KTFA Members "News and Views: Monday 7-3-2023

KTFA:

Turk182:  Yes, it is true, this will be a Non-Event (Media Wide) - 

it has be said for many years, that "One day you will just wake up to a new rate.  No fan fare, nothing.  Just a New IQD Rate".

Understand.  This is NOT about YOU!  This is about the Citizens of Iraq.  Yes, THEY will wake up one day with something other than their current Program Rate of 1,310 +/-

The Iraqi Citizens may very well wake-up one day with their rightful rate of the IQD.  

Contrary to popular belief, this "Change" will NOT take place during the day!  FACT!

IF this New Rate does NOT show @ 12:01AM, the it will NOT show at all that day.  FACT!  No Country would EVER change the value of their currency "Mid-Day"

Todays "Window" in Iraq is already gone.  Lets hope for something tomorrow, (THEIR) Tuesday, July 04th 2023

Do TalktoMe:  We were trusting for a new rate and NSCNs  (new small currency notes) after the holiday. We were never told how many days, or weeks after ….At the end of the day This is IRAQ

Clare:  Owners of banking companies are calling for an amendment to the Central Bank of Iraq's policy in the currency auction 

7/03/2023

Dozens of owners of banking companies demonstrated in Baghdad, on Monday, to protest against the Central Bank of Iraq's policy of selling dollars in the daily auction.

Shafaq News Agency reporter stated that the owners of exchange companies gathered in front of the Central Bank building in the center of the capital, Baghdad, demanding the stability of the dollar exchange rate, and not limiting its sale to travelers, as this contributes to the smuggling of hard currency outside Iraq.

The demonstrators also called for the implementation of Law No. 56 of 2004, which gives the Central Bank exclusive power to supervise and inspect its financial institutions.   LINK

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Clare:  Finance: Banks stop receiving customers for the purpose of the semi-annual inventory

7/03/2023

An official source in the Ministry of Finance announced, on Monday, that all banks have stopped receiving customers for the purposes of the semi-annual inventory.

The source told Shafaq News Agency, "Bank credits and facilities will be suspended today for the purposes of applying semi-annual accounts and budgets, and therefore there will be no reception for customers today."

He added, "The banks will resume their work tomorrow, Tuesday," stressing that "the salaries of retirees will not be affected if they are launched by this matter, because they are raised electronically." LINK

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Clare:  Economist: Achieving economic sovereignty will liberate Iraq from American pressures

7/03/2023

Economic expert Mustafa Akram Hantoush confirmed today, Sunday, that achieving economic sovereignty will liberate Iraq from American pressures on the Central Bank and Iraqi banks.

Hantoush said, in a statement to Al-Ahed website, followed by “Al-Ahed News,” that “economic sovereignty means the independence of the economic and financial decision in the implementation of strategic and vital projects.”

He added, "The economic openness to the world will enable Iraq to get rid of the dominance of the dollar and oil, which witnesses fluctuations in prices from time to time."

Hantoush pointed to "the need to diversify sources of income through the implementation of major economic projects to achieve economic sovereignty," noting that "Iraq is facing a correct economic direction, if it succeeds in it, it will have economic diversity and sovereignty, which is entering into profitable economic projects such as the port of Faw."    LINK

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Clare:  Fouad Hussein arrives in London on an official visit and holds political and economic meetings

7/03/2023

The Iraqi Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, arrived on Sunday in the British capital, London, on a two-day official visit.

A statement from the ministry received by Shafaq News agency stated, "The visit comes to hold a number of meetings within the framework of strengthening bilateral relations between Iraq and the United Kingdom within the Iraqi-British strategic dialogue."

She explained that "the Minister of Foreign Affairs will hold several bilateral meetings, as he will meet with his British counterpart James Cleverly, Minister of Defense Ben Wallace and Minister of State for Immigration Affairs Robert Jenrick, and Minister of State for Security Affairs in the British Ministry of the Interior Mr. Tom Tokhandat, in addition to holding meetings with the Chair of the Foreign Relations Committee in Parliament." Briton Elisha Cairns, Defense Committee Chairman Tobias Elwood, All Parties for Iraq (APPG) and others.

In the context of strengthening economic relations between Iraq and the United Kingdom, the Foreign Minister will hold several meetings with the European Bank for Reconstruction and Development (EBRD), and a number of businessmen within the Arab-British Chamber of Commerce symposium, in addition to meeting with the CEO of the British company BT and others.   LINK