Posts Tagged ‘iraqi’

Iraqi private bankers hold Ministry of Finance, CBI responsible for IQD decline; Banks and citizens threaten protests

Posted: May 17, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-17 at 9.58.05 AMEditor: BK, BS 15.5.2013 17:56

Download bankers and economies, on Wednesday, the Ministry of Finance and Central Bank of Iraq responsible for the decline and the reality of private banks, local, while accusing the latter encouragement of Arab Banks and Iran at the expense of Iraq, and threatened to organize a sit-If you do not amend the laws to their work, he saw an economic analyst, that “the current circumstances do not allowed to go towards investment banks because the banking culture “is still lacking.” (more…)

Iraq takes step to make country lucrative to outside investment; Bill omitting taxes and fees up for approval in the house

Posted: May 16, 2013 in Iraqi Dinar/Politics
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Inside of the Baghdad Convention Center, where...

05/16/2013 12:09
The Iraqi government said it had agreed on the draft exemption Iraq and foreign companies implementing investment projects from taxes and fees to encourage the movement of investment in the country.

The Iraqi environment is attractive to investors and capital owners wary of entering the market, despite the availability of opportunities Iraqi result of tensions security and poor services as well as the bureaucracy. (more…)

International companies intensify its activities within the Iraqi market

Posted: May 16, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-05-16 at 1.41.50 PM05/16/2013 06:50
Confirmed Ford and Lincoln that the Iraqi market has achieved higher growth rate in sales of Ford during the first quarter of this year by nearly 200 percent with the high demand for cars Taurus, Edge and Explorer and Expedition. Said Larry Bryan, Executive Director, Ford Middle East,

said: “There is no doubt that the sales for this year has seen the start of an extraordinary and powerful; The results we have achieved so far point to the success of the strategy Ford in Iraq and the countries of the region, which leads us to expand our business in these areas and one One Ford in achieving our goals., and we will continue to focus on business development in cooperation with our dealers, and strive to create models of high-quality sought by customers quotation Ford, Lincoln, includes creations and unique technologies add to the value (more…)

Editorial: The value of the Iraqi currency and structural economic imbalances

Posted: May 14, 2013 in Iraqi Dinar/Politics
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D. Kamal Al-Basri and harmful Sbahi professor

Iraqi Institute for Economic Reform

Article seeks to examine the value of the Iraqi currency fluctuations and interpretation of structural imbalances and weak governance vocabulary application and other behavioral factors. And concludes that the following factors may have led to increased demand for foreign currencies and shortage of supply: External political, and weak business environment, the economic and fiscal policy, and the lack of political and economic stability, and the weakness of the productive capacity of local, and that the improvement in the rate of per capita income of Iraq was a factor is the other, weak governance and the rule of law, and the decline of family remittances from abroad, and the growing presence of financial transfer companies and brokerage firms (parallel market), and the emergence of trade zones in border ports. (more…)

Economic Committee Member: high exchange rates of the dollar against the dinar currency behind the drain

Posted: May 14, 2013 in Iraqi Dinar/Politics
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12:10 05/14/2013attributed member of the parliamentary Finance Committee Haitham Jubouri reasons for the high exchange rates of the dollar against the Iraqi dinar currency to the drain by some private banks, which owns companies for the currency converter.

Jubouri said in a press statement that “price-fixing remittances equivalent to two to three times the real price example, if the price of Item five $ 5 it up in the hawala to $ 20 sold amount of the surplus is $ 15 to the black market and that is what is reflected on the currency dramatically” . (more…)

Iraq economic committee criticized the delay in the Investment Law; Calls for speeding up this legislation

Posted: May 11, 2013 in Iraqi Dinar/Politics
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Economic parliamentary calls to speed up amending the investment law and prepared a reason for “increased unemployment and poverty”
SATURDAY, MAY 11 / MAY 2013 13:46

Commission criticized the parliamentary economy and investment, Saturday, delayed modify the Iraqi investment law, and promised to “hang” for investment operations and “reason” to increase rates “of unemployment and poverty” in the country. (more…)

Iraqi economist says independent CBI is required and desirable; Need to mesh with role of GOI

Posted: May 11, 2013 in Iraqi Dinar/Politics
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The independence of the Central Bank

11/05/2013 12:00 AM

Economist reported that the independence of the Central Bank is required and desirable, provided that meshes with the role of government supervision. (more…)

Iraq’s remaining compensation to Kuwait totals $11.2 billion; Full payoff expected by 2015

Posted: May 8, 2013 in Iraqi Dinar/Politics
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Kuwaiti official: Sntoa file compensation Iraqi end of 2015

08.05.2013

announced parliamentary Kuwait that his country will receive the last batch scheduled her compensation owed ​​by Iraq no later than 2015.

said Kuwaiti MP Adnan Abdul Samad said his country will take over the rest of the compensation of the Iraqi invasion $ 41 billion until 2015, noting that the United Nations total approved compensation owed ​​to Kuwait from Iraq worth $ 41 billion, and the recipient’s total so far of 29 billion U.S. dollars and the remainder of which 11.209 billion U.S. dollars. (more…)

“Iraq suffers from absence of national unity”, says Samarrai

Posted: May 5, 2013 in Iraqi Dinar/Politics
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Sunday, 05 May 2013 11:56 | | |

Baghdad (AIN) –The Secretary General of the Iraqi Islamic Party, Ayad al-Samarrai, pointed out that “Iraq suffers from the absence of the Uniting Iraqi Identity since a minority has believed in this aspect but many have rejected it.”

Samarrai called in an article received by AIN the Iraqi educated people to “Take their role in building the national identity on sound bases.” (more…)

Divergence of views on the project to delete the zeros; Banker: any disregard for the challenges of the project will fail and cause big losses

Posted: April 29, 2013 in Iraqi Dinar/Politics
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29/04/2013 12:53 AM

central problems and the fluctuation of currency exchange rates and efforts to raise the value of the Iraqi dinar stand again placed the deletion of zeros from the Iraqi dinar and characterized by differing views around between the Finance Committee representative on the one hand and the Central Bank on the other, the former demanding the implementation of the project in the second calls for lingered despite the fact that the previous administration have been enthusiastic for this project. (more…)

Varied opinions and different views: Politicians: the project to delete the zeros «important; Economists: unimportant

Posted: April 28, 2013 in Iraqi Dinar/Politics
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04/27/2013 09:04

Iraqi observer – specialThe project to delete the zeros before long and is applicable of the important projects that work to reduce the volume of currency large circulating in Iraq and that اتخلو of risk in the event did not take a deliberate plan by the central bank

to Ihlolh without impact on the consequences of money laundering and fraud, has stressed member Economic Commission Abdulabas Xiaa the importance of the formation of committees control of all state institutions to pursue the process of destroying the old currency in the implementation of the project to delete the three zeroes from the national currency, (more…)

Specialists suggest the adoption of a law regulating the currency conversion

Posted: April 28, 2013 in Iraqi Dinar/Politics
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witnessing the Iraqi market volatility evident in the exchange rate of the dollar against the Iraqi dinar is to climb in favor of the dollar as the price ranges cashed between 127-128 dinars. comes this volatility, despite the many actions taken by the central bank in

order to exchange rate stability by expanding distribution outlets and the inclusion of all citizens in the dollar to get through a specific mechanism.

Some economists attribute the cause to the absence of a law regulating the process of converting foreign currencies, allowing the creation of this gap in supply and demand. (more…)

Economist: political problems caused large losses for the Iraqi economy

Posted: April 28, 2013 in Iraqi Dinar/Politics
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28-04-2013 07:36 AM

Baghdad (newsletter). Warned Economist Abdul Sattar Al-Hashemi, of wheel stops the economy as a result of the continuing political problems and popular demonstrations of some provinces, because they were great economic losses to the country.

He said al-Hashimi (News Agency): that political differences among the parliamentary blocs and sit-ins for some provinces directly affected the economy and the advent of global investment firms. (more…)

Dollar rises to 1280; Currency traders criticize the policy of the Central Bank

Posted: April 26, 2013 in Iraqi Dinar/Politics
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26-04-2013

The price of U.S. dollar in the domestic market rose sharply during the past few days, if the price of one dollar towards the 1280 Iraqi dinars, after it had been during the past month varies in the range of 1200.

Traders said foreign currency in Baghdad, in conversations with “Alsumaria News”, the exchange rate of the U.S. dollar, has been a remarkable rise since the beginning of this month, but this increase reached its peak on Wednesday, after he scored the exchange rate of one U.S. dollar 1285 dinars.

Neighboring countries and internal reasons behind the rise of the dollar in the markets (more…)

Economist agree dropping zeros from IQD is important but say doing it this year may be too soon

Posted: April 22, 2013 in Iraqi Dinar/Politics
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04/21/2013 (23:01 pm)
Delete the zeros .. Vital project collides with the lack of economic stability

Agree most specialists regard the financial and banking on that to delete the three zeroes from the local currency is very important, but that perform this operation at the present time is a decision is correct may lead to negative results.

said an official at the Ministry of Finance Hilal Taan that “the deletion of zeros from currency at the present time will bring negative results, the proportion of economic conditions and financial unstable in the country. ” (more…)

Iraq should not be to take advantage of its money, says Global Center for Development Studies

Posted: April 21, 2013 in Iraqi Dinar/Politics
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Iraqi Al-Mustaqbal – 04/16/2013

Future of Iraq confirmed Global Center for Development Studies in London in a report issued by that Iraq is unable to take advantage of his money; because it does not have the budget for this year in the amount of about 119 billion U.S. dollars except what converts revenue from the sale of oil to the so-called “Development Fund for Iraq “of the International Monetary Fund. (more…)

Economic Committee Member calls for attracting migrant domestic capital investment within the country

Posted: April 21, 2013 in Iraqi Dinar/Politics
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10:58 04/21/2013

Agencies – called a member of the Committee on the economy and investment MP for the coalition in Iraq Qusay F, the need to grant privileges for high local and investor preference for foreign encouraged to invest in the country.

Gomaa said in a press statement that “the Iraqi investors preferred to invest outside the country despite the availability of economic fundamentals within the country, but due to some constraints that displays his work in Iraq make it migrates to other countries and invest significant funds. (more…)

Iyad Allawi calls for the formation of a new government within 45 days

Posted: April 21, 2013 in Iraqi Dinar/Politics
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Sunday, 21 April / May 2013 10:27
Existing Iraqi President Iyad Allawi, on Sunday, to form a new government within 45 days of the results of the provincial elections, called for “building” institutions at the level of “sweeteners” after “failed” in the political process to achieve the level of the country.

Allawi said in an interview, followed the “Twilight News”, “We hope that the result in the election of building civil societies in all provinces until the institution-building at the national level and call for the formation of a new government within 45 days,” noting, “We want to build the institutions at the level of sweeteners after the political process has failed to achieve the level of country, Fbernamjna the calls for a restructuring of the institutions of water, environment and planning, security and safety. ” (more…)

Committee members differ on dropping zeros from IQD; Khalil notes by dropping zeros, IQD will be equal to USD

Posted: April 18, 2013 in Iraqi Dinar/Politics
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Screen Shot 2012-09-23 at 9.42.59 AMEconomic Parliamentary: Delete the three zeroes from the currency will not see the light after the dismissal of Shabibi
WEDNESDAY, 17 APRIL / MAY 2013 16:50

ruled out the decision of the Economic Committee in the House of Representatives Mahma Khalil, Wednesday, that is to delete the three zeroes from the currency of Iraq over the next year, returned to the changes, which affected the CBI may prevent the process of restructuring the national currency, as well as having a previous request to the government to wait In the beginning the currency exchange procedures. (more…)

Economist says monetary policies need to improve prior to dropping zeros from IQD

Posted: April 18, 2013 in Iraqi Dinar/Politics
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Economic expert: getting lost in the monetary policy makes the deletion of zeros is not successful project
Published in: 11:55 am, April 18, 2013 Editor: ipa 2

BAGHDAD (Iba) … said, an expert in economic affairs peace Sumaisem, to begin procedures to delete the zeros from the Iraqi currency in the light of the confusion in the monetary policy and the instability of the dinar and improve Sarsrv of them unsuccessful procedures. (more…)

Investment Committee Member: CBI establish procedures to prevent fraud at the changeover after deleting three zeros from currency

Posted: April 17, 2013 in Iraqi Dinar/Politics
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Detection of economy and Investment Committee member MP//-abbasn sheyaa, the date of implementation of the project to delete the three zeros from the currency early this year (2014), stressing that the Central Bank measures to limit fraud and manipulation that may accompany the Exchange process. (more…)

Three zeros to be cancelled from Iraqi currency, says MP

Posted: April 17, 2013 in Iraqi Dinar/Politics
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1 USD = 1163.00 IQD

16 Apr 2013
Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the Central Bank of Iraq is taking all necessary steps to convert this plan into reality. (more…)

MP Faizullah: Continuing problems with the CBI can affect the stability of the Iraqi dinar exchange rate

Posted: April 17, 2013 in Iraqi Dinar/Politics
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17-04-2013 11:30 AM

Baghdad (newsletter). The Deputy Chairman of the Finance Committee MP/Kurdistan blocs Coalition/Ahmed Hassan Faizullah, continuing problems within the Central Bank and accusations on his work because it will affect the stability of the Iraqi dinar exchange rate.

He said Faizullah (News Agency): the Central Bank is a large financial institution job maintaining currency stability and the monitoring of financial and banking transactions, target will reduce international banks before, lose confidence, and thus will affect the stability of the Iraqi dinar. (more…)

CBI subtracting zeros from the local currency (2 articles)

Posted: April 14, 2013 in Iraqi Dinar/Politics
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14/4/2013 11:45:00

Deleting three zeros from the local currency

Said parliamentary Finance Committee, the central bank, according to correspondences official start of this year procedures deleting three zeros from the local currency, saying that it would lead to the development of cash transactions and international economic.

A member of the Finance Committee Abdul Hussein al-Yasiri Center Brief for the Iraqi Media Network, said, “according to Almkhtabat official with the central bank, it is supposed to start this year Balastaadadt necessary to delete three zeros from the local currency. ” (more…)

Mutlaq: Finance Committee discussed proposals that will create balance between USD and IQD

Posted: April 11, 2013 in Iraqi Dinar/Politics
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Published in: 11:48 am, April 11, 2013 by ipa 2

BAGHDAD (Iba) .. A member of the parliamentary Finance Committee Ibrahim al-Mutlaq, the committee discussed several proposals to create a balance between the U.S. dollar exchange rate and the exchange rate of the Iraqi dinar, adding that proposals relating to tax Emark and civil and open banks in all provinces. (more…)

Iraq’s economy after the invasion

Posted: April 11, 2013 in Iraqi Dinar/Politics
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Economy

11-04-2013 12:53 PM

Iraq’s economy is still ten years after the invasion which suffers legacy of the war and its aftermath of the repercussions have affected the lives of millions of Iraqis .. However it is hoped that Iraq can overcome those difficulties depending on its oil wealth. (more…)

GOI agrees to compensate the victims of the demarcation of the border with Kuwait 240 million dinars

Posted: April 7, 2013 in Iraqi Dinar/Politics
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Editor: HH 4.7.2013 16:11

The Iraqi cabinet approved on Sunday, to compensate the victims of RAR demarcation of the border with Kuwait in the province of Basra 240 million Iraqi dinars, the disposal of the emergency budget for the current year 2013.

A statement issued by the Council of Ministers and received (range Press), a copy of which, “The Council of Ministers decided during its meeting of 13 normal, which was held today, Prime Minister Nuri Kamal al-Maliki to approve the compensation citizens border area in Basra who expropriated their homes, the amount of $ (240) million from the emergency budget for the year 2013. ” (more…)

Specialists: counterfeit appearx in the market and to the security control

Posted: April 7, 2013 in Iraqi Dinar/Politics
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It seems that the counterfeiting of currency is a lucrative business with the outlaws, which appear from time to time cases of counterfeiting Iraqi currency with five groups of thousands and ten thousand dinars.

The number of citizens complained in the governorates of Baghdad and Dhi Qar and Babil and Salaheddin the spread of counterfeit currency and dramatically in the market, pushing them to resort to buying dollars to keep their money. (more…)

MP blames poor monetary policy and political problems for low IQD exchange rate

Posted: April 3, 2013 in Iraqi Dinar/Politics
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Baghdad (newsletter). Returned MP for the Iraqi coalition//qais alshazar, causes of low exchange rate of the Iraqi dinar against the US dollar to the country’s political problems, and the lack of control over the sale and purchase of foreign exchange.

Said alshazar (News Agency): the weakness of monetary policy by the Central Bank, which led to the lack of real control on the sale of hard currency and how to disburse and volume in the market caused by the depreciation of the dinar against the dollar. (more…)

Economist: The increase of currency exchange outlets at banks will support the exchange rate of the dinar against the dollar

Posted: April 3, 2013 in Iraqi Dinar/Politics
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01-04-2013 11:29 AM

Baghdad (news) .. According to economist Ismail Radi, that increase ports open for the sale of hard currency by the banks will decrease U.S. dollar against the Iraqi dinar, because it will meet the market needs of the dollar.

Radi said (of the Agency news): The reason for increasing exchange rate U.S. dollar against Iraqi dinar during the current period in the domestic market, due to the measures the central bank Tough to sell hard currency and to the lack of dollar in the market. (more…)

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