$$$$ Iraq Development Fund Receives the Files, After Eight Year $$$$

great find Kar! go 'naners go!!!!

$ 250 billion of oil into the treasuries of Iraq

Baghdad / Laith Mohammed Reza - Agencies
Officially announced the end of the functions of the Council of the International Advisory and Monitoring Board in Iraq after 8 years of receipt, transfer files and the Development Fund for Iraq for the export of Iraqi oil revenues and the use of its resources, to the Iraqi Committee of Financial Experts «COFE» in the absence of the Iraqi Central Bank as a member,



The experts confirmed that the decision confirms the possibility of Iraq would emerge from Chapter VII, which is still classified as a threatening international peace and security, the absence of an enemy in time of the Iraqi Central Bank that is not justified because the harm to the Development Fund for Iraq funds credited to his account.
It is noteworthy that the Council was established by the UN Security Council in 2003 as a committee monitoring international independent to oversee the audits of independent oil export revenues and the Development Fund for Iraq, note that the Fund received more than $ 250 billion in 8 years past, which included Council members representing the executive heads of the four organizations international: the Arab Fund for Economic and Social Development and the International Monetary Fund, the World Bank and the United Nations, is added to the Iraqi government.
As for the Iraqi Committee of Financial Experts was formed in 2007 and worked in parallel with the Council, and entrusted with tasks of follow-up and liquidation of the observations contained in the reports of international audit firms, in partnership with the ministries and the Iraqi authorities.
The adviser said the Central Bank of Iraq in favor of the appearance of Mohammed's "economic term:" The decision confirms the possibility of Iraq would emerge from Chapter VII, which is still classified Iraq as a threat to peace and security and international order, which authorizes the use of sanctions, including economic and military.
Saleh pointed to the success of the Iraqi diplomacy in mitigating the impact of some provisions of Chapter VII, as it was issued three resolutions of the Security Council on 15/12/2010, headed by Resolution No. 1956, which ended the control of the United Nations and its bodies to dispose of funds of the Republic of Iraq, particularly the issue of the Development Fund for Iraq an account which was opened in 2003 under Security Council resolution 1483 which was the deposit of all Iraqi oil revenues to this fund, in addition to the remains of a memorandum of understanding money and assets frozen by the launches.
Saleh continued: This decision deducted 5% of oil revenues to Kuwait war compensation and 95% act out by Iraq under the auspices of the International Council for advice and oversight to make sure that these funds go to the Iraqi people and the peaceful uses, stressing that such an act is full of money belonging to to Iraq as long as there is international monitoring of the disposition of oil revenues.
Saleh said: On this basis, the Council provides annual reports and meet quarterly to evaluate the conditions of the Development Fund for Iraq in return for international protection for these funds and at the booking judicial proceedings by bit by the courts of the States reserve funds of the Republic of Iraq for the benefit of commercial creditors and others from the private sector who claim that they have rights on Iraq, as a result of policies of the previous regime before 1990 or that particular slide that has refused to accept the decisions of the Paris Club.
Saleh added: The UN Security Council Resolution 1956 gave the six-month deadline for Iraq to receive the Development Fund for him and gave him the right to establish a mechanism to manage this fund, provided that contain 5% to compensate Kuwait and remain under control, while leaving the 95% without any censorship.
He pointed out that Iraq created the Committee financial experts is composed of the President Office of Financial Supervision and four independent financial experts, representing the Iraqi side in the audit act returns oil meeting in the Development Fund for Iraq, and since 2006 there have been consultations between the International Committee of the control and the Committee of Financial Experts.
Saleh pointed out that protecting the money this time came from the United States of America, where U.S. President Obama issued a presidential executive order to protect Iraq's money from booking the judiciary, and claims of creditors within the United States for one year starting from 22/5/2011 until 22/5/2012
On the lack of central bank involvement in the committee overseeing the Development Fund for Iraq, Saleh said that the failure to involve the central form of damage is not justified, pointing out that the money was the U.S. President's decision to protect Obama is deposited in the U.S. Fed as the Central Bank of Iraq.
Salih stressed: that the central bank was able to protect some of his money outside the United States through his efforts on the basis of the Central Bank Law, noting that those funds are not government funds, but trade is a cover of the national currency, and a tool to protect economic stability.
To a source familiar with the work of the Development Fund for Iraq, who asked not to reveal his name to the (economic term): The issue is not important, describing the change that is being talked about as nothing more than a formality.
The source said that the decision issued on 15/12/2010 reported that the government opened two accounts, but in practice did not open because the accounts originally opened from the time of the U.S. civil administrator for Iraq Paul Bremer.
The source explained that the government's initiative to open new accounts would mean a continuation of the bow as far as saying the compensation.
The source pointed out that Iraq's oil resources can not receive a single account making it hard for the amount of five percent.
I went recommendations of the Board advice and oversight of international at the end of its work and hand over the file to the Committee of Experts of Iraq to ensure the effective implementation of the installed meters of oil, including the complete implementation of the Oil Ministry to the plan until the end of 2011, and the next steps identified by Price Waterhouse Copz, and continued to take concrete steps to implement the follow-up on audit results the remaining recommendations, including improved financial reporting and control systems on the export sales of oil in the key ministries and to ensure completion of calculating the export of Iraqi oil, and framing the role of the Commission and the conditions of validity within the law, and the continued independent oversight by a committee of experts instead of the International Council Advisory and Monitoring Board and to allow the Board of Supreme Audit to continue their work in full transparency and support from the Iraqi government and parliament.
In addition to searching for a solution with the U.S. government regarding the use of resources, Development Fund for Iraq that could have taken place during FA with resolution 1438, particularly the remaining issues raised by the Special Inspector General for Iraq Reconstruction, in his report of July 2010 on account of the fund for the development of Iraq, Finally passed the position of commitment to transparency for the mining industry through the completion of the quality assurance process for the initiative.
The United Nations said in a statement: The Member States of the UN Security Council welcome the Iraqi government's efforts to finalize the arrangements for the transfer of responsibility for overseeing the Development Fund for Iraq, "as of the first of July 2011.
The statement quoted the members of the Security Council that the Iraqi Committee of Financial Experts, which will oversee the functions of the proceeds of the Development Fund for Iraq, instead of body control and international advice, exercise authority in accordance with its terms of reference approved by the Iraqi government earlier this year.
He stressed the Security Council, according to the statement, the need for the Iraqi government to make sure that the oil sale proceeds will be used for the benefit of the Iraqi people, as well as making sure that arrangements for the transition process consistent with the Constitution and international practice, the best, out of respect for the principles of transparency, accountability and integrity.
The Security Council has issued a decree establishing the Development Fund for Iraq in May 2003, a month after the U.S. invasion, so that the deposit of proceeds from the sale of oil in the fund, instead of the "oil for food" program, which allowed the regime of Saddam Hussein to use some of the proceeds for humanitarian purposes .
The Security Council resolution on the establishment of the Development Fund for Iraq, the allocation of 5 per cent of the proceeds from the sale of Iraqi oil to fund "compensation" of the victims of the Iraqi invasion of Kuwait in 1990, and stressed the Council's statement that this requirement should be binding for any Iraqi government that enjoys international recognition .
In December / December of last year, the UN Security Council the lifting of most sanctions imposed on Iraq, but he decided to continue the international mandate to oversee the Development Fund for Iraq until the end of June last.
Iraq is one of the largest producers of oil and gas in the world, but that the sector suffered a long period spanning several decades, as a result of mismanagement and economic sanctions on the regime of Saddam Hussein, then the U.S. invasion of Iraq.

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Security Council end the functions of control and international advice and handing Iraq over $ 250 billion


BAGHDAD (Iba) .. Received the Iraqi government, on Friday, billions of dollars in revenue from the sale of oil, which was subject to the supervision of an international committee of the United Nations, in the wake of the U.S. invasion in 2003.

The Security Council declared a formal end of the international functions of the control and international advice, which was to be supervised by the Development Fund for Iraq, the private oil export revenues, on June 30 last, to move those tasks to the Iraqi government as of Friday.

Coincides declaration delivered the Iraqi government, represented by a committee of financial experts, oil export revenues, which are estimated at $ 250 billion, over the past eight years, with continuing preparations for Iraqi and U.S. governments to withdraw about 47 thousand U.S. troops from Iraq by the end of the year.

The United Nations said in a statement Thursday, the Member States of the UN Security Council welcome the Iraqi government's efforts to finalize the arrangements for the transfer of responsibility for overseeing the Development Fund for Iraq, as of the first of July 2011.

The statement quoted the members of the Security Council that the Iraqi Committee of Financial Experts, which will oversee the functions of the proceeds of the Development Fund for Iraq, instead of body control and international advice, exercise authority in accordance with its terms of reference approved by the Iraqi government earlier this year.

He stressed the Security Council, according to the statement, the need for the Iraqi government to make sure that the oil sale proceeds will be used for the benefit of the Iraqi people, as well as making sure that arrangements for the transition process consistent with the Constitution and international practice, the best, out of respect for the principles of transparency, accountability and integrity.

The Security Council has issued a decree establishing the Development Fund for Iraq in May 2003, a month after the U.S. invasion, so that the depositing of proceeds from the sale of oil to the fund, instead of oil for food program, which was allowed to previous system using some of the proceeds for humanitarian purposes.

The Security Council resolution on the establishment of the Development Fund for Iraq, the allocation of 5 per cent of the proceeds from the sale of Iraqi oil to the Compensation Fund for Victims of the Iraqi invasion of Kuwait in 1990, and stressed the Council's statement that this requirement should be binding for any Iraqi government that enjoys international recognition.

In December of last year, the UN Security Council the lifting of most sanctions imposed on Iraq, but he decided to continue the international mandate to oversee the Development Fund for Iraq until the end of June last.

Iraq is one of the largest producers of oil and gas in the world, but that the sector suffered a long period spanning several decades, as a result of mismanagement and the economic blockade, then the U.S. invasion of Iraq

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Iraq Receives $ 250 billion from oil revenues



02-07-2011 | (Voice of Iraq) - Baghdad, Iraq (CNN) took over the Iraqi government Friday billions of dollars in revenue from the sale of oil, which was subject to the supervision of an international committee of the United Nations, in the wake of the U.S. invasion of the Arab state in 2003, which toppled the late President Saddam Hussein.

And announced the UN Security Council formally ended tasks "body control and international advice", which was to be supervised on the "Development Fund for Iraq," the private returns to export oil in June 30 last, to move those tasks to the Iraqi government as of Friday.

Coincides declaration delivered the Iraqi government, represented by a committee of financial experts, oil export revenues, which are estimated at $ 250 billion, over the past eight years, with continuing preparations for Iraqi and U.S. governments to withdraw about 47 thousand U.S. troops from Iraq by the end of the year.

The United Nations said in a statement Thursday that "Member States of the Security Council welcome the Iraqi government's efforts to finalize the arrangements for the transfer of responsibility for overseeing the Development Fund for Iraq," as of July 2011.

The statement quoted the members of the Security Council that the Iraqi Committee of Financial Experts, which will oversee the functions of the proceeds of the Development Fund for Iraq, instead of body control and international advice, exercise authority in accordance with its terms of reference approved by the Iraqi government earlier this year.

He stressed the Security Council, according to the statement, the need for the Iraqi government "to ensure that the proceeds from the sale of oil will be used for the benefit of the Iraqi people, as well as making sure that arrangements for the transition process consistent with the Constitution and international practice, the best, out of respect for the principles of transparency, accountability and integrity.

The Security Council has issued a decree establishing the Development Fund for Iraq in May / May 2003, a month after the U.S. invasion, so that the deposit of proceeds from the sale of oil in the fund, instead of the "oil for food" program, which allowed Saddam Hussein's regime by using some proceeds for humanitarian purposes.

The Security Council resolution on the establishment of the Development Fund for Iraq, the allocation of 5 per cent of the proceeds from the sale of Iraqi oil to fund "compensation" of the victims of the Iraqi invasion of Kuwait in 1990, and stressed the Council's statement that this requirement should be binding for any Iraqi government that enjoys international recognition .

In December / December of last year, the UN Security Council the lifting of most sanctions imposed on Iraq, but he decided to continue the international mandate to oversee the Development Fund for Iraq until the end of June last.

Iraq is one of the largest producers of oil and gas in the world, but that the sector suffered a long period spanning several decades, as a result of mismanagement and economic sanctions on the regime of Saddam Hussein, then the U.S. invasion of Iraq.

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Things are moving right along.
LIT

THAT VIDEO IS SO AMAZING.....BUT.....I THINK THESE PEOPLE HAVE WAAAAAAY TOO MUCH TIME ON THEIR HANDS (AND $$$$$$$$$ TOO !!!)...... VERY CREATIVE THOUGH !!!!! . MOTO !!!

Iraq Receives officially files Development Fund and the end of eight years of international supervision by the 2011-07-03 14:05:03 2011-07-03 14:05:03

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ب.)... BAGHDAD (Iba) ... .ق. BSA announced receipt of files from the Development Fund for Iraq officially ended eight years of international supervision of the Fund.


وقال.. A statement by the Court today: that a committee financial experts, the Iraqis took over the file during the last meeting of the Council of the International Advisory and Monitoring Board on the Development Fund for Iraq in the Jordanian capital Amman on 30 June.


.. He added that the meeting was an invitation from the Iraqi side, and the will of the Iraqi Committee of Financial Experts After this date, supervision and control of the alternative account of the Development Fund for Iraq, which contains all the export earnings of oil and its derivatives. (النهاية)
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