KTFA Members "News and Views" Tuesday 5-11-2021

KTFA:

Iobey777:  IMO, it was a fantastic CC a tonight and I am surprised that this forum and TC a is not lit up with comments!!

FRANK gave so much information tonight that should have us all anticipating an ANNOUNCEMENT of Article 8 and the Depegging of the Dinar from the USD!

I believe that both are coming very quickly and those who are sleeping and not studying with Frank will be left in the dark and may not SEE it when it happens!

Watch for the big ANNOUNCEMENT of Article 8 and/or the depeg of the Dinar from the USD! And SMILE!

Monday Night KTFA CC: 

5-10-21.....DO YOU UNDERSTAND  https://www.youtube.com/watch?v=uocMsw-CrLg

DeepWoodz:  IMO List of 14

1. Switch from Swift to QFS

2. Watch for Contracts to start

3. Watch for Tourism

4. Stamp out Corruption

5. National Oil Company and a partner

6. Imminent domain

7. Iraqi and Erbil Stock Exchange

8. Article 8 announcement

9. Forex participation

10. Campaign of Information

11. Waiting for Implementation

12. Free flow of IQD / Liberalization

13. Within a month banks R accomplishing ?

14. ISO 20022

Jerry1971:  PRETTY MUCH WELL SUMMED UP BRO JUST HOPEFULLY THEY WILL BE APPROACHING THEIR DATE AS TO WHEN TO DISCLOSE THE NEW EXCHANGE RATE AS PER THE ABOVE MENTIONED MECHANISMS ALREADY SET IN MOTION IMO.   

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Samson:  The Sunni Endowment announces the first day of the blessed Eid al-Fitr

11th May, 2021

Announced the Sunni endowment in Iraq, the first day of the blessed Eid al-Fitr.

A source in the endowment said in an interview with Mawazine News that "the crescent of the month of Shawwal could not be seen."

He added, "Therefore, tomorrow Wednesday will complete the month of Ramadan, and Thursday will be the first day of the blessed Eid Al-Fitr."  LINK

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Samson: For the sixth time, a convoy of the international coalition forces was targeted north of Fallujah

18:45 - 11/05/2021

A security source said, on Tuesday, that a convoy of the International Coalition Forces was targeted north of Fallujah, Anbar Governorate.

"An explosive device was placed next to one of the main roads on the international highway near Saqlawiyah district, north of Fallujah," the source said.

He added, "The security forces, backed by the explosives handling team, sealed off the scene."

It is noteworthy that this targeting is the sixth of its kind for international coalition forces convoys in Anbar.  LINK

Samson:  Integrity reveals embezzlement of more than one billion dinars in Nineveh agriculture

13:56 - 05/11/2021

The Federal Integrity Commission was able, on Tuesday, to control the priorities for an employee of the General Company for Agricultural Supplies in Nineveh to commit the crime of embezzling large quantities of dab fertilizer.

The authority said in a statement that the information received, a copy of it, that “the work team of the Authority’s Investigation Directorate in Nineveh Governorate, which moved to the General Company for Agricultural Supplies in the governorate, was able to set the priorities for an employee who works as a storekeeper Koggli by embezzling an amount of approximately (1460) thousand Tons of dab fertilizer, noting the cooperation of the Ministry of Agriculture / General Company for Agricultural Supplies/Legal Affairs Department/Cases Division in the process.

The statement added, "Preliminary investigations have led to the fact that the price per ton in the local market is approximately 750,000 thousand dinars, while the total amount of embezzled quantities is approximately 1 billion 20 000 000 dinars."

And he continued, "A fundamentalist seizure report was organized in the process, and accompanied by the seizures, it was presented to the judge of the Nineveh Investigation Court, which is specialized in issues of integrity, who issued the arrest warrant against the accused in accordance with the provisions of Article (315) of the Penal Code."    LINK

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Samson:  An Israeli vision of what will happen in the Middle East after the American withdrawal

11th May, 2021

The Israeli newspaper "Jerusalem Post" raised ten possibilities beyond the stage of the American military exit from the Middle East region, wondering whether any gains made by previous American administrations in the region, including the "Abraham Accords" peace, will be preserved in a sustainable way. In the absence of the American "security umbrella".

The newspaper mentioned in a report translated by Shafaq News Agency, that the American exit from the region was according to the promises of former President Barack Obama, then his successor, former President Donald Trump, and the withdrawal from Afghanistan has become a date next September, as for Iraq and Syria, the American presence also under resuscitation with artificial respiration, adding that the long-expected departure will end the fragile situation that exists for all players in the region.

Despite the optimistic view expressed by Christine Fontenrose in the American "Atlantic Council Institute" by raising the possibility of the birth of understandings between the quarrels, Sunnis and Shiites, which would be tantamount to "Ismail agreements" (the son of the Prophet Ibrahim according to the religious narrative) and represent a breakthrough between them, but the Israeli newspaper considered that the United States pushed its ally. Saudi Arabia is in the arms of the most dangerous regional player, namely Iran, that will serve the interests of the Russians, Chinese and Iranians.

In all, the Israeli newspaper raised ten possibilities that American politicians, soldiers and intelligence personnel will have to deal with in the coming years.

First, Islamic terrorists will find safe havens, new and old, for plotting chaos against the United States and Israel.

Second, Iran will enhance its military activities in two sensitive areas, namely the Strait of Hormuz and Bab al-Mandab, which pose a threat to global shipping lines.

Third, as the United States retreats, its allies around the world will realize that American military commitments have an expiry date.

Fourth, Iran, Russia and China will switch to exercising the role of major powers in the Middle East.

Fifth, Israel will be more isolated if Saudi Arabia and the Gulf states move toward Iran. Nevertheless, Israel will still hope that these countries will continue normalization (the Abraham Accords), and will view them as a better option as allies.

Sixth, Iran will feel more willing to take the risk, knowing that the United States will not want to challenge the Islamic regime, lest it withdraw from the nuclear agreement.

Seventh, Iran will turn its attention to Jordan as the next chessstone that will fall under Iranian influence, after Iraq and Lebanon.

Eighth, the Taliban will re-take over Afghanistan, which will dispel any gains made regarding the rights of women and minorities.

Ninth, the potential for regional conflicts will increase.

Tenth, the spread of nuclear armament will soon take place in the Sunni world, which will not be in anyone's interest.

The newspaper concluded with the following questions: Is one of these possibilities in the interest of US national security? Will America be forced to return to the region, as it did after the hasty American withdrawal from Iraq in 2011, but under less favorable conditions?

The newspaper quoted former Israeli ambassador Michael Oren to the Wall Street Journal in 2019 as saying, "If you think that the United States, as an international superpower, can withdraw from the Middle East without risking itself, you are deceiving yourself."   LINK

Monday Night KTFA CC With Frank26 "Do You Understand?" 5-10-2021

KTFA:

Monday Night KTFA CC with Frank26

5-10-21.....DO YOU UNDERSTAND

This video is in Franks and Teams opinion

Frank’s team is Walkingstick, MilitiaMan, Petra, and Eddie in Iraq.

Playback Number: 605-313-5163  PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=uocMsw-CrLg

KTFA Members "Sunday News" 5-9-2021

KTFA:

Samson:   The American Lockheed Martin will leave Iraq due to the militia attacks

9th May, 2021

Sources revealed that the American company "Lockheed Martin", which supervises the maintenance of the F-16 aircraft at the Iraqi "Balad" base, will leave Iraq due to the attacks of armed militias targeting the base, according to the Al-Arabiya news channel.

Sources told the Al-Arabiya news channel that there are 85 engineers, technicians and workers who will leave Iraq.

The base "Ain al-Assad", which includes American forces in Anbar, in western Iraq, was attacked by drones at dawn yesterday, Saturday, which resulted in damage to an aircraft hangar.

Washington accuses Iran of giving the green light to its proxies in the region to launch attacks on US forces and contractors in Iraq.   LINK

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Samson:  The World Bank: The white paper is needed by any country that is going through the circumstances of Iraq now

05/09/2021 19:02:51

 The regional representative of the World Bank in Baghdad, Ramzi Numan, said that the "white" reforms proposed by the Iraqi government are needed by any country going through similar conditions to the country now.

  A statement of the Ministry of Labor and Social Affairs, a copy of which was received by Al Furat News Agency, stated that “The Undersecretary of the Ministry of Labor and Social Affairs Abeer Mahdi Chalabi held an expanded meeting with Numan and his accompanying delegation today, Sunday, to discuss ways of joint cooperation in the field of supporting the government reform program.”

The meeting was attended by members of the ministerial team formed to implement the Cabinet’s directives to start implementing the projects that fall under the responsibility of the Ministry of Labor within the government reforms program for the year 2021. 

Chalabi stressed “the importance of starting practical steps to implement real reforms away from the theoretical side, by giving time limits for procedures and mechanisms. "Their implementation, and ensuring that the ministerial team submits monthly reports to the Supreme Committee for Reform, which includes all its activities in this field, as well as proposals that support reform steps and the most important obstacles and difficulties that can prevent this."

Chalabi also called for "cooperation with civil society organizations and benefiting from their experiences, as well as the correct investment of international grants to support many segments of society, including the displaced, poor families and youth seeking work by relying on decent work according to what the labor market requires in terms of finding suitable job opportunities without accreditation." Completely over the public sector." She indicated, "The importance of the reform plan to include returning vocational training centers from the governorates to the ministry, directed to establish a table that includes the number of centers, their needs and the requirements required to enhance their activities."

For his part, the representative of the World Bank affirmed "the complete readiness to provide full support for all the reform steps of the ministry," noting that "the reform paper includes proposals similar to the proposals of the International Monetary Fund, but it is recent in terms of compilation and formulation," indicating that "any country is going through the circumstances it has gone through." Iraq at the present time needs such reforms, adding that the reforms paper will be feasible in the event that all parties concerned come together to implement them.   LINK

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Samson:  A parliamentary committee warns of borrowing: Iraq has an abundance  of funds

9th May, 2021

The Parliamentary Finance Committee warned that borrowing other than important sectors such as electricity and health will shackle the country in the future, indicating that the high oil prices have brought Iraq a financial abundance that it can exploit without going to borrow from banks and international institutions with sovereign guarantees.

Committee member Muhammad al-Shabaki said, "After the rise in oil prices, Iraq will no longer need external loans because they will cripple the national economy," noting that "electricity loans amounted to 8 trillion dinars in the 2021 budget."

He added, "The loans that relate to the Ministry of Electricity are not permanent loans but are related to production, distribution and transportation, and therefore the Al-Fateh Alliance had a problem with those loans after the meeting of the heads of the blocs, and identified them with two points, the first of which is the extent to which Iraq needs these loans and that they must be checked by the ministry or sectoral entity." Ministry of Finance".

He pointed out that "the second point included a question about these loans, and whether they are for sober and global companies, and it turned out that they are given to sober companies such as (General Electric) and (Siemens)," noting that "with the rise in the price of oil, Iraq has achieved financial abundance that can be exploited without going to borrow from banks and international institutions with sovereign guarantees."

He stressed that "the loans should be used in important sectors such as education, health, and the development of the oil sector, in addition to the fact that the 2021 budget included 16 loans related to the electricity and health sectors." "The total loans that Iraq needs in the electricity sector are 8 trillion dinars, after it was 12 trillion before it was amended in the budget, and other loans that do not flow into these sectors will shackle Iraq in the future," Al-Shabaki explained.   LINK

Don961:  Iraq has been stable in its rank for 3 years and the World Council is trying to "convince" it .. What does it mean to own 96 tons of gold and its solutions ranked 38th in the world?

2021-05-09  Yes Iraq: Baghdad

 Iraq is still ranked 38 out of 100 countries in global gold reserves, with an amount of 96.3 tons, which is the place it settled for more than 3 years, as Iraq did not buy gold for a long time.

Although Iraq before 2018 had 89.8 tons of gold, it was in the 37th rank, which is far ahead of its current rank, but this is due to the variables of other countries that have raised their gold reserves further, making Iraq fall to the 38th rank, Although gold reserves rose by more than 7 tons.

The World Gold Council announced, in its latest schedule for the month of May 2021, that “Iraq ranked 38th in the world out of 100 countries listed in the table with the largest gold reserves in the world, and ranked fifth in the Arab world after Saudi Arabia, Lebanon, Algeria and Libya.”

He added that "Iraq's possession of gold amounted to 96.3 tons, which represents 8.1% of the rest of its other reserves."

He added, "The United States of America still ranks first in the largest gold reserves in the world, at 8,133 thousand tons, followed by Germany, at 3,362 thousand tons, while Suriname comes to the top with 1.5 tons, followed by Yemen with 1.6 tons."

World Gold Council "trying to convince Iraq"

In late April, the World Gold Council announced its support for increasing Iraq's share of gold.

A statement by the Central Bank of Iraq stated that “the Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. He held a meeting with the World Gold Council (upon their request). The meeting dealt with a number of issues, the most prominent of which were technical support and training files.

The statement added, "The meeting discussed the increase in the foreign reserves of the Central Bank, which was achieved after the implementation of recent reforms in the work of this bank and the banking sector," adding: "The World Gold Council has provided full support to the Central Bank in case it wishes to increase the gold quota for Iraq."

What does the state owning gold mean?

Gold reserves represent the gold that is kept by the central bank or nation as a store of value and a guarantee to redeem promises to pay depositors, holders of securities or their trading peers, or to secure currency, while gold reserves today are rarely used in the settlement of international transactions.

In the past, the purpose of the national gold reserves of each country was to cover paper currency by equating it with a basic measure of gold, which is a valuable element due to its lightness, luster and cleanliness, as it does not rust and is difficult to dissolve in acids.

And after historical events in which wars were a major factor, gold became a national stock as insurance for times of crisis and to prevent jumps and falls of the US dollar. Also, a large gold reserve in a country represented a pillar of independence at the international level, as gold can be used at all times and crises as a currency for circulation - that is, to buy and sell, especially at the international level, such as buying wheat, for example, from the global market to import the people's food.

 But after increasing the debts of the governments of many countries, such as the United States of America, Germany, France and other great countries, the central banks worked to reduce their gold balances to cover government debts. The part of the global gold reserves on which paper currencies are based has decreased during the past three decades through selling, and the dependence of paper currencies on it decreased from 60% in 1980 to 10% in 2006 - this is at a time when the US dollar dominated the international market. 

The United States insisted that the US dollar be the only currency to export and buy oil, in exchange for other currencies, which supported the value of the US dollar - hence the term petrodollar. In recent times gold has become very important as its price has increased. The American agreement with the OPEC oil-exporting countries was just before the 1973 war, when America knew that the price of oil would rise significantly after the Arab boycott.   LINK

MilitiaMan and KTFA Members "All Boats Rise With the Tide" 5-8-2021

KTFA:

Don961:  Ports call for accelerating electronic transformation

Thursday 06th May 2021  Baghdad: Morning

 The General Company for Iraqi Ports discussed with the Border Ports and Customs Authority the issue of accelerating the electronic transformation and waiting to work according to the single declaration, and the approval of the Maritime Minvest as an identification document for the incoming goods.

The Director General of Ports, Farhan Muheisen Al-Fartousi, said that a meeting was held at the Border Ports Authority under which a committee from the Ministry of Transport and representatives from customs, standardization and quality control were formed to discuss the most important issues related to work in Ports.

Al-Fartousi explained that the meeting resulted in recommendations submitted to the General Secretariat of the Council of Ministers, with a call to wait for the implementation of the decision requiring the work of the individual customs declaration for each container until an indefinite notice, and the issuance of another number of recommendations, the most important of which is the implementation of Resolution 90 For the year 2021, and to accelerate the electronic transformation with the adoption of the electronic marine minvest as an identification document for all goods. LINK  

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MilitiaMan:  This has been a work in progress for years. They have not just started this. They have been hard at this for many years. Now it is effectively go time.

They are using words like accelerate and for an indefinite time. In other words they are in a hurry, as there will be identification documents on going for an indefinite time frame, as good and services will be on going and will require them.

They are to have "CODES" or identification documents for all goods coming into the country!! Resolution 90 apparently has implications to imports and exports. Resolutions from what I read are from the Security Council from 1990.. Some of which are in regard to Kuwait.

 Regardless we just witnessed the BUNA meeting with 200 Banking entities from banks and Central Banks of the world. Well they were all together at one time. Not an easy task. It would take the likes of the largest most powerful entity to get that sort of attention to the BUNA platform.

We know the IMF, UN, World Bank, Bank of international Settlements, etc have a pulse in the on goings in the monetary reforms and digital transformation that Iraq is presenting to the world now. It is very clear they are gearing to interlink globally via land, sea and air.

All borders, ports and airports will have codes for all goods. A requirement for Article 8 and or WTO ascension. imo ~ They are obviously educating everyone in the matter.

The most important at this level are the those 200 banks, as they clear money globally... They all have a need to know and at the same time. They got the message.

 If I can see it this clear, they did too. imo!! This is very very very exciting times imo!!! ~ MM

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The Minister of Planning reassures the employees ... and announces: The benefit of raising the dollar is more than its harm   LINK

MilitiaMan:  So the harm of the devaluation was for a purpose and that purpose will out weigh the harm. Well once they RI it will definitely create an environment that will lift all boats in the region. Once they have an internationally accepted currency, that value it brings will be introduced to all who hold it. "All boats rise with the tide.." ~ Petra ~ MM

Don961:  Minister of Finance: We are heading towards establishing an integrated digital bank

Saturday May 08, 2021   Baghdad: Hussein Thahab

The Iraqi Digital Transformation Summit focused on moving towards electronic transactions and automation and the role of governance in the sustainable development sought by the country, as the summit and local and international institutions participating in it focused on the imperative of cooperation between the central government and the banking sector, in order to move towards a new, more sophisticated phase in dealing.

And the delivery of benefit to all segments of society. The conference, organized by Frontier Exchange, with wide global and local participation, shed light on the available opportunities and challenges, in order to advance the reality of digitization and electronic transactions in Iraq. 

Minister of Finance Ali Allawi stated that «the transition of Iraq to the digital age is one of the most important priorities of the government», pointing out that «the transfer of the national economy to the digital age requires skills and a great effort on the part of the government and the private sector, in order to achieve this qualitative leap, which is built on the basis of strengthening Digital infrastructure, and this requires investments in the telecommunications sector and digital work, to lift the Iraqi economy from focusing on narrow sectors to a wider stage. 

Allawi revealed, "The Ministry of Finance directed to convert a small government bank into a fully digital bank, in addition to adopting important projects in government banks to start diversifying digital capabilities. 

As for a member of the British House of Lords, Baroness Emma Nicholson, she described this summit as a mission at a time when the world is heading to expand in the field of digital economy, which is an important transition in the management of global economies, stressing "the need to benefit from this experience."

Product development

For his part, Central Bank Governor Mustafa Ghaleb said: “The development of modern financial channels and means of communication via the Internet contributed to the development of the products provided by the financial and banking sector and their ease of access to individual and institutional beneficiaries.” 

Ghalib pointed out that “owning a digital financial system is a fundamental pillar in building an advanced financial sector that supports sustainable development trends,” noting that “Iraq has the necessary infrastructure to develop digital services by launching initiatives that encourage the banking system to deploy ATM machines and use applications. Digital, as well as implementing projects that contribute to the application of electronic governance. 

He pointed out, "Signing a memorandum of understanding with Master Card to implement the project to digitize education in Iraq, and that it is in the stage of orientation towards developing these services in cooperation with international organizations."

Chairman of the Board of Directors of the Development Bank, Dr. Ziad Khalaf said: “Humanity is now living in the fourth industrial revolution, which is the digital revolution, which is an objective maturity and an extension of the third industrial revolution, which is the information revolution that we have witnessed at the end of the last century. 

He continued, "Iraq adopted the" Dom 2025 "vision in 2018, and developed a strategy related to it to build the information and communication technology sector, which includes a number of basic goals and objectives consistent with the goals of the World Summit on the Information Society. 

He added that «the Central Bank launched the« digital enrollment service », which is the first of its kind in Iraq, which is an integrated digital financial system that enhances financial independence and freedom from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to bypass bureaucracy. In financial dealings within banks operating in Iraq ».

In turn, the representative of the company organizing the conference, Ahmad Al-Jader, explained that “Iraq's need for such international conferences is a necessity in light of the widespread demand to adopt advanced technologies that contribute to shortening time and effort in order to reach the stages of sustainable development,” indicating that “the shift towards transactions Digital and governance are greatly undermining corruption. ”   link

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Bambi:  I am believing the 10 day curfew right as Ramadan ends will be most significant! IMO

Samson:  The Iraq Stock Exchange will close its doors in the middle of next week

8th May, 2021

The Iraq Stock Exchange announced that it will close its trading next Monday as a result of the ban and Eid al-Fitr

The market said in a statement received by "Al-Eqtisad News", that "based on the Cabinet's decision and the decisions of the Supreme Health and Safety Committee due to the existence of a curfew from May 12 to May 22, it will be the last trading session in securities before Eid Al-Fitr and from next Monday in order to end From settlements and clearing between brokerage firms and investors

He added that "the first trading session in the securities will be after Eid Al-Fitr and the curfew, and as of Sunday, May 23

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions per week from Sunday to Thursday, and 103 Iraqi joint stock companies are listed in it, representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism and hotels  LINK

Don961:  The latest information about the fugitive Chinese missile and the areas that are likely to be hit on it ... will be dropped within 24 hours

2021-05-0 Yes Iraq: Follow up

 The European Space Objects Monitoring System has just updated its forecast about the re-entry of the Chinese "Long March 5B" missile core into the Earth's atmosphere, and the Mediterranean and surrounding countries may be in the range of the missile's fall. 

 As the object approaches Earth, the range of expectations narrows and it is now almost certain that the device will reach Earth on Saturday night, but in European forecasts there is still an uncertainty period of about 6 hours.

 The European Space Monitoring and Tracking Program (EU SST) indicates a return at 3:11 a.m. on Sunday (Portuguese time), with a 190-minute window plus and a decrease, indicating a possible re-entry into airspace somewhere between midnight and 6 o'clock. A.m.

 With this uncertainty, which has already exceeded 24 hours, it is still not possible to predict where the debris will fall that will resist entry, but some points have already been excluded.

 The hypothesis that re-entry could occur over the Mediterranean and southern Europe, where southern Portugal, Spain and Greece are still within range, according to the agency's latest map.

 The Chinese "Long March 5" missile was sent into space, but it got out of control and could no longer be controlled, nor of course knowing where it landed.

 Satellites follow the flight of the out-of-control missile around the world. In the following, a direct monitoring of the missile's path, according to the Sky Robot page.

The latest forecasts indicate that the missile will penetrate the Earth's atmosphere on Saturday evening or Sunday morning, and will enter the Earth's atmosphere over an area near New Zealand.   LINK

MilitiaMan Friday Night "International Rate When All Is Ready, Set and Go" 5-7-2021

KTFA:

Samson:  THE ARAB MONETARY FUND (AMF) HOLDS A VIRTUAL WORKSHOP TO DISCUSS BUNA’S COMPLIANCE STANDARDS AND INFORMATION SECURITY CERTIFICATION

6th May, 2021

The workshop is hosting guest speakers from international specialized entities

More than 200 senior officials will attend, representing central banks and a wide spectrum of financial institutions from the region and beyond

 Abu Dhabi, 06 May 2021: The Arab Monetary Fund (AMF) holds today, Thursday May 6, 2021, a workshop to elaborate on the compliance and information security standards that Buna (the cross-border payment system owned by the AMF) had put in place to adhere to the highest international requirements against terrorism and financial crime and protect the data of its participants.

During this workshop, Industry Experts representing Elucidate, Refinitiv, and DXC Technology and Buna executive team will share valuable insights on key topics related to compliance and information security.

The workshop will host more than 200 senior officials representing Arab and international central banks, along with various institutions from the financial, banking and payment sectors in the region and beyond, seeking for valuable information about Buna’s recent developments.

At this occasion, Mehdi Manaa, Chief Executive Officer of Buna said: “As a market infrastructure, we took the unique and innovative position to include anti-money laundering and combating the financing of terrorism checks in the payment system itself rather than maintaining these checks at the level of the participants exclusively. Being a cross-border and multi-currency payment system, we were advised by the Council of Arab Central Banks and Monetary Authorities Governors to add this pillar as an additional layer of compliance to our setup and set our own high-level standard, which ensures full adherence to the requirements of each, and every regulator of the currencies involved in the system and provide all our stakeholders with an additional element of trust. “

Mehdi added: “Buna highly value the increasing security needs accompanying cross-border payments. Therefore, we paid particular attention to implementing governance and system capacities ensuring protection of our participants data and providing secure and safe channels.”

Buna, is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment. Buna offers participants modern payment solutions that comply with international standards, principles, and compliance requirements.

Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.  LINK

MilitiaMan:  So we can see that with the level of participation of 200 senior officials from Arab and international Central Banks being involved in the BUNA system is no laughing matter. In fact, it was a logistical feat of itself, to get that level of participation, would have had to take time and coordination. It speaks volumes.

The country of Iraq is going smart tech now. Just as the borders are too. They are now already catching the pilfering of funds. That is not going to be allowed anymore. They are to nip that in the bud, pronto, as noted above.

Then there is the below. They are going to the internet for international accounts.

 They'll need imo an international rate when all is ready, set, go.. imo

That appears to be underway and on many levels. Even King Salman has granted license for ITB to open branches in the Kingdom.. .imo ~ MM

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The International Islamic Bank launches a new service

7th May, 2021

The International Islamic Bank has launched a new service, which is the opening of a bank account via the Internet

The bank said in a press release, seen by "Al-Eqtisad News", that "The Islamic International Bank has launched the service of opening a bank account ONLINE through the bank’s website, in implementation of the principle of financial inclusion and to provide excellent services to customers that achieve speed, accuracy and safety, and to   LINK

Samson:  The Minister of Planning reassures the employees ... and announces: The benefit of raising the dollar is more than its harm

05/07/2021 1:56:43

The Minister of Planning, Khaled Battal Al-Najm, assured employees that they would secure their salaries by the end of this year.

Al-Najm said in a televised statement: "The government of Prime Minister Mustafa Al-Kazemi came to solve a problem in three files: {the elections - reforming the economy and facing the pandemic - and the security file}, indicating that" the government provided all the requirements of the electoral process." He emphasized, "Salaries are fully secured for this year, and we have succeeded in restoring the true role of the Ministry of Planning, which is to draw a sound economic policy for the country." He pointed out, "We have about 2000 suspended projects out of 6 thousand projects, and the coming period will witness the return of many of the stalled projects to work."

Al-Najm pointed out that "the 4 trillion dinars in regional development allocations will be allocated to the completion of ongoing projects, and this is a great success for the Ministry of Planning," stressing that "the stalled projects are costing us great damage." The Minister of Planning said, "The change of the exchange rate of the dollar represents a response to the economic reality, and economic competition requires such a measure," adding, "The economic benefit of changing the exchange rate is more than its harm." "Within two years, we will overcome the crisis, and we will have a national product that is able to compete with the importer," he said.

Al-Najm explained, "The government dealt wisely with the security file," stressing that "the stability of the situation in Iraq under complex circumstances represents an important success for the government and running the economic rudder in light of a complex crisis is a success for the government." He believed that "the government succeeded in confronting the pandemic by exceeding expectations," noting that "we did not find anything condemning the Minister of Health in the accident (fire) of Ibn al-Khatib Hospital, and the Ministerial Committee did justice to the minister."  LINK

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MilitiaMan:  Well Iraq imports just about everything and the citizens are seeing it in food, housing, building materials, etc.. So, with the harm that is being done, changing the exchange rate again in my view is more of a benefit than the harm that comes with the devaluation. With that in mind, changing it again, may be what they need. imo ~ MM

A fall in the exchange rate is known as a depreciation in the exchange rate (or devaluation in a fixed exchange rate system). It means the currency is worth less compared to other countries. For example, a depreciation of the dollar makes US exports more competitive but raises the cost of importing goods into the US.

"An appreciation in the exchange rate is beneficial if it is caused by the economy becoming more productive and competitive"

Thoughts From MilitiaMan and Petra Wednesday 5-5-2021 "Mechanism"

KTFA:

MilitiaMan:  MECHANISM…… No RATE No DATE... So I'll use MECHANISM... lol…

SWIFT did a joint ventrue with China recently.. Which imo was a 180 degree move from August 2020. They did it in January of 2021…. They were to clear Yaun digitially.. Just as Iraq and the USD is to have been interlinked 05/01/2021….

MECHANISM is a tool.. An exchange rate regime is a tool.. imo….. A tool for implementation in respect to integrating the 2021 budget even. Imo….. "the budget law has begun to be implemented and instructions for its implementation were issued by the Federal Ministry of Finance, despite the governmental appeal to the Federal Court."……….. BEGUN……..

MilitiaMan: ""the federal government has not sent the region’s share yet, and a technical delegation from the region must visit Baghdad to agree with the federal government on a mechanism for implementing and implementing Article (11) of the Budget Law regarding the Kurdistan region’s share." "…… " to agree with the federal government on a mechanism for implementing "….

There may be items to be done prior to the rate exposure. As in sign off on the mechanism for their share... imo…..

"During the meeting, they discussed bilateral relations between the two countries and ways to enhance them in the political, security, economic and cultural fields in the context of the strategic dialogue between the two countries and in accordance with common interests, and the importance of continuing work in combating terrorism and eradicating its roots in the whole region was emphasized."

The statement continued, "The latest regional and international developments of common interest were also discussed."…….

To the above quote... Enhance "ECONOMC" is in there. I recall the USA is in full support of the ITB and the CBI... This delegation would know that and be apart of that.. imo " strengthening its economy," they say.. too…. use gave green light….

"For its part, the delegation expressed the continued support of the United States of America to Iraq, their commitment to the strategic partnership, and work together for a strong, sovereign Iraq."…

For a strong sovereign Iraq... Interestingly enough that fits with a mechanism... A strong one.. lol….

I like this too. "The investment in repairs that will allow plants to generate up to 2.7 gigawatts of power, was backed by the UAE's export credit company, Etihad Credit Insurance. The ECI will insure GE's debt, provided by lender JP Morgan."…. JPM will be clearing through the BUNA...

See what I mean.. Things are in motion.. The big boyz get the fat first... lol…. Al-Kazemi names the "reconstruction engineer of Erbil" as his advisor…. The guy is astute!....

"Nawzad Hadi, who is dubbed "the engineer", managed the tasks of the local government in Erbil, the capital of the Kurdistan Region, for more than 15 years, and Erbil was known during his period with a construction and industrial revolution, in addition to attracting well-known investment companies."…..

Baghdad Municipality called on Tuesday for Saudi companies to implement electronic automation project and infrastructure projects in the capital….

Sounds like the Saudis are looking to get SMART in Iraq.. Electronic implementation.. interesting. .

 The Mayor of Baghdad called on Saudi companies to "implement the electronic automation project," stressing that "one of the important projects that the secretariat relies on in the administrative and financial organization of the institution and projects to develop the urban landscape and preserve the heritage buildings, as well as participate in the infrastructure projects as part of the Baghdad Renaissance campaign launched by the Municipality. Baghdad and includes all areas of the capital."….. 

https://sovereignmoney.site/what-is-sovereign-money

Read that link and then think about what the delegation is talking about. interesting.. imo………

"Regarding the accumulation of the past four months (from 1 month to 4 month), Al-Sudani said, "The ministry stated that it is going through its calculation and will be disbursed in the coming days.""………..MilitiaMan

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FROM PETRA::  I have received several PM's asking about the auctions so I thought I would take a second and explain a few things and remind us all about the current need for auctions.

Remember, the Dinar is still at a PR (sanctioned) rate. Even though they have been given a clear approval to move forward by the IMF/WB/UST they still are under the old rate. And, because of that, they CANNOT use the IQD to purchase goods outside of their country.

The only 'mechanism' they have currently is to trade their Dinars with the banks for USD to purchase medicines, computers, Pepsi, and other goods that are not manufactured in Iraq.

So, they must continue to purchase using USD until they change their rate to an internationally recognized and accepted currency.

At the same time, what are people turning in to purchase the USD??? Yup....Dinar!

So, the auctions serve two purposes: it allows for import purchases as stated previously as well as draw in more notes from the citizens. Will this change after the RI...you bet! But for now, this is the necessary process in order to continue international trade to provide what Iraqi's need to live. All IMO 

As to today's posts there clearly are some great nuggets that demonstrate progress on the financial front: All focused on "income" to the CBIs ledgers.

Post 64 "Oil prices rising"...that only bodes well for all the gulf states including Iraq. Samson brought in a great post 137 that shows the Ministry of Oil announcing an increase in revenues from 1B per month to 6B USD/month. (remember, all oil transactions currently in the GCC are in USD).

I like this one, Post 66: The Basra Investment Commission announced, on Wednesday, the inclusion of mega projects within the current year’s plan, the most prominent of which is the implementation.... Did you catch that? "The current years plan!"

 Remember the meeting a week ago Sunday where they discussed the implementation of the budget? Well, there you go! Yes, they announced this last week but for a reason, repeated this announcement again! Interesting I would say!

Post 67 again, more increase in revenues from the Ports...more than 10B dinars in April!!! Cha-Ching!!

Now, as MM has shared with all is the digitization of the Iraqi banking system....post 70. Very self explanatory and evidence of the E-Dinar in play. Notice the "limits" on cash withdrawls...why? Accountability and control! Something the IMF has asked for and they are obliging.

Many more articles Clare has brought forward to demonstrate that Iraq is getting financially stronger and truly getting their house in order under the direction of the IMF/WB/UST.

And now as Frank announced last night, the expansion of banking and representation in SA!!! Huge as now there are 2 banks that we know of strategically placed in Riyadh. This is very important to understand why!! Trade, and strength in the Gulf region not to mention...deep pockets and alliances that are necessary to strengthen the GCC, AAD, AMF, etc.

 More articles discussing France and China engagements (contracts) all are telling a very exciting story for the strength growing daily of the IQD.

Stay the course!!!! All IMO PETRA

Ziad Khalaf: The Iraqi Summit For Digital Transformation Is A Gateway To The Country's Development

Organized by Global Frontier Exchange

On May 5, 2021   The Independent / -

The Iraqi Digital Transformation Summit dealt with the prospects for digitization and the transition towards electronic transactions and automation and the role of governance in the development that the country seeks. For the Iraqi economy.

The conference, organized by Frontier Exchange, with wide global and local participation, shed light on the available opportunities and challenges, in order to advance the reality of digitization and electronic transactions in the country.

The Chairman of the Board of Directors of the Development Bank, Ziyad Khalaf, said: Humanity is now living in the fourth industrial revolution, which is the Digital Revolution, which is an objective merit and an extension of the third industrial revolution, which is the Information Revolution that we have witnessed at the end of the last century.

A strategy related to building the information and communication technology sector that includes a number of basic goals and objectives corresponding to the goals of the World Summit on the Information Society, aiming to open investment horizons, most notably investment in the telecommunications and information technology sector in order to make the center of Iraq within the technologically advanced countries, which will open new investment doors that enhance Economy, financial returns, and great job opportunities for Iraqi youth.

He pointed out that the Central Bank of Iraq launched the "digital enrollment service", which is the first of its kind in Iraq, which is an integrated digital financial system that promotes independence and financial liberation from traditional financial systems, as it works to transform Iraq into a country less dependent on cash, which enables the state to bypass bureaucracy. In financial transactions within the operating banks in Iraq.

Khalaf added, "Our sponsorship of this conference confirms our interest in the issue of digital transformation, and our keenness to continue investing in infrastructure and database, applying the latest existing technologies, providing banking services in a large scale and investing in human capital for a better future for our upcoming generations."

We are certain that digital transformation is the prevailing trend to achieve national integration, and it has been proven that we have three areas and outlets that are used in various fields, namely the land, the sea and the air.

Therefore, Iraq has to consider the cyberspace as its fourth field because of its effective and clear impact. In leading national tasks such as economic development, trade, transactions, social, medical and health interactions, government operations, and national security.

He said: Iraq adopted the National Cybersecurity Strategy to provide strategic measures and procedures to ensure the security and protection of the Iraqi presence in cyberspace, protect the digital infrastructure, and build and nurture a safe and reliable internet community, as this strategy consists of several supportive short, medium and long-term plans.

In turn, the representative of the organizing company Frontier Exchange, Ahmed Al-Jader, said: This event comes in an important exchange and coincides with the directives of the Iraqi government aiming to transform into a comprehensive electronic system in all state institutions, where the conference will discuss the possibility of applying automation processes in ministries, government institutions and their branches, and other related topics In digital transformation and e-government.

He added that this virtual summit contributes to converging views between life makers from the Iraqi government and local and foreign companies working in the field of information technology, automation and integrated technological solutions in addition to electronic payment companies, as our company owns a large database of many local and foreign companies working in this field.

As for the managing director of the Arab Company for Electronic Payment, Haider Al-Obeidi, he stressed that the direct cooperation between the Central Bank of Iraq and the providers of electronic lift services has contributed to the consolidation of the electronic payment infrastructure, in terms of the database, governance rules and instructions, and local and international compliance.

He pointed out that the companies licensed by the Central Bank, Visa and MasterCard, and the two operators were able to support most banks in issuing international cards and portraying the reality of electronic payment services.   LINK

FROM PETRA: This is key:

"the direct cooperation between the Central Bank of Iraq and the providers of electronic lift services has contributed to the consolidation of the electronic payment infrastructure, in terms of the database, governance rules and instructions, and local and international compliance. He pointed out that the companies licensed by the Central Bank, Visa and MasterCard, and the two operators were able to support most banks in issuing international cards and portraying the reality of electronic payment services."

Key words: consolidation, infrastructure, governance, local AND INTERNATIONAL compliance, INTERNATIONAL cards...etc. Really a huge article and note..this meeting is in the past!! IMO....PETRA

KTFA Members "News and Views" Wednesday 5-5-2021

KTFA:

Clare:  FROM FRANK: KTFA FAMILY ................ JUST FOUND OUT THAT WS (WalkingStick) MADE IT THRU THE OPERATION….. PRAISE GOD .........................

HE IS RESTING .........

TY KINDLY FOR YOUR PRAYERS AND SUPPORT ................ FRANK26

Bambi:  I haven't heard much about Executive Order 13303 in a while so I looked it up again. The original date is May 22, 2003.    HMMMMM...

Executive Order 13303 was issued on May 22, 2003 by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well.

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BearCinnebar:  Here are some meat & potato documents from the International Monetary Fund IMF:  for the new people we have introduced KTFA to:  THANK YOU FOR THIS POST TO BE ALLOWED:

HERE ARE THE LATEST IMF INTERNATIONAL MONETARY FUND REPORTS GIVING IRAQ DIRECTIVES:  THE GREEN LIGHT IN DECEMBER 2020:  AND FOR SWIFT IMPLEMENTATION FEBRUARY 2021:

 IMF Staff Completes 2020 Article IV Mission with Iraq

December 12, 2020

HERE IS WHAT IS IMPORTANT:  7TH PARAGRAPH:

“A decisive strategy to reform the large state-owned banks and level the playing field ( to be on par with the American Dollar ) in the financial sector will enable private sector development and secure financial stability.

https://www.imf.org/en/News/Articles/2020/12/13/pr20372-imf-staff-completes-2020-article-iv-mission-with-iraq

AND

 IMF Executive Board Concludes 2020 Article IV Consultation with Iraq

February 11, 2021

HERE IS WHAT IS IMPORTANT:  7TH PARAGRAPH:

 They welcomed the authorities’ planned fiscal reforms in the “White Paper” and encouraged their careful prioritization and swift implementation while minimizing the impact on the vulnerable.

https://www.imf.org/en/News/Articles/2021/02/11/pr2137-iraq-imf-executive-board-concludes-2020-article-iv-consultation?cid=em-COM-123-42639

REMEMBER TO THANK FRANK26 & MILITIAMAN FOR GIVING US THESE DOCUMENTS!

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Samson:  China announces the imminent launch of the agreement with Iraq .. 30 billion volume of trade initiative

5th May, 2021

Today, Wednesday, China announced the imminent activation of the agreement with Iraq, while revealing that the annual volume of exchange between the two countries has reached 30 billion dollars.

"The annual volume of exchange exceeded 30 billion dollars annually," said Chinese Commercial Counselor Xu Chun, during a press conference with Chinese Vice Ambassador Jian Fangning, through a closed circuit to introduce the Chinese development achievements and the development of economic and trade relations between Iraq and China. 2019, the volume of exchange reached 33 billion and 300 million dollars, but last year it decreased to 30 billion and 200 million dollars, as a result of the decline in world oil prices.

He added that "China is still considered the largest importer of Iraqi crude oil despite the decrease in imports due to the repercussions of the Corona pandemic."

On the date of implementation of the agreement signed between Iraq and China, he explained that "the Chinese Sancho Foundation is working closely with the Iraqi Ministry of Finance and the Central Bank to address technical issues," stressing that "the Sino-Iraqi agreement will be activated as soon as possible and there is a serious intention in this regard."  LINK

Samson:  The judiciary examines the procedures for implementing the investment law

5th May, 2021

Today, Wednesday, the President of the Supreme Judicial Council, Judge Faiq Zeidan, discussed with the President of the National Investment Authority the authority’s procedures in implementing the investment law.

A statement of the Judicial Council, of which the Tigris received a copy, stated that “the President of the Supreme Judicial Council, Judge Faik Zidan, received today, Suha Dawood Al-Najjar, Chairman of the National Investment Authority.”

The statement added, "The meeting discussed the Commission’s procedures for implementing the investment law."   LINK

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Samson:  Baghdad's ambassador in Rome to RT: We asked Italy's help to lift the seizure of Iraq's funds frozen in its banks

4th May, 2021

Tuesday, the Iraqi ambassador to Italy, Safia Al-Suhail, revealed that her country submitted a request to the Italian government to lift the seizure of Iraq's funds frozen in its banks.

He told RT, "The request includes Iraqi funds frozen before 2003 in Italian banks."

She added, "The Italian Foreign Minister affirmed his country's keenness to solve this problem to recover the funds of the frozen Iraqi accounts in his country's banks."

Al-Suhail emphasized Iraq's desire to strengthen its relations and openness towards economic relations with Italy, and called on Italian companies to invest in reconstruction projects and expand cooperation in the sectors of culture, education and tourism.

The funds of the former Iraqi regime and those connected to it were frozen in 1990 by UN Security Council Resolutions 660 and 661, against the backdrop of Saddam Hussein’s regime’s invasion of Kuwait.

LINK

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Samson:  China invades the world of digital currencies with "Xia"

5th May, 2021

In an attempt to establish its dominance early on the encrypted digital currency market, approved by governments around the world, China launched the "Xia" digital currency, the first cryptocurrency, as part of its plans to find alternatives that reduce the dollar's control over global payments.

According to official data, China aims to make its digital currencies on a wide-ranging exchange list, and to quickly adopt them in the financial, corporate, commercial and government sectors, to become competitors to the most famous Bitcoin counterparts. Although digital currencies are considered the future, they create problems for governments that control the money supply, and do not favor exchanging money with a technological alternative.

Last Monday, the start-up "Xia", which is based in China, launched its digital currency through which it seeks to reinvent digital money, to become the first private cryptocurrency called "Chia" with government approval. The "Shea" platform began its trial operation on 19 March. China's move to launch cryptocurrencies came after the record highs of the Bitcoin currency, which currently exceed levels of 56 thousand dollars per unit, compared to less than 7 thousand dollars two years ago.

This comes along with the Chinese authorities unofficially launching their digital currency, the yuan, last February, becoming the first major economies to introduce a government digital currency. According to the data released, the "Chia" project has undergone development for more than 3 years, during which the entity responsible for development has raised about $ 3 million in the first round of financing for 2018, and since then it has raised $ 28 million in two additional rounds.

Advantages of Chinese currencies

The new Chinese currencies differ from the known cryptocurrencies, which are decentralized and unsecured, unlike Chinese currencies, which will be approved by the central bank and guaranteed as legal currency by the state. Thus, digital transactions will be subject to the supervision of the Central Bank and help in combating money laundering and terrorist financing.

The "Shea" platform relies on blockchain technology and hard disk storage capacity in the process of extracting the currency, unlike Bitcoin, which consumes large amounts of energy during its mining. China plans to make its digital currency an alternative to traditional financial networks, to provide a safe and energy-efficient network for modern financing and payments. "Xia" significantly reduces energy consumption and environmental pollution, which makes it preferred over other currencies such as Bitcoin, Ethereum and thousands of other currencies.

In a previous statement, Xia said that using the cryptocurrency should be easier than using banknotes, more difficult to lose, and almost impossible to steal. The company added that it aims to sell software services and smart transaction software to governments, financial institutions, companies and major buyers. It added that it plans to publicly list its digital currency in the future, through which it will mainly allow the backers to treat its shares as an exchange-traded fund for the "Xia" digital currency.

The number of encrypted digital currencies around the world is about 5,120, with a market value of more than $ 2.275 trillion as of Tuesday morning, with Bitcoin acquiring the largest share of them, by 46 percent, at a value of $ 1.05 trillion. Investors in virtual currencies are finding a feasible investment tool, after the decline in gold prices and the dollar, which over the past nine months have formed a safe haven for dealers due to the Corona virus. The idea of ​​"virtual currencies", including "Bitcoin", appeared in Japan at the end of 2008, and it did not obtain coverage for its value in gold or foreign currencies, and it has nothing to do with central banks.  LINK

KTFA Monday Night CC with Frank26 "Phase 4" 5-3-2021

KTFA:

Monday Night KTFA CC with Frank26 and His Team

Frank’s Team is Walkingstick, Petra, MilitiaMan and Eddie in Iraq”

5-3-21........PHASE 4

This video is in Frank and teams opinion

PLAYBACK IS:   605.313.5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=AWznobGW-9s

MilitiaMan, DeepWoodz and More Sunday Night "The Pressure is Now In our Favor"

KTFA:

DeepWoodz:  From article....”During the workshop, a senior representative of JP Morgan and Buna executive team, will share insights and important information on Buna’s recent success of adding the US Dollar to its diversified list of Arab and International settlement currencies.”

Question for you MM..Is it possible for countries in the AMF which use Buna as their platform, to have internal exchange rate agreements without telling the rest of the world their business?  

MilitiaMan:  My understanding the AMF likes to keep their cards close to the chest when it comes to specifics on currency exchange rates, if they can and are playing within international rules, I would suspect so.

MilitiaMan: The AMF tells us the valuation of the AAD is 3x SDR / IMF. They don’t get specific from what I see.

What I have seen is them give values of loans in USD terms whereby, one can do the math based I’ve the value and come up with an exchange rate. If I recall accurately there were loans to Tunisia a couple years ago that amounted to over $4.00 USD.

Even today 3x SDR is over that.. As of Friday the SDR at the IMF is over $1.43+.. If they keep to what the AMF has for the AAD, we can have an idea what to look for into the future. Imo..

We know from what we have been told they are not floating the currency. Thus, to be stable they’ll need a strong and stable exchange rate for to do that. To defend a currency at a low rate can be far to risky. The stronger it is the better and easier it is to defend imo.

Let’s see what they decide to show us next. The list of things accomplished now is powerful. E-Government is in place. E-Commerce is in place. Electronic borders for fees, taxes, customs, etc., are all set and ready to go.  

E-Payments and settlements... done.... ready to go..

Digital Dinar and Dollar were to have Interconnectivity yesterday with and through the Iraq Trade Bank.. I can presume that is done...  

Financial inclusion is done.. The ITB also has the full support of the USA, as does the Central Bank of Iraq. So we can see that by all those items, there is not much left to do other than adjust the exchange rate to meet international standards.

Thus, we can safely presume they have the citizens in mind in the end scheme of things and that is to bring them purchasing power and not more long term inflation.. imo

We are in a very powerful place and no one should be discouraged. I sure am not!! ~ MM

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DeepWoodz:  Nor am I!!! Just want to finish this thought. IMO So if AMF and Iraq and other kumbayas are keeping it quiet together for now, makes sense how stage 1 and stage 2 can be complete working on stage 3 and we wouldn’t have heard via forex, google, or wherever. If this is a scenario that is possible I don’t know. Just spit balling. 

If this is the case, by the time Dinarians like us hear about it, it may very well be the REER!! (Real Effective Exchange Rate)

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Samson:  Kurdish parliamentarian: The Kurdistan government is delaying the time for not delivering the oil

12:50 - 02/05/2021
The deputy of the Kurdish Hope Group, Ghaleb Muhammad, confirmed, on Sunday, that the Kurdistan Regional Government is stalling at the time in order not to deliver the oil to Baghdad.

"We entered in the fifth month and the budget agreement was about a month ago, and it is still not actually implemented, and this is because the government does not intend to deliver the oil," Muhammad said in a statement to "the information".

He added that "the budget agreement has become effective and does not require visits and technical delegations, and all the belongings are explained in the paragraphs of the law, but the regional government wants to gain time for electoral purposes, and with the aim of maintaining the deduction of employees' salaries, which go to the benefit of the parties of power."   LINK

 MilitiaMan:   This is an article depicting what I was talking about earlier. The parties that get shown to be holding things up in respect of the citizens livelihoods and future livelihoods too.. Making the citizens suffer for political gains can be a double edged sword. My bet is they’ll get the spark they need to get out of the way.. A spark in the wrong place could blow up in their faces especially if to much pressure is applied to the citizens. IMO  MM

Clare:  PLEASE REMEMBER IN YOUR PRAYERS, WALKINGSTICK ....SURGERY WILL BE 8 AM EST, MONDAY MORNING.... THANK YOU

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Samson:  Representative economics: 95% of the materials consumed in Iraq are "imported"  

14:15 - 02/05/2021

A member of the Parliamentary Economic Committee, Representative Nada Shaker, confirmed, on Sunday, that 95% of the materials consumed in Iraq are imported.

Shaker said in a statement to "the information", that "Iraqis are paying the price for the misfortune and corruption of the successive governments that unfortunately paid for bankruptcy in such a way that paying salaries has become one of the difficult things that the government has resorted to borrowing to secure, even though the country is a first-class oil country and is complemented by mineral resources and a very colossal nature." In addition to human capabilities. ”

He added, "Iraq's economy is primitive and a lot of its resources are wasted, stressing that 95% of the consumed materials are imported despite all the available energies at home, but the absence of planning and the will to take decisive decisions has led us to reach a very miserable stage that has created very high rates of poverty and unemployment."

She pointed out that "the negative economic repercussions strongly pressurize society and will have dire consequences in the near future, especially since the poverty crisis and the suffering of millions of simple people will explode in every great cost of living that has reached a very difficult stage."

And Iraq suffers from a significant increase in corruption rates and confusion in its economic decisions, which affected the conditions of millions of poor people.”  LINK

MilitiaMan:   The seriousness of this one is the pressure I speak of. Look at some of the language they use. Misfortune! Dire consequences!! All against the poor!! There comes a time when things get drastic, then drastic measures need to be used to counter the negativity of the situation that has been created by the devaluation and massive corruption that has taken place over the years!! The pressure now is in our favor imo.. - MM

MilitiaMan and KTFA Members "Good Things On All Fronts" 5-2-2021

KTFA:

Don961:  Housing development boosts the dollar cycle in the markets

Sunday 02nd May 2021

Baghdad: Morning 

International economist Muhammad al-Najjar urged to attract the monetary blocks hoarded in homes to the field of work, by creating outlets that attract this money in a direction that benefits both parties to the process.

He said: “The dollar cycle around the world revolves 23 times, while inside Iraq it continues three cycles and hoardes, and this matter does not serve the capital cycle in this aspect, and here we can benefit from global experiences, where the citizen works to operate his sums, he does not hoard them. Here it will benefit the country and its personal economy by adopting sound mechanisms through the stock exchange or investment companies Contribution ».

It is noteworthy that the World Bank reports indicate the existence of a dollar block in Iraq, which does not find access to the economic process that attracts capital this is. 

He pointed out that «the development of the housing sector leads to the creation of a major economic movement and provides many job opportunities for the skilled and unskilled labor within this sector and in other supportive sectors, and attracts a large proportion of the hoarded cash mass Iraq".   LINK

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Zelmo:  If I read this article correctly, we are being told that the Iraqis are still hoarding their money in their homes.  If correct, isn’t it possible that the CBI is still trying to collect more of the large denomination dinars; hence, which would explain (IMO) why 1-to-1 either has not occurred or is not being publicly released.

DoopWoodz:  Imo...Im sure someone somewhere knows the real reasons behind the scenes. I can pose a positive spin on this though. 

We know there is a second set of books in use. Or was. 

We know that they are supposed to be 1:1 DIGITALLY. 

We know that Iraq has agreements with MANY countries concerning trade which must involve the exchange rate, and no country wants to deal with a program rate. 

My thoughts are they will reveal it to the world when they have reached their benchmarks. I believe the agreements they have with the international world are already in effect with the new rate.

I believe when the amount of 000’s that they are recovering dwindles down to almost nil, that’s when they pop out with the NSCN’s (New Small Category Notes)  and the new rate to the citizens. 

Remember that when the citizens have it, the world is right behind them! Game over. 

Notice the article out about Ministry of Culture talking about hurrying and gettin on with the digital transformation! Progress is being made in a hurry and it can only be for one reason. They want that rate out to benefit the citizens! It won’t work without them and OH BABY is it going to work with them!!!

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MilitiaMan:  Deepwoods, well done.  It also  suggests not only housing but the stock market will be a mechanism to stimulate growth and support the economy. Imo  Adjusting the rate accordingly will attract that hoarded money, as by investing their hoarded money into the ISX will increase value based off supply and demand.

The more the money flows in, the higher stock prices go which in turn supports the economy from buying and selling local products.

The NIC has already started the campaign for investors to come apply for opportunity to invest in many sectors specific ones and many of them.

 Yesterday was to be a day where the Iraq Trade Bank was to start the Interconnectivity of digital Dinar and the Dollar. If that connectivity has in fact been put in place electronically, then it would seem that the ISX will need the same ability electronically.

 If they are opening to the world and they are imo, the borders crossings are already waiting and ready.

The logistics are far more complex than what Final Articles ever mentioned.. imo It surely has been a remarkable amount of progress to get this far. I agree with many there is no turning back.

The pressure has been turned up once again and the citizens are speaking very loud!!

The politicians may want to be very careful holding back and influencing the lack of retroactive payments. If the citizens find out they are the hold up of them getting them to them, it won’t go over well and they’ll vote em out!! Or even worse.. lol

There is plenty of data out from prominent economists the even of recent mentioned clearly that there is to a focus on the matter and that the HCL needs to be sorted and quickly for the whole!!

Digitization will have that taken care of. A level playing field with the smart technology initiative in mind will set this in motion quite quickly. At least it sure looks that way!!!

All the work to date shows me that they are not stopping and the corrupt are seeing evidence of that fact more and more as Kahdimi is after them and he appears to not be stopping.

A good thing on all fronts imo- MM

KTFA Members "News and Veiws" Sunday Afternoon 5-2-2021

KTFA:

Manu68:  What I don't understand is how they can go digital on May 1 without them going international and rate reflected on cbi website (even with the program rate although the PR would do nothing for them).

Buckeyetree:  In my opinion, I see the current waiting on a day to day basis from what we know and have seen thus far. Iraq has checked off a lot if not all the boxes including now going digital.  It will be great to see evidence of that, but the evidence might actually be the revalue to be shown.

Of course, the news that there is a lot of chatter in Iraq right now per the retired military person was very encouraging.  Someone posted about looking till after the Eid al Fitr holiday which is May 12 and 13.  Someone else had the opinion that thru mid May could be a good window which would fit with that holiday time period. Who knows, but we might wait till end of May.

No one knows exact date, but most in the forum have the feeling that it is closer to happening than ever before not just for the many dinar holders but especially for Iraqis, many living in poverty. They need the purchasing power which they do not get from a devalued program sanctioned rate. 

Supermars:  It sucks …its like they’re showing all the cards except the most important one imo …..just show the rate already …..everyone knows you’re holding that card

Don961:  Activating the economic activities of Iraq

Sunday 02nd May 2021 Baghdad: Exclusive 

A member of the Iraqi Federation of Industries, Abdulaziz Al-Khudairi confirmed that «activating economic activity between Iraq and the major economic blocs, is one of the things that contribute to activating economic activities, by investing in advanced technology for investment companies and transferring them to The country ».

He pointed out that «the form of economic relations often determines all other forms of relations, especially the political, and that the consolidation of economic relations achieves mutual benefit, which leads to the existence of real political relations resulting in benefits for all parties».

He pointed out that «some major economic blocs wish to strengthen cooperation with Iraq in order to strengthen economic work bonds in a way that achieves Common benefit.

It is noteworthy that Iraq has commercial relations with many countries of the world, which requires drawing a new map of cooperation that contributes to the development of economic sectors, benefiting from advanced technology and capital owned by specialized international companies.    LINK

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Samson:  Iraq is the seventh richest country in the Arab world, and ranked 105th in the world

2nd May, 2021
Iraq ranked seventh in the Arab world, and ranked 105 globally out of 140 countries listed in the list of the richest countries in the world for the year 2021 in terms of per capita share of GDP, according to the American CEO World magazine.

The magazine said in a report seen by Shafaq News: The State of Qatar ranked first as the richest Arab country, while it ranked 10 in the world, as the per capita share of Qatari GDP reached 59,143 thousand dollars, followed by the UAE 26 globally with a share of 35,171 thousand dollars, Kuwait 39 globally with a share of 25,290 thousand dollars and Bahrain 41 in the world, where the per capita share reached Of the GDP, 24,294 thousand dollars, then Saudi Arabia 43 globally, with a share of 22.7 thousand dollars, and Oman 51 globally, with a share of 16,212 thousand dollars, and Iraq came in seventh and ranked 105 globally, with a share of 4,632 thousand dollars.

Globally, Luxembourg was the richest country in the world in 2021, with a per capita GDP of 131,782 thousand, followed by Switzerland with a share of 94,696 thousand dollars, then Ireland with a share of 94,556 thousand dollars, then Norway with a share of 81,995 thousand, and the United States of America came in fifth place with a per capita share. With a gross domestic product of 68.309 thousand dollars, while the Ivory Coast state tops the list with 2567 thousand dollars, preceded by the state of Honduras, 2586 thousand dollars.

By gross domestic product, what is meant by the market value of all final goods and services locally in a country, that is, what is produced within the country during a specific period of time, and helps in measuring the standard of living of the individual, and the index is also a measure of the performance of the economy, so the higher the rate of GDP, the greater the size of the overall economy Thus, the total income increases, and ultimately the per capita income increases.   LINK

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Samson:  Allegedly linked to a "senior official" ... Erbil dismantles a serious kidnapping network in Baghdad

05/02/2021 15:02:23

On Sunday, the Erbil Governorate Police Directorate announced the arrest of a criminal network that was kidnapping women and children in the capital, Baghdad.

"We arrested a network whose members used to kidnap women and children, and they were saying that they belonged to a senior official in Baghdad and tribal leaders, but after arresting four of them at the beginning, everyone was reached," said Directorate spokesman Major Hawker Aziz in a press conference today.

He added that the network’s members were committing crimes at gunpoint and then bargaining with the kidnapped’s family and exchanging them for money, adding that we were notified of arrest warrants by the competent courts in Baghdad, and last Friday we arrested the main suspect in the network’s management.

The spokesman continued by saying: The process of their deportation to Baghdad is now being completed according to the joint agreement between the two parties, noting that during the year 2020, more than 183 suspects who had arrest warrants were arrested, and they were referred to the Iraqi judiciary.   LINK

Samson:   Iraq intends to seek the help of international companies to recover the smuggled money

2nd May, 2021

Iraqi officials revealed efforts to recover money smuggled outside the country, by using international companies, stressing the presence of high coordination in this direction, while MPs played down the importance of that, considering that the forces of corruption prevent any steps to recover these funds

Observers disagree about the value of the money that has been smuggled over the long years since the US occupation of Iraq in 2003, but they agree that it is sufficient to fully rebuild Iraq, provide infrastructure, job opportunities, and establish mega projects

According to the advisor to the President of the Republic, Ismail Al-Hadidi, "The President of the Republic (Barham Salih) is interested in the file of recovering smuggled funds, and there are ongoing procedures, work and coordination with Parliament, and meetings with the parliamentary legal and financial committees to enact an amendment to the law on recovering smuggled funds

Al-Hadidi said, in a statement to the local Iraqi News Agency (INA), that "Parliament has expressed its readiness to amend the current law, so that all smuggled Iraqi funds can be recovered, and soon there will be an amendment to the law and a vote on it before it. He explained that "the law includes how to recover money smuggled from abroad, in cooperation with international companies that adopt retrieval for certain wages," stressing "the need for external support, because most of the smuggled money and its smugglers are outside Iraq, and therefore there is a need for international solidarity

Al-Hadidi pointed out yesterday that "the international companies that will adopt the issue will pay their wages after recovering the smuggled money, according to legal principles," stressing that "the law must be tight and adopt the recovery of those funds, as it is an important step, and met with great interest before The President of the Republic and the Iraqi Parliament

The Iraqi president had confirmed, in early March, that he was preparing a legal code dealing with mechanisms to recover money stolen from Iraq, which are located abroad. This is his second comment in less than six months, as he had previously said, in October 2020, that Iraq is continuing to recover the stolen money and prosecute the corrupt. However, Iraqi lawmakers reduced the possibility of recovering what was smuggled, saying that "the influence and power of corruption prevents the possibility of taking any decision in this direction

"The file needs a courageous decision from the Iraqi state, with all its components, as the matter needs a political, legal and administrative decision," Ali Al-Badiri, the representative of the Iraqi coalition, told Al-Arabi Al-Jadeed. He added, "Corruption has become a consuming issue, and most of the measures to curb corruption are formal, and the reason is that influential bodies have great control over the political decision in the state, and it prevents harsh and strong measures against the corrupt. He stressed that "the law in Iraq applies only to the poor. As for corruption whales, it is difficult to apply it to them, because they are influential and decision-makers, and most of the course of affairs is under their control

In turn, an official in the Iraqi Integrity Commission considered that "the stolen money cannot be recovered, unless the influential forces are eliminated, which prevent any movement in this direction. The official told Al-Araby Al-Jadeed: “It is known that the parties that looted these funds still have wide political and parliamentary influence. He added, "Those forces used their governmental and political influence in smuggling operations, and paid commissions to several parties and provided fake receipts, and other steps, which cost them a lot, as their political power is linked to their financial strength

He continued, "The Integrity Commission has files condemning a number of high-ranking officials and their parties to the file of smuggled funds, and some of them have been submitted to the judiciary, but have been blocked by political pressure," noting that "any step towards restoration will be doomed to failure, except in the event that those powers are disposed of." And its political and parliamentary influence

The Minister of Finance, Ali Allawi, estimated the looted funds from Iraq at about 250 billion dollars, stolen since 2003 until now, and this amount builds many countries, and these thefts have led to a decline in Iraq's economic capabilities

However, the Parliament's Integrity Committee had estimated, at the beginning of this year, the volume of smuggled funds at about 350 trillion dinars (239.7 billion dollars), a number that exceeds the country's budget for more than two years, but former member of the Parliament's Financial Committee, Rahim Al-Darraji, confirmed that the value of the looted money It amounts to about $ 450 billion   LINK