OIL 101: ENERGY ECONOMICS
OIL 102: PEAK CHEAP OIL
OIL 103: SHALE OIL
OIL 104: ENERGY & THE ECONOMY
CENTRAL BANKING 101: COMING SOON
CENTRAL BANKING 102: COMING SOON
CENTRAL BANKING 103: COMING SOON
CENTRAL BANKING 104: COMING SOON
MONEY 101: MONEY CREATION
MONEY 102: MONEY AS DEBT
MONEY 103: COMING SOON
MONEY 104: COMING SOON

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  • b1955's Avatar
    Today, 08:58 AM
    Happy Hump Day to all!!! :) :) :)
    611 replies | 31082 view(s)
  • harry's Avatar
    Today, 08:43 AM
    Governor of the Central Bank of Iraq participates in the meeting of the Board of Governors of central banks 9/19/2018 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail participated in the meeting of the forty-second session of the Board of Governors of Arab Central Banks and Arab Monetary Institutions in the Jordanian capital Amman and under the patronage of the Prime Minister of the Hashemite Kingdom of Jordan Dr. Omar Al-Razaz. The meeting was chaired by Mr. Mohammed Mansour Zemam, Governor of the Central Bank of Yemen and Chairman of the current session of the Board in the presence of the Governors of the Central Banks and the Arab Monetary Institutions, as well as observers from the League of Arab States, the General Secretariat of the Cooperation Council for the Arab States of the Gulf, the Union of Arab Banks, Middle East and North Africa, as well as the presence of Arab executives at the IMF and the World Bank and the Director General of the Bank for International Settlements. The participants discussed the regional and international monetary, financial and economic developments and their repercussions on the Arab countries, as well as discussing the promotion of credit for small and medium enterprises, financial inclusion files and support for the Arab banking sector. https://cbi.iq/news/view/856
    0 replies | 49 view(s)
  • harry's Avatar
    Today, 08:37 AM
    Dawa Party intends to separate Haider Abadi from his ranks 9/19/2018 A political source revealed the intention of the "Islamic Dawa Party" led by Nuri al-Maliki, separated the head of the political body, the current Prime Minister Haider Abadi of his ranks with two other leaders. The website of the Arab 21 Qatari source, said that "the Dawa Party is determined to separate leader Haidar Abadi, in addition to other leaders Ali Alalak and Walid al-Hali from the ranks of the party." These developments come after a statement issued by three of the leaders of the Dawa Party carried Abadi the greatest responsibility in refusing to dangle with the wing of Nuri al-Maliki, after an agreement to merge the two lists sponsored by the Dawa Party after the parliamentary elections. The statement issued by the three leaders that this caused the consensus of the policy of the "conquest" of Hadi al-Ameri and "Sorrow" supported by Muqtada al-Sadr, the remains of the brothers of the call and jihad, "victory" (led by Haider Abadi) and "law" (led by Nuri al-Maliki). http://www.skypressiq.net/2018/9/19/%D8%AD%D8%B2%D8%A8-%D8%A7%D9%84%D8%AF%D8%B9%D9%88%D8%A9-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D9%81%D8%B5%D9%84-%D8%AD%D9%8A%D8%AF%D8%B1-%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%85%D9%86-%D8%B5%D9%81%D9%88%D9%81%D9%87
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  • Bondlady2's Avatar
    611 replies | 31082 view(s)
  • harry's Avatar
    Today, 08:12 AM
    Finance: The budget of 2019 approved the amount (55 - 60) dollars per barrel of oil 9/19/2018 The Ministry of Finance revealed that the federal budget for the next year 2019 approved the amount of (55 - 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source of the Kurdistan region, stressing the continuation of the payment of debt and the benefits of Iraq. Undersecretary of the Ministry Dr. Maher Hammad Jouhan said a special statement for the "morning": The federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general situation of the country changed from the position it was for the past years and there is a great need to change or The various forms of financing, both the general budget and other budgets, or the financing formulas, are supported by borrowing, entering into partnerships or finding outlets for the private sector. He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 - 60) dollars, giving the state a broader scope to strengthen services and social expenses such as salaries and expenses of education, health and medicine and expenses The ration card, subsidies and social protection networks do not have a deficit either by allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector in order to occupy its real space by providing job opportunities and infrastructure suitable for services or enhancing productive activities. He pointed out that the federal budget adopted the amount of Iraqi oil exported daily between (3.8 - 4) million barrels, including the quantities exported from the Kurdistan region, and expressed the hope that the volume of this export, because Iraq currently exports only 3.8 million barrels and sometimes Less because of the different circumstances, especially the status of Kirkuk, which did not issue the prescribed amount. He said that despite this, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives, explaining that the difference in prices helped to bridge the deficit, To external or internal borrowing, has returned to positive. And on the debts of Iraq and whether there is a clause in the federal budget indicates that, the Undersecretary of the Ministry of Finance, there is an item of debt in the budget of 2018 and 2019, and there are debts of various denominations for the budget, both internal and external, revealing that Iraq is currently paid within the table, 12 trillion dinars between The debts of the farmers have been paid for 2014, 2015, 2016 and 2017, denying the existence of any debt to farmers and contractors, and remained only 30 percent, the ministry seeks to pay them by the beginning of next year , And It placed the text of the budget ensures the provision of appropriate allocation of funding. http://www.alsabaah.iq/ArticleShow.aspx?ID=163359
    0 replies | 37 view(s)
  • harry's Avatar
    Today, 07:51 AM
    Timings and budget constraints 9/19/2018 Mohammed Abdul Zahra al - Hindawi general state budget represents one of the most important annual laws, this importance comes as drawing on operational and investment spending tracks in the country, as well as identifying the sources of income and the mechanisms available through different sources and the amount of deficit schematic or realistic. And thus represent the state's financial plan for next year, which includes the planned expenditures of ministries and provinces and various institutions in terms of securing salaries of employees, which reach about 40 trillion dinars annually, as well as the provision of allocations for investment projects carried out throughout the country. These tracks are determined according to the forecast of revenues expected to be achieved through oil sales, which represent the largest share of budget funding, or through taxes and fees on services and revenues of border ports and contributions of other sectors . As a result of this importance, the budget enters into multiple tunnels and does not come out of them until after the painstaking efforts of all parties concerned starting from the ministries and governorates and independent bodies, which submit their annual programs, through the Ministries of Planning and Finance, up to the Council of Ministers, to the House of Representatives, She returns again to enter into the same spending that she entered on the first trip because of the objections and observations of members of the House of Representatives, and then turn to resume the trip again. Then passed by it must go to the Presidency of the Republic for approval and then to the fact sheet for publication, and then the Ministries of Planning and Finance to issue the implementation instructions, the government may challenge some items that the House of Representatives to change or add. Such a strenuous journey will take a period of time that in some years will cross the first third of the year or more. So as not to stand confused at the time unable to address the problems that may arise in the course of implementation. And here we want to talk about the budget of 2018, which approved the price of a guess $ 46 per barrel, and a deficit reached about 13 trillion dinars, has been described as austerity budget because many aspects of spending was not allocated the amounts required due to lack of financial resources .. After days began oil prices improve slowly Slowly, the Ministry of Finance began to speak of a financial abundance that helped fill the fiscal deficit in the budget. But the problem faced by the government, especially after the events in the province of Basra and other provinces, is how to provide financial allocations for doors not covered under the budget law . At a time when there was a huge financial abundance, the Ministry of Finance could not transfer funds between the doors because the law prevents this, nor could talk about the preparation of a supplementary budget in the absence of the House of Representatives. Therefore, some articles of the budget law have become a constraint on the government in providing appropriate financial allocations to provide services despite the availability of financial liquidity . And here and because we are still in the early stages of preparing the budget for the next year 2019, and with optimistic expectations of the arrival of oil prices to about $ 80, there should be a clear vision of this budget and reconsider all its doors away from the political effects that were subject to the budget for the year 2018 due to synchronization Prepared with the end of the legislative session and therefore some of the visions that governed the preparation were political visions trying to establish for the next stage . We believe that the circumstances of Iraq now require the preparation of a budget capable of meeting the requirements of development properly, and the need to address all the problems that turned into constraints that tied the government's hand in spending on vital and strategic projects . http://www.alsabaah.iq/ArticleShow.aspx?ID=163352
    0 replies | 36 view(s)
  • harry's Avatar
    Today, 07:43 AM
    good morning to all ds i pray that everyone will have a blessed day and enjoy its
    611 replies | 31082 view(s)
  • ksdunlap's Avatar
    Today, 06:14 AM
    ​Good morning DS. I hope everyone enjoys a wonderful & safe day.
    611 replies | 31082 view(s)
  • harry's Avatar
    Yesterday, 08:20 AM
    The central bank announces its sales rise to 191 million dollars 9/18/2018 The central bank's foreign currency sales rose Tuesday to $ 191.56 million from $ 106.19 million in Monday's auction of $ 85.37 million. The exchange rate was 1190 dinars per dollar in the auction held with the participation of 35 banks and one company only for financial transfer, "the bank said in a statement. The statement added that 'these sales are the results of the auction on Wednesday,' explaining that 'total sales totaled $ 225.96 million'. He added that 'the volume of funds sold to strengthen banks' assets abroad amounted to 190.06 million dollars, while the total amount of cash sold at $ 1.5 million'. He explained that 'the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price'. http://www.ikhnews.com/index.php?page=article&id=172260
    0 replies | 51 view(s)
  • harry's Avatar
    Yesterday, 08:12 AM
    Central Bank: Most private banks did not reach the level of ambition 9/18/2018 The governor of the Central Bank Agency on the relations, on Tuesday, the number of private banks in the country of 70 banks, stressing that most of these banks did not reach the level of ambition. "The number of private banks, transfer and exchange companies exceeds the need of the market, as we did not grant any new license to open a commercial bank or a license for a banking company. We also canceled the financial transfer companies, in the presence of an intention to restructure the banking companies," Alaq said in a statement. Leads to greater control over them and there is a plan to merge some banks. " He added that "licenses have been granted for the opening of a number of Islamic banks based on the facilities provided by its law, as the House of Representatives put a paragraph to help establish it, reducing the capital required at the establishment." "There are currently 70 banks operating in the country, 20 of which are branches of foreign banks, but most of them are newly formed, so it did not reach the level of ambition, and these banks worked under exceptional circumstances passed by the country. "As you know, the main task of the banks is to provide credit through the granting of loans and other services, in return, take the funds of depositors and give them a percentage of interest, but Iraqi banks in general have a great difficulty in doing this Activity. When a loan is granted, the borrower often does not meet its repayment despite the high collateral given by the banks and the high interest rate, as borrowers may be up to 20 percent. " He pointed out that "the problem is that the bank when it starts its actions against the borrower, such as the seizure of the property, for example, faces a significant delay in legal proceedings by other parties, in addition to threats of tribal or partisan, and this makes banks afraid to grant loans. http://www.knoozmedia.com/361531/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A3%D8%BA%D9%84%D8%A8-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A%D8%A9-%D9%84%D9%85/
    0 replies | 44 view(s)
  • harry's Avatar
    Yesterday, 08:00 AM
    Hadi al-Amiri announced the withdrawal of his candidacy for the presidency of the Iraqi government 9/18/2018 Announced the leader of the coalition "construction" Hadi al-Ameri, on Tuesday, withdrew his candidacy for the Iraqi prime minister, stressing the need to be nominated for this position by consensus of all blocks. Ameri said in a press conference followed by the channel "Alsumaria" Iraqi, "announced the withdrawal of my candidacy for prime minister," adding that "the candidate for prime minister should enjoy the consensus of political blocs, and if supported by all the forces will certainly share his share." "As we worked together day and night to fight against the scourge and rid the Iraqis of this scourge, we must work together to succeed in providing services and building Iraq," he said. Al-Amiri, known as Abu Hassan al-Amiri, was the former Iraqi Minister of Transport and Communications and a member of the current House of Representatives. He currently leads the Badr Organization and the Popular Popular Militia. https://www.albawaba.com/ar/%D8%A3%D8%AE%D8%A8%D8%A7%D8%B1/%D9%87%D8%A7%D8%AF%D9%8A-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%B1%D9%8A-%D9%8A%D8%B9%D9%84%D9%86-%D8%B3%D8%AD%D8%A8-%D8%AA%D8%B1%D8%B4%D8%AD%D9%87-%D9%84%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-1187668
    0 replies | 50 view(s)
  • harry's Avatar
    Yesterday, 07:50 AM
    Parliament forms its parliamentary committees and moves towards passing laws that are inoperative 9/18/2018 Most notably oil and gas and the Federal Court and Intelligence Baghdad / Sabah / Muhannad Abdul Wahab The House of Representatives is currently moving towards the distribution of parliamentary committees among its members, under the emphasis on the need to adopt competence and competence, away from the political quotas that were adopted during the previous sessions. This trend, according to parliamentarians, would accelerate the issue of passing the laws of the stalled and closer to the views between the political blocs in order to upgrade the institutions of the state and society and the provision of services in all governorates. The deputy Bader Zeidi, in a press statement: "There are discussions on the distribution of committees according to the criterion of competence and integrity and leave the distribution of committees behind the scenes," noting that "over the previous sessions were distributed committees according to political quotas and this session will leave this idea and be distributed in Public and not in secret. " He added that "they will not allow the naming of any person to the presidency of any parliamentary committee unless it meets all the conditions that qualify him," pointing out that "the current session will begin to pass laws that have been stalled since previous sessions ." The head of parliament, Mohamed Halbousi, directed yesterday to form a joint parliamentary committee overseeing the distribution of members of the House of Representatives to the specialized committees. Regarding the adoption of important legislation, MP Jawad Hamdan said in a statement to "Sabah" that "one of the most important laws that we are putting forward in the parliamentary sessions of the current session, which was not enacted for political reasons, the oil and gas law and the Federal Court and the Council of Union and Intelligence, Some amendments to the laws in the framework of the plan that was developed recently, "revealing at the same time," the existence of a tendency to amend some paragraphs of the Constitution. " "There is a committee to negotiate work on the study of laws and then start discussions with the political blocs in order to mature special ideas to be ready for discussion within the House of Representatives and then vote on them." MP Ahmed al-Kanani said that "the block of construction seeks to amend some important legislation, including Article 30 of the law on health and social security in addition to the laws that fight corruption." He pointed out in a statement to "Sabah" that "the disruption of some laws was the mood of the heads of blocs, either in the current session will be the deputy greater role and freedom to vote on some important legislation, in light of past experiences of previous sessions." Al-Kanani stressed the existence of insistence on overcoming all barriers in order to mature the important laws that are in the interest of the citizen, "pointing out at the same time that" the parliamentary committees began to form and will have a task, especially the Legal Committee . " For his part, MP Khalil Mawla said in a statement to" Morning ", that" we will not have any red lines on any law as long as it is in the interest of the people where there are legislation ready to vote from the last parliamentary session. "He believes that" one of the most prominent laws that we are passing is related to investment, "pointing out that it " http://www.alsabaah.iq/ArticleShow.aspx?ID=163315
    0 replies | 45 view(s)
  • harry's Avatar
    Yesterday, 07:41 AM
    The economic capital 9/18/2018 Mustafa Mohamed Ibrahim Basra is the third largest city in the Republic of Iraq and is the economic capital of Iraq and its first water outlet. Basra is located in the far south of Iraq and on the West Bank of Shatt al-Arab. It has a population of 2,796,000 and an area of ​​19,070 km2. Own it. Iraq is the fourth largest oil reserves in the world, estimated at 115 billion barrels. Basra has a large oil wealth. Statistics show that it owns 15 fields out of 77 fields, including 10 producing fields and is still waiting for development. These fields also contain oil reserves More than 65 billion barrels, accounting for 59 percent of the total Iraqi oil reserves. As the revenues of oil in the budget of 2018 about 74 trillion Iraqi dinars and non-oil 12 trillion Iraqi dinars and include (taxes and customs duties and capital revenues, which concludes that the oil revenues are the main ones in the budget, which in turn determines the expenses and salaries and jobs and the volume of investments, The largest on the economic capital of Basra. Basra has the largest oil fields in Iraq, including the Majnoon field, one of Basra's giant fields and contains a proven oil reserves ranging between 23-25 ​​billion barrels and produces about 100 thousand barrels per day and was developed with a capacity of 600 thousand b / d. The field of Nahran Omar, which is still modest production of about 1000 b / j, although it is from the giant fields and can reach the production capacity after the development of 500 thousand b / d and the number of wells, which contains 15 wells and reserves are certainly 6 billion barrels. The field of West Qurna is also from the giant fields and contains a proven reserve of 18 billion barrels and the number of wells 247 wells, while the Rumaila North is one of the giant fields and in the seventies of the last century and the number of wells 340 wells, the ninth largest world oil field. The extraction of crude oil in Basra is characterized by low production cost, which is the lowest at the global level, because the oil and gas fields are located on land and in the depths very close to the surface of the earth and most of the economic feasibility because of the size of large reserves and large area. And does not include complex geological formations, in addition to having border ports with Iran and Kuwait, as well as port revenues, estimated at 21 billion dinars per month. The reason for the recent crisis in the economic capital (Basra) is not political but purely economic, despite the advantages of this economic capital, but it needs a restructuring of its economic structure, which contributes to the development of capacity to raise the economic level of the province and the family. http://www.alsabaah.iq/ArticleShow.aspx?ID=163300
    0 replies | 63 view(s)
  • harry's Avatar
    Yesterday, 07:34 AM
    good morning to all ds i pray that everyone will have a blessed day today and enjoy its, yes Tudor its want be long before summer leave us and fall getting close and deer season i have all ready been in woods last week putting up trail camers getting ready.
    611 replies | 31082 view(s)
  • Bondlady2's Avatar
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  • tudor's Avatar
    09-17-2018, 09:39 AM
    Good Monday morning all. Hope everyone had a good weekend. Weather is changing, getting into the 40's at night now, and low 70's for a high. Had to wrap the tomato plants last night to keep them from going dormant, not quite ripe enough for the toms still on there lol We had pizza with friends last night, nice time and good food. Get to do a harry chore today, mow our lawns hahaha. Needs to warm up a bit first, 46* right now. Guess will have to start wearing long jeans instead of shorts before long. T-shirts instead of tank tops, dang, there goes summer..... You all have a great week and keep on smiling! Prayers still going out for the east coast hurricane damaged areas.
    611 replies | 31082 view(s)
  • harry's Avatar
    09-17-2018, 08:04 AM
    Central Bank: The conversion of the dollar from Iraq to Iran has been suspended since 2012 9/17/2018 The governor of the Central Bank Ali Alalak, on Monday, that the conversion of the dollar from Iraq to Iran has been suspended since 2012, while pointed out that the past months witnessed the transformation of Iraq to the normal follow-up after it was in the gray area. "The conversion of the dollar from Iraq to Iran has been suspended since 2012, and the Iranians are aware of this," al-Alak said in an interview with Al-Sabah newspaper. "Any dollar transfer will go through the US Federal Reserve, which will stop the transfer," he said. He explained that "Iraq was classified in the financial organization responsible for the classification of countries within the framework of money laundering, within the gray area, and his way to enter the black area, to become a financially isolated area and the report of the assessment of Iraq contains 700 observations," noting that "After hard work removed All reservations and turned us Iraq from the gray area to the area of ​​continuous follow-up, and in the past months we have become a normal follow-up area, we are the case of any country in the world. " http://aletejahtv.com/archives/254321
    0 replies | 84 view(s)
  • harry's Avatar
    09-17-2018, 07:41 AM
    Governor of the Central Bank of the {morning}: cash reserve is approaching 60 billion dollars 9/17/2018 An initiative to rehabilitate Baghdad bridges in coordination with banks Baghdad / Abbas Abboud and Ahmad Abed Rabbo The governor of the Central Bank Ali al-Alaq that the size of reserves of hard currency up to 60 billion dollars, and covers 170 percent of the size of the mass of the local currency, while revealing the existence of a plan for the future restructuring of the Iraqi currency. Al-Aalak said during a dialogue with him "morning", that the Central Bank will launch in coordination with the banks initiative to rehabilitate the bridges of Baghdad, similar to the Baghdad initiative launched to rehabilitate the public squares. Of things to be calculated for the central bank is the exchange rate stability, how is it? What are your future plans in this direction? - The stability of the exchange rate is one of the macroeconomic features, and is an important indicator of the stability of the country economically, which makes it a key task of the Central Bank, as stated in the law, because it is directly linked to the purchasing power of citizens, This means that any disruption in the standard of living of the citizens may increase the challenges faced by the government, so we have worked hard to stabilize the exchange rate and reduce inflation rates. . We have succeeded in overcoming a very complex and challenging phase, especially when the country's oil revenues have fallen to 70 percent in some months, in light of the war against terrorist gangs by setting a set of balances that have made inflation no more than 2 percent. Will the value of the Iraqi dinar remain the same or is there an intention to raise it? - The exchange rate in Iraq follows a monetary policy based on the fixed exchange rate of the dinar and this does not mean absolute stability, may come under some circumstances may increase or reduce it according to various economic data. We are currently moving towards no change in the value of the dinar, as it is not right to make changes under completely unstable conditions, which may confuse the overall situation. Why are not there large quantities of small coins, and what is the reason for the absence of metal groups? - We have small currencies in the appropriate quantities, but the frequent movement and circulation and use and lack of attention to lead to damage quickly, as the Central Bank of Iraq after 2004 to mint coins in large quantities but did not receive acceptance or popularity in the local market, which caused losses, Because the market has been accustomed to paper currency making it difficult to market the coin. So the central bank recently put in place a plan to compensate for the existing small categories damaged, as next month will be large quantities of them will meet the needs of the market completely. On the other hand, we receive a lot of damaged banknotes and replace them with new banknotes through an expanded committee that checks them to make sure they are correct. Our doors are open to citizens to receive any amounts of damaged currency. Where does the central bank print the local currency? - We print in international companies, possess enough capacity to print banknotes within the advanced security standards in France, England and Germany, the design is by the Central Bank, and the paper used in printing is very high specifications. The Central Bank is trying to print non-counterfeit paper. We have succeeded in this. The counterfeit quantities are very few and negligible, and we have very advanced equipment in the electronic and electronic detection of counterfeit currency, called comprehensive machines, so we do not rely on human effort Just. The central bank has recently offered the category of 50,000 dinars, is there an intention to put the category of 100 thousand? - These ideas are traded by the Central Bank, but at the present time, there is a tendency in some countries to reduce the categories of currencies so as not to be stored or counterfeited, and that the currencies of small groups, may lead the citizen to bid farewell to banks for the difficulty of storage. But generally the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but that plan needs to deliberate steps, and a stable situation in order not to be exploited in the fraud and other. How does the dollar sell in the central bank or what is known as the currency auction? - It is a common mistake now to talk about the currency auction in some media and social networking sites, while this auction has been suspended since 2006, but what is happening now is the process of financing the foreign trade of the dollar, covering the country's needs for import in addition to the requirements of travel and treatment And the transfer of profits resulting from investments and others. The government gets the dollar through the sale of oil and then replace the dollar with the Iraqi dinar from the central bank, because the balance of the state's financial dinars, and then the central bank to withdraw the local currency from the market and replace them in dollars, to maintain monetary stability . The process of withdrawing the dinar by meeting the market need of the dollar represents a revaluation of the local currency, and this method does not represent the diligence of the Central Bank, as its law provides for the sale of foreign currency in a simple and unconditional manner, in addition to the existence of an agreement between Iraq and the IMF International approved by the House of Representatives in 2008 provides for this. The situation in Iraq is different from other countries, because of the lack of diversity in the financial revenues of hard currency other than oil, as the Iraqi private sector is unable to support the local market in dollars through imports, which makes the market depends entirely on trade finance Through the central bank . How much is the central bank's reserve of foreign currency and what is the size of the local currency's currency? - The size of the cash reserve of foreign currency is always measured to the size of the currency mass of the local currency in the market, in addition to other international standards, especially as the International Monetary Fund recently developed a new standard, which added the ability of the state to cover trade and debt repayment. As for the Central Bank of Iraq, it has a reserve of foreign currency is very comfortable within international classifications and is ahead of other countries, compared to the mass of cash offered by the local currency, as the reserve is close to 60 billion dollars, compared to 43 trillion dinars, which means it covers 170 percent of the size The monetary bloc, especially as the Arab Monetary Fund considers Iraq to be a country that exaggerates the size of reserves of foreign currency. Are there any bodies that monitor the reserves of foreign currency and can the central bank act in such funds? - The supervision is subject to several levels, foremost of which is the Internal Control Department of the Central Bank, in addition to an audit committee composed of independent observers who report to the Board of Directors of the Bank. The Committee also supervises the Internal Audit Department of the Central Bank. In addition, On the final accounts of the Central Bank, the data of this office are internationally accredited by the international financial institutions, not to mention the ongoing monitoring by the Office of Financial Supervision. The Central Bank of Iraq is the most institution subject to the multiplicity of regulatory bodies, and can not be disposed of any amount except within the standards provided for in the law and adopted internationally, so the rumored lack of reserve or conversion are all false rumors. What happened during the past years, from the decline in oil prices sharply, so did not stop the revenues in some months to fill the salaries of employees, made the Central Bank to two options, either the collapse of the situation or intervention to save, so the government issued treasury transfers worth 20 trillion dinars, And we bought them from the market, which affected the size of the cash reserve at the time, but we maintained the balance by maintaining the reasonable level of this reserve in exchange for meeting the need for the budget and maintain the exchange rate and inflation rates, this achievement is recorded to the Central Bank and has become highly praised by international organizations. How do you evaluate your relationship to the country's fiscal policy? - There is a close relationship, but along the line fiscal policy negatively affects the monetary currency, because the first may take certain trends do not benefit the second, for example when he notes a decline in foreign exchange reserves draws criticism to the central bank, but in fact When the budget law recognizes a financial deficit and provides for the deficit to be met by treasury transfers, it means that such remittances will be financed by the central bank. Is the number of private banks exaggerated, and how do you evaluate their work? - When I took responsibility, I found that the number of private banks and transfer and exchange companies outweigh the need of the market, as we did not grant any new license to open a commercial bank or leave a banking company, and we have canceled the financial transfer companies, with an intention to restructure banking companies, leading to control The biggest is there is a plan to merge some banks. But granted us licenses to open a number of Islamic banks based on the facilities provided by its law as the Council of Representatives put a paragraph to help establish the reduction of capital required at the establishment. There are currently 70 banks working in the country, 20 of which are branches of foreign banks, but most of them are newly formed, so did not reach the level of ambition, and these banks worked under exceptional circumstances experienced by the country. The initiatives of private banks to lend to citizens are very limited. Why? - As you know, the main task of banks is to provide credit through the granting of loans and other services, in return, take the money of depositors and give them a percentage of interest, but Iraqi banks in general have great difficulty in the practice of this activity, when you grant a loan, often does not meet the borrower to pay on Despite the large guarantees taken by banks and the high interest rate, as borrowers could be up to 20 percent. The problem is that when the bank starts its actions against the borrower, for example, the property is facing a significant delay in legal proceedings by other parties, in addition to tribal or partisan threats, which makes banks afraid to grant loans. Recently, there has been talk of replacing the dollar with other currencies in remittances with Iran because of US sanctions. How will this happen? - The transfer of the dollar from Iraq to Iran has been suspended since 2012, and the Iranians are aware of this, as the conversion in other currencies, because any transfer of dollars will pass the US Federal Reserve, which leads to the suspension of the transfer. Is there a control of the Central Bank in its branches in Kurdistan? - There was an abnormal situation in the status of branches of the Central Bank in Erbil and Sulaymaniyah, where it belongs to the Ministry of Finance in Kurdistan and this represents a violation of legal and constitutional, at a time that all the countries of the world have one central bank, so we moved with the provincial government and agreed with them to close those branches, And the opening of a new, so the Central Bank opened its new branch in Erbil and will open another branch in Sulaymaniyah, as the central bank is currently playing its full role in Kurdistan. What is the role of the Central Bank in supporting community initiatives and activities, such as the Baghdad Initiative launched by the Association of Private Banks? - We are working in the Central Bank to stimulate social contributions and initiatives by the banking sector and other financial institutions. We have established an optional fund called Tamkeen, in which banks and exchange companies participate in monthly amounts. We have established an internal system for this fund and a board of directors. As well as environmental and youth. Within this fund, we coordinated with the Ministry of Agriculture to dig artesian wells in some Iraqi provinces to contribute to solving the water scarcity experienced by the country, as we seek to launch the initiative to rehabilitate the bridges of Baghdad in order to appear properly. Honored by the Union of Arab Banks as the best Arab central bank governor, what are the most important achievements that led to this honor? - We, as a central bank, have close relations with central banks and international or Arab organizations, and those relations we have worked to deepen in order to benefit from those institutions in the transfer of the central bank from a bank that works with the mechanisms, standards and objectives of the twentieth century to another working in the 21st century, We have succeeded for a long time in introducing new functions and tasks in the Bank's work related to financial and monetary stability, developing methods of monitoring and abiding by the rules, methods and standards of combating the laundering of illiteracy. Terrorism financing, risk management, overall quality and economic modeling . The US Treasury Department said that the efforts exerted by the Central Bank in this regard are equal to the effort it has made in its previous history, as Iraq was classified in the financial organization responsible for the classification The countries within the framework of money laundering, within the gray area, and his way to enter the black area, to become a financially isolated area and the Iraq assessment report contains 700 observations. In the past few months, we have become the normal follow-up region, as we have been in the world, in the face of the great challenge that the country has experienced in terms of security and finances. So we have become very impressed with these financial institutions. , Federation of Arab Banks. http://www.alsabaah.iq/ArticleShow.aspx?ID=163226
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  • harry's Avatar
    09-17-2018, 07:39 AM
    Iraq is on the brink of political change9/17/2018 Ibrahim al-Abbadi Whatever the reasons that paved the way for the election of a new speaker, from the generation of young politicians, this event has its own symbolic significance, it means in what it means, that the Iraqi political scene is gradually witnessing the displacement of traditional faces dominated the facade, and the parties and leaders who was They will lose a lot of their influence and their positions and are going to address their failures and losses with new alliances to overcome the chances of getting out of the influential participation in the administration of power. In the past, the Iraqi political forces were killed to stay within the hierarchy of power and felt that their effective presence through major and major positions ensured them the maintenance of a popular base and a public presence. The Iraqi political life lacks the culture of the opposition, and because those who lose power no longer exist politically. To the world of oblivion, this is a matter of concern to many, personalities, streams and parties. On the contrary, this may raise the hopes of what they call the displacement of salvation, of political salvation, of old parties or forces that seem old and unable to renew themselves and adapt With data and circumstances Including the demands of the popular change in mood and culture, and if there is a serious change in the positions of other presidencies, the Prime Minister and the Republic, as it is rolling in the corridors of political, meaning that Iraq is coming in a renewed image of the political scene, changing the figures of the Troika political, And the ruling powers, in a peaceful exchange And temptations. But what is the role of the conflicting powers in the region, especially Iran and the United States in arranging and weighting the cards of this bloc at the expense of another? So far, the United States has appeared to be pressured but indecisive, but success has been an ally of Iran, whose representative in Iraq persevered in making contacts with all political forces. The result is that the apparent Shiite divide can not be controlled except by responding to the ambitions and calculations of the winning powers , Because it has a popular asset first, because it has political initiatives and multiple maneuvers to extract concessions from political forces, which has been the main organizer of the parties and forces of political Islam, the Shiite here is specifically the Islamic Dawa Party, which is about to leave power, in a test of his ability Li to remain within the political actors, or retreat to himself, and to go to revive its systems and repair its relations with the public, but the same renewal of thought and theory, after painful setbacks has damaged his reputation and history, and has allowed a generation Some may leave the invitation to the prime minister's office an opportunity to get rid of the thorny responsibility of the party and the failure of the entire political system, including the institutions that brought the change in 2003. The competitors were able to take control of the political street with the power of populist steps and violent political spelling. The achievement of the crystallization of a negative image and awareness of the anti-eat from the shelf of the new system and took the history and depth of the presence of the invitation in the Iraqi political reality, being the party school more organized and organized for generations of young people with an Islamic orientation . The loss of the invitation will be double that came out of his hand as prime minister, and his presence behind the leadership of the masses of desperate to take him out of his position, which occupies since 2005, but the most serious is the loss of his balance at the Supreme Council in Najaf, which was seen as an important asset in the Iraqi political equation It is true that it is an elitist party, that it bears a large part of the responsibility for the political failure and the general decline, but its history and its moderation compared to others still qualified him for the role of a prominent and active politician, before he was overwhelmed by the problem of the two lists and the subsequent rivalry that reached the conflict. Loss of the Dawa Party for its balance and h It will not be in favor of a real change in the political structure and the general climate in Iraq, but it will be the beginning of a major fragmentation affecting all political forces amid sharp polarizations and ideological conflict. The call represented, in the opinion of observers, an attempt to rationalize party work between Shiite currents on the right and left of the call, Closed, and others, extreme But the entire experience will be witness to the vicissitudes and failures of intellectual and political failure and the inability to keep up with internal renewal. The invitation itself has been imprisoned in power prison, which has lost its branches, organizations, cadres and reputation and turned into a movement and a party that needs a violent shock to wake up from its clinical death. http://www.alsabaah.iq/ArticleShow.aspx?ID=163224
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  • harry's Avatar
    09-17-2018, 07:31 AM
    Experts: Ensure the investment is the basis of development9/17/2018 Baghdad / Emad Al-Amara Iraq is suffering from the problem of the slow arrival of international and regional investments to be present in the local business arena, despite the great tendency to open up to foreign investment, especially after the achievement of the Central Bank achievement in getting out of the list of sanctions in the European Union to contribute to attract money and create the investment environment in the country and ensure the flow Investments to Iraq \ Attract investments between the academic economist d. "The success of the entry of foreign investment into Iraq requires the creation of an appropriate environment for the process of attracting these investments, after reforming the financial structure with procedures to facilitate the entry of investors' funds," he said. "The institutional and legal frameworks must be set up to instill confidence in the foreign investor, Which is stipulated in the investment law is the basis for organizing any economic activity. " Conflicting policies He continued: "It is necessary to achieve general stability, so if the investor enters its money, it must be dealing with the administrative policies and decisions in force in Iraq smoothly and without obstacles and away from routine." He stressed the importance of directing foreign investment first in the infrastructure, especially in the energy sector, transport and basic services as it is the basis for the success of other investments, while encouraging joint investments between foreign and national capital to transfer expertise to local investors to develop their capabilities and potential. He explained the importance of pushing foreign investors to use national labor after being given the possible facilities and exemptions from duties and taxes levied on such investments, and obliging foreign investors to run specific percentages of the labor force to absorb the phenomenon of domestic unemployment. " Infrastructure For his part, the academic economist Amr Hisham need to "overcome the challenges facing foreign investment to enter the country through upgrading the infrastructure in Iraq, especially in energy sources, roads, transportation and basic services necessary for the success of investment projects." "This requires directing the state's effort to rebuild the basic infrastructure of the society so that the process of reconstruction and foreign investment can succeed," he said. Investment flows Hisham pointed out that "the absence of sophisticated financial markets able to meet the requirements of the investment sector in all forms is another obstacle to the success of any investment," but the central bank opened the door to enter the money to Iraq after he managed to get the country out of the list "The presence of such sophisticated markets helps the process of investment flows and motivate citizens to invest their savings, especially if we know that there is an intention to privatize a number of state-owned enterprises." Investment Decision Hisham focused on " He called for "the development of the institutional and legal framework, especially after changes in the methodology of the state and its future directions in the transformation of the Iraqi economy from the central planned economy to the free economy, and the transition from the central management of the strong state to the federal system with broad powers to manage the regions and provinces, Its interaction with multiple institutions with unaligned powers ". http://www.alsabaah.iq/ArticleShow.aspx?ID=163212
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  • harry's Avatar
    09-17-2018, 07:24 AM
    Read the budgets of items9/17/2018 Mohamed Sherif Abu Maysam If we counted the total investment budgets since 2005 until 2018, except in 2014, where the disbursement under the Financial Management Law by one to 12 of the budget in 2013 because of the failure to approve the budget in that year, we find that the allocation of about 320 trillion Iraqi dinars, The framework of the budgets of items based on the availability of funds under the supervision of the disbursement limits of the appropriations listed and the purposes assigned to them, within the framework of routine legal procedures, concerned with the issue of tabulation on the basis of the type of expenditure, which does not clarify the achievement of the objective of spending, Unlike budgets Programs that are based on the interest of achievements and performance and the achievement of the objectives set within the economic programs concerned with the nature of the activities and the work of government agencies more than their interest in the subject of spending, and therefore, it sheds light on the work done to make sure that the results achieved equivalent to what was planned. The years 2013, 2015, 2012 and 2011 witnessed the highest investment financial allocations, which contributed to the expansion of investment spending in budgets that were recognized late due to political disputes. The first months of the fiscal year are lost between the readings in the House of Representatives and the consensus and then the approval and approval in the Presidential Council Publishing in the official gazette and setting the instructions for executing the budget and then initiating payment claims in installments, making the time factor a pressure factor in the implementation of government projects, usually spending in the last months of the year, spending hastily for fear that the money will return to the public treasury by the end of the age Finance. If we go beyond the other factors and what is hidden in the executive institutions, the pattern of investment spending in the balance of items with the time component of the compressor can explain the state of deflation in this institution, or waste and inaccuracy in that ministry, the more the expansion of spending, the more attention to the regulatory side than the interest To achieve the objectives for which it is spending, while the budget can achieve programs a set of positive goals at once, and lead to the need to raise the level of performance and rationalization of spending and prevent wasteful and evaluate the results by comparing plans. Accordingly, as we approach the date of preparation of the budget of 2019, after the political process has seen more stability, and decreased the frequency of interactions, the relevant parties are invited to review the pattern of budget industry, and the delinquency towards program budgets to avoid the shortcomings left by our budget items. http://www.alsabaah.iq/ArticleShow.aspx?ID=163211
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  • harry's Avatar
    09-17-2018, 07:13 AM
    good morning to all ds i pray that everyone will have a blessed day today and enjoy its.
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  • ksdunlap's Avatar
    09-17-2018, 06:18 AM
    Good Monday morning DS. Harry you are a special man. Tudor it sounds like a great day & meal. I don’t call it being spoiled, he’s very well loved. I hope everyone enjoys a wonderful & safe day.
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  • guardian's Avatar
    09-16-2018, 06:57 PM
    Digital Media: Cancellation of European sanctions on the Central Bank will activate the PayPal service officially Thursday 13 September Alsumaria News / Baghdad The Center for Digital Media, on Thursday, that the abolition of European sanctions on the Central Bank will lead to the activation of PayPal service officially in Iraq. The Center said in a statement received by Alsumaria News a copy of it, "The abolition of European sanctions on the Central Bank of Iraq will make it a reliable financial institutions to deal with European institutions and thus eliminate the obstacles to activate the services of PayPal officially in Iraq." "PayPal is considered the best and most popular bank in the world, providing users with digital financial services. Thousands of e-shops and e-commerce sites support PayPal, which was established in 1998 and supports Arab countries - Qatar, Oman, Yemen, Kuwait, Jordan, Saudi Arabia, Algeria, Egypt, Tunisia, Morocco and Somalia. " The Central Bank of Iraq announced on Thursday that it was officially released from the list of EU sanctions, pointing out that it has become a reliable financial institutions dealing with European international institutions. http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=https%3A%2F%2Fwww.alsumaria.tv%2Fnews%2F247281%2F%25D8%25A7%25D9%2584%25D8%25A7%25D8%25B9%25D9%2584%25D8%25A7%25D9%2585-%25D8%25A7%25D9%2584%25D8%25B1%25D9%2582%25D9%2585%25D9%258A-%25D8%25A7%25D9%2584%25D8%25BA%25D8%25A7%25D8%25A1-%25D8%25A7%25D9%2584%25D8%25B9%25D9%2582%25D9%2588%25D8%25A8%25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D8%25A7%25D9%2588%25D8%25B1%25D8%25A8%25D9%258A%25D8%25A9-%25D8%25B9%25D9%2584%25D9%2589-%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2583-%25D8%25A7%2Far%23
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  • tudor's Avatar
    09-16-2018, 09:52 AM
    Good morning everyone. Harry, ksd, I hope your families and friends that are in the danger zone of the hurricane are doing ok. It's so sad what happens from winds and especially the flooding, dang. May all be safe! Ksd, thank you for the birthday wishes for my husband, we had a great day sight seeing and having a great halibut and side winder chips basket for lunch, yummy. Made him apple pie that he wanted. He is spoiled lol. Harry, your such a good man and good neighbor, bless your heart for all you do for those in need. Mowing a couple of neighbors lawns is a big job, but one you did out of kindness. God will bless you kindly. Have a great day all! (sidewinder chips are potatoes cut like an extra thick ruffles or wavy chip, and have a twist to them, then beer batter fried, oh my are they good!)
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  • harry's Avatar
    09-16-2018, 07:55 AM
    Adel Abdul Mahdi sends a message to Haider Abadi .. This is her content 9/16/2018 The former leader of the Supreme Islamic Council, Adel Abdul-Mahdi, sent a letter to the outgoing Prime Minister, Haider Abadi. Abdul Mahdi said in a post on his own account in the social networking site "Facebook", that "because of the discussions to choose the three presidencies, including the prime minister, and the large number of meetings, and the lack of time, and to prevent confused and inaccurate interpretations - will stop the writing of the editorials, 2011, and I did not stop myself about one day .. and I shall to issue brief explanations, whenever necessary. He added , "I can not help this urgency , but I congratulate the President of the House of Representatives and the first deputy to obtained the confidence of the Council, and pending the election of the second deputy, and this is an important step to accelerate the process Formation of government ". "I salute the Prime Minister, Mr. Abadi, for his statement on 13/9/2018 and his positive attitude towards the peaceful transfer of power, and the positive and responsible positions and statements of many senior officials, political blocs and community forces, which express awareness of the sensitivity and circumstances of the stage, Correct the challenges and risks faced by the country. http://www.skypressiq.net/2018/9/16/%D8%B9%D8%A7%D8%AF%D9%84-%D8%B9%D8%A8%D8%AF-%D8%A7%D9%84%D9%85%D9%87%D8%AF%D9%8A-%D9%8A%D9%88%D8%AC%D9%87-%D8%B1%D8%B3%D8%A7%D9%84%D8%A9-%D8%A7%D9%84%D9%89-%D8%AD%D9%8A%D8%AF%D8%B1-%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%87%D8%B0%D8%A7-%D9%85%D8%B6%D9%85%D9%88%D9%86%D9%87%D8%A7
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  • harry's Avatar
    09-16-2018, 07:48 AM
    Central Bank: Iraq's fourth Arab ownership of US Treasury bonds 9/16/2018 The Central Bank of Iraq said on Sunday that its ownership of US Treasuries for June 2018 rose by 24.0 billion dollars compared to 14.3 billion dollars for the month of August 2017, an increase of 67.8%. The Central Bank said in a statement received by the Echo Agency, "Iraq ranked fourth among some oil countries in its ownership of US Treasury bonds, as Saudi Arabia ranked first in investment in US bonds and bonds worth 164.9 billion dollars for the month of June 2018 compared to 137.9 billion dollars for the month of August 2017 ". He added that "while the UAE came second with total investments amounted to 59.6 billion dollars compared to 55.9 billion dollars in 2017, and came in third place by 42.9 billion dollars." He added that "for the foreign currency reserve for Iraq, this bank confirms that" the other rose for the month of June 2018 to record $ 54 billion, compared to $ 46.2 billion for the month of August 2017, an increase rate of 16.9% and ranked Iraq ranked third among the Arab countries. He pointed out that "the Kingdom of Saudi Arabia ranked first as the foreign exchange reserves amounted to 508 billion dollars within the Arab countries, while the United Arab Emirates ranked second place by 171 billion dollars." http://pressiraq.net/p=164180
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  • harry's Avatar
    09-16-2018, 07:33 AM
    The debate over the life of the new Speaker of the House of Representatives has been settled 9/16/2018 Sumer News: The legal expert Tariq Harb, the controversy over the life of the new Speaker of the House of Representatives Mohamed Halbousi legally. "The constitution decided to mark the age of forty years for the President of the Republic in accordance with article 68 of the Constitution and the Constitution was set at the age of thirty-fifth of the Presidency of the Council of Ministers in accordance with Article 77 of the Constitution paragraph first and the age of the Deputy Minister in accordance with paragraph II of the same article, Since the law of the elections of the House of Representatives decided 30 years for the deputy, the age of the minister accordingly thirty years. "The constitution did not specify the age of the Speaker of the House of Representatives, as specified by the President of the Republic and the age of the Prime Minister and Ministers and where Article (55) of the Constitution decided to elect the Speaker of the House of Representatives and his two deputies only and the President and his two members of the House of Representatives and the conditions of the MP are the conditions of the candidate in the parliamentary elections, 30 years as stated in the election law, it means that the age of the Speaker of the Parliament and his deputies are the same conditions of membership in the Parliament specified in the Election Law No. (45) for the year 2013, which is 30 years of the decision of the Member of Parliament and that the Speaker of Parliament must be one of its members and stipulate what It is required in the member and not to specify a year in Constitution and any other law. " He added that "what is stated in Article (138) of the Constitution, it specified the conditions of the Presidency Council and not the President and members of the House of Representatives as the Presidency Council something and the House of Representatives something else and the article mentioned the Presidency Council in one session is the electoral cycle for 2006, where Jalal Talabani and Adel Abdul Mahdi And Tariq al-Hashemi constitute the Presidency Council, which completed the first session of the year 2006 to 2010 and ended and the work of the system of the President of the Republic in accordance with the said article. " He added that "Omar Halboussi approved the Constitution and the law does not even exceed seven years of age required because he was born in 1981 and required only 30 years." http://sumer.news/ar/news/29622/%D8%AD%D8%B3%D9%85-%D8%A7%D9%84%D8%AC%D8%AF%D9%84-%D8%A8%D8%B4%D8%A3%D9%86-%D8%B9%D9%85%D8%B1-%D8%B1%D8%A6%D9%8A%D8%B3-%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%86%D9%88%D8%A7%D8%A8-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF
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