KTFA:

Samson:  Including Iraq.. The reserves of the first five Arab countries of gold exceed 1,000 tons

13th November, 2021

The World Gold Council announced on Saturday that the possession of the yellow metal in the first five Arab countries, including Iraq, as reserves amounted to more than 1,000 tons for the third quarter of 2021.

The council said in its latest schedule for the month of November 2021, which was seen by Shafak News Agency, that "the gold reserves of Saudi Arabia, Lebanon, Algeria, Libya and Iraq rose to reach 1005.5 tons in the third quarter of this year, compared to the second quarter of it, which amounted to 996.5 tons." 

And he indicated that "Saudi Arabia's possession of gold amounted to 323.1 tons, while Lebanon's possession of gold amounted to 286.8 tons, Algeria 173.6 tons, Libya 116.6 tons, and Iraq's gold reserves amounted to 96.4 tons."

He pointed out that "the reserves of the first five countries in the world were America, Germany, Italy, France and Russia amounted to 18,672 thousand tons, and the United States of America came in the first place with 8133 thousand tons, followed by Germany with 3,259 thousand tons, then Italy came 2451 thousand tons, and France 2436 thousand tons, Russia came fifth with 2,292,000 tons.

It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.  LINK

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Samson:  Officially.. the completion of the concrete structure of the Central Bank building and becomes the highest in Iraq

12/11/2021 22:50:00

 The executing company has fully and officially completed the concrete structure of the Central Bank of Iraq tower.

The main casting has been completely lifted from all parts of the tower, followed by the implementation of the steel structure that will form the curved and undulating crown that adorns the top of the 173-meter-high building.

The tower, located in the Jadriya area in Baghdad and opposite the Tigris River, was designed by the Iraqi international engineer, Zaha Hadid, and its concrete structure will be fully completed before the end of this year 2021.

It is noteworthy that on June 13, the tower of the new building of the Central Bank officially became the tallest building in Baghdad even before the completion of its concrete structure, so that after its completion it would be the tallest building in all of Iraq.  LINK

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Don961:  Action to recover $2.2 billion in smuggled money

Sunday 14 November 2021 Baghdad: Tariq Al-Araji

 The Integrity Commission is seeking to recover more than two billion dollars of smuggled Iraqi funds, in which court rulings have been issued, as well as 14 real estate and 5 stakes in various companies. 

The Director-General of the Recovery Department in the Integrity Commission, Dr. Moataz Faisal Al-Abbasi, told Al-Sabah: "The Commission has a database that classifies funds according to the functions and competencies of the Recovery Department under its federal law on corruption funds, and it is necessary to refer to the recovery mechanism, which begins with issuing the decision. Judicial proceedings involving damage to public money, and when it is proven that the convict or the wanted person has money in another country, it requests its seizure pursuant to a request for legal assistance.

He continued, "Those funds that were filed in lawsuits to recover them amounted to (17.7) million dollars, while the authority was able to seize funds in various countries amounting to (4.17) million dollars, and work is underway to recover them, in addition to the seizure of (14)". real estate and (5) stakes in different companies," he explained, explaining that "the sums of which judicial rulings have been issued and are being worked on, amounted to approximately two billion and two hundred million dollars."

He explained that "the smuggled assets are divided into before 2003 and after that date, and the recovery department and the Iraq Fund for Recovery Fund are concerned with recovering them," and indicated that "the financial assets dating back to before 2003 generally include money belonging to people or front companies that were put in order to circumvent the sanctions." International, financing the former regime for security purposes, and financing external activities and using them to entice and intimidate, such as protecting the regime and trying to implement its own policies outside Iraq.

He pointed out that "these assets, whether they are money, real estate, or various assets, are within the jurisdiction and work of the Iraq Funds Recovery Fund, and they are funds classified by the law establishing the Fund as illegal funds, and relates to the time period before (2003), while the recovery department is concerned with smuggled funds. As a result of corruption, for which judicial rulings were issued after the establishment of the Integrity Commission and granting it this jurisdiction.”   LINK

Under the heading "Requirements and steps to join the Buna Platform"

12th November, 2021

The Arab Monetary Fund is holding an interactive workshop to review the process of preparation and preparation for participation in the "Bunna" platform for Arab payments

The workshop will host more than 200 participants from representatives of central banks and Arab, regional and international financial and banking institutions

Today, Thursday, November 11, 2021, the Arab Monetary Fund will hold a "remote" workshop to review the stages of joining the "Bunna" platform for Arab payments, affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, starting from registration and signing through to with technical equipment and training, all the way to full membership in the "Buna" network of participating banks and financial institutions

In the workshop, a team from the team working on the “Bunna” platform for Arab payments will talk about all the steps related to the process of joining “Bunna”, and the attendees share their experiences and expertise in supporting and assisting banks and financial institutions participating in the “Bunna” platform for Arab payments to join the “Bunna” system. The implementation of cross-border payments in the listed Arab and international currencies

The speakers will provide an integrated explanation that includes the steps that those wishing to join the “Bunna” platform should follow to complete the integration process easily and conveniently within a short period of time, and take advantage of the readiness and capabilities of the “Bunna” system to secure interconnection and communication between all banks and financial institutions operating in the Arab region and abroad

More than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad will participate in the workshop, to get acquainted with these important and vital topics about the Buna Arab Payments platform

On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunni Platform for Arab Payments), said: “Bunni’s ability to provide a flexible and advanced path to complete the process of joining its payments system and thus persevere in building and expanding its network of participating institutions, constitutes a key element in the implementation of its plans aimed at establishing a wide presence at the regional and international levels

Mana added : “The momentum we are witnessing in the growth and expansion of our network of participating entities is not only evidence of the success of our system and the level of acceptance it enjoys, but it also motivates us to improve and benefit from the lessons we learn daily through our interaction with users of this system.

We are confident that the element of cooperation is an essential factor for achieving growth in the payments and financial sector in the Arab region, and contributing to increasing the efficiency of cross-border payment activities at the international level

It is worth noting that the "Buna" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. 

Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. 

"Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects  

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MilitiaMan:  The AMF pulled this article.. I don't have a working link... But it was from today..

The articles above and below are a key indicator that the BUNA platform is well tested and proven to be effective and has acceptance in the region and globally.

 The USA is fully involved and we know that JPMC is involved with the digital dollar and Iraq is to have a Digital Dinar.

Just as up to and or over 136 countries are to also possibly to be cleared, as noted directly by the UST. Interesting that they placed the article out on a Friday and then yanked it.. Always a purpose for this sort of thing and it is not the first time either.. imo ~ MM 

https://www.amf.org.ae/ar/content/تحت-عنوان-%25C2%25A0متطلبات-وخطوات-الإنضمام-لمنصة-بُنى

MilitiaMan Cont….. “He said that: “The momentum we are currently witnessing in the growth and expansion of our network of participants, It's not just proof of the success of our system and the level of acceptance it has, and of the kind of acceptance that it has. It is also a motive for us to improve and to learn from the lessons we learn daily through our interaction with the users of this system.

 We are confident that the cooperation component is a key factor for growth in the area of payments and the financial sector in the Arab region, and we are also convinced that the cooperation component is a factor that is essential for growth in the area of payments and in the financial sector, and that the financial sector is a major factor in the region, and that the international community is a major factor in the process of being able to achieve growth in the area of payments and in the region, and that the United States is a major factor in the region.

Contributing to the efficiency of transboundary payment activities at the international level.” It should be noted that the Building Platform is an integrated and specialized system in providing clearing and settlement services in Arab currencies and international currencies, The aim of the empowerment of financial and banking institutions in the Arab region and beyond, including central and commercial banks, From the safe, reliable, appropriate and effective dispatch and receipt of interaction payments throughout the Arab region.

 “Built” to participants offers modern momentum solutions consistent with international standards and principles and requirements of compliance. “Built” contributes to the promotion of economic and financial integration in the Arab region and to support investment links with trading partners on various continents. It states that participation in the rostrum is available to all banks and financial institutions that meet the criteria and conditions for participation in it, Most notably, the standards and procedures for compliance aspects.

He said that: “The momentum we are currently witnessing in the growth and expansion of our network of participants, It's not just proof of the success of our system and the level of acceptance it has, and of the kind of acceptance that it has. It is also a motive for us to improve and to learn from the lessons we learn daily through our interaction with the users of this system.

We are confident that the cooperation component is a key factor for growth in the area of payments and the financial sector in the Arab region, and we are also convinced that the cooperation component is a factor that is essential for growth in the area of payments and in the financial sector, and that the financial sector is a major factor in the region, and that the international community is a major factor in the process of being able to achieve growth in the area of payments and in the region, and that the United States is a major factor in the region.

Contributing to the efficiency of transboundary payment activities at the international level.” It should be noted that the Building Platform is an integrated and specialized system in providing clearing and settlement services in Arab currencies and international currencies, The aim of the empowerment of financial and banking institutions in the Arab region and beyond, including central and commercial banks, From the safe, reliable, appropriate and effective dispatch and receipt of interaction payments throughout the Arab region. “Built” to participants offers modern momentum solutions consistent with international standards and principles and requirements of compliance. “Built” contributes to the promotion of economic and financial integration in the Arab region and to support investment links with trading partners on various continents. It states that participation in the rostrum is available to all banks and financial institutions that meet the criteria and conditions for participation in it, Most notably, the standards and procedures for compliance aspects.”

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FOR IMMEDIATE RELEASE

October 13, 2021

 Contact:                      Alexandra LaManna; Press@Treasury.gov

 READOUT: Secretary of the Treasury Janet L. Yellen’s Meeting with G7 Finance Ministers and Central Bank Governors

 WASHINGTON – Secretary of the Treasury Janet L. Yellen participated in an in-person meeting of the G7 Finance Ministers and Central Bank Governors today. G7 Finance Ministers applauded the historic deal between 136-nations that will reshape the international tax system and equip the global economy to meet the needs of the 21st century.

Along with her counterparts, Secretary Yellen endorsed the G7 Public Policy Principles for Retail Central Bank Digital Currencies (link) and the G7 issued an accompanying statement on digital payments (link). She also expressed her strong support for efforts to channel Special Drawing Rights (SDRs) to further support vulnerable economies, including the rapid establishment of a new trust fund at the IMF to support economic transitions related to pandemic preparedness and climate change. G7 Finance Ministers also discussed the macroeconomic implications of climate change and the importance of resilient global supply chains.