of 300 dinars per litre of local fuel while some gas stations in Basra are selling with the new prices because the available product is mixed fuel. Mr Jihad said that the Iraqi delegation, consisting of the Oil, Finance Ministers and the governor of the Central Bank, has insisted in its discussions with the International Monetary Fund that the country's economy and citizens can not afford price increase more than 15 per cent. The Iraqi delegation has succeeded in convincing the Fund to have price increase not more than 50 dinars per litre. The fund has set a condition, to cancel 80 per cent of Iraq's debts, to make the oil products prices equal to that of the international prices which ranges from 750-800 dinars per litre of fuel.
The spokesman also said that the new increase has come after a new cancellation of about 20 per cent of Iraq's debts as the World Bank has fulfilled its promises to annul 80 per cent of Iraq's debts and that the ministry was obliged to increase the oil products prices in return of each 20 per cent cancellation of Iraq's entire debts mounting to 120bn dollars. Mr Jihad clarified that the ministry has set up a special mechanism to import oil products from private sector stating that private sector companies or foreign companies import oil products after getting approval from Oil Ministry including fuel with 91 per cent of Octane, gas oil and engine oils, liquid gas, white kerosene, asphalt and according to international standards identified by the ministry, to be transported, stored, and sold to the end user directly or through authorized agents, referring that the ministry will issue anexes tables for the international standards for the oil products.
It will also punish the companies which will violate these measures by imposing fees not less than 100 million dinars and do not exceed 300 million dinars in addition to confiscating the oil products. The information spokesman clarified that the oil products import law has exempted these products from customs fees and Iraq's reconstruction tax for two years starting from the date of validity while permits importing companies to establish private gas station and its own stores according to standards set up by the ministry.
Iraq fuel prices up after more debt cancellation | Iraq Updates
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Ex-Im Bank's Annual Conference, April 12-13, to explore Iraq, international opportunities
S. exporters attending the Export-Import (Ex-Im) Bank of the United States Annual Conference on April 12 to 13 at the Omni-Shoreham Hotel in Washington, D.C. will have access to detailed information regarding billions of dollars of acquisitions in Iraq and throughout the world.
U.S., foreign government and private sector experts will provide specific information on project opportunities in the Middle East, Africa and for Panama Canal expansion.
"In addition to the superb networking opportunities and updated information about Ex-Im Bank financing tools that the Bank's Annual Conference always provides," Ex-Im Bank Chairman and President James H. Lambright said, the event "will offer U.S. exporters detailed information about infrastructure projects that are in the planning stages in important emerging markets, and how U.S. exporters can participate."
One discussion, entitled Project Opportunities in the Middle East, will take place April 13. An estimated $1 trillion of new public and private sector infrastructure projects are currently or will soon be under development in Saudi Arabia, the United Arab Emirates, Bahrain, Egypt and other countries of the region. This includes an estimated $100 billion in power and desalinization projects and over $320 billion in petrochemical, oil and gas, and Independent Water and Power Project projects in the Gulf Cooperation Council countries alone. Terry A. Newendorp, chairman and CEO, Taylor-DeJongh, Inc., and other Middle East experts at this session will focus on opportunities and potential issues relating to the large expansion.
Information about Ex-Im Bank's Annual Conference, including online registration, accommodations and program details, is available at Export-Import Bank of the United States.
Ex-Im Bank's Annual Conference, April 12-13, to explore Iraq, international opportunities | Iraq Updates
Ex-Im Bank's Annual Conference, April 12-13, to explore Iraq, international opportunities
S. exporters attending the Export-Import (Ex-Im) Bank of the United States Annual Conference on April 12 to 13 at the Omni-Shoreham Hotel in Washington, D.C. will have access to detailed information regarding billions of dollars of acquisitions in Iraq and throughout the world.
U.S., foreign government and private sector experts will provide specific information on project opportunities in the Middle East, Africa and for Panama Canal expansion.
"In addition to the superb networking opportunities and updated information about Ex-Im Bank financing tools that the Bank's Annual Conference always provides," Ex-Im Bank Chairman and President James H. Lambright said, the event "will offer U.S. exporters detailed information about infrastructure projects that are in the planning stages in important emerging markets, and how U.S. exporters can participate."
One discussion, entitled Project Opportunities in the Middle East, will take place April 13. An estimated $1 trillion of new public and private sector infrastructure projects are currently or will soon be under development in Saudi Arabia, the United Arab Emirates, Bahrain, Egypt and other countries of the region. This includes an estimated $100 billion in power and desalinization projects and over $320 billion in petrochemical, oil and gas, and Independent Water and Power Project projects in the Gulf Cooperation Council countries alone. Terry A. Newendorp, chairman and CEO, Taylor-DeJongh, Inc., and other Middle East experts at this session will focus on opportunities and potential issues relating to the large expansion.
Information about Ex-Im Bank's Annual Conference, including online registration, accommodations and program details, is available at Export-Import Bank of the United States.
Ex-Im Bank's Annual Conference, April 12-13, to explore Iraq, international opportunities | Iraq Updates
Central> : Iraqi Monetary Fund is putting pressure on monetary policy
Source : Dar Al-Hayat-26 / 03 / 2007
Mahaft denied the Iraqi Central Bank Sinan Shabibi be tight monetary policy, pursued by <Central>, as a result of pressure by the International Monetary Fund, pointed out that the policy falls within the framework of the central monetary reforms currently taking place in Iraq.
He explained that the policy of the Central Shabibi adopted as a result of the hard conditions experienced by the Iraqi economy, and the hyper-inflation causes substantial damage to the economy, the monetary impact on the value of the contracts, withdraw negatively on the estimates relating to the budget.
He pointed out that the policy <Central> aimed at achieving price stability, using monetary tools, the lifting of the dinar rate of exchange against foreign currencies, raising interest rates, which would lead to a reasonable indicators of inflation, which has become a threat to the country's economy and development.
Linking Shabibi success of this policy stability extent to which the consumer price through liquidity management.
He praised the state balancing of the current year, in terms of allocation and disbursement and the dimensions of development and investment, warned at the same time of economic imbalances that accompany a spending budget.
Shabibi called to the need for a mechanism to monitor the implementation of the budget, in particular the investment side of it, pointing out the need for the ministries financial ceiling allotted in the budget. In the area of economic reforms, called Shabibi to activate the productive sectors and increase their growth rates, to meet local market demand, provided that it does not result in an imbalance in the economy.
Central> : Iraqi Monetary Fund is putting pressure on monetary policy
Source : Dar Al-Hayat-26 / 03 / 2007
Mahaft denied the Iraqi Central Bank Sinan Shabibi be tight monetary policy, pursued by <Central>, as a result of pressure by the International Monetary Fund, pointed out that the policy falls within the framework of the central monetary reforms currently taking place in Iraq.
He explained that the policy of the Central Shabibi adopted as a result of the hard conditions experienced by the Iraqi economy, and the hyper-inflation causes substantial damage to the economy, the monetary impact on the value of the contracts, withdraw negatively on the estimates relating to the budget.
He pointed out that the policy <Central> aimed at achieving price stability, using monetary tools, the lifting of the dinar rate of exchange against foreign currencies, raising interest rates, which would lead to a reasonable indicators of inflation, which has become a threat to the country's economy and development.
Linking Shabibi success of this policy stability extent to which the consumer price through liquidity management.
He praised the state balancing of the current year, in terms of allocation and disbursement and the dimensions of development and investment, warned at the same time of economic imbalances that accompany a spending budget.
Shabibi called to the need for a mechanism to monitor the implementation of the budget, in particular the investment side of it, pointing out the need for the ministries financial ceiling allotted in the budget. In the area of economic reforms, called Shabibi to activate the productive sectors and increase their growth rates, to meet local market demand, provided that it does not result in an imbalance in the economy.
ANOTHER BENCHMARK CLOSE TO FINISH - from the presidency website - A LOT OF WORK FOR A VACATION
The Presidential Council was considering a bill abolishing the Baath
March 26, 2007March 26, 2007 .The Presidency was examining the draft of a law to uproot the Baath, and the Council is about to complete the final version of the law to be submitted to the parliament for ratification.
مكتب رئيس الجمهوريةThe Office of the President
ارجعAttributed
ANOTHER BENCHMARK CLOSE TO FINISH - from the presidency website - A LOT OF WORK FOR A VACATION
The Presidential Council was considering a bill abolishing the Baath
March 26, 2007March 26, 2007 .The Presidency was examining the draft of a law to uproot the Baath, and the Council is about to complete the final version of the law to be submitted to the parliament for ratification.
مكتب رئيس الجمهوريةThe Office of the President
ارجعAttributed
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low-$ (economy)
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Books : dhrgham on Monday, March 26, 2007 12:19 PM-BT
Reduced demand and the exchange rate for the dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Decreased demand for dollar in an auction today, Monday, the Central Bank recording the volume reached 61 million and 790 thousand dollars against 86 million and 755 thousand dollars for the day yesterday, Sunday,.
The breakdown of the purchase orders by 18 million and 925 thousand dollars in cash and 42 million and 865 thousand dollars in the form of remittances outside the country, the Bank has fully covered by the low exchange rate of 1276 dinars to 1277 dinars to the day yesterday, Sunday,.
While he did not make any of the banks (13) to participate in the auction, offers to sell the dollar
And between Mr. Yasiri, one of the dealers with the bank said that the decline in the exchange rate led to an increase in purchase offers cash as it hit 18 million and 925 thousand dollars today, compared with 15 million and 155 thousand dollars yesterday.
He added Yasiri News Agency (Voices of Iraq) Independent today, "The reason for the decline is attributed to a decline in demand for money transfers because of the lack of government today, with 42 million and 865 thousand dollars, compared with more than 71 million yesterday, Sunday, on remittances."
Version traduite de la page http://www.aswataliraq.info/?newlang=ara
low-$ (economy)
--------------------------------------------------------------------------------
Books : dhrgham on Monday, March 26, 2007 12:19 PM-BT
Reduced demand and the exchange rate for the dollar
Dargham of Muhammad Ali
Baghdad - (Voices of Iraq)
Decreased demand for dollar in an auction today, Monday, the Central Bank recording the volume reached 61 million and 790 thousand dollars against 86 million and 755 thousand dollars for the day yesterday, Sunday,.
The breakdown of the purchase orders by 18 million and 925 thousand dollars in cash and 42 million and 865 thousand dollars in the form of remittances outside the country, the Bank has fully covered by the low exchange rate of 1276 dinars to 1277 dinars to the day yesterday, Sunday,.
While he did not make any of the banks (13) to participate in the auction, offers to sell the dollar
And between Mr. Yasiri, one of the dealers with the bank said that the decline in the exchange rate led to an increase in purchase offers cash as it hit 18 million and 925 thousand dollars today, compared with 15 million and 155 thousand dollars yesterday.
He added Yasiri News Agency (Voices of Iraq) Independent today, "The reason for the decline is attributed to a decline in demand for money transfers because of the lack of government today, with 42 million and 865 thousand dollars, compared with more than 71 million yesterday, Sunday, on remittances."
Version traduite de la page http://www.aswataliraq.info/?newlang=ara
By KIM GAMEL, Associated Press Writer 44 minutes ago
BAGHDAD - The departing U.S. ambassador said on Monday that he believes
Iraq is heading in the right direction but cautioned that Iraqi leaders must understand that U.S. voters are increasingly impatient with the war.
Zalmay Khalilzad, who is leaving his post after 21 months that had seen a massive increase in violence in Baghdad overall, declared in a news conference that insurgent and militia attacks had decreased by 25 percent in the six weeks since the start of U.S.-Iraqi security plan on Feb. 14.
"I know that we are an impatient people, and I constantly signal to the Iraqi leaders that our patience, or the patience of the American people, is running out," said the Afghan-born Khalilzad, who has been nominated by
President Bush as American ambassador to the
United Nations.
Khalilzad's cautiously optimistic assessment on security coincided with the eruption of sectarian violence in a string of mixed Sunni-Shiite towns south of the capital Monday and over the weekend.
In Iskandariyah, 30 miles south of Baghdad, authorities slapped an indefinite curfew after two people were killed and two others were wounded in sectarian clashes sparked by an attack Monday on a Sunni mosque by suspected Shiite militants, police said.
Iraqi and U.S. forces sealed off the area where the mosque is located, but clashes erupted elsewhere in the town.
The mosque was slightly damaged by rocket-propelled grenades fired by the assailants.
In Mahaweel, a mainly Shiite town 35 miles south of Baghdad, a bomb planted near a Sunni mosque went off Monday morning, damaging the building but causing no casualties, police said.
The targeting of the mosques came one day after suspected Shiite militants attacked a Sunni mosque in Haswa, a town near both Iskandariyah and Mahaweel. The attack was in apparent retaliation for a suicide truck bombing against a Shiite mosque that killed 11 people on Saturday, also in Haswa.
Aides to Prime Minister Nouri al-Maliki have said that Washington has signaled that he must make progress on a series of benchmark legislative and political measures by June 30 or face a withdrawal of American support for his government.
The United States has denied making the threat but Khalilzad was clear Monday that al-Maliki was under heavy U.S. pressure to move rapidly on several issues, especially a law that would provide a fair distribution of Iraqi oil wealth among all ethnic and sectarian groups, a measure that is especially important to the White House.
He also said the Iraqis need to act on political and sectarian reconciliation between Sunnis and Shiites, and on amending the constitution to make it more palatable to the Sunnis. Despite repeated promises of quick action from the Iraqis and heavy pressure from the Americans, those measures still await action in parliament.
Khalilzad also said U.S. contacts with Sunni insurgents were ongoing and he noted progress in splitting some Sunni tribes away from the insurgency and from al-Qaida in Iraq in particular.
"There is a lot more that needs to be done," Khalilzad told the news conference.
In scattered violence Monday across Iraq, gunmen in two cars fatally shot an off-duty police officer walking near his home in the northern city of Mosul, according to Brig. Mohammed al-Wagaa, director of police operations in Ninveh province of which Mosul is the capital.
In Baghdad, one person was killed and three were wounded when three mortar shells hit a neighborhood in the mainly Sunni Dora district, according to police.
In the southeastern district of Zafaraniyah, a roadside bomb targeting a police patrol went off at 10:55 am, killing a police officer and wounding three, including a police captain, police said. Two civilians also were injured.
Khalilzad: U.S. patience 'running out' - Yahoo! News
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By KIM GAMEL, Associated Press Writer 44 minutes ago
BAGHDAD - The departing U.S. ambassador said on Monday that he believes
Iraq is heading in the right direction but cautioned that Iraqi leaders must understand that U.S. voters are increasingly impatient with the war.
Zalmay Khalilzad, who is leaving his post after 21 months that had seen a massive increase in violence in Baghdad overall, declared in a news conference that insurgent and militia attacks had decreased by 25 percent in the six weeks since the start of U.S.-Iraqi security plan on Feb. 14.
"I know that we are an impatient people, and I constantly signal to the Iraqi leaders that our patience, or the patience of the American people, is running out," said the Afghan-born Khalilzad, who has been nominated by
President Bush as American ambassador to the
United Nations.
Khalilzad's cautiously optimistic assessment on security coincided with the eruption of sectarian violence in a string of mixed Sunni-Shiite towns south of the capital Monday and over the weekend.
In Iskandariyah, 30 miles south of Baghdad, authorities slapped an indefinite curfew after two people were killed and two others were wounded in sectarian clashes sparked by an attack Monday on a Sunni mosque by suspected Shiite militants, police said.
Iraqi and U.S. forces sealed off the area where the mosque is located, but clashes erupted elsewhere in the town.
The mosque was slightly damaged by rocket-propelled grenades fired by the assailants.
In Mahaweel, a mainly Shiite town 35 miles south of Baghdad, a bomb planted near a Sunni mosque went off Monday morning, damaging the building but causing no casualties, police said.
The targeting of the mosques came one day after suspected Shiite militants attacked a Sunni mosque in Haswa, a town near both Iskandariyah and Mahaweel. The attack was in apparent retaliation for a suicide truck bombing against a Shiite mosque that killed 11 people on Saturday, also in Haswa.
Aides to Prime Minister Nouri al-Maliki have said that Washington has signaled that he must make progress on a series of benchmark legislative and political measures by June 30 or face a withdrawal of American support for his government.
The United States has denied making the threat but Khalilzad was clear Monday that al-Maliki was under heavy U.S. pressure to move rapidly on several issues, especially a law that would provide a fair distribution of Iraqi oil wealth among all ethnic and sectarian groups, a measure that is especially important to the White House.
He also said the Iraqis need to act on political and sectarian reconciliation between Sunnis and Shiites, and on amending the constitution to make it more palatable to the Sunnis. Despite repeated promises of quick action from the Iraqis and heavy pressure from the Americans, those measures still await action in parliament.
Khalilzad also said U.S. contacts with Sunni insurgents were ongoing and he noted progress in splitting some Sunni tribes away from the insurgency and from al-Qaida in Iraq in particular.
"There is a lot more that needs to be done," Khalilzad told the news conference.
In scattered violence Monday across Iraq, gunmen in two cars fatally shot an off-duty police officer walking near his home in the northern city of Mosul, according to Brig. Mohammed al-Wagaa, director of police operations in Ninveh province of which Mosul is the capital.
In Baghdad, one person was killed and three were wounded when three mortar shells hit a neighborhood in the mainly Sunni Dora district, according to police.
In the southeastern district of Zafaraniyah, a roadside bomb targeting a police patrol went off at 10:55 am, killing a police officer and wounding three, including a police captain, police said. Two civilians also were injured.
Khalilzad: U.S. patience 'running out' - Yahoo! News
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26 Mar 2007 13:13:00
Currency
ID exchange rate hikes
Baghdad (NINA)- The Iraqi Dinar exchange rate hiked against the US Dollar in the Central Bank of Iraq’s auction on Monday. The US Dollar was sold at ID1276 on Monday, while it was sold at ID1277 last Sunday The CBI sales of US dollars decreased compared with last Sunday as it sold 61,790,000