Archive for October 7, 2011

Sat 10/08/2011 7:51

Abbas Ghalibi
The foreign exchange reserves were real supportive and sober for the local currency, where all countries are trying to raise this reserve to cover and be conservative on the currency of the decay in the abyss of the collapse of the exchange rate off the foreign currency.

And sought the Iraqi Central Bank strives to raise the level of foreign exchange reserves during the past seven years closer to the road from the banks of the 70 billion dollars.


Sat 10/08/2011 7:50

The whole number of experts on the urgent need for re-evaluation of the banking system in both its public and private sectors and restructuring, at the time of moving necessary to confirm the independence of the central bank authority cash in the country. He said economic expert Dr Majid picture: There are two main axes in the restructuring of the banks first,

Restructuring of the Rafidain and Rashid, at the same time restructuring the supervisory body in the central bank carries out supervision on the work of banks, while the second axis is the issue the instructions required for the development of banking business. He added that the recommendations of the Basel Committee on banking sector committed by the Iraqi Central Bank through the issuance of regulations, which included government and private banks alike, but the unfortunate thing is that these regulations delayed issuance of the years 2008 to 2011, which includes consulting and other procedures that have been published in the Official Gazette.


Iraqi candidates to take over the 5 characters instead of the Policy Board for Allawi
07/10/2011 PM – 3:36 PM | Hits: 266

Revealed an MP for the Iraqi List and the unit Jumaili, Friday, for the presence of five figures from the Iraqi List, will be announced, one of them to assume the presidency of the Council policies after abandoning Allawi for his presidency.

(more…) – Vietnam will aim to keep the exchange rate stable until the end of the year, allowing it to move within a 1 percent band, the central bank said.

Recent fluctuation of global gold prices, a traditionally strong gold purchase by residents in the last months of the year and domestic gold speculation have added pressure on the foreign exchange market and exchange rate, the central bank said in a statement released late on Wednesday..

“The State Bank and commercial banks will continue selling foreign currencies for market intervention, meeting fully the economy’s necessary demand for foreign exchange,” it said.


Kurdistan Alliance announced its adherence to the formation of the policies, even after the withdrawal of Iyad Allawi of the pursuit of his presidency, he and the words of spokesperson that the grounds are formed and the need for it is still

He said the Kurdistan Alliance will go to try and finish it because the composition has been formed according to the agreement of Arbil.


07/10/2011 14:32

Baghdad, October 7 / October (Rn) – stressed the Iraqi ambassador to Kuwait on Friday that his country’s relations were not affected by trade with the southern neighbor Kuwait as a result of a controversial port plans to build in the recent Persian Gulf.

Said Mohammed Hussein Bahr al-Ulum, told the Kurdish news agency (Rn) that “the trade relations between Iraq and Kuwait would not be affected at all due to the issue of the Kuwaiti port of Mubarak.”


Chaired by Deputy Prime Minister Acanutorroژ Nuri Shaways meeting of the Ministerial Committee on the Status of a mechanism to ensure the protection of Iraq’s money XVII in the presence of the ministers of foreign affairs, finance, justice and Oris Audit Court and the Governor of the Central Bank and the Legal Adviser to the Prime Minister and Adviser to the Deputy Prime Minister and the Commission examined the issue of the disappearance of $ 17 billion of Iraqi funds, and release amounts of the Oil for Food contracts that meet the legal requirements and benefits and the issue of payment in kind for oil contracts.

The meeting was hosted by Ms. Ginger Cruz, deputy inspector general for the U.S. reconstruction in Iraq during the discussion to the issue of the disappearance of $ 17 billion, which was outlined to the Commission information available to the Office of Inspector General, U.S. on this thread.

The meeting approved the recommendations and the following decisions:
Form a special committee of representatives from the Ministry of Finance and Audit Court and the Central Bank to follow up the subject of the disappearance of Iraqi funds and to report periodically to the monthly Committee to Protect Iraq’s money on the subject.

Collect all information, books, documents, and documents related to payments, regardless of irrelevant by the Ministry of Foreign Affairs and Ministry of Finance and the Financial Inspection Office and the Central Bank of Iraq.

Committee’s approval of the proposed mechanism by the central bank to settle the rate of compensation of $ (5%) in respect of payment in kind for the oil companies and compensation Kuwait.

Economic expert said on Friday that the transition from centralized economy to a market economy can not be achieved without new legislation in conformity with the freedom of the economy, indicating that the global economic recession will affect the decline in oil prices, which are central in the revenue column of the Iraqi budget.

The economist said on behalf of Jamil Antoine’s “Twilight News” that “the House of Representatives legislation of new laws compatible with the transition from centralized economy to a market economy,” explaining that “no economy can work free without legislation compatible with the freedom of the economy.”


AGHDAD / Aswat al-Iraq: The Iraqi annual budget will be reviewed due to differences on oil prices, a member of the Parliamentary Financial Commission said today.

MP Haitham al-Jubori added that the differences center around the expected price of 85 dollars per barrel, pointing out that the government wanted to set the price at 80 dollars per barrel.


07/10/2011 11:16

Arbil, October 7 (Rn) – An Iraqi President Iyad Allawi’s bloc, said that the election came with us first, but the blockages in the way of the formation of the Iraqi government has become clear through concerted political wills of internal, regional and international information.

He said Allawi, in a press statement distributed by the Iraqi List, on the media “gave away our rights in the formation of the government down when the interest of the country that were not to lose sight in the darkest conditions, compared to agree on a genuine partnership in the management of the state and on top of that political decision-making and strategic, which was concluded on the table of Kurdistan leader Massoud Barzani. ”


07/10/2011 12:13

Erbil, October 7 / October (Rn) – The Iraqi Deputy Prime Minister for Economic Affairs, that the Iraqi government approved the formation of a special committee to follow up the disappearance of $ 17 billion from the fund for the reconstruction of Iraq, which was overseen by the Coalition Provisional Authority headed by Paul Bremer, said in a statement Office Shaways.

According to the statement received by the Kurdish news agency (Rn) a copy of it, that “the Special Committee to establish a mechanism to ensure the protection of Iraqi funds studied the disappearance of $ 17 billion of Iraqi funds,” adding that “the Commission hosted a meeting of the Deputy Inspector General of American Affairs, re- Ginger Cruz, the reconstruction of Iraq. ”


The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Maliki Pulls It Off Again: The State of Law Minority-Government Strategy Is Working

What is nominally the second partnership-government of Nuri al-Maliki can increasingly be described as a minority government of his own Shiite Islamist State of Law bloc relying on ad hoc support from other players including the Kurds, Sadrists and White Iraqiyya. The outcome of tonight’s high-level meeting of political leaders in Baghdad suggests that Maliki’s apparent strategy of proceeding with the slimmest possible parliamentary support base could in fact be working.


Baghdad (news) .. Said the leadership in a block of dialogue and MP / coalition in Iraq / Raad Dahlaki, said the list would not give for the National Council of the Supreme policies, it also prompted the adoption of legality, regardless of a person to serve.

The head of the Iraqi List, Iyad Allawi, has said giving up the presidency of the Council , saying: I declare that I refuse to be at the head of the Policy Board or a member, although the Council is of the elections and the approval was based on political consensus.


Justified the Iraqi List MP Ahmed Jubouri concession President Iyad Allawi’s list for the presidency of the National Council for the strategic policy that came to make way for the political blocs to put things in perspective and the adoption of the Constitution in all cases.

Jubouri said: “Although the Policy Board was in accordance with the agreement of Arbil, which was formed under which the government, but some officials Disclaimer him and calling non-constitutional and this is why Allawi waived.”