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How to invest in Iraq, with Shwan Taha, Rabee Securities CEO
video
http://articlesofinterest-kelley.blogspot.com/2010/04/how-to-invest-in-iraq-with-shwan-taha.html
vietnam currency-dong rv close
April 30, 2010 · Posted in NEWS · 1 Comment
ANZVL allowed to supply forex services
The State Bank of Vietnam (SBV) issued Document No.3113/NHNN-TTGSNH on April 27 to assert that the ANZ Bank (Vietnam) Limited (ANZVL) has registered to provide foreign exchange services to its customers.
Accordingly, the ANZVL has registered to conduct forex services in the Vietnamese market as follows: discounting and rediscounting of valuable papers in foreign currencies; authorizing other credit institutions and/or economic entities to act as agents to conduct money exchange, including acceptance and payment of foreign currencies, and other services; providing trust and asset management services; and investment banking services (M&A, underwriting and issuing stocks in foreign currencies…).
The ANZVL is required to strictly comply with the SBV regulations and other relevant legal documents on forex services.
Diem Hang
Date 29/04/2010
United Nations Treasury
United Nations Operational Rates of Exchange
Schedule of UN Operational Rates of Exchange 2010
http://www.un.org/depts/treasury/
29 April 2010
PR/2010/5
PRESS RELEASE
GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION
CONCLUDES ITS SIXTY-NINTH SESSION AND PAYS OUT US$590 MILLION
The Governing Council of the United Nations Compensation Commission, under the Presidency of Ambassador Christian Strohal (Austria), has today concluded its sixty-ninth session. At this session, the Council elected Brazil as one of the Vice Presidents of the Governing Council. Brazil replaces Costa Rica which held vice-presidency for the period 2008-2009. Japan currently holds the other vice-presidency.
Representatives of Kuwait and Iraq addressed the fifteen-member Governing Council at its opening plenary meeting.
At the session, the Council considered a report from the Executive Head of the UNCC Secretariat on the activities of the Commission since the last session; and a report on distribution by Governments and international organisations of payments to successful claimants, the transparency of the distribution process, and the return of undistributed funds.
The Council also heard a briefing from the Secretariat on the progress made to date by participating Governments under the Follow-up Programme for Environmental Awards as established by decision 258 (2005).
The Programme was established to monitor the implementation of approximately $4.3 billion of environmental remediation and restoration projects being undertaken by the Governments of Iran, Jordan, Kuwait and Saudi Arabia with funds awarded under the F4 category of claims to ensure financial transparency and technical reasonableness.
The Council decided to hold its next regular session from 9 to 11 November 2010.
Today, the United Nations Compensation Commission also made available a total of $590,000,000 to the Government of the State of Kuwait for distribution to nine successful claimants.
Payment is being made in respect of 5 claims in category E (claims of corporations and public sector enterprises) and 4 claims in category F (claims of Governments and international organizations, including environmental claims).
Under decision 267 (S/AC.26/Dec.267 (2009)), the nine remaining category E and F claims, all awarded to Kuwait, are paid on a quarterly basis in rounds of $10 million, in the order in which they have been approved. This payment brings the overall amount of compensation made available to date by the United Nations Compensation Commission for successful claims of individuals, corporations, and Governments and international organizations to $29,498,814,044.
This leaves an outstanding balance of approximately $22.9 billion that remains owing to Kuwait.
Successful claims are paid with funds drawn from the United Nations Compensation Fund,which is funded by a percentage of the proceeds generated by the export sales of Iraqi petroleum and -2-petroleum products. This percentage is currently at 5 per cent in accordance with paragraph 21 of Security Council resolution 1483 (2003).
snip ~
21. Decides further that 5 per cent of the proceeds referred to in paragraph 20 above shall be deposited into the Compensation Fund established in accordance with resolution 687 (1991) and subsequent relevant resolutions and that, unless an internationally recognized, representative government of Iraq and the Governing Council of the United Nations Compensation Commission, in the exercise of its authority over methods of ensuring that payments are made into the Compensation Fund, decide otherwise, this requirement shall be binding on a properly constituted, internationally recognized, representative government of Iraq and any successor thereto;
http://www.casi.org.uk/info/undocs/s...03/res1483.pdf
Office of the United nations
SIXTY-NINTH SESSION OF THE UNCC GOVERNING COUNCIL TO BE HELD FROM 27 TO 29 APRIL - IRAQ/KUWAIT
starting in 15 min.
Conference Call with Enorrste, TerryK & Gankans: Iraqi dinar rv
* Wednesday, April 28, 2010
* 10pm EST
* Conference Call # 760-569-7676
* Pass Code# 954958
Conference Call with Enorrste, TerryK & Gankans: Iraqi dinar rv
* Wednesday, April 28, 2010
* 10pm EST
* Conference Call # 760-569-7676
* Pass Code# 954958
Blocking currency from re-entering Iraq Dear Warka Clients
Dear Warka Clients,
Please note that we have just been informed that Iraqi Customs will no longer permit courier companies to receive and deliver packages containing funds of any currency and strictly prohibits this matter locally. The client will bear the full responsibility and risk of sending funds by mail where the bank will not bear any financial or legal responsibility for the funds sent by mail.
Best regards,
Warka Bank for Investment and Finance
http://www.warka-bank.com/inner.php?type=3&id=74
The IMF’s fiscal year comes to an end on APRIL 30TH
http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=460&date1key=2010-03-31&category=EXCHRT
TUESDAY - THURSDAY, APRIL 27th - 29TH GENEVA ~ UN - IRAQ - KUWAIT - DISCUSS COMPENSATION ...
The Board of Directors of the United Nations Compensation discusses various issues related to tomorrow between Iraq and Kuwait
26/04/2010 - 12:35 pm
Discusses the Governing Council of the United Nations Compensation Commission at its meeting which starts here on various issues related to the work of the Committee, including reports on the activities of the Secretariat of the compensation since the last session in November 2009.
The United Nations announced from its European headquarters in Geneva, in a press statement today that the Governing Council of the United Nations Compensation Commission would hold its first 69 in the period from 27 to 29 April under the chairmanship of the Austrian Ambassador Strohal.
The Governing Council also discussed and follow-up program for environmental awards established by the Board to monitor the implementation of technical and financial support for environmental rehabilitation and renovation projects and the distribution by Governments and international organizations of payments to claimants and transparency in the process of distribution and return of undistributed funds.
The United Nations Commission on Compensation is a subsidiary organ of the UN Security Council established in accordance with Security Council resolutions 687 of the year (1991) and 692 for the year (1991) to process claims and pay compensation for direct losses and damage suffered by individuals, corporations, governments and international organizations as a direct result of Iraq's invasion and occupation unlawful for the State of Kuwait from the period between August 2, 1990 and March 2, 1991.
The Commission received approximately 7.2 million request made by 97 countries on behalf of their nationals or by or for governments to collect compensation for losses resulting from Iraq's invasion of Kuwait and the total value of identified affected about 352 billion dollars.
Those affected also 13 offices of three international organizations have applied for compensation on behalf of individuals they can not submit their applications through government agencies, as well as the demands of businesses and other private legal entities and public sector institutions such requests by Governments and international organizations.
And submitted to the Compensation Commission nearly 9.28 billion dollars for governments and international organizations for distribution to successful claimants were approved to accept where the payment of those funds from the United Nations Compensation Commission, which currently receives 5 percent of revenues from export sales of petroleum and petroleum products in Iraq
"Iraq Status Report"
http://www.state.gov/p/nea/rls/rpt/c34687.htm
International Monetary and
Financial Committee
Twenty-First Meeting
April 24, 2010
http://www.imf.org/External/spring/2...nt/eng/are.pdf
http://www.fincen.gov/
Iraqi dinar sales. While it is not necessarily illegal to buy or sell Iraqi currency
Suspicious Activity Involving the Iraqi Dinar
Over the last year, the circumstances of the war in Iraq have created the phenomenon
of businesses trading in new Iraqi dinars. Many of these businesses
advertise or conduct business over the Internet, and suggest that the Iraqi
dinar, much like the Kuwaiti dinar following Operation Desert Storm, will increase
in value exponentially following United States military involvement in
Iraq. Most investors purchase dinars from websites established particularly
for selling dinars or from major auction websites.
FinCEN has been receiving inquiries regarding the legitimacy of websites offering
Iraqi dinar sales. While it is not necessarily illegal to buy or sell Iraqi
currency, there are a number of risks and compliance concerns for the financial
community. For example, Iraqi officials state that it is illegal under Iraqi
law to export dinars. Therefore, in addition to questions about the source of
the currency, and the potential for investment or securities fraud, businesses
offering to sell dinars may also pose the risk of being used to fund terrorism
or as a vehicle for money laundering.
FinCEN also has a particular interest
in these businesses because they may be money services businesses required
to comply with the Bank Secrecy Act.
Any United States entity that buys or sells currency, including Iraqi dinars,
in amounts of more than $1,000 U.S. to any one person in one day may be a
money services business under FinCEN’s regulations at 31 C.F.R. Section
103.11(uu). [Note: there have been questions about the old dinar with Hussein’s
picture on it. That dinar ceased to be legal tender around January 15,
2004 and thus ceased to be currency for purposes of the Bank Secrecy Act.]
Money services businesses include:
• Money transmitters;
• Currency Dealers or Exchangers (except those who do not exchange
more than $1,000 in currency or monetary or other instruments for any
person on any day in one or more transactions);
• Check cashers (except those who do not cash checks in an amount
greater than $1,000 in currency or monetary or other instruments for
any person on any day in one or more transactions);
• Issuers, sellers, or redeemers of traveler’s checks, money orders, or
stored value (except those who do not issue, sell or redeem such instruments
in an amount greater than $1,000 in currency or monetary for or from any person on any day in one or more
transactions)
more info
http://www.fincen.gov/news_room/rp/files/sar_tti_08.pdf
Deputy U.S. ambassador to discuss with Sawic cooperation in the areas of economy and energy
19/4/2010 - 14:38
BAGHDAD / Aswat al-Iraq: the Deputy Iraqi Prime Minister Nuri al-Rose Shaways, Monday, U.S. Deputy Ambassador for Economic Affairs, Ambassador Patricia Haslak, a meeting of the Coordination Committee of Iraq - the Inter-American in the field of economy and energy under the Strategic Framework Agreement.
A statement of the American embassy in Iraq has received Agency (Voices of Iraq) copy of it today that "Iraqi Deputy Prime Minister Ruz Nuri Shawis and the Deputy U.S. Ambassador for Economic Affairs, Ambassador Patricia Haslak today had a meeting of the Coordination Committee of Iraq - the Inter-American in the field of economy and energy under the Strategic Framework Agreement" .
The statement added that "the Joint Coordinating Committee with the support capabilities of the Iraqi government to build a diversified economy and advanced to ensure the integration of Iraq into the international community."
He pointed out that "these efforts are part of the overriding objective of the strategic framework agreement seeking to establish a strategic partnership between the United States and Iraq through the establishment of links between the two peoples."
Iraqi delegation is looking at Vietnam to enhance diplomatic and economic relations
20/4/2010 - 15:03 20/4/2010 - 15:03
BAGHDAD / Aswat al-Iraq: Iraqi diplomat met with the delegation headed by Under-Abawi, however, the Iraqi foreign ministry Tuesday in Vietnam Deputy Prime Minister of Vietnam and Foreign Minister Pham uniforms, tents, were examined ways to strengthen diplomatic and economic ties between the two countries.
And cross-Abawi, in a statement published today on the Ministry of Foreign Affairs of Iraq, about Iraq's desire "in establishing strong relations between the two countries in various fields, also provided an explanation of the situation in Iraq, especially after the success of legislative elections that took place recently and the aspirations of Iraqis to the government of national partnership."
For his part, Vice Prime Minister of Vietnam and Foreign Minister Pham uniforms tent support for Vietnam's ongoing democratic process in Iraq and the progress in the field of security and economic and said, "We in Vietnam always support you and follow and understand all the developments including the ongoing political process and are happy to stabilize the situation and look forward to the return of deep-rooted historical relations between the two countries.
The tents, according to the statement, his country's readiness to meet any needs requested by Iraq, and stressed that Vietnam will take all steps to re-open the Vietnamese Embassy in Baghdad as soon as possible."
?
http://ar.aswataliraq.info/?p=217834
Iraq: Exchange Rate
as of March 31, 2010
April 30, 2009 0.000570626
http://www.imf.org/external/np/fin/tad/exportal.aspx?memberKey1=460&date1key=2010-03-31&category=EXCHRT
Iraq Date Exchange Rate by year
??Apr-10 ?
30-Apr-08 0.000512352 Wednesday
30-Apr-07 0.000516326 Monday
28-Apr-06 0.000460244 Friday
29-Apr-05 0.000451682 Friday
22-Sep-04 0.000466938
08-Sep-03 2.53758
30-Apr-02 2.53758
30-Apr-00 2.43852 Sunday
30-Apr-99 2.38074 Friday
30-Apr-98 2.38881 Thursday
30-Apr-97 2.3558 Wednesday
30-Apr-96 2.21848 Thursday
30-Apr-95 2.04504 Sunday
30-Apr-94 2.26323 Saturday
30-Apr-93 2.26004 Friday
30-Apr-92 2.34852 Thursday
30-Apr-91 2.39924 Tuesday
30-Apr-90 2.46985 Monday
28-Apr-89 2.48283 Friday
29-Apr-88 2.32407 Friday
30-Apr-87 2.46269 Thursday
30-Apr-86 2.73556 Wednesday
30-Apr-85 3.24557 Tuesday
1. The arrival of 13 ships loaded with goods to the ports of Umm Qasr and Abu Flus
19 04 2010
BASRA, Iraq (AP AP) - arrived in the ports of Umm Qasr and Abu Flus many ships loaded with cars and electrical materials and cement, from a number of flag States.
The Director of Information ports Anmar net told Iraq was awarded to our home ports of sidewalks or shorter and Abu Flus 13 different nationalities of the ship, loaded with Ballhoyat different commercial materials.
The docked Aontek Crown from Panama, carrying 297 vehicles and the ship Hutter Panama and carried 96 cars and the ship Afessan Crete from Panama also 482 car and the ship Cornell Qendez of the same nationality on board, 310 car, ship ABL from Singapore carrying 336 containers and the ship Delms Kolosoala of Bertc 363 cargo containers and the ship of Singapore in particular any container or vessel 560 Nasser Core Bash and the ship Salmi 5 of Panama has been charged miscellaneous goods.
He added, net "and received the port as well," commercial vessel (Rise - Kerr Renward) from Panama tonnage (13355) tons of miscellaneous goods, including electrical equipment imported for the Ministry of Electricity and include two pieces weighing (189) tons . In addition to the four pieces weighing (213) tons. This comes within the framework of the plan and the Ministry of Electricity in the development of power plants and increase production capacity and the net either Abu Flus port has received the day itself, four ships, including three trading ships coming from the Islamic Republic of Iran and loaded with material of cement, which steamer (Ahmadi) payload (1000) tons, and the vessel (sergeant) with tonnage (1300) tons, and the ship (Ferdn) with tonnage (1600) tons, and the Panamanian vessel (Mac 6) with tonnage (995) a container coming from the United Arab Emirates.
The Iraqi ports have witnessed during the past months of this year, the flow of large amounts of construction materials and construction significantly add to the grain, food and equipment.
http://translate.google.com/translate?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://iraq-beituna.net/iba/index.php%3Foption%3Dcom_content%26view%3Darticle%26id%3D12472:-13---------%26catid%3D4:2009-07-21-20-31-45%26Itemid%3D5&prev=_t
The Collectors Coach's
What is the Iraqi Dinar?
May be ready to China revalued the yuan under U.S. pressure
Daniel Bardsley, Foreign Correspondent Daniel Bardsley, Foreign Correspondent
* Last Updated: April 10. Last Updated: April 10. 2010 9:05PM UAE / April 10. 2010 9:05 PM UAE / April 10. 2010 5:05PM GMT 2010 5:05 PM GMT
BEIJING // China appears to be responding to heated criticism from the US and other major trading partners that its currency is undervalued, but any change by the world's export powerhouse could be felt in the Gulf. BEIJING / / China Appears to be heated Responding to Criticism from the U.S. and Other major trading partners currency is undervalued ITS That, But Any change by the world's export powerhouse Could Be Felt in the Gulf.
Speculation has increased that China will allow its currency to rise after talks between the Chinese vice premier Wang Qishan and the US Treasury secretary, Timothy Geithner. Speculation has Increaser That China will allow currency to rise after-STI Talks Between the Chinese vice premier Wang Qishan and the U.S. Treasury secretary, Timothy Geithner.
The New York Times has said that sources suggested a consensus had been reached for a revaluation of the yuan and that a new currency policy could be announced before Hu Jintao, the Chinese president, travels to Washington for a nuclear security summit that starts on Monday. The New York Times has said sources suggest a consensus That HAD Been Reached for a reassessment of the yuan and a new currency policy That Could Be Announced Before Hu Jintao, the Chinese president, travels to Washington for a nuclear security summit That starts on Monday.
According to the paper, Beijing would allow a “small but immediate” revaluation and thereafter allow the currency to trade within a broader daily band, as a way of curbing domestic inflation. According To the paper, Beijing would allow a "small but immediate" reassessment and thereafter allow the currency to trade daily Broader Within a band, as a way of curbing domestic inflation ". Such a move could have implications for other currencies pegged to the dollar, including those in the Gulf. Such a move Could Have Implications for Other Currencies pegged to the dollar, Including Those in the Gulf.
The yuan has been held at close to 6.83 to the dollar for nearly two years, something that has aroused anger among US politicians and manufacturers who insist they are facing unfair competition from China which keeps the value of its currency too low against those of its rivals. The yuan has Been Held at close to 6.83 to the dollar for Nearly two years, something has Aroused That anger Politicians and Manufacturers Among Us Who Insist They Are Facing Unfair competition from China Which Keeps the value of Its currency too low Against Those of Its Rivals .
The reaction within China to repeated calls for an appreciation of the yuan has been equally forthright, with commentators accusing the US of “China-bashing” and scapegoating the country for the economic problems of the United States. The reaction Within REPEATED calls for China to an Appreciation of the yuan has-been Equally forthright, with Commentators accusing the U.S. of "China-bashing" and scapegoating the country for the Economic Problems of the United States.
However, a recent decision by the US Treasury to delay the release of a report that could brand China a currency manipulator, which would lead to heavy duties being imposed on Chinese goods entering the US, indicated that both sides were keen to find a resolution without allowing the issue to escalate. However, in Recent decision by the U.S. Treasury to delay the release of a report That Could brand China a currency manipulator, Which would lead to heavy Duties Imposed on Chinese Goods Being Entering the U.S., Indicated That Both Sides Were keen to find a resolution Without Allowing the issue to escalate. Mr Geithner met Mr Wang for 75 minutes during a stopover in Beijing on Thursday. Mr Wang Mr Geithner met for 75 minutes During a stopover in Beijing on Thursday.
Many analysts had earlier suggested that China would allow an appreciation of between 3 and 5 per cent in the second half of this year, although some have said Chinese manufacturers could face a more difficult climate in the period, making it harder for Beijing to allow an appreciation. Many Analysts HAD Earlier Suggested That China would allow an Appreciation of Between 3 and 5 per cent in the second half of this year, said although Chinese Manufacturers Have Some Could Face a More Difficult climate in the Period, making it harder for Beijing to allow an Appreciation.
Ben Simpfendorfer, the chief China economist at the Royal Bank of Scotland, said he expected an initial appreciation of the yuan of about 2 per cent, followed by a further gradual strengthening. Ben Simpfendorfer, chief China economist at the the Royal Bank of Scotland, said an initial I Expected Appreciation of the yuan of about 2 per cent, Followed by a gradual weitere Strengthening. He predicted that the initial rise would take place “in weeks rather than days”. I Predicted That the initial rise would take place "Rather Than days in weeks."
Analysts have suggested that if the Chinese currency was depegged from the dollar, it would increase speculation that other pegged currencies, including those of the Gulf, would follow suit. Analysts Have Suggested That Was if the Chinese currency depegged from the dollar, it would Increase That speculation pegged Other Currencies, Including Those of the Gulf, would follow suit. However, the more likely scenario for the moment is a widening of the allowable daily trading range, rather than an outright decoupling. However, the more Likely scenario for the moment is a Widening of the Allowable daily trading range, Rather Than an outright decoupling.
Still, if China did eventually decouple from the dollar, there would be “an expectation” that Gulf countries such as the UAE would follow suit, according to Mr Simpfendorfer. Still, if China did Eventually decoupled from the dollar, There would be "an expectation" That Gulf Countries Such as the UAE would follow suit, According To Mr Simpfendorfer.
But others say that with oil priced in dollars, there is a compelling reason for oil-producing countries' currency to be linked to the dollar. Others Say That But with oil priced in dollars, There is a compelling reason for oil-producing country clubs' currency to be linked to the dollar.
For decades China has linked the value of the yuan to the US dollar. For Decades China has linked the value of the yuan to the U.S. dollar. In 2005 the link was broken, only to be reinstated in July 2008, by which time the yuan had risen by 20 per cent against the dollar. Was In 2005 the broken link, only to be reinstated in July 2008, by Which HAD time the yuan by 20 per cent Risen Against the dollar.
dbardsley@thenational.ae dbardsley@thenational.ae
http://www.thenational.ae/apps/pbcs.dll/article?AID=/20100410/BUSINESS/100409728/1133
Definition of "Iraqi Dinar" in Forex Trading
Definition of:
Iraqi Dinar
in Forex Trading
The Iraqi dinar is the official currency of the country of Iraq.
Currency Name:Iraqi Dinar
Country: Iraq
Commonly called: Dinar, Iraq dinar
ISO 4217 Currency Code: IQD
Relevant Central Bank: Central Bank of Iraq
http://forex.tradingcharts.com/glossary/World%20Currencies/Iraqi%2BDinar.html
For the first time a project to map investment to Iraq with UN backing
The price of a number of members of the investment bodies in the provinces, experts and academics meaningful steps to prepare an investment map of Iraq, expressing hope to use it to serve investors and get them to their targets and regarding them the first step
That contribute to the definition of opportunities and investment projects and marketed to the world.
Participants expressed privately to (economic Sabah) on the sidelines of the seminar hosted by the Sama beauty working in collaboration with the United Nations and the British and Nathan gateway to Iraq. They hoped to accomplish this map, similar to what exists in other countries.
Dr. Adnan Zuwein said: "The draft map of Iraq investment is of great importance owing to the influx of international companies of the country to take advantage of opportunities and investment projects offered by more than one source and that the need for this project has become urgent because it plays a role in the definition of who wish to invest is a road map for them to access their targets for the United Nations had to fund this project and to assign one of the world to be done over one year, a British company that Nathan has extensive experience in this area, which in turn cost the company gateway to Iraq and the Sama Beauty branch in Baghdad. Director of Investment Salah al-Din Hamad essence stallion said: "The preparation of a map of the investment in the country certainly serves the aspirations of each investment, a step taken by the. Many countries have preceded us in this area and Salah ad Din province is counting on this project and is supported by and among the concerns of the United Nations of this economic activity, distinguished either member of the investment Diyala Mariam Shaaban has praised the efforts that will assist local efforts to market the investment and said we need this kind of support we have always wished to stand international destinations on our side. That the interest of the United Nations, this activity demonstrates the importance and role in the effective operation of the marketing investment and the competent authorities concerned to provide all information to the concerned authorities for the completion of this pilot project, which preceded us in the completion of many countries, member of the Investment Commission of Najaf Anwar
Ali Haboubi expressed his willingness to cooperate in order
The success of the efforts to find the investment map of Iraq, expressing his hope that this project will contribute
To attract investors and facilitate their access to their goals, either of Economic Research Development Manager
Faleh al-Ala in the company behind it said: "The
Investment Map in Iraq was
The fundamental basis for investment and would secure sites for investment and economic viability of the Iraqi investors and foreign companies invested and a map will promote the economy
Iraq to keep up with the developed countries because the companies will start with the big global investment map of the country and the project creates a strong economy for the region that Iraq is mediating many countries productivity, consumer and agricultural exploitation of its wealth and advantages of the rich.
And details of the project director said the company's management Ghazwan Younis Hadi: The project will start collecting information from the national investment and bodies of local investment and diagnosis of the obstacles facing investment and study of rudiments of investment and economic feasibility in every province and coordination of work through field visits to the provinces and ministries, universities and companies, economists and work on creation of large-scale projects without relying on foreign companies the world.
The project, will provide courses and meetings with employees in the bodies of investment to develop their abilities and sharing the experiences of countries that have achieved remarkable successes in terms of investment, such as Brazil, Egypt, Jordan, Bulgaria, Syria
http://www.iraqdirectory.com/DisplayNewsAr.aspx?id=12125
Countries with the Fastest Growing Economies
Country GDP real growth rate (%)
1 Iraq 52.3
2 Chad 38.0
3 Liberia 21.8
4 Equatorial Guinea 20.0
5 Venezuela 16.8
6 Ukraine 12.0
7 Angola 11.7
8 Ethiopia 11.6
9 Liechtenstein 11.0
10 Mongolia 10.6
11 Tajikistan 10.5
12 Uruguay 10.2
13 Azerbaijan 9.8
14 Georgia 9.5
15 China 9.1
16 Kazakhstan 9.1
17 Armenia 9.0
18 Qatar 8.7
19 Argentina 8.3
20 Mozambique 8.2
http://www.aneki.com/fastest_growing_economies.html
1 US Dollar(s) = 1111.1 Iraqi Dinar(s)
Currency Converter Results
Tuesday, March 30, 2010
1 US Dollar(s) = 1111.1 Iraqi Dinar(s)
1 IQD = 0.000900009 USD
1 USD = 1111.1 IQD
http://www.gocurrency.com/v2/dorate.php?inV=1&from=USD&to=IQD&Calculate=Convert
March 28, 2010
The U.S. Army: transfer the power of the airspace to the Iraqi side
????? ? ?????? Baghdad morning
U.S. military confirmed that the authority of the airspace would be the last tasks to be delivered to the Baghdad government before a full withdrawal of U.S. troops before the end of 2011.
A spokesman for U.S. forces Gen. Stephen Lanza said that both Iraq and the U.S. are working together for the transfer of airspace control to the Iraqi government troops leave the country before the end of 2011 under the security agreement between the two sides.
And Gen. Lanza in a press statement that its forces are now working with the Iraqi government to transfer the power of the airspace to the Iraqi side and there are many discussions in the last term in this regard, as will be the handover of sovereignty at the airport and other areas nearby, adding that the handover of airspace to The Iraqi government will be the last thing to be handed over before leaving Iraq in accordance with the security agreement.
Equipment and on military land, air, Lanza said that at their departure from Iraq would leave a lot of equipment for the Iraqi ground forces, as they did last time, As for the Air Force, the arm requires a government decision to require the purchase of aircraft to bring equipment and logistics expertise with, and this is left to the Secretary of Defense and the next government to take such a decision.
He explained that Iraq purchased a number of helicopters MI-17 cargo planes and also of the C-130, regardless of the quality of the air force, which will be purchased and the quality of fighter aircraft, this depends on the Iraqi government's decision.
And Lt. Gen. Lanza what will happen to Iraq in the year and a half remaining before the departure of U.S. forces will enable him to build an integrated military force, at the same time stressing the need to work in conjunction with the Iraqi government to build the economic strength and development in the country.
alsabah
From other forum
100% Proof that there will be an RV!
Originally posted by ganskans
ENJOT IT LIKE I DID!!!! happy RV
Dear Skeptic, Fearful, Worried, and/or Faithful Friends,
I’m going to do my best to break down the documentation of all these confusioning IMF and UNSC documents, so we may ease the anxiety and noise in all of our heads once and for all. I’m sure this will provide you with much peace of mind. Follow me closely on this and you will see the RV coming to fruition my friends.
Steps to Follow:
1) UNSC Resolution 1483 says the following:
We all understand that Iraq has been under Chapter VII restrictions- which include disarmament of Iraqi weapons of mass destruction, and depositing into the Development Fund for Iraq of proceeds from export sales of petroleum, petroleum products and natural gas and the arrangements referred to in paragraph 12 of resolution 1483 (2003).
Analysis:
We have seen that recent news articles from Russia, Iran and France asking for the release of these restrictions- right? The answer is yes. We have also seen the evidence that Cargo ships have been dropping off supplies for infrastructure purposes as well as many other purposes that go against the UN resolution. This tells me that the UN has already lifted these restrictions and that the UNSC has just been waiting for Iraq to come out and tell the world about the RV announcement (Action Plan). Believe me, the UN is not happy about having this.
2) We also recognize that in UNSC resolution (decree, declaration, or promise) 1905 says the following:
Recognizing the significant role of the Development Fund for Iraq and the
International Advisory and Monitoring Board (IAMB), and the provisions of paragraph 22 of
resolution 1483 (2003) in helping the Government of Iraq to ensure that Iraq’s
resources are being used transparently and accountably for the benefit of the Iraqi
people, and recognizing also the need for Iraq during 2010 to transition to successor
arrangements for the Development Fund for Iraq and the International Advisory and
Monitoring Board (IAMB), to include the Committee of Financial Experts (COFE).
Analysis:
The UNSC understands that the importance of the DFI.
Development fund of Iraq (DFI): In May 2003, following the invasion of Iraq in March of that year, the Central Bank of Iraq -Development Fund for Iraq (DFI) account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority (CPA) Administrator. The Development Fund for Iraq receives 95% of the government proceeds from Iraqi oil sales.
That being said, the CBI wants the DFI revenues to be coming directly into their pockets and Iraq has requested and agreed to resolution (contract) 1905- that they will be providing “successor arrangements for the DFI”. Iraq is contractually obligated to do so! They are the ones who have requested to this obligation. Continue to follow me closely.
Acting under Chapter VII of the Charter of the United Nations, [see step #1]
Calls upon the Government of Iraq to put in place the necessary action
plan and timeline by 1 April 2010 and to ensure the timely and effective transition to
a post-Development Fund mechanism by 31 December 2010, which takes into
account IMF Stand-By Arrangement requirements and includes external auditing
arrangements and enables Iraq to meet its obligations as established in the
provisions of paragraph 21 of resolution 1483 (2003);
Analysis:
Notice the following: “The Charter (contract) of the UN calls upon (requires) the GOI to put into place the necessary (required, obligatory, or mandatory) “Action Plan” and timeline by April 1st, 2010”! It also says, “To ensure (guarantee) the timely and effective (successful) transition (changeover) to a post-DFI mechanism (system) by Dec. 31st, 2010.
This takes into account the IMF Stand-By Arrangement (SBA) requirements (Iraq’s exchange rate regime is classified as stabilized against the U.S. dollar.
The exchange rate regime is the way a country manages its currency in respect to foreign currencies and the foreign exchange market. It is closely related to monetary policy and the two are generally dependent on many of the same factors. The basic types are a floating exchange rate, where the market dictates the movements of the exchange rate.
In recent news articles we have see that Shabibi and Maliki have clearly stated that they are looking in to a “Managed Float” when they decide to bring the Iraqi dinar to the international currency market. More evidence of this is this sentence in UNSC resolution 1905. “Iraq continues to avail (reward or take advantage) itself of the transitional arrangements under Article XIV.
What they are referring to in the IMF’s Article XIV? This article states that Iraq is requesting to be released from any restrictions related with its’ currency, so they may bring the Iraqi dinar to the open market to be traded internationally (RV). Understand, that a government doesn’t go about embarrassing itself by requesting something of this magnitude and then turn around and do a LOP- for all you none believers. A government (like Iraq) does this to make a boat load of money off of their currency, create a more stable and peaceful nation, and put themselves in an elite financial class economically- like the U.S., China, and many other 1st world countries.
Conclusion:
So when someone says to me any of the following:
• This is a pipe dream. You’re crazy!
• What the hell are you thinking?! 1000%? Right!
• There is going to be a LOP on the dinar.
• How do you know it will happen?!
• What proof do you have?!
• What if this happens?
• What if doesn’t happen by this date?
• What if, what if, what if?
You know what I have to say to these people? Read this and prove to me that it isn’t going to happen! Show me your evidence! Tell me how the 2nd rich’s oil producing nation’s currency is worth .008 cents in stead of $3.00 or more! Tell me why you think it’s going to LOP or not work out! What is that I hear?
Nothing? I hear nothing? "Owe, you say it's still doesn't make sense! Well then......
Explain to me how any economist, news article, politician, or any other person can provide me with any shred of truth and validity that Iraq is not going to revalue their currency, and have an action plan in place by April 1st, 2010.
Tell me how the government of Iraq is going to have to explain to U.S., China, all the companies and nations they doing business with now and in the future, that they need to delay this timeline for an RV, and go against their contract of the UNSC1905 resolution. Explain how Iraq tell them this contract doesn’t mean anything, how it will ruin their integrity with everyone world wide, and delay the world of being debt free and getting out of this economic depression! Well? I'm waiting.....
I mean, how would you approach the IMF, UN, and all these countries and tell them that you are not pulling the trigger just yet? Tell them that the elections are not final?! Tell them you're scared that this will not work out?! The answer is nope, nope, nope, & NO!
Iraq can’t do this, because they know all of this would be economic suicide! It’s as simple as that! Ask yourself these questions? Why would Iraq go through all the hard work and effort with UNSC, IMF, U.S., debt forgiveness of billions, appeal to the IMF and UNSC to have these restrictions lifted and show proof of why these restrictions should be lifted! Why would Iraq be emplimenting anything else but moving forward with their action plan of revaluing their currency and getting on with being one of the wealthiest countries in the world?! Because they are not.
Business after business are literally pounding down their doors begging for oil contracts, infrastructure jobs, entertainment business, housing projects, and anything else they can get their grubby fingers on. The list goes on and on folks! Can you see the big picture yet?! They are going to revalue the Iraqi dinar, and there is nothing or nobody that can stop it. There is not a soul in the world who would want to stop this world stimulous train from coming!
I appreciate all the pessimists and conventional “to good to be true” people, but I have to say, I’m about to laugh my ass all the way to the B A N K! And thank God for letting me apart of this great and wonderful path. I have learned so much about myself, and have been humbled so much in the process. God, I will never doubt you ever again! I love you.
Amen.
References:
1. UNSC Resolution 1483: http://daccess-dds-ny.un.org/doc/UND...df?OpenElement
2. UNSC Resolution 1905: http://www.uncc.ch/resolutio/res1905.pdf
3. Iraq: Staff Report for the 2009 Article IV Consultation and Request for Stand-By
Arrangement: http://www.imf.org/external/pubs/ft/scr/2010/cr1072.pdf
4. IMF’s Article XIV: http://www.imf.org/external/pubs/ft/aa/aa14.htm
Iraqi Finance: International Monetary Fund sought to make Iraq in the ranks of capitalist countries
27/03/2010 12:58
. Sulaimaniya, 27 March (AKnews) - The Undersecretary of the Ministry of Finance of Iraq on Saturday, the International Monetary Fund in return for granting debt to Iraq, pressuring him to be in the ranks of capitalist countries.
". The Prophet told Fadel Kurdistan News (AKnews) announced today that "Iraq and the IMF agree on the granting of loans to Iraq," showing by saying "Some of us did not support the receipt of such loans, because Iraq can meet the shortfall in its budget, but it is clear that there is pressure from the Prime Minister in order of receipt of such loans. "
". He said the Prophet that "the purpose of receipt of such loans is to address the problems of housing, and the establishment of housing units in all regions of Iraq, this was the first reason for the approval to take over the loans."
?". The Undersecretary of the Ministry of Finance of Iraq that "pressure from the International Monetary Fund on Iraq are many, in order to make it in the ranks of the capitalist countries, and this is achieved in stages, not all at once," indicating that "the IMF gave its approval for this."
??". He was a member of the Finance Committee in the Iraqi Council of Representatives, outgoing, Sami Atrushi had said earlier that "the conditions previously imposed by the IMF on Iraq, such as increasing fuel prices, and reduce social customizations, determine the salaries of employees and retirees, the very strict conditions" .
". He added that "of the points that have impacts on the Iraqi economy, and we all afraid of those points, is to pay public administration and health education to the private sector."
1 %. It is noteworthy that the Iraqi Ministry of Finance signed an agreement on 17 March with the ongoing International Monetary Fund to borrow $ 250 million, to cover the shortfall in the Iraqi budget, and pay the loan over 15 years, and the value of interest rate of 1%.
http://www.aknews.com/ar/aknews/2/129044/
IAEA recommends end of Iraqi restrictions
VIENNA, March 26 (UPI) -- The U.N. nuclear watchdog agency recommended Friday to the Security Council that restrictions on Iraqi nuclear research be lifted.
The International Atomic Energy Agency praised Iraqi's cooperation with investigations into its nuclear program, KUNA, the Kuwait News Agency, reported.
"The International Atomic Energy Agency has been receiving excellent cooperation from Iraq in the implementation of its comprehensive safeguards agreement, thus allowing IAEA to effectively and efficiently conduct its safeguards activities," IAEA Chief Yukiya Amano said in a letter to the council.
The Iraqi government supports the Nuclear Non-Proliferation Treaty and other disarmament pacts, Amano said.
Sanctions were imposed on Iraq after Saddam Hussein's invasion of Kuwait in 1990.
http://articlesofinterest-kelley.blogspot.com/2010/03/iaea-recommends-end-of-iraqi.html
Inside Iraq - The media's role in Iraq's election.
"Cork" plans to change the prices Rechargecardnumber from the dollar to the Iraqi dinar
Arbil, March 18 (AKnews) - The company "cork" for mobile phone, on Thursday, the breadth of its services to include all governorates of Iraq, noting that it intends to change the prices Rechargecardnumber from the dollar to the Iraqi dinar.
This came during a meeting with Chairman of the delegation's "cork" Fadel al-Tusi with proof Shawi Executive Director of Communications and Media Commission in Baghdad, according to the reported on its Web site today.
He said al-Tusi's services Co. Cork actually widened to include all the provinces, pointing out that the company "the process of improving its services effectively with the willingness to pay all financial obligations to the Commission".
. He explained that the company is determined "to change the purchase price of Rechargecardnumber from the dollar to the Iraqi dinar, and calculating the cost of calls by seconds at a time approved by the Commission."
For his part, Executive Director of the Commission during the meeting Shawi proof "that Cork is committed to licensing requirements that require the further development of the infrastructure of the technical requirements which the company operates, and expanding its services in all governorates of Iraq."
(AKnews) for me 18/3/2010
http://www.aknews.com/ar/aknews/2/126866/
Japan calls for the winners to accelerate the formation of the government to start its projects in Iraq.
Revealed the Japanese embassy in Baghdad that the Japanese companies waiting for the formation of the new Iraqi government to flow into the country and contribute to the reconstruction of its infrastructure.
He appealed to Charge d'Affaires Takahashi said in a statement blocks winner in the legislative elections to speed up the process of forming the next government.
Hashi said that Iraq has the potential industrial and human resources is very large and he is able to achieve the enormous contribution of the industrial revolution a number of developed countries, including Japan.
In the same context, charge d'affaires said that Japan can contribute by giving soft loans to the next government to promote the rate of electric power and water projects, pointing out that the near future will see the cooperation between the two sides in the oil field and the advancement of technological reality.
http://www.iraqdirectory.com/DisplayNewsAr.aspx?id=11960
March 19, 2010
China could scrap Iraq's $8.5b debt
Baghdad seeks investments from Beijing
Baghdad : China may write off all of Iraq's $8.5 billion (Dh31.2 billion) of debt accrued under the rule of Saddam Hussain, Iraqi finance minister Baqer Al Zubaidi said yesterday.
"The Chinese government expressed readiness to write off $8.5 billion of debts owed by Iraq," Al Zubaidi said in a statement posted on the ministry's website yesterday.
Iraq is keen to see China play even a bigger role in the reconstruction of the war-torn country, the country's top envoy to Beijing told the China Daily in an interview last week.
"After 2003, China has supported us very much and reduced Iraqi debts by 80 per cent, which is greatly appreciated," Iraqi Ambassador to China, Mohammad Sabir Esmail, told the paper, referring to a $6.8-billion debt cut announced by China last month.
Esmail also invited Chinese companies to invest and operate in the country.
"I call on all Chinese companies to come and take up projects in rebuilding Iraq," he told China Daily.
"China has many giant companies qualified to participate in rebuilding Iraq and... our country will remain a big workshop in the next 20 years," he said.
Some Chinese firms, mainly in the energy and retail sectors, are already operating in Iraq.
These companies include oil giants such as PetroChina, Sinochem, CNOOC and Sinopec subsidiary Addax Petroleum.
Deficit plug
Iraq's economy is dominated by the petroleum sector, which has traditionally provided about 95 per cent of foreign exchange earnings, according to US data. Between June 2009 and February 2010 the Iraqi Oil Ministry tendered for the award of service contracts to develop Iraq's existing oil fields.
Contracts for all major fields excluding the Kurdish controlled areas were awarded to major global oil companies such as Shell, Petronas, BP, Total, ENI, Exxon, Gazprom, Lukoil and others. Contracts for the Kurdish areas are currently being disputed by the Baghdad government.
Most of the contracts are awaiting final ratification of the awards by the Iraqi government. Company shares are subject to change as a result of commercial negotiations between parties.
Hydrocarbon industries account for well over 70 per cent of the Iraqi economy and 95 per cent of the government's revenues. Diversification of the economy into non-hydrocarbon industries remains a long-term issue
http://articlesofinterest-kelley.blogspot.com/2010/03/iraq-received-letter-china-agrees-to.html
Trade Bank of Iraq implements real-time banking system
By: Staff Writer
Trade Bank of Iraq (TBI) has implemented Misys Equation, a fully integrated, real-time, multi-currency retail banking solution.
TBI is the first bank in Iraq to have implemented this automated banking system, facilitating TBI transactions across the country and enabling customers of any TBI branch to access real-time information about their account.
Prior to the implementation of Misys Equation, each branch used stand-alone offline systems; daily transactions taking place at branches were consolidated at the end of the day for the generation of consolidated financial positions. With Misys Equation, a central database is maintained where customers of any TBI branch can access their accounts; updates of financial information take place in real-time as soon as the transaction is committed.
Hussein Al-Uzri, Chairman of TBI said, “Equation has automated and streamlined TBI’s business processes and will be the gateway to mobile and internet banking for the bank. This automation reduces manual intervention and human errors, resulting in accurate information and smooth processing of transactions. TBI presently has nine branches throughout the country, set to increase by another five this year, and it is our priority that we provide our customers with first class service.”
Hussain Zainal, Banking Services Manager, Computer Business Machine, Consultant with Misys said, “Trade Bank of Iraq has successfully achieved a challenging project through the implementation of Misys’ robust and comprehensive core system, combined with the industry-leading trade finance application. The new programme will give the Bank direct processing capabilities for transactions and financial messages, compliance with international standards and a modernized branch automation platform.”
http://www.cpifinancial.net/v2/print.aspx?pg=news&aid=4559
Iraq buys ten 787 Dreamliners
* Iraq: Wednesday, March 10 - 2010 at 09:24
Iraq has signed a deal with Boeing to buy 10 787 Dreamliners on behalf of its flag carrier, Iraqi Airways, the National has reported. The contract was reported on Boeing's orders and deliveries website this week, although the deal was apparently concluded on December 22. The aircraft are worth a total of $1.7bn at list prices, but after standard discounts the Iraqi deal is probably worth $1.1bn, the newspaper reported, citing Avitas, a US-based aircraft valuation firm.
http://www.ameinfo.com/226288.html
Iraq vote count too close to call
With early results representing only a fraction of the vote and no figures in from areas like Basra, overall results from Iraq's general elections were too close to call six days after the March 7 vote.
By Saturday, preliminary tallies from 10 of Iraq's 18 provinces were in.
State of Law coalition led by Nouri al-Maliki, Iraq's prime minister, is leading among the three top rivals.
The cross-sectarian, secularist Iraqiya list headed by Iyad Allawi, the former prime minister, is running second, and the Iraqi National Alliance (INA), a rival to al-Maliki among Iraq's Shia majority, is a close third.
The powerful Kurdish parties led as expected in Erbil.
The Independent High Electoral Commission (IHEC) said that just 18 per cent of the votes have been counted in Baghdad so far.
LATEST RESULTS
Iraq election tally so far
Also, as the results are not drawn equally from across the city, the figures are not representative.
Of the votes counted, 75 per cent were from Risafa, which is a predominiately Shia district and 25 per cent comes from Karkh, which is more Sunni and mixed.
more on http://english.aljazeera.net/news/middleeast/2010/03/201031317039231784.html
'Our aim is to establish a forward market in Iraqi dinars in the near future,' say finance officials
Source: BI-ME with Reuters , Author: BI-ME staff
Posted: Fri March 12, 2010 1:59 pm
IRAQ. Iraq plans to establish an interbank foreign exchange market and dinar forward market and to step up its treasury bill activity in 2010 to help plug continuing budget deficits and foster treasury and foreign exchange markets, the Central Bank and Finance Ministry said in a submission to the IMF.
Iraq aims to develop foreign exchange markets outside the framework of dollar auctions currently conducted by the Central Bank, a letter of intent submitted to the IMF for a US$3.6 billion standby arrangement said.
Iraq said it would not return to a budget surplus until 2012.
"As our financing needs in 2010 will still be substantial, we will step up our efforts to mobilize domestic financing through the Treasury bill market," Iraq's Central Bank head and finance minister wrote.
"To that end, we will conduct regular auctions, and refrain from cancellations, while allowing interest rates to be determined by the market. This will have additional benefits by determining a benchmark interest rate, while the development of a secondary market for treasury bills will allow banks to improve their liquidity management."
"They are going to shift to building a local market, they have ample cash, loan-deposit ratios are very low and they will benefit from oil,"Turker Hamzaoglu, emerging market economist at BoA-Merrill Lynch, told Reuters.
more on http://www.bi-me.com/main.php?id=45051&t=1&c=61&cg=4&mset=1011
Iraq election race too tight to call after early count
March 12, 2010 6:29 a.m. EST
Baghdad, Iraq (CNN) -- The first results from Iraq's parliamentary elections were released Thursday, five days after millions of Iraqis went to the polls in defiance of the threat of violence.
Five of Iraq's 18 provinces announced early results, but it may be some time before a clear picture emerges of who will lead Iraq.
The group led by Prime Minister Nuri al-Maliki was in the lead in two provinces, while a coalition led by former interim Prime Minister Ayad Allawi was ahead in two others. Kurdish parties were taking the largest share of the vote in Irbil, the fifth province to release partial results.
http://www.cnn.com/2010/WORLD/meast/03/11/iraq.election.results/index.html?hpt=Sbin
Early Iraq election results put prime minister's group in lead
Baghdad, Iraq (CNN) -- The first results from Iraq's parliamentary elections were released Thursday, five days after millions of Iraqis went to the polls in defiance of the threat of violence.
Two of Iraq's 18 provinces announced early results, which put the group led by Prime Minister Nuri al-Maliki in the lead.
The predominantly Shiite Iraqi National Alliance -- which includes the secular politician Ahmed Chalabi as well as followers of radical cleric Muqtada al-Sadr -- is in second, followed by Al-Iraqia, a secular party led by former interim Prime Minister Ayad Allawi.
But the results are preliminary -- only about a third of the votes in each of the two provinces have been counted, and the other 16 provinces have not announced any results yet.
http://www.cnn.com/2010/WORLD/meast/03/11/iraq.election.results/index.html
Country's Policy Intentions Documents -- Iraq: Letter of Intent, Memorandum of
Economic and Financial Policies, and Technical Memorandum of Understanding,
February 8, 2010
http://www.imf.org/External/NP/LOI/2010/irq/020810.pdf
page 12
26. To improve the functioning of foreign exchange auctions, we plan to develop
organized exchange markets outside the central bank,including an interbank foreign
exchange market. Our aim is to establish a forward market in Iraqi dinars in the near future.