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Crude oil is the backbone of Iraq economy and militants of ISIS under this fact very well. Therefore their strategy is so clear is to occupy the oil refineries of Iraq and cities rich in the oil. After taking the control of Mosul, the ISIS militants surrounded the Baiji, the biggest oil refinery of Iraq. According to recent updates, the militants have taken the control of Baiji and almost 80% of the area is under control of ISIS.

The militants are said to have full control over Iraq's largest oil refinery in Baiji. Though the security forces of Iraq are resisting against these militants but yet the things are under control of these militants. Some believe that more than 75% of Baiji is under militant's control and security forces will have to leave this area too on the mercy of militants.

Iraq printed new Iraqi dinars with the new features on it, to monitor and counter the counterfeited Iraqi dinar issues in the country. After many of the reported and registered complains about counterfeited issues in the bank notes of 250, 500 and 1000, the central bank of Iraq decided to reprint these notes with new security features.

Thousands of Iraqis have fled, prompting fears of a brewing humanitarian crisis. Qassim Atta, a spokesman for Iraqi security forces, on Wednesday night said an investigation had been ordered into 59 high-ranking security officials accused of leaving their posts. The officials could be executed if found guilty.

The government of Iraq requested United States of America for air strikes on Sunni Militants marching towards Baghdad. Noor Al Maliki said that these militants are big threat for America and Europe; therefore it is in favor of US to attack these militants. Noor Al Maliki is disappointed with the latest news from all over the country of the control of Islamic Militants over numbers of important cities of Iraq, including one of biggest oil refinery of Iraq in Baiji.

Few days ago the investors of Iraqi dinar like me were so tense with the political and law and order situation of Iraq Dinar. Most of us were considering the loss on our investment especially when the militants occupied the Baiji oil refinery of the country.