The Minister of Finance, the Iraqi Rafie al-Issawi, said the Iraqi government funds abroad vulnerable to claims by creditors unless extended protection to these funds by the U.S. government. (more…)
Posts Tagged ‘Funds’
Minister of Finance: The Iraqi government funds abroad vulnerable to claims by creditors
Posted: May 20, 2012 in Iraqi Dinar/PoliticsTags: Central Bank Iraq, Federal government of the United States, Funds, Iraq, Iraqi government, Politics of Iraq, President of the United States, U.S. government
Alwani: Recovery Act funds will be put corruption in parliament, to recover all money diverted
Posted: December 19, 2011 in Iraqi Dinar/PoliticsTags: al-Alwani, Alwani, Funds, House of Representatives, Integrity Committee, Interpol, Iraq, Political corruption
The independent Iraqi news agency: According to a member of the Integrity Committee that the parliamentary Khalid al-Alwani
Officials and political figures have escaped many of the funds out of Iraq immediately after the issuance of arrest warrants against them or having information about the questioning on charges of financial and administrative corruption, adding that some former officials were able to avoid demands for the money stolen because they have dual Mzodugtin.
He said al-Alwani said in a statement today, he cited, correspondent of “The Iraqi news agency Independent” that the draft law to recover the proceeds of corruption from the corrupt will affects spoilers abroad, although it clashes with those who have dual citizenship, stressing that the coming days will see a display of law within the House of Representatives and a vote, and work on recovery of funds. (more…)
CBI: We are not responsible for the loss of $17 billion, and our mandate formal Iraqi Development Fund
Posted: October 26, 2011 in Iraqi Dinar/PoliticsTags: bremer, CBI, DFI, Dinar, Funds, Iraq
Alsumaria News / Baghdad denied the Iraqi Central Bank, on Wednesday, claimed responsibility for the loss of the $ 17 billion from the Development Fund of Iraq, which was created after the war in 2003, stressing that the Bank’s mandate in the management of the Fund was a formality in the era of U.S. civil administrator Bremer.
The deputy governor of the Bank CBI appearance of Mohammed Saleh in an interview for “Alsumaria News”, “Development Fund for Iraq, which opened on behalf of the Central Bank of Iraq and let the Reserve Bank of American, not the central bank responsible for the administration, but the power to dispose of withdrawals and deposit and orders of exchange were the responsibility of the Governor L. Paul Bremer, “noting that” the Bank had the powers of formal and not real in the management of the Fund until the receipt of Iraqi sovereignty on 28 June 2004. ” (more…)
Parliamentary Finance Committee: Network of lawyers will recover funds of the former regime
Posted: October 26, 2011 in Iraqi Dinar/PoliticsTags: bank, Dinar, economy, Funds, Iraq, Money
26/10/2011 19:42
Baghdad / Orr News
Confirmed the Finance Committee in the House it will recoup money from Iraq to neighboring countries as well as those smuggled in international banks, through a plan drawn up for this purpose in coordination with the Ministry of Finance.
A member of the Committee Najiba Najib said “the Committee will be hosting during the legislative term next year, Director of Cabinet in the Ministry of Finance in order to identify the necessary information in this regard.” (more…)
New ways of development funds and financial institutions
Posted: May 18, 2011 in Iraqi Dinar/PoliticsTags: Baghdad, Committee, Finance, Funds, Government, Iraq, Law, Private sector
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May 18 2011
Baghdad-morning
Search Panel with representatives of six ministries and experts and advisers in the ways of organizing new laws consistent with the philosophy of Government in development funds and financial institutions.
And THAMER ghadhban told Chairman who chaired the meeting in a statement quoted by a National Centre for information: Iraq in transition, the political vision of the Government is moving toward a market economy, and activate the private sector, stressing the need for new laws consistent with the philosophy and vision of the Government at this stage.
Finance launched the first batch of allocations of developing regions and is preparing to launch the second
Posted: March 13, 2011 in Iraqi Dinar/PoliticsTags: Baghdad, Council of Representatives of Iraq, Finance, Funds, Government, Iraq, Ministries, Politics of Iraq
Ministry of Finance announced its readiness to launch the rest of the regional development funds for each province completed a large proportion of projects included in the plan.
An official source at the ministry in a statement this morning that the Finance recently launched 30% of the allocations of development of the regions allocated for each province in order not to delay the projects included in the plan and be able to accomplish what is currently done as soon as possible.
Traders turn to currencies for hedging defences against Black Swan risks
Posted: March 7, 2011 in Iraqi Dinar/PoliticsTags: Allianz, Business, Funds, Hedge fund, investing, Investment management, Investor, new york city
ORE than two years after the financial crisis shattered investors’ faith in markets, some high-profile investors are using low-cost currency trades rather than traditional hedging tools to protect their portfolios from the epic losses that can arise during extreme and rare “Black Swan” events.
Platinum Grove Asset Management, a $US300 million hedge fund, is using a currency options-trading strategy to help revive its fortunes after suffering spectacularly during the crisis. Other hedge funds, sovereign-wealth funds and money managers around the globe, including Allianz unit Pacific Investment Management Co, the world’s largest bond-fund manager, are also using foreign-exchange trades to help protect investments in other areas such as stocks and bonds, several bankers and investors said.
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