August 2, 2015

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

Currency Exchange News

My ladies talks about the Central Bank.

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/a29moP2kKq8/my-ladies-talks-about-the-central-bank-321607

My Ladies Perhaps we are misleading people or using the improper verbiage or not getting our point across thoroughly…Neither [Guru] Nova or I said…anything that the Central Bank of Iraq isn’t saying. I don’t know and Nova doesn’t know if 1095 is going to be the exchange rate of the Iraqi dinar. What we said is the Central Bank of Iraq said they are selling bonds — their verbiage was “abroad” — at a rate of 1095 to 1 USD. They’re selling it in dinar. Again, this isn’t Nova and me saying these things. This is the CBI and ISX. This was formal, on their letterhead…Now, what Nova and I said is that the Central Bank of Iraq, the Government of Iraq, or anybody can’t sell bonds abroad, international, whatever word for outside the country, without having an exchange rate. Are Nova and I saying that 1095 is the new exchange rate for the Iraqi dinar? No. The reason this is happening is because the GOI has no money. The GOI is broke, and they can’t get dinar from the CBI. They have to create an event in order to raise the funds they need. The whole thing is they’ve turned the engine on, and it’s wonderful.

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World Bank gives Iraq two months to approve the anti-money laundering law

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/HEPS5pgSCC4/world-bank-gives-iraq-two-months-to-approve-the-anti-money-laundering-law-321509

detection for economic and investment commission parliamentary member Ahmed Kanani, Monday, for the granting of the World Bank and international financial institutions Other, Iraq until next October as the date for the adoption of anti-money laundering law.

He warned in a press statement Kanani News Agency Baghdad International / WAP / received a copy of it, “the consequences of the delay in the House of Representatives to pass anti-money laundering and terrorism financing law, which did not receive attention of the Presidium of the parliament.”

“The parliament has not yet paid the required importance to this vital law, which depends upon the continuation of economically connect Iraq with the outer perimeter and the focus of the Chamber of Deputies on the minor issues.”

He added that “Iraq would be included in the black list countries in handling the financial and economic transformation not unlike the enactment of this law, the measure would eliminate the purchasing power of the Iraqi dinar and put the Iraqi Central Bank in an awkward predicament makes him isolated from the world organization.”

And between Kanani said that “the time limit was only about two months and left them on the head of the House of Representatives that the law be included on the agenda for the nearest session, but will be responsible for the punitive economic measures that the world has to be taken against Iraq” .

LINK

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Parliamentary questioning the independence of the Central Bank

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/J4wOWvT5xSw/parliamentary-questioning-the-independence-of-the-central-bank-321040

Questioned the MP for the citizen parliamentary bloc Mohammed Allkash, Thursday, the independence of the central bank, describing those who say otherwise as “illusory.” said Allkash for “tomorrow Press,” that “cash the recent policy of the Central Bank prosthesis and waste of currency hard” He stressed “the need to establish an office to combat money laundering and the abolition of the currency auction sale, and strict controls on private banks.” He added that “the central bank is not independent, and says that it is the most important.”

LINK

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Iraq borrows $ 350 million from the World Bank

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/YvBG4yfsgNc/iraq-borrows-350-million-from-the-world-bank-320997

Baghdad / NINA /– The Ministry of Finance signed with the World Bank on a loan of $ 350 million.

Finance Minister Hoshyar Zebari told a news conference attended by Iraqi National News Agency / NINA / held in the ministry building on the sidelines of the signing of a contract with the representative of the World Bank’s Middle East Farid Belhaj, “The amount of World Bank loan will be dedicated for the reconstruction of the liberated areas from Daash control

LINK

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Bank of Canada cuts rates to 0.5% in surprise decision

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/4TSNTvGt6EQ/bank-of-canada-cuts-rates-to-0-5-in-surprise-decision-320945



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Barzani explains his relationship with Kurdistan International Bank

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/9KVRw4NI_1M/barzani-explains-his-relationship-with-kurdistan-international-bank-320876

Shafaq News / President of Kurdistan Regional Government (KRG) , Nechirvan Barzani denied on Monday, that Kurdistan International Bank belongs to him or that he has any share in it, adding that such news is an evidence of “ not respecting” the recipient.

A statement of the media secretary for the head of KRG, Sami al-Arkoshi received by Shafaq News, said that he denies any connection of Barzani to the bank from one hand or he is the owner of the bank nor having shares in it in any way.

The statement said as stated in the clarification issued by the Ministry of Finance and Economy in KRG and proved on evidence providing no state facilities or preserves for any private sector banks in the region, rejecting reports that talk about things that are baseless, which has been published by some media.

The statement denied reports that talked about the fact that Barazani is the owner of Kurdistan International Bank or that has shares in it, noting that the best proof of that is the clarification announced by the Ministry of Finance in this regard.

LINK

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Finance Minister meets with World Bank delegation

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/GfGz27WihPc/finance-minister-meets-with-world-bank-delegation-320821

Finance Minister Hoshyar Zebari with Mr. Robert existence Director of the Iraq Programme and the World Bank team of experts and specialists in the economy and implementation of development programs. Which included Mr. Auguste Kwame and Mr. Eric Aborn and Ms. Seibel Kolokza plans and programs of the bank to provide a loan to Iraq for humanitarian and development aid proposed.

It is scheduled that the World Bank is providing a loan of $ 1.7 billion, of which US $ billion as a policy loan financing for development ( DPL) And $ 350 million for reconstruction and stability to the liberated areas of Daash and $ 350 million for the project through Umm Qasr – Basra .
The government will take a series of reform measures in the number of facilities of the economy to avoid waste and save money.

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World Bank loan to help Iraq rebuild in areas retaken from ISIS

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/kt21CHO2MM8/world-bank-loan-to-help-iraq-rebuild-in-areas-retaken-from-isis-320815

Iraq said Sunday it had signed a $ 350 million loan package to finance emergency projects in territories reclaimed from the Islamic State group known as ISIS, or Daesh in Arabic.

The fund will be used for “emergency reconstruction of areas liberated from the Daesh terrorists,” the Iraqi finance ministry’s website said.

The agreement, signed in Baghdad by Iraqi Finance Minister Hoshyar Zebari and the World Bank’s director for the Middle East, Ferid Belhaj, is part of a larger package from the World Bank, aimed at developing infrastructure in Iraq.

“The loan comes in the framework of a technical and financial assistance from the World Bank that totals up to $ 1.7 billion in development plans in Iraq,” the ministry said.

In Washington in April, Zebari met with World Bank officials and called for $ 2 billion for the budget and for reconstruction in the liberated areas.

The war with ISIS and a drop in oil prices has placed a severe financial strain on Iraq, with its current budget running a $ 20 billion deficit.

The World Bank loan will presumably allow displaced Iraqis to return to homes destroyed by the war with ISIS.

Iraqi forces and the northern Kurdistan region’s Peshmerga forces pushed ISIS out of the predominantly Sunni Diyala province earlier this year, but poor public services due to conflict and years of negligence have discouraged internally displaced person (IDPs) from returning to their hometowns.

Locals accuse the Shiite-led government of deliberate neglect of the Sunni areas, while Baghdad claims lack of cash to restore services.

LINK

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The World Bank Wants In

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/iRMZ23ytpFI/the-world-bank-wants-in-320735

Tlm724:   Article – “Government intervention of the World Bank as a partner in the formulation of the budget in 2016″

Quote: “adding that” the World Bank agreed to grant the loan in exchange for conditions related to conduct real administrative and economic reforms in the government system,”

Now that is big! The World Bank says yeah we will loan you the money BUT we want in on formulating and implementing the economic plan! I like that very much! Very Happy.

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World Bank agrees to provide $350 million financial aid to Iraq

Source: Dinar Daddy’s Tidbits
URL: http://feedproxy.google.com/~r/115/BKGb/~3/8rU87QBAz8Y/world-bank-agrees-to-provide-350-million-financial-aid-to-iraq-320683

The World Bank announced on Thursday, that it agreed to provide financial aid worth $ 350 million to support rebuilding the infrastructure in Iraq, noting that the aid is a part of an extensive program implemented for five years in the provinces of Salahuddin and Diyali.

The World Bank said in a press statement followed by IraqiNews.com, “The World Bank has approved a package of financial aid worth $ 350 million to support rebuilding the infrastructure in Iraq and restoring the public services, as well as putting the economy on recovery in areas where conflict had receded” noting that, “The emergency operations in Iraq aims to respond to the crisis caused by the security situation and the sharp drop in world oil prices.”

The bank added, “The financial aid is a part of an extensive program that will be implemented for five years in the two affected provinces of Salahuddin and Diyali, along with seven cities; which are the cities of Tikrit, Dor, Dhuluiya, al-Alam, Jalawla and Saidiyah, and al-Azeem.”

LINK

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