More Iraqi News Sunday PM 11-8-20
More Iraqi News Sunday PM 11-8-20
TLM724 Administrator BondLady’s Corner
A parliamentary proposal to hold a joint meeting of representatives of the components in the provinces and regions related to Article 140 of the Constitution
Sunday 08, November 2020 18:14 | PoliticalViews: 22 Baghdad / NINA / The Parliamentary Committee on Constitutional Amendments suggested holding a joint meeting for all representatives of the Iraqi components in the governorates to which Article 140 relates.
During its meeting today, the committee discussed the postponed constitutional articles related to the Federal Service Council and Article 140, and the interventions and suggestions of a number of members were presented, and the committee decided to postpone the discussion of Article 140 of the Constitution to a later meeting.
The head of the committee, MP Faleh Al-Sari, stressed the importance of expediting the completion of discussions and receiving proposals for the articles on which there is discussion in order to accomplish its mission and submit its final report to the Presidency of the Council of Representatives in order to present it to the Iraqi people’s referendum. https://ninanews.com/Website/News/Details?key=868232
Iraq's gold possession represents 8.5% of the rest of its other currencies
Market Economy News _ Baghdad The World Gold Council announced, on Sunday, that Iraq's possession of gold represents 8.5% of the rest of its other currencies.
In November, the Council published a table of the world's most recent holdings of gold and was seen by Shafaq News Agency that "Iraq has 96.3 tons of gold, which represents 8.5% of the rest of its other hard currencies," indicating that "this percentage decreased compared to other currencies for the previous month, which was 8.8. % ".
She added, "The last purchase of gold for Iraq was in 2018, which amounted to 6,450 tons," noting that "Iraq still maintains the fifth place in the Arab world and the 38th globally among the 100 countries listed in the table."
The council pointed out that "the amount of gold holdings of countries amounted to 35.106 thousand tons. America is at the forefront of these countries in the world with the most precious metal, with an amount of 8,133 tons, followed by Germany with an amount of 3,362 tons, and Italy comes third with 2,451 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 causing market change, and its members consist of the largest and most advanced gold mining companies in the world. Number of observations 77 Date added 11/8/2020 https://economy-news.net/content.php?id=22578
Deputy reveals the latest proposals on the Federal Court law
Sunday, 8 November 2020 2:45 PM Post View: 98 Baghdad / National News Center -Member of the Parliamentary Legal Committee, Hassan Fadam, revealed, today, Sunday, the latest developments regarding the Federal Court Law, pointing out that the political forces had proposed ensuring a majority of the judges in the court.
Fadam said in a press statement, "The most prominent dispute between the political forces on the Federal Court revolves around the number of judges and ensuring that one component without another is not included in the court's decision."
He explained, "The political forces suggested that the number of judges be 7 compared to two jurists for each component, while some parties suggested that the divisions be three courts for each component, meaning nine for two jurists."
Fadam added, "The jurists will have to guarantee the right of veto in decisions on the Federal Court, provided that the decision is subject to the supervision and drafting of judges." https://nnciraq.com/44205/
Representative support for a strike by employees: a legitimate right to pressure the government
12:22 - 11/08/2020 The information / Baghdad ..Member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, confirmed, on Sunday, that the state employees' strike is a legitimate right because paying salaries is one of the government's first duties towards its employees, indicating that the strike will pressure the government to respond to the demands.
Jawdat said in a statement to "the information", that "the state employees to strike is a legitimate right guaranteed by the constitution and that failure to pay their salaries is an explicit administrative defect of the government," stressing that "its first duty is to pay salaries to employees."
She added, "The threat to strike will constitute for us as representatives a support factor and put pressure on the government to clarify the amounts of the loan that it asked Parliament to approve, because the amount requested by the government is very large and is not accompanied by transparent lists of exchange doors with transparency."
Thousands of employees in Baghdad and a number of provinces began a strike today, Sunday, due to the delay in paying employees' salaries for the second consecutive month. https://www.almaalomah.com/2020/11/08/504104/
The Association of Banks is a continuous march in support of economic reform
Articles Samir Al-Nasiri The Iraqi Private Banks Association is a civil society organization that was established in 2004 and organized in its membership most of the private banks, whose number as in 2020 (72) commercial and Islamic banks and branches of Arab and foreign banks operating in Iraq.
The Association, according to its bylaw, is strictly implemented in partnership and cooperation with the Central Bank of Iraq to strive to develop and develop the private banking sector in a way that contributes to supporting the national economy and sustainable development through the development of microfinance projects, qualifying youth and creating an appropriate and stimulating environment for entrepreneurship despite the complex conditions and economic crises that have passed In Iraq during the years since the establishment of these banks in 1991 and up to the present time,
the difficulties and challenges they faced, especially during the period of ISIS’s occupation of some provinces in 2014, but it was able to develop and catch up with the global banking development through the technical and banking developments planned by the Central Bank Al-Iraqi and supervised and adopted by the Association and implemented by banks with great interaction.
Emphasis on strict adherence to international standards in accounting, compliance regulations and rules, combating money laundering and terrorist financing and banking risk management.
The steps, procedures and activities of the Development Association in cooperation with the Central Bank have contributed to improving the performance efficiency of most banks and the issue of governance and good management was in accordance with the Governance Manual issued by the Central Bank and the fruitful cooperation with the competent international institutions led to the development of clear policies to control banks and companies supporting the banking business, which include maintenance Rights of boards of directors and shareholders, achieving transparency, disclosure and separation of ownership from the executive management.
As well as training and qualifying banking human resources, focusing on young people and recent graduates, and training up to 4,000 trainees in capacity development training courses in coordination with the Banking Studies Center at the Central Bank, based on the goal of investing in human capital in specialized courses in governance, compliance and international standards in all areas of banking.
And combating money laundering and terrorist financing, international accounting standards, Islamic banking and financial inclusion.
Despite the Corona crisis, the drop in oil prices, the closure of the global economy, the slowdown in economic growth in all countries of the world, and the Iraqi economy affected by the above repercussions, the Association continued to daily follow-up of banking activity and the commitment of private banks to the instructions of the Central Bank of Iraq through their contribution to economic activities that have a direct developmental impact on achieving sustainable development
And based on our keenness as a private banking sector that constitutes the first basic link in the economy, the association’s administrative body, its president and its executive management affirms the continuation of its strategy for the next five years to enhance the role of private banks in sustainable development and rehabilitate young people,
based on the objectives of reform and strategic development contained in the white paper and an attempt to address the identified risks In the recent World Bank report on the advancement of the Iraqi economy from a state of fragility. Number of observations 99 Date added 11/08/2020 https://economy-news.net/content.php?id=22576
Economists call for the dismissal of Finance Minister Ali Allawi
Reports Economy News – Baghdad A number of economists called for the dismissal of Finance Minister Ali Allawi, due to his inability to find solutions to confront the financial crisis that struck the country since the beginning of this year as a result of the outbreak of the Corona virus and the drop in oil prices.
The economist, Rafa Al-Baldawi, said on his Facebook page, "The Iraq crisis today is basically a public financial crisis, and the first solution is to dismiss the Minister of Finance, who clearly does not understand anything about public finance, does not know the priorities, and does not have any vision for a solution." . Suspect
He added, since his appointment until today, we only heard from him the problems that all specialists and interested people know, and the House of Representatives has done well by refusing to pass the new borrowing law in its current suspicious form .
Meanwhile, economist Aqeel Al-Ansari said, " He is the basis of the problem (Ali Allawi) because he was a finance minister in the transitional government," adding that "the white paper that he presented is a review of the problems."
He stressed that the government has so far not provided solutions to the problem, except for borrowing and even the numbers that were presented are unrealistic .
He indicated that the problem lies in the responsible person himself, and the solution is to resign, because the devastation he made is more than the devastation that was before his conversion.
Number of observations 76 Date added 11/08/2020 https://economy-news.net/content.php?id=22573
Dangerous implications of a planned move that will make Iraq pay $ 12 billion annually for 15 years
Money and business Economy News _ Baghdad Deputy Sami Al-Masoudi revealed, on Sunday, the dangerous effects of the borrowing law submitted by the government, while Iraq imported materials for 15 billion dollars without needing it.
-Masoudi said in a press statement, "The law of financing the fiscal deficit that the government raised to the House of Representatives, which amounts to 41 trillion dinars, represents a budget deficit of 20 20 for the last four months of the current year."
He added that "the government recently imported unnecessary materials with 15 billion dollars, and this is a wrong procedure," noting that "what exists in different materials is sufficient for Iraq for the next three years."
Al-Masoudi pointed out that "the government's continued demand for loans will exhaust the Iraqi economy and the budget because it will oblige the government to pay between 10 billion to 12 billion dollars annually for the next 15 years." Number of observations 828 date added 11/08/2020 https://economy-news.net/content.php?id=22589
General Electric completes four electrical stations in three governorates
Energy Economy News _ Baghdad The Director of Operations at General Electric Company for Power Grid Solutions in Iraq and the Gulf, Mohammed Bennoudi, announced, on Sunday, that the coming weeks will witness the introduction of four substations in three governorates.
Bennoudi said in a statement received by Al-Iqtisad News, that “these stations were distributed in two in the capital, Baghdad, and one in each of Basra and Karbala,” indicating that the company's teams continue to work and with the support of the Ministry of Electricity’s staff and the Iraqi companies supporting in light of the Corona pandemic The highest safety standards to maintain our employees and staff working on substation projects.
The Director of Operations at General Electric added, "These four stations will contribute to the distribution of electricity from the producing stations to the cities and will work to break bottlenecks and increase the stability of the network, which will positively affect the increase in the hours of supplying electrical energy."
Bennoudi indicated that "the teams are continuing to work on five other substations, two in Mosul and one in each of Karbala, Salah al-Din and Anbar, as they will be brought into operation during the next year to be ready to distribute energy during the hot summer months in Iraq." The number of observations is 190, date of addendum 11/8/2020 https://economy-news.net/content.php?id=22588
Economist: The government has funds to launch last month's salaries
Money and business Economy News – Baghdad The economist, Dr. Safwan Qusay, confirmed that the first borrowing law covers employee salaries until the end of this year.
Qusay said that the salaries of last October, the government is ready to pay, because the cash is at the Ministry of Finance.
He added that the current confusion caused the reduction of spending by citizens, which led to a decline in the contraction in the private sector, noting that monetary policy is working to avoid Iraq, the region of deflation, and to pump money through loans. Number of observations 134, date of addendum 11/8/2020
https://economy-news.net/content.php?id=22581
Stability of the dollar exchange rate in the local market
Market Economy News _ Baghdad The exchange rates of the dollar stabilized in the main stock market and local markets on Sunday (November 8, 2020),
and the Al-Kifah Stock Exchange recorded 124.950 dinars against 100 US dollars, while the dollar exchange rate for today, Saturday, recorded 124.900 dinars per 100 dollars.
As for the exchange rate in the local market, it was: -
Sale price: 125,500 dinars per 100 dollars. Purchase price: 124,500 dinars per $ 100.
The exchange rates in Basra Governorate were recorded at 125,000 dinars per 100 dollars.
While the exchange rates in Erbil governorate recorded 125,150 dinars per 100 dollars.
Number of observations 68 Date added 11/08/2020 https://economy-news.net/content.php?id=22584
The stock exchange closed 0.51% higher
Market Economy News – Baghdad The stock market closed today, up by 0.51% as a result of the government's interest in the stock exchange and the listing of a number of companies.
The Stock Exchange traded today, 493 million shares, worth 460 million dinars, and the main index scored 484.38 points.
Shares of the Bid Bank, Chemical, Plastic, and Mosul Tourist Dam companies gained.
Number of observations 120 Date added 11/8/2020 https://economy-news.net/content.php?id=22590
Barzani congratulates Biden: I look forward to working together to strengthen our partnership and bilateral relations
Political Sunday 8 November 2020 | 10:49 a.m.| Views: 193 The President of the Kurdistan Region, Nechirvan Barzani, congratulated the elected US President Joe Biden on winning the presidential elections, calling for working together to strengthen the partnership between the two sides.
Democrat Joe Biden won the US elections on Saturday, becoming the 46th president of the United States after snatching several crucial mandates from his Republican opponent, President Donald Trump.
Barzani said in a tweet on Twitter: "My heartfelt congratulations" to President-elect Joe Biden and Vice President Kamala Harris on winning the US presidential election.
Nechirvan Barzani added, "I look forward to working together to enhance our partnership and bilateral relations."
For the first time in its history, the United States has elected a woman to the presidency, Kamala Harris, 56, who will also be the first black woman to hold this position.
Trump has not recognized his defeat at the present time and does not know whether he intends to continue vetoing the results and claiming fraud, but whatever his position, the constitution stipulates the transfer of power on January 20, and before this date, states must confirm their results, provided that senior officials meet The 538 voters in December to formally appoint the president. https://aynaliraqnews.com/index.php?aa=news&id22=140583
The Foreign Minister congratulates Biden: We look forward to pushing the wheel of dialogues and intensifying joint work
Time: 11/08/2020 16:11:01 Read: 1,261 times (Baghdad: Al Furat News) Foreign Minister Fouad Hussein congratulated the elected President of the United States of America, Joe Biden.
Hussein said in a tweet on Twitter: "We are looking forward to strengthening bilateral relations and pushing forward dialogues and cooperation between the two countries at all levels."
"And the common challenges call us to intensify joint action," he added. LINK
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TNT:
Tishwash: An economist predicts the return of the 50 and 100 dinar denominations with the currency change.
Economic expert Mustafa Hantoush suggested on Sunday that the 50 and 100 dinar denominations would return to circulation if the currency change were to proceed, noting the possibility of issuing new currency denominations with stronger security features .
Hantoush said in a televised interview followed by Al-Sa’a Network that “the Central Bank may issue a new currency with advanced security features, with the possibility of introducing currency denominations less than 250 dinars, such as 100 fils .”
CLARITY ACT HITS A CRITICAL WALL: U.S. DIGITAL-FINANCE LEADERSHIP NOW FACES A REGULATORY GAP
Congressional deadlock is putting the future of comprehensive U.S. crypto market-structure legislation in doubt just as federal regulators and other financial centers move ahead with their own digital-asset frameworks.
OVERVIEW
The CLARITY Act remains stalled in the Senate, with a September 15 cloture vote now representing the next major test of whether the legislation can advance.
The delay is being driven by unresolved disagreements over ethics provisions, anti-money-laundering safeguards, stablecoin rewards, community-bank deposits, law-enforcement authority and SEC-CFTC jurisdiction.
Sunday Dinar Update: Things Are Moving FAST!
The Dinar Den: 9-6-2026
Iraq’s financial landscape is undergoing a pivotal transition as state institutions work toward comprehensive economic modernization. Market analysts, economists, and international observers have increasingly turned their focus to the Iraqi dinar (IQD) and the broader policy adjustments managed by the Central Bank of Iraq (CBI).
Understanding these developments requires evaluating a combination of legal frameworks, currency circulation metrics, banking sector overhauls, and significant political milestones.
Removing Zeros From The Dinar: Parliamentary Finance Committee Sets Conditions For Proceeding With This Matter.
Today 12:19 The Information/Baghdad... Member of the Parliamentary Finance Committee, Amer Rahim, confirmed on Saturday that voting on a bill to remove zeros from the local currency requires extensive discussions and the enforcement of a package of laws within the Parliament. He indicated that raising this issue at the present time is premature.
Good Morning Dinar Recaps,
CHINA'S $3.44 TRILLION RESERVE WALL RISES: YUAN STRENGTH SIGNALS A SHIFT IN GLOBAL CURRENCY BALANCES
China's enormous foreign-exchange reserve position is rising as the yuan strengthens and the dollar weakens, highlighting how exchange rates, reserve management and competing currencies are reshaping the global financial landscape.
2,500 Years of Monetary History Reveal the Same Pattern. Is It Happening Again? | Bob Klein
Miles Franklin Media: 9-6-2026
Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Bob Klein, Founder and Chief Investment Officer of Medici Capital.
Klein, who identified the dot-com and housing bubbles before they burst, explains why the U.S. stock market is once again in bubble territory and what could ultimately bring the boom to an end.
Al-Taif Bank Pledges To Return Depositors’ Funds
2026-09-06 Shafaq News- Baghdad Al-Taif Islamic Bank said it would soon return depositors’ funds after a committee appointed by the Central Bank of Iraq (CBI) formally took control of the bank’s management.
The bank said on Sunday the committee began its work and is preparing a plan to set procedures for customers and settle their financial claims.
Good Afternoon Dinar Recaps,
U.S. STRIKES THREE IRANIAN OIL TANKERS: WAR MOVES DEEPER INTO THE GLOBAL ENERGY-SUPPLY SYSTEM
The conflict is no longer only threatening oil supplies — military action is now directly targeting vessels carrying Iranian crude, raising the financial stakes for energy markets, shipping, currencies and global trade.
TNT:
Tishwash: Currency exchange offices closed at Baghdad airport; travelers warned of delays.
The Baghdad International Airport administration announced on Saturday that the Central Bank of Iraq has closed a number of exchange companies operating inside the airport, warning travelers of congestion and delays in currency exchange procedures .
The airport administration said in a statement seen by “Al-Sa’a” that “passengers whose travel requires them to complete currency exchange procedures must come to the airport early and well before the flight time.”
The Parliamentary Financial Committee: There Is An Intention To Issue Smaller Currency Denominations Than The 250 Dinar Denomination
Translated from Arabic The Parliamentary Financial Committee: There is an intention to issue smaller currency denominations than the 250 dinar denomination because the currency has not changed for a long time and counterfeiting has occurred in it..
https://x.com/AlArabiya_Iraq/status/2096531350366863805
Good Morning Dinar Recaps,
OPEC+ HOLDS THE LINE AS IRAN WAR DISRUPTS OIL FLOWS: SUPPLY SHOCK COULD KEEP INFLATION AND GLOBAL BORROWING COSTS ELEVATED
OPEC+ is expected to keep October oil production policy unchanged as the Iran conflict disrupts shipping through the Strait of Hormuz, leaving global markets exposed to a prolonged energy-driven inflation shock.
Bill Holter - The Great Economic Transformation Is In Progress, Gold Is About To Make Moves
X22 Report: 9-4-2026
Bill Holter is a Financial writer and gold expert,
The great economic transition is happening. The economy is about to change.
Bill believes that there will be a crash of the economy, but when you look at the action of Trump it seems that he is building a parallel economic system.
CBI: No US Dollar Rate Change
2026-09-05 Shafaq News- Baghdad The Central Bank of Iraq (CBI) on Saturday denied changing the official US dollar exchange rate, following social media claims that deposits would be priced at 1,460 dinars per dollar starting September 6.
Good Afternoon Dinar Recaps,
GLOBAL CAPITAL FLOWS SHIFT: NORWAY QUESTIONS TREASURY HOLDINGS AS CHINESE BANKS BUY U.S. DEBT
The world's major pools of capital are taking increasingly different positions in U.S. government debt, revealing a deeper change in how investors balance safety, yield, currency exposure and diversification.
TNT:
Tishwash: The Central Bank reassures depositors and confirms the protection of their funds.
The Central Bank of Iraq affirmed on Saturday that all depositors' funds in licensed banks are protected, while also stating that the Iraqi banking system possesses sufficient liquidity to efficiently manage its operations.
In a statement received by the Iraqi News Agency (INA), the bank clarified that "the Central Bank of Iraq's exercise of its powers to directly appoint supervisory or trusteeship committees to a licensed bank does not signify the bank's bankruptcy, as has been circulated on some social media platforms. Rather, these are precautionary and legal supervisory measures to ensure the bank's safety and the overall stability of its operations, and to protect depositors' rights in particular."