“Tidbits From TNT” Wednesday Morning 6-5-2024

TNT:

Tishwash:  Angry demonstrators storm an American company in Baghdad

On Tuesday, angry demonstrators stormed the building of an American company in Baghdad.
A security source told Mawazine News, "Angry demonstrators stormed the building of the American company Procter & Gamble in the Uwaireej area, south of Baghdad."

He added, "The security services were on alert towards the Uwairaj area in Baghdad." link

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Tishwash:  Financial inclusion in Iraq: a success story that defies the odds

In the wake of the American invasion of Iraq in 2003, the financial system collapsed and the phenomenon of hoarding money spread, as a result of the loss of confidence in the banking sector after the closure of most branches of foreign banks operating in Iraq, and the faltering of some local banks.

To address this crisis, the Iraqi Deposit Insurance Company began establishment procedures in 2008 with the aim of protecting depositors’ funds and enhancing their confidence in the banking system, which is vital for achieving sustainable economic development.

The company has achieved remarkable success in its mission, as it has witnessed a significant increase in the number of bank accounts and the size of deposits since its establishment. In 2009, total deposits in Iraqi banks amounted to $8.05 billion, and this number rose to $76.5 billion in 2021. This significant increase is largely due to the company’s efforts to enhance confidence in the banking system and encourage citizens to save.

This significant increase in deposits clearly reflects the effective role played by the company in stimulating the culture of savings and encouraging citizens to deposit their money in banks instead of keeping it at home.

These numbers indicate that the Iraqi Deposit Insurance Company is on the right track towards achieving its strategic goals, which are enhancing financial stability and reducing the phenomenon of hoarding, and thus contributing to advancing economic growth in Iraq. ink 

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Tishwash:  The government's lack of seriousness in removing the Americans leaves Iraq exposed to them

It seems that there is nothing hidden from the Americans inside Iraq, as they know everything and eavesdrop on everything, and all this while the government is silent in the face of the popular will that calls for the removal of the American occupier from the country.

An international coalition led by the United States toppled the former regime in 2003, then Washington declared itself an occupying force in the country.

In 2008, the United States and Iraq concluded the Strategic Framework Agreement, which paved the way for the complete withdrawal of American forces in late 2011 after 8 years of occupation. The agreement regulates relations between the two countries at various political, security, economic, cultural and other levels.

American forces returned to Iraq at the request of Iraqi Prime Minister Haider al-Abadi in 2014, after the terrorist organization ISIS invaded a third of Iraq's area in the north and west.

America came with about 60 countries under the pretext of fighting the terrorist organization, before Iraq regained all of its territory from the organization in 2017 after 3 years of war, with the help of the Popular Mobilization Forces and the rest of the security forces.

Baghdad and Washington agreed to withdraw all combat forces from the international coalition by the end of 2021, but America remains to this day and has committed many crimes against Iraqi civilians, in addition to committing dozens of assassinations that targeted the mujahideen from the national forces and voices.

In the previous parliamentary session, the Iraqi parliament voted to completely withdraw American forces from Iraqi territory, but there was no withdrawal.

During the era of the government of Muhammad Shiaa al-Sudani, pressure increased on this government to expel the American occupier, and the Sudanese actually demanded that the Americans withdraw from Iraq, but it seems that these calls were to calm the angry street and nothing more, despite the talk of the head of the Supreme Committee to End the Mission of the International Coalition, the Chief of Staff of the Army, Lieutenant General Staff Abdul Amir Rashid Yarallah, with the continuation of consultations and the presence of seriousness in removing the occupier.

Political analyst Qasim Balshan questioned the government's statements to remove the American occupier from Iraq, describing them as “media consumption.”

alshan told Al-Ma'louma, “Everything that is said about movements to remove American forces from Iraq is just talk for media consumption.”

He explained, “Removing these forces lies with the Commander-in-Chief of the Armed Forces and not with the House of Representatives, which voted in the previous parliamentary session to remove the American occupier from Iraq.”

He pointed out, "The framework agreement signed during the era of former Prime Minister Nouri al-Maliki stipulated that the withdrawal of forces would be at an official request from the Commander-in-Chief of the Armed Forces," noting that "Sudanese did "Do not submit this request to the American administration."

While the head of the Presence Movement, Muhammad Abu Saida, criticized the continuation of American air sorties in Iraqi airspace and the military presence without any actual movement from the government to end the presence of these forces.

Abu Saida told Al-Maalouma, “Ain al-Assad base contains more than 1,950 American soldiers from the Marine unit and more than 4,500 soldiers inside the American embassy in central Baghdad. These forces remain and there is no movement towards removing them from Iraq.”

He added, "American forces are present in various types of military bases, as everything that is said about their exit from Iraq is just talk."

He stated that "American aircraft continue their sorties in Iraqi airspace, to collect information and visual and audio data through special eavesdropping devices."  link

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Mot: .. Nutting but ~~~~~

Mot: .. Nooooooo Body Told Me - Way Back then!!!!

Iraq Economic News and Points To Ponder Late Tuesday Evening 6-4-24

Iraq Economic News and Points To Ponder Late Tuesday Evening  6-4-24

Financial Inclusion In Iraq: A Success Story That Defies The Odds

Time: 06/04/2024 18:48:26 Read: 1,105 times {Economic: Al-Furat News}  In the wake of the American invasion of Iraq in 2003, the    financial system collapsed and the phenomenon of   hoarding money pread, as a result of the   loss of confidence in the banking sector after the  closure of most branches of foreign banks operating in Iraq, and the  faltering of some local banks.

To address this crisis, the Iraqi Deposit Insurance Company began establishment procedures in 2008 with the aim of   protecting depositors’ funds and  enhancing their confidence in the banking system, which is vital for achieving sustainable economic development.

The company has achieved remarkable success in its mission, as it has witnessed a significant increase in the number of bank accounts and the size of deposits since its establishment.

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In 2009, total deposits in Iraqi banks amounted to $8.05 billion, and this number rose to $76.5 billion in 2021.

This significant increase is largely due to the company’s efforts to enhance confidence in the banking system and encourage citizens to save.

This significant increase in deposits clearly reflects the   effective role played by the company in stimulating the culture of savings and   encouraging citizens to deposit their money in banks instead of keeping it at home.

These numbers indicate that the Iraqi Deposit Insurance Company is on the right track towards achieving its strategic goals, which are   enhancing financial stability and  reducing the phenomenon of hoarding, and thus   contributing to advancing economic growth in Iraq.    https://alforatnews.iq/news/الشمول-المالي-في-العراق-قصة-نجاح-تتحدى-الصعاب    

What If Other Banks Follow Suit?

 Economical 06/05/2024  Hussein Thaghb  Economic advancement requires a set of data that will take it to safety and achieve the set goals on time.

The process of economic development requires a series of interconnected episodes that complement each other during known times.

 This mechanism cannot be maintained unless there are elements that represent the raw material for new production.

The financial sector here can be described as the cornerstone of the economic development process sought by the country that is described as rich among the countries of the world,

 especially since one of the specialized centers placed Iraq first among the rich countries of the world, as it was ranked first by the volume of wealth per square kilometer relative to the number of inhabitants, and  Here we can evaluate the country's economic importance.

 Today, when we look forward to employing the amount of wealth in a way that creates true sustainable development and preserves the rights of future generations,

it is necessary to create an effective and sound banking system that takes into account the movement of money globally and complies with all legal paths that govern the movement of money within the globe, and  this is something we are close to, as she pointed out.

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 International Reports Indicate That Iraq Is In An Acceptable Situation.

In the country, the matter requires more clarity and rapprochement from the Central Bank of Iraq with the banking system, which has begun to fear the expected sanctions,

especially since there are those who say that there are sanctions that will affect new banks in the coming days, at a time when the Central Bank and the Association of Banks, the sectoral body responsible for private banks, announced that efforts are directed To cancel the sanctions imposed on banks that began a year ago.

 In an atmosphere like this, banks continued to work to increase their capital and develop their technological systems in accordance with what is internationally approved to strengthen the financial system in Iraq.

 News like this comes circulating here and there.

 The relevant official and sectoral authorities must come closer to clarify the facts of the matter and preserve the banks that are actually working to develop their performance.

 It aspires to serve the national economy, and has national motives to serve Iraq, not exclusively personal interests.

Iraq is one of the most important labor markets in the world and the focus of attention of major international companies and international economic organizations.

This requires us to reflect an ideal image of the country, starting with the financial sector in particular, which is the reflecting mirror of any economy, and as long as we are on the cusp of a new phase to achieve...

For economic advancement, we must and inevitably have an effective banking system that is far from all forms of disruptions that expose it to unnecessary shocks.

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The most important role of the Iraqi Central Bank is to  protect the quality of the Iraqi banking system,  confront any rumors that confuse performance,  reassure its children of the banks that actually serve the national economy, and  address banks that do not have development goals that support the development trends in the country.      https://alsabaah.iq/97861-.html    

More Than 12 Million Bank Accounts To Date

 Economical 06/04/2024  Baghdad: Al-Sabah  The growth rate of bank accounts has increased over the past years in the country, reaching 12 million bank accounts so far.

 According to a statement issued by the Central Bank, “the growth rate of bank accounts increased from 2018 to 2019 by 90%, reaching 12,500 million bank accounts.”  

He added, “The growth rate of bank accounts reached its peak in 2020 with a growth rate of 90%, reaching 12 million bank accounts, while   for the year 2021 it decreased to the lowest level by 10%, reaching 1,500 million bank accounts.”

 The Iraqi Central Bank indicated that the growth rate of bank accounts for the year 2022 increased by 30% to reach 4,500 million bank accounts, and  it also increased during the year 2023 by 54% to reach the level of 8 million bank accounts.   https://alsabaah.iq/97767-.html    

Experts: We Are Getting Close To “Zeroing” Gas Burning

 Economical 06/05/2024 Baghdad: Shukran Al-Fatlawi   Economic affairs specialists see the necessity of conducting multiple licensing rounds to exploit gas patches in the country in light of Iraq's approach to zeroing out the gas burning process, noting that the last round did not achieve all of its goals.

 Baghdad recently witnessed a licensing round for a number of new exploratory patches and sites, some of which were not awarded in the round.

 Oil expert Dr. Hamza Al-Jawahiri said in an interview with “Al-Sabah” that  the issue of investing in associated gas was long delayed due to many problems, pointing out that the government is serious during the next two years in zeroing the rate of burning of associated gas,

 indicating the existence of several projects for treatment, including exploiting gas in The project signed with Total Energies, which processes 600 mqm of gas, as well as the Nahr Omar project, which processes 300 mqmq, and other projects that the government is urging to invest in associated gas.

 Al-Jawahiri continued that there is a period of time ranging from 3 to 5 years, in which it is possible to see its final results in investing in associated gas, hoping at the same time that these projects will be implemented, because, unfortunately, they have become like a dream, he said, as the process of burning associated gas and converting it into power generation stations Electrical or petrochemical plants, not yet exploited.

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 Al-Jawahiri stressed that petrochemical plants are not available in the country, except for one plant, which is not sufficient for its purpose, considering it a major problem that requires urgent solutions, noting that there are very many fields in western Iraq for free gas, which could make us a gas exporting country if invested properly.

He pointed out that the Ministry did not fully achieve its goals during the last licensing round in obtaining investors in the exploratory patch for invasive areas, because it requires more work, study, and seismic geophysical surveys in those areas in order to be presented to international companies, in addition to the necessity of providing security in the region.

For his part, the researcher in economic affairs, consulting engineer Imad Al-Muhammadawi, told Al-Sabah that the year 2030 will be the year of completely eliminating gas burning, according to the Paris Agreement that Iraq signed, which stipulates “finding coordination and reaching solutions and cooperation at all international levels to help in Reducing the percentage of carbon in the atmosphere and its negative effects, and confronting climate change and its significant effects as a result of global warming.”

 He added that the country's efforts are currently directed towards stopping associated gas, which will stop in the year 2028 according to government sources, and trying to benefit from it in generating electrical energy, from which the country has been suffering from a crisis for a long time.

 He expressed his optimism that the crisis is on its way to being resolved, and the country is currently taking... Correct steps in this direction.

 For its part, the Ministry of Oil recently announced access to investment and exploitation of 62% of the gas produced in Iraq, and indicated that the year 2028 will witness the end of Associated gas combustion.

The Undersecretary for Gas Affairs in the Ministry, Izzat Saber, said in a press statement,

“A memorandum of understanding was signed between Siemens, Schlumniger, and the Ministry of Oil for accelerated investment in the associated gas that is being burned,” indicating that

after the memorandum, the stage of commercial, financial, and technical presentation for this company and identifying the fields will come. That burns gas.    https://alsabaah.iq/97860-.html   

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Wealth

We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both.  - Louis D. Brandeis

I am opposed to millionaires, but it would be dangerous to offer me the position.  - Mark Twain

Sleep, riches and health to be truly enjoyed must be interrupted.  - Jean Paul Richter

The wealth of a nation consists not in its mass of material things, but in its system. The natural resources of South America are not inferior to those of the United States, but the wealth of the two regions is vastly different. The land of India is far richer than that of Japan, but the comparative wealth of the two nations is reversed.  - George Brockway

 http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Goldilocks' Comments and Global Economic News Tuesday Afternoon 6-4-24

Good Evening Dinar Recaps,

"The State Bank of Vietnam (SBV) started selling gold directly to four state-owned commercial banks today (June 3), aiming to lower the metal’s domestic price. The institutions will then sell the gold bars to the public."

This new monetary policy shift will continue as Vietnam attempts to narrow the difference between the domestic and global gold bar prices per SBV officials. It is an attempt to revalue gold through resetting its price.

This diversifies their people's portfolio, and it gives the banking system a broader strength to their accounts. In return, it gives the SBV an opportunity expand their net worth and give out loans.

Vietnam has been accumulating gold in order to join the BRICS Nations. One of the requirements is that they do accumulate gold to support their banking system.

Can you see where this is going now? Everything across the board from the markets, the banking systems, the shipping ports, and to the people are turning to gold to deflate an inflated economy.

Through Tokenized Assets, our Global Economies will have a real value on every product that can be bought and sold including Forex opportunities.

I look to see these opportunities begin to shift in July for Vietnam as they become a Market Economy. Can it happen before that time?  English News  Central Banking   English News 2  Wikipedia

We are about to find out.

© Goldilocks

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We finally have some prices placed on the US Debt Clock. It has been empty for some time. In fact, many countries in the East have been wondering when those numbers would show up. Well, they are here now.

This doesn't mean that these are prices that are set in stone. It just means they are prices to work from going forward as our world resets the price of gold and reclassifies gold as money. https://www.usdebtclock.org/

Gold will set us free!

© Goldilocks

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It is the revaluation of Gold that will set the tone for the new economy. It will determine, to some degree, the price of all goods and services across all asset classes.

© Goldilocks

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MiCA Regulations Force Binance to Overhaul Stablecoin Services | Finance Magnates

"Starting June 30, 2024, the European Economic Area (EEA) will enforce new regulations under the Markets in Crypto-Assets (MiCA) framework, specifically targeting stablecoins. Binance, one of the world's largest cryptocurrency exchanges, plans to roll out changes to ensure compliance, impacting everything from trading to rewards.

Only regulated companies can issue and offer stablecoins, termed regulated stablecoins. Many existing stablecoins do not meet these criteria and will be designated as unauthorized stablecoins, facing various restrictions on Binance's platform, the cryptocurrency exchange said in a statement on its website."

Remember, stablecoins represent a country's currency. The new regulations will be going into effect on June 30th, 2024.

This will begin to determine new prices in the new digital economy regarding trade relations around the world.

An increase in demand for local currencies around the world that have moved from a dollar regimen to a local currency regiment will begin.

This is when credit valuation adjustments begin. It does not mean new rates will happen overnight. In fact, to determine new price correlations on the market requires algorithmic patterns to set in that become normalized.

Watch the water.

© Goldilocks

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EXCELLENT NEWS Iraq's Leap in Electronic Banking | Youtube

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Next generation correspondent banking | BIS

Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model.

The tokenization of correspondent banking, as embodied in Project Agorá (BIS (2024b)), could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures.

Tokenization could substantially reduce duplication and miscoordination, thereby revitalising cross-border payments by fostering a robust network of correspondents and corridors.

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Russia and China 'close' to replacing SWIFT — business regulator. |  Azerbaycan24

👆  Goldilocks pointed to this article

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Sexy Bank Deals, Ripple Story, How to Distribute the XRP Escrow, When Smart Contracts on XRP Ledger | Youtube

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Swift Unveils AI Pilots to Combat Cross-Border Payment Fraud - Fintech Singapore

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Event: Hearing Entitled: Next Generation Infrastructure: How Tokenization of Real-World Assets Will Facilitate Efficient Markets |  Financial Services.House

When: Wednesday, June 5, 2024 9:00 AM in 2128 Rayburn House Office Building

What: Subcommittee on Digital Assets, Financial Technology and Inclusion

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UAE Central Bank Approves Issuance of Stablecoin Regulation | Cryptopolitan

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BREAKING NEWS

TURKEY SAYS BRICS COULD OFFER A GOOD ALTERNATIVE TO THE EUROPEAN UNION TO BOOST ITS ECONOMIC PROSPECTS

Awkward…      Read: Twitter

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If Russia Accepts Gold for Oil, Gold Price Doubles to $3,600, Says Credit Suisse’s Zoltan Pozsar | BMG Group

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WATCH HERE

Power of copper = Free Healing

⚡️Copper + Gardening - Cultivate Elevate

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Summary / Status Iraqi Dinar ReValue IQD VND Exchange Rates | Youtube

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THE U.S. GOVERNMENT WILL REPLACE SWIFT WITH RIPPLE XRP | Youtube

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BOOOOOOOOOOOOOOOOOOM!!!

Brad Garlinghouse indirectly says that the case will end this summer with the payment of a fine in the millions, not billions.

#XRP would be the first FULLY regulated digital asset in the United States of America! | Twitter

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Iraq Economic News & Points to Ponder Tuesday Afternoon 6-4-24

Iraq Economic News & Points to Ponder Tuesday Afternoon 6-4-24

Currency Auction: Central Bank Sales Exceeded $278 Million Today

Economy |  04/06/2024  Baghdad - Mawazine News   Tuesday, the Central Bank of Iraq sold more than 278 million dollars through an auction for selling American currency.

The total internal cash withdrawals amounted to $23,320,000, while the total amounts of transfers abroad, which include remittances and credits, amounted to $255,513,388, while the total sale amounted to $278,833,388.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 255 million 513 thousand and 388 dollars, an increase of 91% over cash sales amounting to 23 million and 320 thousand dollars.   https://www.mawazin.net/Details.aspx?jimare=249148

The Dollar Continues To Rise In Local Markets

Economy | 04/06/2024   Baghdad - Mawazine News   Tuesday, the exchange rate of the dollar against the dinar recorded a new high for the second day in a row on the main stock exchange in the capital, Baghdad.

The price of the dollar on the Al-Kifah and Al-Harithiya stock exchanges recorded 145,850 thousand dinars for every 100 dollars.

Prices stabilized in banking shops in local markets in Baghdad, with the selling price reaching 146,750 dinars, while the purchasing price reached 144,750 dinars for every 100 dollars.” https://www.mawazin.net/Details.aspx?jimare=249129

Central Oil: The Prime Minister Stressed The Optimal Investment Of Energy And Fuel In Iraq

Energy  Economy News _ Baghdad  The Central Oil Company confirmed today, Tuesday, that exploratory blocks need time to study, evaluate, and learn their properties, while pointing to Prime Minister Muhammad Shiaa Al-Sudani’s emphasis on the optimal investment of energy and fuel in Iraq.

The company’s general manager, Muhammad Yassin Hassan, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “Middle Oil is the largest exploratory and extractive area and area in oil companies, and the distribution was qualitative, as the fields and patches were distributed to all governorates, which contributes to Producing oil or gas in more than one governorate, thus increasing the spread or distribution of employment in Iraq, and reducing unemployment in the governorates.”

Hassan added, "The choices were for the gas to be close to the power stations, to achieve what the Prime Minister stressed about optimal investment of energy and fuel in Iraq."

He pointed out that "most of the patches currently offered are exploratory patches, and therefore require a long time and studying and evaluating the reservoirs to discover the reservoirs and know their properties, whether they are oil or gas."

He explained that "in establishments and fields operating in the natural gradient, there is a decline in production after a period of time following the peak, and therefore the discovery of fields near them is an important event that contributes to the sustainability of production in the governorates, and therefore the ministry must initiate referrals early to sustain production."

He pointed out that "the government's plan on the part of the Ministry of Oil is to deal with the government program accurately and professionally by distributing production and extraction in all governorates in order to distribute social benefits and reduce unemployment." Views 64 06/04/2024 - https://economy-news.net/content.php?id=44010

Iraq Exports More Than 7 Million Barrels Of Crude Oil And Its Derivatives To America In A Month

Energy   Economy News _ Baghdad  The US Energy Information Administration announced on Tuesday that Iraq exported more than 7 million barrels of crude oil and its derivatives to the United States during the month of March of this year.

An administration table, seen by Al-Iqtisad News, showed that Iraq's exports of oil and its derivatives in the month of March amounted to 7.75 million barrels, an increase of 2.395 million barrels from what they recorded in February, when they reached 4.680 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America during February amounted to 38 million and 69 thousand barrels, with Saudi Arabia having the highest rate of exports to America, reaching 11 million and 559 thousand barrels during the same time period.

Iraqi oil exports to the United States have increased significantly over recent years, with export numbers in some months reaching record levels, partly due to Iraq's ability to increase its oil production, in addition to rising global demand for oil.

Oil trade relations between Iraq and the United States play an important role in strengthening economic relations between the two countries. They also contribute to enhancing the stability of the global oil market and providing energy to the American and global economies. Views 74  06/04/2024 - https://economy-news.net/content.php?id=44001

Al-Sudani: Ending UNAMI’s Work Does Not Mean Breaking With The United Nations And Specialized International Agencies

Tuesday 04, June 2024 | Political Number of readings: 136  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed that the UN Security Council’s decision to set a date for ending the work of the UNAMI mission in Iraq at the end of the year 2025 does not mean a break with the United Nations and specialized international agencies.

The Prime Minister said in his speech during the Council of Ministers session today: “The Security Council’s recent decision to end the work of the UNAMI mission came at the request of the government, and it represents international recognition of the progress made on the Iraqi scene in all fields.”

He added: "International organizations have reached a positive performance assessment of Iraq that supports stability," pointing out that "ending UNAMI's work does not mean a break with the United Nations and specialized international agencies."

The Prime Minister pointed out in his speech: “Iraq is the cornerstone of any stability process in the region.”/End 7   https://ninanews.com/Website/News/Details?Key=1130595

Announcing the establishment of the Iraqi-French Business Council on the sidelines of the Iraqi-French Economic Forum

Tuesday 04, June 2024 | Economical Number of readings: 354  Baghdad / NINA / The Department of Foreign Economic Relations in the Ministry of Commerce announced the establishment of the Iraqi-French Business Council on the sidelines of the Iraqi-French Economic Forum late last May.

A statement by the Ministry’s media office said: “The activities of the forum were organized by the Embassy of the Republic of Iraq in Paris in cooperation and coordination with the Commercial Mission in Paris, the French Ministry of Foreign Affairs, and the French Employers Association MEDEF for the period from the twenty-ninth to the thirty-first of last May.”

The statement continued: “The forum was attended by Governmental bodies and the Iraqi private sector, and on the French side, the Minister Delegate for Foreign Trade, Attraction, Francophonie, and French people abroad, in addition to other official figures, with the participation of Iraqi and French companies from the public and private sectors, and a large number of researchers, interested parties, and media professionals.

The statement indicated: “The launch of the work of this economic forum comes within the efforts of the Iraqi government and the Ministry of Commerce to implement the Iraqi-French strategic agreement signed between the two countries last year in order to develop trade and economic relations between the two friendly countries.

The statement stressed:” The commercial attaché played a pivotal and prominent role. In coordination with French banks, owners of companies, factories, investors, industrialists, and parties influencing French commercial and economic decisions, by bridging viewpoints to open broader commercial cooperation horizons by inviting them to participate in the forum. /End 3

https://ninanews.com/Website/News/Details?key=1130529

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Wealth 

The first wealth is health.              - Ralph Waldo Emerson

The smell of profit is clean and sweet, whatever the source.  - Juvenal

There are few sorrows, however poignant, in which a good income is of no avail. - Logan Pearsall Smith

The human race has had long experience and a fine tradition in surviving adversity. But we now face a task for which we have little experience, the task of surviving prosperity. - Alan Gregg

Riches enlarge, rather than satisfy appetites.- Thomas Fuller 

Australia is so kind that, just tickle her with a hoe, and she laughs with a harvest. - Douglas Jerrold

It is better to live rich than to die rich.  - Samuel Johnson

We can have democracy in this country or we can have great wealth concentrated in the hands of a few, but we can't have both.  - Louis D. Brandeis

I am opposed to millionaires, but it would be dangerous to offer me the position.  - Mark Twain

Sleep, riches and health to be truly enjoyed must be interrupted.  - Jean Paul Richter

The wealth of a nation consists not in its mass of material things, but in its system. The natural resources of South America are not inferior to those of the United States, but the wealth of the two regions is vastly different. The land of India is far richer than that of Japan, but the comparative wealth of the two nations is reversed.  - George Brockway

http://famousquotesandauthors.com/topics/wealth_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Tuesday 6-4-2024

TNT:

Tishwash: Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

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Tishwash:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

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CandyKisses:  Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f)."

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

************

Tishwash: Oil prices shock the markets and Brent falls to $77

Oil prices fell in early trading on Tuesday, continuing the losses of the previous session when prices fell to their lowest levels in four months, with investors concerned about increased supplies later in the year.

Brent crude futures fell 20 cents, or 0.3%, to $77.77 per barrel. Brent crude closed below $80 for the first time since February 7, after falling more than 3% yesterday, Monday.

US West Texas Intermediate crude futures fell 17 cents, or 0.2%, to $74.05, and closed near the lowest level in four months yesterday after falling 3.6%.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as the OPEC+ group, agreed on Sunday to extend most oil production cuts until 2025, but left room to gradually cancel the voluntary cuts by eight members starting in October.

Signs of weak demand growth have also weighed on oil prices in the past few months, with a focus on data on fuel consumption in the United States.

The average price of gasoline in the United States fell 5.8 cents to $3.50 a gallon yesterday, Monday, according to GasBuddy data.   link

 **********

Mot ..... Just ASaying -- bet Noone will Notice this Un!!!!  Almost summer

Mot: .. Dang - I LOL -- on dis un!!!  Hummingbirds

Iraq Economic News and Points To Ponder Monday Evening 6-3-24

Iraq Economic News and Points To Ponder Monday Evening 6-3-24

Union Of Arab Banks: Iraq Is A Pioneer In Electronic Banking Services

 June 3, 2024 Baghdad/Iraq Observer   The Union of Arab Banks confirmed today, Monday, that Iraq is a pioneer in electronic banking services, while  noting that the Iraqi banking sector is ancient and its role is vital in economic development.

 The Secretary-General of the Union of Arab Banks, Wissam Fattouh, said,

“There is deprivation from dealing in the dollar, not sanctions, because sanctions mean inclusion on the sanctions list,” pointing out that

 “the effect of deprivation is almost equivalent to sanctions because it is difficult for banks to operate without the dollar currency, which represents... Currency of international trade. Fattouh added,

  “The Iraqi banking sector is an ancient sector and has a history, as its total assets amounted to 157.9 billion dollars, and even its deposits amounted to more than 100 billion dollars.”

 Therefore, this sector is important and its role is vital in economic development in the heart of the country.”

He stressed “the necessity of applying international standards, especially with regard to the standards and laws in force to combat money laundering and terrorist financing.” He pointed to

 “involving the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this truly desired goal, and to train and qualify Iraqi cadres in particular.” He pointed out that

  “there has been a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Muhammad Shiaa Al-Sudani made the important historical visit to the United States of America.” He noted that

 “the biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks.” He continued,

"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance."    https://observeriraq.net/اتحاد-المصارف-العربية-العراق-رائد-في-ا/       

Declaration Of Function  

June 02, 2024   The Central Bank of Iraq announces the opening of contract employment for the position of cash examiner, provided that applicants for these positions are in accordance with the conditions stated later, with the offer that application will be exclusively via the electronic link:

 Conditions for submitting the form:

The applicant must be of Iraqi citizenship.

 The applicant must not have been convicted of a crime against honor or trust.

The applicant must have completed eighteen years of age and not exceed twenty-five years.

He must have a certificate (preparatory/intermediate). The application will be ignored if it is proven that the applicant holds a certificate higher than the position for which he is applying.

 directions:

 Submission will be from Sunday, 6/2/2024, until the end of official working hours on Thursday, 6/6/2024.

It is preferable to use the chrome browser when submitting the form.

  Important notes:

   The applicant for the job will be ignored in the following cases:

  Applying for a job outside his governorate.

 The application will be ignored if submitted twice by the same person for any reason.

The application will be ignored if there is a difference between the information entered and the information of the attached documents.

 Applications that do not meet the conditions listed above will be ignored.

   All information provided by you is subject to audits by the relevant authorities.

   Note that the applicant will undergo a test to accept the job.

   Form link      https://shorturl.at/f4E8W  https://docs.google.com/forms/d/e/1FAIpQLSdp-ur9sqLJOkrWmGm3KhhoqehJL2cLcrOFSTQ0dgnHgJpWEg/viewform  

Form code       https://cbi.iq/news/view/2597

 Stop Entering The Foreign Currency Buying And Selling Window

 June 03, 2024  It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window

~~~~~

 [partial and approximate translation of https://cbi.iq/static/uploads/up/file-171741265259795.pdf]

 All approved banks

 And/stop entering the foreign currency buying and selling window

 The details of the suspension of listed companies are provided in the attached table below which begins In sequence (1- Naseem Al-Thalooj General Trading Company) andending in sequence (1171- Company Al-Yaqout General Trading Buildings)» from entering the window for buying and selling foreign currency.

 To act accordingly. With appreciation.

 [signature]  2024/5/30

[See 7 pages of list of 198 businesses in https://cbi.iq/static/uploads/up/file-171741265259795.pdf]

:diamonds: To view the titles and list of companies... click here

  https://cbi.iq/static/uploads/up/file-171741265259795.pdf

 https://cbi.iq/news/view/2600     

Central Bank Of Iraq Strategy: A Strong Boost To The Private Sector And Labor Market

Last updated: June 2, 2024  ndependent/- The Central Bank of Iraq’s bank lending strategy 2024-2029 is an important step towards developing the private sector and stimulating the national labor market.

 This strategy aims to increase the credit granted to the private sector and small and medium enterprises, which will contribute to financing new projects in various sectors.

Strategy objectives:

 Increasing credit granted to the private sector: The strategy aims to increase credit granted to the private sector by 4% of non-oil GDP by 2029, equivalent to 7 trillion Iraqi dinars.

 Supporting small and medium enterprises: The strategy aims to increase the credit granted to small and medium enterprises by 3% of non-oil GDP by 2029, equivalent to 5 trillion Iraqi dinars, which will contribute to financing approximately 100,000 projects.

  Improving the business environment: The strategy aims to improve the business environment and attract more local and foreign investors.

 Unifying private sector development efforts: The strategy aims to unify private sector development efforts and coordinate them among concerned parties.

The importance of the strategy:

 Creating job opportunities: The strategy contributes to creating new job opportunities for Iraqi youth.

 Developing the productive and service sectors: The strategy contributes to the development of the productive and service sectors in Iraq.

 Stimulating economic growth: The strategy contributes to stimulating economic growth and enhancing financial stability.

Everyone's responsibility:

Financial experts and specialists stress the importance of the combined efforts of all stakeholders for the success of this strategy.

The government, banks, investors, and Iraqi youth must work together to achieve the goals of this strategy and create a better future for Iraq. https://mustaqila.com/ستراتيجية-البنك-المركزي-العراقي-دفعة/    

Growth Rate Of Bank Accounts In Iraq

 June 02, 2024

 The Central Bank of Iraq announced the growth rates of bank accounts for the past years, starting from the year 2018 and ending in the year 2023, which shows the growth rates during the aforementioned period and according to the attached chart.  https://cbi.iq/news/view/2599    

 Central Bank of Iraq      information Office    June 2, 2024

 Growth rate of bank accounts in Iraq Clip_image004   https://cbi.iq/static/uploads/up/file-171732391294036.jpg

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

 Provoking Thoughts and Points To Ponder on Advice

Never give advice in a crowd.  - Arab proverb

Never give advice unless asked.  - German proverb

Whatever advice you give, be short.  - Horace

Old men are fond of giving good advice, to console themselves for being no longer in a position to give bad examples.  - La Rochefoucauld

We give advice, but we do not inspire conduct.  - La Rochefoucauld

Good counsel has no price.  - Guiseppe Mazzini

Never advise anyone to go to war or to marry.  - Spanish proverb

Many receive advice, only the wise profit by it.  - Syrus

Admonish your friends privately, but praise them openly.  - Syrus

 http://famousquotesandauthors.com/topics/advice_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Daniela Cambone:  6-3-2024

“If you have to go back to a gold standard, yeah, $27,000 would have to be the [gold] price in order to avoid massive deflation,” says Jim Richards, New York Times bestselling author.

He explains to Daniela Cambone that it’s “more likely” we will return to the gold standard as people lose confidence in fiat currency.

 Moreover, as the money supply skyrockets while the supply of gold remains the same, the price of gold is propped up. He also states the danger when Russia reiterates the West by suing Euroclear, the largest clearing, settlement, and custody organization in Europe.

CHAPTERS

00:00 Going back to gold standard

4:18 Likely of going back to gold standard

https://www.youtube.com/watch?v=t49iE4BaVs4

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Good evening Dinar Recaps,

Qatar Central Bank Announcement | QNA

Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."

Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.

Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system.  QNA

© Goldilocks

~~~~~~~~~

"Louisiana Reaffirms Gold and Silver As Legal Tender"

Louisiana is the latest of many states that have gone through the legislative process to confirm that gold and silver are now considered legal tender and cannot be taxed.

This allows new monetary policies to form an expansive view of precious metals now being incorporated into the payment system as a form of legal tender.

On May 8th, 2024, "U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion."

The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League is currently on the table to consider precious metals on par with the US dollar.

This will keep money in the hands of the people instead of the federal government who want to grab capital gains tax on the use of what was formerly known as a solid payment system.

At the present time, 40 States have passed some form of Sound Money legislation. The next step is to take these new measures to the Federal Government.  Morning Star  Money Metals  Congress  Forbes

Gold will set us free!

© Goldilocks

~~~~~~~~~

The following is a list of recent bank mergers and acquisitions that are currently taking place. This list grows daily, and you can refer to it anytime you like through the link below.

We have talked about this as being part of the end game when we move from Fiat to Gold for the last 3 years.
***************************
The banking system is currently in a liquidity crisis that is not being talked about, and many changes are taking place behind the scenes.

I see these bank mergers as part of the process that will move our money into a safer Financial System than before, and one that will meet the needs of the next stage of our evolution financially and spiritually.   iBanknet

We are truly witnessing the rebirth of a Global Nation.

© Goldilocks

~~~~~~~~~

"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"

Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency.

Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World.

The need for these entities is going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange.  CBI   Bank Note World
© Goldilocks

~~~~~~~~~

READ HERE

file-171741265259795.pdf

~~~~~~~~~

A financial storm is coming that governments cannot fight | Finance Yahoo

~~~~~~~~~

Aeroponic Farming in India: Simplest and Best Guide Ever | Times of Agriculture

~~~~~~~~~

Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself as a leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. | PwC

~~~~~~~~~

USD3 Announcement | Crypto Reporter

Fintech company  Stable.com announced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players.

USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone.

It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.

USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.

~~~~~~~~~

‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge - The Daily Hodl

~~~~~~~~~

Here’s Everything You Need To Know About Banking-as-a-Service | Inc42

~~~~~~~~~

Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.

Both Gold and Digital Assets are in their final phases of legislative development and completion.

Enjoy the show.

© Goldilocks

~~~~~~~~~

VaultChain Gold  | Kitco

~~~~~~~~~

LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod  | Youtube

~~~~~~~~~

In 1912, American financier and investment banker J.P. Morgan said, “Gold is money. Everything else is credit” during his testimony before Congress.

~~~~~~~~~

"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use of XRP in a public questionnaire about CBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." | The Crypto Basic

~~~~~~~~~

Follow Goldilocks' Roadmap

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Thank you Dinar Recaps

“Tidbits From TNT” Monday 6-3-2024

TNT:

Tishwash: It includes international agencies...preparing to open the largest mall in an Iraqi governorate

The Muthanna Investment Authority announced today, Monday, the imminent opening of (Al-Baraka Mall) in the center of Samawah city, implemented by investor Sheikh Hatem Al-Khawam, and it is considered one of the largest malls in the governorate and neighboring governorates. 

Chairman of the Muthanna Investment Authority, Adel Dakhel Al-Yasiri, said, “This important commercial center, which was built on an area of ​​(12,300 square meters), includes (100) various stores, (12) restaurants and hypermarkets with an area of ​​(2,000 square meters), a children’s play area with an area of ​​(1,300 square meters), and a coffee shop.” And branches of several banks and international agencies for clothing and meals, and a garage that can accommodate (80) vehicles, and the implementation of a multi-storey garage is underway in addition to the project to accommodate more vehicles. 

He added, "The project employs dozens of workers, including technicians and administrators, daily, while the number will increase during the commercial operation phase."  link

************

CandyKisses:  External praise for Iraq's banks: very advanced in electronic banking services

Economy News - Baghdad

The Union of Arab Banks confirmed on Monday that Iraq is very developed in electronic banking services, while pointing out that the Iraqi banking sector is ancient and its role is vital in economic development.

The Secretary-General of the Union of Arab Banks, Wissam Fattouh: "There is a deprivation of dealing in the dollar and not sanctions, because sanctions mean inclusion on the sanctions list," pointing out that "the impact of deprivation is almost equivalent to sanctions because banks are difficult to work without the dollar currency, which represents the currency of international trade."

Fattouh added, "The Iraqi banking sector is a long-standing sector with a history, with total assets of $ 157.9 billion, and even deposits belonging to it more than $ 100 billion. Therefore, this sector is important and its role is vital in the economic development of the heart of the country."

He stressed "the need to apply international standards, especially with regard to standards and laws in force to combat money laundering and terrorist financing."

He pointed to "the involvement of the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this goal that is really required, and to train and qualify Iraqi cadres in particular."

He pointed out that "there is a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Mohammed Shia al-Sudani made an important historic visit to the United States of America."

"The biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks," he said.

"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance," he said.

************

CandyKisses:  Taif Sami talks about the allocations of the governorates in the budget

Baghdad - Iraq Today:

Finance Minister Taif Sami stressed the ministry's keenness to support all governorates according to what is scheduled in the budget.

The Ministry of Finance explained in a press statement that "Finance Minister Taif Sami received Maysan Governor Habib Zahir Al-Fartousi, to discuss the financial reality of the province and its needs for vital projects."

She added, "The Minister of Finance discussed the most prominent financial challenges facing the province, and ways to address them, as well as a number of projects that the province intends to implement during the coming period."

Sami pointed out, according to the statement, "the ministry's keenness to support all Iraqi provinces as scheduled within the draft general budget, and to provide the necessary facilities for them to implement their projects and improve the level of services provided to citizens."

For his part, the Governor of Maysan expressed his appreciation to the Minister of Finance for its interest in improving the financial and economic reality of the governorate, and its continuous support for the implementation of its projects to achieve sustainable development in it.

************

CandyKisses:  Political decision fails to pass new budget law

Baghdad - Iraq Today:

The parliamentary finance committee failed to vote on the budget tables in preparation for their presentation in the House of Representatives session scheduled for Monday.

Committee member Mustafa al-Karawi said in a press statement that "the Finance Committee met today, with its full members, in order to vote as a final decision on amending the budget tables, or passing them as they are, but at the last moments of the meeting came the political decision to postpone the vote until further notice to end the meeting without resolving the decision within the committee."

"During the meeting, MPs put forward a number of views on the importance of supporting sectors that suffer from lack of allocations, such as the service sectors, water resources and agriculture, as they are in direct contact with the citizen," al-Karawi said.

He pointed out that "political agreements are disrupting the budget schedules so far," noting that "the failure to resolve the budget schedules file by the Finance Committee, means that the fate of the session to vote on these tables in parliament "will be unknown."

************

Mot: ........ Tah Dah! –

Mot: .. Welllll - Opal - I Do!!! – LOL 

Iraq Economic News and Points To Ponder Late Sunday Evening 6-2-24

Iraq Economic News and Points To Ponder Late Sunday Evening 6-2-24

A Decline In Iraq's Oil Exports To The United States During The Past Week

Economy |  06/02/2024  The US Energy Information Administration announced on Sunday that Iraq's oil exports to America had declined over the past week.

The administration said in a table seen by Mawazine News, that “the average US imports of crude oil during the past week from 9 major countries amounted to 5 million and 467 thousand barrels per day, an increase of 226 thousand barrels per day compared to the previous week, which amounted to 5 million and 241 thousand.” barrels per day.

She added, "Iraq's oil exports amounted to 233,000 barrels per day last week, down by 6,000 barrels per day from the previous week, which amounted to 239,000 barrels per day."

She confirmed that "most of America's oil revenues came from Canada at an average of 3.666 million barrels per day, followed by Mexico with an average of 551 thousand barrels per day, followed by Saudi Arabia with an average of 422 thousand barrels per day, and from Libya at an average of 262 thousand barrels per day."

She explained, "The amount of American imports of crude oil, from Brazil, was at a rate of 127 thousand barrels per day, from Ecuador at a rate of 103 thousand barrels per day, from Nigeria at a rate of 71 thousand barrels per day, and from Colombia at a rate of 32 thousand barrels per day." https://www.mawazin.net/Details.aspx?jimare=249007

Today...The Central Bank Sells $281 Million In The Currency Auction

Political |  06/02/2024   Baghdad - Mawazine News  The Central Bank’s dollar sales rose today, Sunday, to more than $281 million in the currency auction.

The Central Bank sold in its auction today 281 million and 584 thousand and 592 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 261 million and 74 thousand and 592 dollars, an increase of 92% over cash sales of 20 million and 510 thousand dollars.   https://www.mawazin.net/Details.aspx?jimare=249027

Judiciary: Committed To Combating Corruption

Economy   Sunday, June 2, 2024 5:20 PM   Baghdad/National News Center The Supreme Judicial Council  Announced    Judge Najm Abdullah Ahmed, Chief Public Prosecutor, said in a speech he delivered during the conference “The Judicial System in Iraq and Major Corruption Cases,” which was organized with the support of the United Nations Development Program and the European Union, that “Iraq is keen to implement the national anti-corruption strategy, with the aim of building A fair and transparent society, and enhancing citizen confidence in national institutions through a policy that seeks to uncover negative phenomena and activate a societal culture that rejects corruption.”

He added that “the efforts of the United Nations Development Program had a prominent impact in supporting Iraq’s efforts to combat corruption by holding seminars and workshops and providing recommendations and consultations, in line with the requirements of the United Nations Convention against Corruption,” noting that “the first report of the program to follow up on trials of corruption cases Strengthening arbitration reflects this trend.”

He explained that “the report came as a result of an intensive effort by a specialized team, based on scientific foundations in data collection and auditing, pointing to the achievements achieved by the courts specialized in corruption cases, and identifying the obstacles facing the investigative authorities, which constitute an obstacle to construction and progress.”

He pointed out that “the Supreme Judicial Council took a number of steps, including forming courts specialized in corruption cases in the investigation and trial stages, and coordinating with the Integrity Commission to prepare a comprehensive database,” pointing to “organizing training courses for public prosecution employees in all appellate areas to improve their performance in Completing investigations into corruption cases.

He stressed that “the report indicated a shortage in the number of judges, which prompted the Council to accept more than one course at the Judicial Institute to graduate judges and prosecutors,” adding that “despite the commitment of the United Nations Convention against Corruption to provide legal assistance and extradite defendants, some countries It does not respond for various reasons, which complicates the recovery of smuggled funds outside Iraq.”

He indicated that “the Public Prosecution held a series of meetings to prepare a mechanism that encourages countries to recover funds,” praising the measures of the Iraqi authorities in combating money laundering and terrorist financing, which won the approval of the Financial Action Organization for the Middle East and North Africa countries, which indicates the possibility of Iraq’s exit from... Gray list of high-risk countries.

Judge Najm Abdullah concluded his speech by emphasizing that “all observations and recommendations contained in the report will be of interest to the Supreme Judicial Council, and coordination will be made with the relevant government agencies to implement them.”   https://nnciraq.com/256883/

Planning: The Pilot Census Is Witnessing A Great Response From Citizens

Posted On06-02-2024 By Sotaliraq   The Ministry of Planning announced that a 98% participation rate was recorded in the first two days of the experimental population census, which will last 14 days, stressing that these numbers confirm that it will be very successful as a result of the large response from citizens.

The Executive Director General of the General Population Census, Ali Erian, said, “The experimental census was initiated, which is the first nucleus for moving forward with the implementation of the General Population and Housing Census in November 2024, as all indicators were good and proceeded with a normal flow.”

He added, “The experimental census is a miniature of next year’s census, as in this stage we targeted 84 areas, including 44 areas in the lockdown and 40 areas in the countryside across Iraq, and more than 600 male and female researchers participated in it.”

He pointed out, “There is a great response from citizens, whether in lockdown or in the countryside, to conduct the population census, and it far exceeds international countries,” stressing that “the response rate reached 98 percent.”

Yesterday, Friday, the Ministry of Planning announced the launch of experimental census activities throughout Iraq.   LINK

Al-Sudani Chairs A Special Meeting For The Industrial Project Financing Initiative

Sunday 02, June 2024 | Economical Number of readings: 229   Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting on the initiative to finance industrial projects./End H   https://ninanews.com/Website/News/Details?Key=1130197

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.- Frances Ellen Watkins Harper

The causes of mistakes are "I didn't know"; "I didn't think"; and "I didn't care."- Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.- John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.- Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.- Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.- Antoine de Saint-Exupery

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24

Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24

Good evening Dinar Recaps,

"This joint proposal from the Bank of England and the Financial Conduct Authority (together, “the UK regulators”) for a digital securities sandbox (“DSS”) reflects a commendable commitment to incorporating innovation into the financial system."

A letter was sent to the Digital Securities Sandbox joint Bank of England and Financial Conduct Authority regarding this consultation paper.  

If all goes well in this pilot phase / sandbox movement forward, all would commence so long as the United States doesn't have anything further to add from the new Markets in Crypto Assets (MICA) regulations.

This consultation paper will be added to the current work taking place on legislation in Washington. See Rep. McHenry, Patrick T, H.R. 7440 – Financial Services Innovation Act of 2024, US Congress (Feb. 23, 2024). 

The purpose of this consultation letter is to make it clear the intended role of the new Digital Financial/Payment System will take going forward.

The following is the stated purpose: "A sandbox is designed to generate real-world insights about whether distributed ledger technology (“DLT”) could streamline the issuance, trading, and settlement of securities without undermining investor protection, market integrity, or financial stability."

These new regulations under the authority of the FCA has the potential to change the way settlement processes are being done, and this concerted effort is to affirm coordinated actions inside of a sandbox to make sure the US and UK can coordinate and implement a final phase by the end of June when it becomes law. SEC  Bank of England  The Financial Conduct Authority  DFSA  

© Goldilocks

~~~~~~~~~

We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy.

© Goldilocks

~~~~~~~~~

Chairman of the Finance Committee: We are ready to present the final report on the budget schedules | Iraqi News Agency

"Baghdad-INAThe Parliamentary Finance Committee announced today, Friday, that it will continue revision and reviewing the 2024 budget schedules to complete it on time in order to vote on them in Parliament, while confirming its readiness to present the final report on the budget schedules in next Monday's session."

This meeting on Monday is regarding budget schedules. No mention of exchange rate changes is expected to be a part of this meeting.

© Goldilocks

~~~~~~~~~

How AI is Paving the Way for a New Era in Financial Services - The Global Treasurer

~~~~~~~~~

Mastercard and HSBC Middle East accelerate travel payment innovation through bank’s first wholesale travel program | Mastercard

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In the Face of Unrelenting Change, Corporations Embrace Innovation and Leadership  |  The Global Treasurer

Corporations today must adapt to constant change to stay competitive, with corporate treasuries leading the charge in managing liquidity and risk.

The introduction of ISO 20022 marks a significant shift in corporate payments, offering a unified standard that promises enhanced transaction transparency and speed.

Corporate treasuries are redefining their strategies to leverage this standard, expanding their roles to include innovative technologies for efficiency and cost reduction. 

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IMF Calls Zimbabwe's Switch To A Gold-backed Currency An "Important" Step | Pindula
The introduction of ZiG represents an important policy action accompanied by several complementary policy changes — including monetary, exchange rate, and fiscal policy measures.

Having a gold standard stabilizes prices and foreign exchange rates.

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US unveils policy to boost carbon offset market integrity | Reuters

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As society accelerates its decarbonization journey, the resource inputs necessary for this energy transition are appreciating in value. This article will spotlight the pivotal role of copper in this transition and the ETF solutions that enable investors to tap into this burgeoning market.  |  ETF Market

👆  Goldilocks pointed to this article

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Iraqi News Highlights and Points to Ponder Sunday AM 6-2-24

Iraqi News Highlights and Points to Ponder Sunday AM 6-2-24

Parliamentary Praise For The Current Year’s Budget: The Best Since 2003

Money  and business Economy News – Baghdad  Chairman of the Parliamentary Services and Reconstruction Committee, Representative Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.

Al-Hamidawi stated in a brief statement, followed by Al-Iqtisad News, that “the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.”

He added, "The budget includes promising service projects for the governorates," pointing out that "members of the House of Representatives will vote on Monday on the schedules to launch a new phase of services and construction in the government of achievements." 102 views 06/02/2024 https://economy-news.net/content.php?id=4393

A Final Meeting Of The Parliamentary Finance Committee To Complete The Budget Law Schedules Report

Sunday 02, June 2024 13:20 | Economical Number of readings: 181  Baghdad / NINA / Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.

Since last week, the committee has continued its periodic meetings in the Guest House building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday, which the Presidency of the House of Representatives decided to allocate for voting on the schedules of General Budget Law No. 13. For the amended year 2024 and its annexes, Tables A/B/C/D/E/F./End 5

https://ninanews.com/Website/News/Details?key=1130151

Parliament Holds A Session To Vote On The 2024 Budget Schedules

Iraq  2024-06-02  The House of Representatives is scheduled to hold its regular session, tomorrow, Monday, to vote on the schedules of Federal Budget Law No. 13 for the year 2024 and its annexes.

The representative of the Patriotic Union of Kurdistan bloc, Dr. Briar Rashid, told PUKMEDIA: The House of Representatives has postponed its legislative recess to vote on the federal budget schedules for the year 2024.

He added: There is pressure from Federal Prime Minister Muhammad Shia al-Sudani and some political parties to vote on the budget schedules so as not to disrupt government affairs. Federal and continuing to provide services to citizens.

He explained: Voting on the budget tables requires the presence and voting of 165 deputies, and the government needs to vote on these tables, so it wants to speed up the vote on them.

Representative Briar Rashid continued: The House of Representatives will hold its regular session at exactly three o’clock in the afternoon tomorrow, Monday, to vote on the schedules of the Federal Budget Law for the year 2024.   https://kirkuktv.net/AR/Details/21071

Deputy: The Budget Does Not Contain Appointments And Contains Taxes On Electricity And High Gasoline Prices

Policy  06-02-2024 | 2,828 views  Alsumaria News – Politics  Member of the Legal Committee in the House of Representatives, Raed Al-Maliki, revealed today, Sunday, that the budget tables sent from the Council of Ministers to the House of Representatives are devoid of new appointments, noting that they contain large taxes on electricity supply as well as a “possible” rise in gasoline prices. .

Al-Maliki said in an interview with: Alsumaria News “The budget tables sent by the government do not contain any new appointments and there are no increases for any societal or functional segments,” indicating that the tables received from the government only contain changes in terms of allocations to ministries, and allocations allocated to the region.Kurdistan".

Al-Maliki added, "The schedules also contained some amendments related to financing methods," adding, "These have a major negative impact on the citizen, including imposing fees and taxes on the electricity sector, by imposing high taxes."

Al-Maliki pointed out, “The tables also included a very significant increase in the selling prices of crude oil to refinery companies, and this will lead to the refineries having two options: either to bear the loss and be loss-making companies, or to transfer the burden of additional costs to oil product distribution companies.” And companies distributing petroleum products, in turn, can transfer them to citizens and raise gasoline prices.”   LINK

Iraq Participates In The OPEC+ Coalition Meeting In Saudi Arabia

Time: 06/02/2024 Read: 585 times  {Economic: Al-Furat News} Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.

Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations.”    LINK

The Governorates’ Shares In The Budget Are Up In The Air, And The Blocs Are Trying To Rectify The Matter

Information / Baghdad...  Although the federal budget was approved for three years 2023-2024-2025; However, the schedules for each budget always raise controversy between the governorates and the Ministry of Finance.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

This is what actually happened when the 2024 budget schedules arrived in the corridors of the House of Representatives.

Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.

A statement by the committee received by “Al-Ma’louma” stated that, since last week, the committee has been continuing its regular meetings in the guest house building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday.”

He touched on the decision of the Presidency of the House of Representatives to allocate tomorrow’s session, Monday, to vote on the amended schedules of General Budget Law No. 13 of 2024 and its annexes, Schedules “A/B/C/D/E/F.”

In the meantime, the media department of the House of Representatives announced the agenda for tomorrow’s session, Monday, which includes voting on the amended schedules of Federal Budget Law No. (13) of 2024.

The 2024 budget schedules angered many representatives due to the reduction in the budgets of the central and southern governorates.

Representative Wafaa Al-Shammari confirmed that the central and southern governorates were subjected to great injustice in the current year’s budget that the government sent to the House of Representatives.

Al-Shammari told Al-Maalouma, “The bulk of building the Iraqi economy falls on the central and southern governorates,” explaining, “These governorates are the ones who finance the state treasury through their oil fields, but despite that, they suffer injustice.”

She added, "What was allocated to the central and southern governorates in the budget tables is very weak and does not match their need to sustain projects," noting that "instead of doing justice to these governorates, the government reduced their budgets and increased the Kurdistan region's budget."

In addition, member of the Parliamentary Services Committee, Mahdia Al-Lami, said today, Sunday, that the financial allocations to all governorates are not commensurate with the size of the service problems.

Al-Lami told Al-Maalouma that the governorate allocations in the 2024 schedules differ from the 2023 allocations, indicating that the percentage of infrastructure completion in some governorates does not exceed 6%.

She added, "The government is supposed to increase financial allocations to all governorates instead of reducing them."

She continued, "Budget allocations threaten service projects in all Iraqi governorates."

According to these objections, there are two trends within the House of Representatives, which will not be ignored by political discussions, after the completion of professional discussions related to the Finance Committee and the government.

First: There is a tendency in the House of Representatives to hold consensus discussions between the large blocs before voting on them.

Second: The budget is presented without agreeing on it.

The weight is based on consensus between the political blocs and finding agreed-upon formulas to give the central and southern governorates part of the reinforcements to their budgets.

However, even if the political blocs agree, these reinforcements will not meet the needs of these governorates. End 25 Q.  LINK

Provoking Thoughts and Points to Ponder on Advice :

But one must know where one stands, and where the others wish to go.  - Goethe

No man ever listened himself out of a job.  - Calvin Coolidge

Thanksgiving comes after Christmas.  - Peter Kreeft

The proverb warns that, "You should not bite the hand that feeds you." But maybe you should, if it prevents you from feeding yourself.  - Thomas Szasz

I remember my father telling me the story of the preacher delivering an exhortation to his flock, and as he reached the climax of his exhortation, a man in the front row got up and said, 'O Lord, use me. Use me, O Lord - in an advisory capacity!'  - Adlai Stevenson

http://famousquotesandauthors.com/topics/advice_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

“Tidbits From TNT” Sunday 6-2-2024

TNT:

CandyKisses:  Parliamentary praise for this year's budget: the best since 2003

Economy News - Baghdad

The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.

Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."

He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."

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Tishwash: Before submitting it to a vote...a final meeting for the 2024 budget in the corridors of Parliament today

Deputy Chairman of the Finance Committee in Parliament, MP Ahmed Mazhar Al-Jubouri, revealed today, Sunday, an expected final meeting of the committee to resolve the 2024 budget schedules, before submitting them to a vote within the Council.

Al-Jubouri said, “The powers and directions may not allow us to make amendments to the budget tables, and this may dispel the dream of many who are waiting to make amendments to them, including appointments or governorate rights, etc., and it may be difficult to change a single letter in the tables.”

He added, “The committee will open the schedules today and will discuss the possibility of making amendments to them or passing them according to the texts that reached Parliament from the government,” indicating that today’s meeting will decide whether the schedules will be passed in tomorrow’s session or moved until after Eid al-Adha.

Al-Jubouri said, “The committee members’ orientations are with the rights of citizens, but we are waiting for today’s meeting to discuss the possibility of amending them according to the necessary requirements.”

The House of Representatives had allocated its session tomorrow, Monday, as a date to vote on the federal financial budget tables, at a time when the Parliamentary Finance Committee announced, yesterday, Saturday (June 1, 2024), the near end of its work on the federal financial budget tables for the year 2024.  link

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Tishwash:  Al-Aboudi: The decision to end UNAMI’s mission in Iraq is a big step towards full sovereignty

Member of the General Authority of the National Wisdom Movement, Rahim Al-Aboudi, considered the decision to end UNAMI’s mission in Iraq a big step to prove complete sovereignty.

Al-Aboudi said {to Al-Furat News} that: “The United Nations is looking with another eye at Iraq and is following up on all political, security, social and economic activities. Therefore, this transition is a merit of the Iraqi people and political forces.”
 He added, "The government had a major role in this transition, and it is a major step to prove that Iraq has a different title and status and the need for complete sovereignty and dealing with the country on the basis of this entitlement."

Al-Aboudi continued, "Iraq adopted many decisions, as well as many foreign relations, whether at the level of Middle Eastern countries or countries of the world, in order to have a different role in the next stage."

He stated, "This decision has become an important responsibility for the government to affirm the right of the Iraqi people to be a growing and prosperous country. Today, Iraq is adopting a policy of calm in the region and proving itself."

Yesterday, Friday, the UN Security Council decided to withdraw the United Nations Assistance Mission for Iraq (UNAMI), which has been in the country for more than 20 years, by the end of 2025, at the request of Baghdad. 

The unanimously adopted resolution stipulates extending the mandate of the mission, which was established in 2003, “for a final period of 19 months until January 31, 2025.”

The Iraqi government welcomed the UN Security Council's decision to end the mandate and tasks of the United Nations Assistance Mission for Iraq. link

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 Mot:  ...... I Say !!! -- I Say!!!!  Good happy morning

Mot:  good job mom