The central bank issued new instructions to regulate the process of selling the dollar




Iraqi Central Bank building in central Baghdad Imaging (Mahmoud Raouf)


Author: AR, ASJ
Editor: AR
17.1.2017 10:35
Number of Views: 645


Long-Presse / Baghdad

Revealed Association of private banks, on Tuesday, the Central Bank of Iraq to issue new instructions to regulate the process of selling the dollar to cover the imports of the private sector, while confirming that the directive was intended to maintain the dinar’s exchange rate against the dollar and the fight against money laundering and maintaining foreign currency.

The Association of private banks in a statement received (range Press) copy of it, “the Iraqi Central Bank, has issued new instructions to regulate the sale of dollar transactions for the purposes of coverage of imports by the private sector,” indicating that “instruction regarding the organization of the dollar insurance operations for the purposes of issuing money orders and opening letters of credit trends that will make Iraqi banks, which mediates between the importer and the central bank directly. “

She Association in its statement that “the instruction stresses the need to achieve the main objective of the Central Bank, a knowledge of the ultimate beneficiary and the preservation of hard currency for Iraq through the optimal use in order to serve the national economy and sustainable development,” noting that “the instruction came after the classification of the central bank for banks to build groups the efficiency of the units compliance and anti-money laundering and risk management available in banks and liquidity. “

The Association that “the new regulations flowing toward the central goals of the Central Bank and Gaza Strip Iraqi banking to maintain the dinar’s exchange rate against the dollar and stimulate the banks to work with high transparency and a large commitment to rules and regulations to comply with the law of money laundering and terrorism financing No. 39 of 2015”.

She drew Association to “its commitment to the application of the Central Bank instructions and urges banks to increase their role in achieving economic development and maintain the dollar’s exchange rate would contribute to restoring confidence in the banking sector during the current year and post Daesh,” calling operating banks in Iraq to “continued cooperation with the central bank and the fulfillment of all the requirements set forth in the instructions and to contribute to the success of his future plans that are in the national economy. “

Barzani meets with Biden on the sidelines of the Davos economic forum

By Roudao two hours ago

An earlier meeting between Barzani and Biden – archive

Roudao- Davos 
meet President of the Kurdistan region, Massoud Barzani, with US Vice President Joe Biden and a number of European officials, on the sidelines of the Davos Economic Forum. 
And kicks off the Davos Economic Forum, Tuesday, January 17, 2017 with a speech founder of Davos, Klaus Schwab, the forum will discuss the first day of the fourth industrial revolution. 
The delegate Roudao Media Network to Davos, Ala Shali, he is scheduled to meet with Barzani at 15:40 pm local time , US Vice President, Joe Biden, will also meet with Norwegian Foreign Minister afterwards. 
And meet the President of the Kurdistan Region, and also with foreign policy chief of the European Union, Vیdrیکa Mugیrیna, Dutch Mark Rutte, and a number of world leaders and the Prime Minister. 
And include the agenda of the first day of the forum , which will run for three days, organizing a number of seminars dealing with the fourth industrial revolution with the participation of experts, economists and traders.
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Spokesman Massoud Barzani: President decided to leave his post


Posted: 16.01.2017 | 19:40 GMT | Arab World News

Spokesman Massoud Barzani: President decided to leave his post

Iraqi Kurdistan,Massoud Barzani,headof

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Kifah Mahmoud announced, media adviser to the president of Iraqi Kurdistan, Massoud Barzani, and his spokesman, the president decided to leave his post in order to find a compromise formula to end the political crisis in the country.

The news agency “Sputnik” Russian Mahmoud as saying, in a statement to her on Monday January 16, said that “President Barzani decided to leave the presidency of the region, and the progress of political initiative to heal the rift and resolve outstanding differences between the political life of the components in the region, that the parties comply on the other candidate for the presidency. “

He explained the struggle, according to the agency, the initiative put forward by the President, confirmed his support for the figure that matches the parties, to take over the reins of power, the initiative also included the dismissal of the government and the appointment of a new speaker.

A spokesman for the President of Iraqi Kurdistan and Barzani stressed that threw the ball in the court of the parties, and there are consultations between all parties, may reach tangible results in the next few days.

The Massoud Barzani, who is 70 years old, takes over as head of the territory of Iraq Cardsan autonomy since 2005, and is considered the leader of the Kurds in Iraq since he became head of the Kurdistan Democratic Party in 1979 after the death of his father, Mustafa Barzani.

Source: Sputnik


US to build biggest consulate building in Erbil


By Rudaw 39 minutes ago

US to build biggest consulate building in Erbil
The new US consulate building will cost $600 million, and will be built on 200,000 square meters on Erbil-Shaqlawa Road.
ERBIL, Kurdistan Region – In a sign of long-term commitment to its already thriving diplomatic mission in the Kurdistan Region, the US will soon lay the groundwork for its biggest consulate complex, Erbil, reiterating the strategic importance of the region for Washington.

The new US consulate building will cost $600 million, and will be built on 200,000 square meters on Erbil-Shaqlawa Road. The Erbil complex will be constructed by four American and some local companies and will finish in four years. The building will be bigger than the US’s second biggest embassy building which is in Yerevan, Armenia.

“We signed the project for the US Consulate General building in Erbil when Matthias Mitman was the Consul,” Falah Mustafa, head of the Kurdistan Regional Government’s (KRG) Foreign Relations Office, said. “The US relations with the Kurdistan Region are not new. The US has had a significant role in the making of today’s Kurdistan since 1991.”

The US initially opened a diplomatic office in Erbil in February 2007, which it later upgraded to a consulate general in 2011. US President Barack Obama declared in his first speech on the emergence of the Islamic State (ISIS) that Erbil was a “red line” for Washington. This show of support was decisive in preventing the ISIS from reaching the Kurdish capital.

The US consulate general building in Erbil is second only to the US Embassy’s building in Baghdad which is built on 420,000 square-meters. The US embassy in Baghdad was built in 2009 and is its biggest mission compound in the world which cost the country $750 million, a complex the size of the Vatican.

“The US moved forward to repel the ISIS attacks and showed its commitment to protect the Kurdistan Region when Erbil was under ISIS threat in 2014,” Mustafa added.

The US looked at the Kurdistan Region differently prior to the emergence of the ISIS threat. Mustafa expressed he believed this positive support from the US to Erbil will continue.

“Erbil is now a red line for the US because they believe in the future of Kurdistan. Relations between the Kurds and the US were not forged overnight,” Mustafa said.

The US has had a diplomatic and military presence in Erbil. Washington set up a military base in Kurdistan following the emergence of the ISIS threat.

“The US military base will remain here as long as the threat of terror remains and this threat will not vanish in a matter of days,” Mustafa explained.

There are currently 30 consulates, six honorary consulates, and six foreign trade offices in Erbil. The latest to open in Kurdistan was the Japanese consulate on Jan. 11.

The existence of the various different diplomatic missions in Erbil has upset neighboring Iran. A commander from the Iranian Revolutionary Guard Corps (IRGC) recently expressed his concerns about the increasing number of foreign representations in the Kurdistan Region, claiming that they were aimed at destabilizing the security of Iran.

“Opening more than 30 consulates is not normal,” Iranian Brigadier General Mohammad Hossein Rajabi criticized. Most of these consulates are used for espionage activities.”

“We hope that states do not take the problems or struggles they might have to the Kurdistan Region,” Mustafa said in response to the IRGC commander. “We find it strange for a neighboring country to meddle in our affairs and set paths for us. We respect relations with our neighbors. We hope for mutual relations and understanding with our neighbors.

“We are not a threat to any country. Our past shows this. We are open in doing politics and will not become part of any regional or international struggle.”

The United States’ biggest consulate building in the world is currently in the city of Ciudad Juarez in Mexico. It is a four-story building that had a construction cost of $66 million. The mission was opened in 2008 and has 300 employees.

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2017 budget will enter into force after publication in the Official Gazette


History of edits:: 01/16/2017 23:3135 visits readable
[Oan- Baghdad]
financial budget for the general federal state for the year 2017 came into force after the newspaper published theofficial proceedings on Sunday in the 4430 edition.
He was President Fuad Masum, ratified on 10 January 2017 on the current budget law, after it passed the House on the seventh of December last.
The balance value of more than 79 trillion dinars [$ 68 billion] and the inability of the total $ 21 billion.
And select the price of a barrel of oil of 42 dollars the law, and the rate of export of a daily rate of three million and 750 thousand barrels, including 250 thousand from the Kurdistan region of fields, and 300 thousand from the Kirkuk fields.



IMF expects global economic activity accelerated in 2017 and 2018


History of edits:: 01/16/2017 20:5119 visits readable
[Oan- up]
International Monetary Fund predicted that the accelerating global economic activity, particularly in the advanced economies and a group of emerging markets and developing economies in the years 2017 and 2018.
The IMF said in a report developments in the global economy issued on Monday that these expectations come under a state of ambiguity and uncertainty related to fiscal policy orientations US and its impact on the global economy.
He added that there is an improvement to the expectations of the developed economies in the years 2017 and 2018 on the back of improvement in the second half of 2016 as well as expectations of expansion in the application of fiscal stimulus policies in the United States.
The fund said in his report that the outlook for growth has worsened marginally for the countries of emerging markets and developing economies where the difficult financial conditions.
He said that in the near term was adjusted growth forecasts for China due to the expected stimulus policy, but the policy has been revised for several other major economies , including India, Brazil and Mexico.
He said the latest forecasts WEO also include the stability of oil prices after the Organization of Petroleum Exporting Countries members of the agreement [OPEC] and a number of other major producers to limit supply.
The IMF kept its forecast for global economic growth unchanged at a rate of 3 percent in the third quarter of 2016.
The fund is likely that the developed economies are growing at a rate of 1.9 percent and 2 percent in 2017 and 2018, respectively , compared with expectations in October last year.

The central bank signed an agreement with a specialized international institution in the field of training and consulting


History of edits:: 01/16/2017 19:3639 visits readable

{Baghdad: Euphrates News} occurred Governor of the Central Bank of Iraq, a Memorandum of Understanding with one specializing in the field of training and consulting international institutions.
According to a statement of the Central Bank and the agency {Euphrates News} received a copy of it, that ” the agreement came for the purpose of supporting thecentral bank ‘s efforts to combat money laundering and terrorist financing and consulting for compliance and risk management and the development of capabilities activities in this field.”
The statement continued that “those events and activities will be funded by a group of donor countries in the framework of the Convention” .anthy