July 2007Monthly Archives

A sunni cleric is giving this warning to whom ever votes on the Oil Law.

“Whoever does so will be exposed to God’s wrath and will have committed the crime of collaboration with the enemy,”

Iraq’s parliament is likely to delay the start of its debate on a newly revised oil revenue-sharing law after both Kurds and Sunnis complained they have not reviewed it.
The Iraqi Cabinet approved the measure unanimously on Tuesday, and the government had said parliament would begin debate on the law Wednesday.

This is an old article and fortunately for all of you the url is still good. It is a Newsweek article quoting the Deputy Governor of Iraq’s Central Bank stating it’s illegal to export the dinar.
According to Ahmed Muhammad, a deputy governor of Iraq’s central bank, roughly half the 4.5 trillion new dinars have been removed from domestic circulation, either stashed away at home or smuggled out for sale abroad. Iraqi officials say it’s illegal to export the dinar, but it’s quoted on exchanges as far afield as Pakistan.

On July 1st I had posted an articled called The Iraqi currency RV is it for Real?
At times after posting thought provoking and enlightening articles I do get occasional comments from people who are connected some how in this Iraq dinar, ISX arena. All comments are welcomed as I do not censor anyone’s comments except for the removal of obscenities.
It is the reason I went to an approval based program. Your comments will not be posted immediately only after been approved.
A commenter by the name of Bob had a great comment and I thought I would post it here for all you Warka fans. Below is Bob’s comments followed by my comments with help from I must admit from the legal team at the Baby Biltmore.

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Prime Minister Nouri al-Maliki’s Cabinet has approved a draft of a key oil law, and the Iraqi parliament was expected to begin debate on the measure Wednesday, an official said.
Government spokesman Ali al-Dabbagh said the parliament would open debate on the law, which the U.S. is pressing Iraq to pass to boost reconciliation between the country’s Sunnis and Shiites.

Still up in the air who will control Iraq’s existing oil fields.

“We hope that very soon, definitely within coming months, one or two months from now,”

Iraq has increased official petrol prices by around 15 per cent, an Iraqi official said yesterday, delivering the second hike this year to keep promises made to the International Monetary Fund.

After reading the usual web sites that are of interest each morning I came across a posting by one of those heavy hitters on a dinar forum. I use the words “Heavy Hitter” lightly as it means copying and pasting news articles to keep people from leaving the dinar forum and coming back for more. Even if it means removing content from the American Contractor’s Blog and also calling it there own.

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As everyone is watching Iraq, another country has placed restrictions on foreign currencies. The Iraqi dinar has less restriction it can be converted to any currency meaning fully convertible however, with one caveat it can only be done inside Iraq.
Sudan has a problem with capital flight with the people creating other avenues to remove the foreign currency away from the visibility of the banking sector. The Central Bank of Sudan is cracking down. I am sure Dr. Shabibi of the CBI is taking note.

The Iraq 2007 Banking, Finance and Development Conference was just recently held in London and apparently State Owned enterprises are ramping up to be sold to private enterprises who wish to develop these business in Iraq.

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