DrDinar Blog

Adil Abdul-Mahdi, the former Iraqi vice president who resigned from his post, vehemently criticized Iraq’s economic policy, describing it as a failure. Abdul-Mahdi warned that tampering with the balances of nature of the economy could lead to “tsunamis, desertification and misinterpreted fluctuations.”

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Summary : In a statement issued on his personal Facebook page, economist and former Iraqi vice president Adil Abdul-Mahdi has vehemently criticized the country’s economic policy. Original Title: Prominent Iraqi Politician Vehemently Criticizes the Country’s Economic Policy: Capitals Will Drift Away and Trust in the Dinar Will Be Lost Author: Omar al-Shaher Translated by: Steffi Chakti Categories : Originals Iraq

Abdul-Mahdi is one of the most prominent figures of the Islamic Supreme Council headed by Ammar al-Hakim. He assumed the post of minister of economy during the mandate of former Iraqi Prime Minister Ayad Allawi, and was later appointed vice president before presenting his resignation due to political conflicts.

On his personal Facebook page, Abdul-Mahdi wrote about the dramatic fluctuation in the exchange rate of the Iraqi dinar against the US dollar since the beginning of April. “The high demand for the US dollar that we have seen for months has been widening the gap between supply and demand, at about $60 million-$70 million per day. A black market has emerged, in addition to two different exchange rates with a difference of 8%-10%.”

Since the beginning of April 2013, the exchange rate of the Iraqi dinar has entered a phase of decline against the US dollar, which hit its nadir last week when the dinar dropped from 1,200 per US dollar — the exchange rate registered in March — to 1,300 per US dollar.

Yet, the value of the dinar improved this week following news about a proposal presented by the parliamentary Financial Commission, which stipulates disbursing half of all state employees’ salaries in dollars.

Hussein al-Najem, a financial expert, expected the exchange rate of the Iraqi dinar to keep advancing due to “new measures espoused by the Central Bank of Iraq (CBI) pertaining to controlling the flow of US dollars into the Iraqi market and to the funding of foreign trade.”

Speaking to Al-Monitor, Najem added, “The real value of the Iraqi dinar is strong; it relies on an exchange reserve of $60 billion, which is a weighty cover amid the international economic crisis. The regional challenges have impacted the exchange rate; yet the Iraqi government has contained the crisis through the CBI’s policies in regard to controlling the flow of US dollars into the Iraqi market and regulating the funding of foreign trade.”

The CBI sells US dollars to Iraqi banks at a rate of 1,179 Iraqi dinars per dollar, provided that banks do not sell these dollars to Iraqi citizens for more than 1,189 dinars per dollar. The aforementioned rate is lower than the market rate by 8%. This is what Abdul-Mahdi refers to as “two exchange rates.”

According to Abdul-Mahdi’s statement on his Facebook page, “This is a disturbing issue that takes us back to the policies of inflation and multiple exchange rates.” He continues, “Our problem is that we have a strong dinar coming from the oil revenues within a fragile, single-product economy that depends on foreign [markets], not only for imports and tourism, but also for medical treatments, migration, residence, investment, speculation and savings.”

“We have to enhance the performance of the economy in order to consolidate it. [We should] become more open for the sake of our society and the national economy, in order to establish a regional and international status for the dinar so as to make it more valuable and increase demand for it. We leaped forward, and our successful monetary policies began to suffer the consequences of the failed economic policies. While we were concerned about pennies, we lost dollars. We accused and detained people first, and gathered evidence later.”

Clearly, Abdul-Mahdi is alluding to the ouster and prosecution of former CBI Governor Sinan al-Shabibi in October of last year, on charges of corruption and wasting of public money. Subsequently, Abdel Basset Turki was assigned as the interim governor.

Abdul-Mahdi believes that “if concepts and measures are not altered in tandem with the changing of regimes, they will clash — as is currently happening. When we abandon the official exchange rate for the sake of supply and demand; [when we halt] restraining transfers, save for a few exceptions, and we instead lift the restrictions after fulfilling the requirements; when we seek to become a civil economy and a market economy, only then, when the strong dinar is not allowed to meet its needs in dollars, will the economy be weakened.”

Abdul-Mahdi pointed out that this “would result in [existing] capital drifting away and impede other capital from flowing in. It will shake the world’s trust in the dinar and weaken its value, thus hindering the dinar from achieving stability locally and [entering] foreign markets. [Subsequently], the dependency on foreign markets will be further highlighted; inflation, corruption and fraud will ensue.”

Abdul-Mahdi believes that there are many examples which support his views. These include “the companies that are hastily established abroad and are ready to provide whomever wishes with ‘bills’ ratified by embassies and companies, in order to facilitate monetary transfer for the purposes of importing [dollars].” He also notes [that there are those who] “acquire US dollars through collecting passports. These passports are not for actual travel purposes, but to benefit from the difference in exchange rate. [Whomever holds an Iraqi passport can buy $5,000 a month from private banks at a special rate.] All of this is accomplished via additional charges that the economy and Iraqi citizens will pay for.”

Omar al-Shaher is a contributor to Al-Monitor’s Iraq Pulse. His writing has appeared in a wide range of publications including France’s LeMonde, the Iraqi Alesbuyia magazine, Egypt’s Al-Ahaly and the Elaph website.

Read more: http://www.al-monitor.com/pulse/originals/2013/05/iraqi-vice-president-criticizes-economy.html#ixzz2U3ORsM3j

Canada “Key Regional Player” In Iraq’s Growth

So here’s the deal, I’m a Canadian, I’ve been invested in and following the dinar for almost 9 years and today I get to write about Canada’s first Ministry visit to Iraq in 27 years.  Why is this important you might ask?

First of all you should know is that Canada is the #1 trading partner of the United States of America.  Second of all the Canadian Prime Minister Stephen Harper, a very conservative politician (whom I like and voted for) turned his nose up to the invitation to participate in the 2003 Bush Administration invasion of the Saddam era Iraq.

Why didn’t Canada participate in the War?  I’m not sure why but I know Harper saved the Canadian economy a wack load of money in the process, that I do know.  Mr Harper was also well aware that United States and Britain would be enough to do a number on Baghdad.  I think it’s fair to say that the coalition forces did a number on Iraq, and I’m all for that too.

Stephen Harper is a cool guy, he gave side arms to Canadian border officers for the first time which was very well needed.  Anyway this is not about Canadian politics as much as it’s about Iraq Canadian politics and what type of impact can be expected.  Judging by the official photos released of the high profile secret meetings of Canadian and Iraqi officials with each countries mini flag sitting on the big political table a critic could spew about Canada’s physical presence in Iraq as being all about pomp and pageantry.  A bit of a show so to speak, the next best thing to having the Queen show up in Fallujah Iraq wearing a bullet proof vest and a beautiful crown made of gold plated 9mm parabellum shells created just for the occasion.  Why did 2 of Canada’s top ranking Ministers really visit Iraq?

John Baird who is the Minister of Foreign Affrairs offered $13 million to the country of Jordan to help pay for Syrian refugees entering Jordan.  Canada’s Ministry of Foreign Affairs is the Federal office that approves and issues permits to legally import machines into Canada.  So what’s this guy doing for Iraq?  Let’s take it from the cows mouth shall we….

“Today’s opening is a historic milestone in Canadian relations with Iraq and comes at a pivotal moment,” Baird said. “Ten years after the Iraqi intervention, Iraq is one of the fastest growing economies in the world, despite deep and lingering sectarian tensions”

John Baird’s surprise visit to Iraq occurred just after his visit to Jordan.  International security issues as well as a vision of Middle Eastern peace were discussed.  Canadian Immigration Minister Jason Kenney also shown up in Baghdad in early march unannounced.

Canada’s help in implementation of social and humanitarian management systems in exchange for cheaper oil should be some of the deals to be expected with these diplomatic missions.

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Once you have decided about investment then it’s a good idea to make an investment in Iraqi dinar. It is known also with the name i.e. Swiss dinar. Do you know why this currency was known as the Swiss dinar? Yes! There was a time when this currency was known as the Swiss dinar just because of quality and unbeatable security features in it. Swiss dinars were usually printed in Switzerland as well as in the UK.

Paper quality of dinar was tremendous and Swiss dinar was traded on the value of 3.33 USD Per Iraqi dinar and at that time dinar had the international status its means that like the US and British pounds, this currency was also available everywhere in the world and everyone could easily buy it. When Saddam Hussein came into the government his wrong policies led the country to the downward and the economic conditions of Iraq got worst.

Saddam Hussein printed Iraqi currency with his own image with different denominations but the Kurdish people did not accept the policies as well as new denominations of dinar and thus Iraqi dinar divided into two regional currencies i.e. Kurdish currency and the currency having the Saddam Hussein image. This lead to downfall of Iraqi currency, not only this became the reason but there were many other reasons as well which became the reason for the downfall of Iraqi currency like Sanctions of UN on Iraq, Kuwait Iraq and Iraq and Iran war and in the last Invasion of US security forces in Iraq destroyed the Iraq and its economy to a great extent. These worst situations brought dinar on opposite side i.e. From 3.33 USD per dinar to 4000 per USD. But again there has seen the positive rise in the currency of Iraq. If we see the tenure of 2003 then we will find that value from that time to present has obtained the very good rise.

Now it’s a matter to know either investment in Iraqi dinar ok or not! According to financial experts and the opinions of many experts, dinar is very good investment and this is the right time to make an investment in it because at present you can buy dinar in large numbers from very less amount of US dollars. This means that if dinar is revalued then it will increase its value and thus US dollars would be bought from dinar. But it’s important to select the dealer having the valuable knowledge and information about it and good knowledge about Iraqi dinar investment.

When taking the services then try to find about the authenticity of dealers by knowing its certifications from Better Business Bureau and US treasury department. Always get the new denominations from dinar dealers which is un-used and for the non-criminal origin. Keep in mind that security departments always monitor the transactions between the dealer and investor. So take into consideration the reliable dealer prior to make an investment in Iraqi dinar.

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Top 5 Reasons To Buy Iraqi Dinar

1.  Buy and hold for potential to make money in the long term.  The implication of buying to hold is that you have decided that you are in for the long haul of a predetermined period of time before you sell.  Are you going to wait 10 years before selling?  Or are you going to wait for an event such as  a revaluation before selling.  Buying and holding means you are not making your selling decision based on the day to day fluctuations of the Iraqi Dinar.

2.  Collecting the Iraq Dinar currency is a popular reason to acquire the banknotes and may be done in conjunction with other reasons to own the currency as well.  Keeping your notes in excellent condition, even ‘uncirculated condition’ is paramount to many Iraq banknote collectors.  Showing and displaying your banknotes is common and locking your currency up for no one to see is one route that collectors take as well.

3.  Support the rebuilding of Iraq by purchasing the currency is a reason for some investors to buy the banknotes in the first place.  This is probably the easiest method to get involved in the rebuilding of a country, to buy the currency and hold on to it for a specified period of time.  Buying the currency and then selling it before it matures is still helpful for the country as it moves their currency thereby increasing the potential for more sales.

4.  Diversify your investment in a unique way by owning Iraq Dinars.  A common investment portfolio might consist of stocks, bonds, treasury bills, gold, silver, and cash.  Adding Iraqi Dinar into your cash savings is one way of diversifying your investments.

5.   Buy to sell immediately for a profit is how I got started in the Dinar trade.  Ebay is a popular web site to buy and sell your Dinars.  Buying and selling immediately for a profit is done by purchasing a larger amount of the Dinar for a better price then breaking those banknotes down into individual banknote sales or smaller quantities while marking up the price to make a profit.  Capitol gains and tax may apply depending on the laws of the land for where you live.

There you have it, invest at your own risk, only invest what you can afford to loose and enjoy your Iraqi Dinar experience.

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Going across the world to another country is not only difficult for military members on deployment but for the families they leave behind as well. This memoir is revealing about what both parties go through during the distance.

In “The Day After He Left for Iraq”, Melissa Seligman opens the reader’s door to her world. Her family’s story reflects that of so many others who share similar experiences. Being free to share it and hear it allows us to acknowledge that we are human.

Melissa’s husband was deployed to Iraq while she was home with a baby and a toddler. The toddler understood more than adults would imagine. It makes you think about how important it is to prepare children for deployment and the return.

I am thankful that Melissa shared her family’s story. I’ve always wanted to know what a soldier goes through in war but was afraid to ask out of respect for their privacy.

As a young woman dating enlisted men in the military, I was discouraged by their immaturity and disregard of respect for young women. I guess I didn’t meet the good ones. I later married an Army Officer and he is a good man.

Now, as the mother of a young woman who is a Naval Officer on deployment and soon to be mother in law of her fiancee, also a Naval Officer just returned fro deployment, I pray every day for their future and that they will be safe and know they are loved.

I pray that when they have children I will be able to be a support during any deployments. I pray that the young men will become gentlemen who respect women and the families of the other side in the same way they would wish for their own families.

Many returning Veterans do have to seek counseling and their spouses as well but sharing their stories is a huge step in understanding their world. I will still respect privacy but do desire to find out how I can support our military families. As my daughter marries and shares her experiences, I hope to become involved in healing the heartaches of those returning from war.

I hope I never have to experience war. There are valid views on all sides. Americans who serve willingly need to be supported. Objectors during drafts need to be understood, such as what happened during the Viet Nam era. Those fighting against us may not have good cause but their mothers grieve for lost children just the same. The innocent on both sides still hurt.

I am glad I read this book. It is a start in knowing how we as citizens can help.

Author, Laura Schroeder enjoys sharing her life experiences and encouraging others. If her articles have been helpful, you may contact her at laura@lauramschroeder.com. Please make any comments family friendly.

Article Source: http://EzineArticles.com/?expert=Laura_Schroeder

Proof That Iraq Performs Regardless Of Political Tensions

There has been misleading information released in the blogosphere regarding the investment climate of Iraq. For this reason alone we have compiled some of the latest and major facts on Iraq’s investments to help us assess as to where our Iraqi dinar notes come into the scene and how is Iraq really performing amidst the political tensions and its efforts to lift up the Chapter VII of UN.

In 2012, the country’s economy grew by about 10 percent as it had the prior year. Due to the efforts in increasing the oil production for export, Iraq was able to produce 143 billion barrels of oil reserves which successfully placed them as the second largest oil producers in OPEC’s list. This was a major breakthrough because (so far) it is the highest level that they were able to stand in 30 years. In line with this, even China and the Exxon Mobil Corp captivated. Could Iraq become the largest oil exporter in the world?

In 2011, investors and other foreign firms reported that there were more than $55 billion worth in investments and other commercial activities in the country. These billions of investments were able to provide an increase of about 80 percent over 2010. The total deal value was even increased to 40 percent. According to a joint venture of UN and WTO called the ITC or International Trade Centre, Iraq was able to attract more than 1.6 billion US dollars of direct investments from foreign investors. This simply represented an increase by 52% since the year 2007.

Since the Government of Iraq (GOI) knows the country’s potential in providing oil to the rest of the world, it held 4 oil and gas licensing since the year 2009. This was a type of licensing bid where firms outside the country were given the opportunity to bid for contracts for a significant portion of Iraqi oil and gas reserves. In simple terms, even in 2009, Iraq has been giving efforts to rebuild its oil industry by the help of foreign firms and other foreign investors. How’s that for an effort?

So, how does Iraq deal with its foreign investments given that more and more investors are attracted? Under the Iraqi Constitution, overall investment climate acquired are either devolved to the regions or shared by the Federal Government and the regions within the premises. Investment in IKR or Iraqi Kurdistan Region functions only within the framework of the KRIL (Kurdistan Region Investment Law noted as Law 4 of 2006. The KBOI (Kurdistan Board of Investment) then provides incentives in areas under KRG’s authority. This Iraqi Constitution has helped the country (not just the KRG) in maintaining a great investment climate statement in the country. As a matter of fact, World Bank just recognized Iraq as the 165^th out of 185 countries that have been in ease of doing business category. Even the Transparency International placed Iraq 169^th among 176 in the year 2012 in its efforts to fight against corruption – a significant change of rank from its former 175^th out of 182 last year. So, how’s that for the record?

Moreover, NIL or National Investment Law which was passed in 2006 is the baseline for a legal structure in protecting domestic and foreign investors. As of today, GOI is still making efforts to improve or revise the said investment law to create a better environment to investors and its citizens. Iraqi authorities also have confirmed that there will be no restrictions on the on-going transactions of the currency exchange as long as valid documents are well provided.

However, the country is now facing another challenge prior to its slow yet increasing climate investment statement. The population of the country is expected to reach about 40 million by 2028 which pushes Iraq to have more skilled human resource capacity and enhance its educational system – this requires another help from foreign investors. From these major events happening in Iraq you can have your own assessment as to keep on holding your dinar notes or not.

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Iraqi Leaders To Hold A National Dialogue

People are skeptical as to whether or not Iraqi leaders and other government institutions will soon unite for one cause. People are even more skeptical about the Iraqi citizens on-going conflict between the Shia, Sunni, Kurds, along with the Iraqi government. What if the tides have changed and these people have sensed the urgency to unite for their nation’s future? What if the things that most people thought of as impossible will become a reality? What if there will be an influential and powerful third party to take the first move for the coming together of Iraqi leaders?

January 26, 2013 was a date that most people will remember. As Obelisk in Baghdad noted: The United Nations called on Saturday, the political parties in Iraq to a national dialogue for the unity of the country, expressed regret over the deaths in Fallujah demonstrations.

UN mission in Iraq UNAMI released their statement concluding that, “the Secretary-General of the United Nations strongly condemns the recent wave of terrorist attacks in Iraq that killed hundreds of people and left many injured as regrets for the killing and wounding a number of protesters in Fallujah,” calling “on all parties to exercise limit maximum restraint.” So, what the new mission then? “Iraqi political leaders and members of the House of Representatives to enter into a comprehensive dialogue to order and unity of Iraq.” UN mission in Iraq UNAMI stressed. What made these leaders realize that their nation needs their unity more than ever?

However, will there be a peaceful atmosphere when leaders from different regions and agencies come together? Even the Anbar medical sources had their say on the planned Dialogue, “the outcome of the confrontations that took place before noon between protesters and troops in the city of Fallujah killed six people dead and more than 60 injured, all of the demonstrators, with an eye, security sources said armed clash renewed between protesters and army troops after The oldest angry protesters burned two wheels military Humvee and two wheel drive cars belonging to the province of Anbar, killing three Iraqi soldiers and wounded seven others in downtown checkpoint.” Anbar medical sources could have their point. It is normal between two or more leaders with different experiences and beliefs might take the meeting as confrontations but, will Iraqi leaders take this experience and refuse to cooperate? Well, they can explain that to the United Nations.

To address what the Anbar medical sources statement, Kobler of United Nations expressed “the readiness of the United Nations to support Iraqi efforts to enhance the moderation trend in the region.”

It might be hard for these leaders to be united in a single hall but with the participation and exhortation of UN, it is no longer a topic to be thoroughly discussed, isn’t it?

Furthermore, Governor Abdul Basit Turki of Iraqi Central Bank got his prediction regarding the financial reserves of Iraq given that the Arab banking system will be there. He predicted that, “to achieve economic growth rates in the country within nine percent, coinciding with increased rates of oil production and exports, which rose late last year to around three million barrels per day, likely touching Iraq’s financial reserves of 110 billion dollars.” For Iraq to reach approximately 110 billion US dollars of financial reserves is not such a bad thing after all.

As a matter of fact, Baghdad Economic Forum and banking Fattouh expressed the “readiness of Arab banking system to provide various kinds of support to Iraq in order to revive the investment situation, announced achieving rates of gross domestic product in the country $ 132 billion last year, expected to rise to limits of $154 billion during the current year, noting that Statistics owned by the Union of Arab Banks expect to achieve Iraq’s high growth rates have not notified by any of the countries the world this year, pointing out that these statistics approached the limits of 14.7 percent.”

These events might want to tell us something. Whether or not the Iraqi leaders are not yet ready, they are called to be ready because there have been a lot of third parties voluntarily taking actions to snatch Iraq out from the bondage of unsecured and unstable status.  DrDinar is optimistic about a future revaluation but we will not sugar coat the facts about the timeline and tact required for this ‘future RV’ event.  We don’t focus on negative, but we won’t flush integrity about where the Iraqi Dinar is in the fight.

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Iraq’s First Kuwait Flights Since 1990

When former Iraqi leader Saddam Hussein invaded the Gulf oil state in 1990, Kuwait left no room for Iraq in their premises (even to their resources and airways). The war pushed Kuwait to cut their ties with Iraq since then. However, just like a blitzkrieg Kuwait granted Iraq the permission to resume its state airline which was cut for decades last Tuesday (February 12, 2013). What made Kuwait decide to open its gates to its former enemy?

When Iraq made its first move to settle its Gulf War-ear debts on Kuwait, diplomatic relations improved. The developing bilateral ties have now been followed with series of visits taken action by the Iraqi Prime Minister himself, Nuri al-Maliki. However, the Kuwait visit that Iraqi Prime Minister had ignited controversies among Iraqi politicians and citizens. Some people are just not convinced of the move taken by Nuri al-Maliki but they could not deny that it has helped improve the diplomatic relations between the two countries.

This improving relation brings forth an open airline from Iraq to Kuwait. As a matter of fact according to Kuwait’s news agency, KUNA, “Iraqi Airways (is) to resume flights to Kuwait on Feb 16 after 22 years of suspension.” So, how will this change of event support the economy of Iraq and how will it strengthen the dinar notes that we have been holding for a long time?

There is no definite answer yet but with Iraq’s first Kuwait flights in more than 20 years, a private carrier has offered direct flights between the two countries. Its major airlines route through cities such as Dubai even if there was a 346 miles distance. This unexpected event started on December 2012 when Kuwait decided to drop its airline legal charges against the Iraqi airways for 500 million dollar compensation.

Kuwait’s news agency KUNA continued, “Iraqi Airways will run four flights a week, one of Baghdad and two through Najaf and fourth through Erbil.” Four flights in a row for 7 days is not such a bad deal after all. 16 flights within a month might as well help Iraq gather enough opportunity for investments and revenue.

It seems that Kuwait is saying that you pay your debts first and we are going to forget the past. Is paying debts enough to forget the damages done? Maybe, but for some reason it went well for both parties. This opportunity opened by Kuwait to Iraqi Airlines gives route to regional destinations such as Amman and Beirut. However, due to the legal charges which were imposed, Iraqi Airlines faces flight challenges to European destinations because its planes will be confiscated – the pros seem to have its sided cons.

Moreover, as Iraq Airlines is preparing for its first Kuwait flights the Government announced last February 2, 2013 that it will launch its large-scale project of construction more than 1,000 primary and secondary schools. Take it from the words of media advisor Ali al-Musawi, “The project is part of a larger project to build 3,000 schools before 2015 due to the rise in student numbers in the country.”

This project is estimated to cost at about 275 million US dollars. The schools will be built in the following locations: Baghdad, Anbar, Babil, Wasit, Basra, Diwaniya, Najaf, al-Muthanna and Kirkuk under the guidance of the construction ministries of Iraq. How long will this project last? They are expected to finish the whole construction within 9 months according to al-Musawi.

To wrap it up, Kuwait is opening its arms of forgiveness and Iraq jumping to the chance to expand its means. Does this mean something for the current economic status of the country or just another rush decision because it paid over 500 million US dollars without getting the budget for 2013 approved?  We will have to wait and see.

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Iraq First Time On IMO White List Since 90’s – Explained

International Maritime Organization or IMO holds the world’s largest and most specialized agency responsible for most of the world’s maritime safety and pollution prevention from ships. This is the United Nations’ way of securing international shipping and global trade of the world’s largest industries among countries. Perhaps, Iraq could at least share the opportunity to engage in this worldwide trade and be legally considered as one of the traders.

Last Thursday February 14, 2013, the International Maritime Organization announced that they are white listing Iraq after the cancellation they made during the early nineties. Lead by maritime sector General, Iraq is now given the privilege to raise its Iraqi flag again on vessels with diplomas awarded by the Arabian Gulf Academy.

Iraqi vessels to raise their flag again

Captain Imran Radi, director of the General Company for Ports even released his statement in an interview, “The delegation visited most institutions and offshore installations to identify the extent of their controls adopted by the organization, the delegation came out positive Bantabaat pave the way for a decision in the near future to include an Iraq within the white list, after the cancellation of the early nineties. Iraq paid to an organization his trust of the debt is a subscription accumulated, also completed more than 60% of the business and the actions that qualify to return to the white list.. the company ports is determined to meet the controls remaining, including the application of the quality system, and the inclusion of e-government system ports.”

Radi knows well that being back on the white list of IMO brings significant benefits for the maritime sector which will include Iraqi vessels raising their national flag during sailing. This is way beyond recognition that diplomas can give. This could mean full recognition and declaration not just to their Arab neighbors but most importantly to the world.

However, is sailing Iraq’s cup of tea?

When the Legal Adviser of the Organization Ouxtan Blanco was interviewed for Alsumaria News he said, “Maritime sector in Iraq gradually develops after exposure to a complete breakdown, Iraq has the ingredients for success and development at sea because it retains the expertise of human large in this area. Iraq expedite, the signing of some international conventions that the organization to enable us to include it on the white list.. the organization supported Iraq in its quest to join the countries classified as white list.”

Well, it seems that Blanco has seen Iraq’s potential in working out for sailing even if it may seem not to be its cup of tea. After all, Iraq is also a nation that needs to keep up with the modern world of trading. Iraq’s maritime sector year now consists of the General Company for Maritime Transport, General Company for oil tankers and the General Company for Ports. It also includes Arabian Gulf Academy and Sciences Research Center Sea. The country has five ports and platforms for mono floating for export of oil and other 5 commercial ports which are known to be the oldest port stronghold in the country located near the city of Basra.

So, what did the Deputy President of the Academy Ahmed Abdul Jabbar said? “The conditions imposed by the organization on Iraq for adoption in the white list include commitment to the Convention of the International criteria for granting certification and training sailors for the year 1978 and its amendments, “adding that” Iraq has already ratified this agreement and its amendments, and in light of this, we expect recognition of academic certificates organization after a few months.”

IMO was founded in 1948 and currently the world’s highly respected and trusted agency in the world of high seas shipping and trade. This has been a well-established agency driven to combat environmental pollution and improve maritime security. Since IMO has seen Iraq as a good trader that can keep up with the fast and competitive ever-growing maritime trade of today, this is good news. DrDinar deems IMO white listing as a major milestone checked off among a list of about half a dozen pending milestones that need attention before a revaluation of the currency; World Trade Organization (WTO) ‘white listing’ so to speak is one of the them.

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