Iraqi Dinar 123

The ISIS is going to be the richest terrorist organization of the world with more than 2 billion pounds. It shows, the organization has more resources than that of Al-Qaida, Taliban and Shabab. The organization is operating under the supervision of Abu Bakar Baghdadi, the most wanted in Iraq and Syria.

The government of Iraq has been getting the support of international organizations in setting up the new policies, which could help Iraq to meet its economic challenges. The IMF is helping Iraq a lot in medium term economic reform program. This program will help the Iraq to improve its fiscal sustainability, and this will lead to the economic development for Iraq.

The US Joint chiefs of Staff briefed to the Congress that the Iraqi government has asked to the United States that the Iraqi government needed to use the US air power in the conflict against the ISIS militants. The ISIS (Islamic State in Iraq and Syria) is a branch of Al Qaeda, in which most of the militants are Sunni Muslims. This group has a success story in Syria, they are batting Syrian President Bashar Ul Assad's security forces.

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.

Keeping the present economic and political condition of Iraq, the experts believe that Iraqi dinar will remain on the mercy of US dollar today and in the near future. The backbone of Iraq may break if the security situation remained same in the country. The oil is considered as backbone of the economy of Iraq and if the situation remained same the things will be out of control.

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.

The crude oil is the backbone of the economy of Iraq. More than 90% of Iraq economy is depended on the production and export of crude oil in the international market. Unfortunately, Iraq could not balance between oil and non oil sector of Iraq. Now the attacks on major cities of Iraq destroyed the oil industry of Iraq badly and the oil production and export of Iraq is almost half in the international market.

After looking the recent violence in some major cities of Iraq, the government of Iraq applied some of the effective strategies for the economic advancement. The government of Iraq empowered the fine ministry and central bank of Iraq in the recent unstable situation of Iraq and advised them to keep their activities in the normal routine.

The militants of ISIS, the Sunni Muslim armed group want to gain the control of Baghdad after gaining the control of some major cities of Iraq. Hillary Clinton is not in the favor to send troops in Iraq like past, instead she wants to talk with the other neighboring countries like Iran to talk on some action plan against these militants in the country.

The policemen and soldiers are killed in these cities in the large number and those who survived escape in the city or ran away in the other cities of Iraq. According to report more than 4000 soldiers were killed in these cities in the counter attacks made by militants in the different areas of these cities.

The militants are pro active and advancing towards Baghdad so fast. In the last two days, they were 400 km far from Baghdad as they were in Mosul and in the next two days they are in Tal Afar the city near Baghdad. Reports say that militants are just 60km away from Baghdad where extreme fight is seen.

Despite the claims of security forces of Iraq, the militants advancement is continue towards Baghdad and now they are in Baquba, the city near Baghdad. According to recent BBC reports, the militants have gained the control of this city and now so close to Iraq capital city Baghdad that is the destination of Islamic militants ISIS.

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.

Lebanon banks are some of those banks who were allowed to operate in the Iraq by central bank. The Lebanon banks are expanding their business activities in Iraq and have launched a wide campaign to gain their business goals in Iraq. The central bank of Lebanon said that Iraq is offering active business opportunities in the country that Lebanon banks don't want to waste.

Despite the poor law and order situation in different major cities of Iraq, the Iraq stock exchange showed a great move in the trading in the last two days. The head of Security Commission said that the necessary measures have been taken to control any emergency situation in the country and in the stock exchange to protect the investments of local and foreign companies in the country.

Iraq is one of the biggest traders of gold in the market nowadays. Iraq focused on the international trade in gold rather than dollar or any other currency of the world. The aim is to enhance the value of its currency in the international market and to stabilize its economy. Iraq made some big deals that surprised the world in the gold. In 2014 only, the central bank of Iraq purchased more than 80 tons of the gold ingots from international market.

Economy of Iraq depends on the oil productions, based on the oil production, economic progress comes on the parameters. Iraq needs a constant development in oil and gas sector in order to strengthen its currency and economic conditions. For short term, economic progress of Iraq is expected to remain strong in the short term.

The Saxo Bank in its press release said that the recent law and order situation of Iraq may destabilize the oil prices in the international market. Mosul is under the control of militants that is the bridge between Kirkuk oil field supplies and it is the alarming situation not only for Iraq but also for international community.

The central bank of Iraq showed its determination for the economic development of Iraq even in the worst economic situations of Iraq. The central bank of Iraq along with finance ministry of Iraq will work accordingly, to produce positive and productive economic results. Turky said that ministry of defense can handle every situation so well and therefore they need not to be worried about these temporary hurdles.

Everything is ready and finalized by the major concerned financial institutions of the world like World Bank and IMF for the revaluation of Iraqi dinar. Everyone is just waiting for the formation of new government in Iraq for the final discussions. The experts believe that the rates for new Iraqi dinars have been decided and will be discussed for the final discussion.