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Erbil market for securities managed to gain membership for the Union of Arab Stock Exchanges and participated in the annual meeting in June for the first time. The Chairman of the Administrative Council Abdullah Ahmed Abd Rahim said that being a part of the market would prove to be quite helpful for our workers.

Iraqi Dinar 123 News:- Dubai will form a long term business relationships with Kurdistan as it is always welcomed by the people of Kurdistan; said UAE Consul General Rashid Al Mansouri. He said that UAE is always there to support Erbil in the economic development of the region.

The oil conflict between Iraq and Kurdistan has reached at a serious stage where both of the regions have taken stand on their own conditions to resolve this matter. Kurdistan decided to boycott all parliamentary sessions and meetings for discussions and approval of the annual budget of Iraq, until new rules and regulations for oil and gas.

United States of America sent a delegation to the Kurdistan to discuss the things to resolve the issue between Kurdistan and Iraq. The oil dispute between both of the regions is the major cause for non approval of the annual budget of Iraq.

Association in Erbil organized a seminar to examine the economic development, honored banking possibility of developing banking sector and the contribution of the banking sector. Association conducted in the meeting that there is a potential of banking industry in the Iraq and the growing sector of banking can really helpful for the financial development of Iraq.

Iraqi Dinar 123 News:- The Kirkuk oil fields of Iraq produce 25 thousand barrels per day. It was under the control of Baghdad for the several years but the recent clashes between Iraq security forces and rebel militants have changed the things almost completely.

The major difference between Baghdad and Erbil is the disputed oil policy for Kurdistan. Baghdad wants Kurdistan to export 400,000 barrel oil per day through Baghdad pipelines. Kurdistan considers this oil policy against their economy and ready to export just 100,000 barrels through Baghdad.

The tension between government of Iraq and Erbil is on hype these days. Every Iraqi wants the tension between Baghdad and Erbil need to resolve for the betterment of country and for the value of Iraqi dinar. The Adam an Iraqi wished that government need to close the difference with Kurdistan to develop the country mutually. He said that there should be a middle ground that would be acceptable for both of the regions.

It was shown on Saturday that Rasheed Bank wanted to announce and show the properties of the investors to increase the profits in several provinces under specific circumstances. Mohammad Kazem, the bank director reported that the bank would open its branches in Erbil, Dohuk and Sulaymaniayah with an Islamic banking branch opening in Erbil for the benefit of the clients.

Iraq is already passing through a difficult economic situation and in this situation this irregularity is unbearable. The issue between Erbil and Baghdad need to be resolved unless it is too late. The integration of present budget with the next one is never favorable the country and its economy.

The Iraq stock exchange conference is going to hold in Erbil 14th May 2014. Iraq will discuss the financial matters of Iraq and international market on the basis of newly established Iraq stock exchange. Iraq stock exchange is operating with thirty listed join stock companies and trying to enhance the scope of the stock exchange locally and internationally.

People of Iraq are waiting for election results 2014. The international companies operating in Iraq are also waiting for election results because they are expecting the budget approval after the final results. The economists are expecting some positive changes in the economy of Iraq after declaration of budget. Approval of budget means resolving the issues between Baghdad and Erbil.

News from Erbil-Iraq, December 23, Kurdistan President named MassoudBarzani said on Tuesday that there should be an independence of the region as this is the natural right for us to enjoy the independence in decision, policies and use of the resources.

Several foreign banks have opened their branches in the different parts of the country. The crises forced the banks to open branches in the south of Iraq which is a safer place.