Iraqi armed forces announce progress in Mosul campaign, say district north of old city captured
Iraqi forces on Tuesday reported progress in the U.S.-backed campaign to dislodge Islamic State from Mosul, announcing the capture of a district just north the city’s historic center.
With the loss of the Zanjili neighborhood, the enclave still held by Islamic State in the northern Iraqi city has shrunk to two districts along the western banks of the Tigris river – the densely populated Old City center and the Medical City.
Iraqi government forces retook eastern Mosul in January and began a new push on May 27 to capture the remaining enclave, where up to 200,000 people are trapped.
The Mosul offensive started in October with air and ground support from a U.S.-led international coalition. It has taken much longer than expected as Islamic State is fighting in the middle of civilians, slowing the advance of the assailants.
The fall of Mosul would, in effect, mark the end of the Iraqi half of the “caliphate” declared in 2014 over parts of Iraq and Syria by Islamic State leader Abu Bakr al-Baghdadi, in a speech from a historic mosque in the old city.
In Syria, Kurdish forces backed by U.S.-air strikes are besieging Islamic State forces in the city of Raqqa, the militants’ de facto capital in that country.
About 800,000 people, more than a third of the pre-war population of Mosul, have already fled, seeking refuge either with friends and relatives or in camps.
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Citizens: Government banks circumvent lending regulations
Several citizens and employees in the government sector on Monday complained to banks that they were obliged to grant government loans to “circumvent” their rules and “obstruct” their granting, pointing out that there are many complications that prevent their dreams from obtaining a housing unit. While bankers stressed the lack of correct decision of the banking departments to merge employees and others in the category of “bank borrowing”. Meanwhile, the Parliamentary Finance Committee announced its intention to call the directors-general of the government banks to review the “shortcomings” in their performance, expressing their feeling of “embarrassment to citizens” due to the apparent confusion in the work of these banks.
“Banks are in charge of granting loans that clearly circumscribe the specific controls, obstruct them and present their interests to the public interest,” says Hossam Abbas. “The issue of borrowing is very slow and is faltering, although we hear daily updates on the terms of the banks. Announced through the media. ”
Abbas pointed out that “project loans offered by government banks, can make a quantum leap contribute to reduce the size of unemployment is very high in the country if it went right,” but that requires the deciphering puzzles and question marks that are currently plagued and hindered granting or Slow down, despite the approval of the Council of Ministers. ” He expressed surprise at “changing the instructions for the granting of financial loans several times over the past week,” wondering “when the parties settle on the final form of loans and begin to grant them to the eligible.”
For his part, an employee at the Ministry of Youth and Sports, Mustafa Adel, complained to Mada of “the complicated procedures and conditions that make it impossible for young people to obtain a government loan to realize their dream of buying a housing unit.” “The employee has several advantages, including salary and some large or medium potential, and the experience has proved,” said Majid Al-Souri, a banking expert. That some banks gave loans to senior state employees and in large amounts without a real payment. He promised that the government’s policy of granting loans to citizens “falls within the category of facilitating their affairs,” but added, “But the civil servant is crowding the non-employee on the matter.”
Rafidain Bank decided on March 19 to grant financial loans to support employees and citizens to buy residential units in investment projects that are completed by the National Investment Authority. The Rafidain Bank announced the amendment of the terms and conditions of granting loans announced by the bank last March. In turn, the Finance Committee of the House of Representatives described this continuous change in the terms and conditions of borrowing as “confusion and lack of clear vision” of the fiscal policy of the government banks.
“I really saw the performance of government bank managers, and many found their performance not good,” says Majida al-Tamimi, a member of the committee. “I see new instructions on loans and their terms. After two or three days, , And then show subsequent conditions, so the process of replacing the conditions in a daily manner indicates the process of confusion in the administrations of these banks and the lack of a clear vision to them, which led to confusion of citizens seeking to borrow bank. And on the seriousness of government banks, in lending to citizens or not, Tamimi considered that “it is not in the interest of the ordinary citizen, as much as in favor of those banks that seek to market advertising for themselves, through changing their instructions periodically,” indicating that “the Finance Committee Itself has become in an embarrassing situation for citizens seeking to borrow as a result of daily changes in the application forms for those banks.
“We noticed as a control body the existence of people who are granted loans outside the controls in the banks, which indicates the existence of a large administrative corruption in the work of its administration, according to the principle of nepotism and nepotism,” the Prime Minister to “address this issue in full” , Referring to “the financial committee to submit a lot of reports to the Integrity Commission on corruption in many government banks.”
Tamimi stressed that “the Finance Committee in the House of Representatives, will work after the month of Ramadan, to call the general managers of those banks, to know the extent of imbalance in their performance and what their plans in the management of banking,” stressing the importance of resolving this issue so that others will wake up when they find effective control On their work “. The Council of Ministers voted during its meeting on 30 May to lift the sponsor’s condition of granting loans exclusively for the Basmaya project and mortgage the housing units of the banks (Rafidain, Rashid and Commercial Bank).
The Rafidain Bank, on May 31 last, rejected the instructions issued by the Iraqi Council of Ministers on the cancellation of the sponsor of the complex loan procedures Basmaya.
On this subject, banking expert Majid Al-Souri commented that “there must be a separation between capital and banking management.” The bank is aware of the conditions it has set for the borrower, and if the cabinet promises to guarantee and provide guarantees to the banks, Guarantees and sponsors are through the Investment Authority through which the banks implement the decision.
“The right of government banks to reject the decision of the Council of Ministers, and in case of approval requires the government guarantee the rights of depositors in banks, to bear the subordination of the decision,” noting that “the failure of the borrower to a sponsor, the bank risk of not repay the amount borrowed , And here who is the guarantor?.
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‘Time not appropriate for holding Kurdistan referendum’ – UK ambassador
Time is not appropriate to hold Kurdistan Region’s referendum on independence, British ambassador to Iraq Frank Baker said on Tuesday, adding the decision to hold it has to be taken in collaboration with Iraq.
In a press statement, Baker noted that the British government’s position is clear as it supports any people’s right to self-determination, stressing that the Iraqi people have the same right.
The EU has stressed that the interests of the Iraqi people require that they remain in a unified Iraq, expressing reservations and caution about setting a date for the referendum on the independence of the Kurdistan region.
The Change (Gorran) Movement and Kurdistan Islamic Movement announced on Tuesday boycotting Kurdistan Region’s referendum on independence.
Kurdistan Regional Government has announced recently that it would vote on September 25 on whether to split from the rest of Iraq and form an independent nation.
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OPEC oil prices rise to half a dollar per barrel
Trend Press / Agencies The price of oil OPEC basket on Monday rose nearly half a dollar per barrel compared to its price last Friday.
“The OPEC cartel price reached 45:93 dollars a barrel compared to 45:48 dollars on Friday,” the OPEC Secretariat said Tuesday.
The OPEC basket is made up of desert mix (Algeria), Gerasol (Angola), Orient (Ecuador), Minas (Indonesia), Iran Heavy, Basra Light (Iraq) (Kuwait), Marban (United Arab Emirates) and Miri (Venezuela).
Read more: http://www.dinarupdates.com/showthread.php?50253-OPEC-oil-prices-rise-to-half-a-dollar-per-barrel
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Ports sign contract with Toyota for equipment processing
Minister of Transport Kazem Vajan Al-Yamami said on Monday that the General Company for Iraqi Ports has concluded a contract with Toyota Japan, which includes processing ground equipment, indicating that the Iraqi ports ranked first among the Iraqi companies that benefited from the Japanese loan projects.
Al-Hamami said in a statement that “the Iraqi Ports General Company has concluded a contract with the Japanese company Toyota, which includes ground equipment.” The contract was signed by the Iraqi ports director, Riyad Sawadi, and Toyota Kawashima.
“The signing of this contract comes within the second phase of the Japanese loan projects, where the company invested the first phase of the loan projects in the best way,” pointing out that “the Iraqi ports ranked first among the Iraqi companies that benefited from the Japanese loan projects, Its people to grant a second loan from the loan projects for the reconstruction of Iraqi ports for the second phase.
Includes Basra province, five commercial ports oldest port near the stronghold of the city center, and other ports is the port of Umm Qasr, which established in 1965, and the Ministry of Transport announced in 2010 split into the south and north of the two ports each with its own management, usually receives ships loaded materials imported for the account of the Ministry of Commerce, as witnessed in 1989, the completion of construction of the port of Khor Al-Zubair, which is the second generation ports project, and in 1976 was created Abu Flus port on the West Bank of the Shatt al-Arab within the district of Abu Fertile, while being slow implementation of preliminary projects for the construction of the port great FAO, which is expected to be about Accomplished one of the largest commercial ports in the region.
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BGG [kinda get the feeling that this is never gona happen and eventually they will go to the dollar.] With all the support and conversation with the IMF – WB – UN… that is not the posture they are preparing…everything they are (the above mentioned groups) projecting lately is the image of progress.
Read more: http://www.dinarupdates.com/observer/
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BGG (Dinar Guru) – Mosul is it… I have said all along…I would like to see what the news cycle looks like right after Mosul is done. I had some guy message me “why is Mosul taking so long“? They are dug in – they know they will die and have NOTHING TO LOSE…this may take just a bit..let’s all just take a breath and let this whole thing play out…and then… I also said – I want to get a feel for what the News Cycles look like after – for a week or two…this will be the tale of the tape. …sit back…and let them do their thing…and BTW – it’s not like they haven’t told us in so many ways – what they intend to do. They have – over and over and over and over.
Read more: http://www.dinarupdates.com/observer/
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Air force launches airstrikes on ISIS positions in Salahuddin’s Mutaibajah
Heavy shelling has targeted ISIS positions in Mutaibajah district, located on the borderline between Diyala and Salahuddin Governorates, a local official revealed on Tuesday.
In a press statement, Odai al-Khadran, mayor of al-Khalis town, said that the Iraqi air force has targeted more than ten of ISIS positions,
Early indications point out that the shelling resulted in killing and injuring many of the group’s terrorists as well as destroying the group’s hideouts and explosives’ depots.
On Monday, two of the so-called ‘Cubs of the Caliphate, who are children recruited by the terror group of ISIS, were killed in Mutaibajah district.
In April, Iraqi security forces have uncovered secret ISIS documents in Mutaibajah after inflicting heavy casualties on the terrorist group in Diyala.
A military operation to liberate Mutaibajah, was launched in April.
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Ports signed a contract with Toyota for processing equipment
Baghdad / Range Minister of Transport Kazem Vajan Al-Yamami said on Monday that the General Company for Iraqi Ports has concluded a contract with Toyota Japan, which includes processing ground equipment, indicating that the Iraqi ports ranked first among the Iraqi companies that benefited from the Japanese loan projects.
Al-Hamami said in a statement that “the Iraqi Ports General Company has concluded a contract with the Japanese company Toyota, which includes ground equipment.” The contract was signed by the Iraqi ports director, Riyad Sawadi, and Toyota Kawashima.
“The signing of this contract comes within the second phase of the Japanese loan projects, where the company invested the first phase of the loan projects in the best way,” pointing out that “the Iraqi ports ranked first among the Iraqi companies that benefited from the Japanese loan projects, Its people to grant a second loan from the loan projects for the reconstruction of Iraqi ports for the second phase.
The province of Basra has five commercial ports, the oldest of which is the port of the stronghold near the city center, and the other ports is the port of Umm Qasr, which was established in 1965. In 2010, the Ministry of Transport announced its division into two southern and northern ports, each with its own management. And in 1976 the port of Abu Flus was built on the West Bank of Shatt al-Arab in Abu al-Khasib district, while preliminary projects for the construction of port great FAO, which is expected to be about Accomplished one of the largest commercial ports in the region.
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We hold these truths to be self-evident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness. – Thomas Jefferson
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The Iraqi parliament welcomes the adoption of trade for the first time on two articles of supply from the local product
A member of the House of Representatives Hammam Hamoudi welcomed the adoption by the Ministry of Commerce on the local product in the provision of ration card items of “sugar and edible oil” for the first time since 2003, considering it an important step towards supporting the national product and stopping the external importer.
Hamoudi stressed the need to continue this step and expand it in order to contribute to the advancement of the processing of food “Iraqi” through the factories of the national stalled and the workers sincere and adapted to the needs of the citizen.
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Kaperoni (Dinar Guru) […is it better for Iraq to rebuild itself at the present rate or at a re- established rate?] …at this point and time, it does not matter what the exchange rate is regarding rebuilding…since the primary source of revenue is oil sales (95%) which is paid in dollars. And since the dinar is not globally convertible, Iraq pays for goods in dollars. So in that sense they are on the same playing field we are on in the US when we pay for goods. The real benefit comes when the CBI can begin to raise the value to offset inflationary pressure created by investors and investment along with meeting IMF Article VIII compliance. The result will eventually give the citizens a better life, greater purchasing power and most importantly the ability for the CBI to keep its dollars and pay in dinars.
Read more: http://www.dinarupdates.com/observer
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Cabinet votes to release salaries of Nineveh employees
[Asharq Al-Awsat] The Iraqi Council of Ministers voted during its weekly session on Tuesday to release the salaries of Nineveh province employees who have been found not to be linked to the organization.
A statement issued by the office of Prime Minister Haider al-Abbadi and told Ashqaf News that the vote on the release of salaries of employees of the province of Nineveh, who checked security by the security audit team of the Ministry of Interior or by the national security.
The Council also voted to approve the recommendation of the emergency meeting of the Civil Crisis Management Unit concerning the exclusion of the Ministry of Construction, Housing, Municipalities, Public Works and the Municipality of Baghdad in paragraph (3) of the Council of Ministers Resolution No. 329 of 2015, 2017 for purposes of water purification exclusively.
A position was also presented to prepare the employees who received their salaries in the liberated areas and to prepare those who did not receive their salaries with a statement of reasons.
The Council decided to form an operations room in the Ministry of Finance to resolve the problems that appear when the Ministry of Finance audit of payroll lists and continue its work after the official working hours until the completion of the task in the presence of directors of formations responsible for salaries from ministries whose salaries were delayed in Nineveh province.
The Council of Ministers instructed the Ministry of Health to complete the required numbers for grades (central appointments) and submit them to the Ministry of Finance and the Ministry of Finance to include the required allocations within the supplementary budget for 2017.
A vote was also made on the payment of dues to the truck drivers of the Ministry of Commerce, which contributes to support the security forces.
The vote on funding allocations of the Ministry of Education, and directing the Ministry of Finance to open documentary credit for the purchase of textbooks in the form of financial optimization and depending on the allocations approved by the Ministry.
The Council discussed the treatment of traffic jams in the province of Baghdad and was presented a study at the short, medium and long.
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BGG (Dinar Guru) – “Our economy is space. Monetary policy is an example” The…article is a VERY HARD translation – BUT IMHO FILLED with DEAD GIVE-AWAYS! …for those pouting about not being rich yet – this is one more log on the FIRE! What it means is – they are doing things (up until now) this economist doesn’t understand and can’t explain. Quotes: “…we urgently need a new economic philosophy that leads to generating development And to expand the supply and demand for local production in all its variants, especially in an important aspect of monetary policy is dealing with the value of the development of the dinar or the liberation of the value of the dinar...” “The liberalization or floating of the currency is not strange or innovative in the money market, it is a tool of the monetary policy…” BOOOOM…That’s all I have to say. That is a DIRECT narrative on the state of the currency value in Iraq. This was published yesterday. Cannot be anymore direct.
Read more: http://www.dinarupdates.com/observer
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Ministry of Planning shows real funding and the establishment of 3 important projects in Diwaniyah
A document issued by the Ministry of Planning revealed the reality of funding and the ratios of completion of three projects in the province of Diwaniyah.
The document entitled to the office of MP Ghazwan Faisal al-Shabani, a reference to your book No. 10324 on 16-5-2017, we show you the fate of three important strategic projects in Diwaniyah, noting the inclusion in the budget of 2017, the road (Diwaniyah – Afak al-Badir up to To 52 km, and the establishment of the intersection of the bridge bridge, and the stadium of Sabla in Diwaniya with a capacity of 30 thousand spectators, with a four-star hotel 75 rooms).
According to the document, the project of constructing the second corridor of the Diwaniyah-Afak al-Budair road, with a length of 57 km, is included in the budget of 2017 and costed 52 billion dinars, with an annual allocation of 2 billion dinars. And the project was funded by 4 billion dinars distributed 8% of the total deducted from the total salaries and allowances for all employees of the state and the public sector and retirees, and we confirm that the Ministry has twice requested to strengthen the financing of the project above, which was the case.
“The construction project (the intersection of the Republic of the bridge / Diwaniyah), the project is included within the budget of 2017 to the Ministry of Municipalities and Public Works, at a cost of 56 billion and 160 million dinars, and an annual allocation of 150 million dinars, the percentage of material achievement was 23.19%.
Which the country is undergoing, the project has not been funded because the rate of completion is low.
The project of designing and constructing stadiums capacity of 30 thousand spectators in four provinces, namely Diyala and Dhi Qar, Salah al-Din and Diwaniyah, the project is included within the budget of 2017, the Ministry of Youth and Sports, at a cost of 520 billion dinars, and an annual allocation of 15500 million dinars, The project is currently postponed due to the lack of financial allocations and the project is not a priority for the first funding, it has not been funded with adequate allocation to achieve, as well as the establishment of a four-star hotel capacity 75 rooms and the cost of the hotel 114 billion and 450 million dinars. The Ministry is working hard with the Ministry of Youth and Sports Work on the project (research orbit) and find a mechanism to finance it.
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Kaperoni (Dinar Guru) – Artile: “Experts: float the currency needs to be a productive economy and not Rieia (rentier)” Quote: “…to float the currency now in Iraq can not talk about that simple, as needed to advance measures…it could be done if the transformation of the Iraqi economy from a yield to productive…” This is actually a really good article because they state very clearly that under the current conditions they cannot float the dinar…and only once the market economy begins can they do so. So we continue to wait for Iraq to set the stage for investment. Pass the needed laws, get the dinar in compliance with the IMF, etc. to move to Article VIII. Only then will we see the dinar float and rise based on market forces. I am hopeful that yet this year we can see that happen.
Read more: http://www.dinarupdates.com/observer
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BGG (Dinar Guru) – I am very excited about the current state of things. I am very excited about the next short time frame… I think we are in an incredible window of time right now…and I do feel – if things advance as they have been – we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before. (keep in mind – we have been close before – the CBI had planned on 2013? sometime and put it off). According to the SIGR Report. We are close. REAL CLOSE.
Read more: http://www.dinarupdates.com/observer
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BGG (Dinar Guru) – Article: “Iraq offers compensation settlement and Kuwaiti debt against investment” Quote: “…the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.“. two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq? One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period. Really good news – entering final talks – it appears.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – Article: “ATMs for MasterCard card users” …it is fun to watch all the pieces be put in place for the economy to take off. Iraq is literally going from the stone age to the 21st century with technology in a few years.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – [What will happen to the other major currencies when the CBI RV’s the IQD/USD exchange rate? The countries using the EUR, the GBP, the CHF, the JPY, and the CNY all have international corporations invested in Iraqi oil with contracts based on today’s exchange rates. How will a radical upward IQD/USD RV (which effectively decreases the value of the USD against the IQD) affect the EUR/USD and the GBP/USD and the CHF/USD and the JPY/USD and the CNY/USD exchange rates? Will these other major global currencies also be devalued and what in your opinion will that do to an already stressed global economy?] This is a great question, because it opens up the floor to discuss how an RV is really a zero-sum game, mostly because we are talking about a fiat currency. When the FED prints more USD, we don’t actually gain that money. It just dilutes the dollar a little bit more. IQD, and an RV of the currency, works the same way, just on a global scale. My opinion is that almost every other currency will take a slight hit, and then rebound once the IQD rate stabilizes, and within about a month all currencies will be back to normal… except the IQD will be dramatically different than it was a month prior.
Read more: http://www.dinarupdates.com/observer/
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Iraqi Dinar/Dollar auction 06-13-17 (most recent listing)
Currency Auctions Announcement No. 3464
This daily currency auction was held in the Central Bank of Iraq on the 06-13-2017
| DETAILS | NOTES |
| Number of banks | 36 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 151,919,500 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 151,919,500 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1328.566 | 1327.902 |
| British pound | GBP | 1502.555 | 1501.804 |
| Canadian dollar | CAD | 891.231 | 890.785 |
| Swiss franc | CHF | 1223.646 | 1223.034 |
| Swedish krona | SEK | 135.851 | 135.784 |
| Norwegian krone | NOK | 139.872 | 139.802 |
| Danish krone | DKK | 178.650 | 178.560 |
| Japanese yen | JPY | 10.744 | 10.739 |
| Special Drawing Rights |
SDR | 1637.815 | 1636.996 |