"Tidbits From TNT" Thursday 10-12-2023
TNT:
CandyKisses: Parliament moves to hold the governor of the Central Bank and bank managers accountable for the dollar crisis
Baghdad - Iraq Today:
The Parliamentary Finance Committee confirmed that next week bank managers and the governor of the Central Bank will be hosted to discuss the dollar crisis.
Committee member Mustafa al-Karawi said in a press statement that "the parliamentary finance committee intends to host the governor of the Central Bank and bank managers to discuss the dollar file and the crisis caused by its rise."
Al-Karawi added that "the hosting will include a discussion of the reasons for non-compliance with the reform packages and the measures taken earlier to control the dollar exchange rate." He pointed out that "the features of the new plans to control the dollar file will be determined after hosting those concerned in this matter."
TNT:
CandyKisses: Parliament moves to hold the governor of the Central Bank and bank managers accountable for the dollar crisis
Baghdad - Iraq Today:
The Parliamentary Finance Committee confirmed that next week bank managers and the governor of the Central Bank will be hosted to discuss the dollar crisis.
Committee member Mustafa al-Karawi said in a press statement that "the parliamentary finance committee intends to host the governor of the Central Bank and bank managers to discuss the dollar file and the crisis caused by its rise."
Al-Karawi added that "the hosting will include a discussion of the reasons for non-compliance with the reform packages and the measures taken earlier to control the dollar exchange rate." He pointed out that "the features of the new plans to control the dollar file will be determined after hosting those concerned in this matter."
Tishwash: Al-Sudani returns to Baghdad after a visit to Moscow
Prime Minister Muhammad Shiaa Al-Sudani concluded a visit to the Russian capital, Moscow, which he visited yesterday, Tuesday.
Al-Sudani's office said in a brief statement that the Prime Minister returns to the capital, Baghdad, after concluding his official visit to the Russian capital, Moscow.
The Sudanese held discussions with Russian President Vladimir Putin, which dealt with political, economic and security issues in the region. link
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Tishwash: Parliamentary Energy: Work is continuing towards passing the oil and gas law
Member of the Parliamentary Oil and Energy Committee, Suhaila Al-Sultani, confirmed on Thursday that work is continuing by the government and political parties in order to resolve the oil and gas law, overcome obstacles, and give priority to the public interest to move towards legislating the law within Parliament.
Al-Sultani told Al-Maalouma, “There is ongoing work between the various political parties to resolve the oil and gas law file, finalize it, and hand it over to the House of Representatives in order to include it on the agenda of one of the sessions for the purpose of discussion, reading, and voting.”
She added, "The Al-Sadiqoun bloc and other representatives have agreed on the importance of passing this law because it guarantees the fair distribution of wealth to all Iraqis and the protection of this wealth from any influences." link
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CcandyKisses: The dollar will be reduced in Iraq. New government project unveiled for trade with 3 countries
Information/private.
Today, Wednesday, the State of Law Coalition revealed a new government project related to trade exchange between Iraq and three countries, while clarifying America's position on that, between its impact on the dollar.
The leader of the coalition, Jassim Mohammed, said in an interview with the agency / Information /, that "there is a new government project to adopt currencies other than the dollar to deal with several countries, including China, Iran and Russia," stressing that "this project, if applied correctly, will work to reduce the demand for dollars in the Iraqi markets."
He added, "The project to create a currency for exchange between Iraq and these countries will greatly affect the dollar and will lead to a decline in its prices," stressing that "the current rise in dollar exchange rates in Iraq will not be able to be reduced by any party, whether the central bank or others, as long as the demand for it is high." .
Regarding America's position on the new project, Muhammad explained, "America has no relationship with this project, and it does not matter whether or not it agrees to the project to create a currency other than the dollar for Iraqi commercial transactions, provided that there is a will from Iraq and these countries."
The leader of Al-Maliki's coalition stated, "Iraq is required to believe in this issue and adopt this project during the coming period, and the need to overcome the stage of fear and anxiety about the results."
Earlier in the day, Prime Minister Mohamed Shia al-Sudani said his country is ready to join the BRICS group, noting that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in trade transactions between the two countries.
The Parliamentary Planning Committee has confirmed that the continuation of the crisis of the rise in the dollar exchange rate is contrived aimed at harming the Iraqi economy, while pointing to the existence of hidden hands used by the American side as a pressure card to embarrass the government through the dollar file
She explained that "even though political confusion occurred over this law, the law is one of the very important laws for the Iraqi people, and the public interest requires that it be passed within Parliament through consensus among the representatives."
Mot: If you’re having a bad day, it could be worse…
Mot: ... History Lesson! - When it Happened!!!
The Chinese Yuan Doesn't Pose A Credible Threat To The US Dollar, According To RBC.
The Chinese Yuan Doesn't Pose A Credible Threat To The US Dollar, According To RBC.
George Glover Tue, October 10, 2023
Don't worry about dedollarization – the yuan has a 'paltry' share of reserves, so the buck is going nowhere, RBC says. De-dollarization talk has gathered steam – but there's little reason to worry, according to RBC Wealth Management.
The rival yuan doesn't pose a credible threat to the buck, strategist Alan Robinson said in a recent research note.
The Chinese Yuan Doesn't Pose A Credible Threat To The US Dollar, According To RBC.
George Glover Tue, October 10, 2023
Don't worry about dedollarization – the yuan has a 'paltry' share of reserves, so the buck is going nowhere, RBC says. De-dollarization talk has gathered steam – but there's little reason to worry, according to RBC Wealth Management.
The rival yuan doesn't pose a credible threat to the buck, strategist Alan Robinson said in a recent research note.
"While China would like its renminbi to topple the dollar, that currency's share of global reserves remains a paltry 2.5%," he wrote.
All the de-dollarization talk of the past few years is probably just noise – because no other currency will be able to unseat the greenback, according to RBC Wealth Management.
Global portfolio manager Alan Robinson said last week that rivals like the euro, the Japanese yen, and the Chinese yuan don't hold a big enough share of the world's reserves to give fans of the buck any cause for concern.
"What could replace the dollar as a reserve currency? The two closest challengers, the euro and the yen, have grown their share of reserve holdings, but not to the extent of the dollar's losses," he said in a research note seen by Insider.
"And while China would like its renminbi to topple the dollar, that currency's share of global reserves remains a paltry 2.5%, although certain authoritarian regimes seem increasingly attracted to the currency."
"We don't think any single currency is positioned to replace the dollar in the global reserve system," Robinson added.
The dollar still accounts for over half the world's total reserves even though its dominance has steadily declined since 2000, according to data from the International Monetary Fund.
The greenback had a 59% share of global reserves at the end of the second quarter of 2023, per the IMF. That dwarfs the combined share of 27% held by the euro, yen, and yuan.
Read the original article on Business Insider
Goldilocks' Comments and Global Economic News Wednesday Evening 10-11-23
Goldilocks' Comments and Global Economic News Wednesday Evening 10-11-23
Good evening Dinar Recaps,
Trading Reforms, Tax Reforms, T+1 settlements on the markets, Vietnamese platforms being placed on US market platforms, Electronic Crypto Reforms, Global Tax Reforms for emerging markets, Digital Trade Reforms, and more.
This is just a few items that are taking place every day in creating the new digital payment system.
Goldilocks' Comments and Global Economic News Wednesday Evening 10-11-23
Good evening Dinar Recaps,
Trading Reforms, Tax Reforms, T+1 settlements on the markets, Vietnamese platforms being placed on US market platforms, Electronic Crypto Reforms, Global Tax Reforms for emerging markets, Digital Trade Reforms, and more.
This is just a few items that are taking place every day in creating the new digital payment system.
As we continue to globally tokenize our assets and move into Protocol 20 in the banking system that allows for Quantum Technologies to be interfaced going forward, just know that people, and places, and organizations around the world are about to change the way we live.
Is important to embrace this fact. Nothing can change what is about to happen.
© Goldilocks
https://dashboard.stellar.org/
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BREAKING NEWS
CHINA HAS SAVED ALMOST $10 BILLION THIS YEAR THROUGH RECORD PURCHASES OF OIL FROM COUNTRIES UNDER WESTERN SANCTIONS
Awkward?
Read: https://x.com/goldtelegraph_/status/1711972692818292798?s=46
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US credit downgrade means junk sovereign bonds now outweigh AAA debt for the first time, Fitch says
Active junk bond markets indicate the market is overbought. Investors pull back during these times and do not take as many risks. It causes Market volatility and downturns.
© Goldilocks
Business Insider Link
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The role of Google, Amazon and Immutable in the development of the web3 industry
Google Cloud and Amazon Web Services (AWS) have demonstrated several times in recent months that they are willing to invest in the crypto world, especially in the development of the web3 industry.
Today the decentralized game platform Immutable announced a strategic partnership with Amazon to accelerate the onboarding of game developers into the web3 and promote digital ownership of objects to millions of players worldwide.
Amazon’s role will be critical in this context because within its AWS cloud we find the presence of gaming giants such as Ubisoft, Warner Bros. Games, Riot Games and Epic Games.
This is a very important collaboration because it aims to stimulate mass adoption of games on blockchain by leveraging the reliability, luster and scalability of the traditional web giant.
Cryptonomist Link
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"The ACAMS Certified Global Sanctions Specialist (CGSS) certification is the global program for equipping professionals with the tools they need to understand and interpret changing sanctions regimes.
CAMS (Certified Anti-Money Laundering Specialist) is the global gold standard in AML certifications, with more than 40,000 CAMS graduates worldwide.
KYC, or "Know Your Customer", is a set of processes that allow banks and other financial institutions to confirm the identity of the organisations and individuals they do business with, and ensures those entities are acting legally.
Customer communication management (CCM) in banking fits right in with this change, providing financial institutions with an effective and efficient tool to offer increasingly digital customers the opportunity for a true multichannel journey."
The above certifications have been ongoing since the beginning of the year and will continue going forward for Iraq.
They have been in logistics training for the new digital banking system that will allow them to function within it on a global scale.
© Goldilocks
https://cbi.iq/news/view/2440
Doxee Link
Investopedia Link
ACAMS Link
ACAMS Link 2
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Zimbabwe_Government_90_Day_Foreign_Currency_Treasury_Bill_Issue
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PayPal, Visa and Mastercard, Apple Pay, Stripe, Google Pay, Amazon Pay, and Paytm.
What do they all have in common? Local and international payments.
These Giants of the new digital payment system are paving the way for the road ahead and crypto adoption.
© Goldilocks
https://whatstrending.com/battle-of-the-digital-payment-giants/
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For years I have been encouraging you to save your copper pennies and nickels.
Have you ever wondered why you were seeing so many bright shiny pennies these days handed to you from the banks?
The following is why.
Citi - "Buy Copper now before the rally to $15,000."
© Goldilocks
https://tradestreetdigest.com/the-unstoppable-rise-of-copper-1/
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Furex launches an App for digital assets trading - Businessday NG
Business Day Link
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J.P. Morgan Fusion launches Data Mesh solution
J.P. Morgan has launched the Securities Services Data Mesh, a data solution that allows investors to access critical investment data from J.P. Morgan’s custody, fund accounting, and middle-office services. It is delivered via Fusion by J.P. Morgan.
Asset Servicing Times
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Bitstamp’s Big Move: Partnering with Three European Banking Giants
Coinpedia Link
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Prime Minister Mohammed Shia al-Sudani on Wednesday confirmed Iraq’s readiness to join the BRICS group.
The Prime Minister said in a statement to RT during a dialogue session with representatives of the Iraqi community in Russia, and was followed by the Iraqi News Agency (conscious): “Iraq is ready to join the BRICS group if it receives an invitation from the founding countries,” noting that “Iraq understands the role played by the group and understands the conditions and specifications of joining it.”
On the Palestinian issue, the Prime Minister expressed his gratitude for “the principled position of Russia on the Palestinian issue,” noting that he “discussed this file with President Putin in-depth and out of concern for the lives of civilians.”
https://search4dinar.wordpress.com/2023/10/11/pm-confirms-iraqs-readiness-to-join-brics/
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JUST IN: 🇺🇸 US debt rose by $1.2 billion per hour for the past 19 days.
@WatcherGuru
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We are now 21 days into the Protocol 20 upgrade. The upgrade itself is in the testing phase until the end of October.
During this testing phase, new digital tokens are currently "validating new transactions and maintaining the security of the blockchain."
Once the blockchain is secured, new tokens can be logged onto the system after the testing period is over. And then, we will have a vote to move forward.
This update will provide support for businesses and developers who have an interest in creating tokenized assets on the Stellar Network.
© Goldilocks
Stellar Link
Law Insider Link
Ledger Link
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Debt Markets Shifting Towards Collapse with @GregoryMannarino
https://www.youtube.com/watch?v=m9lV8f6V8Hg
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The Big Riggers look like they are at the very bottom of their rigging operation with very few entities willing to go further short than they already are.
Now we move up and it's all about WHO is going to short the derivative market enough to slow down the Silver Moon Shot!
SILVER ALERT! Criminal Silver Banks Set Up FINAL Physical vs. Derivative BATTLE! (Bix Weir)
https://youtu.be/4NpuVF7p_E8
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Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Thank you Dinar Recaps
Iraq Economic News and Points to Ponder Wednesday Evening 10-11-23
Iraq Economic News and Points to Ponder Wednesday Evening 10-11-23
Tlm724 Administrator Bondlady’s Corner
Moody's: Iraq's Economy Is Exposed To Great Risks
Money and business Moody's, a credit rating company, confirmed that Iraq's economy is highly vulnerable to any decline in oil prices, which constitute 90% of government revenues.
She confirmed in a report on the Iraqi economy, obtained by Al-Iqtisad News, that the government accounts are ambiguous and suffer from major shortcomings, as the non-oil sector is hampered by the lack.
Iraq Economic News and Points to Ponder Wednesday Evening 10-11-23
Tlm724 Administrator Bondlady’s Corner
Moody's: Iraq's Economy Is Exposed To Great Risks
Money and business Moody's, a credit rating company, confirmed that Iraq's economy is highly vulnerable to any decline in oil prices, which constitute 90% of government revenues.
She confirmed in a report on the Iraqi economy, obtained by Al-Iqtisad News, that the government accounts are ambiguous and suffer from major shortcomings, as the non-oil sector is hampered by the lack.
She added that Iraq needs to reduce corruption and improve public finances, to confront fluctuations in oil prices, explaining that the government’s default on debts owed to the private sector is on the rise, causing investors huge losses.
She noted that hydrocarbon wealth is not fully exploited due to years of armed conflict, international sanctions, and insufficient investment.
She stressed that these factors, along with the political risks, made us half of Iraq at CAA, especially since 40% of the government debt is long-term local debt taken from the Central Bank and state-owned commercial banks.
To download the file on the Iraqi economy, click here
https://economy-news.net/vrsfls/cntnt/file/37082.pdf
https://economy-news.net/content.php?id=36928
Advisor To The Prime Minister: Iraq Will Continue To Need Oil And Gas For The Next Two Decades
Time: 2023/10/11 08:46:32 Read: 2,028 times {Economic: Al-Furat News} The Prime Minister’s Advisor for Economic Affairs, Mazhar Muhammad Salih, confirmed that Iraq will continue to need oil and gas during the next twenty years.
In a press statement, Izza Saleh explained this need “in light of the failure of technology to provide a solution to reduce the costs of alternative energy.”
He stated, “The world is living in the period of the Fourth Industrial Revolution in many fields, starting from the digital sector and ending with the production of alternative or renewable energy in all its forms.”
He pointed out that “the progress of the industrial revolution in the eighteenth century depended for a period of time on “traditional” fossil energy, but with the change in life, life faced problems due to this energy, which produces environmental pollutants,” stressing that “the search for alternatives to energy created another problem related to...
In terms of cost, we see all scientific innovations searching for the lowest costs in producing electrical energy, which is why oil and gas still dominate the scene as they are the least expensive compared to other alternatives.
Saleh explained, “Facing environmental problems in the world requires searching for energy alternatives, no matter how high the costs are,” noting that countries of the world, including Iraq, suffer from major environmental problems, including desertification.
He stressed that "the search for alternative energy sources in Iraq represents a life and existential necessity." LINK
Oil Is Stable As Supply Concerns Ease
Energy Economy News – Baghdad Oil prices were unchanged in early Asian trading on Wednesday, as fears of possible supply disruptions due to the recent escalation in Gaza between Israel and Hamas receded.
By 0009 GMT, Brent crude rose 12 cents to $87.77 a barrel. US West Texas Intermediate crude also rose three cents to $86 a barrel.
The two benchmarks rose more than $3.50 on Monday, as military clashes raised fears that the conflict might extend beyond the Gaza Strip, but they closed lower in yesterday’s session, Tuesday.
Although Israel produces very small amounts of crude oil, markets are concerned that if the conflict escalates, it could hurt Middle East supplies and worsen the deficit expected for the rest of the year.
Political risks prevented a further decline in crude oil prices.
In an optimistic sign about the supply situation, Venezuela and the United States made progress in talks that could lead to easing sanctions on Caracas by allowing at least one additional foreign oil company to obtain Venezuelan crude oil under some conditions.
Views 60 10/11/2023 - https://economy-news.net/content.php?id=36918
Foreign Exchange Centers
October 08, 2023 In confirmation of what was stated in our Circular No. 3/9/180 on 6/30/2020 and subsequent circulars regarding foreign exchange positions, the most recent of which is our Circular No. 2/9/204 on 3/30/2023, all licensed banks must take into account the foreign exchange positions allowed in accordance with the circulars.
Above, in order to avoid the inability to meet your customers’ requests to withdraw the dollar deposited in cash in their accounts opened with you,
As many complaints have been received regarding non-fulfillment of these withdrawals under the pretext of the existence of instructions issued by this bank preventing this.
In this regard, this bank will take into account the complaints received from your customers in this regard and will take the necessary measures against the banks that refuse. To comply with the above
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Points to Ponder From George Washington:
A slender acquaintance with the world must convince every man that actions, not words, are the true criterion of the attachment of friends.
Arbitrary power is most easily established on the ruins of liberty abused to licentiousness.
Associate with men of good quality if you esteem your own reputation; for it is better to be alone than in bad company.
Bad seed is a robbery of the worst kind: for your pocket-book not only suffers by it, but your preparations are lost and a season passes away unimproved.
Be courteous to all, but intimate with few, and let those few be well tried before you give them your confidence.
Discipline is the soul of an army. It makes small numbers formidable; procures success to the weak, and esteem to all.
Experience teaches us that it is much easier to prevent an enemy from posting themselves than it is to dislodge them after they have got possession.
Few men have virtue to withstand the highest bidder.
Firearms are second only to the Constitution in importance; they are the peoples' liberty's teeth.
Friendship is a plant of slow growth and must undergo and withstand the shocks of adversity before it is entitled to the appellation.
Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master.
Guard against the impostures of pretended patriotism.
Happiness and moral duty are inseparably connected.
I have no other view than to promote the public good, and am unambitious of honors not founded in the approbation of my Country.
I hope I shall possess firmness and virtue enough to maintain what I consider the most enviable of all titles, the character of an honest man.
I walk on untrodden ground. There is scarcely any part of my conduct which may not hereafter be drawn into precedent.
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter.
Iraq Economic News and Points to Ponder Wednesday Afternoon 10-11-23
Iraq Economic News and Points to Ponder Wednesday Afternoon 10-11-23
Tlm724 Administrator Bondlady’s Corner
Al-Sudani: Iraq Is Looking Forward To Joining The BRICS Group
Political | 01:34 - 11/10/2023 Baghdad - Mawazine News Iraqi Prime Minister Muhammad Shiaa Al-Sudani said that his country is ready to join the BRICS group, if it receives an invitation from the founding countries.
Muhammad Shiaa Al-Sudani said during a dialogue session with representatives of the Iraqi community in Russia, “Iraq understands the role played by the group and is aware of the conditions and specifications for joining it.”
Iraq Economic News and Points to Ponder Wednesday Afternoon 10-11-23
Tlm724 Administrator Bondlady’s Corner
Al-Sudani: Iraq Is Looking Forward To Joining The BRICS Group
Political | 01:34 - 11/10/2023 Baghdad - Mawazine News Iraqi Prime Minister Muhammad Shiaa Al-Sudani said that his country is ready to join the BRICS group, if it receives an invitation from the founding countries.
Muhammad Shiaa Al-Sudani said during a dialogue session with representatives of the Iraqi community in Russia, “Iraq understands the role played by the group and is aware of the conditions and specifications for joining it.”
Al-Sudani indicated that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries.
He stressed that he was grateful for Russia's principled position on the Palestinian issue, noting that he discussed this issue with President Putin in depth and out of concern for the lives of civilians.
Al-Sudani revealed that Iraq is in the process of studying a project to open an Iraqi cultural center in the Russian capital, Moscow, based on the deep historical relations that bind the two countries, which will reach its eightieth anniversary next year since the establishment of diplomatic relations between Moscow and Baghdad. Ended 29/h https://www.mawazin.net/Details.aspx?jimare=236215
Al-Sudani Confirms That The Government Is Moving Forward With Implementing Economic, Administrative And Service Reforms That Will Be Affected By The Iraqi Street
Political | 11/10/2023 Baghdad - Mawazine News Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, that the government is moving forward with implementing economic, administrative and service reforms that will affect the Iraqi street.
Al-Sudani's office stated in a statement, a copy of which Mawazine News received, that "Prime Minister Muhammad Shia' al-Sudani met with a group of the Iraqi community residing in the Russian Federation, on the sidelines of his official visit to Moscow, at the invitation of Russian President Vladimir Putin."
He added, "During the meeting, the Prime Minister listened to a comprehensive presentation about the conditions of the Iraqi community, the progress of their affairs, their requirements, and the most important obstacles and difficulties they face in their residency."
In his speech to the community’s elite, the Prime Minister affirmed, “The government is moving forward with implementing economic, administrative, and service reforms that will touch the Iraqi street, and will fulfill the people’s ambitions and what they expect from the government.”
He pointed out "the importance of the contribution of Iraqi competencies, wherever they are, to building Iraq and achieving the desired progress," expressing the "government's welcome to embrace all those who wish to contribute to development and reform."
He stressed that "the government is committed to supporting Iraqi citizens everywhere, and is keen to facilitate their affairs, provide them with all administrative services, and take care of their affairs." Ended 29/H https://www.mawazin.net/Details.aspx?jimare=236212
Economist: Changing The Official Exchange Rate Is A “Big Mistake” And It Is Addressed By Reducing Imports
Time: 2023/10/11 18:00:59 Read: 390 times {Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Mashhadani, described changing the official exchange rate as a “big mistake.”
Al-Mashhadani said {to Al-Furat News} that: “The dollar exchange rates will not reach 200 thousand Iraqi dinars,” ruling out “changing the official exchange rate or reducing it further, because this would be a bigger error than the basic error.”
He pointed out, "This matter can be addressed by reducing imports from Iran, as commercial transactions are close to 30 million dollars annually."
Al-Mashhadani explained, “Funding these imports comes from the parallel market, in addition to government policy.”
The volume of trade exchange between Iraq and Iran, according to a statement by the Secretary-General of the Joint Iranian-Iraqi Chamber of Commerce, Jahanbakhsh Sanjabi Shirazi, amounts to 10 billion dollars annually.
Shirazi said, in an interview with IRNA news agency, yesterday, Tuesday: In light of the presence of eight official border crossings with Iraq, the cultural advantages, popular ties, and natural resources that God has blessed, the volume of trade between Iran and Iraq can be raised from 10 billion dollars to 20 billion dollars. Dollars annually.
He listed Iraq's main needs in 10 groups of mechanical and electrical machinery and transportation equipment, chemicals, agricultural products and food industries, clothing and textiles, metals and mineral products, stone and glass, leather and miscellaneous industrial goods. It now represents 65% of Iraq's imports.
Iraq imported an average of about 16 billion and 764 million dollars annually from these ten groups during the past five years. The highest amount of imports was agricultural machinery, at 30% of the total market, and the lowest amount, at 147 thousand dollars, was related to leather, at three-tenths of a percent.
Shirazi stated that the volume of trade between Iran and Iraq currently ranges between 10 and 12 billion dollars. LINK
Center For Banking Studies: Anti-Money Laundering Training Contributes To Increasing Iraq's Ability To Confront The Phenomenon Of Money Laundering
The Center for Banking Studies at the Central Bank of Iraq held a ceremony for participants in internationally accredited training courses.
The ceremony, which was attended by a number of Central Bank officials, witnessed the distribution of approved certificates in the field of anti-money laundering and compliance to participants in the training courses and those who passed the exam to obtain (CGSS), (CAMS), (KYCS), and (CCM) certificates.
The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi, indicated that obtaining this type of certificate for participants contributes to raising the ability of the banking sector in Iraq to confront the phenomenon of money laundering and terrorist financing and achieve international compliance requirements. Congratulations to the participants in these courses for the banking sector. The Iraqi.
It is noteworthy that the Center for Banking Studies of the Central Bank of Iraq provides dozens of training courses throughout the year in various banking fields, in addition to its cooperation with regional and international training centers. 10/11/2023 - https://economy-news.net/content.php?id=36917
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Points to Ponder on THE FOUR AGREEMENTS
If you can implement these 4 things into your daily life your life will change -- and it will be more harmonious -- with less suffering - and less negative Karma -- it would be most helpful if you could print these out - paste to an index card and carry with you or place where you can be reminded of them until they are fully into your conscious mind -- just a kind heartfelt suggestion - your choice --
The Four Agreements - Don Miguel Ruiz
Agreement 1 - Be impeccable with your word - Speak with integrity. Say only what you mean. Avoid using the word to speak against yourself or to gossip about others. Use the power of your word in the direction of truth and love.
Agreement 2 - Don’t take anything personally - Nothing others do is because of you. What others say and do is a projection of their own reality, their own dream. When you are immune to the opinions and actions of others, you won’t be the victim of needless suffering.
Agreement 3 - Don’t make assumptions - Find the courage to ask questions and to express what you really want. Communicate with others as clearly as you can to avoid misunderstandings, sadness and drama. With just this one agreement, you can completely transform your life.
Agreement 4 - Always do your best - Your best is going to change from moment to moment; it will be different when you are healthy as opposed to sick. Under any circumstance, simply do your best, and you will avoid self-judgment, self-abuse and regret.
Iraq Economic News and Points to Ponder Wednesday AM 10-11-23
Iraq Economic News and Points to Ponder Wednesday AM 10-11-23
Al-Shammari: America Punishes Iraq With Dollars To Topple The Government
Information / Baghdad.. Member of the Popular Legal Movement, Ahmed Shahid Al-Shammari, confirmed today, Wednesday, that the United States of America is punishing Iraq with dollars for many reasons. Al-Shammari said in an interview with the Maalouma Agency, “The continued rise of the dollar is aimed at targeting Prime Minister Muhammad Shia’ al-Sudani and his government.”
He added, "The Presidency of Parliament did not perform its real role in discussing the issue of the rise in the dollar exchange rate by hosting those concerned and developing appropriate solutions."
Iraq Economic News and Points to Ponder Wednesday AM 10-11-23
Al-Shammari: America Punishes Iraq With Dollars To Topple The Government
Information / Baghdad.. Member of the Popular Legal Movement, Ahmed Shahid Al-Shammari, confirmed today, Wednesday, that the United States of America is punishing Iraq with dollars for many reasons. Al-Shammari said in an interview with the Maalouma Agency, “The continued rise of the dollar is aimed at targeting Prime Minister Muhammad Shia’ al-Sudani and his government.”
He added, "The Presidency of Parliament did not perform its real role in discussing the issue of the rise in the dollar exchange rate by hosting those concerned and developing appropriate solutions."
He pointed out that "the rise in the price of the dollar on the black market has become a major concern among popular circles," stressing that "the rise in the sale of the dollar is intentional and the United States of America stands behind it to target the Sudanese and his government."
Representative Hadi Al-Salami warned of the repercussions of losing control over the exchange rate in the parallel market for the dollar after it exceeded the barrier of 163 dinars per 100 dollars. LINK
An Advisor To The Iraqi Government: The Dollar Exchange Rates Will Stabilize Within Two Months
2023-10-11 03:12 Shafaq News/ Advisor to the Prime Minister for Investment Affairs, Muhammad Al-Najjar, expected on Wednesday that stability would return to the exchange rates of the dollar against the Iraqi dinar in the parallel market within a maximum period of two months.
He said during his hosting of the seventh session of the “Miri” Forum, under the title “The Sudanese Government... Pledges, Progress, and Prospects,” that the disruption that occurred in the dollar exchange rates is not the result of coincidence, but rather a legacy dating back almost to the beginning of the war with the Iranian-Iraqi in the 1980s. He added, "A short period of time ago, the pattern of dealing with banks with regard to the dollar changed."
He explained that what is happening in this transformation and this process is that we are trying to return everything to the global system, which all Iraqi governments were late in this action, and some of them completely ignored the requests directed, and these requests are correct in reality.
Al-Najjar also pointed out that what we were supposed to do in six years, we are trying to accomplish in one year, and this greatly affected the exchange rate of the dollar, adding that the second thing that happened was the presence of major corruption within a group of banks and banking companies, which led to... To smuggle dollars.
The government advisor continued, saying, “The question asked is: Will the dollar price continue to rise?” The answer: Yes, this rise may continue for a certain period of time, adding: But we expect that within a month or two, stability in the exchange rate will begin, because 70 percent of trade In Iraq, it moved to the electronic platform. LINK
Exchange Rates Are Flying High... 163 Thousand Dinars For Every Hundred Dollars In Iraqi Markets
Economy 2023-10-11 | 2,091 views Alsumaria News – Economy Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Tuesday, October 11, 2023.
Dollar prices rose in local markets in Baghdad, as the selling price reached 163,000 Iraqi dinars, while the purchasing price reached 161,000 dinars for every 100 dollars.
In Erbil, the dollar exchange rates for selling reached 160,900 dinars for 100 dollars, and the purchasing price was 160,800 dinars for 100 dollars.
For more than 7 months, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel (black) markets.
The Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of buying the dollar from the Ministry of Finance reached 1,300 dinars per dollar and selling it at (1,310) dinars per dollar to banks through the electronic platform, and it is sold for (1,320) dinars per dollar. Dollars from banks and non-banking financial institutions to the final beneficiary. LINK
Parliamentary Planning: Hidden Hands Are Tampering With The Iraqi Economy Through The Dollar
Information / Baghdad.. The Parliamentary Planning Committee confirmed, on Wednesday, that the continuing crisis of the rise in the dollar exchange rate is artificial and aims to harm the Iraqi economy, while indicating the presence of hidden hands used by the American side as a pressure card to embarrass the government through the dollar file.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
Deputy Chairman of the Committee, MP Muhammad Karim, said in a statement to Al-Maalouma, “There are hidden hands working to harm the Iraqi economy to bring the Sudanese government to a critical point regarding the continued rise in the dollar exchange rate.”
He added, "The American side is behind this crisis by employing tools that exacerbate the crisis and constitute a pressure card on the government of Muhammad Shiaa al-Sudani."
Karim pointed out, “The treatment tools taken by the Central Bank of Iraq failed to reach the real solutions to control the issue of the rise in the exchange rates of the US dollar against the Iraqi dinar.”
He pointed out that "the problem is not a person or a group until they are replaced. Rather, the issue is related to finding alternative and effective ways and solutions to address and get out of the crisis that has become worrying for everyone."
During the current period, America worked to destroy the Iraqi currency by imposing sanctions on Iraqi banks, and banning the dollar under many pretexts, which led, in one way or another, to a severe financial crisis in the Iraqi markets. LINK
The Central Bank Of Iraq "Loses Control"... A Continuous Rise In Dollar Exchange Rates
TUESDAY, 10-10-2023, PM 6:22 KARAR AL-ASSADI The official spokesman for the stock market in Sulaymaniyah said on Tuesday that the increasing rise in the exchange rate of the dollar against the dinar indicates that the Central Bank of Iraq does not control the work of private banks in the country.
Jabbar Goran said during a press conference held in Sulaymaniyah, today, that the rise in the price of the dollar is due to internal reasons represented by the statements of Iraqi officials, especially the recent statements of the Central Bank of Iraq, as well as the fear and anxiety of citizens as a result of the current situation, in addition to external reasons represented by the general situation in the region, the most important of which is what is happening now. In Palestine.
He added that the rise that the dollar has reached during the past five days indicates the lack of control of the Central Bank of Iraq over the work of private banks, as well as the lack of confidence of the Iraqi citizen in the local currency, according to Shafaq News.
He pointed out that the Central Bank of Iraq did not reduce the pumping of foreign currency during this period, pointing out that the Iraqi situation is considered important to the American side and all the decisions now issued by the American Treasury are in the interest of Iraq and must be adhered to.
Today, Tuesday, the price of the US dollar exceeded the barrier of 160 thousand Iraqi dinars, in Baghdad and the rest of the country’s governorates. https://non14.net/public/160858
The Central Bank Of Iraq "Loses Control"... A Continuous Rise In Dollar Exchange Rates
2023-10-10 08:47 Shafaq News/ The official spokesman for the stock market in Sulaymaniyah, Kurdistan Region, said on Tuesday that the increasing rise in the exchange rate of the dollar against the dinar indicates the Central Bank of Iraq’s lack of control over the work of private banks in the country.
Jabbar Gorran said during a press conference held in Sulaymaniyah, today, attended by Shafaq News Agency, that the reasons for the rise in the price of the dollar are due to internal reasons represented by the statements of Iraqi officials, especially the recent statements of the Central Bank of Iraq, as well as the fear and anxiety of citizens as a result of the current situation, in addition to external reasons represented by the general situation. In the region, the most important of which is what is happening now in Palestine.
He added that the rise that the dollar has reached during the past five days indicates the lack of control of the Central Bank of Iraq over the work of private banks, as well as the lack of confidence of the Iraqi citizen in the local currency.
He pointed out that the Central Bank of Iraq did not reduce the pumping of foreign currency during this period, pointing out that the Iraqi situation is considered important to the American side and all the decisions now issued by the American Treasury are in the interest of Iraq and must be adhered to.
Today, Tuesday, the price of the US dollar exceeded the barrier of 160,000 Iraqi dinars, in Baghdad and Erbil, the capital of the Kurdistan Region, with the stock market closed. LINK
Points to Ponder on Common Sense:
Common Sense is, of all kinds, the most uncommon -- It implies good judgment, sound discretion, and true and practical wisdom applied to common life -- Tryon Edwards
One pound of learning requires ten pounds of common sense to apply it -- Persian Proverb
Fine sense, and exalted sense, are not half as useful as common sense -- there are forty men of wit to one man of sense -- He that will carry nothing about him but gold, will be every day at a loss for readier change -- Pope
To act with common sense according to the moment, is the best wisdom I know ; and the best philosophy is to do one's duties, take the world as it comes, submit respectfully to one's lot; bless the goodness that has given us so much happiness with it, whatever it is; and despise affectation -- Walpole
"Tidbits From TNT" Wednesday Morning 10-11-2023
TNT:
Tishwash: Al-Sudani to RT: Iraq is looking forward to joining the BRICS group
Iraqi Prime Minister Muhammad Shiaa Al-Sudani said that his country is ready to join the BRICS group, if it receives an invitation from the founding countries.
Muhammad Shiaa Al-Sudani said in a special statement to RT during a dialogue session with representatives of the Iraqi community in Russia that Iraq understands the role played by the group and is aware of the conditions and specifications for joining it.
Al-Sudani indicated that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries.
He stressed that he was grateful for Russia's principled position on the Palestinian issue, noting that he discussed this issue with President Putin in depth and out of concern for the lives of civilians.
TNT:
Tishwash: Al-Sudani to RT: Iraq is looking forward to joining the BRICS group
Iraqi Prime Minister Muhammad Shiaa Al-Sudani said that his country is ready to join the BRICS group, if it receives an invitation from the founding countries.
Muhammad Shiaa Al-Sudani said in a special statement to RT during a dialogue session with representatives of the Iraqi community in Russia that Iraq understands the role played by the group and is aware of the conditions and specifications for joining it.
Al-Sudani indicated that he discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries.
He stressed that he was grateful for Russia's principled position on the Palestinian issue, noting that he discussed this issue with President Putin in depth and out of concern for the lives of civilians.
Al-Sudani revealed that Iraq is in the process of studying a project to open an Iraqi cultural center in the Russian capital, Moscow, based on the deep historical relations that bind the two countries, which will reach its eightieth anniversary next year since the establishment of diplomatic relations between Moscow and Baghdad. link
Tishwash: Al-Sudani discusses with Putin the use of the dinar and the ruble in transactions between the two countries
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Wednesday, the discussion of the use of local currencies in commercial transactions between Iraq and Russia, during his meeting with President Vladimir Putin.
Al-Sudani said in a statement reported by the "Russia Today" website that he "discussed with Russian President Vladimir Putin a wide range of economic issues, including the use of the Iraqi dinar and the Russian ruble in commercial transactions between the two countries."
Al-Sudani pointed out that "Iraq is in the process of studying a project to open an Iraqi cultural center in the Russian capital, Moscow, based on the deep historical relations that bind the two countries, which will reach the eightieth year next year since the establishment of diplomatic relations between Moscow and Baghdad."
Prime Minister Muhammad Shiaa Al-Sudani stressed today, Wednesday, that the government is continuing to implement economic, administrative and service reforms, noting the importance of the Iraqi competencies contributing to building Iraq and achieving the desired progress. link
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Tishwash: Sudanese political advisor reveals a plan to address Russian debts to Iraq
The political advisor to the Iraqi Prime Minister, Sobhan Mulla Jiyad, explained that the economic file is the most prominent in the Sudanese visit to Russia, as well as other issues and positions that bind the two countries, including consensus on issues of national liberation.
Mulla Jiyad said in a press interview, “Russia is an important country and has global weight, and Iraq has great historical, political, economic and cultural relations with it, and communication with the Russians takes place according to this context in general.”
He explained, “The most important files that the Sudanese adopt in all his international visits is the economic file, and also in his visit to Russia, the economic file will be the most prominent, in addition to other political files,” noting that “Iraq is aware that Russia is facing sanctions, and there is caution in dealing with it.” With it and the arrival of hard currency to it.”
He pointed out that “Russia is asking Iraq for significant sums of money, and there are ideas and many ways outside the scope of sanctions on which to build the relationship,” pointing out that “Iraq has many ideas, including the possibility of investing these sums inside Iraq, as there are great investment opportunities in Iraq.” We need Russian expertise and Russian industries, especially in the field of developing oil fields and upcoming licenses for Iraqi gas.”
Mullah Jiyad added, “The opportunities are great and promising and available to the Russians to participate in gas licenses, as well as the localization of some Russian industries in Iraq through the interaction of the private sectors in Iraq and Russia,” stressing that “these topics will be discussed during the visit, in addition to the political aspect, which connects us.” With Russia, there are many common positions, whether on the side of the Palestinian issue that is currently being widely raised, as well as in the Russian-Ukrainian war, which Iraq calls for ending through a diplomatic solution and stopping the war, and Russia understands Iraq’s position.”
He continued, “There is agreement between the Iraqi and Russian positions, especially on issues of national liberation, in addition to the many commonalities between the two countries.”
Regarding the nature of the development of the relationship with Russia in the context of American decisions, the Prime Minister’s advisor stressed that “the economic aspect is currently imposing itself on all countries, whether Russia, Iraq, or other countries.” link
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Tishwash: From Moscow.. Al-Sudani: We are proceeding with economic, administrative and service reforms in Iraq
The Iraqi Prime Minister, Muhammad Shiaa Al-Sudani, confirmed on Wednesday that his government is continuing to implement economic, administrative and service reforms, while indicating the government’s commitment to supporting Iraqi citizens everywhere around the world.
This came during a meeting between the Prime Minister and a group of the Iraqi community residing in Russia, on the sidelines of his official visit to the capital, Moscow, at the invitation of Russian President Vladimir Putin, since yesterday, Tuesday.
According to a statement received by Shafaq News Agency, Al-Sudani listened to a comprehensive presentation on the conditions of the Iraqi community, the progress of their affairs, their requirements, and the most important obstacles and difficulties they face in their residency.
In his speech to community elites, the Iraqi Prime Minister confirmed that the government is continuing to implement economic, administrative and service reforms that will touch the Iraqi street and fulfill the people’s ambitions and what they expect from the government.
He pointed out the importance of "the contribution of Iraqi competencies, wherever they are, to building Iraq and achieving the desired progress, expressing the government's welcome to embrace all those who wish to contribute to development and reform."
Al-Sudani stressed the need for the government to support Iraqi citizens everywhere, and be keen to facilitate their affairs, provide them with all administrative services, and take care of their affairs. link
Mot: ..... ooooooooo com on - K~~~~~
Mot: .. ooooooooooh lordy! ---
MilitiaMan: Iraq Article VIII - Iraq Dinar - Convertible Currency - International Trade - Get Ready
Iraq Article VIII - Iraq Dinar - Convertible Currency - International Trade - Get Ready
MilitiaMan and Crew: 10-10-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Article VIII - Iraq Dinar - Convertible Currency - International Trade - Get Ready
MilitiaMan and Crew: 10-10-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Iraq Economic News and Points to Ponder Tuesday Evening 10-10-23
Iraq Economic News and Points to Ponder Tuesday Evening 10-10-23
Tlm724 Administrator Bondlady’s Corner
Stop illegal imports and media mouthpieces... belonging to speculators and corrupt people
Samir Al-Nusairi Economy News
After the visit of the US Assistant Secretary of the Treasury to Iraq a few days ago and her meeting with the Prime Minister and the Governor of the Central Bank, understandings and agreements were reached to strengthen the role of the government and the Central Bank in implementing international standards to control the stability of the exchange rate and praising the measures taken to achieve monetary stability.
Iraq Economic News and Points to Ponder Tuesday Evening 10-10-23
Tlm724 Administrator Bondlady’s Corner
Stop illegal imports and media mouthpieces... belonging to speculators and corrupt people
Samir Al-Nusairi Economy News
After the visit of the US Assistant Secretary of the Treasury to Iraq a few days ago and her meeting with the Prime Minister and the Governor of the Central Bank, understandings and agreements were reached to strengthen the role of the government and the Central Bank in implementing international standards to control the stability of the exchange rate and praising the measures taken to achieve monetary stability.
The yellow media affiliated with the corrupt and speculators began broadcasting Rumors and criticism of the Central Bank, as their media and analysts,
who have bad intentions and goals that are offensive to our national economy, and who
spread fabricated news to influence the monetary authority’s measures to control the market and
harm the people’s livelihood with the aim of narrow political and economic interests.
Forgetting that the insistence on circulating fake news Rumors and media analyzes from figures not specialized in economics and monetary policy.
Their goal is clear: to
confuse the monetary market and the movement of the commercial market, and
they are trying to suggest that the exchange rate of the Iraqi dinar will reach uncontrollable rates.
The executive packages to
facilitate obtaining the US dollar, the
instructions issued by the Central Bank, and the
statements, clarifications and
procedures that the Central Bank has taken and
is undertaking in accordance with its responsibilities stipulated in its effective law to intervene in
controlling and maintaining the exchange rate
is a measure taken by all banks in the world when needed.
He also repeatedly clarified that one of his most important basic duties is to
facilitate foreign trade procedures and
secure foreign currency at the official rate set for merchants in accordance with international standards approved to control foreign transfers and
ensure their safe arrival to the final beneficiary.
He also emphasized that the news about the existence of new sanctions on our banks is incorrect and that Mr. President The ministers have previously confirmed in a clear statement that the government supports the Central Bank’s measures and that the
plans of speculators and corrupt people will fail.
We say to them and to other rumor mongers:
Enough of manipulating the feelings of the poor and vulnerable segments of citizens.
Emphasizing the call on the government and the House of Representatives to
accelerate the activation of economic, financial and banking reform programs in the government curriculum, implement the 2023 budget,
find solutions and treatments for new appointments, activate non-oil economic sectors,
develop the food ration in the ration card,
increase social welfare allocations,
activate the retirement law for the private sector, and
establish the fund. Sovereignty for generations, the
formation of the Private Sector Development Council in its final form, and
support for local production.
In addition to implementing what was stated in the Central Bank’s statement issued on August 2, 2023, in which
it explained the executive procedures to control the stability of the exchange rate, among the most prominent of what was stated therein.
Adopting the electronic platform exclusively for foreign transfer transactions,
controlling illicit trade through official and unofficial border crossings,
stopping trading and transactions in the black dollar 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
having importers prove that all their imports were made through the platform and at the price.
Officially, Customs and the General Tax Authority implement the Central Bank’s proposals and procedures for small merchants to enter the platform in accordance with the rules.
We affirm the call on banks and banking companies to
adhere strictly and nationally to implement the instructions and procedures of the Central Bank to control the currency market and
not to withhold the dollar for the purposes of merchants, businessmen and citizens, which
they must obtain at the price set by the Central Bank because certainly the money market is now under internal and international control and supervision, and we have great hope for our banks.
During the crises that the country went through, its contribution was effective in achieving stability in the foreign currency trading market.
399 views 09/23/2023 - https://economy-news.net/content.php?id=36554
Announcing The Central Bank Of Iraq Transfer Auction For A Period Of (14) Days
October 10, 2023 We would like to inform you that the auction for traditional financial transfers of the Central Bank of Iraq has been announced for (14) days, with the number (B306), and
the implementation will be on 10/16/2023, according to the details included in the announcement published on the Central Securities Custody System (CSD), and the
banks can begin. By submission starting from the date of the announcement until the aforementioned implementation day. https://cbi.iq/news/view/2439
The Center For Banking Studies Celebrates The Participants In Its Training Courses
October 10, 2023 Today, Monday, the Center for Banking Studies at the Central Bank of Iraq held a ceremony for participants in internationally accredited training courses.
The ceremony, which was attended by a number of officials from this bank, witnessed the distribution of approved certificates in the field of anti-money laundering and compliance to the participants in the training courses and those who passed the exam to obtain the (CGSS), (CAMS), (KYCS), and (CCM) certificates.
The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi, indicated that obtaining this type of certificate for participants contributes to raising the ability of the banking sector in Iraq to confront the phenomenon of money laundering and terrorist financing and achieve international compliance requirements. Congratulations to the participants in these courses for the banking sector. The Iraqi.
It is noteworthy that the Center for Banking Studies of the Central Bank of Iraq provides dozens of training courses throughout the year in various banking fields, in addition to its cooperation with regional and international training centers.
Central Bank of Iraq information Office 9 - October – 2023 https://cbi.iq/news/view/2440
Roadmap For Financial Sustainability In The Iraqi Banking Sector
October 10, 2023 :diamonds: The general framework of the financial sustainability roadmap in the Iraqi banking sector for the period (2023-2029)... To view, click here https://cbi.iq/static/uploads/up/file-169693836088921.pdf https://cbi.iq/news/view/2441
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Points to Ponder on Endurance and Perseverance:
The palm tree grows best beneath a ponderous weight - and even so the character of man -- The petty pangs of small daily cares have often bent the character of men - but great misfortunes seldom -- Kossuth
Our strength often increases in proportion to the obstacles imposed upon it -- It is thus we enter upon the most perilous plans after having had the shame of failing in more simple ones -- Rapin
The difference between perseverance and obstinacy is -- that one often comes from a strong will and the other from a strong won't -- H W Beecher
See first that the design is wise and just -- that ascertained -- pursue it resolutely - do not for one repulse forego the purpose that you resolved to effect -- Shakespeare
By bravely enduring - an evil which cannot be avoided is overcome -- Old Proverb
Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Good afternoon Dinar Recaps,
Collaboration Between Regional Financing Arrangements and the IMF recently met to discuss Global Economic Reforms.
"The staff of the International Monetary Fund (IMF) and the heads of RFAs (the Arab Monetary Fund, the ASEAN+3 Macroeconomic Research Office cum the Chiang Mai Initiative Multilateralisation, represented by Bank Indonesia as its 2023 Co-chair, the BRICS Contingent Reserve Arrangement, represented by the South African Reserve Bank, the Eurasian Fund for Stabilization and Development, the European Commission, the European Stability Mechanism, and the Latin American Reserve Fund) discussed economic developments" over the last few years.
Goldilocks' Comments and Global Economic News Tuesday Evening 10-10-23
Good afternoon Dinar Recaps,
Collaboration Between Regional Financing Arrangements and the IMF recently met to discuss Global Economic Reforms.
"The staff of the International Monetary Fund (IMF) and the heads of RFAs (the Arab Monetary Fund, the ASEAN+3 Macroeconomic Research Office cum the Chiang Mai Initiative Multilateralisation, represented by Bank Indonesia as its 2023 Co-chair, the BRICS Contingent Reserve Arrangement, represented by the South African Reserve Bank, the Eurasian Fund for Stabilization and Development, the European Commission, the European Stability Mechanism, and the Latin American Reserve Fund) discussed economic developments" over the last few years.
They discussed the changing landscape of the new Digital Economy along with new Economic Mechanisms currently being put into place to facilitate financial change and growth in the coming years.
The overall meeting appeared to have a solemn tone to it from the view of this author, but encouragement to stay the course was a pervading theme of this gathering.
No mention of a divisive opinion took place by any Global entity present at this meeting. Their movement forward appears to be in agreement.
There was an agreement to move forward with the following. "On October 4, 2023, the Executive Board of the International Monetary Fund (IMF) completed the review of the Policy Coordination Instrument (PCI) and endorsed the proposal to eliminate the Policy Support Instrument (PSI)."
The PSI instrument will eliminate money offered by the IMF to low-income countries who feel they do not need that tool any longer. A quiet confidence in the new Financial framework was the pervading theme.
This meeting represented major Global entities from around the world to discuss and implement new policies regarding global economic reforms.
When reading past scripts on this annual meeting, there were great concerns. This meeting was filled with anxious anticipation and cautious hope, but movement forward with these new global reforms was encouraged.
© Goldilocks
IMF Link1
IMF Link 2
IMF LInk 3
IMF Link 4
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The Smart Contract “Kill Switch” is a regulatory mechanism introduced by the EU to address specific concerns related to smart contracts. Essentially, it allows authorities to intervene in a smart contract under certain predefined circumstances.
The primary purpose of this kill switch is to mitigate potential risks associated with smart contracts. While smart contracts are designed to be self-executing and irreversible, intervention becomes necessary in some situations. For instance, in fraud, illegal activities, or contracts that violate legal requirements, the kill switch allows regulatory bodies to halt or modify the smart contract.
This mechanism, although controversial, is viewed as a means to ensure that smart contracts comply with existing legal frameworks and ethical standards. It provides a safety net for situations where the decentralized nature of blockchain technology could potentially be exploited for malicious purposes.
Administrators often use this mechanism to deactivate a device or software in response to a security threat. In the context of smart contracts, the kill switch can perform two functions: it can either terminate the contract entirely or initiate a pause, patch, and subsequent re-release of the contract, especially in cases involving significant bugs or security breaches.
https://www.cryptopolitan.com/why-implement-a-smart-contract-kill-switch/
~~~~~~~~~~
The International Monetary Fund is warning that around 5% of banks GLOBALLY are vulnerable to stress if central bank interest rates remain high.
The IMF also said that 30% of banks would be vulnerable if the global economy entered stagflation.
Again,
Hollywood ending.
Read: https://x.com/goldtelegraph_/status/1711777694751629734?s=46
~~~~~~~~~~
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Thank you Dinar Recaps -- www.DinarRecaps.com
Some "Tuesday News" Posted by Clare at KTFA 10-10-2023
KTFA:
Clare: Putin announces the size of Russia's investments in Iraq: $19 billion and 50 operating companies
10/10/2023
On Tuesday, Russian President Vladimir Putin revealed the volume of investments by Russian companies in Iraq, indicating that it amounts to 19 billion dinars, in addition to 50 companies operating in Iraq.
The Russian President's statement came during discussions held Tuesday in Moscow with Iraqi Prime Minister Muhammad Shia'a al-Sudani, who arrived in the Russian capital earlier today.
Putin indicated that Moscow and Baghdad are successfully coordinating work within the framework of “OPEC+” with the aim of achieving stability in global energy markets. He said: “We are coordinating work within “OPEC+” and we are doing so with great success with the aim of achieving stability of the situation in global markets, and I hope that we will continue. In working with this approach.
KTFA:
Clare: Putin announces the size of Russia's investments in Iraq: $19 billion and 50 operating companies
10/10/2023
On Tuesday, Russian President Vladimir Putin revealed the volume of investments by Russian companies in Iraq, indicating that it amounts to 19 billion dinars, in addition to 50 companies operating in Iraq.
The Russian President's statement came during discussions held Tuesday in Moscow with Iraqi Prime Minister Muhammad Shia'a al-Sudani, who arrived in the Russian capital earlier today.
Putin indicated that Moscow and Baghdad are successfully coordinating work within the framework of “OPEC+” with the aim of achieving stability in global energy markets. He said: “We are coordinating work within “OPEC+” and we are doing so with great success with the aim of achieving stability of the situation in global markets, and I hope that we will continue. In working with this approach.
The Russian President added that the energy sector is a major area of cooperation between Russia and Iraq, a member of the Organization of the Petroleum Exporting Countries (OPEC).
Regarding the size of Russian investments in Iraq, Putin said, "Our major companies operate in your country (Iraq) with great success. The total investments of our companies amounted to about 19 billion dollars. There are prospects for further development of cooperation."
Moscow and Baghdad have strategic and historical relations, and approximately 50 Russian companies currently operate in Iraq, including Lukoil and Gazprom Neft, the oil arm of the Russian company Gazprom.
Russia is currently implementing a large project to rebuild and modernize a factory for the production of glass and ceramic products in the city of Ramadi in Anbar Governorate. A Russian industrial alliance has begun the practical implementation of this project for the benefit of the Iraqi Ministry of Industry and Mineral Resources. LINK
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Clare: Plasschaert: The Sudanese government has made important steps and Iraq is in a position to seize opportunities
10/10/2023
UN Representative Jeanine Plasschaert during her briefing at the Security Council on developments in Iraq:
The government of Prime Minister Muhammad Shiaa Al-Sudani made important steps and promising initiatives within a year of its formation
The Iraqi government has taken important steps in reforming the financial and banking sector
Iraq is in a position to seize opportunities
The Iraqi government has taken steps in the budget that allow for increased private sector investments
Iraq has made efforts to secure its borders with Iran
We welcome the continued efforts to activate bilateral committees between Iraq and Turkey
The Iraqi government has made clear beyond doubt its commitment to the principles of international law and its respect for bilateral agreements and United Nations resolutions
Iraq is committed to its positive relations with its neighbors
The Iraqi government has made achieving water security its top priority LINK
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Clare: The Center for Banking Studies celebrates the participants in its training courses
October 10, 2023
Today, Monday, the Center for Banking Studies at the Central Bank of Iraq held a ceremony for participants in internationally accredited training courses.
The ceremony, which was attended by a number of officials from this bank, witnessed the distribution of approved certificates in the field of anti-money laundering and compliance to the participants in the training courses and those who passed the exam to obtain the (CGSS), (CAMS), (KYCS), and (CCM) certificates.
The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi, indicated that obtaining this type of certificate for participants contributes to raising the ability of the banking sector in Iraq to confront the phenomenon of money laundering and terrorist financing and achieve international compliance requirements. Congratulations to the participants in these courses for the banking sector. The Iraqi.
It is noteworthy that the Center for Banking Studies of the Central Bank of Iraq provides dozens of training courses throughout the year in various banking fields, in addition to its cooperation with regional and international training centers.
Central Bank of Iraq
Information Office
9 - October – 2023 LINK
Clare: Similar to Iran, the Iraqi president hopes to sign a joint security agreement with Türkiye
10/10/2023
The President of the Republic, Abdul Latif Jamal Rashid, expressed, on Tuesday, his hope that a joint security agreement would be concluded with Turkey similar to the agreement with Iran, which led to the disarmament of the Kurdish parties opposing the regime in Tehran and present on the territory of the Kurdistan Region.
The Iraqi presidency stated in a statement that Rashid received, at Baghdad Palace, the National Security Advisor, Mr. Qasim Al-Araji.
According to the statement, during the meeting, the latest political and security developments in Iraq and the region were discussed, as the President indicated the need to intensify efforts and enhance security in the border areas.
The statement added that Rashid appreciated the signing of the joint security agreement with the Islamic Republic of Iran, stressing the importance of the agreement in enhancing security and stability.
During the same meeting, the President of the Republic expressed his hope to sign a joint security agreement with Turkey, and to limit the violations that negatively affect the nature of relations between the two countries.
For his part, Al-Araji provided the president with an extensive explanation of the current and future plans of the National Security Advisory, stressing that no effort would be spared to support the internal stability of Iraq and secure the interests and lives of citizens. LINK