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Tuesday, September 6, 2016

Dinar Updates Daily Chat Log for Tuesday 9/6/16 - Part 1

Dinar Updates Daily Chat Log

Part 1 - Featuring rcookie

larrykn says(6:25 AM):

Gm everyone :)

DHOLLA says(6:29 AM):


larrykn says to DHOLLA(6:32 AM):

gm :)

plowboy says(6:33 AM):

good morning, Larry

larrykn says to plowboy(6:34 AM):

gm how it going :)

larrykn says(6:35 AM):

Parliament to raise its Thursday for lack of quorum

09/06/2016 12:15

Long-Presse / Baghdad

He raised the presidency of the Iraqi Council of Representatives, on Tuesday, the 17th of the first legislative term of the legislative session for the year to the third day after tomorrow, Thursday, for lack of quorum.

The decision of the House of Representatives Niazi architecture Ihsanoglu, in an interview to the (long-Presse), "The House Speaker Salim al adjourning the 17 of the first legislative term of the third legislative year, scheduled for today, the day after tomorrow, Thursday."

He attributed Ihsanoglu, reasons to adjourn the meeting to a "lack of quorum".

He was scheduled to see the Iraqi parliament session on Tuesday to vote on two bills, notably the second amendment to the law on investment in the crude oil filter No. 64 for the year 2007, and to discuss the seven other laws.

The Presidency of the Council of Representatives of Iraq lifted, on Monday, the (29 August 2016), 16 of the legislative term of the first third legislative year the meeting to Tuesday, (the sixth of the month of September 2016), after the vote to cancel the integration of cement companies decision. The Law Commission of border crossings.

plowboy says(6:35 AM):

good, I'm up doing paper work in preparation for another work day. We had a big road trip visiting relatives over labor day

larrykn says(6:36 AM):

sounds like you had a good weekend thats good

magnetlady says(6:37 AM):

morning everyone

magnetlady says(6:37 AM):

Thanks larrykn for copying this morning.

rcookie says(6:39 AM):

Legislation «Basel» operating environment for banks

September 6, 2016

in the media center , articles comments on the legislation «Basel» operating environment for banks closed

I talked on several occasions, particularly in the words and lectures that I gave during Trasa Union of Arab Banks , About the need to take the privacy of Arab Banks conditions into account when applying the international legislation, including legislation «Basel 2 and 3».

We recognize that «the Basel Committee» subjected to international standards for the broad consultations with regulators and financial institutions before they are issued, however, it can not be for the Commission to accommodate all the comments and suggestions that link to it. Therefore, they usually give some flexibility on the application of standards both in terms of scale and in terms of deadlines.

We noticed one in particular through seminars and conferences held under the umbrella of the Union of Arab Banks or other authorities, that the fundamental aspect of the palaces is going on international legislation, including legislation «Basel», and limits their ability to accommodate the peculiarities and characteristics of countries where it is applied, which is that this legislation is not incorporation have explained and justified in theory in a comprehensive and integrated, ie they take the operational side rather than the conceptual and institutional side, what makes them linked to and affected by a specific operational environment is the environment that have been developed in which, while overlook other operating environments that will apply the properties. While the development of the conceptual and institutional framework for such legislation, making it the premises or guidelines are applied according to different banking environments.

Here we differentiate between legislation that are formulated at the level of each country, in this case should be subject to the operational environment which will be issued in, and between international legislation, which will be circulated to all countries, and here we must conceptual framework put her as guidelines In order take into account when applied to local operating environments for different countries when applied.

rcookie says(6:39 AM):

But if we look at the subject of banking legislation at the local level, we see that the banking environment is ultimately a social context consists of under control (banks), regulators (central banks), and the shareholders, depositors, creditors and the general public. Also, this environment is governed by a set of inputs such as technology and the human element of social and political, economic and cultural situation prevailing ... .etc.

For example, when the central bank to put any legislation on job banks, it inevitably will be affected by the technological infrastructure has in banks, banking and merit, and political and social situation, the economic and strategic objectives. These in turn are affected by the political and institutional structure of the country as a whole.

In addition, any defect or failure in one of the surrounding elements or some of them in turn will affect the banks of the legislation laid down an application by the central bank, and is likely to lead to a negative impact on another category, such as depositors in case of bank failures to remain able to pay He has liquidity.

Both the banks and the regulators look at the legislation and banking supervision in a different form the other. Banks consider legislation and interact with them from the perspective of maximizing profits, and increase the governor of lending and investment, and increase market share, and thus superiority over its competitors, and attract more deposits, and so on.

The priorities set by the executive departments of the banks to their goals you want to achieve from such legislation will vary depending on the culture of its Board of Directors and executive management, vision and philosophy albeit mostly involved in almost the same goals.

On the other hand, central banks look at the legislation, you develop from the perspective of the overall political and economic environment, the protection of the country, as well as to reassure the public to avoid panic and lack of confidence in the political and economic order.

Therefore, the regulatory bodies that put legislation should not be limited to the study of the achievement of the goals that look at it from the angle for even those banks expect to achieve as well. And not only that, but on the surrounding banks and that have already been mentioned, such as technological and human development and resources, social and political climate and the economic situation, in order to be successful provision of kits and its factors for the application of the legislation as much as possible operating environment familiarize central banks.

We conclude from the foregoing that the development of legislation at the local level should be seen as the operating environment, while at the international level should not focus on a particular operating environment, and should not restrict our consideration when placed on a set of equations and sporting rules and relationships and effectiveness to achieve a set of goals set by the authorities regulators, which could not be explained by one or two theories. It can not be justified on the back of only one officer, such as economic and operational characteristics of the environment, because it would be varying between one country and another.

When the supervisory authority in the country to apply international legislation such as the decisions of the «Basel» should be taught the application of this legislation in the context of the unique cultural features of the operating environment for banks in the country. In addition, the institutional characteristics within each country should be seriously considered by the banking supervisory authority, before the imposition of international legislation specifics in this country.

Adnan Ahmed Yousif

larrykn says to rcookie(6:41 AM):

gm sir

rcookie says(6:42 AM):

GM LARRY!!....

larrykn says to magnetlady(6:42 AM):

gm mags :)

larrykn says to magnetlady(6:42 AM):


magnetlady says(6:45 AM):

Thanks rcokie for bringing in the news this morning.

rcookie says(6:46 AM):


rcookie says to magnetlady(6:47 AM):


rcookie says(6:48 AM):

Central equip Rafidain and Rasheed dollars to expand sales outlets

09/06/2016 10:08

font size: Decrease font Enlarge font

The central bank, announced Tuesday, all outfitted with the Rafidain and Rasheed dollars to expand sales outlets.

The bank said in a statement that the processing of the Rafidain and Rasheed foreign currency ( US dollar) for the purpose of expanding cash sales outlets for the dollar. "

The bank said that " the citizens they would be able to get on the dollar from the banks through its branches in Baghdad and the Iraqi provinces."

rcookie says(6:50 AM):


larrykn says(6:50 AM):

Do not vote to withdraw confidence from Zebari today


Free event ... Except the Iraqi parliament agenda of the meeting, the day of a paragraph vote on the withdrawal of confidence from the finance minister, Hoshyar Zebari. And ensure business voting agenda on several laws, including, "second draft amendment to the law of private investment in refining crude oil, and the first reading of a bill Financial Management Act, and the first reading of the proposed first amendment to the law of the Iraqi Media Network No. 26 Act of 2015". A number of MPs have confirmed that on Tuesday, will vote on the withdrawal of confidence from Zebari, however, a source told the existence of problematic may stand without asking to vote. It seeks Supporters of Representatives to withdraw confidence to paragraph voting inclusion on the agenda today or next Thursday, as the other team exhibits works to block it and delaying it until after the Eid al-Adha holiday, especially with the naysayers believe that this may hinder the provision of Prime Minister Haider al-Abadi names of candidates for the ministries vacant, and fear linked to the selection in one basket, as usual in the previous sessions.

rcookie says(6:51 AM):


magnetlady says(6:51 AM):

rcookie correct me if I am thinking wrong here, but I thought the auctions were set up to get the USD off the streets?

magnetlady says(6:51 AM):

Why then are they restocking the banks with USD?

larrykn says(6:52 AM):

maybe this is why they didn't have a quorum today

rcookie says(6:55 AM):


larrykn says to rcookie(6:57 AM):

so they stopped the auctions for 91 days but are using the usd to pay bills, is this a prelude to them changing the rate

larrykn says to rcookie(6:59 AM):

the dinar is shrinking so they have to use the dollar now to pay bills , seems they can't do that for to long but I can see it as a transition period

rcookie says(6:59 AM):


rcookie says(7:02 AM):


rcookie says(7:02 AM):


larrykn says to rcookie(7:02 AM):

so they just froze that one day ?

larrykn says to rcookie(7:03 AM):

I've been wondering what that whole thing been about

rcookie says to larrykn(7:06 AM):


larrykn says to rcookie(7:07 AM):

ok ty

ol lar says(7:07 AM):

Isn't there a difference between CBI Auctions and Currency Auctions? I think the CBI auctions are bonds and they have a 91 day yeild, I believe it is a translation problem, but not sure

rcookie says to ol lar(7:08 AM):


rcookie says to ol lar(7:09 AM):


rcookie says(7:12 AM):


rcookie says(7:13 AM):

06-09-2016 03:00 PM Parliamentary Finance received the budget the House of Representatives and the Supreme Judicial Council and the Commission of Human Rights

Parliamentary Finance Committee announced the receipt of the House of Representatives budget of the Supreme Judicial Council and the Commission of Human Rights.

Said committee member Majda al-Tamimi 'The Finance Committee received the budget the House of Representatives and the Supreme Judicial Council and the Human Rights Commission, pointing out that the Commission is trying to reduce costs and disbursements to those circuits.

Tamimi added that there are sub-committees formed by the parliamentary Finance Committee is working on the legalization of the budgets of independent circles, indicating that each sub-committee will take it upon themselves to reducing its spending in those constituencies and proportional to the size of the maintenance of public money.

rcookie says(7:27 AM):

Hakim and al - Abadi confirm the move away from the political and personal controversies

06-09-2016 03:03 PM

Search Prime Minister Haider Abadi, head of the National Alliance and head of the Islamic Supreme Council of Iraq Ammar al-Hakim, who will play the role of the National Alliance in the coming period, offering congratulations for a wise choice for president of the alliance.

A statement from the office of Prime Minister Haider al-Abadi pointed out that al-Hakim and al-Abbadi stressed the need to build on the foundations of a sound and unification and activation of relations with national blocs.

It was also to discuss security, military, political and financial challenges facing the country and the importance of 'unite all efforts to support the government to overcome them and made them a long way.'

The two sides also discussed the liberation of the city of Mosul control Daesh terrorist organization.

rcookie says(7:31 AM):

06-09-2016 02:41 PM 80 terrorists killed foreign nationals leadership in the bombing of the Air Force in Anbar

80 Daesh leader of the terrorist gangs of different nationalities were killed aerial bombing in Anbar province.

A statement by the Ministry of Defense that 'based on the receipt of accurate information from the Directorate General of Intelligence and Security - Anbar, and in coordination with the airline Air Force, has been directing a successful airstrike against a camp of guerrilla terrorist Daesh resulted in the complete destruction of the camp and killed 80 terrorists of foreign nationals leadership, in the district based in Anbar province. "

In the same context heroine Air Force planes destroyed and after receiving accurate information from the Directorate above biggest store of weapons and ammunition in the district of Rawa in Anbar province, it was also destroyed a laboratory for the mining industry, wheels and bottles in the district of Rawa - gravel area '.

larrykn says(7:31 AM):

Iraq has 21 Sukhoi aircraft

Iraq, September 6, 2016

Baghdad – 

Analysis of satellite imagery from July confirmed that the Iraqi Air Force , in its armory, has 21 Su-25 Frogfoot attack jets at Al Rashid air base.

Iraqi pilots confirmed that Iraq has received 21 Su-25 jets, but they also claimed that there was no recent delivery and the last delivery was made to them in April earlier this year.

“Three of the Sukhois are out of service after meeting with accidents. So, as of now, only 18 of the jets are available for operations,” the pilots added.

Iraq’s Su-25s arrived in several batches beginning in 2014. On June 28, 2014, following ISIS capture of the main cities in Anbar province, the Iraqi Air Force urgently requested for two Su-25SMs from Russia, and the same was delivered promptly to Iraq.

Three more warplanes arrived in the next few days and was deployed at Ali Air Base, where technicians from the 121st Aircraft Repair Plant brought them to flying condition.

On July 1, 2014, three of the seven Su-25s were thus in operational condition with the Islamic Revolutionary Guards Corps Air and Space Force also arrived in Baghdad.

Two Iraqi and two Iranian pilots flew the former Iranian Su-25s from Mehrabad International Airport in Tehran to Ilam Airport in western Iran, and arriving on June 18. Iraqi pilots conducted several training flights before transiting to Al Rashid Air Base in Iraq.

The last four Iranian Su-25s — Su-25KM and Su-25UBKM arrived at Al Rashid air base on the following day.

(7:31 AM)morris was kicked out by morris!

rcookie says(7:32 AM):

Soon .. Iraq Receives bombs for aircraft "F16" and "T50" of the United States (Details)

06-09-2016 01:47 PM Hits: 610

Orbit News -

Experts said the tactical cell of the Ministry of Defense, Tuesday, closely recognizes Iraq bombs for aircraft 'F - 16' and 'T - 50' from the United States.

She said the cell in a press statement, that 'Iraq will receive the first batch of a deal massive gear meal of 7245 a bomb MK-82 free, out of nearly 24,000 bombs and missiles of the type mk-82 and mk-84 Maverick, bought from the United States, where the weight per 227 kg and Hacutea 87 kg and can carry around all of the F-16 and the 159 T - 50 '.

The statement said, it can be for each of the F-16 and T - 50 carrying 12 bombs of this type at once, pointing out that Iraq bought a large number of several guidance to be installed when needed bombed careful and not to be installed in case the bombing to destroy the headquarters of the whole.

Iraq and the United States had signed an agreement of intent required to provide financial facilities for Iraq Bmiliran and $ 700 million.

Under the agreement, these credit facilities will allow Iraqi security forces to postpone payments for the purchase of ammunition and maintenance of F - 16 aircraft, tanks M1 no one, and a grace period of one year, and the payment period lasts eight and a half years to pay dues military procurement.

Iraq has bought from the United States 36 aircraft (F - 16), received 10 aircraft are now up to.

rcookie says(7:35 AM):

The combustion of the main building of the funds "Daesh" central Mosul

Tuesday 6 September 2016 13:55

Alsumaria News / Nineveh

According to a local source in Nineveh province, on Tuesday, that the main building of the private financial matters for the organization "Daesh" devoured a huge fire in downtown Mosul district center, as he pointed to "financial officer" and five of his associates arrested on the fire that consumed the backdrop of filing militants regulation salaries.

The source said in an interview with Alsumaria's News, "The wildfire charges main building of the financial regulation Daesh central Mosul, which consists of a three-storey building," noting that "the fire was accompanied by explosions inside the building due to the extension of the fire to a warehouse containing munitions and ammunition."

The source, who asked not to be named, said: "detachments combat of Daesh wearing black uniforms and masked regulation financial officer and five of his associates arrested over the incident," adding that "the building was dedicated to the management of militants Daesh salaries file in the nine main breakers."

The source explained that "the fire gutted all the binders for the names of its fighters and their salaries," pointing out that "this incident is the first of its kind in Mosul."

It is noteworthy that the Iraqi security forces are engaged in military operations in Nineveh province, to release it from the control of the organization "Daesh," which income since June 2014, where those forces are making progress on the ground and managed to free a large number of areas and villages in the province.

larrykn says(7:35 AM):

Bayati: Eid, Hajj and impeach Zebari because disabling the Parliament session

2016-09-06 12:42

Special balance news

Detect leadership in the State of law Coalition Jassim Al Bayati, Tuesday, the reasons for the failure of the Parliament to hold its scheduled today. While he cannot be held next Thursday.

Mowaffaq, l/balance of news, he "had expected postpone today's Parliament session, due to the number of deputies to travel abroad on the occasion of Eid is near."

He added, that "other reason is home more than 25 to 30 deputies to the sacred House of Allaah pilgrimage," dyed "the third reason that over 70% of Kurds did not attend the hearing to prevent passing a paragraph vote on the dismissal of Finance Minister Hoshyar Zebari, and other blocks agreement on non-attendance for the same reason.

He stressed that "the meeting cannot be held next Thursday for the same reasons."

It is said that the Parliament decided on Tuesday to postpone its next Thursday for lack of quorum

rcookie says(7:36 AM):


rcookie says(7:42 AM):

raq: motionless to postpone the vote on the dismissal Zebari

Baghdad Aktham Saifuddin

September 6, 2016

Kurdish officials continue efforts to prevent a vote on the dismissal of Iraqi Finance Minister, Hoshyar Zebari , after parliament voted last week not to Bojobth conviction on corruption files that were raised against him.

A parliamentary source said, for "the new Arab", "The House of Representatives of the Kurds are seeking to convince the Presidency and other blocs to postpone the vote on the dismissal Zebari," noting that they were "convinced many MPs, especially from the Bloc coalition forces in their opinion."

The source pointed out that "the Kurds are trying to gain time by postponing the vote to the session after the Eid, to win during the Eid holiday and exploited to settle the issue," adding that they "are preparing dismissal Zebari targeted them," likely "possibility persuade the Kurds to the parliament to postpone the vote."

For its part, the MP stressed on "the Kurdistan Alliance," Dry longings, collecting signatures for re-vote on the conviction of Parliament answers Zebari during today's meeting, explaining, during her speech for "new Arab", "The signatures will be presented at today's meeting to the Presidency of the Parliament," indicating that "the rules of procedure of Parliament stipulated that the Council determines the conviction or lack of conviction answers questioned the duration of not less than seven days, it is possible to be more of them, and can not be less."

In turn, the Ministry of Finance has denied talk of expenditure contained in the interrogation of its minister Zebari questioned by the Attorney Haitham al-Jubouri, hearing health, accusing the latter of "mislead Parliament and public opinion."

Kurds are trying to gain time by postponing the vote to the session after the Eid

The ministry said in a press statement, said that "the report by the Attorney-Jubouri during interrogation is inaccurate information, included misleading to members of parliament and public opinion," indicating that "deliberately through which false and misleading information, knowing that he was not dodging any written questions by rules interrogation fundamentalism as claimed. "

The "non-payment of any amount of a chartered plane at all, and that the invitation of its Minister on attending the Manama Dialogue conference in Bahrain in 2014 was invited fundamentalist directed to Zebari as finance minister, also did not spend any dinars to rent a residence for anyone from individuals Minister's Office or its affiliates or to the ministry.

The ministry pointed out that "the accounts and records of the Ministry of Finance open to anyone who wants to view them involved, knowing that all the accounts and the balance of the monthly financial review fundamentalist audited by the BSA."

It referred to the Parliament for its half-hour for lack of a quorum, because of the mobility conducted by the Kurds of Representatives with other blocs to convince them about the postponement of the vote.

subgirl says(8:00 AM):

cya all later today, have to go to work now :)

larrykn says to subgirl(8:00 AM):

have a good day :)

subgirl says(8:00 AM):

thanks larry :)

subgirl says(8:01 AM):

you too... thanks for copying..

larrykn says to subgirl(8:01 AM):

yw :)

larrykn says(8:03 AM):

Allawi: Keywords ineligible for the management of the Central Bank of Iraq

By Adnan - September 5.20160277

Treasures Media / Baghdad

Confirmed by former Secretary of Communications Mohammed Tawfiq Allawi, said Governor of the Central Bank of Iraq on the Keywords, does not know how the bank manages under these tough economic conditions, noting that "Iraq is moving toward a serious economic cliff.

Allawi said in a televised interview with the satellite channel of the Tigris and followed the "Treasures of the Media" that, by holding the economic file in Iraq is Mahliyn people, explaining that "these primitive ideas have delivered the Iraq to the economic level of the shallow and the next worst.

Allawi added, "has asked the Governor of the Central Bank" on the Keywords "in an earlier time, if it was not able to respond to the economic plight of Iraq, he left to work for this economic detailed important, entrusting the job to people who are competent, have the ability to draw a successful financial and economic policy to meet the challenges that gripped the country.

Allawi pointed out that "the central bank governor is not qualified to lead this great post, pointing out that" is in a valley, fiscal and monetary policy in the last ravine.

Woodywoodpecker says(8:03 AM):

make some cavities

larrykn says(8:04 AM):

Chihod reveals next steps of reform front

September 6, 2016


A member of the Front, Reform MP Mohammad Chihod on the steps being pursued by the reform front, as pointed out that questioning ministers will be one of the priorities of those steps.

Chihod said in a statement to the Iraqi network transmission (IBN) on Tuesday that the reform front moving toward activating the role of the House of Representatives and the enactment of important laws, which was parked on the shelves according to the recipe.

He added that the front heading to activate the oversight role of Parliament, stressing that the main steps that go towards the front include meeting members of the Front for the purpose of determining the next tracks toward questioning ministers and their ministries were full of corruption

larrykn says(8:07 AM):

Ideal Payments Launches Mobile App in Iraq

September 6, 2016

Banking Technology reports that Ideal Payments has teamed with Taif Money Transfer to launch Iraq’s “first” mobile payments app – Taif eWallet.

The platform aims to create a “holistic payments ecosystem” used by multiple agents in the economy including retail merchants, ecommerce platforms, private companies, and government institutions.

Ideal Payments’ local partner, Taif Money Transfer, will operate the service, using its existing agent network across Iraq.

Ideal Payments says its role is to select and customise the appropriate technology, prepare the business plan and execute the strategy to spread the service in Iraq. The technology is powered by Monniz, a Belgian mobile money service provider.

Ideal Payments says it was set up and is run by a team with experience from both global and local financial services, including banks such as Goldman Sachs and the Trade Bank of Iraq (TBI).

According to Ideal Payments, Iraq, a country of 35 million inhabitants, remains a cash based society at large with a significant unbanked population. Bank account penetration is below 10 percent and debit card penetration below 3 percent.

The firm says that issues such as “inaccessibility, inefficiency, and unaffordability deter customers from using traditional financial services”.

It adds: “Trust also remains a key issue for the Iraqi banking sector, which customers hold in low regard following decades of mismanagement and corruption.”

larrykn says(8:09 AM):

Iraq increases the sale of Basrah Light crude price to Asia next month

2016/9/6 14:53

[Where - Baghdad]

He said oil marketing company SOMO] it has raised the official selling price of Basrah light crude shipments to Asia price in October to reach an average price of Dubai and Oman Khami minus $ 1.40, compared with a discount of $ 2.30 a barrel in September.

And it was reduced official selling price of Basra light crude to Europe in October to the price of Brent crude of minus 4.70 dollars a barrel, compared with a discount of $ 3.95 a barrel.

larrykn says(8:10 AM):

Central Bank sales in Basra today.

2016/6/9 14:47

{Baghdad: Euphrates News}

Central Bank sales, Tuesday, in Basra to sell foreign currency, reached 135 million dollars, down 127 million yesterday.

The Central Bank said in a statement received {Euphrates news} copy of it, that "the amount sold today reached 135 million, and 228 000, $ 418, 1182 dinars exchange rate of the dollar, with the participation of 33 banks and 15 financial transfer company."

"The sale transfers to bank accounts abroad be priced at $ 1190 each DT either cash sale price is priced at $ 1182 dinars."

"The size of remittance payments and credits totaled 93 million, 260 000, and 463 dollars, while quantity sold 27 million cash, 910 thousand dollars."

He was General Manager of the Bank's credit and banking control Ihsan HostMonster yasiri, said last Sunday, in a press statement that "the Iraqi Central Bank reserves of foreign currency amounting up to 50 billion dollars and is very natural with a country three years ago to a large fiscal deficit in the country", noting that "the foreign reserves are according to the International Monetary Fund on the security side."

He said that "more than 90% of Central Bank sales during the documentary used internationally and dependent either direct sales through the window of the sale of foreign currency to sustain the economy and pump the dollar for trade".

Continue to Part 2



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