More News, Rumors and Opinions Saturday Afternoon 3-19-2022
TNT:
Candy Kisses: PARLIAMENTARY MOVE TO RESTORE THE EXCHANGE RATE
Ahmed al-Rubaie, a member of the national approach alliance, said Thursday that there is a serious parliamentary direction to restore the exchange rate.
"Many members of the house of representatives and blocs are still pushing for the exchange rate to be restored, because it has caused damage to many poor and middle classes, especially the staff, whose salaries have been deducted indirectly by raising the exchange rate," Al-Rubaie told the national news center.
"There are a lot of serious trends for quite a few members of the house of representatives to restore the exchange rate," he added.
Tishwash: The most important of which is the budget.. Three laws are on top of the Legislative Council’s priorities
A member of the House of Representatives from the Sovereignty Bloc, MP Ahmed Mazhar Al-Janabi, confirmed today, Saturday, that Parliament seeks to pass three important laws.
Al-Janabi said, according to the official media, that "there are a number of laws that the House of Representatives seeks to approve, the most important of which are the budget law, the provincial councils, and the amendment of some paragraphs in the general amnesty law and its presentation to the House of Representatives."
He pointed out that "the general amnesty law does not mean amnesty for terrorists, but there are oppressed people in prisons whose grievances must be looked at," noting that "the provincial councils' law was not voted on in the previous session."
Al-Janabi added that "the provincial council law will be presented again to make the amendments, and they are included in the constitution," explaining that "since 2013, no elections have been held for the provincial council, and there is a need to activate the law to complete the constitutional entitlement.
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Courtesy of Dinar Guru
MilitiaMan ... as Chapter 7 has been lifted. Reverting back to program rate of 1190 would...likely not ever allow them into the international arena...The amounts of monies to be collected at the ports and borders will be staggering imo and will support far more than 1190 or even 1200...They told us the worth of the Dinar in 2017 was...$1.17 based off only oil. Add in the rest and inflation one should easily see that the REER (Real Effective Exchange Rate) will be a far cry over 1190...It will likely support an era of the Glory Days... of roughly $3.22...
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KTFA:
Samson: The Iraqi market suspends its activity for two days
19th March, 2022
The Iraq Stock Exchange announced today, Saturday, the suspension of its activity for two days.
The market said in a statement received by Shafaq News Agency, "Based on the decision of the Council of Ministers to declare an official holiday for two days on the occasion of Nowruz holidays, trading sessions will not be organized on Sunday and Monday."
He added, "The activity will be practiced after the official holiday, starting next Tuesday, according to its official timings."
It is noteworthy that the Iraq Stock Exchange organizes five trading sessions per week from Sunday to Thursday, and includes 105 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. LINK
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Samson: Iraq .... The Land of Global Investments
19th March, 2022
After years of challenges faced by Iraq during its war against terrorism, which made the country's land a repulsive environment for investment, today, after achieving victories on the ground and defeating terrorism, it has proven its success and ability to absorb global investments, especially after its participation in the Expo 2020 Dubai, which served as a a gateway to attract investors from all over the world.
Iraq's land full of treasures in various sectors represents today a great opportunity for investors, especially since recent statistics indicated that the profit rate of investment projects in the country exceeded 50%.
Iraq's ambassador to the UAE, Muzaffar Mustafa al-Jubouri, confirmed in an interview with the "National News Center", that "the participation of the Iraqi pavilion in the Expo 2020 has great implications for Iraq's success in sending a message to the world that it is the land of global investments and is able to absorb it, especially since the Expo 2020 is an international exhibition, not an Emirati one, in which the most important products of the world and nations are displayed. He added that "the Expo was able to devote the idea of Iraq's success and its ability to absorb all investments, and the extent of its readiness for them."
And he indicated that "the Iraqi pavilion in the exhibition was designed in the form of a fishing net in a way that suggests that Iraq is promising in opportunities, and it is an invitation for all investors to seize this opportunity and enter the Iraqi market, and the design of the pavilion indicates the extent of Iraq's interest in investments, especially since it is a large country with many wealths, whether mineral, agricultural, human, or related to the geographical location.
He added that “Iraq has many sectors that the investor can resort to, especially the sectors of energy, transportation, technology, logistical support and other important projects,” noting that “the profit rate for projects that invested in Iraq amounted to more than 50%, and this is a very large percentage.” It is an important opportunity for investors.”
And he added, "Iraq has many memoranda of understanding and agreements with the Emirates, especially during the past year, when more than one agreement of understanding was concluded between the two countries, the most important of which is the agreement between the Ministry of Transport and Abu Dhabi Ports, and the agreement between the Masdar Company and the Iraqi government to establish five projects in Iraq."
In addition to the agreement held by the Dubai government to benefit from its expertise in the field of planning, because the latter is known for the effectiveness of its projects and its investment of time, in addition to the agreement concluded between the Central Bank of Iraq and the Central Bank of the Emirates.
He stressed that "what binds Iraq and the UAE is not only agreements, but there are historical roots and fraternal relations, and both countries seek to strengthen these relations and understandings." LINK
Iraqi Dinar update for 03/18/22 - A LOT is happening
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