KTFA Wednesday Night CC " WELL…..THERE YOU GO" 7-26-2023

KTFA

Wednesday Night  Conference Call

Frank26…….7-26-23……WELL…..THERE YOU GO

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=SLuI6g7MtCw

KTFA Members "News and Views" Wednesday 7-26-2023

KTFA:

Clare:  After Baghdad .. Sulaymaniyah is a second station for the international financial center of Iraq

7/26/2023

 Today, Wednesday, Al-Madina International Center for Finance and Business held a meeting in the city of Sulaymaniyah, Kurdistan Region, in the presence of a number of businessmen and specialists in economic affairs to convey its financial vision.

A member of the committee supervising the establishment of the city center, Sherwan Anwar, said in an interview with Shafaq News Agency, "With the aim of transferring the vision of the center from the capital, Baghdad, to Sulaymaniyah, and then to some Iraqi governorates to secure a safe economic environment, this expanded meeting was held today, in the presence of members of the Securities Commission and the Stock Exchange. Iraq Securities.

Anwar added, "The city center for money and business was established with the vision of the governor of the Central Bank of Iraq, who presented it more than two months ago at the recent banking conference in Baghdad, after which business and money men held several meetings to transfer the vision of the center to the city of Sulaymaniyah."

And he indicated that "the center will provide banking and financial services, and it will include financial services companies and brokerage companies, in addition to other supportive services and business incubators."

Anwar pointed out that "the three pillars of money management, consisting of the Central Bank of Iraq, the stock market, and business incubators, can secure a safe economic and financial environment in the country, especially when there is coordination between these pillars, and when they are spread in a disciplined manner," noting that "the center It will provide the workforce that will serve the community, especially those who want to expand their projects, and it will also create an environment for training and developing youth through business incubators."   LINK

Turk182:  That's all Fine & Good.  Nice Pictures, glad to see everyone smiling and having a Good Time.   All this means NOTHING with Iraq having a useless, toilet paper currency. How long ago was the 2023, 2024 & 2025 Budget Approved/Ratified & Printed in the Gazette?  

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Clare:  The dollar passes 155,000 amid protests in front of the Central Bank of Iraq.. Pictures

7/26/2023

The exchange rates of the US dollar against the Iraqi dinar rose today, Wednesday, in the markets of Baghdad, and in Erbil, the capital of Kurdistan Region, to reach more than 155,000 dinars.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded, at 11 am, an exchange rate of 155,200 Iraqi dinars for every 100 US dollars, while the prices recorded in the morning for the opening were 154,300 dinars for 100 dollars.

As for the dollar prices in exchange shops in the local markets in Baghdad, they rose, as the selling price reached 156,500 dinars, while the purchase price reached 154,500 dinars for every 100 dollars.

In Erbil, the capital of the Kurdistan Region, the stock market also recorded an increase, as the selling price reached 155,200 dinars, and the purchase price was 155,150 dinars for 100 dollars.

In addition, dozens of angry protesters gathered in front of the Central Bank of Iraq building in the center of the capital, Baghdad, to protest against the high exchange rate of the dollar.

The demonstrators raised Iraqi flags and banners calling for swift measures to curb the continuous rise in exchange rates.   LINK

Jeffrey:  Someone answer this We have been taught that this hasn't happened yet because of Iran stealing dollars and the black market destroying the rate. Imo, if they just changed the rate Iran would no longer want the dollar  they would want the more powerful dinar and there would be no more black market. To me, the above doesn't sound like a good reason for it not to have gone when smarter people know that the above problems would immediately disappear if they just changed the rate.   Am I wrong? Anybody?

DoTalkToMe:  I wonder if Iraq is waiting to see if BRICS takes launch in August and survey their oppertunities at that time, or a long after that time  or who knows, there is always a reason why it has not happened yet. We have also been told Iraq can fund an RI many times over because they are filthy rich. I see no reason for inaction. RI the IQD and USD becomes nothing. Iraqis want there money, not USD.  The Iran excuse is also a cop out. Kuwait did it with pencils and paper, no electricity.
there is absolutely no excuse for this not happening a long time ago. Just incompetent people. I like Sundial but he's got lead in his pants.

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Clare:  An economist told NINA: The rise in the dollar exchange rate raised inflation rates

7/26/2023

The specialist in the economic affairs, Dergham Muhammad Ali, confirmed that the rise in the uncontrolled dollar price, despite the fixation of the exchange rate, caused economic damage without effective treatments and caused large inflation.

Dergham Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that "all the solutions developed by the Central Bank to control exchange rates did not bear fruit," indicating that increasing the ceiling of cash sales to approved banks is not the solution, but rather enabling the citizen to obtain dollars without intermediaries. through automated teller machines.

And Muhammad Ali stressed, "The need to follow the course of the dollar in the market and not to be a monopoly by specific banks that sell it at the price it imposes on the citizen, considering that inflation rates have risen due to the depreciation of the local currency against the dollar and that the citizen has moved away from adopting it as a store of value because it is unstable and in decline."   LINK

Papito:  the US Treasury OFAC Sanctions might have something to do with the Dinar but the audits that has affected Major Iraqi Banks might be influencing it.

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Clare:  Finance" criticizes a decision that caused the dollar to rise, and does not rule out imposing sanctions on the Iraqi Central Bank

7/26/2023

The Parliamentary Finance Committee criticized, on Wednesday, the recent decision of the Central Bank of Iraq to allow exchange companies to sell dollars to citizens wishing to travel, while it did not rule out that this would lead to new US sanctions on the country.

The deputy head of the committee, Ahmed Mazhar, told Shafaq News agency, "The Central Bank took a wrong decision when it allowed exchange companies to sell dollars directly to citizens wishing to travel outside Iraq."

 Mazhar asked, "We do not know how the central bank administration made such a decision?", Noting that "this decision may clash with the policy of the US Treasury, and new sanctions may be issued that may affect the central bank if the situation continues as it is now."

He pointed out that "the sanctions issued by the US Treasury reflected negatively on the market, and the exchange rate of the dollar against the Iraqi dinar will continue to rise further."

 Yesterday, Monday, the Central Bank of Iraq decided, according to Shafaq News Agency, to "facilitate cash sales in US dollars for travelers. It was decided to allow exchange companies of categories (A and B) wishing to open accounts with this bank in both dinar and dollar currencies for the purpose of participating in a sale window and buying foreign currency.   LINK

Paulette:  IMO.....As I stated......"......and force the CBI to institute the currency reform project."

However, this move by the CBI is congruent with the rest of the world...... and needed to be in place after the official acknowledgement by the IMF that Iraq has been Article 8 compliant....

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Clare:  Alaq: the rise in the exchange rate "my time" and the project to delete zeros still exists

Baghdad

The governor of the Central Bank, Ali Al-Alaq, considered, on Wednesday, that the rise in the exchange rate of the dollar in the market was temporary, and while he indicated that there was no indication or indication from the American side to include new banks within the sanctions, he confirmed that the project to delete zeros from the currency still exists.

Al-Alaq said, in an interview with the official news agency, that "the central bank continues to provide the dollar at the official rate and cover all legitimate transactions for the purchase request, such as transfers and credits for various imports," adding that "what is being talked about in terms of a rise in the exchange rate does not mean that there is a rise in the official price that It is still the same, but the rise in the cash price circulating in the market is caused by the reluctance of some merchants to enter the electronic platform, which is the official channel for sale required by the new system.

He added, "Merchants, in addition to other categories, cannot enter the platform because they do not practice legitimate activities and operations, and our role in the Central Bank is to push everyone who needs to buy dollars to enter the legal and correct way, and the process today is in fact a process of reorganizing the movement of trade and funds, which makes these operations Subject to local and international controls and standards, which leads to an effective implementation of the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015.

Al-Alaq pointed out that “the process of implementing the new system in reorganizing the movement of trade and funds requires the cooperation of multiple parties, and we expected that the issue would receive support, implementation, and interaction from the official and popular parties to support the Central Bank in achieving the goal of this system to make the movement of funds proceed in legal contexts and correct standards to avoid any internal or external risks.

He stressed, "The international financial system is integrated, coherent, and interdependent, in which some influence others, and all financial institutions in the world deal with the movement of funds with caution within an accurate assessment of risks and verification of the sources of funds and their beneficiaries. Iraq is part of this system, and we must achieve a high degree of compliance with the standards." The international financial system to ensure the integrity of our financial system, and this, as we indicated, requires great support for the Central Bank, and for each party to take its role.

And the Governor of the Central Bank stated, “Regulating foreign trade falls outside the control of the Central Bank and requires the cooperation of multiple parties concerned with this file, such as the Ministry of Commerce, the Border Crossings Authority, the Customs Authority, the security services, and other parties, and what we do serves all parties, the country’s economy and its general situation, and therefore there must be solidarity.” Collaboration and interdependence between everyone with the Central Bank to achieve the goal of the system.

He pointed out that "we often hear remarks about the process of selling the dollar and the movement of the currency, and today when the Central Bank assumed this great responsibility to reorganize it and put it in its correct contexts, the issue cost a great effort of human resources to monitor the process and ensure its safety with the application of electronic programs that cost the bank large sums of money." investments, and we seek the assistance of an international auditing firm to review operations and verify their validity, and here there must be support and backing to achieve the primary goal.” 

He pointed out that "there are parties that do not want the correct standards to be adopted, and some of them are trying to take advantage of this situation to jump on the market and withdraw the cash assets in it to achieve special benefits and speculations. Directly from Prime Minister Mohamed Shia Al-Sudani, who gave this issue great attention.

Al-Alaq explained that “what the Central Bank announces of daily sales of foreign currency are not the operations actually in effect, but rather the requests that the Central Bank transfers externally to conduct import transactions, and what is implemented is less than what is announced in terms of numbers, because there are transactions that have notes, deficiencies, or lack thereof.” Conditions are met and rejected, and the daily sales rate actually executed daily reaches $155 million.”

He added, "The failure to meet all requests is caused by merchants not entering the electronic platform, so they go to the market to buy dollars in cash, and the supply is what citizens circulate for the purposes of treatment, study, etc., and the current problem in Iraq is not related to a lack of cash reserves in it, as happens in a number of countries, but rather we have a large reserve." He can respond to requests and there are no restrictions."

And he continued, “The problem is in the request itself, as some of those who want to buy dollars do not adopt the correct methods by going to the electronic platform, and we at the Central Bank presented two proposals to the government to meet their requests: the first includes easing tax procedures and making their percentage simple and deposited directly in accounts without entering into complications.” taxation and tax accounting, and the second proposal, which is that the entry of any goods into Iraq should be through a new mechanism that includes the presence of evidence of its official transfer, and the first proposal was accepted by the government by taking advantage of what was stated in the budget law, Article 48, and now work is underway to determine the categories covered, and the second proposal is currently being studied from The government must document the entry of goods and disclose the source of funding, which is one of the requirements of the Anti-Money Laundering Law.”

He noted that "there is acceptance of the idea of ​​taxation and benefiting from what was stated in the budget law in Article 48, and now work is underway to organize it and define the categories and tax," noting that "the rise in the exchange rate in the market is temporary and the fate of merchants who buy dollars from the market is entering the platform and transferring in a legal manner." Then there will be no pressure on the exchange rate in the market.

Al-Alaq added, however, by saying: “The penalties imposed on 14 local banks were not at the time of the current government, but rather at the time of the previous government, and the announcement of them a few days ago came after completing audits on all transfers and verifying their sources,” noting that “the phenomenon of speculators in the market who They spread radiation and create a crisis that leads to an increase in the price, and it does not change anything about the possibility of applicants for obtaining dollars from going to banks other than those that have sanctions.”

Al-Alaq confirmed, “There is no indication or indication from the American side of including new banks within the sanctions,” noting that “the central bank will follow up on the issue of banks that have been subject to deprivation of the dollar and will enter into the process of reviewing and verifying them.”

He revealed, "There are a number of proposals being developed to set up the trade process with the Iranian side and the payment mechanism within its framework, and work to provide means of payment through the Iraqi currency and prepare special cards for this issue."

And he noted that "the Central Bank continues to put forward regulatory packages to stabilize the market, and the most important measure taken by the bank is to open the largest number of channels to conduct transfers, and now we have opened a direct channel to conduct transfers with China in its currency without going through complex operations, and these transfers are conducted quickly and easily." He stressed, "The bank started transfer operations in the Chinese currency with one bank, and now the number of banks has reached more than 10 banks."

Al-Alaq announced "close dealings with European banks and in other countries in order to give transfer channels speed and help attract merchants."

Al-Alaq explained, "There are certain arrangements being worked on between the Iraqi government and Iran, and between the American side regarding the payment of gas supply dues."

He pointed out that "there are good efforts that are focused and escalating related to the campaign to support the Iraqi dinar," noting that "the strength of the Iraqi dinar derives not from the citizen, but from the capabilities of the country."

He continued, "Prime Minister Muhammad Shia al-Sudani personally is one of the main supporters of the campaign to support the Iraqi dinar." 

Regarding the experience of generalizing electronic support, Al-Alaq explained that "the issue receives great interest from the Central Bank, and now a meeting has been completed with an international electronic payment company, and there is progress, but it depends on expanding the circle of culture in this aspect."

And he stated, "The experience of electronic payment for citizens against government institutions has begun to succeed, and there are many departments that have joined, and we are working on a very important step, which is conducting transactions by paying via mobile phone, that is, a person can pay as soon as the other party has a (code) where any A person holding this code can pass the code on the device and enter his account, which is an advanced step even from using cards.” 

And on the size of Iraq's debts, Al-Alaq indicated, "The internal volume of Iraq's debts amounts to about 65 trillion, of which 46 trillion belongs to the Central Bank, and the rest belongs to government banks, and is paid in the form of payments, while the external debt is about 20 billion dollars, while the Iraqi reserve is more." Of 113 billion dollars,” noting that “the adequacy of the Iraqi reserves is high, and it guarantees foreign currencies and gold.” 
Regarding the Riyada initiative, Al-Alaq said, "The Prime Minister launched a Riyada initiative to qualify young people and enter them into small projects, and to embrace their capabilities and innovations," pointing out that "the Central Bank entered as a financing party by launching a project to establish the Riyada Bank, in order to absorb and finance these capabilities."

And he indicated, “The Central Bank is in the process of establishing this bank, and there is great interest from us and private banks,” noting that “the bank has various initiatives, including financing small and medium projects and the ongoing housing lending initiative through the Real Estate and Housing Bank, as well as we have an initiative to support the use of solar energy, and there is An initiative for the displaced in partnership with the international institution, and we have financing previously funded industrial and agricultural projects, and the bank is working to complete its financing while it is re-studying the initiative related to the industrial sector. 

He pointed out, "It was dismissed from printing the category of twenty thousand dinars because of the existence of a category of 25 thousand dinars, and we do not wish to expand the current categories, because the project to delete zeros still exists." 

Regarding the structure of government banks, Al-Alaq said, "There is now coordination and focus on this file, and great interest from the Prime Minister personally, and periodic meetings in this field, and we have some ideas about these banks that we are working on implementing at the present time."   LINK

KTFA Monday Night CC "GET OUT OF THE WAY" 7-24-2023

KTFA

Monday Night Conference Call

Frank26…….7-24-23…..GET OUT OF THE WAY

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=lBpm0-yUQSE

KTFA Members "News and Views" Monday 7-24-2023

KTFA:

Clare:  Parliamentary Finance Is Threatening To Move If The Central Bank Fails To Contain The Dollar Crisis

 7/24/2023

Today, Monday, the Parliamentary Finance Committee revealed the goal of hosting the Governor of the Central Bank of Iraq, Ali Al-Alaq, a day after his meeting with the Prime Minister.

Committee member Jamal Cougar told Earth News that "the goal of hosting the Governor of the Central Bank of Iraq, Ali Al-Alaq, is to discuss the issue of the significant rise in the dollar exchange rate in the local market, and the bank's measures to counter this rise."

And Cougar stated, “The Parliamentary Finance Committee does not have any powers over the issue of dollar procedures, as this matter is within the jurisdiction of the executive monetary authority, and we have a supervisory role on these procedures and the follow-up of the imbalance, and we are held accountable for it, and we will also have an opinion on the role of the central bank in dealing with the dollar crisis during the coming period.”    LINK

Zeeman:  IMO all these articles  talk about the usd seems to be rising instead of decreasing . it seems as though they either do not really want to revalue the dinar or are being told not to by outside powers. they have been talking about releasing the budget since nov of 2022 if it was so important to the economy and citizens  it should have been done a long time ago. again IMO

Clare:  Details of the Parliamentary Finance meeting with the Governor of the Central Bank regarding the reasons for the rise in the dollar

7/24/2023   Baghdad

- The Parliamentary Finance Committee is discussing with the governor of the Central Bank the reasons for the high dollar exchange rate

Parliamentary Finance: There is optimism in the process of reforming the economic reality, money management, and the path of controlling the exchange rate

Parliamentary Finance: There is a problem related to the existence of penalties imposed on some banks

- Governor of the Central Bank: The bank's mission is to achieve monetary stability and control prices

- Governor of the Central Bank: It is necessary to create a balance between supply and demand for foreign currency, and to monitor the cash currency entering and leaving through the outlets, and confirming its entry in a proper manner.

- Governor of the Central Bank: The general principle of monetary stability is the linkage of the exchange rate with cash

Central Bank Governor: The problem lies in the increased demand for currency, while the bank provides currency through the platform   LINK

Suzie:  Call me dumb, but sounds like a lot of banking issues before any ER change and I thought al Alaq was brought in months ago to speed things up and literally a month ago sounded like this thing was ready to "pop" with the budget and everything else coming into play and here we are almost into August and with banning the use of the dollar I wonder how their people are getting by?  Just wonderin"......in MY opinion....

Turk182:  Over a Month since the 2023, 2024 & 2025 Budgets were Officially Printed in the Gazette

Several Months since Sudani told the Citizens of Iraq to no longer use the USDollar (or they would be arrested) and also Do Not use your Iraqi Dinar, as it will "SOON" be worth more.

Here we are, on the verge of August 01st and still nothing.

No more excuses, they've been using this cover of an excuse for nearly a year now of their "Educating the Citizens on this Monetary Reform" - 

Iraq is obviously NOT a Sovereign Nation. (IMHO)

So much Hype, yet the prettiest girl at the Prom is still sitting in the corner.

Why?     Something smells rotten in Denmark.  (IMHO)

Zeeman:  Theres alot of talk but remember action speaks louder then words and we need real action instead of meaningless words. Imo

Turk182:  Couldn't agree more Zee…..and these "ACTIONS" are very long overdue.

Clare:  Economic warning of Iraq's return to Chapter VII

7/24/2023    Baghdad...

Economic expert Abd al-Hasan al-Shammari warned, on Monday, that Iraq would return to Chapter VII and impose sanctions on it due to banking violations of the Swift system, stressing the importance of diversifying the sources of the economy and trade exchange with capitalist countries.

 Al-Shammari told Al-Maalouma, "The government does not need to take measures to ensure that the exchange rate of the dollar is returned to its official price, after it recorded an increase from its previous level a week ago today, especially after imposing sanctions on a number of Iraqi banks."

He added, "Ensuring that sanctions are not imposed on Iraqi banks and the continuation of selling the dollar in its natural state depends on Iraq's commitment to international resolutions and the Swift system, and otherwise, Baghdad will face sanctions that may return it to Chapter VII."

And he indicated that "the exchange rate of the dollar may reach 1,700 dinars in the coming days, in the event that sanctions and transactions that violate international resolutions continue to be imposed."

He pointed out that "the country is liable to return to the oil-for-food program if the situation continues as it is."

Al-Shammari pointed out, "the importance of heading towards the rich capitalist countries in order to diversify the sources of the economy and trade exchange."  LINK

KTFA Friday Night CC "Rate Changed Again" 7-21-2023

KTFA

Friday Night Update

Frank26…..7-21-23……RATE CHANGED AGAIN

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

Frank26: They are pairing the Iraqi dinar with many currencies from all around the world…and that pairing  is bringing the Iraqi dinar on a International Stage….not full accepted yet but greatly appreciated.

Please listen to full video for all the information

https://www.youtube.com/watch?v=V7RyMN4_v_Q

Iraqi "Unrest" News and more posted by Clare at KTFA 7-20-2023

KTFA:

Clare:  The Central Bank issues two decisions to support the dinar against the dollar

7/20/2023

  The Central Bank of Iraq announced, today, Thursday, that it had taken "two urgent decisions" to enhance the ability of the Iraqi dinar in front of foreign currencies to circulate within the country.

And the Central Bank media stated in a statement received by {Euphrates News} that "the collection of all cash insurances shall be in the dinar currency exclusively with regard to internal credits, bank guarantees, and letters of guarantee issued in favor of the beneficiaries (governmental and private), even if they are in the dollar currency and at the official exchange rate." 

He added, "It was decided that the payment of the sums of the letters of guarantee upon confiscation be exclusively in the Iraqi dinar and at the official exchange rate." 

The Iraqi Central Bank called, according to the statement, "all licensed banks to take the necessary measures in accordance with the above."   LINK

Clare:  Iraq cuts diplomatic relations with Sweden

7/20/2023

The Iraqi government decided, on Thursday, to withdraw its Chargé d'Affaires in Stockholm, and expel the Swedish ambassador from the country's lands, in protest against allowing a demonstration in which the Qur'an was torn and burned for the second time.

The government spokesman, Basem Al-Awadi, said in a statement today that the Prime Minister, Muhammad Shia'a Al-Sudani, directed the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affairs from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. 

He also directed a request from the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Noble Qur’an, insult Islamic sanctities and burn the Iraqi flag, according to Al-Awadi.    LINK

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Clare:  Al-Sadr's supporters burn the Swedish embassy.. The Foreign Ministry denounces and Stockholm holds the Iraqi authorities responsible

7/19/2023

The Swedish embassy in Baghdad was set on fire at dawn, Thursday, during a demonstration organized by supporters of the leader of the Sadrist movement, Muqtada al-Sadr, on the eve of a gathering in Sweden in front of the Iraqi embassy whose organization intends to burn a copy of the Quran.

The attack on the Swedish embassy in Baghdad came after the Swedish police allowed the organization of a small gathering in front of the Iraqi embassy in Stockholm, where the organizer intends to burn a copy of the Koran and the Iraqi flag on Thursday.

For its part, the Iraqi Ministry of Foreign Affairs condemned in a statement "in the strongest terms" the burning of the Embassy of the Kingdom of Sweden in Baghdad, calling for the launch of an "urgent investigation" into the incident.

The statement stated that "the Iraqi government instructed the competent security authorities to conduct an urgent investigation and take the necessary security measures with the aim of uncovering the circumstances of the incident and identifying the perpetrators of this act and holding them accountable according to the law."

And Silwan Momica, who wants to burn the Qur’an in Sweden today, Thursday, is an Iraqi refugee there, and on June 28 he also burned pages of a copy of the Qur’an in front of the largest mosque in Stockholm on Eid al-Adha.

In response to the storming of its embassy, ​​the Swedish Foreign Ministry said: We condemn all attacks on diplomats and staff of international organizations. All employees of our embassy in Baghdad are safe and the ministry is in regular contact with them.

She added that the attacks on embassies and diplomats constitute a serious violation of the Vienna Convention, and the Iraqi authorities bear the responsibility to protect diplomatic missions and their personnel.   LINK

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Clare:  Iraq.. The Communications and Media Commission suspends the license of the Swedish Ericsson Telecom Company

7/20/2023

Baghdad - 

Today, Thursday, the Iraqi Media and Communications Authority announced the suspension of the license to operate the Swedish company Ericsson for communications in Iraqi territory.

The commission said in a statement, which Mawazine News received a copy of, that "the head of the Media and Communications Commission, Ali al-Moayyed, suspended the license to operate the Swedish Ericsson Telecom Company in Iraqi territory because its country allowed the burning of the Holy Qur'an and the Iraqi flag."

The media office of the prime minister announced in a statement that the latter "directs the Ministry of Foreign Affairs to withdraw the Iraqi Chargé d'Affaires from the Embassy of the Republic of Iraq in the Swedish capital, Stockholm. He also instructed the Swedish ambassador in Baghdad to leave Iraqi territory, in response to the repeated permission of the Swedish government to burn the Holy Qur'an, insult Islamic sanctities, and burn the Iraqi flag."

Earlier, Al-Sudani chaired an emergency meeting against the background of granting the Swedish government a license to burn the Qur’an, and the incident of burning the Swedish embassy in Baghdad.

The Swedish authorities summoned the Iraqi charge d'affairs in the country, following the burning of its embassy in Baghdad, in protest against Sweden's granting of approval to burn the Qur'an in front of the Iraqi embassy in Stockholm.   LINK

Clare:  After the US sanctions... Exchange company guards shoot journalists in central Baghdad

7/20/2023

The Journalistic Freedoms Observatory reported, on Thursday, that the guards of an exchange company shot two journalists in the center of the capital, Baghdad, wounding one of them and detaining his brother, after a US decision to impose sanctions on Iraqi banks.

The Observatory said, in a statement received by Shafaq News Agency, that the security forces of an exchange company opened fire on journalists in central Baghdad today, Thursday, during a live broadcast of Iraq 24 channel, which is specialized in economic affairs.

The observatory quoted Hassan Nabil, the channel's correspondent, as saying that the staff of Iraq 24 channel in Baghdad were subjected to beatings and gunshots by the protection of Al-Taif Exchange Company during live coverage in front of the company's building in Karrada, after the issuance of US sanctions against 14 Iraqi banks, including Al-Taif Bank.

Nabil added that he was detained inside the bank before being transferred to Al-Masbah police station, in addition to his brother Musa Nabil being shot in the hand when he was trying to protect him from the assault of the company's security personnel, and the photographer, Hassan Nabil, had bruises in parts of his body.

Nabil told Al-Marsad that he is currently at Al-Masbah police station in the capital to file a lawsuit against the bank's management.

This comes at a time when the Iraqi Observatory for Journalistic Freedoms had called on the security services to stop using violence against journalists and avoid arbitrarily arresting and detaining them on charges of "forbidden photography" despite having identity cards.    LINK

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Clare:  It has been suspended for more than 10 years.. Parliament announces the activation of the Article 140 Committee, according to a political agreement

7/20/2023

Today, Thursday (July 20, 2023), the Second Deputy Speaker of the House of Representatives, Shakhwan Abdullah, announced the reactivation of the temporary committee formed in the House of Representatives to follow up the work of the Article 140 Committee of the Constitution, while pointing out that this committee has been suspended for more than 10 years.

Abdullah said in a press conference held with the participation of members of Parliamentary Committee 140, followed by "Baghdad Today", that "the temporary committee formed in the House of Representatives to follow up on the work of the Article 140 Committee of the Constitution, which has been suspended for more than 10 years, was activated after the agreement of the political blocs and support for the activation of this article."

He added, "There are thousands of transactions from those affected by the policies of the defunct regime within the framework of Article 140. We noticed through representatives of the governorates that there are many files, and the truth is that the amount allocated for compensation by the government in the 2023 budget is a very small amount."

And Abdullah continued, "The committee needs to complete its tasks to four trillion. Only 100 billion dinars have been allocated, and after efforts, another 100 billion were transferred to become the amount of 200 billion. This amount needs to be organized for how compensation reaches those included in the article. A mechanism has been established for the work of the committee, and there are regular weekly meetings for the work of Committee 140 to push for its real activation and completion of its tasks."

And he pointed out, "One of the tasks of the committee is also the necessary legislation and the abolition of the decisions of the Revolutionary Command Council that are unfair to the rights of the people of many provinces."

Abdullah concluded, "We thank the efforts of the government that voted on a draft law to cancel the decisions of the Revolutionary Command Council. The committee will have its first tasks to seek to receive the draft law from the government and approve it to ensure the restoration of farmers' rights. There will be a mechanism in cooperation with the government committee to reach citizens' dues in all governorates because there are southern governorates that did not receive compensation in addition to the governorates of Kirkuk, Diyala and Nineveh."

Yesterday, Wednesday (July 19, 2023), the former deputy of the Patriotic Union of Kurdistan, Hassan Ali, criticized the exploitation of the problems of "Article 140" as the elections approached. Stressing that its solution "lies only through the constitution."

In an exclusive interview with "Baghdad Today," Alli seemed surprised by "exploiting the problems of the politically disputed regions with the approach of each new election cycle," considering that "delaying the implementation of the article does not mean at all that it has ended in a constitutional article."

The aforementioned constitutional article does not fall away with time, according to the Kurdish MP. Which confirms that "these areas must be private by the federal government."

The speaker acknowledges the continuation of the problems of the disputed areas, and links their solution exclusively to the "constitution," noting that "the mobilization of politicians will continue with every electoral process."

Yesterday, Wednesday (July 19, 2023), he announced the formation of a political alliance that includes 13 Kurdish parties to participate in the provincial elections in the disputed areas, without including the Kurdistan Democratic Party and the Kurdistan Islamic Union.  LINK

Wednesday Night KTFA CC "THEY ARE WAITING ON THEMSELVES" 7-19-2023

KTFA

Wednesday Night Conference Call

Frank26…..7-19-23……THEY ARE WAITING ON THEMSELVES

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=63vVMrG86u4

An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

KTFA:

Clare:  An Arab currency stronger than the US dollar.. "Forbes" monitors the 10 weakest monetary currencies in the world

7/18/2023

 The American "Forbes" magazine discussed the 10 weakest currencies in the world, of which the Iranian riyal is the weakest, as well as the Lebanese pound, at a time when the Kuwaiti dinar is actually the strongest currency, even against the US dollar, which remains among the strongest currencies in the world.

The American report, translated by Shafaq News agency, pointed out that the US dollar is seen as the strongest currency in the world and is the most traded, at a certain level, but it is actually not the strongest currency, but rather the Kuwaiti dinar.

Currency pricing

The report reviewed how foreign currencies are priced, explaining that foreign currencies are traded in pairs, for example, the purchase price of the US dollar is using the pound sterling, and as a result, the currency is always priced in relation to another currency, which is known as the "exchange rate".

 The report indicated that most currencies are "floating", which means that their value fluctuates according to supply and demand, but some currencies are "pegged", which means that their value relative to another currency (such as the US dollar) is fixed at an agreed upon price.

The report pointed out that exchange rates affect the cost of goods and services in a foreign currency. For example, if the pound sterling rose against the dollar, vacation expenses in the United States would be less expensive in terms of the pound sterling.

He added that exchange rate movements provide an opportunity for investors seeking to make profits through trading foreign currencies.

Then the report reviewed the ten most vulnerable currencies in the year, according to an assessment based on the number of foreign currency units that are obtained for one US dollar.

Iranian riyal 

The report considered that the Iranian riyal is the weakest currency in the world, as one riyal buys only 0.000024 US dollars (meaning that one dollar equals 42,273 Iranian riyals).

He pointed out that the Iranian rial was introduced for the first time in the late 18th century, and was later linked to the pound sterling, and then to the US dollar.

He added that although the currency is now floating, it has remained at around 42,000 riyals to the dollar over the past few years.

Despite Iran's leadership in oil and gas, economic sanctions have put pressure on the Iranian currency, in addition to political unrest and high inflation.

Vietnamese dong

The report stated that the Vietnamese dong is considered the second weakest currency in the world, as one dong buys 0.000042 US dollars (or one dollar equals 23,711 Vietnamese dong), a process that began trading in 1978. 

He added that services represent the largest proportion of the gross domestic product, followed by industries such as electronics, energy and textiles, but the currency has been affected by restrictions on foreign investment and the recent slowdown in exports, along with high interest rates in the United States.

Laotian Cape

The report pointed out that the Laotian kip is the third weakest currency, as one kip buys $0.000052 (or $1 equals 19,072 Laotian kip), a currency introduced in the fifties of the last century, and it is a floating currency.

Laos relies heavily on exports such as copper, gold and timber, but the economy has been hit by slowing economic growth, high external debt and inflation, which put pressure on the national currency. 

Sierra Leone

As for the fourth weakest currency in the world, it is the Sierra Leonean leone, where one leone buys 0.000057 dollars (or the dollar equals 17665 Sierra Leonean leone), and it was introduced in 1964, and is fully floating.

He added that the main exports of Sierra Leone include timber and minerals such as diamonds, gold and industrial minerals, and the value of the leone currency has declined due to inflation that exceeded 40%, in addition to large debts, slow economic growth and the economic effects of the Ebola virus outbreak.

Indonesian rupiah 

The Indonesian rupiah is considered the fifth weakest currency in the world, as 1 rupee buys 0.000067 US dollars (or 1 dollar equals 14,993 Indonesian rupiahs), and was introduced in 1946 and was initially pegged to the US dollar before moving to a free float.

The report described Indonesia as the largest country in Southeast Asia in terms of gross domestic product, thanks to the services sector.

Lebanese pound

According to the report, the Lebanese pound is considered the sixth weakest currency in the world, as one pound buys 0.000067 US dollars (or the dollar equals about 90,000 Lebanese pounds). The lira was introduced for the first time in the 1930s and is linked to the US dollar.

He pointed out that Lebanon has an economy based on services, but it also exports precious stones, minerals, chemical products, food and beverages.

He added that the lira fell to a record level against the US dollar in early 2021 due to the severe economic recession, high inflation, unemployment, the banking crisis and political unrest.

Som Uzbekistan

The report stated that the Uzbekistani som is the seventh weakest currency in the world, as 1 som buys 0.000087 dollars (or 1 dollar equals 11.516 Uzbekistani som), a currency introduced in 1993 and fully floating.

Uzbekistan is considered one of the leading countries in the export of cotton and has large reserves of minerals, oil and gas. It is implementing economic reforms, but it still suffers from low economic growth, high inflation, unemployment and corruption.

Guinea franc

As for the eighth weakest currency, it is the Guinean franc, where one franc buys 0.000116 dollars (or 1 dollar equals 8583 Guinean francs). The currency was introduced in 1959 and is fully floating. 

Although Guinea has an abundance of natural resources such as gold and diamonds, it has suffered from increasing rates of inflation, military unrest and the influx of refugees from neighboring Liberia and Sierra Leone.

Paraguayan Guaraní 

And the Paraguayan guarani comes in ninth place, where 1 guarani buys 0.000138 dollars (or 1 dollar equals 7249 Paraguayan guarani), and it was introduced in 1952 and is fully floating.

Although Paraguay is a major producer of soybeans, stevia (a sugar substitute) and beef, as well as exports of corn and sugarcane, it has been pressured by soaring inflation, corruption and counterfeiting of currency.

Ugandan shilling

The Ugandan shilling is considered the tenth weakest currency in the world, as the Ugandan shilling buys 0.000273 dollars (or the dollar equals 3669 Ugandan shillings), and it was introduced in the year 1966, and it is floating freely.

Although the country is rich in commodities such as oil, gold and coffee, its economy suffers from unstable growth, high debt and political turmoil.   LINK

KTFA Monday Night CC "They Are Getting Ready" 7-17-2023

KTFA

Monday Night Conference Call

Frank26…….7-17-23….THEY ARE GETTING READY

This video is in Frank’s and his team’s opinion only

Frank’s team is Walkingstick, Eddie in Iraq and guests

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=wGcjy3VYjfM

KTFA Members "News and Views" Monday 7-17-2023

KTFA:

Clare:    The Kurdistan government suspends official working hours in the first of Muharram

Shafaq News / The Department of Information and Information in the Kurdistan Regional Government announced on Monday the suspension of official working hours on the first day of the Islamic New Year according to the official calendar.

"The Ministry of Endowments and Religious Affairs will determine today evening after sunset the first day of Muharram and declare it an official holiday," the department said in a statement responding to Shafaq News Agency.  LINK

Paulette:  With a holiday this Wednesday for Islamic New Year, A cabinet meeting tomorrow on New Year's Eve.........Could Kim Clement prophesy be:

".....In the summer months........ Nothing(the week 6/21-6/28), Nothing(the week 6/28-7/5), Nothing(the week 7/5-7/12), Suddenly(the week 7/12-7/19)"...... ?????????

Clare:  The Finance Committee is likely to launch the implementation of the budget law tomorrow

7/17/2023

The Parliamentary Finance Committee ruled out, on Monday, the impact of the Iraqi government's appeals on articles of the general budget law in the continuation of the law, suggesting that the implementation of its articles will start from tomorrow.

Committee member, Representative Jamal Koujar told Shafaq News agency, "The appeals submitted by the government against articles and paragraphs of the budget law are the ones that stop, not the budget law."

Cougar suggested that the cabinet session tomorrow, Tuesday, would be the beginning of the launch, and the implementation of the budget law in ministries and state institutions.

Cougar stressed that the Ministry of Finance should be ready to implement the budget law, and we do not know the reasons for the delay in implementing the law.

On the third of July, the head of the federal government, Muhammad al-Sudani, submitted an appeal to the Federal Supreme Court against a number of paragraphs of the budget law, with a request to the court to issue a (state order) to stop the implementation of these articles after the law entered into force until the court decided to challenge the constitutionality of these articles.

On June 12, the Iraqi parliament voted on the financial budget for the three years (2023-2024-2025), with a value of 198.9 trillion Iraqi dinars ($153 billion) for each year.  LINK

Suzie:  I hope this means getting "off dead center" and get going with all reforms, as they're not using the US dollar anymore they need the rate change to the dinar to execute all their plans including the HCL.  We're starting a new week, again, how long can they keep up with the rhetoric and promises and not perform?  Hopefully Frank will have a few more answers tonight!  Just MY opinion! 

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TBJ:  I believe there are formalities in this process that make this rate change we are looking forward to, to take 'just a bit longer' than we expect, and I sure hope the frustrating "surprise" formalities are near their final end so we can finally experience the end result.....

DoTalkToMe:  I believe Iraq wants to RI. However they are ineffective so far. I believe they still need outsiders help to get it done. They need USA to hold their hand to coax them over the finish line.

Godson:  Imo.. They've been doing it they just haven't finished yet

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Clare:  The President of the Republic directs the need to work hard to implement Article (140) of the Constitution and to follow up on its implementation with the relevant authorities

2023/07/17

His Excellency the President of the Republic, Dr. Abd al-Latif Jamal Rashid, instructed the necessity of serious work to implement Article (140) of the Constitution and to end the outstanding issues regarding it in a manner that preserves the rights of all.

Mr. President stressed the importance of following up the implementation of the decisions of the Supreme Committee for the implementation of constitutional Article (140) by holding meetings and gatherings with the relevant authorities and giving priority to this file, which affects the lives of a wide segment of the components of Iraqi society.

His Excellency had met separately with a delegation that included a number of farmers and farmers from Kirkuk Governorate, and a member of the Supreme Committee for the Implementation of Article (140) of the Constitution, Mr. Babiker Siddig Ahmed, and listened to them about the problems they face, especially in resolving issues related to agricultural lands and not activating Article (140)

Where the delegation, after meeting the President of the Republic, held a number of meetings with officials and relevant authorities, which resulted in taking actual steps to implement Cabinet Resolution No. (29) of 2012 with the aim of finding appropriate solutions for the suffering of the farmers and farmers of Kirkuk.

His Excellency the President directed the formation of a committee in the Presidency of the Republic to follow up the implementation of the decisions of the Supreme Committee of Constitutional Article (140) by the relevant ministries and institutions, and to submit a report to His Excellency in this regard periodically.   LINK

Clare:  The Kurdistan delegation reveals the outcomes of its first meeting in Baghdad

7/17/2023

On Monday, the Kurdistan Regional Government delegation held its first meeting with officials of the federal government, in the capital, Baghdad.

Omid Sabah, the head of the cabinet's office in the region, who heads the Kurdish delegation, said, in a statement received by Shafaq News agency, "The meeting witnessed a discussion about the mechanism for implementing the paragraphs related to the obligations and dues of the Kurdistan Region in the federal general budget."

Sabah added, "The meeting decided to continue working with the Ministries of Oil and Finance and the Board of Supreme Audit, and a high-level meeting will be held in the coming days."

Yesterday, Sunday, a delegation from the Kurdistan Regional Government went to the capital, Baghdad, to meet with officials of the federal government at the Prime Minister's Office, and discuss the financial dues of the region.  LINK

Sir:  IMO- It’s called slow dancing! 

Far too many things going on in the world for the prettiest girl at the prom to be doing the jidder-bug, so we hold her tight and slow dance. 

Surely we have influences out side of Iraq holding things up. Plenty of articles stating that the US needs to recognize Iraq’s sovereignty. I strongly believe that it’s more than just the US. After all we all know that the IMF-WEF-World Bank-WHO-WTO and many other are compromised and have always been compromised.

Iraq is not the only country dealing with corruption and evil people. Unless the corruption in all Fore-mentioned agencies are cleaned out our just eliminated, sadly things will remain the same. You can’t have one ( RI ) without the other ( eliminate corruption).

One thing we can do as good people is to stop playing in their system. Stop shopping at their stores, gas-stations and be sure you have real money ( Constitutional money, gold-silver ). The choice is ours and so we keep slow dancing. IMO….

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Clare:  Parliamentary Finance hosts the Governor of the Central Bank to discuss the exchange rate of the dollar

7/17/2023

The Parliamentary Finance Committee announced, on Monday, that it decided to host the Governor of the Central Bank, Ali Al-Alaq, next week.

The deputy head of the committee, Ahmed Mazhar al-Jubouri, said, “After approving the budget and fixing the exchange rate of the dollar at 1,320 dinars, there will be a hosting of the governor of the Central Bank and his advanced staff next week in the Finance Committee to discuss the issue of the exchange rate.”

He added, “The committee will discuss with the governor about the bank’s plan.
” In maintaining the exchange rate.”    LINK

Same "Saturday News" Posted by KTFA Members 7-15-2023

KTFA:

Clare:  An upcoming government announcement to disrupt working hours next Wednesday

7/14/2023    Baghdad

A government source said today, Friday, that the government is heading to announce the suspension of working hours next Wednesday.

The source told "Baghdad Today" that the government will announce the suspension of official working hours next Wednesday.

He added that "working hours will be suspended on the occasion of the first of the holy month of Muharram."    LINK

Paulette:  And there it is.....Islamic New Year Holiday

Henig:  Parliamentary Finance: Tomorrow will witness the launch of provincial allocations within the budget

Today 12:37    Information/ Baghdad.

A member of the Parliamentary Finance Committee, Mueen Al-Kazemi, confirmed the launch of provincial allocations tomorrow, Sunday.

Al-Kazemi said in a televised interview followed by Al-Maalouma that "the allocations of ministries and governorates from the budget are scheduled to be launched tomorrow, Sunday."

He added that "the budget is under implementation, with the exception of some articles against which the state order was issued, and it was frozen until the final decision was issued."

Al-Kazemi pointed out that "the Presidency of Parliament assigned the Parliamentary Legal Committee to cooperate with the Finance Committee to provide the necessary clarifications to the Federal Court on the state decision."   LINK

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Clare:  Finance Minister: Iraq possesses the requirements of a strong economy

7/15/2023

Today,     
Saturday, the Minister of Finance, Taif Sami, summarized the ministry's steps to support the government program and advance the Iraqi economy, while noting that the Ministry of Finance has been activating bilateral agreements with various international financial institutions that support the establishment of a balanced and sustainable financial and economic system.

And the Director of Al-Rashid Bank, Muhammad Samir, delivered the speech of the Minister of Finance, Taif Sami, during the sixth annual conference on finance and banking services, which was attended by the correspondent of the Iraqi News Agency (INA), in which he stated that “convening the conference is of importance because it provided an opportunity to announce our steps in the Ministry of Finance to support the program.”

The government through a well-thought-out approach that pushes the wheel of economic advancement and provides opportunities for sustainable development, which is reflected in the provision of the best services to citizens through the banking sector, as it is one of the pillars supporting any stable and vibrant economy, and plays a pivotal and major role in supporting the process of economic industrial renaissance by providing absolute support to the productive sectors of Owners of small and medium local projects.

In her speech, the Minister of Finance added:
And she continued: "Therefore, the Ministry of Finance is moving steadily towards optimal development of economic goals by promoting optimal opportunities to attract investment from infrastructure projects and correcting the course of fiscal policy in light of the current economic challenges." LINK

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Clare:  The Central Bank of Iraq participates in the opening of the Sixth Annual Conference on Finance and Banking Services

July 15, 2023

Today, Saturday, the Central Bank of Iraq participated in the opening of the sixth annual conference on finance and banking services, which was held at the Baghdad International Fair.

The Deputy Governor, Dr. Ammar Khalaf, in his speech during the opening ceremony, emphasized the role of the Central Bank of Iraq in achieving financial and economic stability in the country, stressing the existence of changes in the various monetary policy tools in line with the challenges of the stage.

The deputy noted an increase in electronic payment tools in the period between 2017-2022, as today the number of different cards has reached 16 million, with the number of payment devices increasing from 918 devices to more than 10 thousand devices, in addition to the increase in the number of ATMs from 656 devices. To more than 2000 devices, and it is subject to increase during the coming period.

Accompanied by the invitees, Mr. Representative toured the corridors of the exhibition, which ends on the 17th of this month, and was briefed on the latest services and benefits offered by banks to the public. 

The Central Bank of Iraq, 
Media Office, 
July 15, 2023

https://cbi.iq/news/view/2378

Clare:  The Central Bank indicates two challenges with more than 130 trillion dinars facing the Iraqi economy

7/15/2023

Deputy Governor of the Central Bank, Ammar Hamad considered, on Saturday, that the financial deficit in the budget and the internal debt, which amount to more than 130 trillion dinars, represent two challenges facing the country's economy.

Hamad said in a speech during the Sixth Annual Conference on Finance and Banking Services, which was attended by the Shafaq News Agency correspondent, that the Central Bank of Iraq has an essential role to cover the economy and financial and economic stability, which this year witnessed many and many changes to contribute towards achieving stability in Iraq.

He added that there are great opportunities for the economy, including the gross domestic product and the surplus in the budget law and international oil prices, and despite these opportunities, there are challenges, including the approval of the budget law in a very large size, with public expenditures reaching 198 trillion dinars as planned for this year, with a fiscal deficit. It amounted to 64 trillion dinars, and this in itself is a challenge for the economy and the Central Bank of Iraq in particular.

And Hamad added that there is another challenge, which is the internal debt, which amounted to about 70 trillion dinars. The challenge is facing the monetary authority, as well as the financial mechanism for managing this debt, because it represents great pressure on the various monetary policy tools.

He also said that in the previous edition of the conference, we mentioned the importance of electronic payment and represented it from an important performance to achieve economic growth, financial inclusion and financial depth, and we mentioned that there must be a compulsion to adopt its tools, as it was achieved this year through the great support of the current Iraqi government and efforts Launched by the Central Bank of Iraq, and as you know many of them, especially forcing public and private institutions to use electronic payment tools.

And the Deputy Governor of the Central Bank increased by saying: We have recently witnessed a great movement by the public sector as well as the private sector in adopting electronic payment tools, and this is a very important thing for achieving economic growth and financial affairs in Iraq.

He also pointed out that in this regard, we note that there is an increase and rise in electronic payment tools, various cards, from 6 million cards to 16 million cards, as well as an increase in the number of payment devices from 918 devices to more than 10 thousand devices.

He noted the increase in the number of automated teller machines (ITMs) from 656 to more than 2,000, which is constantly increasing. Also, there is an increase in the number of open and active electronic wallets from 222,000 to more than 3 million, which represents a real shift for the sector.

For his part, Representative Muhammad Nuri said in a speech on behalf of the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, during the same conference, “This conference is a prominent event that brings together academic, banking and specialists minds to come at an important time when the country is witnessing transformations and developments in the financial sector and banking services and contributes to development.” sustainable.”

He added that "financial and banking services play an important role in the Iraqi economy, and we realize the importance of sectors in supporting the economy."

In his speech, Mandalawi stated that "providing financing and credit for small and medium-sized companies and large projects contributes to the development of the business sector and the creation of new opportunities, which enhances economic growth and reduces unemployment, in addition to the banking sector playing an important role in improving the lives of citizens and providing banking services that are widely spread."

He continued, saying, "We have to focus on important issues by providing financial and banking services to enhance financial stability and combat corruption by enhancing transparency and improving the financial and banking system," noting that "the conference is an important opportunity to enhance the development of offering banking and financial services, and we in the legislative authority are working to strengthen the infrastructure Banking and finance and developing modern and innovative means to serve citizens.   LINK