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  • Investors Iraq News's Avatar
    Yesterday, 05:12 AM
    By John Lee. Five suspected members of an organized crime ring that was smuggling stolen cars into Iraq have reportedly been arrested in Turkey. Police detained three members of the gang, one of them a Greek national, at a customs office in Istanbul after they cleared a luxury Jaguar through customs. They later detained a Turkish national and the Iraqi leader of the group in a raid on a villa, also confiscating Mercedes SUV and $55,000 in cash. According to Hurriyet Daily News, the two cars will be returned to their owners in Germany. It adds that the leader of the is understood to be a prominent figure in Iraq’s automobile market, owning many auto galleries in the country. (Source: Hurriyet Daily News) (Picture: Smuggling, from dizain/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 47 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 03:00 AM
    The United Nations Mine Action Service (UNMAS) has welcomed a contribution of AUD 11 million (USD 8.6 million) from the Government of Australia dedicated to explosive hazard management in support of humanitarian and stabilization efforts. Approximately 2.1 million civilians are still displaced due to the recent conflict and unsafe conditions to allow their return. A nation-wide intentions survey was carried out by REACH in partnership with the Camp Coordination and Camp Management Cluster in internally displaced person (IDP) camps between 12 December 2017 and 14 January 2018 highlighted that 52% of people interviewed were not planning to return home. Of the 52% that will not return, 21% stated this was due to the possible presence of improvised explosive devices (IEDs) and unexploded ordnance. In effect, 1 in 10 IDPs in the camps surveyed who are not leaving the camp are not returning home because of the fear of explosive hazard contamination in or nearby their homes. The Government of Iraq maintains explosive hazard management capacities within a number of government entities and established mine action authorities, though the demand for assistance far exceeds the resources available. With the three-year contribution from Australia, UNMAS will conduct survey and clearance of liberated areas suspected to be affected by explosive hazards. This is in direct support of the Government priorities as outlined in the Directorate for Mine Action (DMA) “National Strategic and Executive Plan for Mine Action for 2017-2021” which highlights DMA’s aim to be able to survey, mark and render safe 50% of known explosive hazard contamination by 2021. Simultaneously, in collaboration with DMA, risk education will be provided to those living in and returning to liberated areas, directly mitigating the threat posed by explosive hazards and IEDs. The efforts will specifically target affected communities known or suspected to have an explosive hazard or IED threat. The Australian Ambassador to Iraq, Dr. Joanne Loundes (pictured) said: “Australia is proud to partner with UNMAS and provide AUD11 million over three years towards critical demining activities in Iraq. Even though Iraqi territory has been liberated from ISIL, explosives remain hidden in homes, schools, hospitals and roads in former ISIL controlled areas. Unless these areas are cleared, people cannot return home, stabilisation and reconstruction efforts will stall and the human toll from this devastating conflict will continue.” Pehr Lodhammar, UNMAS Senior Programme Manager, added: “Through this generous contribution, the Government of Australia will further enable UNMAS to respond to explosive hazards through survey and clearance and in turn enable safe and dignified returns.” (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 34 view(s)
  • treasurehunter9's Avatar
    Yesterday, 02:45 AM
    Thanks for the help
    4 replies | 266 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 12:03 AM
    http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=https%3A%2F%2Fbaghdadtoday.news%2Far%2Fnews%2F45214/-
    88 replies | 13642 view(s)
  • Investors Iraq News's Avatar
    05-19-2018, 05:40 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    05-19-2018, 11:14 AM
    By John Lee. The alliance headed by former Shia militia chief Moqtada al-Sadr has won the parliamentary election. But according to BBC News, Sadr cannot become prime minister as he did not stand as a candidate. He is, however, expected to play a key role in forming the new government. Sadr is strongly opposed to Iranian and US involvement in the country. The party of outgoing PM Haider al-Abadi was pushed into third place, behind a pro-Iranian alliance led by Hadi al-Amiri. More here and here. (Source: BBC, Reuters) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 40 view(s)
  • Investors Iraq News's Avatar
    05-19-2018, 11:14 AM
    DNO ASA, the Norwegian oil and gas operator, has completed the private placement of USD 400 million of new, five-year senior unsecured bonds to be issued at 100 percent of par with a coupon rate of 8.75 percent. The bond placement received strong investor demand across international markets and was oversubscribed. The bond issue is expected to be settled on or about 31 May 2018, subject to customary conditions precedent. An application will be made for the bonds to be listed on the Oslo Stock Exchange. In connection with the bond placement, the Company has agreed to roll over USD 200 million in nominal value of DNO01 bonds (ISIN: NO0010740392) at 103.25 percent of par plus accrued interest into the new bond. The rolled over bonds will be canceled and USD 200 million of outstanding DNO01 bonds will remain. Net proceeds from the new bonds will be used towards refinancing the outstanding DNO01 bonds and for general corporate purposes. Pareto Securities AS acted as lead manager and bookrunner with Danske Bank and SpareBank 1 Markets AS as co-managers and bookrunners. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 48 view(s)
  • Investors Iraq News's Avatar
    05-19-2018, 02:54 AM
    By John Lee. Medserv, the Malta-based oil and gas logistics support and services group, has said that its Iraqi business remained weak through Q1 2018. But in its Interim Report, the company said the forward order position in Iraq is much healthier for the second quarter of 2018 and those levels are expected to be maintained. It added: “The medium-term forecast on Iraq remains positive with the number of land rigs mobilized to oil fields showing a healthy increase over 2017. This flows through as more demand for the METS Iraq’s services.” (Source: Medserv) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 46 view(s)
  • Investors Iraq News's Avatar
    05-19-2018, 02:54 AM
    Translations of Assyrian writings found by archaeologists from the University of Tübingen have yielded a secret lost to history: The place where the clay tablets were found – Bassetki, in Autonomous Region of Kurdistan in Iraq – appears to be the ancient royal city of Mardaman. This important northern Mesopotamian city is cited in ancient sources, but researchers did not know where it lay. It existed between 2,200 and 1,200 years BC, was at times a kingdom or a provincial capital and was conquered and destroyed several times. Archaeologists from Tübingen’s Institute for Ancient Near Eastern Studies excavated the archive of 92 clay tablets in summer 2017. Headed by Professor Peter Pfälzner, the team is working at the Bronze Age site with Dr. Hasan Qasim of the Duhok Antiquities Department. The clay tablets date to the Middle Assyrian Empire, about 1,250 BC. The small, partly crumbling tablets have now been read painstakingly by the University of Heidelberg philologist Dr Betina Faist, who is cooperating as specialist for the Assyrian language with the archaeological project at Tübingen. She used photographs of the texts, which bit by bit shed light on the history of the city and the region at the time of the Middle Assyrian Empire. To the archaeologists’ surprise, Dr. Faist was able to identify the find site as the ancient city of Mardama. As the cuneiform scripts show, it was the administrative seat of a Middle Assyrian governor. This reveals a new, previously unknown province of the empire, which straddled large parts of Northern Mesopotamia and Syria in the 13th century BC. Even the name of the Assyrian governor, Assur-nasir, and his tasks and activities are described in the tablets. “All of a sudden it became clear that our excavations had found an Assyrian governor’s palace,” says Pfälzner. At the same time, the translation reveals the location of the city named as Mardaman in Old Babylonian sources from around 1,800 BC, and which is likely to be the Assyrian Mardama. According to the sources, it was the center of a kingdom which was conquered by one of the greatest rulers of the time, Shamshi-Adad I, in 1,786 BC and integrated into his Upper Mesopotamian empire. However, a few years later it became an independent kingdom under a Hurrian ruler called Tish-ulme. A period of prosperity followed, but shortly later the city was destroyed by the Turukkaeans, people from the Zagros Mountains to the north. “The cuneiform texts and our findings from the excavations in Bassetki now make it clear that that was not the end,” Pfälzner says. “The city existed continuously and achieved a final significance as a Middle Assyrian governor’s seat between 1,250 and 1,200 BC.” The history of Mardaman can be traced back even further, to the early periods of Mesopotamian civilization. Sources from the Third Dynasty of Ur, approximately 2,100–2,000 BC, portray it as an important city on the northern periphery of the Mesopotamian empire. The oldest source goes back to the Akkadian Empire, which is considered the first empire in history. It mentions that the city was destroyed a first time around 2250 BC by Naram-Sin, the most powerful Akkadian ruler. “The clay tablets of Bassetki make an important new contribution to the geography of Mesopotamia,” the Assyriologist Betina Faist explains. This discovery may provide clues to the locations of other early cities in Mesopotamia, Pfälzner says. “Mardaman certainly rose to be an influential city and a regional kingdom, based on its position on the trade routes between Mesopotamia, Anatolia and Syria. At times it was an adversary of the great Mesopotamian powers. So the University of Tübingen’s future excavations in Bassetki are sure to yield many more exciting discoveries.” The Bronze Age city site of Bassetki was discovered in 2013 by archaeologists from the Tübingen collaborative research center 1070, ResourceCultures. The clay tablets found in 2017 had been deposited in a pottery vessel used as an archive, and had been wrapped in a thick covering of clay along with other vessels. “They may have been hidden this way shortly after the surrounding building had been destroyed. Perhaps the information inside it was meant to be protected and preserved for posterity,” Pfälzner explains. (Source: Eberhard Karls Universität Tübingen) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 53 view(s)
  • Brazileiro's Avatar
    05-18-2018, 07:10 PM
    Yes Mr Issa is still there. I believe the emails are the same still,,,here they are though anyways ifrd@warka-bank-iq.com mohammad.k.issa@warka-bank-iq.com
    4 replies | 266 view(s)
  • treasurehunter9's Avatar
    05-18-2018, 05:47 PM
    Thanks, I assume Mr. Issa is still there and same email?
    4 replies | 266 view(s)
  • Investors Iraq News's Avatar
    05-18-2018, 02:58 AM
    By John Lee. Newtechnic, which describes itself as a world leader in building engineering technology, has reportedly won the contract to design the facade and oversee the co-ordination and construction of the new Central Bank of Iraq (CBI) building in Baghdad. According to New Civil Engineer, the building, designed by Zaha Hadid Architects (ZHA), will be 172m high and will stand on a 200m by 100m podium. Chief Executive Andrew Watts said he will deploy UK- and US-based design-engineering teams to work on the project, which is expected to be completed by 2021. More here. (Source: New Civil Engineer) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 71 view(s)
  • Investors Iraq News's Avatar
    05-18-2018, 02:58 AM
    To strengthen women’s participation in national environment protection, disaster preparedness and risk response to climate action, an electronic platform was launched on “Women for Safe and Green Iraq” (WfSGI). This is an initiative of the Ministry of Health and Environment, supported by the United Nations Development Programme (UNDP). The aim of WfGSI is to provide space for dialogue, technical discussions, and develop consensus and collective inputs to influence gender responsive policies, strategies and plans for a greener and safer Iraq. The platform will seek to create opportunities for women for continued professional development and entry points to engage and find innovative solutions for an environment-friendly and resilient country. It also raises awareness of activities and events related to gender and sustainable development issues and create a space for networking with international institutions and women’s groups. The WfSGI electronic platform was founded by a group of gender units from various Iraqi ministries, in collaboration with the UNDP in Iraq to create the first women’s forum for a safe and green Iraq. “The new platform brings together several ministries, departments from central and Regional Government towards a shared mission of promoting gender equality and empowerment of women in support of sustainable environment management, disaster risks reduction and climate change”. This was stated by the Deputy Minister for Health and Environment (MoEHNV), Mr. Jassim Al-Falahi at the launch of WfGSI. He added, “With the setting up of this platform, the Governmental institutions in Iraq will now be better aware of the importance of women’s participation in the achievement of the Sustainable Development Goals (SDGs)”. The Deputy Country Director of UNDP Operations in Iraq, Mr. Thair Shraideh said, “Women in Iraq are *more vulnerable to environment and disaster risks and hazards due to socio-cultural and structural obstacles in the way of their participation at every level in the development process and their constrained access to resources in general. There can be no sustainable development if the structural and social barriers that hold back half the population are not addressed”. Close to 125 representatives from the Government of Iraq, non-governmental organizations and disaster risk management experts and gender focal points participated* in the launch of WfGSI. UNDP*Gender Specialist, Ms.*Sundus Abbas stated that “UNDP would work with all its partners to extend support to this initiative and to ensure its sustainability.” On the occasion of the launch, the Ministry of Culture facilitated an exhibition of paintings on the theme of women and development by more than 20 women artists and painters from across the country. UNDP has been a major partner of the Government of Iraq in addressing the challenges in areas of environment, energy, and disaster and climate risks management. Environmental protection is core to UNDP’s development mandate. The Environment, Energy and Climate Change (EECC) programme cluster responds to the national challenges through a host of projects that aim to promote resilience based development in Iraq by addressing the root causes, risks and mitigation measures associated with environmental degradation, climate change and disasters shocks. In so doing, UNDP’s strategy is to capacitate the relevant ministries, departments and the regional authorities to fulfil their obligations and commitments in terms of policy, legal and regulatory functions. (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 57 view(s)
  • Wolverine's Avatar
    05-18-2018, 02:26 AM
    6708 replies | 502507 view(s)
  • Wolverine's Avatar
    05-18-2018, 02:25 AM
    Just sharing the LOVE, sir !
    6708 replies | 502507 view(s)
  • James's Avatar
    05-17-2018, 08:52 PM
    James replied to a thread email, banking links in Warka Bank News
    https://onlinebanking.warka-bank-iq.com/IBS/index.jsp But if you have not login recently you will probably need to get your password updated by emailing them.
    4 replies | 266 view(s)
  • treasurehunter9's Avatar
    05-17-2018, 06:25 PM
    Hi, Has the Warka online banking link or emails have changed? I haven't been following for years.. and looking to logon and thought I would check first. Thanks
    4 replies | 266 view(s)
  • Investors Iraq News's Avatar
    05-17-2018, 12:13 PM
    By John Lee. Shares in Genel Energy were trading up 8 percent on Thursday morning after the company announced a big jump in cash reserves and positive developments at Peshkabir: Stephen Whyte (pictured), Chairman of GenelEnergy plc gave the following update at the company’s Annual General Meeting this morning: “After a landmark 2017, Genel is continuing to build momentum and generate significant amounts of cash, successfully progressing our strategy as we strive to create value for shareholders. Payments from the Kurdistan Regional Government (‘KRG’) have remained regular in 2018, and Genel has received over $100 million in the year so far. We are now approaching three years of consistent payments from the KRG. “Our firm focus on capital discipline and identifying the best route to shareholder value creation has converted a material portion of these revenues into free cash flow, and our cash continues to grow at pace. This has led to a material improvement in our financial strength: as at 1 May 2018, unrestricted cash balances stood at $208 million ($162 million at 31 December 2017), with IFRS net debt at $89 million, a reduction of $46 million in the first four months of the year. “Our disciplined capital allocation strategy targets those opportunities that can create maximum value for shareholders. Given the potential and performance of the Peshkabir field, this is the focus of our capital expenditure in the first half of 2018, as the field offers exciting near-term production upside. “The first three of the six wells planned at Peshkabir have progressed on time and on budget. The Peshkabir-4 well is set to begin testing imminently, Peshkabir-5 has reached target depth and will be testing shortly, and Peshkabir-6 is drilling ahead. “As the operator DNO has stated, production of 30,000 bopd is being targeted by the summer, doubling the 15,000 bopd from the field in the year to date – with the potential for more to follow. As Peshkabir cash flows benefit from the Receivable Settlement Agreement, and the oil price is continuing to show strength, this increase in production promises a further increase in cash flow from the Tawke PSC. “Away from Peshkabir, the Tawke-48 well was brought onstream in April at more than 5,000 bopd, and additional development wells will follow in 2018 following mobilisation of a fourth rig. At Taq Taq, current gross production is just under 13,000 bopd, ahead of the resumption of drilling in the second half of the year. “Our existing portfolio offers material growth potential, with Peshkabir the first of many opportunities, and we have the flexibility to move forward with those opportunities that can create the most value. Bina Bawi and Miran retain transformational potential, both in terms of gas and oil. The upstream part of the gas project has been materially de-risked and light oil at Bina Bawi offers an exciting opportunity, the progression of which is a key focus. “As work continues to generate value from our current assets, we also have the financial strength to add assets that build on the strengths of our portfolio. Governed by strict investment criteria prioritising areas with low to moderate political risk while retaining a focus on significant cash generation, Genel has the potential to develop a rich funnel of opportunities and in turn fulfil our strategic ambition of being a world-class independent E&P creator of shareholder value. “We have a clear strategy, material growth opportunities, and the right management team to deliver on that strategy.” Genel will announce results for the six months ending 30 June 2018 on Tuesday 7 August 2018. (Sources: Genel Energy, Yahoo!) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 73 view(s)
  • Investors Iraq News's Avatar
    05-17-2018, 12:13 PM
    By John Lee. The Ministry of Oil has said that investors interested in th3e 70,000-bpd Diwaniya refinery project have until the end of July to submit documents. The full statement from the Ministry is shown below: The ministry of oil would like to Re-announce for the investment refinery in Diwaniya governorate with a capacity of 70 thousand barrels / day. re-announced for the investment refinery in Diwaniya governorate with a capacity of 70 thousand barrels / day. The execution is according to the methods of BOOT or BOO and according to the investment law of the refineries No.64 for the year 2007 and its amendments. The products of the refinery must be environment friendly according to the international standards. The tax breaks must be according to the investment law No.13 for the year 2006. In accordance with the second amendment of the investment law No.64 for the year 2007. The subtraction on the crude oil price over the ship is (8%) “The subtraction must be more than 5$ and less than 10$ of the global price”. The studies, planning and follow-up directorate in the ministry of oil have prepared the data portfolio of the refinery and the price of the data portfolio shall be (30) thousand dollars “nonrefundable”. The closing date of selling data portfolios is at the end of the work hours of Thursday the 14th of June 2018. The receipt of the documents from the companies whom would like to invest in the above mentioned refinery must be to the end of the work hours of Tuesday the 31st of July 2018. The presentation of the documents will be to the Studies Planning & Follow-up Directorate directly in a closed envelop. Otherwise the documents will be rejected. For further information please contact the E-mails (studies@oil.gov.iq) or (studies.oil@gmail.com). (Source: Ministry of Oil) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 71 view(s)
  • Investors Iraq News's Avatar
    05-17-2018, 12:13 PM
    DNO ASA, the Norwegian oil and gas company with operations in Iraqi Kurdistan, is contemplating the issuance of a new, five-year senior unsecured bond with a minimum size of USD 400 million through a private placement. The coupon rate and the issue size will be determined during the accelerated book building commencing today. The net proceeds from the contemplated bond issue will be used towards the refinancing of DNO’s existing DNO01 bond (ISIN NO 0010740392) and for general corporate purposes. Existing DNO01 bondholders that participate in the contemplated new bond issue will be given the opportunity to offer part or all of their DNO01 bonds at 103.25 percent of par plus accrued interest at settlement of the contemplated new bond issue. Pareto Securities AS is acting as lead manager and bookrunner with Danske Bank and SpareBank 1 Markets AS acting as co-managers and bookrunners. (Source: DNO) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 76 view(s)
  • Investors Iraq News's Avatar
    05-17-2018, 12:13 PM
    By Padraig O’Hannelly. Hussein Al-Alak (pictured below) will run the Manchester 10k on Sunday on behalf of the*AMAR International Charitable Foundation. He commented: “It’s the only charity in the United Kingdom that supports health, education and, more importantly, mental health programmes, in Iraq … “You’ve got a lot of amazing causes and it’s nice to be able to say: ‘This is what we’re doing at AMAR’.“ You can help AMAR in its essential work in Iraq by donating here. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 69 view(s)
  • Screaming Eagle's Avatar
    05-17-2018, 08:19 AM
    Thanks for the info Wolverine!!!!
    6708 replies | 502507 view(s)
  • crazyfrank's Avatar
    05-17-2018, 03:10 AM
    next subject please now..........
    88 replies | 13642 view(s)
  • crazyfrank's Avatar
    05-16-2018, 06:04 PM
    Dinar Shore, I do not fully understand your question, but if what you say is correct and all your holdings are already in your good name. Then you need to establish communication with the 3044 address at warka. Now that's a chore in itself, from what I am seeing what ever your current e-mail provider is, has a lot to do with establishing communications. I suggest if you do not have a G-MAIL account now, its time to get one. Use it then to send correspondence and to open a channel, it appears to take 4 to 5 days for a response, not counting weekends. Also now being the Ramadan holidays they are all off duty for the next 2 weeks, so add that into your waiting time, until mid June 2018. Provide account identification and send correspondence to both Mr. I's address, as well as the 3044 office mail address. From: 3044 3044@warka-bank-iq.com] Sent: Tuesday, May 15, 2018 9:49 AM To: Mohammad K. ISSA <ifrd@warka-bank-iq.com> (ifrd@warka-bank-iq.com) Subject: RE: Fwd: WARKA STOCK CERTIFICATE EMAIL Begin by requesting your ...Please find attached your electronic stock statement as issued by the ISX depository system.
    13 replies | 796 view(s)
  • Wolverine's Avatar
    05-16-2018, 05:50 PM
    For those psychotics who are somehow suggesting that President Trump has not accomplished anything, here you go. In point of fact President Trump has accomplished more in one year than Barack did in eight. CLICK HERE !!!
    6708 replies | 502507 view(s)
  • dinar shore's Avatar
    05-16-2018, 04:32 PM
    Hi guys, This is dinar shore and I need some guidance on how to start getting all my shares to Mr. Issa. I would appreciate what the steps are. All of my shares are in my name and think that is better if I recall. Someone please. Thankls. dinar shore
    13 replies | 796 view(s)
  • What If....'s Avatar
    05-16-2018, 04:10 PM
    Mich cuatro I finally got a response from Mr I. two weeks and 10 emails later after mailing my certified docs. But only saying they needed a email copy/scan of them (which I had sent weeks before). I've sent two more asking about transfers with no response and only an email receipt saying they were delivered/read. Don't know how this will all workout for everyone, even if you already have stocks in your name at Warka. I'm just glad I don't have 50k plus tied up in it, and given the last 15yrs I'm not expecting much from the next 15, but who knows.
    13 replies | 796 view(s)
  • Investors Iraq News's Avatar
    05-16-2018, 03:15 PM
    By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Fifth Energy Bidding Round: Poor Management, Dubious Contracts and Bad Results – Attracted Unprecedented OppositionProminent Iraqi oil experts and professionals drafted and endorsed a unified position’ statement (UPS) addressed to the three Presidencies; of the Republic, of the Cabinet and of the Parliament. The UPS provides thorough assessment of both the outcome of this bid round and related dubious two model contracts; it opposes and rejects the results and calls upon the Presidencies not to ratify any contracts relating to this bid round. The UPS, written in Arabic, was disseminated widely inside Iraq and was posted on 9 May onwards on many websites. Most of the 31 Iraqi oil experts who issued, and their names appears in, the UPS have many decades of leading positions and extensive work experience in the petroleum sector. For nearly ten years, this is the first time that so many well-known and respected petroleum technocrats come together to issue a unified, strong and specific statement. This in fact is a manifestation of their concern on the gravity of the danger that could undermine the national interest by these contracts and those behind them. UPS came as a culmination of individual and collective efforts and contributions that were provoked by the fact that these contracts offer unprecedented concessions to the IOCs in post 2003 Iraq, especially when the model contracts were posted and analyzed. In addition to been the Coordinator for UPS, I wrote a series of contributions (in Arabic) and shared them with my very extensive network of contacts as well as posting them on many websites for wider readership. There was considerable attention to this bid round since it was first perceived by the Ministry of Oil-MoO in July last year ( http://www.iraq-businessnews.com/2017/07/21/important-oil-projects-dubious-non-transparent-contracts/ ) but the recent debate had actually impacted directly by the sequence of events pertaining to the bid round. Much of the concerns prior to holding the bidding focused primarily on the “secrecy of the contracts”.* MoO announced on 13 April it has prepared two model contracts: The first is for the already discovered and, some, producing oilfields- Development and Production Contract (DPC); and the second is for the exploration blocks- Exploration, Development and Production Contract (EDPC). The Ministry said it sent the two model contracts together with the Final Tender Protocol-FTP and Bidding Information to the IOCs that bought data package. But the Ministry broke with its transparent practices, followed by the previous bid rounds, of announcing and posting the model contracts, the FTP and bidding information well ahead of the bid round. This time, it did not. And when I asked why, their answer was it is a matter of “confidentiality”. That prompted me to not only refuting the confidentiality alibi based on comparative assessment with past practices, but also put that within the environment of secrecy and non-transparency that dominates the ministry since the last ministerial shakeup of August 2016 (see my article in Arabic ???? ???? ????? ????? ????????? ?????????? ????? ??????? ??? http://www.akhbaar.org/home/2018/4/243077.html posted on 17 April 2018) As usual, I posted the above article to my network, including one particular list comprising the three presidencies, senior officers at the Council of Ministers, former oil ministers and most seniors at the ministry of oil. This list witnessed an exchange of lengthy emails between the DG of PCLD at the MoO, Abdul Mahdy Al-Ameedi, and I. The bidding round finally took place on 26 April. The formal announcement by the MoO was extremely brief and just mentioned a few names of IOCs. One contact posted to me the actual bids on each “area”, by whom, who were the winners, what was the bidding parameter that was announced by the Ministry prior to each bid and other information. Based on the communicated information it became apparent how dreadful the results were for Iraq. I, again wrote a new article analyzing the process, the legal questions regarding IOCs qualifications, the lack of competition, the outcome of the bidding, among others. Similar to previous article I disseminated a new article highlighting how disadvantageous the outcomes are for Iraq and, thus, called for immediate and complete rejection of the bid round (???? ???????? ???????: ??????? ???? ??? ???? ??????? ???? http://www.akhbaar.org/home/2018/4/243448.html posted on 27 April 2018). The Ministry was compelled to post the two model contracts two days after convening the bid round; and there was a further shock! After reading the DPC model I wrote and communicated a third article specifying the main flaws of the contract, its poor text, shaky premises, wrong price equation and how it favors IOCs against Iraqi interests; it was posted on 4 May and also in Arabic (???? ??????- ???? ???? ???????? ??????? ???? ?? ??????? http://www.akhbaar.org/home/2018/5/243755.html posted on 4 May 2018) In this last article I reiterated the call to cancel the bid round not only for its disadvantageous results but also due to extremely bad contract models. Moreover, I called the Cabinet to refute the contract for East Baghdad oilfield recently concluded with a Chinese company because this contract has similar structure to those used for this bid round. The last two articles led to another, but more heated, exchange of emails between Al-Ameedi and I within the same list of high government officials. In this debate I requested a launching of formal investigation to be done collectively by the Independent Integrity Commission, the Parliamentary Integrity Committee, the Inspector General at the Ministry of Oil and the Federal Supreme Board of Audit. The debate was interrupted by the national election and hopefully would be resumed regardless of the election results!!! Below is the full Arabic text of the unified position by the 31 Iraqi oil experts above mentioned and was posted on http://www.akhbaar.org/home/2018/5/243940.html ????? ????? ?? ?????? ??????? ??????? ????? ????? ???? ???????? ??????? ????? ???? ????????? ??????? ?????? ???? ?????? ???? ??????? ????????? ??????? ??????? ???? ?????? ???????? ??????? ????????? ??????? ??????? ?????????? ?????? ??????? ???????? ????????? ????????? * ??? ????? ????? ????????? ???????? ??????? ?????? ???? ??????? ??? ????? ???? ???????? ??????? ??????? (???????) ?????? ?????? ?????? ???? ????? ??? ??? ??????? ??????? ???????? ???? ??? ???? ??????: ???????? ?????? ?????? ?????? ??? ?? ????? ????? ??? ??????? ?????? ?? ?? ???? ??????? ????????? ??? ??? ???????? ??? ?? ?? ???? ??? ?????? ???? ????? ????? ???? ??? ?????. ??? ??????? ?????? ????????? ?????? ???????? ?????????? ???????? ??????? ????? ????? ???? ????? ??????? ????? ?????? ??? ??? ?????? ???? ???????? ????? ???? ??????? ??????? ???????? ????? ?? ????? ?????? ??? ???? ?????? ??????? ?? ????????? ?????? ?? ?????? ??????? ???????. ????? ??? ?????????? ?????? ???????? ???? ??????? ???????? ??? ???: ??-*** ?????? ????? ??? ?????? ?? ?????? ????? ????? ??? ??????? ???? ????? ?????? ??????? ??? ??????? ?? ??????? ??????? ????? ?????? ????? ??? 20 ??? ?34 ???? ??-* ?????? ????? ?????? ????? ?????? ??-*** ????? ???? ??? ????? ??????? ?? ??????? ????????? ????????? (???????? ?????? ??)? ??-**** ?????? ???? ???? ??????? ????? ?????????? ?????? ????? ?? ???? ????? ??? ????? ?? ????? ??????? ??-** ??? ????? ?????? ?? ????????? ?????? ??? ??? ?????? ??????? (??? ????? ?????? ?????? ??????? ???????? ??????? ????? ???????? ??????? ????? ????? ???????)? ??-**** ?????? ?????? ???????? ??? ???? ??? ????????? ??? ???? ?????? *?????? ?????? ???? ??????? ???? ???? ??? ???? ????? ??????????? ???? ?????? ????????. ????? ??? ??????? ??????? ??? ???: ????: ???? ?? ????? ??? “????” ?? ??????? ???????? ???? ????? ????????? ?? ??? ?????? ??? ??????????. ??? ???? ??????? ??? ??? ???????? ?????????? ?????? ???????? ???? ??? ????????? ??? “???? ??????? ???????” ? “????? ???????? ???????”. ????? ?? ??????? ??? ?? ?? ??? ??????? ??????? ????? ?? ???? ?????? ??????????? ?? ??? ???? ????? ??????? ?????? ???????? ???? ????? ????? ???? ????? ???? ?? ???? ???? ?????? ??? ???? ?? ??????? ???? ????? ?? ???? ?? ??????? ??? ???? ?? ??????? ??? ?? ???? ????? ??? ?? ??? ??????? ???? ?? ????? ??????? ????? ?????? ?? ???? ??????? ??????. ?????: ??? ???? ?????? ??????? ?? ????? ??? ????? ?????? ??????? ??? ???? ????? ?? ??? ?????? ?????? ??? 5 % (???? ????? ??? ?????? ??????? ?? ??? ???? ??????? ???????) ??? 25 % ?? “??????? ???????”. ???? ???? ????? ????? ???? ??? ?????? ??????? ??????? ???????. ???? ???? ?? ??????? ?? ????? ??? ?????? ??????? ?? ?????? ??? ????? Royalty ??????? 25% ??? ????????? ??????? ?????. ?????: ?????? ????????? ??????? ?????? ??????? ???????? ?????? ????? ??????? ??? ??????? ??? ?? ?? ????????? ?? ??? ????? ???? ???? ????? ????????? ??????? ??? ?????? ????? ?? ??? ????? ?? ?? ??????? ???????. ?????: ??? ????? ????? ????? ?????? ?????** Plateau Production & Period ??? ???? ?? ?????? ?????? ???????? ??????? ?? ???? ??? ??? ?????? ????? ????? ?????? ???? ??????????? ?? ??? ??? ???? ????? ?????? ???? ??????? ???????? ???? ???? ??? ???? ????? ?? ???? ????? ??? ???????. ?????: ????? ??????? ??????? Commercial Production Rate ???? ??? ??????? ????? ?????? ??????? ?????? ?? ??????? ??????? ???? ??????? ??????? ?? ?????. ???? ?????? ??? ?? ????? ??? ??????? ????? ???? ??? ?????? ???????? ?????? 10 ??? ????? ????? ??? ???. ??? ?????? ?????? ?? ???? ?? “??????” ?? ????? ??? ??? ???????? ????? ??? ???? ???? ?????? ???? ???? ?? ???? ??? ???? ???? ??????? ????? ???. ?????: ?????? ????? ????? ??? ????? ??? ????? ????? ??? ???? 50 %*?? ??? ??? ??????? ???????? (??????? ???????). ???? ?? ??????? ??? ?????? ???? ?? ??? ?????? ????? ????? ????? ????? ????? ??????? ???????? ?????? ?????? ??? ?????? ??????? ???????: 1-*** ?? ??? ??????? ??? ??? ????? ???? ????? ????? ??? ??? ?? ????????? ?? ???? ???? ???????? ??????? ???? ??? ??? ?????? ???? ????? ??????????? ??? ??? ??? ????????? ????? ????? ?????? ???????? ??? ?? ???? ????? ?? ?????? ???????. ??? ??? ???? ?? ???????? ??? ??? ??????? ?? ????? ?????? ??????? ??? ??? ???? ?????*????? “??? ?????????” ??? ???? ?????? ???? ????? ????? ????????? ????? ??? ???????? ?????? ????? ???? ?????. 2-*** ???? “????/??????*?????? ?? ????? ??????” ?? ???? ???? ?????? ??????? (?????? ?? ???? ??????? ?????? ??????? ???) ????? ???? ???? ?? ????????? ?????? ????? (???????)? ??? ?? ??? ?????? ??????? ??? ????? ?????? ???? ??? ???? “???? ???????” ??? ?????? ?????. ?????? ???? ??? ?????? ?????? ???????? ????? ??? ?????? ????? ?????. 3-*** ????? ???? ???? ?????? ??????? (?????? ?? ???? ??????? ?????? ??????? ???) ?? ???? ?????-??*** R-factor ????? ????? ?????? ????? ?????? ?????? ??????? ??? ???????. ?????? ??? ??????? ?? ??????? ??????? ???? ????? ??? ?????? ??? ???? ??????? ????? ?????? ???????? ????? ?? ????? ??????. ??? ??? ?? ????? ??? ?????-?? ?? ???? ??? ?????? ??? ???? ????? ????? ????? ?????? ??????? ?????? ????? ????? ??????? ????????. ?????: ?????? ????? “?????? ??????” ???? ?????? ???????? ??? ???? ????? ?? ???? ????? ??????? ??????? ???? ??????? ???????? ??????? ?????? ??????. ????? ????? ??? ???????? ????????? ????? ????? ??????? ??????????? ??????????? ????? ????? ????? ??????? ???? ???: ???? ????? ????? ??????? ?????? ??????? ??? 50 ????? ??????? “????? ???? ?????” ???? ??????? “???? ???? ???? ????? ??????? ???? ????? 57 ??? 58 ????? ????? ??? 7 ?????”. ???? ??? ?? ??? ????? ???? ??????? ???? ????? ????? ?? ?????: 1-*** ?? ??? ??? ?????? ?????? ??? 20 ?25 ??? ??????? ????? ??????? ???????? ?34 ??? ??????? ????? ?????????*???????? ????????. ??? ?? ??????? ?????? ???? ??? ????? ???? ????? ??? ????? ???? ?????? ????? ?????? ???????? ??? ?????? ??? ???? ?? ???? ????? ??? ??? ??????? ????? ????? ???? ??????? ????? ?? ?? ??? ???? ?????????!!!! 2-*** ???? ????????? ??????? ??????? ????? ?? ???? ??? ????? ????? ??????? ??? ???? 2008 ?????? ????? 2018 (?? ???? 118 ???) ??? 74 ????? ???????? ?? 48 % ???? ?? ????? ??????? ?? ??? ???????!!! ?????? ????? ??? ?????????? ??????? ??? ?????? ????? 3-*** ???? ?????? ????? ??? ??? ????? ??????? ??? ?? 50 ????? ?? 34 ???? ??? ?? ????? 118 ???? 6 ???? ?? ????? ???? 2008 ???? ????? 2009? 3 ???? ?? ????? ???? ??? ???? 2015 ?25 ???? ?? ?? 2015 ??? ?? 2017. ???? ???? ?? 28.8% ??? ?? ????? ?????? ??? ???? 2008 ???? ????? ????? ???? ??? ?? 50 ?????. ?????? ?? ????? ??????? ??? ??? ??????? ??? ????? ????!!??? 4-*** ?? ?????? ??? ??????? ???????? ????????? ???????? ???????** Indexation ?? ??? ?????? ??? ?? ??? “??????” ?????? ????? ??? ???? ????? ???????? ????? ????? ?? ????*??????? ????? ????????. ???? ??? 2017 ??? ??????? ????? ????? ?????? ???? ??? ??? ??????? ????? ????? ???? ???? ??????? ??? ????? ?????. ?????? ?? ????? ??? ????????? ??????? ????????!!?? 5-*** ???? ?? ??????? ?? ??? ???????? ???? ??? ????? ??????? ???????? ????? ?????? ??? ???? ????? ????? ??? ??????? ????????? ?????? ????? ????? ?????? ????? ??? ????? ????? ??????? ???????? ??????!!?? 6-*** ???? ???????? ?????? ?????? ????? ???? ???? ????? ??? ????????*??????? ???????? ???? ??? ?????? ????? ?????*?? ???? ?????? ????????? ??? ?????*50 ????? ??????? ???? ?? ??????? ??????? ?? ???????? ?? ???????. ????? ??? ????? ??????? ???? ??????? ???? ??????? ?? ??? ????? ??? 61.85*?????- ?? 23.7 % ??? ??? ?????? ???????? ?? ??? ???? ????????!! ?????? ??? ???? ?? ???? ??? 50 ????? ????? ?? ?????? ??? ?????? ???????? ?? “?????? ??????”*???? ???????? ??? ????? ??? ????? ????? ??????? ????? ????? ??? ??? ?????? ??????? ????. ????????? ????? ???? ?? ??????? ???? ????? ?????*23.7 % ?? ????? ?? “?????? ??????” ??? ??? ????? ?????. ??? ??????? ????? ?????????? ?????? ????? ???? ????? ??? ?? “???? ?????? ??????” ??????? ???????? ?????? ???? 30 % ????? ???? ????? ????? ????? ?? ??? ?? 21.5 ????? ?????? ???? ?????? 70%. ???? ???? ????????? ???????: 1-*** ?? ???? ??????? ??? ?? ????? ??? ?????? ??? ??? ??? ????? ???????? ????????? ???? ????? ?????? 2-*** ?? ???? ????? ????? ??? ?????? ????? ??? ????? ??????? ??? ???? 2008 ???? ????. ??? ???? ??? ??? 22.21 ????? ????? ???? ??? ??? ????? ???? 2016. ??? ?? ?????? ???????? ?? ????? ??? ????? ??????? ????? ?????? ????? ??? ????? ????? ??????????!!! 3-*** ????? ???? ???????? ?????? ????? ????? ??????? ??? ??? ??????? ????? ?????*??? ??? ??? ????? ?? ????? ?? ???? ?? ????? ?????? ??? ???? ?? ??????? ??????? ???????? ?? ?????? ????????? ???? ????? ???? 70% ?????? ???????? ??????.!! 4-*** ??????? ?? ?? ??? ?? ????? ?? ???? ????? ???? ???? ????? ?????? ?????? ??? ??????? ????? ?????????? ??????? ???? ??? ????? ?? ????? ?????-?? ??? ??? ?????. ?????? ??? ???? ?? ??? ??????? ?????? ?????? ????? ???????? ???????? ?????? ???? ??????? ???????? ?????? ?? ????? ??????. ?????: ??????? ?? ??????? ??????? ???????? ?????? ?????? ??????? ?? ????? ????????? ?????? ?? ????? ?????? ?????? ?? “????? ???? ????? ????? ???????” (?????? 112 –?????)? ??? ???? ?????? ???????? (??? 2015) ??? ” ??? ????? ?????? ?????????? ….. ?????? ??????? ?????? ???? ???????? ???????? ???? ?????? ?? ????? ?????”. ???? ?? ????? ?????? ???? ?? ????? ???? ????? ????? ??????? ?? ???? ??? ?????? ???? ??? ?????? ??? ?????? ????? ????? ???????? ?? ?????- ??? ??? ?????- ???? ????? ?????? ????????????? ??? ??? ????? ???? ?? ?? “???” ??? ???? ????? ?? ??????? ??????? ?????????-???????- ????? ?????? ??????? ??? 2010. ????? ???? ???? ??? ?? ??????? ?? ???? ????? ?? ??????? ??????? ?????? ???? ????? ??????? ???? ?????? ???? ??????? ?????? ??? ??? ???? ????? ?????? ?????? ??? ?????? ??????? ???????? ????? ???? ????? ????? ??????? ????? ??????? ?????? ?? ????? ???? ???? ??????? ??????? ?? ?????. ?? ??? ?? ???? ????? ????? ?? ?? ???? ??????? ????????? ??? ??? ???????? ??? ?? ?? ?????? ?????? ???? ?????? ???? ????? ????? ???? ??? ?????. ???????? 1-???? ????? 2-???? ????????? ??????? 3-??? ?????? ??????? 4-?. ???? ???????? 5-?. ???? ???????? 6-?. ???? ??? ????? 7-???? ???? ??????? 8-?. ???? *????? ?????? 9-?. ???? ???? ???????? 10-?. ???? ???? *??????? 11-???? ??????? 12-?. ????? ????? ??? ?????? ? 13-?. ????? ??????? 14-????????? ???? ???? ?????????? 15-???? ???? 16-??? ???? ???? ?????? 17-???? ??? ???? ???????? 18-?. ???? *??? ??????? 19 -??? ???? ????? 20-???? ??????? 21-???? ???????* ?????? 22-??? ???? *??????? 23 -???? ???? ???????? *24-???? ????? ???????? 25-??? ??? ?????? ????????* 26-??? ???? ??? ??????? 27- ???? ???? ??????? 28 -?? ??? ??? ??????? 29 – ?. ???? ?????? 30-*????* ???? ???? (???? ??? ?????? ??????) . ???? ?????? ????? ??? ???? ???? ???? ?? ???? ??????? ????????? ???? ???? ???? (???? ?????? ?????? ?????? ????? ?????????) ???????? ??????? ????????/ ?????? ??????? 8 ???? 2018 Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here. Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    05-16-2018, 03:15 PM
    The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hizballah. They were designated as Specially Designated Global Terrorists (SDGTs) pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism. “Iran’s Central Bank Governor covertly funneled millions of dollars on behalf of the IRGC-QF through Iraq-based al-Bilad Islamic Bank to enrich and support the violent and radical agenda of Hizballah.* It is appalling, but not surprising, that Iran’s senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor,” said Treasury Secretary Steven T. Mnuchin. “The United States will not permit Iran’s increasingly brazen abuse of the international financial system.* The global community must remain vigilant against Iran’s deceptive efforts to provide financial support to its terrorist proxies.” Today’s action cuts off Iran’s use of a critical banking network and follows last Thursday’s disruption of an IRGC-QF-associated currency exchange network procuring millions of dollars through the UAE.* Both actions seek to stifle Iran’s ability to abuse the U.S. and regional financial systems.* These actions continue the aggressive campaign against the IRGC and its proxies that the Treasury Department has led under this Administration. These actions build upon President Trump’s May 8 decision to cease the United States’ participation in the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. sanctions that had been lifted under the JCPOA, including against the Central Bank of Iran. The IRGC-QF was designated pursuant to E.O. 13224 on October 25, 2007.* The IRGC-QF’s parent organization, the Islamic Revolutionary Guard Corps (IRGC) itself was also designated on October 13, 2017 pursuant to E.O. 13224 for its support to the IRGC-QF, and consistent with the Countering America’s Adversaries Through Sanctions Act. Hizballah was designated by the Department of State as a Foreign Terrorist Organization in October 1997 and as an SDGT pursuant to E.O. 13224 in October 2001.* It was listed in January 1995 in the Annex to E.O. 12947, which targets terrorists who threaten to disrupt the Middle East peace process, and also designated in August 2012 pursuant to E.O. 13582, which targets the Government of Syria and its supporters. Iran’s Central Bank Governor and a Senior Staff Officer OFAC is designating Valiollah Seif, Iran’s Central Bank Governor, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.* Seif has conspired with the IRGC-QF to move millions of dollars through the international financial system in a variety of foreign currencies to allow the IRGC*QF to fund its activities abroad.* Seif has also supported the transfer of IRGC-QF-associated funds to al-Bilad Islamic Bank, an Iraq-based bank which is also being designated today. OFAC also is designating Ali Tarzali, the assistant director of the International Department at the Central Bank of Iran, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.* Tarzali has worked with Hizballah and proposed that the terrorist group send funds through Iraq-based al-Bilad Islamic Bank. As a result of today’s actions, Veifollah Seif and Ali Tarzali are subject to secondary sanctions pursuant to the Iranian Financial Sanctions Regulations (IFSR), which implement, among other authorities, the Comprehensive Iran Sanctions and Divestment Act of 2010 (CISADA).* Pursuant to the IFSR, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for designated agents or affiliates of the IRGC or persons designated pursuant to E.O. 13224 in connection with Iran’s support for international terrorism or E.O. 13382 in connection with Iran’s proliferation of weapons of mass destruction and their means of delivery. Today’s designations of Valiollah Seif, Iran’s Central Bank Governor, and Ali Tarzali, assistant director of the International Department at the Central Bank of Iran, do not extend to the Central Bank of Iran.* However, due to President Trump’s May 8, 2018 decision to cease the United States’ participation in the JCPOA, as of August 7, 2018, the United States Government will re-impose sanctions that extend to certain transactions with the Central Bank of Iran, including sanctions on the purchase or acquisition of U.S. dollars banknotes by the Government of Iran.* Furthermore, on November 5, 2018, additional sanctions will be re-imposed on persons knowingly engaging in certain significant transactions with the Central Bank of Iran. Al-Bilad Islamic Bank and Its Chairman and Chief Executive OFAC is designating Aras Habib, the Chairman and Chief Executive of Al-Bilad Islamic Bank, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.* Aras Habib enabled the IRGC-QF’s exploitation of Iraq’s banking sector to move funds from Tehran to Hizballah, jeopardizing the integrity of the Iraqi financial system.* Habib, who has a history of serving as a conduit for financial disbursements from the IRGC-QF to Iranian-backed Iraqi groups, has also helped provide IRGC-QF financial support to Lebanese Hizballah.* Al-Bilad Islamic Bank is being designated for being owned or controlled by Aras Habib. As a result of today’s actions, Aras Habib and Al-Bilad Bank are subject to secondary sanctions pursuant to the IFSR, which implement, among other authorities, CISADA.* Pursuant to the IFSR, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for designated agents or affiliates of the IRGC or persons designated pursuant to E.O. 13224 in connection with Iran’s support for international terrorism or E.O. 13382 in connection with Iran’s proliferation of weapons of mass destruction and their means of delivery. Hizballah Official Working with IRGC-QF OFAC is designating Muhammad Qasir (Qasir) for acting for or on behalf of Hizballah.* Qasir acted as a critical conduit for financial disbursements from the IRGC-QF to Hizballah.* Qasir has worked with the IRGC-QF to transfer funds. Qasir is subject to secondary sanctions pursuant to the Hizballah Financial Sanctions Regulations, which implements the Hizballah International Financing Prevention Act of 2015.* Pursuant to this authority, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for Hizballah, or a person acting on behalf of or at the direction of, or owned or controlled by, Hizballah. Identifying information on the individuals and entities designated today. (Source: U.S. Department of the Treasury) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 84 view(s)
  • Investors Iraq News's Avatar
    05-16-2018, 03:15 PM
    The United Nations Assistance Mission for Iraq (UNAMI) Human Rights Office (HRO) organized a training course in Dohuk for human rights activists and staff members of NGOs working in the field of human rights in Dohuk Governorate. The training course, entitled “Strengthening Human Rights Monitoring and Documentation Skills,” was part of a series of activities the HRO is running to support civil society organizations and regional institutions for protecting and promoting human rights in the Kurdistan Region. The training course focused on deepening participants’ understanding on key principles, legal frameworks and core skills including fact-finding missions, interviewing, and report-writing. Sessions were provided by United Nations human rights professionals. Representatives of 25 NGOs (10 women and 15 men) from Dohuk city and surrounding areas participated in the training. Mr. Zito Siany, the Human Rights Officer of HRO, stated that the training is part of the HRO program aimed supporting the NGOs in Dohuk and other KR districts to build their staff members’ capacities in monitoring and documenting violations of human rights. Participant Twana Othman, from the National Center for Human Rights (NCHR), noted that the training assisted him in acquiring knowledge about human rights monitoring principles along with his involvement in prison monitoring and holding interviews with detainees. Mr. Othman further explained: “Through this training I have learned the appropriate methods of preparing for and conducting interviews with the victims and have gained substantial knowledge regarding the state’s obligations towards the ratified international human rights treaties, and how to make the best use of United Nations Human Rights Conventional and Unconventional Mechanisms to protect and promote human rights.” (Source: UN) (Picture: Human rights, from igorstevanovic/Shutterstock) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 76 view(s)
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