Tuesday Night KTFA CC " FRANK26……1-2-24……AKI GOT HIS ORDERS "

KTFA

Tuesday Night Conference Call

FRANK26……1-2-24……AKI GOT HIS ORDERS

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… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=-iFJ4N7rWR8

Saturday Night Q&A With Frank26 12-30-2023

KTFA

Saturday Night Q&A With Frank26

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#

https://www.youtube.com/watch?v=hVM-ZMoI-_U

Frank26 and Clare at KTFA "News and Views" Friday 12-2-9-2023

KTFA:

Frank26:  "THE 2023 BUDGET IS BEING IMPLEMENTED"..............F26

The Minister of Finance directs the completion of funds and depositing them in the accounts of the spending units of the ministries and governorates

12/28/2023

Minister of Finance, Taif Sami: The continuation of the working hours of employees of the accounting and budget departments, the Central Bank of Iraq / the Department of Information Technology and Computers, and the branches of the Rafidain and Rasheed banks on the next Friday and Saturday, to complete the transfers for investment projects and include the salary differences and the associated transfers on current expenses, in addition to completing and releasing financing from...

It is accepted by the Accounting Department and deposited in the accounts of the spending units of ministries, governorates, and entities not affiliated with a ministry, in the branches of the relevant banks, including the Central Bank of Iraq.    LINK

Frank26:  "SO DO I !!!"................F26

Advisor to the Sudanese: We aspire to the end of the parallel market for the dollar in the coming days

12/26/2023

The media advisor to Prime Minister Hisham Al-Rikabi announced that the government is committed to implementing the electronic payment decision in various ministries.

Al-Rikabi said in a tweet on the {X} website, “In the coming days, we have an ambition to reach the end of the parallel market for the dollar.”

It is noteworthy that the local markets have been witnessing a noticeable decline in the dollar exchange rate for days, as it fell for the first time in months to below 1,500 dinars per dollar.
Al-Rikabi said the day before yesterday that “the battle with the dollar is almost over,” referring to government measures to limit the rise of the currency in the parallel market and bring it close to the official rate at the Central Bank of 1,320 dinars to the dollar.  LINK

**

Frank26: "THE MONETARY REFORM EDUCATION IS LOUD EVERY DAY IN IRAQ!!!".......F26

 The Sudanese advisor details the government measures to curb the dollar

 12/28/2023

The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, on Thursday, detailed the government measures that contributed to curbing the dollar’s ​​momentum.

Saleh told {Al-Furat News} that: “Credit cards, with their high flexibility in use, have provided a direct role in providing easy payments in foreign currency for travel purposes.” 
He added, "The demand for foreign exchange was also met by withdrawing from citizens' dollar accounts after banks were allowed to import dollars from foreign foreign markets in cash for this purpose."

Saleh pointed to “trade regulation with neighboring Turkey to finance trade in the Turkish lira through solid banking channels,” considering all of these factors as “positive that have contained the noise of the illegal parallel exchange market.”

He continued, "In addition to the role of economic policy in enabling the state's commercial arm to provide an additional commodity supply with stable prices, by adopting four additional baskets to provide basic commodities and market support supplies financed at the official exchange rate of 1,320 dinars per dollar."

Saleh described this policy as “price defense that led to a decline in annual inflation growth to 3.7% currently, after that annual price growth was about 7% in the accounts at the beginning of the year.”

From: Raghad Dahham   LINK

************

Frank26:  PROGRAM RATE NO MORE... IN ORDER TO DO THIS".............F26

 Al-Sudani: We will announce 10 new residential cities to reach 250-300 thousand housing units

12/27/2023

The Prime Minister, Muhammad Shiaa Al-Sudani, announced today, Wednesday, that 10 residential cities in Iraq will soon be announced.

A statement from the Prime Minister’s Media Office stated, “Al-Sudani announced, this morning, the launch of work on the new Al-Jawahiri residential city project, in the Abu Ghraib district, west of the capital, Baghdad, one of the five new city projects that were announced as part of the government’s strategy to address the housing crisis.” and reduce overcrowding in major city centres.

The statement added, "This came during a ceremony held on the occasion, attended by a number of ministers, members of the new cities implementation team, and members of the family of the late great poet Muhammad Mahdi Al-Jawahiri, as well as representatives of the Chinese and Iraqi companies involved in the implementation."

He stressed that "the government identified, from the beginning of its duties, the flaw in the housing crisis, and prepared thoughtful plans to address it, which included constructing integrated residential cities, not complexes, and choosing locations for them on the outskirts of Baghdad and the governorates, away from overcrowded areas."

The statement continued, "The government announced 5 residential cities as a first phase, to be built in the capital, Baghdad, Babylon, Karbala, Nineveh, and Anbar, and later 10 new residential cities will be announced in other governorates."

He pointed out, "The goal is to reach 250-300 thousand housing units, targeting the poor and middle classes. There will also be a commitment to housing unit prices to remain stable."

Al-Sudani pointed out, “The New Al-Jawahiri City project will include, for the first time, 25% of the serviced lands, which the government will distribute among citizens according to mechanisms that will be approved.”  LINK

Clare:  A plan to use electronic payment in all government institutions in early 2024

12/29/2023

The government media team confirmed today, Thursday, a trend to use the electronic payment process in all government institutions without exception early next year 2024, while issuing a warning to holders of electronic payment cards.

Lieutenant General Haider Majeed said, “Two days ago, the General Secretariat of the Council of Ministers issued circulars to official authorities, citizens, and employees who hold Qi, Master, and Visa cards (cards used in the electronic payment process), stressing the necessity and importance of being careful not to trade them or shop with them from anyone.” Unknown and unreliable sites or stores, and also do not hand over these cards to unknown persons or hand over their secret numbers in order to protect their money.”

Majeed added, "There is a government trend, early next year, 2024, towards using the electronic payment process in all government institutions without exception, in accordance with the decisions of the Council of Ministers issued and the directives of Prime Minister Muhammad Shiaa Al-Sudani."

He stressed, "The main relevant authorities in the Ministry of Finance and the Central Bank, as well as banks, are working to urge citizens and institutions to automate the electronic payment process in coordination with officially approved electronic payment companies so that it will be a new cultural phenomenon used for the first time in Iraq in years."   LINK

Tuesday Night KTFA CC "FRANK26….12-26-23…IQD UPDATE: THE BLACK MARKET WILL NO LONGER BE !"

KTFA

Tuesday Night Conference Call

FRANK26….12-26-23…IQD UPDATE: THE BLACK MARKET WILL NO LONGER BE !

Black market exchange rates are exchange rates that differ from the officially given exchange rate set by a government.

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… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=0rjejik2QDk

Some "Tuesday News" Posted by Clare at KTFA 12-26-2023

KTFA:

Clare:  The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market

12/25/2023

 After months of unreasonable rise in dollar prices in local Iraqi markets, which caused great exhaustion for families, especially those with limited incomes, the Iraqi dinar was able to break the rise of the dollar, which sometimes reached about 170 thousand for every 100 dollars.

In conjunction with the rise of the dollar, the prices of foodstuffs also rose significantly as they are linked to the dollar, given that most of them are imported and are therefore purchased through the dollar, which caused great discontent in the Iraqi street, which demanded that the government must find solutions to address this unjustified rise.

Yesterday, Sunday, the US Ambassador to Iraq, Alina Romanowski, announced that her country is continuing to provide dollar services to Iraq.

Romanowski said in a tweet on X, “The US Treasury continues its cooperation with the Central Bank of Iraq, as many Iraqi banks have now formed relationships with international banks for the first time.”

She added that it "is considered a positive step in making progress in reforming the banking sector," noting "the continuation of providing US dollar services to Iraq in the interest of economic stability."

A government source had previously revealed that government and private banks had imported $255 million within two weeks.

The source told Earth News Agency, “According to the latest statistics provided by the Central Bank of Iraq, the amount of dollars imported into Iraq within two weeks through some government and private banks is estimated at approximately 255 million dollars.”

He added, “A number of other requests to import the dollar are on their way to being audited and implemented,” expecting that “other amounts will arrive within the next few days.”

In this context, the economic advisor to the Prime Minister, Mazhar Nimhammad Salih, told Earth News Agency, “The monetary policy of the Central Bank of Iraq, based on its Law No. 56 of 2004, has the central and primary goal of stabilizing the general level of prices and fighting inflation, and the largest source of stability of the general level of prices is the exchange rate.” .

Saleh stated that “the bank’s operational objectives are its signals and procedures regarding the banking market and the monetary system as a whole and to achieve its intermediate objectives, which are the stability of the exchange rate so that the exchange rate in the secondary market approaches the official central price in reality, and this approach achieves complete stability in the Iraqi economy.”

 Saleh pointed out that “the monetary policy works in this direction, and the economic policy also supports it, meaning that the state is a large commercial arm and supplies the market with stable, imported goods and supplies on the basis of 1,320 dinars, and all of these factors are combined, whether the economic policy is with the monetary policy of the central bank, its goal is to bring market prices closer.” Parallel and noise in it, although this market constitutes only 10%, but it causes some noise until this noise is eliminated from that market and its prices approach the official price. The monetary policy of the Central Bank exercises its role accurately and positively and in accordance with short and medium-term plans to maintain overall stability in the national economy as a goal. Macroeconomics and monetary policy.

 He pointed out, “The process of importing all types of currencies, including the US dollar, takes place in light of the Central Bank’s permission for all Iraqi banks to meet the foreign currency needs of those banks’ customers.”

Regarding this matter, the specialist in financial and banking affairs, Safwan Qusay, told Earth News Agency, “It is clear that the Central Bank’s policy is to comply with international requirements and cooperate with the US Federal Reserve by allowing the American banks Citibank and JPMorgan to manage international financial transfer operations in a direct relationship with five Iraqi banks at this stage.” The first is through the mediation of a section of Jordanian banks, and it is also possible that five other banks will be added early next year. All of this will lead to reducing the waiting period and dealing with the expansion of the knowledge of small and large Iraqi merchants, and the possibility of having dealings in different currencies.”

He added, "These tools helped restore confidence in the Iraqi dinar and consolidate the trade process with all types of countries and various types of goods. We also note that the reforms of the Sudanese government, which seem to have international acceptance at the level of the United Nations, are in removing Iraq from the circle of dependence on oil only to the circle of economic integration." In all sectors and the search for sustainable revenues from the geographical location of the food industries and the stimulation of commercial activity in Iraq, all of these will also support the Iraqi dinar.”

Qusay pointed out that “the value of the dollar in the informal market will certainly continue to decline with the continuation of government measures to monitor the prices of imported goods at official prices and stabilize their sale process and not allow them to be sold at shadow market prices. The strong relationship with the Turkish side will allow for the resumption of Iraq’s oil exports and trade openness to the European system through Turkey.

The exchange rates of the dollar against the Iraqi dinar fell in the local markets today, Monday, to below 150,000 per 100 dollars, after it had recorded more than 155,000 per 100 dollars during the past days.   LINK

*************

Clare:  Selling an Iraqi currency dating back to the era of “King Ghazi” for 100 thousand pounds sterling

12/25/2023

 A very rare Iraqi currency dating back to the royal era was sold in the country, today, Monday, at a fantastic price of 100,000 pounds sterling, or approximately 187 million Iraqi dinars.

According to a report by the American “Alam Queen” magazine, translated by “Al-Ghad Press,” “a sample of a 100-fils banknote from Iraq dating back to 1941, printed in India during World War II, was sold for a price of 100,000 pounds sterling (126,400 US dollars) at the paper auction.” Noonan Mayfair's 1,000-piece global coin launch on November 29 and 30. It was expected to fetch £50,000-£70,000. 

The report added, “The memorandum bears the serial number  O/00 000000 and contains a picture of King Faisal II as a child in a frame on the right side. It was printed by the Nasik Press in India and given to the first director general of finance in Iraq, Abraham the Great. The sender was one of his descendants, called The big one too.” 

He continued, "Andrew Pattison of '  Noonans ' said it was an almost legendary note; it had never been offered at auction before and was unlikely to come up again. The note had been issued for weeks, and only one low-grade example is believed to have survived. It has This auction represented the only opportunity to complete the Iraq series once and for all.” 

The report stated that “Among the exhibits also, and from the same sender, is a sample of a 50 fils banknote from 1944 bearing the serial number  A000000 and a similar picture of King Faisal II when he was a child, but on the left. It reached 50 thousand pounds sterling, with an estimate ranging from £30,000 to £40,000.” 

He pointed out that "there is another distinctive piece, which is the highest denomination and rarest Swedish currency ever issued, which is a 10,000 kroner banknote dated 1939 from the  Sveriges Riksbank . It was sold for 17,000 pounds sterling."   LINK

Clare:  What are the reasons for the continuous decline in dollar exchange rates?.. A parliamentarian answers

 12/25/2023  Baghdad 

Member of the House of Representatives, Suhaila Al-Sultani, on Monday explained the reasons for the decline in the dollar exchange rates after months of rise, while confirming that the results of the successful measures and decisions taken by the government and the Central Bank have begun to be translated into reality.  

Al-Sultani said in an interview followed by Mawazine News, that “the dollar exchange rates will witness a significant decline in the local markets compared to the rise that the parallel prices reached in the previous period,” noting that “the government’s continued taking the right steps in this file will reduce the gap between the official and parallel rates.” almost". 

She continued, "The campaign of arrests and prosecution of currency speculators had an effective role in keeping the Iraqi dinar from collapsing," adding that "the Central Bank's decisions work to match the parallel and official dollar exchange rates."   

The member of the House of Representatives added, “Controlling the dollar file, in light of the major violations in this file, will not be instantaneous and will need a period of time in order to impose it on the local markets,” noting that “the results of the successful measures and decisions that the central bank government took have begun to be translated on the ground.” reality". LINK

***********

Clare:  Central Bank of Iraq.. Our procedures have revolutionized the financial and banking sector

12/26/2023  Independent/-

Assistant Director General of the Department of Investment and Foreign Remittances at the Central Bank of Iraq, Muhammad Yunus, confirmed that the Central Bank’s measures were a “revolution” in the financial and banking sectors, indicating that the Central Bank has begun to reap the fruits of the recent measures.

Younis said, in a press statement followed by Al-Mustaqila on Tuesday, that “the Central Bank’s measures contributed to enhancing transparency and governance of financial institutions, improving services provided to citizens, and increasing confidence in the Iraqi economy.”

He added, “The Central Bank will continue to take important economic measures in 2024, with the aim of achieving economic stability and promoting growth.”

Younis pointed out that “Iraqi banks opened accounts in Europe and some countries for the first time, after complying with international standards.”

He pointed out that “compliance with international standards facilitated the trade financing process and contributed to increasing Iraqi exports.”

The following are the most important measures taken by the Central Bank of Iraq:

Issuing the new Central Bank of Iraq law, which regulates the bank’s work and subjects its budget to parliamentary oversight.

Forming a committee to combat money laundering and terrorist financing, which works to enhance transparency in the financial sector.

Issuing new instructions to commercial banks, obligating them to follow corporate governance standards and combating money laundering and terrorist financing.

Starting to implement the electronic payment system, which aims to facilitate financial transactions and increase transparency.

These measures come within the framework of the Iraqi government's efforts to reform the financial and banking sector and enhance confidence in the Iraqi economy.   LINK

************

Clare:  Government media announces the measures taken to adopt electronic payment

12/26/2023  Baghdad

Today, Tuesday, the government media team announced the measures taken to adopt the electronic payment system, and while confirming that the file receives direct attention from the Prime Minister, it pointed to the implementation of electronic payment in the departments and institutions of the Ministry of Health early next year, 2024.

The team’s spokesman, Haider Majeed, told the Iraqi News Agency (INA), followed by “Al-Eqtisad News,” that “the file of electronic payment and the use of electronic point-of-sale (BOS) devices is one of the files that receives direct attention from Prime Minister Muhammad Shiaa Al-Sudani, who directed the importance of adopting This file will be discussed during the next stage.”

He pointed out, "There are many procedures regarding adopting the electronic payment system, as the government media team held meetings with the relevant authorities, including the Ministries of Finance and Oil, as well as the Central Bank of Iraq, to ​​develop a specific mechanism."

Majeed added, "The first entity to implement the electronic payment system was the Ministry of Oil regarding government gas stations, then the rest of the ministries and departments such as the Ministries of Health, Interior, Labor, Social Affairs, and a number of ministries that have direct contact with the lives of citizens, and in which collection is required."

He pointed out that "the Ministry of Oil issued a decision to use electronic payment for all government and private gas stations throughout the governorates, and special cards will also be issued for government vehicles."

He continued: "The Ministry of Health will also implement the electronic sales system in public departments, clinics, and health insurance at the beginning of next year, 2024, in addition to the measures taken now in the Passports Directorate to collect funds for issuing and renewing passports from citizens."   LINK

KTFA Thursday Night CC "FRANK26…..IQD UPDATE…..12-21-23……I LIKE THINGS IN 3’s"

KTFA

Thursday Night Conference Call

FRANK26…..IQD UPDATE…..12-21-23……I LIKE THINGS IN 3’s

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… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=azwMEGi0YRw

Frank26 and Clare "News and Views" at KTFA Wednesday 12-20-2023

KTFA:

Clare:  The Iraqi Trade Bank decides to stop working on money transfers, starting next Sunday

12/20/2023

The Iraqi Trade Bank decided to stop working on financial transfers, starting next Sunday

In a statement, a copy of which {Al-Furat News} received, the bank explained the reason for stopping work on financial transfers: “For purposes related to the annual inventory, it was decided to stop work on money transfers starting from Sunday, 12/24/2023,” noting that “the last date for receiving financial transfer requests will be on Thursday, 12/21/2023.

He added, "This service will resume work on Wednesday, 01/03/2024."  LINK

Frank26:  "FOR THE SUCCESS OF THE MONETARY REFORM... FOR NO OTHER REASON!!!".........F26

Advisor to the Prime Minister: Iraq today has the highest levels of foreign reserves in its financial history

12/17/2023  Baghda

Advisor to the Prime Minister, Mazhar Saleh, confirmed that Iraq today has the highest levels of foreign reserves in its financial history.

Saleh defended the banking restrictions aimed at “verifying these transfers,” with the aim of reassuring “the international financial community and also for reasons related to Iraqi society: Do these transfers actually go to finance Iraq’s trade?”

He added, “What is happening has nothing to do with the strength of the Iraqi economy. Iraq today is at the highest levels of foreign reserves in its financial history.” Rather, “structural changes have occurred in issues of dealing with foreign currency.”  LINK

************

Frank26:  "BECAUSE OF THE FINAL DAYS OF THE MONETARY REFORM PROCESS, KTFA FAMILY PAY CLOSE ATTENTION TO THIS ARTICLE!!!".........F26

 Association of Banks: The battle with dollar speculators has reached its final round

 12/15/2023

 The Iraqi Private Banks Association said today, Friday, that the battle with dollar speculators has reached its final round, and while it praised the Central Bank’s measures to regulate the movement of funds to achieve financial and bank reform, it confirmed that it will contribute to reclassifying banks, increasing their capital and raising the level of services provided. For citizens.

The economic and banking advisor to the association, Samir Al-Nusairi, told the Iraqi News Agency (INA): “The Central Bank’s measures and efforts that have been made since the beginning of 2023, with the support of the government, have yielded results and have begun to give results according to what was planned.” The so-called parallel (black) dollar has begun to die, and the speculators who deal with it have been besieged to harm the national economy, and currently the battle is with them in the final round.”

He added, “This is what was stated in detailed procedures and administrative, technical, and negotiating steps.” With the US Federal Bank and the US Department of the Treasury and the understandings related to regulating the financing of foreign trade by approving the opening of accounts for Iraqi banks in American, Chinese, Emirati and Turkish correspondent banks to deal directly with them for external transfers in the currencies of these countries, which include the dollar, euro, Chinese yuan, Indian rupee, Emirati dirham and Turkish lira, and leaving the electronic platform in The year is 2024

And the supply of dollars and foreign currencies into Iraq from Iraqi bank accounts at correspondent banks or abroad. Reaching agreements to open 40 accounts for Iraqi banks in correspondent banks for foreign trade,” noting that “the Central Bank’s new strategy to reform the banking sector will adopt the reclassification of banks and increase their capital to the ceiling set by the Central Bank in accordance with the specified time frames until the end of 2024

Which will lead to... Raising the capabilities of our banks to provide the best banking products and services to customers, which will reflect positively on the movement of the economy, investment, development and the transition to comprehensive digital transformation.” He added, “Since the beginning of the year 2023, financial policies have been reconsidered according to a new vision for banking reform that complies with the requirements of the global financial system, and a new strategy has begun to be implemented with mechanisms based on studying and diagnosing the causes of the imbalance and determining the road map and the executive steps and procedures that will be implemented.”

 It has been and will be implemented at the level of the departments of the Central Bank, banks, bodies supporting banking work, and government agencies related to comprehensive economic reform, as the Central Bank has previously issued new instructions for external transfers for the year 2023 and three procedural packages to facilitate and control the circulation of foreign currency in the monetary and commercial market.

Al-Nusairi added, “In August of this year, the Central Bank issued its important statement in which it defined its new strategy for organizing the financing of foreign trade according to new foundations that move Iraq to the stage of regularity in the global financial system, and in which it explained the executive procedures to control the stability of the exchange rate.” Among its most prominent items: adopting the electronic platform exclusively for foreign transfer transactions, controlling illicit trade through official and unofficial border crossings, stopping trading and transactions in dollars on the black market, preventing all websites and media television channels from publishing exchange rates on the black market due to their violation of the law, and importers proving that all Their imports were made through the platform and at the official price, and the Customs Authority and the General Tax Authority implemented proposals and procedures for small merchants to enter the platform in accordance with the rules, and this is consistent with the government’s initiative to launch the national project to control prohibited imports.

He continued, “And we In the last days of 2023, the Central Bank’s strategy for banking reform in all its axes became clear for the coming year 2024 and subsequent years, and it is an embodiment of what it specified in the road map that it clarified in cooperation with the government in accordance with what was stated in the government’s curriculum in Axis 12 (Financial and banking reform) and paragraph 7 thereof and special By developing and enabling banks to contribute to development and investment.”

He explained, “Here we can summarize the Central Bank’s plan, which it is currently working to implement accurately, as follows:-

First - Providing a stable financial system lies in accompanying financial electronic systems. 

Secondly - Commitment to consolidating the rules of compliance, risk management, transparency and safety of financial operations.

 Thirdly - The transition from the cash economy to the digital economy and what is called the fourth revolution and the accompanying measures that have achieved a shift. Quality of dealings between the government and the central bank. 

Fourth - Implementing the financial and banking reform plan that is characterized by international standards keeping pace with global developments in the field of the financial digital economy.

Fifth - Working to strengthen international relations, including establishing a network Relations with foreign correspondent banks.

Sixth - Establishing Riyada Bank in line with the Prime Minister’s initiative and redirecting work on initiatives to finance small and medium enterprises in accordance with specific standards.

 Seventh - Preparation Launching a strategy for financial inclusion and putting it into effect in coordination with relevant authorities.

 Eighth - Launching the national lending strategy, relying on the banks’ own financial capabilities to attract deposits and invest them in providing the best banking products to customers and contributing to development.     LINK

Frank26:  "OF COURSE TOOPIT LOL!!!"...........F26

Will agreements with international banks contribute to solving the monetary problem in Iraq?

12/16/2023 Follow-ups|..

Economic researcher, Ziad Al-Hashemi, confirmed on Friday that the agreements with the banks of the Emirati First Gulf, Turkish Labor, Singaporean Development and others will not end the monetary problem in Iraq.

Al-Hashemi said in a post on the “X” platform followed by “Newspaper”, that “it is expected that these agreements will provide multiple cash alternatives that will help the merchant.” Iraqis can transfer their trade funds quickly and flexibly and reduce dependence on the dollar in foreign transactions.”

He explained, “These agreements will also help reduce the demand for the parallel dollar by attracting the segment of merchants who previously turned to the parallel dollar in search of quick transfers away from the platform, its complications, and delayed approvals.”

He added, “However, the demand for the cash dollar will remain high, and the official dollar will continue to be withdrawn and converted into a parallel dollar by powerful parties that own huge amounts of dinars, and have no relation to regular or official commercial work, and will continue to put pressure on the Iraqi economy to obtain the dollar in all ways and means.”

He continued, “This fact was confirmed by the exchange rates during this period, which maintained their high levels and did not decline despite these agreements and despite hundreds of millions of (imported dollars). This is what makes the exchange rates ready to rise at any moment and with any new event.”

He stated, “Despite the Federal Reserve’s tightenings and the Central Bank’s attempts, it is expected that the problem of the cash dollar, the parallel dollar, and the imbalance in exchange rates will continue with us during the coming year, and we are waiting for more stringent, serious, and courageous solutions to end this problem from its roots.”   LINK

****************

Frank26:  "FROM THE IMF, FROM THE HORSE'S MOUTH... GIVES PERMISSION TO PULL THE FINANCIAL LYNCHPIN ON THE GRENADE OF THE MONETARY REFORM !!! !!! !!!"............F26

IMF Staff Concludes Staff Visit with Iraq

December 19, 2023

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board.

Economic activity is recovering, although oil production cuts are weighing on overall growth, and at the same time inflation has declined.

The large fiscal expansion in the three-year budget law poses significant risks to fiscal and external sustainability over the medium term.

Fiscal prudence and structural reforms are critical to safeguard macroeconomic stability, ensure sustainability, and achieve durable and more inclusive growth.

Washington, DC: A staff team of the International Monetary Fund (IMF) led by Jean-Guillaume Poulain met with the Iraqi authorities in Amman, Jordan during Dec 12-17 to discuss recent economic developments and outlook as well as policy plans.

At the end of the mission, Mr. Poulain issued the following statement:

“Against the background of a large fiscal expansion, non-oil GDP is expected to grow by 5 percent in 2023. Continued budget execution should help sustain strong non-oil growth in 2024. However, lower oil production, following the closure of the Iraq-Turkey pipeline and OPEC+ production cuts, will reduce overall GDP growth in 2023 and 2024.

 Inflation has declined from its January peak and is projected to stabilize in the coming months—helped by the Central Bank of Iraq’s (CBI) tighter monetary policy, passthrough from the exchange rate revaluation, lower international food prices, and normalization of trade finance as compliance to the new anti-money laundering/combating the financing of terrorism (AML/CFT) [GM1] framework improved.

“The three-year budget approved in June 2023 marked a shift in Iraq’s budgeting practice, envisaged to improve fiscal planning and continue important development projects over the medium term. Despite a late start of budget implementation, the fiscal balance is expected to shift from a large surplus in 2022 to a deficit in 2023. Staff projects that the deficit would widen further in 2024 reflecting the full year impact of recent measures. The large fiscal expansion, including a substantial increase in public hiring and pensions creates permanent spending that will put pressure on public finances over the medium term.

“Ensuring fiscal sustainability, in context of uncertain outlook for oil prices, requires gradually tightening the fiscal policy stance while safeguarding critical infrastructure and social spending needs. This would require mobilizing additional non-oil revenues, containing the large government wage bill, and reforming the pension system. These measures should be supported by moving toward a more targeted social safety net that better protects the vulnerable.

“The mission welcomed the government’s plans to strengthen public financial management including steps towards the establishment of the Treasury Single Account. In this context, the mission reiterated the importance of adhering to the framework for managing government guarantees.

“The CBI has appropriately tightened its monetary policy, including by increasing its policy rate and reserve requirement. The mission welcomed the progress in strengthening the domestic liquidity management framework and encouraged continued efforts to mop up excess liquidity and develop an interbank market to strengthen monetary policy transmission.

“Structural reforms to spur private sector led economic diversification and job creation remains pivotal for sustainable and inclusive growth. Priorities include creating a level playing field for the private sector through banking and electricity sector reforms, reducing distortions in the labor market, and continuing efforts to enhance governance and reduce corruption.

“The IMF staff team stands ready to support the authorities in their reform efforts and would like to thank them for candid and productive discussions during this mission.”

https://www.imf.org/en/News/Articles/2023/12/18/pr23462-iraq-imf-staff-concludes-staff-visit?cid=em-COM-123-47669

Monday Night KTFA CC " FRANK26….IQD UPDATE……12-18-23….TWO GOOD IDEAS"

KTFA

Monday Night Conference Call

FRANK26….IQD UPDATE……12-18-23….TWO GOOD IDEAS

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… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=n0MV-wvln58

Frank26 and Clare "Iraqi News" Friday 12-15-2023

KTFA:

Frank26:  "COME & SEE ME FOR AN ANSWER... ON JAN 1ST 2024"...............F26

 A banking expert answers: Is it possible to ban dealing in the dollar?

12/14/2023  Private|..

Banking expert, Mahmoud Dagher, on Wednesday, ruled out the possibility of the Central Bank of Iraq preventing dealing in dollars in the country.

Dagher told Jarida , “The Central Bank cannot prevent dealing in the dollar, as there is nothing in the banking law or in the instructions of the Central Bank that supports this approach, so they have no right, and dealing in the dollar will continue as dealing with the dinar.”

He stressed that “there are huge bank accounts for depositors in dollars, so it is unlikely to prevent dealing with it,” stressing the necessity of “arranging the status of the dinar instead.” LINK

Frank26:  "MONETARY REFORM SPREADING LIKE AN AMOEBA INSIDE OF IRAQ!!!"............F26

 Al-Rafidain clarifies regarding issuing electronic cards and opening bank accounts

12/13/2023  Baghdad
Today, Wednesday, Rafidain Bank issued a clarification regarding issuing electronic cards and opening bank accounts.

The bank's media office stated in a statement received by Al-Iqtisad News that "the process of issuing electronic cards and opening bank accounts is proceeding at an increasing pace from the bank's branches spread throughout Baghdad and the provinces."  LINK

**************

Clare:  Member of Parliamentary Investment: An economic forum in Iraq attended by giant foreign companies

12/15/2023

Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.

Al-Bazouni told Al-Furat News Agency, “Basra is considered a good incubator for investment, especially foreign investment, as large foreign companies intend to invest in the province, and all of this requires security stability to attract investors.”

He stated that “the Ministry of Industry’s adoption of the Investment Partnerships Forum in the presence of investors and giant foreign companies is considered a good step with the presence of the security, investment and environmental incubator.”

Raghad Dahham   LINK

***************

Clare: The Netherlands is considering concluding a memorandum of understanding for the entry of its companies into Iraq

12/15/2023

The Kingdom of the Netherlands is examining the possibility of concluding a joint memorandum of understanding with Iraq to facilitate the entry of its companies into the Iraqi market. A statement by the Federal Integrity Commission stated, “Judge Haider Hanoun discussed, on the sidelines of the tenth session of the Conference of States Parties to the United Nations Convention against Corruption, the possibility of instructing European companies to operate inside Iraq;

“There is a valid legal basis for work, as well as a serious confrontation of corruption, and a noticeable improvement in the security situation.” According to the statement, Hanoun referred to “the cooperation of international and regional organizations and their assistance to Iraq.” To confront corruption and limit its effects,”

Pointing to “the programs supported and funded by the European Union mission in Iraq, including the project to support justice initiatives to combat corruption and promote the settlement of commercial disputes, which aims to address the legislative and strategic gaps in combating corruption in Iraq, and improve the capacity and legal framework to conduct Commercial litigation, and engaging civil society, media, and citizens in constructive dialogue; In order to achieve reform in the fight against corruption.”

Hanoun called on the European Union mission to “continue communicating and cooperating with the Commission and supporting its investigators and training them technically through technological means through surveillance and photography, due to the importance of these tools in carrying out seizure operations and taking into account human rights.”   LINK

Clare:  Sudanese: Economic reform is the gateway to financial and banking reform

12/14/2023

The Prime Minister, “Mohamed Shiaa Al-Sudani,” said today, Thursday, that: “Economic reform is the gateway to financial and banking reform,” while noting that “the government is committed to providing the dollar at the official rate, and stressed its keenness to end the suffering Kurdistan employees due to the delay in their salaries” 

Al-Sudani said in a televised interview followed by “Al-Mutalaa” that: “Conducting the population census is the first step in implementing Article 140 of the Constitution. It was postponed to May 2024 after it had been scheduled.”

It was held this year due to the provincial council elections,” pointing out, “It is time to remove the outstanding problems between Baghdad and Erbil, which lie in the border crossings and the budget.” He added, “We went to borrow from the Ministry Finance to pay the salaries of Kurdistan Region employees, and we are in favor of finding a solution with a legal amendment that considers Kurdistan Region employees as equal to the rest of Iraq’s employees,” stressing that “the government is keen to end the suffering of the Kurdistan employees’ salaries crisis.”

He stressed on the part of Another, “Economic reform is the gateway to financial and banking reform, and the issue of the exchange rate requires this reform, and we are committed to providing the dollar at the official rate to merchants, investors, contractors, students, and travelers.”

He pointed out that “95 percent of our trade now passes through Through the electronic platform, there are those who circumvent the law and buy the dollar at the parallel price. Because he does not want to apply legal procedures.” He stressed, “We will not accept that the official dollar price is equal to the parallel price; Because this encourages smuggling.”

Regarding foreign trade, Al-Sudani said: “There is no problem on the Iranian side in dealing commercially with Iraq in the dinar or toman currencies.”

He continued: “The problem of commercial transfers to Turkey was solved by opening accounts in the Turkish lira.” He stressed that “food prices maintained their stability, despite the attempts of manipulators to speculate on the price of the dollar.”  LINK

Wednesday Night KTFA CC "FRANK26…..,12-13-23…….YOU CAN BANK ON IT"

KTFA

Wednesday Night Conference Call

FRANK26…..,12-13-23…….YOU CAN BANK ON IT

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… ORANGE= IMPLEMENTATION

https://www.youtube.com/watch?v=Lwc9MR3GaU4

Frank26 and Clare from KTFA "News and Views" 12=13=2-23

KTFA

Frank26:   "WHY... IS THERE A RATE CHANGE COMING???!!!"..........F26

Parliamentary Finance: Spending only 20% of the current year’s budget

 12/12/2023 Baghdad: Shaima Rasheed

 The Parliamentary Finance Committee revealed that the government has spent only 20% of the current year’s budget, and expected to release the rest of the budget on December 20, indicating that the government’s move towards currencies other than the dollar will reduce the pressure on demand for it and thus reduce its prices. (IF THE EXCHANGE RATE DOES NOT GIVE VALUE TO THE DINAR THEN THE GOI/CBI WILL SUFFOCATE EVERYTHING IN IRAQ!!! -F26 ) 

Committee member, Jamal Kujar, said in an interview with “Al-Sabah”: The government has spent only 20% of the current year’s budget, and it is assumed that after December 20, a good portion of the budget will be spent for a period of five days until the accounts are closed, noting that with the beginning of New Year Next year's budget schedules are sent.  ( )

He pointed out that the government's move towards currencies other than the dollar will facilitate the issue of trade, (THIS IS THE INTERNATIONAL BASKET!!! -F26 ) on the one hand, and push traders to deal with the platform (THE FLOAT!!! -F26 ) more and reduce pressure on the dollar instead of focusing on it, stressing that it will contribute to stabilizing its official price. 
(REER!!! -F26 )    LINK

Frank26:  "THIS IS A FIRST... FOR THE MONETARY REFORM PROCESS"............F26

The Central Bank decides to establish the National Company for Electronic Payment Systems in Iraq

December 13, 2023

The Board of Directors of the Central Bank of Iraq decided to establish the “National Company for Electronic Payment Systems in Iraq,” indicating that the company represents a qualitative development in the structure of the country’s financial infrastructure.

He stated that the new company will assume responsibility for developing, operating and managing the national electronic payment and clearing systems with high efficiency and adding new elements to serve the electronic payment environment.

He added that the role of the Central Bank of Iraq will revolve around organizing and supervising these systems, and that implementation will begin and the legal, executive and operational framework for the company will be established with the participation of all interested parties, in accordance with the Bank Law and the applicable legislative frameworks.

It is noteworthy that this step coincides with the rapid growth in electronic financial services and products and the increase in the number of users in accordance with the framework of the government program to support and adopt advanced electronic payment systems.

 Central Bank of Iraq
Information Office
December 13, 2023

https://cbi.iq/news/view/2485

************

Frank26:  "NEXT YEAR THIS NUMBER WILL BE DOUBLED... BECAUSE OF IRAQ'S POTENTIAL IN THE WORLD!!!"..........F26

Central Bank of Iraq: Our imports from the UAE exceed $21 billion annually

12/13/2023

The Central Bank of Iraq revealed, on Wednesday, that Iraq’s imports from the UAE exceeded $21 billion in 2022, indicating that dealing in the UAE dirham will be with the same mechanism adopted with Turkey and India.

Assistant Director General of Investments at the Central Bank, Muhammad Younis, said in an interview with Shafaq News Agency, “Dealing in the UAE dirham will help cover our imports, which last year amounted to 21 billion and 478 million and 796 thousand dollars,” noting that “dealing in the dirham will avoid us dealing in the dollar, which "Subject to scrutiny."

He continued, "The UAE dirham will contribute to facilitating the process of financing trade from the Emirates and reduce pressure on the secondary market because many Iraqi merchants cannot transfer dollars to the Emirates, which is also subject to auditing and delays."

He pointed out that "the bank deals in the local currency of other countries. We started first with the Chinese yuan and we are in the final stages, and with Turkey in the lira, and with India also in the rupee."

The Governor of the Central Bank, Ali Al-Alaq, announced the agreement with the Abu Dhabi Bank Group to launch financial transfer operations between the two countries and finance trade and imports between Iraq and the United Arab Emirates in the UAE dirham currency.

It is noteworthy that First Abu Dhabi Bank is one of the largest and strongest financial institutions in the world, with a credit rating of AA-, and its total assets amount to about 300 billion US dollars.   LINK

Clare:  Kurdistan will suspend working hours starting December 25th

12/13/2023

Kurdistan Region: Disruption of official working hours starting from December 25 until January 1, 2024 on the occasion of New Year’s Day.

LINK

************

Clare:  Sudanese directs to link the Central Bank, customs and border crossings

12/13/2023

Prime Minister Muhammad Shiaa Al-Sudani held, before noon on Wednesday, a special meeting of the Networking Committee for Border Ports, in the presence of a number of government advisors.

A statement issued by Al-Sudani's office stated that the latter "listened, during the meeting, to a comprehensive presentation of the port networking project, the system designed to manage it and the unified and central database it provides, in addition to the possibilities of interconnection with the controls in order to enhance security and follow up on transit trucks."

The statement added that Al-Sudani "was briefed on the developed electronic declaration system, the smart tracking system inside the ports for trucks, and the obstacles to completing the project, which began work on in March 2023, and which will reduce time and limit financial corruption, smuggling operations and customs manipulation."

According to the statement, the Prime Minister stressed the need for the draft system to include broad automation in the processes related to border crossings, secure their work in a centralized manner, and create a unified examination image that contains all the required information, directing that reliance on the human factor be reduced to the maximum extent.

The statement continued that Al-Sudani "directed to accelerate the integration of the link between the departments, in order to reach a state of linkage between the Central Bank, Customs, border crossings, and all sectoral departments, praising the efforts made to complete the work of this system and implement it to its full potential."    LINK