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  • harry's Avatar
    Today, 09:39 AM
    Baghdad begin imposing taxes on cigarettes and alcohol, cars, mobile and Inter Net Posted 27/02/2015 09:14 AM Finance Minister Hoshyar Zebari, from start to impose taxes approved by the Council of Ministers in the budget of 2015, pointing out that the ministry has issued instructions to impose taxes on cigarettes and alcohol and import cars and Kartat mobile and online. Zebari said during a press conference: "The issue instructions for the implementation of the provisions in the budget items concerning tax and sales tax and mobilize the mobile phone and import cars and Internet companies and cigarettes and alcoholic beverages." In another context, called Zebari self-financing companies to review the banks to take over their employees' salaries. And ensure that the financial budget law for 2015 in Article 33 to impose sales tax on Kartat mobilize mobile phone networks and the Internet by 20% of the value of the card and 15% on the purchase of cars of all kinds and tickets and 300% on cigarettes and alcoholic beverages. http://www.altahreernews.com/inp/view.asp?ID=25902
    0 replies | 8 view(s)
  • harry's Avatar
    Today, 09:05 AM
    Iraq pulls smaller paper currency from circulation Thu, February 26, 2015 16:12 Twilight News / Iraqi Central Bank announced on Thursday, about 50 dinars withdraw currency from circulation category due to the low value and stop the audience from the circulation. The category of 50 dinars are smaller process paper of paper within the categories that also include 250 dinars and 500 dinars and a thousand dinars and 5 thousand dinars and 10 thousand dinars and 25 thousand dinars. Iraq issued a new currency in 2003 in the wake of dropping the former regime. The bank said in a statement reported for "Twilight News" that "Due to stop the public from trading cash paper category 50 dinars, he decided to withdraw this banknote from trading on the basis of the powers vested in Article 36 of the Bank Act No. 56 of 2004". "The banks and their branches will start replacing these banknotes presented to it and without fee or commission," noting that "banks will be deposited at the bank and its branches for the purpose of being the equivalent value in the accounts we have." Bank pointed out that "the term that will replace these banknotes will begin on the first of March to 30 of April next," stressing that "as soon as the end of the period for the replacement of the banknote will be null and void and will not be accepted in Iraq." http://www.shafaaq.com/sh2/index.php/news/economy-news/91875-2015-02-26-13-15-35.html
    24 replies | 958 view(s)
  • harry's Avatar
    Today, 09:01 AM
    Kurdistan: Kurdish ministerial committee in Baghdad address any disagreement oil agreement Friday February 27, 2015 08:55 Twilight News / said the Kurdistan Alliance bloc member, on Friday, the committee formed by the province, which includes the Kurdish ministers in the federal government will address any defect in the application gets the oil agreement with Baghdad. Said Najiba Najib, in an interview with "Twilight News", "The Kurdistan Region is committed to applying the oil agreement with the federal government items and there is no tendency to breach the terms of the agreement, did not issue any position from the region indicate that he may abandon the oil agreement." Najib added that "the oil agreement in the interest of the province and the federal government," pointing out that "the region's commitment to the agreement prompted him to form a committee of ministers of the Kurds in the federal government that would follow up and develop treatments for any controversial points stand out in the application of the oil agreement." The agreement, which issued by the Iraqi Council of Ministers on the second of December last that the Kurdistan Region to deliver at least 250 thousand barrels of oil a day to the federal government for the purpose of export, the export of 300 thousand barrels per day by the federal government of the province of Kirkuk fields through the pipeline oil in Kurdistan http://www.shafaaq.com/sh2/index.php/news/kurdistan-news/91896-2015-02-27-06-11-32.html
    0 replies | 14 view(s)
  • harry's Avatar
    Today, 08:56 AM
    Washington is a global force of 30 000 troops to fight "Daash" Priya Agency eighth day February 27, 2015, 12:57 ((Eighth day)) Likely sources in Washington, the formation of 30 thousand soldiers of an international force, the ground offensive to expel the organization "Daash" of Iraq's western and northern and eastern Syria and northern regions. The sources said, "The force would consist of a Saudi and Jordanian, Egyptian and Iraqi Turkish and Arab forces, with the participation of European, Canadian, Australian and American, which prompted Republican Sen. Marco Rubio to question the US presidential envoy Gen. John Allen about this process during a hearing in the Foreign Relations Committee of the Senate , individual Allen: "Senator Rubio, I prefer to go into this part of the discussion in closed session." The Allen had opened the meeting, the day before yesterday, to make the testimony in which he said he had just returned from Kuwait, where he held with the Minister of Defense Ashton Carter and 30 US official diplomatically and militarily diverse meetings (at Camp Arifjan) on topics related to "a strategy to address the Daash and the progress that has been achieved so history. " The American General, which coordinates with the military leadership of the international coalition, said that the situation in Iraq is still "very complicated" and that "the road ahead is full of challenges and will not be a straight line. " But given the "where we were eight months ago only, we can see the results achieved by the first phase of our strategy." He explained Allen said last June, promised to "Daash" completes its progress towards Baghdad and Karbala, here he is today lost most of the territory seized by the then like Mosul Dam, and crossing Rabia border, and Mount Chenkal, and Zammar, and the intersection of Kisak who cut Daash supply line from Syria to Mosul. The US official added that last week launched a "Daash" an attack on the town of al-Baghdadi, near the Lion Air Force Base, "where our troops with the Danes and Australians to help train Iraqi soldiers and volunteers from the tribes." He continued: "All Americans will be proud when they see what he did to our soldiers there, helping the Iraqis and the tribes to join the battle against Daash, and these are just the beginning." US General stressed that his country is seeking to secure the funds needed to address the humanitarian crisis for Syrian refugees and Iraqis. He said that the effort another focused on broadcast anti message to message " Daash, "adding:" As the President announced (Obama) Finally, we entered into a partnership with the United Arab Emirates to establish a center of broadcast messages addressed to attack Daash fierce in the information battle field ". http://8th-day.com/?p=97845
    0 replies | 14 view(s)
  • harry's Avatar
    Today, 08:41 AM
    tool monetary policy Press release Issued by The Central Bank of Iraq PDF created with pdfFactory Pro trial version www.pdffactory.com 2 Summary of the Central Bank of Iraq policy tools ************************************ The Board of Directors of the Central Bank of Iraq at the meeting held in the sixth Of August new regulations for the legal reserve requirements and banking facilities Attached herewith, this statement reviews the General attributes of the new regulations and explain the reasons for the adoption For the purpose of strengthening the management of the monetary policy of the Central Bank of Iraq and to support the new programme Sponsored by the Ministry of finance to issue securities. The Central Bank will issue preliminary instructions to implement the terms of the new regulations, Changes were made to the regulations of the Central Bank and banking operations to control Better on the money supply and the time given high confidence for banks with regard to the choices And mandatory requirements for liquidity management in their banks and is expected to play the stock market The Government had a positive role in liquidity management banking in accordance with new regulations, on the other hand Banks are expected to strengthen financial position liquidity requirements management with short deadlines Term (or more generally the market) where recourse to banks Bank The Central as a last resort. In order to clarify that the Central Bank will hold several meetings with banks The near future to discuss the proposed regulations. The Ministry of finance by a change in the way the financing shortfall in revenues due to restrictions New legal restrictions on borrowing from the Central Bank's willingness to A development of an active market for government securities, according to the requirements of the law of public debt The newly adopted, will pay all the debt in cash, services and this is akiam Government securities With its benefits and are due on the first of July and October for fraudulent use, and leaves Government-owned Central Bank of Iraq, will be treated in accordance with the agreement between the Ministry of finance And the Central Bank of Iraq for the restructuring of the Iraqi Central Bank claims on the Government, The Ministry of Finance began to issue new securities to finance those dues were sold The new issuance of securities in the secondary market. The CBI reaffirmed the formulation of banking relationship with banks to develop the market Depends on new monetary policy tools to facilitate the development of new stock The Ministry of finance no longer requires banks provided the possession of securities equivalent to 10% of all deposits (including now in reserve requirements). PDF created with pdfFactory Pro trial version www.pdffactory.com 3 And the CBI would handle future sale or purchase of securities by In addition, banks have closed the facility exposure and advances from the Bank The Iraqi Central and resolve instead facilities list new lending and deposits, which were adopted by the The Bank's Board of Directors recently, and the intervention of the legal reserve requirements of regulation force in November and may buy or sell the Central Bank of Iraq and the decision of the securities of the Ministry of Financial banks in accordance with the principle of competitive needs and purposes of monetary policy (released Open market operations) and explain in details these changes all related tools The new monetary policy:- The tools of politics النقدیه: Serving the drafting by the Iraqi Central Bank monetary policy tools to enhance The ability of banks to manage the liquidity of short-term deadlines, and directed the Central Bank of Iraq Monetary policy required (which can be  Kim in a variety of media including variables Yield curve, the exchange rate, and the amount of growth in the money supply) with respect to the ability to Liquidity management the tools of monetary policy adopted by the Central Bank to work with markets Cash and other securities to find an effective payment system giving banks the confidence to meet obligations Payment and reasonable cost. And certainly the most costly provision of liquidity is using additional reserves (as in Cabinets and balances with the Central Bank in excess of required reserve requirements Legal) the margins of intervention (difference between interest rates on deposits and loans) Can be reduced by allowing the banks to reduce the possession of proceeds resulting from excess reserves To pay the interest and the ability of banks to reduce their excess reserves to find media Reliable in liquidity management. The CBI has taken effective and efficient tools to market liquidity (cash basis) and are:- -1 foreign currency auctions and buy or sell the dollar, the Central Bank of Iraq Or to the market in the light of its political goals. -2 list the legal reserve requirements, banks depend on tenure as Customer deposits any differential levels of deposits with the Central Bank of Iraq, currency In the cabinets and the securities of the Ministry of finance. -3 facility exposure for banks that have balances in the Bank The central but insufficient to settle its obligations at the end of the working day Banking. PDF created with pdfFactory Pro trial version www.pdffactory.com 4 -4 window discount for bills of Exchange or bank notes and similar maturity less 90 days and looks at least 2 signatures (currently imposed by 11% to First class financial). -5 lender of last resort facilities, which gives the banks with problems Chronic liquidity for the guarantee provided by it. -6 effect of securities of the Ministry of finance and buy or sell whereby banks such Government securities at face value (i.e. http://cbi.iq/documents/monetary_policy_AR_f.pdf
    24 replies | 958 view(s)
  • harry's Avatar
    Today, 08:24 AM
    Maliki calls for the arrest of al-Abadi Ali al-Dabbagh Agency eighth day February 27, 2015, 13:16 Baghdad _ ((eighth day))Student Vice President Nuri al-Maliki, a spokesman for the arrest of former Prime Minister Ali al-Dabbagh. Political and reported close to Prime Minister Haider al-Abadi, that the latter received a phone call from al-Maliki, informing him to stop agent charges the media and investigative committees assigned to indict him personally, and forget about the past period. " The source indicated that "al-Maliki told Abadi text that: exploration of the corruption of the previous phase, will delay his career seeking to repair the situation in Iraq, and what is not, it does not make Maliki only person responsible for the corruption of previous governments Files". He added that "al-Maliki tried to show that he is not only responsible for that dark period, and word-media all responsibility about the corruption of the previous Iraqi governments, is not true," explaining that "al-Maliki told Abadi that the best example of this responsibility Dabbagh deal Russian corrupt arms, and you should arrest him. " The source continued that "Abadi looked comfortable from the tense stand-Maliki and told him that the text" were not guilty do not fear punishment, legal investigations, and will take the role of the judiciary to hold accountable officials and corrupt whatever their position. " It is said that a deal of Russian weapons, has yet travel a government delegation in the previous period, Prime Minister Nuri al-Maliki and his former defense minister / agency Saadoun al-Dulaimi, and Ali al-Dabbagh, a group of those who followed them in addition to the participation of businessmen, traders senior, was al-Maliki is the only one responsible for it. http://8th-day.com/?p=97856
    0 replies | 24 view(s)
  • harry's Avatar
    Today, 08:16 AM
    National Bloc: next week will end the suspension hearings27/02/2015 12:05 BAGHDAD / Source News / .. confirmed a member of the House of Representatives for the National Bloc olive Hussein, the masses and the Union forces have a tendency to end the County Council of Representatives next week. Hussein said in a press statement that "the National Bloc announced its support of the federal government, headed by Haider al-Abadi, and we can not work to weaken the government," noting that "the National Congress will resume Saturday or Monday to attend the next Council of Representatives." Hussein explained that "the presence Council of Representatives is not entitled political boycott, but rather a sort of protest to the presence of weapons outside the control of the security services and our goal is to pressure the government to work on the inventory of weapons, however, the security forces." Decided Ktlta forces and the National Union at a meeting of the two Monday continued suspension of its presence at the meetings of the House of Representatives for failure to meet government demands made by the days http://l-news.net/index.php/policy/72360.html
    0 replies | 19 view(s)
  • guardian's Avatar
    Today, 01:54 AM
    It looks like the CBI can do anything they want. Some sellers are buying these back, but I can't say who. You would have to call them. I'm praying that this is not the beginning of bad news for investors, because I believe in the power of prayer. I feel the whole thing revolves around the fact that they decided not to use the 50 because it was rarely used, and should not effect the other categories imo.
    24 replies | 958 view(s)
  • guardian's Avatar
    Today, 01:28 AM
    Central Bank of Iraq "(Press release ) due to stop the public from trading cash paper category ( 50 ) dinars" 02/25/2015 Translation of the .pdf document within the press release here: http://cbi.iq/documents/press%20for%2025-2-2015.pdf M / statement issued by the Central Bank of Iraq Due to stop the public from trading cash paper category (50) Dinara According to the authority vested in Article (36) of the Iraqi Central Bank Law No. (56) for the year 2004 it was decided as follows: 1 - to withdraw cash from the paper category (50) dinars from circulation. 2 - on the banks and their branches replace banknotes presented to it without a fee or commission, and the banks deposit with the central bank and its branches for the purpose of being the equivalent value in our calculations. 3 - The duration of the replacement category above two months starting from 03/01/2015 up to 04/30/2015. 4 - After the replacement for the banknote become null and void and has no legal tender and will not be accepted in the Republic of Iraq. CBI Baghdad 02/25/2015
    24 replies | 958 view(s)
  • guardian's Avatar
    Today, 12:36 AM
    Order 56 Central Bank Law Article 36 Redemption of currency 1. The CBI may decide to redeem banknotes or coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A decision to redeem banknotes or coins shall be issued in the form of a regulation of the CBI specifying the period during which the exchange shall take place and the locations and times at which withdrawn banknotes or coins shall be presented for redemption. 2. At the end of the exchange period, or at any other time specified by the CBI, redeemed banknotes and coins shall be demonetized and cease to be legal tender. 3. The CBI shall notify the public, by publication in the Official Publication, of the banknotes and coins that are legal tender. http://en.wikisource.org/wiki/Order_56:_Central_Bank_Law
    24 replies | 958 view(s)
  • THIEF OF BAGDAD's Avatar
    Yesterday, 10:34 PM
    Only 50 dinar doesen't have new security features. Also not much 50 dinar in circulation in Iraq . The statement added that "the 250, 500 and 1,000 dinars categories has been added to the new security marking a colored bristles visible and invisible circular signs for the visually impaired (blind), in addition to coating banknotes paint shield to protect it from dust, as well as a string ensure width of 1.2 mm." The bank indicated that it "has been added to the colored hairs visible and invisible categories 5,000 and 10,000 and 25,000 dinars, and signs for the visually impaired and coating to protect it from dust and thread tape to protect the image of the palm trees and Animations and colors changing different depending on the three denominations," indicating that it "has been added to the high sign of protection known universally Bspark. " The bank said that "it was to change the image in the Arab world, al-Hasan ibn al-Haytham in the paper 10 thousand dinars category to a picture of the Freedom Monument in Baghdad artist Jawad Salim, in addition to modifying the image of agriculture and the field in a class of 25 thousand dinars, where will be charged Agriculture jar of water and shows left behind by a tractor plowing new ground. " The Iraqi Central Bank announced in November 2013 its intention to issue coins small denominations and other paper with large groups of class 50 000 dinars written in Arabic and Kurdish. and founded the CBI independent bank under the law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions daily for buying and selling currencies.
    24 replies | 958 view(s)
  • BASSER's Avatar
    Yesterday, 09:28 PM
    Appreciate your thoughts JRCivic. I have my fingers crossed too!
    5 replies | 464 view(s)
  • Caviar Dreams's Avatar
    Yesterday, 06:06 PM
    some of you have small notes??? I've only seen 5k 10k 25k notes
    24 replies | 958 view(s)
  • mcptrman's Avatar
    Yesterday, 05:53 PM
    IF the CBI would Revalue(or planned to revalue in the near future), then the 50 Dinar note would gain value and would not need to be removed from circulation. Any thoughts ? "At the current exchange rate, a 50 Dinar note is worth about 4.3 cents US. The logical reason that the CBI would be phasing out this denomination would simply be that it costs far more to print it than it's actual cash value."
    24 replies | 958 view(s)
  • BASSER's Avatar
    Yesterday, 05:49 PM
    Just the fact that they are doing SOMETHING is encouraging to me. One way or the other, win or lose, let's get this thing over with!
    24 replies | 958 view(s)
  • JRCivic's Avatar
    Yesterday, 03:54 PM
    The price of IQD being sold by traders here in the US has increased $60-80 per million in the last month... coinciding with the change in the amount of cash being sold at auction daily by the CBI. In addition, dealers and traders have also increased the "buy back" rate of IQD by $40-60 per million. This would suggest that acquiring dinar from Iraq may be getting more difficult... creating some supply vs. demand issues. The logical reason for the increase in "buy back" rates is that the dealers can continue to fill back-order customers and still profit handsomely instead of losing the sale all together. Let's hope that this continues... driving both selling and buying pricing up higher and higher. My only fear about the "new" CBI sale policy is this: will it be transparent like the auctions were. I mean, with the auctions, we at least had an idea of how much dinar was hitting the market. If they continue to sell using another mechanism, will we be able to see those results as well ??? Time will tell. Fingers crossed.
    5 replies | 464 view(s)
  • JRCivic's Avatar
    Yesterday, 03:35 PM
    At the current exchange rate, a 50 Dinar note is worth about 4.3 cents US. The logical reason that the CBI would be phasing out this denomination would simply be that it costs far more to print it than it's actual cash value. Since paper money wears out quite rapidly in Iraq, this is likely an expense that the CBI would like to eliminate. As for those here in the US holding small notes like the 50... I would be shocked if any dominant dealers like Dinar Trade would be willing to exchange them for larger bills. I suppose a phone call to inquire couldn't hurt. Just keep in mind that it takes 24 of them to equal a single dollar, so freight back and forth may cost you far more than the value of the bills that you hold... that is, unless you have a Shiite ton of them !!!
    24 replies | 958 view(s)
  • Jade's Avatar
    Yesterday, 03:33 PM
    I guess I don't have to sweat until they get to the 2500 dinar. At least movement is happening. I agree with Tudor - call the location where purchase was made and work out a deal with them to trade.
    24 replies | 958 view(s)
  • ceric's Avatar
    Yesterday, 03:08 PM
    I agree argos need some grounding and to know whats going on its very confusing think you understand the process and then carpet pulled from under
    24 replies | 958 view(s)
  • argos's Avatar
    Yesterday, 02:12 PM
    Would really like to hear Med's take on all that is happening. Do miss the chats. Has anyone heard how he and his family are doing ?
    24 replies | 958 view(s)
  • W8n2cashin's Avatar
    Yesterday, 01:22 PM
    Thanks harry, Maybe the 250 note will be next and so on up the ladder. I'm almost excited..........maybe the LDs will show themsilves.
    24 replies | 958 view(s)
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