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Central Bank: the project to delete the zeros from the currency represents a new infrastructure of the country
BAGHDAD / With: Description of the Central Bank of Iraq project to delete the zeros from the currency as: "a new infrastructure of the country at least as important as other infrastructure." said Deputy Mhaaft Bank Mazhar Mohammad Saleh: "The speed Anjazhma project reflect the harmony and the ministries and government departments concerned away for institutional work isolationist, since there is no value for the independence of the central bank if they were not this independence with a high potential for coordination with institutions other economic to build Iraq."
He added: "The project to delete two zeros from the currency project successful and to delete three zeros from the currency a very successful project, as there are countries that omitted 6 zeros from its currency because of the heritage of economic and inflation, which was suffering from and succeeded the experiment in which, "noting:" The process of deleting the zeroes test did not pass out of Iraq, we find that some people fear them while the project has the dimensions more positive than negative ."
He continued: "The full and comprehensive study of the project was completed last fall, has been submitted to the Economic Committee in the Council of Ministers and select a date 1/1/2013 because the time to directly delete the zeros." He said: "This project represents the process of reforming the system of monetary management and the transition of large numbers to smaller numbers with the same value of the currency without affecting the trading currency, because the switch would be suitable for people getting used to the new currency trading."
morning» publish another copy of highlighted articles of law oil
The Federal Council shall establish for oil and gas under the chairmanship of the Prime Minister
Baghdad — muhannad Abdul Wahab
Published "morning" another copy for highlighted Materials law of oil seal provided by the Council of Ministers.
As a representative source program "morning", there are three versions of the There law of oil, but the latest version Issued by of the Council of Ministers, may be an all-around 2011 Dependence after modifications by taking necessary.
According to a copy obtained by the "morning" that these articles are highlighted:
This law aims to The following: -
First: be ownership in Iraq oil seal for all people in all regions and provinces.
II: control of oil seal to ensure the equitable distribution of resources to people.
III: the Federal Government To managing and Petroleum source development for national phase Interest in any of the stages of Petroleum through Formations processes and bodies contained in this law.
IV: policy Strategy of organization and development of oil and gas Industry to achieve higher Extractive Perk of the Iraqi people.
VA: getting to top of The level of growth in reserves and production.
VI: maximizing financial resources to Iraq through the optimization of investment -Oil and gas wealth and the maintenance by technical foundations and concrete And economical rewarding.
VII. ensure technology transfer and the development of And the training of Iraqi in the industry.
VIII: Optimizing infrastructure development, development and protection of Environment.
IX: Iraqi private sector development to be effective and qualified And able to contribute in a fundamental way Petroleum processes.
seeks to achieving its objectives by means of The following: -
First: establish a modern Petroleum and sophisticated operations management in Iraq including policies and plans developed alstratigiat-remote and short Term.
II: laying the foundations for cooperation between the ministries concerned, including regional bodies وبين.
III: lay the Foundation for co-ordination between the federal ministries and And consultation regional authorities producing Petroleum and the provinces.
Fourth: expanded use of direct Effort in the all-around and the And foreign to perform operations in Iraq Based on petroleum to latest technology The economy market.
V. Exchange of experiences between the Iraqi oil sector world oil And industry.
This law applies to petroleum operations in The ground land and water and internal and territorial waters around the Underneath of Iraq, in any Part subject to Iraqi law under an international agreement or a law or international norms.
Establishes Council of Is called (Federal Council of the oil and gas) chaired by the President of the Council of Ministers or of the Authorized.
The Council of Ministers shall be as follows: -
First: submission of draft laws on the oil sector to the Council of representatives.
II: ratification of Council Policy Petroleum provided and supervision of they are applied.
III: oversee total operations on oil Exploration and development, production and transportation, marketing and special systems version.
IV. ensure that Board and the Ministry of the adoption of effective means and appropriate for consultation and coordination with regional bodies and provincial oil seal so as to achieve the objectives of this law in accordance with the provisions of the Greek Constitution.
First: the Council shall: - the following
1a. Adoption of federal policies and plans of petroleum industry exploration and development fields and pipe lines and modify the President.
B.The validation criteria that help negotiate licensing or contracts and contract development and production companies and criteria for eligibility.
C.Contracts forms authentication exploration and development and production in accordance with the criteria contained in this law according to the classification of fields and modified or supplements exploration in the areas annexed to the top of the benefit of the Iraqi people.
D. approval of contracts for development and production drilling and that licensing for petroleum and administered operations and.
E. Approval of funding hand and convert quotas in between with licenses for exploration and development, production and subsequent amendments of the contracts provided that adversely be negative degree and the quality and rate of national participation in project%.
And ensuring that the competent organ body. the exploration and development of petroleum resources from exploitation and to establish reserves of oil and gas production and to compensate and add new reserves and the Iraqi people as the interests of the provisions in force laws and regulations and contractual terms adopted international standards.
First: the Council offices called the (Office of the advisers independent) study contracts for exploration and development, production and plans to develop oil and gas fields and any another related and advice at will to the Board.
The Ministry of oil:-
First: laws and policy and projects Petroleum plans.
II: preparation of draft regulations to implement and issuing the instruction and data policies and laws, Federal petroleum and plans.
III: oversee petroleum operations in the light of the relevant contractual conditions legislation and international standards adopted by UNEP with the regional and provincial bodies to ensure implementation unified produced and smooth application in petroleum policy all across Iraq.
IV: The methods most successful programming in the development of fields discovered and developed and presented to the Council
V. preparation of draft policy and federal plans channelled for exploration and production R & D to select the necessary levels of production roundtables on the term short and the remote and find optimal solutions to the geographical distribution and timing exploration and curricula development and production in consultation and coordination with regional bodies and submitted to the Board and the provinces for review and approval.
VI: provide a comprehensive plan to the Council for exploration for oil and gas around the Iraq in consultation with regional bodies and provincial produced and classification of regions in accordance with the possibilities of oil and gas.
VII: modelling contracts exploration and development, production, collaboration with the Iraqi national oil co. and regional bodies each according to his The specific in this Act of hand and oil companies on the world.
VIII: verification of expenses and costs incurred by holders of licenses.
IX: ensuring win state construction yields achieved to implement r & d contracts for exploration and production.
X.: negotiate with other States and international organizations in regional conventions, in accordance with relevant international and submitted to Council as a prelude to the law.
XI: the representation of the Republic of Iraq in regional and international forums in regard to matters of oil and gas in accordance with law.
XII: proceedings sessions licensing activities in exploration and production of fields and patches and the development of exploratory except those in article mentioned (13 / II / a and b) and article (14 / II) according to the mechanisms set out in articles (15), (16), (17) of this law and with credit models and contractual companies and the eligibility criteria of the Board 's.
Ministry services processing contracts for petroleum operations which fall outside the scope of contracts exploration and development and production, according to the laws window.
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