KTFA Members "News and Views" Monday Afternoon 3-22-2021
KTFA:
Samson: The Central Bank of Iraq adds a new feature to Iraqi banknotes
22nd March, 2021
The Central Bank of Iraq announced that it has added the feature of protecting banknotes from bacteria and viruses, including the CoronaT virus strain, which will soon be put into circulation, by adding the biological pesticide developed by international companies specialized in printing banknotes in coordination with the competent authorities.
The Central Bank of Iraq
Information Office March
March 22, 2021 LINK
Coco: This is great! An excuse to issue new currency (New small category notes) due to the China Virus.
Snod: Considering all the other information around this, this could be the beginning of the NSCN education.
DeepWoodz: Imo....Considering they’ve been collecting and destroying 000’s one can logically assume this wouldn’t be more of the same. Actually one could assume that they are just now reporting some details of what’s in the ATM’s!!! It’s getting round here!!! THIS SHOULD TELL A TALE OF NSCN’s!!! (new small category notes)
Trevor: id like that but is only a biological pesticide
DeepWoodz: Imo.... I think more to it than that....
FA 123 (Final Article)
Author - Ahmad Salami
- Dinar plastic (polymer)
- Restructuring of the Iraqi currency
- Re-evaluate the value of the dinar
- Iraqi dinar (polymer):
1.eetm the use of plastic money and made of material plastic polymer high-efficiency rather than paper made from cotton material and paper used in the money industry today and that are exposed to rapid deterioration use life short and the movement of disease transition and endemic and infectious bunches bacterial with it and move on to people when you touch Kalmndel infested.
2. plastic money outlive most of its peers paper twice a number of years and do not affect the high temperatures and humidity, water, dyes, crushing and does not allow the formation of clusters of bacterial Ovairoseh.
3. plastic money security features very high degree forgery make it almost impossible to 99.9%.
4. plastic money can be recycled after it is damaged and the use of new raw materials reduces costs to a very high percentage Unlike paper that Taathra and lose parts and comes with stickers or dyes, which burned and then buried. Nor used as the raw material.
5.alncod plastic as far as being the most evolved its industry costs less than the cost of paper-based counterparts.
6.dol world began a gradual transition to plastic money instead of paper and the first Arab state of Kuwait is applied to the new currency system.
DeepWoodz: FA 1,,,,,,,2,,,,,,,3 this is it!!!
Cheers...FA 105 also gives mention of polymers for their currency.....
"The world is beginning to turn into plastic prints, Malaysia, so the currency is long and non-perishable and counterfeit, and here we call on the Central Bank of Iraq to take the same step because the life span of the current paper currency does not exceed 6 months," suggesting "conversion Coins of small groups of paper to metal and thus longer life
AND....if you want some interesting reading check out FA 231....tells of American plastic coated currency being sent to Iraq for oil....
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Don961: Iraq uses a feature for banknotes to protect against viruses
356 Economie 2021/03/22 10:07 am Baghdad today - Baghdad
Today, Monday (March 22, 2021), the Central Bank of Iraq announced the addition of a new feature to protect Iraqi banknotes from viruses and bacteria.
The bank’s media office stated, in a statement received (Baghdad today), that it “added a feature to protect banknotes from bacteria and viruses, including the Corona virus strain, which will soon be put into circulation.”
The statement added, "This is by adding the biological pesticide that has been developed by international companies specialized in printing banknotes in coordination with the competent authorities."
On Tuesday (August 18, 2020), the Central Bank of Iraq called on citizens to "not hoard money in homes", and to deal with banks and financial intermediation companies during large cash exchanges, warning of the role of securities in transmitting viruses and bacteria, including Corona .
A statement by the bank said that it seeks, through these directives, to "preserve the money supply of citizens, avoid cases of theft and fraud, and promote counterfeit currencies."
The bank stressed the need to reduce trade exchange in paper currencies, "which medical studies have proven to be an effective vector for viruses and bacteria, especially since the country is going through a crisis of spreading the Coronavirus."
The Central Bank indicated that it adopts "mechanisms for the spread of financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through banking transactions with modern technologies and in all their forms." LINK
DeepWoodz: Imo....We heard this before...I believe it’s another attempt at getting them mattress dinars. Of course with the inclusion of “Hey, we are going to be issuing new currency!”
Samson: Baghdad hosts a tripartite international summit at the end of this month
16:40 - 22/03/2021
An Iraqi government source revealed, on Monday, that Egyptian President Abdel Fattah Al-Sisi and King Abdullah of Jordan will visit the Iraqi capital Baghdad at the end of this month to hold a tripartite summit with the Iraqi prime minister with the aim of discussing building an independent political axis in the region.
The Russian agency "Sputnik" quoted the source as saying that "at the end of this month, a visit will be made by the President of the Arab Republic of Egypt, Abdel Fattah Al-Sisi, as well as by the Jordanian King Abdullah II, and it will be a tripartite summit that brings together brothers in the three countries, Iraq, Egypt and Jordan."
He added that "the summit aims to build an independent political axis in the region, and will discuss political, economic and security files."
It is noteworthy that the Jordanian capital, Amman, hosted a summit between the three countries late August of last year, with the participation of King Abdullah II bin Al-Hussein, Egyptian President Abdel Fattah Al-Sisi and Iraqi Prime Minister Mustafa Al-Kazemi, focused on expanding economic, commercial and investment cooperation between the three countries, in order to achieve their common interests. And it serves Arab causes. LINK
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Samson: New York Convention: Legal Opinion
19th March, 2021
Iraq finally says YES to Arbitration.
The Law on the Accession of the Republic of Iraq to the New York Convention 1958 on the Recognition and Enforcement of Foreign Arbitral Awards finally got assent from parliament.
For many years, the law of arbitration has been on the parliament's desk awaiting approval. The Iraqi parliament has finally decided to accept the ratification of the New York Convention of 1958 on March the 4th, 2021, to support the government's efforts to promote international investment and commerce in Iraq.
On the 4th of March 2021, the Iraqi Parliament has approved the "Accession of the Republic of Iraq to the Convention on the Recognition of Foreign Arbitral and its Implementation (New York 1958)" which ratifies the Iraqi government accession to the Convention on the Recognition and Enforcement of Foreign Arbitral Awards.[1] The Cabinet of Ministers headed by Haider Al-Abadi voted to approve the Convention in April 2018.
Iraq is now attracting more investors than ever before; implementing this law will assist the Iraqi rule of law framework and road map in attracting more foreign investors. The ratification of the New York Convention has the ability to simplify and strengthen the method of enforcing international arbitral awards in Iraq.
The convention gives international investors a sense of security by ensuring that international arbitral awards can be enforced against companies with assets in Iraq. Arbitration remains the best guardian for international trade and foreign investments. At a time of fallback and protectionism, it also remains a powerful peacemaker.
Initially, The Riyadh Arab Agreement for Judicial Cooperation of 1983 (the "Riyadh Convention") and the Enforcement of International Judgments Law (No. 30) of 1928 established the essential basis for the enforcement of foreign arbitral awards before the New York Convention. The jurisdictions from which awards could be granted is severely restricted by these rules.
There are three limiting clauses in the Law of Accession that should be considered:
The provisions of this Convention vis-à-vis the Republic of Iraq shall not apply to arbitral awards made prior to the entry into force of this Law.[2]
The Convention shall apply only to the recognition and enforcement of decisions made in the territory of another Contracting State on the basis of reciprocity.[3]
That the Convention shall only apply from the Republic of Iraq only to disputes arising out of contractual legal relations that are commercial under Iraqi law.[4]
The Law of Accession will take effect once it has been published on the (Al-Waqai Al-Iraqiya), the official newspaper of the Republic of Iraq, which should happen soon. LINK
DeepWoodz: Imo...Another huge milestone that we didn’t know was coming and definitely needed! At least I didn’t know!! This is HUGE!!!
Samson: Pope: The mafia is exploiting the Corona pandemic for more wealth
22:28 - 21/03/2021
Pope Francis called for the fight against organized crime groups, such as the Mafia, around the world, warning that criminals are taking advantage of the Covid-19 pandemic to gain more wealth.
In a sermon delivered at noon on Sunday, in which Italy commemorates the victims of organized crime, the Pope said that "mafia gangs are present in many regions of the world and are gaining more wealth for themselves through corruption, taking advantage of the pandemic." He described them as sinful organizations that "are not part of the religion in anything."
He added, "Let us today remember all the victims and renew our commitment to fighting the mafia gangs."
Italian police say crime groups are using the pandemic to gain the confidence of poor families facing financial hardship by providing loans and food commodities.
Last December, the Paris-based International Police (Interpol) issued a global warning that organized crime networks were targeting Covid-19 vaccines. LINK