"Tidbits From TNT" Friday Morning 1-5-2024

EconomicsNews

Jan 5

TNT:

CandyKisses: The Central Bank announces expected decisions to support the Iraqi dinar

The Central Bank of Iraq revealed, on Friday, measures and decisions expected to support the dinar and maintain its strength against other currencies, and other measures that will positively affect the exchange rate, while noting that it has taken measures in the field of phasing out the electronic platform.

The assistant director general of the investment department at the Central Bank of Iraq, Mohammed Younis, told the official agency, that "the Central Bank will monitor and follow up all banks, and customer complaints that come back to it in case banks are forced to transfer customer accounts to US dollars," stressing that "this subject is easy to follow and monitor, and banks that do not comply with this decision will be held accountable."

Younis added, "This decision and the decisions that will follow in the coming days are all in the interest of supporting the Iraqi dinar and increasing confidence in it," noting that "what confirms the strength of the dinar and the public's confidence in it is the continuation of the Central Bank of Iraq and its failure to perform any need of various sectors, as it is now funding the sectors of commerce, electronic payment, travel and other sectors."

He pointed out that "the coming days will be more measures in the field of meeting all the needs of the market, supporting the Iraqi dinar and maintaining its strength against other currencies," noting that "the Central Bank, within its new procedures, prevented banks from automatic transfer of customer accounts in dollar to Iraqi dinars, without the consent of the customer, and allowed customers to open accounts in different currencies."

"What is new in updating the procedures is that it allowed companies that have contracts with the state to receive their incoming remittances, including the salaries of workers, as well as ongoing contracts on grants and loans in accordance with the Council of Ministers," Younis noted, "The other point is also in this new decision, is to allow banks to agree with their customers to bring their incoming remittances in cash to Iraq."

He stressed that "these measures will positively affect the exchange rate in the market, and will increase the supply of the dollar, and contribute to serving and supporting important sectors in the economy, including the sectors of exporters and the sector of companies operating in the government field and in the field of infrastructure development and strategic projects, in addition to supporting civil society organizations that contribute to the humanitarian and charitable field in Iraq."

Younis explained, "The main goal behind this update or these instructions is to expand the largest possible segment of obtaining the cash dollar by meeting its current needs of this dollar, as these instructions were expanded from the beneficiaries of the cash dollar, including civil society organizations, and these measures supported an important segment of the economy, the exporters sector, as it allowed them to obtain 40 percent of the remittances received as a result of their exports and receipt in cash."

He pointed out that "the decision clearly specified the mechanisms for its implementation by banks, and focused on the subject of incoming transfers, as it allows the receipt of some categories of their incoming remittances in cash," explaining that "this decision is related to the incoming remittances and not the cash sale of dollars for travelers, as the cash sale to travelers will continue as it is now, in addition to meeting the needs of customers and companies through this decision, and therefore will reflect positively on the exchange rate in the coming days."

Younis stressed that "there are no restrictions applied to banks in the field of money transfer, because there are procedures in the field of phasing out the Central Bank of Iraq platform by supporting interests to open accounts in foreign banks abroad, and the role of the Central Bank is short to enhance these balances and to follow up on transfers."

He concluded, "There are no restrictions on the transfer of funds in various currencies within the foreign currency banking system, but this decision is related to the cash dollar (cash withdrawal)."

https://www.nrttv.com/ar/detail3/21249

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CandyKisses: Political gathering: The recent escalation in Iraq must accelerate the exit of the Americans

Baghdad Today - Nineveh

Today, Friday (January 5, 2024), Abbas Fadel, a leader in the networked gathering, called for an emergency parliamentary session of the Iraqi parliament.

Fadel told Baghdad Today that "the escalation represented by the bombing of a headquarters of the Popular Mobilization Forces in Baghdad must be an incentive to expel US forces and implement the decision issued by parliament in 2020."

He added that "what happened yesterday is no less serious than the airport incident, as the target party is an official body that orders the authority and the Iraqi state, so holding an emergency session of parliament to expedite a vote on the rapid exit of US forces, and the implementation of this decision by the government directly."

The American side claimed responsibility for the bombing of the headquarters of the Popular Mobilization Forces in Baghdad, which killed a number of leaders, including the jihadist assistant of Harakat al-Nujaba, Abu Taqwa al-Saidi.

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TishwashL Urgent Al-Sudani: The justifications for the existence of the international coalition have ended and a bilateral committee has been established to schedule its withdrawal from Iraq

The Commander-in-Chief of the Armed Forces, Prime Minister Muhammad Shiaa al-Sudani, announced the formation of a bilateral committee to schedule the withdrawal of international coalition forces from Iraq.

On Friday morning, Al-Sudani attended the memorial ceremony held by the Popular Mobilization Forces on the fourth anniversary of the martyrdom of Al-Nasr leaders and their comrades in 2020.

Al-Sudani pointed out, in his speech, that the attack that led to the martyrdom of the deputy head of the Popular Mobilization Forces, the martyr Jamal Jaafar Al-Ibrahim (Abu Mahdi Al-Muhandis), and the guest of Iraq, General Hajj Qassem Soleimani, represented a blow to all the customs, charters and laws that govern the relationship between Iraq and the United States. It was a heinous and unjustified crime.

He stated that the government is in the process of setting the date for the start of the work of the bilateral committee to make arrangements to permanently end the presence of the international coalition forces in Iraq, and that there will be no neglect of everything that would complete national sovereignty over the land and skies of Iraq.

He pointed out that "four years ago, at the dawn of January 3, 2020, the American administration committed a heinous act by killing an Iraqi military commander, the deputy head of the Popular Mobilization Forces, Jamal Jaafar Al-Ibrahim, and Abu Mahdi Al-Muhandis," noting that "the assassination of Iraq's guest, General “Qassem Soleimani represented a double blow to Iraq, its traditions and customs, and an attack on two countries.”

He pointed out that "Iraq has a strategic partnership agreement and diplomatic relations with America, and in this way the main principles of international relations and what was stipulated in the United Nations Charter regarding equality of sovereignty between states and the prohibition of the use of force in international relations were violated," noting that "Iraq lost a man whose main concern was "In his years, Iraq will be free and independent."

He stated, "The martyr Abu Mahdi Al-Muhandis recalled his legacy of struggle and jihad, and advanced the ranks to defend Iraq from the evils of ISIS terrorists, and rose up under the shadow of the religious authority's fatwa to lead the people of the mobilization in those difficult days."

Al-Sudani continued, "Our government has developed projects, plans, and goals to raise living standards and reduce poverty rates. We have stressed that this year will be a year of achievements. Efforts to fight corruption will continue, with all the powers and legislation the government possesses. We have completed the provincial council elections, which have been stalled for years, to enhance political stability." .

He said, "Our region has been living in a tense situation since October 7 of last year, due to the aggressive and criminal policies practiced by the occupation authorities against the Palestinians in Gaza and the occupied territories. We warned that the continuation of brutal practices in Gaza will have serious repercussions on the region and the world, and we are beginning to feel its effects today." In many countries of the region.

The Prime Minister promised, "The most serious incidents are those that have been repeated more than once in Iraq, with the international coalition forces carrying out attacks against the headquarters of the Popular Mobilization Forces," stressing that "the Popular Mobilization Forces represent an official presence affiliated with the state, subject to it, and an integral part of our armed forces."

He explained, "We have repeatedly emphasized that in the event of a violation or transgression by any Iraqi party, or if Iraqi law is violated, the Iraqi government is the only party that has the right to follow up on the merits of these violations," indicating that "the government is the authority authorized to enforce the law, Everyone must work through it, and no one can infringe on Iraq’s sovereignty.”

Al-Sudani condemned "the attacks that target our security forces, and go beyond the spirit and letter of the mandate that created the international coalition," stressing "the government's ability and willingness to take appropriate decisions to preserve Iraq's sovereignty, security, and stability, as it lies at the core of its responsibilities, obligations, and constitutional duties."

He also affirmed “the firm and principled position in ending the existence of the international coalition after the justifications for its existence have ended,” revealing that “we are in the process of setting the date for the start of the dialogue through the bilateral committee that was formed to determine the arrangements for the end of this presence, and it is a commitment that the government will not back down from, and will not neglect anything that would lead to it.” Completing national sovereignty over the land, sky and waters of Iraq.”

He concluded his speech by saying, "The foundation of loyalty and gratitude for the blood of the martyrs and their sacrifices requires all of us to respect the state and its constitutional institutions." link

Mot: .. and then I Remembered!!! ~~~~