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Sunday, July 17, 2011

Iraqi Dinar News today july 18 211

Iraqi Dinar News today july 18 211 ; North Iraq’s Kurdistan government grants 25 billion dinars to support mini-projects for unemployed young men. The government of north Iraq’s Kurdistan Province has allocated 25 billion (b) Iraqi dinars for a special fund to help the unemployed young people to open mini-projects, according to Kurdistan’s Labor & Social Affairs Minister, Asus Najib.

On his part, the Ministry’s Media Director, Abbas Akram told Aswat al-Iraq news agency the Ministry had distributed 1,300 documents for unemployed young people, with ages between 18-35 years, to grant each of them a 15 million dinar credit to start a mini-project.

“The credits had been granted for unemployed young people, who are not linked to the state bodies or the private sector,” Akram said, adding that there won’t be a limited number of such documents.

Iraq names Trade Bank president
Iraq's government has appointed Hamdiya al-Jaf as chairwoman and president of state-owned Trade Bank of Iraq after its former manager fled the country due to alleged irregularities, a bank official said on Sunday.

Jaf, who moves up from adviser at the government's Rafidain Bank, replaces Hussein al-Uzri, who was accused by the government of committing "multiple violations" costing millions of dollars. Uzri denied the charges.

Iraq plans new Europe accounts to protect oil money

Iraq will open accounts at three European central banks to protect oil revenue from claims by commercial creditors when immunity at the U.S. Federal Reserve runs out, a senior central bank official said

Iraq holds the bulk of proceeds from its oil export sales in the Development Fund of Iraq (DFI) account at the New York Fed but will lose legal immunity on that account next May.

It plans to move at least part of that money to central banks in Britain, France and the Netherlands where the money would be protected.
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