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  • calstar's Avatar
    Today, 06:17 PM
    calstar replied to a thread Warka Bank news? in Warka Bank News
    Me too!!!!!
    2 replies | 104 view(s)
  • Wolverine's Avatar
    Today, 03:16 PM
    Iraq and BP sign deal to boost Kirkuk crude output 1/18/2018 KIRKUK/BAGHDAD, Iraq, Jan 18 (Reuters) - Iraq signed a memorandum of understanding with BP on Thursday to boost production capacity at its northern Kirkuk oilfields, the country's oil ministry said in a statement. The oilfields were taken back under Baghdad's control last October after Iraqi government forces dislodged Kurdish fighters from the area. Oil Minister Jabar al-Luaibi and BP's president for the Middle East region, Michael Townshend, attended the signing ceremony at the Kirkuk office of the Iraqi state-run North Oil Company, which operates the fields, the ministry said. The agreement provides for BP to boost Kirkuk's output capacity to 750,000 barrels per day (bpd), more than twice existing capacity, the statement added, citing Townshend. "The company will carry out seismic survey operations and and studies to develop the fields," the ministry statement quoted the BP executive as saying. Luaibi initiated the talks with BP in October, only days after the Kurdish fighters were driven from the area. Oil exports from the field, transported by pipeline to Turkey, halted after the Iraqi military operation, which was conducted in retaliation against an independence referendum held on Sept. 25 by the semi-autonomous Kurdistan Regional Government (KRG). Iraq plans to start trucking crude from Kirkuk to Iran at the end of the month. BP had agreed in 2013 to help Baghdad to halt a huge decline in output from Kirkuk. The KRG took control of the Kirkuk region in 2014, when the Iraqi army collapsed in the face of Islamic State's sweeping advance in northern and western Iraq. The Kurdish move prevented the fields from falling into the hands of the militants. Iraq is the Organisation of Petroleum Exporting Countries' second-largest producer behind Saudi Arabia. Luaibi said on Saturday that Iraq oil output capacity is nearing 5 million bpd. However, it is currently producing 4.4 million bpd in compliance with an agreement between oil exporters to support crude prices. (Writing by Maher Chmaytelli; Editing by Gareth Jones and David Goodman) Kirkuk is one of the biggest and oldest oilfields in the Middle East, estimated to contain about 9 billion barrels of recoverable oil, according to BP. BP has provided technical assistance in the past to the North Oil to aid the redevelopment of the Kirkuk field.
    0 replies | 25 view(s)
  • Mo Dinar's Avatar
    Today, 01:18 AM
    Mo Dinar replied to a thread Warka Bank news? in Warka Bank News
    Still trying to get an acknowledgement from Warka regarding my request to reset my account password for Online Banking... aaarrrgghh!
    2 replies | 104 view(s)
  • Investors Iraq News's Avatar
    Today, 12:10 AM
    By Mahmut Bozarslan for Al Monitor.*Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. The partnership Turkey, Iran and Iraq*formed against the Kurdistan Regional Government (KRG) independence referendum in September has*left Tehran pleased*but*left Ankara severely disappointed. Ankara had two basic expectations about*the partnership. First, Turkish officials*believed that a*new pipeline would be built to carry oil from Kirkuk,*Iraq, to Turkey’s Ceyhan oil terminal, replacing*a damaged line and*bypassing the KRG. And second, as an alternative to the border crossing from Habur, Turkey, into Iraq —*which provides lucrative income to the KRG —*a new border crossing to Iraq would open at Ovacik in Turkey. Ankara calculated that a crossing at*Ovacik, at the junction of Iraqi-Syrian-Turkish borders, would: Deprive the KRG of income from customs taxes. Provide a*shorter road connection*between Tal Afar and Mosul, which*features in Turkey’s “New Ottoman” dreams. Strengthen*relations with Turkmens and sever the*connection between the Kurdistan Workers*Party (PKK) at the Yazidi town of Sinjar*and the Kurdish Rojava region in northern Syria. Be linked to the main highway to Mosul with a 120-kilometer (75-mile) road upgraded to international standards and a new bridge to be built over the Tigris River. But the Ovacik project*has been shelved*and an alternative pipeline plan*—*involving Iran —*has emerged,*marginalizing the proposed new pipeline to move*oil from Kirkuk to Ceyhan. For three years, the*KRG*sold oil from the*Kirkuk-Ceyhan pipeline. But the central government in Baghdad took over the Kirkuk oil fields after the Kurds threatened in September to seek independence. On Oct. 16,*Baghdad implied*that the Kirkuk oil would be sent out via Turkey as in the past.*The pipeline had been used irregularly during the battle against the Islamic State (IS), and Baghdad cut off the flow completely*after the September independence referendum. Turkey expected the flow to*resume — but it hasn’t. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 28 view(s)
  • Investors Iraq News's Avatar
    Today, 12:10 AM
    By John Lee. Genel Energy has announced that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sales during October 2017. Genel’s net share of the payment is $5.55 million. (Source: Genel Energy) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Investors Iraq News's Avatar
    Today, 12:10 AM
    Iran’s president called for stronger banking relations with Iraq to allow for a growth in the bilateral trade and economic cooperation. In a meeting with Iraq’s parliament speaker in Tehran on Tuesday, President Hassan Rouhani said expansion of economic and trade ties between the two neighbors hinges on enhanced baking relations. The central banks of Iran and Iraq need to promote cooperation and keep working together to contribute to the bilateral trade, he added. The president also hailed the Iraqi government’s success to defeat terrorism and thwart the hostile plots to foment discord in the Arab country, reiterating Tehran’s support for an integrated Iraq and opposition to any change in the borders of regional countries. For his part, Iraq’s Parliament Speaker Salim al-Jabouri expressed gratitude to Iran for supporting his nation in the fight against terrorism. Iraq is at the beginning of a new era, and looks for continued support from Iran on the road to development and reconstruction, the speaker added. The Iraqi speaker is in Iran for the 13th Conference of the Parliamentary Union of the Organization of Islamic Cooperation Member States (PUIC). Iran, a close ally of Iraq, supported the Arab nation in the fight against Daesh (ISIL) since the terrorist group invaded Iraq in summer 2014. (Source: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 12:10 AM
    As the Kurdistan Regional Government has promised, and to prove its commitment to transparency in the entire oil and gas sector of the Kurdistan Region, today the first report by the international auditing company, Deloitte, is released. The report, which includes verified numbers of export and sales of oil in the Kurdistan Region for the first six months of 2017, is available to the public. According to the validated numbers, the total revenue generated from oil sales is 3,328,211,119 US Dollars, after deducting expenses. The average oil sales price for that period was 41.29 $/bbl for exported barrel of oil through pipelines, at a time when average Dated Brent price was approximately 51.71 $/bbl. The auditing project was ordered by the Council of Ministers of the Kurdistan Regional Government through Decision No. (73) on 3rd of February 2016, as a continuation of Oil and Gas Law, and Oil and Gas Trust Fund Law. In a transparent process and in accordance with the World Bank guidelines, the Regional Council for Oil and Gas Affairs invited the Big Four international auditing firms in the world and consequently signed Master Service Agreements (“MSA”) with Deloitte and Ernst & Young, after following international tendering standards. According to the MSA’s, the oil and gas sector will be subject to audit, including the historical data. The Kurdistan Regional Government considers the auditing process as an important step for strengthening transparency in the oil and gas sector of the Kurdistan Region. The KRG has approved Deloitte’s recommendations to further enhance the processes and address any shortcomings. The KRG is also working to develop the accounting and auditing capabilities of the financial monitoring agencies in the Region, in order to empower them for future projects. This is the first time that reputable and major international companies audit the oil and gas sector in the Kurdistan Region. In the near future, the validated numbers for the second half of 2017, and for the past years will be released to the public. For further questions, contact information will be provided soon. Deloitte’s report for first six months of 2017 is accessible through this link (PDF format), in Kurdish, Arabic, and English. This link (PDF format) consists of 27 frequently asked questions in Kurdish, Arabic and English to help the readers better understand different sections of the report. This link (PDF format) includes a snapshot (info-graphics) regarding oil exports, local consumption and revenues in the Kurdistan Region, especially average daily exports and daily price of Kurdistan Region’s oil compared to Dated Brent price for the first six months of 2017 in Kurdish, Arabic and English. (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 12:10 AM
    By John Lee. The number of civilian contractors supporting U.S. and coalition operations in Iraq against the Islamic State has risen 37 percent from January 2017 to January 2018 — from 3,592 to 4,927 — according CENTCOM: Contractors supporting base operations rose from 564 contractors at the start of the period to 827 contractors currently; Contracted translators rose from 377 to 805; Contractors supporting logistics and maintenance rose from 1,156 to 1,480. More from Military Times here. (Source: Military Times) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 27 view(s)
  • Lenmon's Avatar
    Yesterday, 11:26 PM
    https://www.facebook.com/permalink.php?story_fbid=1322841997819893&id=125804980856940
    2 replies | 104 view(s)
  • jonas's Avatar
    Yesterday, 07:20 PM
    jonas started a thread New Doc in Iraqi Bank Accounts
    Can anyone translate this document? https://www.imeib.com/upload/upfile/en/117.pdf
    0 replies | 71 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 06:10 AM
    Now It's moving..... LOOK AT THE EXCHANGE RATE
    46 replies | 4983 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:11 AM
    Iraq Business News is proud to announce that our Expert Blogger Ahmed Mousa Jiyad has just contributed to a major new book on the regulation of the upstream oil and gas industry. The second edition of Upstream Law and Regulation: A Global Guide, published by Globe Law and Business, summarises the upstream regulation and the key concerns in over 30 important and emerging oil and gas jurisdictions. Globe Law and Business offers IBN readers a 20% discount off the normal price. Please enter the code “IBNGLB” on the website checkout page to receive the discount. This fully updated new edition of the practical handbook, now in two volumes, takes an in-depth look at the most relevant petroleum provinces, summarising upstream regulation and key concerns in over 30 important and emerging oil and gas jurisdictions. Issues featured include the key terms of petroleum law, the types of legal arrangement in place, the fiscal terms, how to qualify to acquire acreage, governing law, dispute resolution mechanisms, decommissioning and governmental control. As a result, the book provides a comprehensive global resource for upstream investments. New areas of coverage for this edition include Algeria, Ecuador, Israel, Lebanon, Morocco and Oman. Mr Jiyad has written the chapter on Iraq, and we are sure that this will be an important resource for oil industry professionals with an interest in Iraq’s most important sector. Congratulations Ahmed! Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 48 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    By Shelly Kittleson for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* Two months after government forces retook Iraq’s last major city from the Islamic State (IS), the country is preparing for parliamentary elections slated for May. Anbar, its largest and westernmost region, is where IS took control of its first Iraqi city in January 2014. Fighters from the international terrorist group are reportedly still hiding in parts of its vast desert. How the shift from fighting a terrorist group with roots in the area to competition at the political level plays out will affect the years to come. Provincial Gov. Mohamed al-Halbusi, who took office in the fall, told Al-Monitor that voter turnout had been very low in the province for many years due to the fear of insurgents but that he expected this to change in the upcoming elections. Local officials, security forces and a tribal leader echoed that sentiment to Al-Monitor over a number of days in the province in early January.*“About 85%” of the province’s inhabitants are home, Halbusi said, and “I think about 60% of them will vote.” However, with many of the displaced still not back in their homes, some have called for the elections to be postponed. Recent reports of forced returns from internally displaced person (IDP) camps scattered around the Sunni-dominant Anbar region and elsewhere in the country have also raised concern. In an interview in Ramadi, provincial police chief Gen. Hadi Rizej Kessar told Al-Monitor, “We decided to close all IDP camps and send families back to their homes because the security is now good. But if we have some families that remain in the camps, we can arrange for them to vote inside the camps.” Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    Number of Returns Exceeds Number of Displaced Iraqis: UN Migration AgencyFor the first time since the beginning of the Iraq crisis in December 2013, the number of people returning to their area of origin has surpassed the number of people displaced in the country. Over the past four years, the country has been deeply affected by the conflict with ISIL, which led to the displacement of nearly six million people. Prime Minister Abadi announced Iraq’s victory over ISIL on 9 December 2017; by the end of 2017 IOM, the UN Migration Agency, identified 3.2 million people, who have returned back to their place of origin, while a staggering 2.6 million remained displaced. Following the improvement of the security situation in retaken areas, a sizable number of internally displaced Iraqis have returned to their location of origin, mainly to the Governorates of Anbar (38 per cent; more than 1.2 million people), Ninewa (30 per cent; nearly 975,000 people), and Salah al-Din (14 per cent; nearly 460,000 people). These three governorates were the worst affected by ISIL’s occupation, and count for 86 per cent of the current displaced population in the country. Shortly after the operation to retake Mosul was launched in October 2016, IOM Iraq constructed two emergency displacement sites, one in Haj Ali and one in Qayara, with combined capacity of sheltering 110,000 internally displaced persons (IDPs). The sites were constructed in partnership with the Government’s Ministry of Migration and Displacement; both sites are located in the southeast of Ninewa governorate. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 52 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    By John Lee. Plans are reportedly progressing to launch a free ka-band satellite broadband service in Iraq in the second quarter of 2018. UK-based Quika promises the world’s first entirely free high-speed satellite internet for consumers in developing countries. Its free plan will be funded by paid-for services for enterprises and internet providers. According to Engadget, the company is led by the chief of satellite provider Talia. (Source: Engadget, Quika) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 47 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 04:20 PM
    Gulf Keystone Petroleum (GKP) has announced that a crude oil sales agreement has been signed between Gulf Keystone Petroleum International Ltd (“GKPI”), on behalf of the Shaikan contractors, and the Kurdistan Regional Government (KRG). Under the agreement, the KRG will purchase Shaikan crude oil at the monthly average Dated Brent oil price minus a total of c.$22 per barrel for quality discount, as well as domestic and international transportation costs. This discount is based on the same variables contained within other oil sales agreements in the Kurdistan Region of Iraq.* The majority of the Shaikan crude oil is currently being transported by truck from the Shaikan field to Fishkhabour, where it has been injected into the export pipeline to Turkey gradually since 15 November 2017, while the remainder is sold domestically.* The agreement is effective from 1 October 2017 until 31 December 2018.* GKPI will now invoice the KRG for oil sales for the months from October 2017 onwards on the basis of the realised netback price and net entitlement volumes in accordance with the Shaikan Production Sharing Contract, as amended by the 1st PSC Amendment in 2010 (“Shaikan PSC”). The Company continues its discussions with the KRG’s Ministry of Natural Resources (“MNR”) on the terms of a potential 2nd PSC Amendment. *The Company will inform the market of any material developments in this regard. (Source: GKP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 42 view(s)
  • dollarsign's Avatar
    01-16-2018, 04:13 PM
    it's on the CBI site Will-it-happen, not sure what was up with the link, apologies... Based on the objectives of the strategic plan of the Central Bank of Iraq (2016-2020), including the aim of strengthening institutional relations, the Center for Banking Studies in the Central Bank of Iraq and in cooperation with the Iraqi Stock Exchange to implement a training program for staff of the Iraqi Fund for Foreign Development, which was the subject of Investment portfolios and trading in stocks, bonds and currency markets).The training program held in the Iraqi Stock Exchange will be in phases, starting with the first stage on 2018/1/14 and continuing until 2018/1/18. $
    45 replies | 4110 view(s)
  • Wolverine's Avatar
    01-16-2018, 03:35 PM
    Iraq nears oil output capacity of 5 MMbpd, committed to OPEC cuts 1/14/2018 ABU DHABI (Reuters) - Iraqi Oil Minister Jabar al-Luaibi said on Saturday that the OPEC member's oil output capacity is nearing 5 MMbpd, but the country will remain in full compliance with its output target under a global pact to cut supplies. Luaibi said the supply cut agreement between OPEC and non-OPEC producers should continue despite a rise in oil prices. "The market now is not 100 percent stable," he said at an industry conference in Abu Dhabi, adding that current oil prices could be sustained, but there might be some fluctuations. For the week, Brent crude rose 3.3 percent, while U.S. West Texas Intermediate (WTI) crude jumped 4.7 percent, having hit its hit its strongest since late 2014 at $64.77 on Thursday. The deal between the Organization of the Petroleum Exporting Countries and Russia to cut 1.8 MMbpd of crude, which started in January 2017, is due to last until the end of 2018. Luaibi said current Iraq's oil production is about 4.3 MMbpd. Despite the increase in oil production from the United States, "so far there is a balance" in the oil market, Luaibi said. "We are watching the market and the market is okay in terms of supply and demand balance. There’s still a gap, inventories are still high. The inventory level will decrease gradually and we will see how things will go," he told reporters. Luaibi also said that his ministry plans to conclude three contracts with international gas companies by mid-2018 to utilize gas from Basra, Maysan and Nassiriyah southern provinces. He said that by 2021, the country plans to "reach zero gas flaring". Iraq is forced to flare some of the gas produced alongside crude oil as it lacks the facilities needed to capture and process it into usable fuel. The country has just one gas processing company, the Basrah Gas Company, a joint venture between Iraq's state-run South Gas Co., Shell and Mitsubishi. OPEC’s second-largest crude producer after Saudi Arabia, Iraq is seeking to increase its oil and gas income, which account for nearly all its public budget. (Writing by Rania El Gamal; Editing by Alexander Smith)
    0 replies | 53 view(s)
  • Will-it-happen?'s Avatar
    01-16-2018, 08:56 AM
    That link no work
    45 replies | 4110 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    Continued U.S. Assistance to Better Meet the Needs of Minorities in IraqThe United States Agency for International Development (USAID) and the United Nations Development Programme (UNDP) have agreed to increase assistance to Iraqis, particularly religious and ethnic minorities, to enable them to return to their homes in areas liberated from ISIS. Following Vice President Pence’s remarks in October of last year, USAID renegotiated the terms of its agreement to contribute to the UNDP Funding Facility for Stabilization (FFS) so that $55 million of a $75 million payment will address the needs of vulnerable religious and ethnic minority communities in Ninewa Province, especially those who have been victims of atrocities by ISIS. The modified agreement ensures that the U.S. contribution will help the populations of liberated areas in Ninewa Province resume normal lives by restoring services such as water, electricity, sewage, health, and education. The $75 million contribution is the first tranche of the $150 million announced for the FFS by U.S. Ambassador to Iraq Douglas Silliman in July 2017; fulfillment of the rest of that pledge will depend on UNDP’s success in putting in place additional accountability, transparency, and due-diligence measures for the FFS. USAID is also proceeding with a process called a Broad Agency Announcement to solicit innovative ideas that support the resettlement of ethnic and religious minorities in their ancestral homes in Iraq. The results of that competition will be available by early Spring. (Source: UN) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 54 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. The Diyala State Company has announced an opportunity to invest in the production of Electronic Energy Meters. More details here. (Source: National Investment Commission) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. The ride-hailing service Careem has reportedly launched its services in Baghdad. According to Saudi Gazette, the Dubai-based company plans to expand to other cities across Iraq in the near future. (Sources: Saudi Gazette, Arabian Business) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 41 view(s)
  • Investors Iraq News's Avatar
    01-16-2018, 01:05 AM
    By John Lee. On 13th February 2018, and within series of events of the Kuwait International Conference of Iraq Reconstruction and Development, Kuwait Chamber of Commerce & Industry (KCCI) will organize jointly with Iraq’s National Investment Commission (NIC), the World Bank (WB) and the Kuwait Fund for Arab Economic Development (KFAED) a conference entitled Invest in Iraq which will be attended by investors from all over the world. Iraq shall present the feasibility studies and licenses for 60 key investment projects with total amount exceeds $ 85 billion. The WB will support such projects by offering guarantees, compensation of first loss, and markets exploration. This conference would be the first of its kind to be supported by the WB and targeting investments. Applications to attend will be received until 20:00 GMT on Wednesday, January 24th, 2018. More information, including the program, here. (Source: Kuwait Chamber) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 43 view(s)
  • dollarsign's Avatar
    01-16-2018, 12:50 AM
    Progress... https://cbi.iq/news/view/561 ​$
    45 replies | 4110 view(s)
  • SamsonGold's Avatar
    01-15-2018, 09:50 PM
    Wishing everyone a happy and successful new year. Hey old timers, does anyone remember the fantastic silver thread we had years ago? It has been seven years since the peak and it looks like the bottom is in. One of the most disregarded and hated investments at this time means only one direction left. I believe PMs and cryptos will be fun to play with this year and the next four or five years. Who's with me?
    0 replies | 63 view(s)
  • Will-it-happen?'s Avatar
    1 replies | 114 view(s)
  • BatmaninIraq's Avatar
    01-15-2018, 08:56 AM
    The Central Bank reveals a scandal for commercial banks Date of release: 2018/1/15 (Baghdad: Al-Furat News) A report by the Central Bank of Iraq, that some commercial banks do not have any investment, "noting that" some letters of guarantee comes courtesy of relatives and friends. " "The proportion of investments to total assets in commercial banks is 8 percent," the report said, adding that "some of these commercial banks do not have any investments." He added that "the monetary assets of commercial banks during the year 2017 amounted to 6 trillion dinars of the total assets of 13 trillion dinars, or 46%, mostly concentrated in the assets of banks with the Central Bank, which indicates the focus of banking activities in the window selling foreign currency. "The letter of guarantee, which forms the largest part of letters of guarantee, in many cases are letters of courtesy to relatives, friends and companies in which the members or members of the board of directors participate in a clear or hidden," noting that "When you lag in the implementation of projects resort to some marketing method And delay in the payment of letters of guarantee in violation of the provisions of Article 290 of the Trade Law No. 30 of 1984. The Central Bank of Iraq issued on 19 March 2017 a circular for all private banks to abide by the standards to meet the sale of foreign currencies, noting that the task of international audit companies that have been contracted to assess the financial position and quality of assets of banks.
    1 replies | 114 view(s)
  • BatmaninIraq's Avatar
    01-15-2018, 08:45 AM
    Al-Rafidain issues the international MasterCard for Iraqis living in Jordan and the UAE Editorial Date: 2018/1/15 8:27 Al-Rafidain Bank announced the issuance of the MasterCard card for Iraqi citizens residing in Jordan and the UAE. "The MasterCard International has been issued at branches in Amman and Abu Dhabi for Iraqis living there to receive their financial dues," the bank's press office said in a statement. "The Bank's branches in Beirut, Amman and Abu Dhabi continue to provide the best banking services to Iraqi residents in these countries." It is noteworthy that Rafidain Bank continues to provide services and banking facilities as well as the financial advances of various segments of society.
    46 replies | 4983 view(s)
  • Investors Iraq News's Avatar
    01-15-2018, 06:52 AM
    This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of*Iraq Business News. By Ibrahim Saleh. An Increase In Internet Scams Entraps Naïve Baghdad Locals Over the past few months there has been an increase in stories about money-making scams on Facebook. Ill-informed Iraqis with get-rich-quick dreams are still falling for fraudsters’ lies. Tariq al-Halaq works at a barbershop in the central Baghdad neighbourhood of Mansour and he likes to talk to customers about his plans to get rich. The 37-year-old wants to make money and then leave the country to live a quiet life elsewhere. “It will only take a little time,” al-Halaq says. Ask him why and he says he has stumbled upon an ingenious new scheme to make money on Facebook. These online scams have always been around, says one Baghdad local, but recently they have been becoming more professional, targeted and therefore more widespread. On a post in a closed Facebook group, meant mainly for the sale of second-hand cars, al-Halaq read about a man called Ahmad al-Yasri. “Buy a parcel for IQD6 million or a bank note for IQD60,000,” al-Yasri writes on Facebook. A parcel is a bundle of American bank notes amounting to US$10,000 and a bank note refers to a US$100 note. But the amount that the man is selling the currency for does not equate to current exchange rates. Six million Iraqi dinars only add up to around US$5,000. And six thousand Iraqi dinars only equal around US$50. There is even a video accompanying the post which shows a surfeit of bank notes. Al-Yasri says he is trapped in another country with all the cash and cannot move it, which is why he is trading it for half of its value. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 50 view(s)
  • Investors Iraq News's Avatar
    01-14-2018, 07:28 AM
    By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.* Iraq is upping its efforts to restrict the public’s access to weapons, which will be a daunting task given the prevalence of weapons on the market and their wide exchange on social media. When the country’s top Shiite cleric, Ayatollah Ali al-Sistani, demanded Dec. 15 that the government escalate operations to put all weapons under its control, Iraqi Prime Minister Haider al-Abadi announced a plan to do just that. At times in the past, sales were blatant and widespread; after the fall of Saddam Hussein in 2003, weapons were sold on the streets in most Iraqi cities. That’s no longer the case — but now dealers have the internet. Facebook and other social media platforms have become hubs for the weapons trade. Although arms dealing is illegal in Iraq, dealers started using social media when the Islamic State invaded the country. When Mohamed Akram wanted to buy a weapon, he searched Facebook. After about an hour, he was able to purchase a Kalashnikov rifle from a group that otherwise focuses on car sales. Although the name of the group has nothing to do with weapons, it actually promotes their sale along with shoes, personal-care items and miscellanea including hair tonic. “Many people recommended that I search on Facebook and look for available weapons,” Akram, who lives in the al-Hurriya neighborhood north of Baghdad, told Al-Monitor. “I didn’t find any other way to buy weapons, many people buy from these groups.” Anyone can ask to join such groups, and once the group administrator approves a request, a new member can buy and sell weapons. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 67 view(s)
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