Category: Development Fund For Iraq

No Date Or Rate But Perhaps A Tentative Time Line

    Post From KTFA By Bucking Horse  on April 5th, 2014, Something New ???

    Iraq takes deliver of its money from US, after months of lifting of Chapter 7

    03 Apr 2014

    After lifting of Chapter 7 sanctions, Iraq is now finally ready to lift the American protection on the Iraqi money deposited in the United States of America.

This step was welcomed by many but also stirred fear as it might be a qualitative step in the financial Iraqi sector. Will this money become an easy target to some authorities under the pretext of debt?
~~~

    On 20th May, 2014, the American protection imposed on the Iraqi money deposited in “Development Fund for Iraq” will be lifted and the responsibility will be transferred to the Central Bank of Iraq; after the Chapter 7 sanctions have been lifted.

However, many fear that “gold digging” countries and traders would file lawsuits before an international court on the grounds that the previous regime owes them money.

    Former governor of Central Bank of Iraq, Mathhar Mohammad Saleh said, “Development Fund for Iraq is financed by oil revenues deposited in the Federal Reserve Bank and 5% of the amount would be deducted as indemnification for Kuwait according to Chapter 7 sanction imposed by the United Nations on Iraq.”

 He added, “Ever since the Central Bank of Iraq has taken responsibility of the Development Fund for Iraq in 2010; it has become unprotected which pushed Iraq to place it again under the American protection.”

    He further noted, “Iraq agreed with the USA to place this money under the American protection for a full year at the time, i.e. until June 2011 after the sanctions were lifted on December 15, 2010 in virtue of resolution 1956; placing Development Fund for Iraq under the bank’s management.”

    “This protection extension is the last of its kind”, mentioned Saleh; clarifying that “the protection of the Iraqi money deposited in the American banks is normal even if it wasn’t postpones especially that the Central Bank of Iraq is an independent entity and the money it manages is not used in speculations or trade”.

    Central Bank of Iraq’s Acting Governor Abdul Bassit Turky puts fears of wasting away Iraqi money in the US to rest by confirming that “American’s protection of Iraqi money will end on the 22nd of May, 2014.”

“The Iraqi money deposited in the US has been under its protection for 2 years”, clarified Turky pointing out that “people’s claim to the previous regime’s debts is not a threat to Iraqi resources.”

    “The important issue that Iraq was facing with the Kuwaiti airlines has been solved.

Consequently the issues that might be raised now are far fewer than those possibly raised 5 years ago”, added Turky.

“Now, Iraq can defend its resources with the help of lawyers and international councilors and advisors”, he stressed.

http://www.iraqdirectory.com/en/2014/04/03/26823/iraq-takes-deliver-of-its-money-from-us-after-months-of-lifting-of-chapter-7.aspx

    Updated 03 Apr 2014 | Soruce: Al Sumaria

    So it looks like the CBI doesnt want our protection anymore !!   GO RV !!!!

Post by sluggo » April 5th, 2014, 7:35 am  •  [Post 84]

Looks like this could be more hope that Iraq will indeed “lift the 3 zeros in June 2014″ June 30th in not that far away. And while over the last 4 1/2 years that I’ve been in this investment, there have been many occasions where the words “they can’t wait that long have been spoken and written”, we are still waiting.

While Intel and many articles, both diversionary and repeated have been published, the job will not be “done” until it shows on the CBI site.

Frank tells us to be strong then stronger. I on the other hand have taken this advice to heart and for the last number of months follow this forum with “alert indifference” to date, rate, and windows, if I’m blessed enough to be on this side of glory when the posting is made on the CBI then I will greatly praise God for bringing this to fruition.

When all is said and done we absolutely know that outside of a very small circle of folks who are working on the project, no one knows the date and rate but perhaps a tentative time line.

After months of lifting the CH VII; CBI prepares to take over Iraq’s assets in America

after the passage of months out of Iraq from Chapter VII, is preparing the central bank eventually to raise U. S. protection imposed on the Iraqi funds deposited in the United States, step has been welcomed and raised fears at the same time about the possibility of achieving a quantum leap in the process of construction or damage the money of the Iraqi Foreign Will it be the money to the summit, “easy prey” for some actors, under the pretext of debt?.
in (22 May 2014), will raise U. S. protection for Iraqi funds deposited in the “Development Fund for Iraq,” and will receive a responsibility CBI directly, after exit Iraq from Chapter VII in the (June 27, 2013), but there are fears of an asylum some countries and traders who “Wiesel their saliva” on those funds, according to observers, to bring claims in international courts for debt, claiming it owed ​​to the former regime.
extension of last resort Protection accordingly says Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh in an interview for “Alsumaria News”, “deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank of the U. S. and is a discount of 5% of compensation Kuwait in accordance with Section VII imposed by the United United against Iraq, “noting that” the Iraqi Central Bank, and since he took over the responsibility of the Iraqi Development Fund in 2010 became unprotected, prompting Iraq to be placed under American protection. ” adds the benefit of that “Iraq has agreed with the United States to put these funds under U. S. protection a one-year stretch until June 2011, after the lifting of Iraq from Chapter VII in the (15 December 2010) in accordance with Resolution 1956 should be that Iraq will manage the Development Fund for Iraqi funds himself. “
explains Saleh said that “Iraq has agreed to renew the protection and for another year After the signing of the Convention on the harm or protection agreement which under which Iraq paid 400 million dollars to the United States as a result of the harm that resulted from the war that waged the former regime. ” refers Saleh that “the United States has demanded Iraq to renew the protection of the money back, according to the set by the Organization of the International Monetary under which the new protection fund for an additional year ending in May 2013, to be later renewal protection for another year ending in (22 May 2014). ” and likely favor that “this is an extension of the protection is the last of its kind,” explaining that “there Protection would be natural for Iraqi funds deposited in U. S. banks, even though it did not renew this protection, as the central bank is an independent entity and administered funds not used for speculation or trade but stability. “
allay fears and dispel the Governor of the Central Bank and the Agency Abdel Basset Turki, “threats” of potential which may affect the Iraqi funds deposited in the United States, asserting that “the protection of Iraqi funds in the United States end in (22 May 2014). explains Turkish that “Iraqi funds deposited outside the United States raised the protection it two years ago,” he said, adding that “the claims of some persons and bodies debts stemming from the former regime, do not constitute a threat to the resources of Iraq. “
adds Turkish that “the big issues that were facing Iraq, particularly in relation to the problem of KAC was solved, and therefore, the concern of the issues that may be raised is much less than it was five years ago,” noting that “Iraq’s ability to defend its assets strong, and there is a consulting firm legal and international consultants specialized in defense of their rights. ” and deposited in the “Development Fund for Iraq” all Iraq’s revenues from oil exports and withdraw the United Nations of this revenue 5% compensation to Kuwait for war 199 , with pay and the Ministry of Finance, all of Iraq’s debt before the Government recognizes the responsibility of overseeing the fund. , and the Development Fund for Iraq, DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003, among experts that Iraq has lost part of its expenses, and that any obstruction in the rates of export of oil or the fluctuation in prices, will affect the ability of government spending, amid a political crisis that is unprecedented in the country. was the UN Security Council had committed the Iraqi government at the end of 2010 to develop a plan for the receipt of the oversight functions on the “Development Fund for Iraq,” of the United Nations the end of 2010, for the Iraq after cum-Treasury U. S. federal to ensure immunity by law the U. S. presidential him and that will protect Iraq’s imports of oil from custody by a lot of creditors.
noteworthy that the UN Security Council votes, in the (June 27, 2013 ), unanimously approved the decision to remove Iraq from Chapter VII, in the presence of Iraqi Foreign Minister Hoshyar Zebari, and before that Iraq sought to cancel the debts arising during the reign of the former regime, amounting to more than 120 billion dollars, which date back to some compensation because of wars with its neighbors and other other countries and traders, with some states requiring the government and Iraqi traders need to pay their dues and are threatening to sue in international courts to fund Iraqi

Central Bank decides SEC “11″ tons of gold bullion for “diversification of the means of saving the public”

Long-Presse / Baghdad:  Central Bank of Iraq, on Wednesday, for a contract with an international company for “SEC” 11 tons of gold bullion in order to diversify the means of saving for the public, while stressing his intention SEC new alloys in the event of increased demand.

According to a statement of the Central Bank received a (long-Presse) a copy of it, “in the light of the decision of the bank’s board last judge of the need to diversify the means of saving for the public, has been contracted with an international company specialized CREATION Gold Stamping 11 tons of gold bullion,” noting that “the weights of these alloys ranges between 5 g and 1000 g. ”

The bank said in a statement, “We hope that this move is the first stage in the event of increased demand for gold bullion will be coined new alloys.”

The Iraqi Central Bank announced (March 25, 2014) for the purchase of 36 tons of gold during the month of March last year, returned to this matter represents a tool of monetary policy to stabilize the exchange rate of the Iraqi dinar.

The Bank has decided, in (January 23, 2014), “SEC assortment of gold bullion” to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that “this action represents one of the tools of monetary policy to the Bank.”

In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

The Iraqi Central Bank revealed, in (September 22, 2013), the arrival of the reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, is expected to increase the reserve in the coming months.

The International Monetary Fund, it was announced, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank’s hard currency to $ 70 billion, attributing the increase to the “revenue oil unexpected. ”

Financial experts confirmed that Iraq’s stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government.

LINK

War: No threat of Iraqi funds in the United States and abroad, and will be managed in Iraq next month

Posted, April 3 / April 2014 20:20
[Baghdad where]
Said legal expert Tareq Harb said there was no threat of Iraqi funds in the United States or abroad, and will be the Iraqi Central Bank to control the money next month without the mediation of the Development Fund for Iraq [DFI] or FEDs. ”
He said the war in a statement received by all of Iraq [where] a copy of it today: “Commenting on what reported by some media of the existence of a threat of Iraqi funds after May 22, 2014, the expiration of the entry into force of the decree, U. S. and issuance of UN Security Council Resolution 2107 in 2013, which drove Iraq Chapter VII say that Iraqi money in America was protected by a decree issued by President Bush in 2003 and this decree is renewed annually and was last decree was issued in 2013 and expires on 22 May 2014, which prohibits administrative bodies and judicial U. S. from seizure or confiscation or implementation of any provision relating to money Iraqi.
And remember that “the Iraqi money outside America was protected by UN Security Council resolutions issued under Chapter VII of this protection and concluded with UN Security Council Resolution 1956 on 31/12/2010.
He said the “claims the U. S. for pro-Iraqi terminated under the agreement of the Iraqi American who was approved by parliament and issued Law No. 7 for the year 2011, including paying $ 400 million dollars for the American exchange for dropping and end all lawsuits and claims of U. S. individuals or companies, or any other claims, even if in the future and therefore no risk the Iraqi funds in America.
He noted that Iraqi funds abroad was the biggest threat to her claim Kuwait Airways and this has been settled by agreement with the Kuwaiti company where he was part of the payment of the amounts claimed against the end and dropping lawsuits and verdicts in this regard and actually got it.
He noted that Iraqi funds abroad were lifted protect them since the UN Security Council resolution 1956 of 2010, however there are no large claims or seriously threatens the money evidenced by expiration of a period of more than two years and Iraqi money without protection and there are no claims of serious or significant.
He continued, “All claims and lawsuits relating to the former regime and the remainder of which 5% of the compensation to the 1991 war where deducted from imports of Iraqi oil under the UN Security Council resolution and these claims and this percentage will be paid back the entire year and ending in 2015.
And between “each of the foregoing, there is no threat of Iraqi funds in the United States or abroad when he takes the Iraqi Central Bank to control the money next month without the mediation of the Development Fund for Iraq [DFI] or FEDs without any risk of a serious threat to the money whether Decree U. S. New or not issued.
The specialists in economic affairs has voiced fears of the possibility that Iraqi funds abroad to detention or confiscation, if Iraq did not improve the management of this file after the lifting of the U. S. trusteeship by the end of next May.
It was Barack Obama, the U. S. president, said last year that the U. S. administration would not extend guardianship, calling on Iraq to solve the financial problems with creditors abroad. Ended
alliraqnews. com

Central bank is preparing to take over Iraq’s assets in America

Alsumaria News / Baghdad –   Following the passage of months out of Iraq from Chapter VII, is preparing the central bank eventually to raise U.S. protection imposed on the Iraqi funds deposited in the United States, step has been welcomed and raised fears at the same time about the possibility of achieving a quantum leap in the process of construction or damage to the funds of the Iraqi State, Is this money will be a bit “easy prey” for some actors, under the pretext of debt?.

In (22 May 2014), will raise U.S. protection for Iraqi funds deposited in the “Development Fund for Iraq,” and will receive a responsibility CBI directly, after the withdrawal of Iraq from Chapter VII in the (June 27, 2013), but there are fears of an asylum some countries and traders who “Wiesel their saliva” on those funds, according to observers, to bring claims in international courts for debt, claiming it owed to the former regime.

Extension of last resort for protection

Accordingly says Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh in an interview for “Alsumaria News”, “deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank of the U.S. and is a discount of 5% of compensation Kuwait in accordance with Section VII imposed by the United Nations against Iraq, “noting that” the Iraqi Central Bank, and since he took over the responsibility of the Iraqi Development Fund in 2010 became unprotected, prompting Iraq to be placed under American protection. ”

He adds that the benefit of “Iraq agreed with the United States to put these funds under American protection for a year stretch until June 2011, after the lifting of Iraq from Chapter VII in the (15 December 2010) in accordance with the resolution 1956 should be that Iraq will manage the Development Fund Iraqi funds himself. ”

Illustrates the benefit of that “Iraq agreed to renew the protection for one year after the last agreement signed harm or protection agreement, which has pushed Iraq which 400 million dollars to the United States as a result of the harm that resulted from the war waged by the former regime.”

Points in favor of that, “the United States has demanded Iraq to renew the protection of the money back, according to the set by the Organization and the International Monetary under which new protection fund for an additional year ending in May 2013, to be later renewal protection for another year ending in (22 May 2014) “.

He suggested that the benefit of “This is an extension of the protection is the last of its kind,” explaining that “there is protection would be natural for Iraqi funds deposited in U.S. banks, even though it did not renew this protection, as the central bank is an independent entity and the funds managed by the not used for speculation or trade, but of stability. ”

Dispel fears

And dispels the governor of the central bank and agency Abdel Basset Turki, “threats” that might affect the potential of Iraqi funds deposited in the United States, asserting that “the protection of Iraqi funds in the United States end in (22 May 2014).

Turk explains that “Iraqi funds deposited outside of America raised her protection two years ago,” he said, adding that “the claims of some persons and bodies debts owed by the former regime, does not pose a threat to Iraq’s resources.”

He adds Turkish that “the big issues that were facing Iraq, particularly in relation to the problem of KAC was solved, and therefore, the concern of the issues that may be raised is much less than it was five years ago,” noting that “Iraq’s ability to defend his money is strong, and there Office legal adviser and international consultants specialized in defense of their rights. ”

Deposited in the “Development Fund for Iraq” all Iraq’s revenues from oil exports and the United Nations withdraw from this revenue 5% compensation to Kuwait for war 199, while the Ministry of Finance to pay all of Iraq’s debt before the Government recognizes the responsibility of overseeing the fund.

And the Development Fund for Iraq, DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003, among experts that Iraq has lost part of its expenses, and that any obstruction in the rates of export of oil or the fluctuation in prices, will affect the ability of spending government, amid a political crisis that is unprecedented in the country.

The UN Security Council has committed the Iraqi government at the end of 2010 to develop a plan for the receipt of the oversight functions on the “Development Fund for Iraq,” the United Nations the end of 2010, of the Iraq after placing it in the locker U.S. federal to ensure immunity by law the U.S. presidential him and that would the protection of Iraq’s oil imports from custody by a lot of creditors.

The UN Security Council voted, on (June 27 2013), unanimously approved the decision to remove Iraq from Chapter VII, in the presence of Iraqi Foreign Minister Hoshyar Zebari, and before that Iraq sought to cancel the debts arising during the reign of the former regime, amounting to more than 120 billion dollars which dates back to some compensation because of wars waged by his neighbors and some other countries and traders, with some states requiring the government and Iraqi traders need to pay their dues and are threatening to sue in international courts to fund Iraqi imports.

LINK

Zebari and U.S. ambassador discuss developments in security and political situation in Iraq

BAGHDAD / NINA / Foreign Minister Hoshyar Zebari, met on Tuesday with U. S. Ambassador Robert Stephen Beecroft and discussed developments in political and security situation in the country.
The Foreign Ministry said in a statement today that the two sides discussed bilateral relations and U. S. support for the government’s efforts in the fight against terrorism.
It added that the two sides also discussed the political and security situation in the region, and the ongoing preparations for the holding of parliamentary elections later this month.
It outlined that the meeting witnessed a review the immunities of the Development Fund for Iraq and the protection of Iraqi funds in the United States in the coming period .

Zebari and U.S. ambassador discuss developments in security and political situation in Iraq

BAGHDAD / NINA / Foreign Minister Hoshyar Zebari, met on Tuesday with U.S. Ambassador Robert Stephen Beecroft and discussed developments in political and security situation in the country.

The Foreign Ministry said in a statement today that the two sides discussed bilateral relations and U.S. support for the government’s efforts in the fight against terrorism.

It added that the two sides also discussed the political and security situation in the region, and the ongoing preparations for the holding of parliamentary elections later this month.

It outlined that the meeting witnessed a review the immunities of the Development Fund for Iraq and the protection of Iraqi funds in the United States in the coming period . / End

LINK

Central Bank raises for the protection of Iraqi funds abroad

Follow-up / newspaper probity – witness the next date of 5/22/2014 change economically and strategically a lift protection for Iraqi funds deposited in banks in the United States.
Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh: “It’s (22 May 2014), will raise U. S. protection for Iraqi funds deposited in the” Development Fund for Iraq, “and will receive the responsibility of the Iraqi Central Bank directly, after the withdrawal of Iraq from Chapter VII in (27 June 2013). ”
He stressed that: “Deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank and the U. S. is a discount of 5% of Kuwait’s compensation in accordance with Section VII imposed by the United Nations against Iraq. ” Ended

Central Bank raises for the protection of Iraqi funds abroad

Follow-up / newspaper probity – witness the next date of 5/22/2014 change economically and strategically a lift protection for Iraqi funds deposited in banks in the United States.

Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh: “It’s (22 May 2014), will raise U.S. protection for Iraqi funds deposited in the” Development Fund for Iraq, “and will receive the responsibility of the Iraqi Central Bank directly, after the withdrawal of Iraq from Chapter VII in (27 June 2013). ”

He stressed that: “Deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank and the U.S. is a discount of 5% of Kuwait’s compensation in accordance with Section VII imposed by the United Nations against Iraq.” Ended

LINK

After months of lifting the seventh item .. the central bank is preparing to take over Iraq’s assets in America

After months of lifting the seventh item . . the central bank is preparing to take over Iraq’s assets in America
Posted, 4-1-2014 11:47
Alsumaria News / Baghdad
after the passage of months out of Iraq from Chapter VII, is preparing the central bank eventually to raise U. S. protection imposed on the Iraqi funds deposited in the United States, step has been welcomed and raised fears at the same time about the possibility of achieving a quantum leap in the process of construction or damage the money of the Iraqi Foreign Will it be the money to the summit, “easy prey” for some actors, under the pretext of debt?. in (22 May 2014), will raise U. S. protection for Iraqi funds deposited in the “Development Fund for Iraq,” and will receive a responsibility CBI directly, after exit Iraq from Chapter VII in the (June 27, 2013), but there are fears of an asylum some countries and traders who “Wiesel their saliva” on those funds, according to observers, to bring claims in international courts for debt, claiming it owed ​​to the former regime. extension of last resort Protection accordingly says Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh in an interview for “Alsumaria News”, “deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank of the U. S. and is a discount of 5% of compensation Kuwait in accordance with Section VII imposed by the United United against Iraq, “noting that” the Iraqi Central Bank, and since he took over the responsibility of the Iraqi Development Fund in 2010 became unprotected, prompting Iraq to be placed under American protection. ” adds the benefit of that “Iraq has agreed with the United States to put these funds under U. S. protection a one-year stretch until June 2011, after the lifting of Iraq from Chapter VII in the (15 December 2010) in accordance with Resolution 1956 should be that Iraq will manage the Development Fund for Iraqi funds himself. ” explains Saleh said that “Iraq has agreed to renew the protection and for another year After the signing of the Convention on the harm or protection agreement which under which Iraq paid 400 million dollars to the United States as a result of the harm that resulted from the war that waged the former regime. ” refers Saleh that “the United States has demanded Iraq to renew the protection of the money back, according to the set by the Organization of the International Monetary under which the new protection fund for an additional year ending in May 2013, to be later renewal protection for another year ending in (22 May 2014). ” and likely favor that “this is an extension of the protection is the last of its kind,” explaining that “there Protection would be natural for Iraqi funds deposited in U. S. banks, even though it did not renew this protection, as the central bank is an independent entity and administered funds not used for speculation or trade but stability. ” allay fears and dispel the Governor of the Central Bank and the Agency Abdel Basset Turki, “threats” of potential which may affect the Iraqi funds deposited in the United States, asserting that “the protection of Iraqi funds in the United States end in (22 May 2014). explains Turkish that “Iraqi funds deposited outside the United States raised the protection it two years ago,” he said, adding that “the claims of some persons and bodies debts stemming from the former regime, do not constitute a threat to the resources of Iraq. ” adds Turkish that “the big issues that were facing Iraq, particularly in relation to the problem of KAC was solved, and therefore, the concern of the issues that may be raised is much less than it was five years ago,” noting that “Iraq’s ability to defend its assets strong, and there is a consulting firm legal and international consultants specialized in defense of their rights. ” and deposited in the “Development Fund for Iraq” all Iraq’s revenues from oil exports and withdraw the United Nations of this revenue 5% compensation to Kuwait for war 199 , with pay and the Ministry of Finance, all of Iraq’s debt before the Government recognizes the responsibility of overseeing the fund. , and the Development Fund for Iraq, DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003, among experts that Iraq has lost part of its expenses, and that any obstruction in the rates of export of oil or the fluctuation in prices, will affect the ability of government spending, amid a political crisis that is unprecedented in the country. was the UN Security Council had committed the Iraqi government at the end of 2010 to develop a plan for the receipt of the oversight functions on the “Development Fund for Iraq,” of the United Nations the end of 2010, for the Iraq after cum-Treasury U. S. federal to ensure immunity by law the U. S. presidential him and that will protect Iraq’s imports of oil from custody by a lot of creditors. noteworthy that the UN Security Council votes, in the (June 27, 2013 ), unanimously approved the decision to remove Iraq from Chapter VII, in the presence of Iraqi Foreign Minister Hoshyar Zebari, and before that Iraq sought to cancel the debts arising during the reign of the former regime, amounting to more than 120 billion dollars, which date back to some compensation because of wars with its neighbors and other other countries and traders, with some states requiring the government and Iraqi traders need to pay their dues and are threatening to sue in international courts to fund Iraqi imports.
alsumaria. tv