The Ministry of Trade is at the moment coordinating with the Central Bank of Iraq, Ministry of Finance, and Ministry of Interior to receive and hand out the Iraqi Dinar bonus to everyone through the food ration agents prior to the end of Ramadan.
Looks like PM Maliki will be traveling to Bahrain soon, the next time he tours the Middle East in attempting to gain support for his security programs and to sign agreements with neighboring countries. Let’s hope the Iraqi PM Maliki comes back with some great agreements and plenty of US Dollars.
The Integrity Commission has made some progress in the conviction of the Former Electricity Minister, Ayham al-Samarrai in Iraq who was sentenced to two years in prison by the Iraqi corruption court. The former minister still faces additional charges in the corruption case. This is the same minister that holds dual American and Iraqi citizenship and he is one of more then 20 government officials from the previous Iraqi government administration to be charged and convicted.
Maybe soon the Integrity Commission and the Iraqi Corruption courts can apprehend and convict the other corrupt officials and put an end to the corruption within the Iraqi government so that Iraq can start to move forward.
And another thing this is good news because it shows that the Iraqi government is attempting to crack down on corrupt officials regardless if the crimes of corruption occurred in the past and long ago and especially with a previous regime. This will gain confidence with the Iraqi people that if you break the law you will be held accountable no matter who you are or which position you currently or had previously held.
The Oil Mafia must be worried by now seeing a conviction and prison sentence of the previous Ministry of Electricity to serve two years in prison and equally worried I am certain is one Private Iraqi banker.
A lot is happening this week as the Iraqi Parliament is no doubt breaking records at voting and passing the Federalism Bill and the maybe I think the Foreign investment law bill that everyone in the world is so anxious to see pass. The jury is still out on that one could be legit; the passing of the FIL, or it could be just one big ploy to convince people to run out and purchase more Iraqi Dinars which I am sure hundreds of people did either way.
To buy something on a rumor, that my loyal reader is insanely powerful and at the same time it’s very sad. Out here in the Middle East do you know what is more powerful then a stack of fresh newly minted Iraqi Dinars…..you guessed it …a bottle of Water.
The Iraqi Dinar Forums are buzzing again as usual with the same fury as before and those forum members can’t get enough torture and punishment and still hoping and praying for that RV. Hoping to profit on currency speculation, well here is a little secret, there will be no RV in 2006 or 2007 and that is straight from the powers to be on Haiffa Street and if you ever been to Baghdad you know what I am talking about.
Remember the State of Utah lists the buying of Iraqi Dinars as one of the top ten scams of 2005.