MilitiaMan Sunday Night "It Is GO Time" 9-19-2021
.KTFA:
MilitiaMan: Iraq's position in the Fintech Industry Index FinxAr: LINK
In the wake of three industrial revolutions that the world witnessed, our world today lives in the era of the fourth industrial and technological revolution, which is based on unprecedented developments in the field of communications, information networks, digital technologies, big data, currencies, digital wallets, digitization of accounts, payments, chain of large data, the use of digital identity and electronic signature...etc.
Accordingly, the search for and application of these technologies in the implementation of transactions and how to use them has become not an intellectual luxury as much as it is an inevitable necessity imposed by the developments of the technological revolution.
Modern financial technologies Fintech are products and services that rely on modern technology to improve the quality of traditional financial operations or have an impact on financial institutions, including electronic payment applications, virtual currencies, digital identity, electronic signature and eKYC model. in the lives of societies and individuals.
KTFA:
MilitiaMan: Iraq's position in the Fintech Industry Index FinxAr: LINK
In the wake of three industrial revolutions that the world witnessed, our world today lives in the era of the fourth industrial and technological revolution, which is based on unprecedented developments in the field of communications, information networks, digital technologies, big data, currencies, digital wallets, digitization of accounts, payments, chain of large data, the use of digital identity and electronic signature...etc.
Accordingly, the search for and application of these technologies in the implementation of transactions and how to use them has become not an intellectual luxury as much as it is an inevitable necessity imposed by the developments of the technological revolution.
Modern financial technologies Fintech are products and services that rely on modern technology to improve the quality of traditional financial operations or have an impact on financial institutions, including electronic payment applications, virtual currencies, digital identity, electronic signature and eKYC model. in the lives of societies and individuals.
The annual General Index of Modern Arab Financial Technologies (FinxAr) aims to stand on the efforts of Arab countries in supporting the development of the modern financial technology industry, and to contribute to setting a vision for the modern financial technology industry in Arab countries and how to support the incubating environment for it, and to shed light on the challenges facing the development of the modern financial technology industry.
The indicator is the first of its kind at the level of dimensions it deals with to measure its efforts to enhance the incubating environment for modern financial technologies.
This axis is represented by legislation, laws, rules, regulations, institutional framework and supervisory bodies responsible for these activities and the extent of their governance, as well as packages of national programs, initiatives and strategies necessary to build an environment that incubates modern technologies.
Increasing access to digital finance and other associated technologies and increasing the use of smart devices as incubators for financial innovations.
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Day 1, 22nd September 2021
10:00 – 12:00OPENING MINISTERIAL WELCOME & VIP SESSION
H.E Professor Ali Allawi, Minister of Finance & Deputy Prime Minister
H.E Mustafa Ghalib, Governor, Central Bank of Iraq
H.E Suha Najjar, Chairwoman, National Investment Commission
H.E Salem Chalabi, President & Chairman, Trade Bank of Iraq
12:30 – 13:30IRAQ’S FINTECH REVOLUTION
How can the banking sector fast-track FinTech into their business model?
Adopting FinTech platforms as a source of legal and financial compliance.
Where does Iraq stand as a FinTech provider? Key FinTech technologies in Iraq.
Creating a legal ecosystem that enables FinTech’s to thrive and banks to digitize.
14:30 – 15:30 MOBILE BANKING SOLUTIONS FOR IRAQ
How can Iraq accelerate the development of electronic banking & mobile banking? solutions?
Secure Mobile Payments & the role of 5G to accelerate mobile banking practices.
Digital lending and loan platforms for a mobile market.
New innovations and technologies to satisfy the Iraqi market.
Cross border international technology: Innovation for mobile international payments. (See link to last day of Expo 09/23/2021 for additional data).
Adviser to the Prime Minister: The 2022 budget will be distinguished by something important, and we do not rule out surprises
08/29/2021 11:36:08
." Saleh pointed out, "Circumstances are changing, and there may appear surprises, as it relied on an oil price of 50 dollars per barrel, according to what was announced by the Ministry of Finance."
And Finance Minister Ali Allawi announced last Thursday (08/26/2021) the completion of the preparation of the draft financial budget law for 2022, and that it will be presented within 3 weeks to the Council of Ministers.
The budget for the year 2022 will be completed within 3-4 weeks (08/29/2021) and presented to the Council of Ministers, expecting to submit it to the next parliament.
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Finance Minister: We have started reform, and we need everyone's concerted efforts.
We are moving towards offering treasury bonds for trading in the Iraqi Stock Exchange,
He said: {Reform of government performance and the economic system is inevitable, and far from it we cannot create an incubating environment for the economy}, pointing out that we have begun a real reform of government institutions, banks, customs and taxes, in order to manage Economy". LINK
"It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45, using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar. Iraq against the dollar." LINK
The Federal Court sets the date for the decision to appeal the budget.
The court had set September 19 as the date for hearing the budget appeals. (today)
channel and followed by "Al-Iqtisad News", that "the 23rd of this month has been set as the date for the issuance of the decision to challenge the budget. (Thursday)
Al-Amiri promises the "Lord of the Land" a promising plan and pledges to end the "occupation of the dinar"
The Secretary-General of the National Producer Gathering, Jassem Al-Amiri, launched his electoral campaign for the early parliamentary elections scheduled for the tenth of next October, listing his step within the framework of "change" and a promise to reform the agricultural and industrial sectors and end the occupation of the Iraqi dinar.
And he indicated that "the plan includes the development of the industrial and banking sectors, accompanied by the practical sovereignty of the national product," pledging to "end the external occupation of the Iraqi dinar by certain and specific countries."
MilitiaMan: From the amount of convergences we see above they timing is clearly in our favor for an exchange rate change.
They are openly talking about digitization and with currencies being apart of the future outlook and much more. There are clear time frames being talked about. They are their words and not mine. I suggest one reads the snippets and take in the chronology of events seriously.
They are profound in correlation and timing. The process to digitize is inevitable. It is new and is at incubator status. That means ground floor to investors. Thus, the new economic environment is ripe to grow and big time!
The environment will need the exchange rate to be with out occupation. As, in not at a program rate.
They even tell us so and that specific countries have had a hand in keeping the exchange rate occupied. They had to to get this to where we are now. A place where Iraq goes digital and international.
They even told us that it is inevitable and that they already have it in the cards to evaluate oil pricing in Dinar.
Digitizing Iraq at a program rate is not in those cards, in fact it won't work. Digitizing and Block Chain technology, the most advanced systems in the world will require a level playing field. A program rate is not on one.
The 2021 Budget Amendments were said to be slated for the 14th of September, though on the 17th they told us they postponed that until today.
Today they told us they heard the appeal and will decide on the 23rd. Well, above we see events on the 22-23rd at the EXPO. Look who is in the line up.. It is the PTB in finance in Iraq.
All of the work in the White Papers PM Kahdimi laid out on 08/22/2021 are about what we are witnessing now.
A digital transformation that will be global is fully underway and cannot stop, imo..
They are going to end the occupation of the DINAR and that means they are to have practical sovereignty over their national product, their currency!!! That is what I see.. I hope you all do as well.
Lets see if we get a surprise and they show just how sovereign they really are prior to the 23rd. ~ MM
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Samson: Expert: The next government can achieve an unprecedented economic achievement.. How?
19th September, 2021
The economic expert, Safwan Qusay, expected, on Sunday, that the next government will rely on the available financial liquidity without resorting to internal and external borrowing, indicating that this step is the most important achievement for it
Qusay said, "The current government has raised the price of the dollar significantly, which has increased financial liquidity due to the contraction of salaries and other expenses
He added, "After forming the government and presenting the new budget, the government can play a proactive and reformist step that will be historic by preventing internal and external borrowing in any way
Qusay explained, "This step will be fruitful, especially with the cash flow due to the rise in dollar prices, as well as global oil, which exceeded 70 dollars in most months of this year," noting that "not borrowing will establish a new economic principle LINK
MilitiaMan: This is showing us they have a new methodology in play. They apparently have massive liquidity from the devaluation from 12/20/2020 and oil pricing going up from $40s to $70s+.
In fact they are effectively saying that they are going to play a proactive reformist step in reforms, that will be historic in nature.
They will not need to internally borrow nor externally, as they have the liquidity. Add in the money's clawed back from abroad? A Bonus for their diligence and efforts.
The mini international summit was a success, why? The hundreds or central bankers and alike were informed of the digital transformation that was to arrive and how to comply within the international arena.
It is go time.
They walked us through the process.. Now it is show us the color or your money. I'll bet the EXPO before, at or just after see it live.. imo.. ~ JMTC~ MM
Some "Sunday News" Posted by Samson and KTFA 9-19-2021
.KTFA:
Samson: Expert: The next government can achieve an unprecedented economic achievement.. How?
19th September, 2021
The economic expert, Safwan Qusay, expected, on Sunday, that the next government will rely on the available financial liquidity without resorting to internal and external borrowing, indicating that this step is the most important achievement for it
Qusay said, "The current government has raised the price of the dollar significantly, which has increased financial liquidity due to the contraction of salaries and other expenses
He added, "After forming the government and presenting the new budget, the government can play a proactive and reformist step that will be historic by preventing internal and external borrowing in any way
KTFA:
Samson: Expert: The next government can achieve an unprecedented economic achievement.. How?
19th September, 2021
The economic expert, Safwan Qusay, expected, on Sunday, that the next government will rely on the available financial liquidity without resorting to internal and external borrowing, indicating that this step is the most important achievement for it
Qusay said, "The current government has raised the price of the dollar significantly, which has increased financial liquidity due to the contraction of salaries and other expenses
He added, "After forming the government and presenting the new budget, the government can play a proactive and reformist step that will be historic by preventing internal and external borrowing in any way
Qusay explained, "This step will be fruitful, especially with the cash flow due to the rise in dollar prices, as well as global oil, which exceeded 70 dollars in most months of this year," noting that "not borrowing will establish a new economic principle LINK
Samson: Demands to disclose the amounts obtained by the government due to the increase in oil
19th September, 2021
Former MP Wael Abdel Latif demanded, on Sunday, the government of Prime Minister Mustafa Al-Kazemi to disclose the value of the sums it obtained as a result of the rise in oil prices compared to what was calculated in the current year’s budget, wondering why the government did not prepare a supplementary budget due to the presence of financial abundance
Abdul Latif said, “This year’s budget was built on the basis of calculating the price of a barrel at 45 dollars, while international prices were more than that until they reached more than seventy dollars, and this means that the government during more than a year obtained large sums of money from hard currency.”
He called on Al-Kazemi’s government to “disclose the value of the amounts that it obtained as a result of the rise in oil prices, compared to what was calculated in the current year’s budget
Abdul Latif added, “The government confirmed that it had obtained financial abundance as a result of the price hike, but it did not transparently disclose these amounts, and this is a matter that calls us to be concerned and suspicious,” wondering “why the government did not prepare a supplementary budget due to the presence of financial abundance
It is noteworthy that similar demands were made by a number of representatives and officials to the government to disclose the value of the sums collected as a result of the rise in oil prices, knowing that the rise in oil prices has been going on for more than a year LINK
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Samson: A parliamentary committee calls for the adoption of Chalabi's plan to recover Iraq's money
18th September, 2021
Saturday, the Parliamentary Economy Committee called for the adoption of Chalabi's plan to recover Iraq's money smuggled abroad.
Committee member Nada Shaker Jawdat said, in a statement followed by (Al-Oula News), that "recovering the looted and smuggled Iraqi funds abroad is a strategic necessity, but it is difficult to recover those funds by holding a conference organized in the last weeks of the government's life, especially since corruption is still eroding institutions from within.
He added that "the late politician Ahmed Chalabi revealed, many years ago, the joints of Iraqi money smuggling in numbers and ways to recover it, and what are the solutions offered," noting that "the government is unable to combat corruption or arrest its big heads in the country."
Jawdat indicated that, "Tackling corruption requires real disclosure and decisiveness in decisions, and that the Prime Minister seeks to open a dialogue with those accused of wasting public money in order to push them to accept the terms of returning the money they took to the state treasury."
And a member of the Parliamentary Economy Committee called for "removing the control of corruption whales from government institutions in order to contribute to real construction through planning that contributes to meeting the requirements of the people in all governorates by providing services and creating economic recovery." LINK
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Samson: A deputy calls for the formation of a court specialized in holding money smugglers out of Iraq to account
19th September, 2021
Today, Sunday, Member of Parliament, Nada Shaker, called on the government to form a court specialized in holding people involved in smuggling Iraqi money to account, similar to the results of the conference for the recovery of looted funds in Baghdad.
Shaker said, in a statement followed by (Al-Oula News), that "the attendance and results of the conference that was held in Baghdad a few days ago regarding the recovery of Iraqi funds smuggled abroad, were good, but we hope that what was agreed upon will be activated."
Shaker added, "Recovering the funds requires international and regional efforts to help Iraq recover its smuggled money, and everyone must realize the seriousness of the scourge of corruption in the country."
Shaker stressed, “the necessity of unifying legislation and agreements between Iraq and the countries that attended the conference in order to reach tangible results,” calling for “the formation of a court specialized in holding money smugglers accountable, which is not linked to a specific party and has absolute powers of research, investigation and accountability.”
Last Wednesday, the capital, Baghdad, hosted the International Conference for the Recovery of Stolen Funds, which was held under the auspices of Prime Minister Mustafa Al-Kazemi, with the participation of the President of the Arab League Ahmed Aboul Gheit, a number of justice ministers, heads of judicial councils and regulatory bodies, as well as a number of representatives of associations, organizations, and legal figures. And an Arab academic and media outlet related to the issue of anti-corruption. LINK
Samson: Expose hundreds of corruption cases in Kurdistan
19th September, 2021
The Integrity Commission in the Kurdistan Region counted, on Sunday, the number of corruption cases in the region, while noting that among these cases about 700 cases are under investigation and 100 other cases are under trial.
The head of the commission, Ahmed Anwar, said, according to the official agency, that "the commission has annual reports, and in the sixth month of the current year it submitted its semi-annual report, in addition to carrying out its duties according to its existing capabilities," noting that "the commission has so far investigated hundreds of cases, and there are some Between 600-700 corruption cases are under investigation and under the supervision of investigative judges delegated by the Kurdistan Regional Judicial Council.
Anwar added, "Corruption still poses a great danger in Iraq and the Kurdistan region, and we have good coordination with the Federal Integrity Commission and in all fields," explaining, "The region is part of the federal government, and money recovery will be through Integrity and the Federal Ministry of Foreign Affairs and any claims to recover money." It will be through official channels.
He pointed out that "corruption exists among some administrative officials and may be affiliated with a particular party," stressing that "the authority works to monitor the public sector from the head of the department to the general managers." He pointed out that "there are at all levels accused of corruption," revealing that "the Integrity Commission in the region now has 100 cases under trial."
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Samson: The Iraqi market is trading 40 shares worth 58 billion dinars in a week
19th September, 2021
The Iraqi Stock Exchange announced today, Sunday, that 40 billion shares were traded, with a financial value of more than 58 billion dinars, during the past week.
The market said in a report seen by Shafak News Agency, "The number of companies whose shares were traded during the past week amounted to 46 joint-stock companies, while the shares of 37 companies were not traded due to the lack of convergence of purchase orders prices with sales orders, while the number of suspended companies reached 20 companies for not providing disclosure out of 103 companies listed on the market.
He added that "the number of traded shares amounted to 40 billion and 148 million and 501 thousand shares, a decrease of 26.69% compared to the previous session, with a financial value of 58 billion and 217 million and 766 thousand dinars, an increase of 278.82% compared to the previous session through the implementation of 1953 deals."
He pointed out that "ISX60 traded price index closed at 598.82 points, recording a decrease of 0.94% from its closing in the previous session." He continued, "The number of shares purchased from non-Iraqi investors last week amounted to 211 million shares, with a financial value of 191 million dinars, through the implementation of 53 deals, while the number of shares sold from non-Iraqi investors reached 150 million shares, with a financial value of 137 million dinars, through the implementation of 44 Deal".
It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. LINK
KTFA Friday Night CC "Until We Meet Again" 9-17-2021
.KTFA
Friday Night KTFA CC
9-17-21……..UNTIL WE MEET AGAIN……
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
KTFA
Friday Night KTFA CC
9-17-21……..UNTIL WE MEET AGAIN……
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
Frank26: HE GETS IT....... DO YOU FAMILY?"...........F26
Economist: compensation for the loss of cash reserves must be met with a decrease in the dollar
16th September, 2021
Thursday, economic expert Ihsan Al-Kinani stressed the need to re-reduce the dollar exchange rate, after compensating for the loss of the central bank’s cash reserves by raising the dollar exchange rate in the local market, in addition to the rise in oil prices globally, which contributed to restoring the cash reserve threshold of 60 billion dollars.
Al-Kinani said, "The government no longer has any justification to continue to raise the value of the dollar against the dinar, at a time when it receives most of the oil imports in the global US currency."
He added, "The central bank's reserves returned to their normal number before the financial crisis that afflicted the country last year, which prompted Iraq to borrow, as the bank's reserves reached the threshold of 60 billion dollars, which is the figure recorded by Iraq before the financial crisis occurred."
Al-Kinani indicated, "The government's continuation of the current approach in its economic policy will bring it great profits and will raise the cash reserve by 23 percent of its current value, due to the high exchange rate of the dollar against the dinar by this percentage, but the great harm will befall the citizen, as the purchasing power will decrease and the poverty rate will increase." Which will have catastrophic repercussions on both the short and long term.” LINK
Iobey777: Read Slowly...comprehend...they are talking about the need to revalue their dinar!!
Some "Thursday News" Posted by Samson at KTFA 9-16-2021
.KTFA:
Samson: Oil prices rise as US inventories fall further
16th September, 2021
Oil prices jumped on Thursday, extending their strong gains the previous day, after a larger-than-expected decline in crude oil inventories in the United States, the world's largest oil consumer, while Brent rose
Brent crude rose 18 cents, or 0.2 percent, to $75.64 a barrel by 05:20 GMT, after settling at a 2.5 percent gain the previous day. US West Texas Intermediate crude rose 18 cents, or 0.3 percent, to $ 72.79, after settling up 3.1 percent on Wednesday
KTFA:
Samson: Oil prices rise as US inventories fall further
16th September, 2021
Oil prices jumped on Thursday, extending their strong gains the previous day, after a larger-than-expected decline in crude oil inventories in the United States, the world's largest oil consumer, while Brent rose
Brent crude rose 18 cents, or 0.2 percent, to $75.64 a barrel by 05:20 GMT, after settling at a 2.5 percent gain the previous day. US West Texas Intermediate crude rose 18 cents, or 0.3 percent, to $ 72.79, after settling up 3.1 percent on Wednesday
US crude and fuel stocks fell sharply last week, the Energy Information Administration said on Wednesday, as US Gulf region refineries and offshore oil facilities continue to recover from Hurricane Ida
The Energy Information Administration said crude stocks fell by 6.4 million barrels in the week to September 10 to 417.4 million barrels
The storm cut global supply for the first time in five months, but the market is set to start approaching balance in October as the Organization of the Petroleum Exporting Countries (OPEC) and allies such as Russia, a group called OPEC+, implement plans to increase supply LINK
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Samson: Iraq reveals the recovery of $38 million "smuggled" from three countries
16th September, 2021
The Deputy Head of the Iraq Funds Recovery Fund, Moataz Al-Abbasi, revealed on Thursday that about $38 million in Iraqi funds were recovered abroad.
The Iraqi capital, Baghdad, is hosting the work of the second day of the International Conference for the Recovery of Stolen Funds and Smuggled Assets, under the auspices of Prime Minister Mustafa Al-Kazemi, with wide international participation.
Al-Abassi told Shafaq News Agency, "The fund owns files related to individuals and not to a state, and there is the United Nations Convention against Corruption, and the Arab World Anti-Corruption Convention, both of which include texts and a mechanism for how to obtain and recover the looted funds and return them to the state treasury."
He added that "during the period of its establishment, the fund was able to recover funds from some countries, including 65 thousand dollars from Jordan, 25 million and 942 thousand dollars from Germany, while 11 million and 915 thousand euros were recovered from Spain." LINK
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Samson: Egypt: We will not hesitate to help Iraq recover its looted money
16th September, 2021
The Egyptian Minister of Justice, Omar Marawan, confirmed that his country's government will not hesitate to help Iraq by recovering its looted money if it is in Egypt
"The money recovery conference that was held (yesterday) in Baghdad is important to discuss an issue that concerns all peoples and Arab countries, which is the issue of recovering looted funds, that is, the people's money smuggled abroad," Marwan said in a statement reported by Rudaw and seen by "Al-Iqtisad News. He added that the importance of the conference comes from the fact that it "attempts to find mechanisms that activate the joint Arab cooperation, so that it returns the smuggled looted funds and returns those involved with these funds so that they may be tried in a fair trial for the crimes they committed against their peoples and countries
The Egyptian Minister of Justice stressed that any "looted money found in" Egypt, the government, will not hesitate to assist the brotherly State of Iraq in recovering their money, and we will not delay in helping it
Yesterday, Wednesday, the International Conference for the Recovery of Stolen Funds was launched in the Iraqi capital, Baghdad. At the opening of the conference, Minister of Justice Salar Abdul Sattar Muhammad said, "The conference for the recovery of looted funds aims to confront the theft of public money," adding that "there is weakness in international efforts regarding the recovery of looted funds
According to the Minister of Justice, just as Iraq succeeded in eliminating terrorism, "we have to confront corruption," stressing "the need to recover the looted funds through international agreements.
Muhammad pointed out that "our meeting today is an important message that recovering the looted funds is of interest to the state," revealing the government's determination to recover all of Iraq's money from abroad
In turn, the Iraqi Prime Minister, Mustafa Al-Kazemi, described corruption and terrorism as "two sides of the same coin," noting that corruption was present when society was plunged into sectarian fighting. The Prime Minister considered that "the path to a rational state begins with frankness with our people about the diseases that led to the decline of a great country like Iraq," adding that "we set from the beginning our primary goal in fighting corruption
According to Al-Kazemi, he formed a "special anti-corruption committee that carried out its duty with the Integrity Commission, the judicial authorities, and the Ministry of Justice and Financial Control," stressing that "the committee revealed, within one year, corruption files that were not revealed for 17 years, and recovered money looted from abroad. According to Al-Kazemi, the committee was subjected to "attacks and false accusations, the aim of which was to frustrate it and thwart its work," stressing that "there is no place for frustration and retreat
For his part, the Secretary-General of the League of Arab States, Ahmed Aboul Gheit, considered the conference to recover looted funds an "important opportunity to combat corruption. According to Aboul Gheit, "the most important achievement achieved is an Arab anti-corruption agreement in 2010," adding that the Arab anti-corruption agreement was formed in support of the United Nations convention. He pointed out that "confronting corruption is very complex and requires continuous cooperation
To that, the head of the Integrity Commission and the head of the looted funds recovery fund, Alaa Jawad, considered the conference an "important step to recover Iraq's money," expressing his hope that the conference would lead to "recommendations to return the looted funds. Jawad accused that "some countries are incubators and stand an obstacle in returning the looted funds," adding that "Iraq is still suffering from the lack of cooperation of countries in recovering the money," adding that "dual citizenship is resorted to by some officials with investment and corruption LINK
Samson: The Central Bank clarifies the mechanism for granting loans and financing projects, and its procedures to prevent the circulation of counterfeit currency
16th September, 2021
Thursday, The Central Bank of Iraq clarified the mechanism for financing project loans, pointing to the development of measures to prevent the circulation of counterfeit currency.
An authorized source in the bank said, according to what was reported by the official newspaper, that "the competent committee is setting up a mechanism for granting loans, directing the lending policy to support small, medium and large projects in a way that serves the goals of economic development in Iraq, and approving development projects submitted by banks that aim to (reduce import of imports). goods and products, providing a greater number of job opportunities for young people, and establishing a developed local industry).
He added, "Our policy supports and encourages the establishment of industrial and agricultural cities to diversify sources of income in the Iraqi economy, and works to simplify the procedures for approving the establishment of projects subject to the approval of the relevant government agencies."
He continued: "This committee is also working to review the lending mechanisms and guidance on modifying them according to the requirements of the economic and financial conditions that the Iraqi economy is going through, and the committee has the power to host representatives from the private sector to participate in its meetings and form technical teams to discuss the implementation of loans." Regarding the priorities of granting the loan for strategic projects and whether loans are limited to projects with an investment dimension.
Regarding the measures of the Central Bank of Iraq to prevent the circulation of counterfeit currency and to coordinate with the security authorities to monitor the promoters of counterfeit currency, the source said: “The Issuance and Treasury Department in the Central Bank of Iraq is working through the (Currency Examination and Counterfeiting Monitoring) section to intensify cooperation and coordination with the security and judicial authorities to limit Counterfeiting operations, monitoring everything related to them through the media, following up on the news of the relevant authorities and categorizing them in a database to benefit from when needed.
And he indicated that "the bank is working on preparing statistics and reports on the counterfeit papers received by this bank and analyzing them to identify the target groups and the places where counterfeiting operations are likely to occur and the parties that practice them and provide the competent authorities with information." The security signs of real papers and how to detect forgery of papers in cooperation with the security and judicial authorities within a program prepared for this purpose. LINK
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Samson: The Central Bank of Iraq and Renewable Energy Support in Iraq
16th September, 2021
The Central Bank of Iraq organized a workshop to support the use of renewable energy sources in Iraq.
The workshop discussed the opportunities for using renewable energy generation methods and the contribution of the Central Bank's initiative to finance it in a way that contributes to strengthening the national economy.
In a speech during the workshop, the Deputy Governor of the Central Bank stressed that this bank is committed to enriching and supporting Iraq's economy by adopting initiatives that contribute to reducing waste in state funds and leaving dependence on traditional sources in generating electricity.
The deputy governor added that banks and insurance companies should actively contribute to providing the best offers to citizens in the field of energy, with their efforts to educate consumers about the preference of renewable energy in terms of costs, and the preservation of the environment.
The head of the Central Agency for Standardization and Quality Control and the Director of the Baghdad Center for Renewable Energy and Sustainability presented their papers on this important subject. The workshop was attended by representatives of banks, insurance companies and a number of investors and those interested in this matter.
It is noteworthy that the Central Bank launched an initiative to finance the acquisition of energy production units from renewable sources in cooperation with the Ministry of Environment and the Higher Committee for Lending through the banking sector. LINK
Monday Night KTFA CC: "I'll See You On the other Side" 9-13-2021
.KTFA.
Frank26: KTFA FAMILY ............... THERE IS A 90 % CHANCE THIS IS MY LAST WEEK OF UB2B'S WITH YOU .............. I TOLD YOU THIS DAY WAS COMING ........................
KTFA Monday Night CC
9-13-21….I’LL SEE YOU ON THE OTHER SIDE
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
KTFA.
Frank26: KTFA FAMILY ............... THERE IS A 90 % CHANCE THIS IS MY LAST WEEK OF UB2B'S WITH YOU .............. I TOLD YOU THIS DAY WAS COMING ........................
KTFA Monday Night CC
9-13-21….I’LL SEE YOU ON THE OTHER SIDE
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
KTFA Members "Some Monday News" 9-13-2021
.KTFA:
Clare: August 05, 2021
Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1
For release at 4:30 p.m. EDT
Following its stress test earlier this year, the Federal Reserve Board on Thursday announced the individual capital requirements for all large banks, effective on October 1. Those capital requirements ensure that the large banks tested will hold roughly $1 trillion in high-quality capital—enough to survive a severe recession and still be able to lend to households and businesses.
KTFA:
Clare: August 05, 2021
Federal Reserve Board announces the individual capital requirements for all large banks, effective on October 1
For release at 4:30 p.m. EDT
Following its stress test earlier this year, the Federal Reserve Board on Thursday announced the individual capital requirements for all large banks, effective on October 1. Those capital requirements ensure that the large banks tested will hold roughly $1 trillion in high-quality capital—enough to survive a severe recession and still be able to lend to households and businesses.
Large bank capital requirements are in part determined by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The below table shows the total common equity tier 1, or CET1, capital requirements for each bank, which is made up of several components, including:
Minimum capital requirement, which is the same for each firm and is 4.5 percent;
The stress capital buffer, or SCB, requirement, which is determined from the stress test results, and is at least 2.5 percent; and
If applicable, a capital surcharge for global systemically important banks, or G-SIBs, which is at least 1.0 percent.
The Board also affirmed the stress test results for one bank that requested reconsideration, HSBC North America Holdings Inc. The reconsideration process involved an independent group—separate from the stress testing group—that analyzed and evaluated the results.
While affirming HSBC's stress test results for this cycle, the Board also directed the staff to conduct a closer examination of issues raised in the reconsideration process to inform continuing improvements in its stress testing methodology for next year's stress tests.
https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210805a.htm
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Samson: America supports Iraq with $40 million to preserve its national heritage
13th September, 2021
On Monday, the US Embassy in Baghdad announced that it will support Iraq with $40 million to preserve Iraq's national heritage
The embassy said, in a statement seen by "Al-Iqtisad News", that "Iraq occupies a prominent position in the history of the world as it is the origin of writing, the wheel, and countless other inventions
"The US government has allocated more than $40 million to help preserve Iraq's precious national and world heritage by restoring archaeological sites across the country," she added LINK
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Samson: The international coalition hands over military vehicles to Iraq
13th September, 2021
The US-led international coalition in Iraq announced on Monday the delivery of 20 Humvee vehicles to Iraqi forces.
"The international coalition, through the CTEF program, funded by the United States of America, delivered 20 Humvees," coalition spokesman Wayne Maroto said in a statement received by Mawazine News.
He added, "This came for the Internal Security Forces to take the lead in the combat role against ISIS."
Billuke: And how many humvees were left in Afghanistan?
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Samson: Oil prices rise as US supply concerns take hold
13th September, 2021
Oil prices rose on Monday, amid concerns about US production in the wake of damage from Hurricane Ida, which supported the market, along with expectations of higher demand
Brent crude rose 33 cents, or 0.5%, to $ 73.25 a barrel, and US West Texas Intermediate crude rose 32 cents, or 0.5%, to $ 70.04 at 04:36 GMT, both markets were at their highest levels since September 3, earlier in the session
About three-quarters of offshore oil production in the US Gulf of Mexico, or about 1.4 million barrels per day, has been shut down since late August, roughly equal to that of OPEC member Nigeria while US refineries returned faster than oil production after Hurricane Ida, a reversal of the recovery from the last storm
Besides the impact of Ida, market attention this week will focus on potential revisions to oil demand forecasts from the Organization of Petroleum Operating Countries (OPEC) and the International Energy Agency (IEA) as coronavirus cases continue to rise
Markets still need clarification on the effects of the virus beyond the very near term and until we get there, it looks like most assets, including oil, may continue to drift sideways
Supply risks also remain from China's planned release of oil from strategic reserves, while hopes for fresh talks on a broader nuclear deal between Iran and the West were raised after the United Nations' International Atomic Energy Agency reached an agreement with Iran on Sunday over a maintenance delay. Monitoring equipment to continue to operate LINK
Samson: Almost zero credit to dozens of banks, and Iraqis deal in cash to settle their transactions
13th September, 2021
Dozens of government and private banks are active in Iraq, and their activities vary between commercial, Islamic, agricultural and industrial, but the credit of these banks is almost non-existent, which made many Iraqis refrain from dealing with these banks and rely on cash to settle their transactions.
Bank credit is what banks do within their core business by lending money or granting facilities (financing assets, goods and others) between two parties, one of whom is the bank and the other party is called the borrower customer, and this contract results in a profit margin for the bank (interest, return on investment) or (return on investment) Murabaha, Istisna’a, or commission in Islamic banks) in return for paying this amount that was granted to the customer over multiple agreed periods of time according to the terms of the contract.
Troubled banks
The advisor of the Iraqi Banks Association, Samir Al-Nusairi, said in an interview with Shafaq News Agency; That "there are 72 private banks in Iraq that exercise credit at varying rates," rejecting "what is said that they do not exercise credit."
Al-Nusairi adds; "There are about 50 banks in Iraq that, during the past and current year, granted loans through the initiative of the Central Bank for small and large projects, up to 10,000 projects for 18,000 people, with a financial value of more than 700 billion dinars."
Al-Nusairi acknowledges, “the existence of some troubled banks in Iraq that suffer from a lack of liquidity and have not adhered to the instructions of the Central Bank and are reluctant to return people’s deposits.” ".
The risk of granting credit
The international expert and advisor to Al-Janoub Al-Ahly Bank, Hisham Al-Shamali, said in an interview with Shafak News Agency; "Private banks practice credit like other government banks, but they hesitate because of the danger of granting credit and the reluctance of some people to pay what they owe of money, which leads to resorting to the courts, which takes many years," noting that "granting loans and exercising credit has nothing to do with the bank's capital."
He adds that "the person's reluctance to pay will certainly affect the bank's liquidity," adding at the same time that "the localization of salaries for state employees enabled banks to grant loans to this category because the bank will guarantee the return of loans by deducting part of the employee's domicile salary."
Al-Shamali acknowledges that "this cannot be generalized to all citizens who do not work in the government sector, because there are not enough guarantees for payment without delay." Al-Shamali denied the existence of banks that subsist on the Central Bank auction, indicating that "the bank auction is one of the important tools that meet people's needs from the importer, and that you cannot see imported foodstuffs unless there is an auction of currency."
Banks and central bank money
The professor of economics at the Iraqi University, Abdul Rahman Al-Mashhadani, said in an interview with Shafaq News Agency; "The banks that were established in Iraq are with small capitals amounting to 250 billion dinars, or about 200 million dollars, and now it is equal to 175 million dollars after raising the price of the dollar, and therefore these funds do not allow the construction of productive projects."
Al-Mashhadani explains; “These banks rely on and rely on the Central Bank in two matters, the first of which is entering into the currency auction, and it achieves stable and fixed profits for it and does not need to take any risk by obtaining an amount of five to eight million or more and selling it to traders at the market price regardless of providing statements, and the second matter is based on the Central Bank regarding the initiatives launched by the latter with regard to projects and housing, in which banks receive significant benefits through these initiatives, indicating that Iraqi banks work and operate with the funds of the Central Bank.
Al-Mashhadani asserts; "What Iraqi banks need is mergers, and we do not need all these banks, which have reached more than 70 banks," pointing out that "comparing them with the banks of Arab countries, our banks are just shops, nothing but what we noticed when the Kuwaiti Bank, which has capital, was established. $100 billion in trying to partner with one of the private banks in Iraq, which does not have more than $150 million."
And the Central Bank issued a study in 2016, which showed that “the ratio of investments to total assets in commercial banks is 8%,” noting that “some of these private commercial banks do not have any investments.”
Government bank control
Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, said in an interview with Shafaq News Agency that "the weakness of credit for private banks is due to the control of government banks in banking activity, which constitutes 85%, in contrast, the share of private banks is 15%."
Saleh points out that "banking reform must start with government banks first, because of their great weight, because they acquire government deposits and public deposits, about 65%," noting that "the public is deposited in government banks due to their greater spread, history and confidence in government banks more, while they were exposed to some private banks have run into problems and the public's deposits are gone."
Saleh explained; "The capital of private banks is more than that of government banks, but private banks do not expand in credits under the pretext of collecting these credits is weak, and they argue that the state competes with them because government banks are supported by fluid cash flow."
Coin drain
In an interview with Shafaq News Agency, a member of the Parliamentary Economic and Investment Committee Nada Shaker Jawdat believes that "some private banks have turned into places of depletion of hard currency through currency auctions," stressing that "there is no real credit for these banks in order to achieve the maximum benefit from banking work in construction, investment and reconstruction." As is the case in most countries of the world.
Jawdat adds that "many private banks are moving away from credit work because of the poor return from it, and they operate with low capital and few deposits, and they get their profits from the Central Bank of Iraq auction, which distances them from their banking competence."
Dealers: we deal with cash
The merchant, Muhammad Al-Hasani, said in an interview with Shafak News Agency; "The merchant has no confidence in the banks as a result of their failure to preserve depositors' money, which often declare their bankruptcy and depositors' money goes unheeded, as well as not benefiting from them commercially in obtaining loans that are almost very expensive compared to the profits that the merchant earns from them."
Al-Hasani added; "Most of the merchants deal in cash in settling their commercial transactions and clearing their debts away from the banks," noting at the same time that "transfers to and from abroad are done through exchange offices."
Al-Hasani pointed out that "the process of resettling employee salaries is also a failure in Iraq. As soon as the salary is transferred to the employee's MasterCard, the latter immediately withdraws all the salary, which indicates the citizen's lack of confidence in government and private banks."
Shafak News Agency contacted the Central Bank several times to inquire about it and explain the reasons for this, but it did not answer the calls.
A World Bank report indicates that 89% of adults in Iraq do not have bank accounts, indicating that many individuals refrain from dealing with banks due to citizens' distrust of banks.
In its annual financial stability report for 2016, the bank said, "The World Bank estimates for 2014 indicated that the number of deposit accounts for Iraqis reached 11%, meaning that 89% of these adults do not have bank accounts.
It is noteworthy that the administrative routine with banks in opening savings accounts led to the reluctance of most individuals to open these accounts with banks and turned to the process of hoarding in the role. LINK
MilitiMan Sunday PM "Exchange Rate is About to be Spung!" 9=12=2021
.KTFA:
Samson: The Central Bank participates in the first conference to activate the role of the business incubator
12th September, 2021
The Director General of the Central Bank of Iraq - Basra Branch, participated in the first conference on activating the role of a business incubator to activate entrepreneurship in community service, Thursday, 9/9/2021, organized by the University of Basra in partnership with Siraj Al Marefa Company for Training and Development and under the auspices of the United Nations World Food Program.
KTFA:
Samson: The Central Bank participates in the first conference to activate the role of the business incubator
12th September, 2021
The Director General of the Central Bank of Iraq - Basra Branch, participated in the first conference on activating the role of a business incubator to activate entrepreneurship in community service, Thursday, 9/9/2021, organized by the University of Basra in partnership with Siraj Al Marefa Company for Training and Development and under the auspices of the United Nations World Food Program.
The Director General of the Central Bank of Iraq, Basra Branch, Dr. Qasim Raheef, in a speech during the conference, indicated the great role that the Central Bank plays in supporting medium and small projects to boost the economy in the country in general and Basra in particular. LINK
MilitiaMan: Here is another example of supporting evidence that going to a market economy is in full steam ahead..
Entrepreneurs will be the back bone of the private sector. Just as the investors that will be using the ISX in association with the NASDAQ providing access to the hard work and effort from the fruits of their labors!!
The re construction of a country is going to be massive and explosive going forward.. I suspect in the coming months Iraq will be on everyone’s radar and after seeing that many missed the boat the next best place to be is in the ISX!! Imo.. Exciting times are here!!
Telling us they are evaluating the pricing of oil in Dinar is off the charts and the entrepreneurs in the room above would probably know what’s coming!! They would from all the education out lately know the exchange rate is about to be sprung!! Imo - MM
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Samson: Sandoog to offer Order Fulfillment Service
7th September, 2021
Iraqi last-mile delivery service Sandoog has announced that it is releasing an upgraded platform to serve local and international e-commerce enterprises looking to reach customers in Iraq at scale.
The new service now offers order-fulfillment capabilities, which means stock can be stored at its facilities and delivered to customers nationwide.
And with the introduction of an Open API, e-commerce businesses can integrate their systems with Sandoog's new platform.
Co-Founder and CMO, Mustafa Al Obaidi, told Iraq Business News:
"We believe this is a huge milestone for us and Iraq. It allows businesses to enter and thrive in Iraq without needing to have manpower in Iraq." LINK
MilitiaMan: Let the internationalism begin.. Let the Citizens get the work they need and with that, the purchasing power to go with it.. imo ~ MM
MilitiaMan Saturday Night "Depegged From the Petro-dollar?" 9-11-2021
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Adviser to the Prime Minister: The 2022 budget will be distinguished by something important, and we do not rule out surprises
08/29/2021 11:36:08
The Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, revealed an "important matter" in the draft financial budget bill for 2022.
Saleh told {Euphrates News}: "This budget will be characterized by greater revenues and less deficit if the spending ceilings remain less than the deficit, as the financial obligations will then be lower."
He added, "It is the duties of the current government as long as there is plenty of time to prepare the budget, even if the new parliament wants to make observations or make changes to it." Saleh pointed out, "Circumstances are changing, and there may appear surprises, as it relied on an oil price of 50 dollars per barrel, according to what was announced by the Ministry of Finance."
KTFA:
Adviser to the Prime Minister: The 2022 budget will be distinguished by something important, and we do not rule out surprises
08/29/2021 11:36:08
The Prime Minister's Advisor for Financial and Economic Affairs, Mazhar Muhammad Salih, revealed an "important matter" in the draft financial budget bill for 2022.
Saleh told {Euphrates News}: "This budget will be characterized by greater revenues and less deficit if the spending ceilings remain less than the deficit, as the financial obligations will then be lower."
He added, "It is the duties of the current government as long as there is plenty of time to prepare the budget, even if the new parliament wants to make observations or make changes to it." Saleh pointed out, "Circumstances are changing, and there may appear surprises, as it relied on an oil price of 50 dollars per barrel, according to what was announced by the Ministry of Finance."
And Finance Minister Ali Allawi announced last Thursday (08/26/2021) the completion of the preparation of the draft financial budget law for 2022, and that it will be presented within 3 weeks to the Council of Ministers. And Allawi indicated in a press statement that "the price of a barrel of oil in the 2022 budget will be $50, or 65% of the total. The state budget goes to salaries, and OPEC may add 450,000 barrels to Iraq's oil production." And he indicated, "There are about 6.5 million citizens who receive financial dues from the state."
He pointed out, "The state's oil resources are eroding due to the large obligations of salaries and retirement, and that the improvement in oil prices does not solve the financial distress quickly because of internal and external debts, and the state's resources in Iraq are used incorrectly." LINK
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Finance Minister: We have started reform, and we need everyone's concerted efforts.
Sunday 29 August 2021 Baghdad: Hussein Thaghb
Finance Minister Ali Abdul-Amir Allawi stressed that the country's situation is described as sensitive and requires concerted efforts by all, in order to achieve serious reforms that distance the country from potential dangers, pointing out that cooperation is most intense with the Central Bank of Iraq with the aim of building a clear financial map. Allawi said during a meeting with a group of journalists: The budget for the year 2022 will be completed within 3-4 weeks and presented to the Council of Ministers, expecting to submit it to the next parliament.
And it will depend on the price per barrel of oil, $50, and it will be based on the current production level. Regarding the exchange rate and the decision to devalue the national currency, Allawi stated that {the exchange rate represents the external face of the economy, and the high exchange rate brings benefit to many economic sectors}, noting that {the price when it affects the economy negatively and encourages the transfer and transfer of resources. On the outside, it is necessary to reconsider and this is what happened.”
He said, "The decision to devalue the currency came in order to create a competitive economy that encourages the work environment in the country," noting that "during the past six months, we have indicated an increase in demand for investment licenses in the industrial sector.”
Allawi pointed out that "the increase in prices in local markets, and the percentage that exceeds the rate of devaluation of the currency, came due to the increase witnessed by global markets, which coincided with the decision to reduce and the Corona pandemic, which had negative effects on the global economy as a whole." He stressed, “We are moving towards offering treasury bonds for trading in the Iraqi Stock Exchange, and we expect a great turnout for them in the absence of ideal investment opportunities in the country,” noting that “Iraq’s revenues are large, but the obligations are also wide, and there is an inflation in the number of employees that coincides with a lack of productivity employee.”
Frank26: Finance Minister: We have started reform, and we need everyone's concerted efforts (CITIZENS GET INTO THE BANKS...F26)
He said: {Reform of government performance and the economic system is inevitable, and far from it we cannot create an incubating environment for the economy}, pointing out that we have begun a real reform of government institutions, banks, customs and taxes, in order to manage Economy".
LINK
MilitiaMan: We have the PM Kahdimi on the 22nd of August telling the world he has a 2021 - 2023 plan with 33 pages of information on the White Papers, digital transformation, etc..
Then days later on the 26th of August we see his advisor and the Finance Minister telling us the 2022 budget will be completed and and presented to the Council of Ministers within 3 weeks and then again suggesting it would be within 3-4 weeks.
Regardless they say the reform of the government and economic system is inevitable.
We understand that 3 weeks from the 26th of August gets us out to the 16th of September or within that time frame.
The Council of Ministers tend to meet on Tuesdays. That would be the 14th of this month. But, we see there was an extraordinary session today. Interestingly enough, they use a few terms that caught my eye; i.e., highest levels of financing, insurance and support.
All seem to be in line with what is to be expected for conducive manner for elections and for the aspirations of the people. Well, highest levels of finance seems a tad out of place, but, is it?
The citizens all want purchase power and support not only in respect to their finances, but also fair and transparent elections.
Now, the other thing that is seemly odd, is they mention insurance. Not assurance they will be fair. The use insurance. Well the highest levels of finance include insurance, as in insurance on their money. Just like we have in our country.
Lets think about these items in respect to timing and amounts related to finance. If the extraordinary meeting today was about the citizens aspirations, the highest levels of finance and support, then this small sentence in the scheme of things appears at first glance a minor issue, however, that may very well be far from being insignificant!
Lets take a look at what they did yesterday in respect to financial matters.
That may have a serious impact in respect to the highest level of finance, insurance and support. To get the aspirations of the citizens satisfied, they want purchase power.
Well, it looks like they were told they have de-pegged from the US Petrodollar and are using the Dinar evaluating the price of oil.
It suggests with simple math that 45 Dinar to a barrel of oil is fairly simple to figure out. By doing so one can deduce there is purchase power in what the calculation shows.
Thereby, supporting the high level of finance, the need for insurance and even support in the on going educational processes that goes with that new purchase power and new financial change, not to mention the electoral process, as well.
The electoral process is expensive. The budget has what is needed for all that within it. Thus, the need for a change to precede elections. Therefore, we can deduce, the new exchange rate will need to be sorted if it has not already as of today, as the PM says they fulfilled the requirements.
If not in todays meeting, then it would likely be sorted this next Tuesday when the COM normally meets..
What I see is regardless they have the digital transformation openly discussed on the 22nd of August, and with the above, the next move is as they say is inevitable. imo ~ MM
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Al-Kazemi: We have fulfilled the requirements of the electoral process, and it is the only solution to Iraq's problems"
"“We are holding the extraordinary session today, due to the proximity of the parliamentary elections that will take place on their scheduled date on 10/10, as well as the approach of the fortieth visit to the martyrdom of Imam Hussein (peace be upon him).” " He added, "We have provided all the needs of the Electoral Commission at the highest levels of financing, insurance and support, to ensure that the polls are conducted in a manner that achieves the aspirations of the people."
LINK
"It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45,
using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar. Iraq against the dollar."
https://oilprice.com/oil-price-charts/45#
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Brent Crude
$72.92
+1.47
+2.06%
Basra Light
$73.23
-0.64
-0.88%
IQD 45 per barrel..
"Some Saturday News" Posted by Samson 9-11-2021
.KTFA:
Samson: Sovereign Fund
7th September, 2021
Oil is a commodity subject to stagnation at any moment, noting that the global market witnessed severe price collapses, during periods, not far apart, in 2008, 2014, and 2020, and it is also subject to depletion, or dispensing with it when the world discovers sources of energy, less costly. and more efficient, and such signs have begun to loom strongly on the horizon, and in light of these oil repercussions, the lives of future generations in the oil-producing countries seem threatened, because the current generations will nibble all the available wealth, above and below the earth
Hence the importance and necessity of setting controls that guarantee the rights of the successors, and this matter falls on the shoulders of the current governments, and those before them and those who come after them, and on this basis came the idea of establishing the Generations Fund in Iraq. It is true that the step came too late, as it was supposed to be established.
KTFA:
Samson: Sovereign Fund
7th September, 2021
Oil is a commodity subject to stagnation at any moment, noting that the global market witnessed severe price collapses, during periods, not far apart, in 2008, 2014, and 2020, and it is also subject to depletion, or dispensing with it when the world discovers sources of energy, less costly. and more efficient, and such signs have begun to loom strongly on the horizon, and in light of these oil repercussions, the lives of future generations in the oil-producing countries seem threatened, because the current generations will nibble all the available wealth, above and below the earth
Hence the importance and necessity of setting controls that guarantee the rights of the successors, and this matter falls on the shoulders of the current governments, and those before them and those who come after them, and on this basis came the idea of establishing the Generations Fund in Iraq. It is true that the step came too late, as it was supposed to be established.
Such a fund has existed since the early years of the emergence of oil, but to come late is better than never, after many countries preceded us in establishing effective sovereign funds, including Kuwait, which is the first country in the world in this field, and there are the UAE, Saudi Arabia and Qatar And many other countries, and it is estimated that the amount of money invested in sovereign funds around the world amounts to (3) trillion dollars, mostly from oil surpluses
Therefore, I think that the remaining three decades of the oil life, stagnating or depleting, may be appropriate to finance the Generations Fund recently announced by the government, through the available financial surpluses, by taking advantage of the price difference between the budget and the real selling price, provided that Reducing the size of the financial deficit in the budget to its lowest level, and if the deficit remains at this level, talking about financing the Fund remains a dream, and reducing the deficit is also linked to the necessity of reducing the ceilings of the massive operating and consumer expenditures that account for three quarters of the state’s public spending
In the event of the inability to reduce the volume of operational spending, due to the massive inflation in the functional body of the state, and the presence of wide doors, in which the exchange cannot be stopped, the matter requires resorting to activating other development sectors in order to reduce dependence on oil, and then the possibility of transferring part of the revenues The oil sector will be transferred to the Generations Fund, which must have an active role in the development process, through its strong contribution, in investing in various fields.
Second, maximizing the revenues of the Fund, to guarantee the rights of future generations, and thus achieving social justice. Such trends are of great importance to be included in the law establishing the Generations Fund, with an emphasis on the transparency of the Fund’s work, and knowledge of its outcomes and paths, its inputs and outputs LINK
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Samson: Sadiqoun reveals corruption worth 26 billion dollars: The government is developing the Jordanian economy
11th September, 2021
MP from the Al-Sadiquon Parliamentary Bloc, Hassan Salem, confirmed, on Saturday, that the cabinet is pressing towards developing the Jordanian economy at the expense of the people of the center and the south, revealing the existence of corruption estimated at more than 26 billion dollars.
Salem said, according to his bloc's media, that "the prime minister is pressing towards extending a pipeline from Basra to Aqaba to develop the Jordanian economy," noting that "millions of the Iraqi people who hold degrees are sleeping on the land to get a job."
He added, "Jordan is seeking to obtain Iraqi oil at a low price and then resell it again to Israel," noting that "the extension of a pipeline from Basra to the Jordanian Aqaba costs Iraq financial losses estimated at 26 billion dollars."
Salem had previously warned of a major conspiracy to plunder the wealth of the Iraqi people taking place between the prime minister's office and the Harlow Alliance, owned by a British person of Iraqi origin named Mazen Wajih. LINK
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Samson: Iraq signs an international anti-corruption agreement
11th September, 2021
The Integrity Commission announced, on Saturday, an agreement to sign a memorandum of understanding between the international and Iraqi academies to combat corruption.
The authority stated in a statement, "Within the framework of strengthening cooperation between anti-corruption academies, and seeking to conclude agreements and memoranda of cooperation between them in the field of training, development, knowledge transfer and skills acquisition, the Federal Integrity Commission President Judge (Alaa Jawad Al-Saadi) met with the Dean of the International Anti-Corruption Academy (Thomas) Stelzer) in the Austrian capital Vienna.
She added, "The meeting, which took place at the headquarters of the International Anti-Corruption Academy, during which it was agreed between the two sides to conclude a memorandum of understanding between the international and Iraqi anti-corruption academies, in order to cooperate in raising the capabilities of workers in the field of anti-corruption in investigation and auditing, and spreading a culture of integrity and transparency, and maintaining On public money, through training and education programs, knowledge transfer and research and studies in this field.
She pointed out, "The two parties also discussed ways to build bridges of cooperation between the two academies in the field of training and development, with a view to facilitating the implementation of the provisions of the International Convention against Corruption, especially what was stated in its chapter Chapter VI - Article (60) entitled Training and Technical Assistance, which provides for: “Each State Party shall, to the extent necessary, introduce, develop or improve training programs for its personnel responsible for preventing and combating corruption.”
And she continued, "The meeting included a discussion of the academic and training capabilities of the two academies and their human and material resources, while Judge Al-Saadi invited the Dean of the International Academy to visit Iraq, while the latter valued the efforts of the Iraqi Academy, after being briefed on its tasks and achievements, especially in the field of training, development and continuing education. He praised Iraq's leadership in the Middle East by establishing an anti-corruption academy after the international and Malaysian academies. LINK
Samson: Election observers in Iraq from fifty Arab and foreign countries
10th September, 2021
The Independent High Electoral Commission announced, on Friday, September 10, 2021, that the number of international observers has reached more than 500.
Member of the Electoral Commission's media, Imad Jamil Mohsen, said that there are 150 observers from the United Nations, from Arab and foreign countries, and from the European Union 70 observers, in addition to the role of the Arab League, which will have a major role in monitoring, in addition to the participation of 25 organizations specialized in electoral affairs. Each organization will send its own team.
He pointed out that the Iraqi embassies have invited 51 Arab and foreign embassies, and there are visits by the Board of Commissioners to the embassies of Arab and foreign countries, to send their teams to Iraq, stressing that the number of observers will reach 500 or 600 international observers.
In a separate context, he explained that there are violations that were monitored in several governorates, such as Sulaymaniyah, Basra and Karbala, for example, by placing advertising in a place not designated for it by the municipality or using state departments.
He added that the procedure against violating candidates is to send a warning to the person concerned, and if he does not comply within three days, we will issue a penalty and a fine for him, and sometimes up to prison, as there are some legal provisions that require imprisonment for a period of 6 months for violating candidates. He pointed out that the candidates so far have a high commitment and discipline to the electoral propaganda and the instructions of the Commission, stressing that no transgression against a candidate has been recorded so far. LINK
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Samson: An agreement resolves the procedures for implementing the economic city between Iraq and Jordan
9th September, 2021
The Director-General of the Industrial Cities Authority in the Ministry of Industry and Minerals, Hamid Awad Muhammad, told Al-Sabah newspaper, followed by "Eye of Iraq News": "An agreement has been reached to resolve the procedures for implementing the economic city between Iraq and Jordan within the boundary between them, and at a distance of 500 meters from their borders, and north of the outlet Trebil, located in Anbar Governorate
He added that "the city, which will have an area of four thousand and 800 dunams, with a width of 2000 meters and a length of six thousand meters, will be implemented under a joint administration, and will provide facilities for the industries of the two countries, and will provide 50 to 100 thousand job opportunities for the people of the two countries
And Muhammad indicated that "the economic city includes three main areas: the industrial city, the two free zones, and the logistical support, while the proposed area for the establishment of the area will be 400 acres inside and it is capable of expansion in the future, with the establishment of a similar city on the Jordanian side," noting that "it will be managed the city jointly after choosing a site for its establishment LINK
KTFA Wed. Night CC "All They Talk About Is The Exchange Rate!"
.KTFA
Wednesday Night CC
9-8-21….ALL THEY TALK ABOUT IS THE EXCHANGE RATE
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
KTFA
Wednesday Night CC
9-8-21….ALL THEY TALK ABOUT IS THE EXCHANGE RATE
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan 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
KTFA Monday Night CC "The Announcement of the Announcement" 9-6-2021
.KTFA
9-6-21…. THE ANNOUNCEMENT OF THE ANNOUNCEMENT
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan and Eddie in Iraq
Playback Number: 605-313-5163 PIN: 156996#
Frank26 : “The announcement of the announcement is the monetary reform and new exchange rate.
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
KTFA
9-6-21…. THE ANNOUNCEMENT OF THE ANNOUNCEMENT
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingtstick, Petra, MilitiaMan and Eddie in Iraq
Playback Number: 605-313-5163 PIN: 156996#
Frank26 : “The announcement of the announcement is the monetary reform and new exchange rate.
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