"Tidbits From TNT" Saturday 10-21-2023
TNT:
Al-Alaq: Stability of the exchange rate requires changes in the Iraqi commercial system
Central Bank Governor Ali Al-Alaq considered, on Saturday, the process of stabilizing the exchange rate of the dinar against the dollar as a “major process” that requires changes to the Iraqi commercial system and financial transfers outside the country.
This came in his speech during the first annual banking conference hosted by the city of Erbil under the slogan “The banking sector, opportunities for advancement and the future of international companies,” in its first edition.
Al-Alaq said in his speech, “The rules stipulated in the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2018 must be consolidated, and international practices and standards must be applied in a way that preserves the integrity of the financial system from local and international risks and procedures, and in a way that ensures the transparency and integrity of financial operations.”
TNT:
Al-Alaq: Stability of the exchange rate requires changes in the Iraqi commercial system
Central Bank Governor Ali Al-Alaq considered, on Saturday, the process of stabilizing the exchange rate of the dinar against the dollar as a “major process” that requires changes to the Iraqi commercial system and financial transfers outside the country.
This came in his speech during the first annual banking conference hosted by the city of Erbil under the slogan “The banking sector, opportunities for advancement and the future of international companies,” in its first edition.
Al-Alaq said in his speech, “The rules stipulated in the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2018 must be consolidated, and international practices and standards must be applied in a way that preserves the integrity of the financial system from local and international risks and procedures, and in a way that ensures the transparency and integrity of financial operations.”
He added, "We emphasize once again that these rules are what preserve the integrity of the financial system, and even protect Iraq from serious risks, and what is related to this matter is the relationship between the application of these rules and standards and the process of external transfer and the sale of the dollar in various forms."
Al-Alaq added, “There is a close relationship between establishing these standards and the smooth flow of transfer operations, and maintaining the stability of the exchange rate. To the extent of this commitment, we can determine monetary stability and exchange rate stability, which is a major process that requires making many changes and reorganizing the commercial system in Iraq.”
And the external transfer system and what is related to that,” noting that the Central Bank “is going through this process in daily details until it leads us to the right and correct path, and every day it opens a new channel to facilitate and accelerate this process.” link
************
CandyKisses: From Erbil. Al-Handal announces the opening of the "Iraqi Banking Conference in the Kurdistan Region"
From Erbil. Al-Handal announces the opening of the "Iraqi Banking Conference in the Kurdistan Region"
Economy News - Baghdad
The head of the Iraqi Private Banks Association, Wadih al-Handal, announced on Saturday the launch of the work of the "Iraqi Banking Conference in the Kurdistan Region."
In his speech, Al-Handal said: "I am pleased to welcome you with the most beautiful welcome from Erbil, the capital of the Kurdistan Region, and to convey to you my greetings, my brothers and colleagues, the chairmen of the boards of directors in private banks, the authorized managers and the executive management of the Association of Iraqi Private Banks (the Iraqi Banking Conference in the Kurdistan Region) under the patronage of the President of the Regional Government, Masrour Barzani, and announced the opening of the conference for its work on 21/10/2023."
He added: "Today, through the sessions of this conference, we will focus on important axes, including: -
The role of the banking sector in supporting growth and stimulating investment, and the importance of transforming the country into an attractive environment for internal and external investments in all sectors, the great opportunities available in this field and innovative solutions that will stimulate the private sector, and we will also address the obstacles that hinder this goal, including the provision of the necessary financing for investment projects and the consequent provision of job opportunities and growth in the private sector to mitigate of the constant pressure on the government's operating expenditures, which we must pay close attention to."
- We will also discuss the duty of developing the banking sector for its international relations and the role of the Central Bank in this field, and the plans set to reform, improve and equip the banking sector to be able to meet the future demand for diversified banking services and to be a strong alternative to the government banking sector in a more organized and flexible manner and in line with the latest international standards in the field of compliance, combating money laundering, technology adoption, and developing human capabilities.
"In light of the great acceleration of events and challenges in the world, there has recently been a significant development in the field of the structure of the banking sector, through the plans set by the Central Bank of Iraq and clear government programs for digital transformation on both sides of transactions and payments, and through the continued implementation of these plans at a rapid pace, this will lead to the emergence of significant positive results that greatly affect the economy in our country," he said.
"We aspire to come out of this conference with a common and future vision based on the importance of uniting efforts to improve the reality of the economy and improve the standard of living of our countrymen," concluded his speech
**************
Tishwash: What is the importance of the “electronic platform” in the Iraqi Central Bank’s transactions? A specialist explains
Today, Saturday (October 21, 2023), banking affairs specialist Hammam Al-Shamaa revealed the importance of the “electronic platform” in the Central Bank’s transactions to sell the dollar.
Al-Shamaa told “Baghdad Today” that “there is great importance in using the (electronic platform) in the Central Bank’s dealings with the sale of the dollar,” noting that “this platform prevented many illegal sales of the dollar as was happening previously, and it also prevented "A lot of currency smuggling operations abroad."
He explained that "Iraq cannot stop working on the electronic platform, because it was imposed on it by the US Federal Reserve, and this imposition came in order to prevent any incorrect external transfers, whose goal is only to transfer the dollar to Iraq."
Al-Shamaa confirmed, “After working on this platform, many of these operations were stopped, and for this reason some people began to rely on black transfers through some companies to extract dollars.”
On May 10, 2023, the Central Bank confirmed that it would continue to meet companies’ requests and finance the personal needs of all citizens.
A statement from the Central Bank, received by (Baghdad Today), said, “The bank continues to meet companies’ requests (financing their imports of goods and services), in addition to financing the personal needs of all citizens, such as travel, treatment, and study, through the electronic cash platform, and meeting the requests of banks and electronic payment companies to enhance... Their balances are to cover electronic payment card settlements (Visa, MasterCard) at the official exchange rate of 1,320 dinars per dollar.”
On (February 19, 2023), the Central Bank of Iraq announced a directive to licensed banks, exchange companies, and brokerage companies buying and selling foreign currency, to apply via the electronic platform to obtain their prescribed share of the foreign currency “dollar.”
According to a document issued by the Iraqi Central Bank, it stated, “The electronic platform for the cash sale of foreign currency (FITR) must be approved as of Monday, February 20, 2023.” link
Mot: It's called motivation!
Mot: .... Before I Was a Mom!!!!!
Goldilocks' Comments and Global Economic News Friday Afternoon 10-20-23
Goldilocks' Comments and Global Economic News Friday Afternoon 10-20-23
Good evening Dinar Recaps,
Here we go.
We talked of the next steps about a week ago in this room. How the war between Israel and Hamas would affect the supply chains of those who support these countries.
Maria Fernanda Garza shared in a recent interview said that our "Global value chain" has already been hit by the Ukrainian war and COVID-19. And now, we are dealing with another war in Israel.
Goldilocks' Comments and Global Economic News Friday Afternoon 10-20-23
Good evening Dinar Recaps,
Here we go.
We talked of the next steps about a week ago in this room. How the war between Israel and Hamas would affect the supply chains of those who support these countries.
Maria Fernanda Garza shared in a recent interview said that our "Global value chain" has already been hit by the Ukrainian war and COVID-19. And now, we are dealing with another war in Israel.
She suggested moving forward with the digitization of trade. This would minimize many of the destructive money flows being used to go to war efforts through efficiency and the movement of money quicker, so that, imports and exports to these countries can run much smoother.
The effects of War create value changes inside of an economy, and this includes the currencies many of these countries use to keep their country sustainable.
Many of the values on these currencies are already not sustainable as many countries have moved to trade in localized currencies.
The Global community currently has turned their attention toward movement into virtual currency trades inside our shipping ports. It will help accelerate the next economy as well.
Watch the water.
© Goldilocks
TheFinancialExpress Link
~~~~~~~~~~
Is This The Catalyst For Soaring Yields: Foreign Central Banks Dump US Treasuries For The First Time Since January
~~~~~~~~~~
Banking Announcement:
Chinese investors’ sales of US stocks and bonds hit four-year high.
~~~~~~~~~~
BRICS: Chinese Yuan Surpasses Euro, Becomes Second Main SWIFT Currency
https://watcher.guru/news/brics-chinese-yuan-surpasses-euro-swift-currency
~~~~~~~~~~
BREAKING NEWS XRP RIPPLE LAWSUIT IS OVER!!!
https://youtu.be/L5kLEI21FvM?feature=shared
~~~~~~~~~~
RIPPLE XRP🚨OH YEAH! ITS FINALLY OVER!🔥PREPARE FOR A NEW ATH?
https://youtu.be/acs-YP5wZYk?feature=shared
~~~~~~~~~~
Ripple is free to expand. Look for several smart contracts to go out between Ripple and Banks all over the World today.
As we have also spoken of in this room, new economies and new values on the currencies that support these economies rise from the ashes during a time of War.
We are about to see a Ripple effect in the banking system that will change the landscape of the Global Financial system resetting everything in its path.
As the old Financial System falls, the new digital asset-based trading system will emerge as a solution.
© Goldilocks
~~~~~~~~~~
Things are changing rapidly my friends. This war will hide many of the economic shifts currently taking place that you are aware of in this room.
What you and I have been watching for closely has been the revaluing of an economic system from a Traditional Banking framework to a digitized system run through Quantum Technologies.
This new Quantum Financial System is shaping up to be a historical moment in the making. Congress has been working on this for over 2 years at this point, and it will be fine-tuned for years to come.
Look for things to begin moving rapidly at the end of this month going into November to shift our Global Economy into the next stage of evolution unlike any we have ever seen before.
© Goldilocks
~~~~~~~~~~
Why the OCC's tokenization discussion should matter to you
~~~~~~~~~~
U.S. must help lead on setting digital policies for global trade, says Young
~~~~~~~~~~
FDIC lacks ‘clear procedures’ for crypto-related risks, report says
https://www.blockworks.co/news/fdic-crypto-risk-report via @Blockworks
~~~~~~~~~~
Indonesia Now Considering To Join BRICS Alliance
https://watcher.guru/news/indonesia-now-considering-to-join-brics-alliance
~~~~~~~~~~
Zimbabwe Banking Announcement follow up
The mission assisted the staff of the Reserve Bank of Zimbabwe (RBZ) to compile financial soundness indicators (FSIs) in line with the IMF’s 2019 FSIs Compilation Guide, and introduced a framework for incorporating new FSIs for insurance corporations.
IMF Link
~~~~~~~~~~
Alert! WORLDWIDE TERROR ALERT ISSUED. EXPECT ANOTHER MAJOR F@LSE FLAG EVENT TO OCCUR..
~~~~~~~~~~
NEW - ECB's Lagarde: "The digital euro is on the move."
Disclose
Listen in Goldilocks' room here: https://t.me/c/1545617426/70354
~~~~~~~~~~
Amazon Launches Humanoid Robots into warehouses...
Watch in Goldilocks' room here: https://t.me/c/1545617426/70355
~~~~~~~~~~
It has come to my attention that Jon Dowling @ The Real World page has been copying word for word my postings and putting a copyright under Jon Dowling's name.
This is plagiarism and it is illegal. If you or your friends are following this page, he is being very misleading.
To make sure you are getting the right information from the right person, you may want to join my page to know for sure you are getting the right information.
© Goldilocks
Goldilocks Room Link:
https://t.me/+YU9UrHLxFbszOTJh
~~~~~~~~~~
JUST IN: 🇨🇳 Chinese Yuan surpasses the Euro to become world's second most used currency for SWIFT trade settlements.
@WatcherGuru
~~~~~~~~~~
BREAKING NEWS
THE RAPIDLY INCREASING U.S. NATIONAL DEBT MAY SOON RESULT IN THE GOVERNMENT SPENDING MORE ON INTEREST PAYMENTS THAN DEFENCE
A massive debt burden impacts national security.
This is proof.
Read: https://x.com/goldtelegraph_/status/1715441623784673291?s=46
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Thank you Dinar Recaps -- www.DinarRecaps.com
Vietnam and Zimbabwe News Posted by Harambe at TNT 10-20-2023
TNT:
Harambe: Vietnam enhances positions in global value chain | Business | Vietnam+ (10/20/23)
The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.
Statistics from Savills Vietnam, a property consultancy firm, showed that there were 2,508 FDI projects of EU countries in Vietnam as of June, with total registered capital of 28.91 billion USD. The figure represents a significant increase compared to 18 billion USD in 1,623 projects in 2016.
TNT:
Harambe: Vietnam enhances positions in global value chain | Business | Vietnam+ (10/20/23)
The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts.
Statistics from Savills Vietnam, a property consultancy firm, showed that there were 2,508 FDI projects of EU countries in Vietnam as of June, with total registered capital of 28.91 billion USD. The figure represents a significant increase compared to 18 billion USD in 1,623 projects in 2016.
The Q3 Business Confidence Index (BCI) report of the European Chamber of Commerce in Vietnam (EuroCham) released in mid-October showed that more than two years after its implementation, the European Union -Vietnam Free Trade Agreement (EVFTA) is continuing to have a positive impact on Vietnam's business landscape. More than 60% of businesses think the deal is beneficial, with the top benefit being tax cuts, followed by improved competitiveness, reduced trade barriers, and expanded partnerships with local firms and increased access to the Vietnamese market.
As for the US market, the recent visit of President Joe Biden along with upgrading their comprehensive cooperative relationship, the interest of investors in this market is expected to increase in the coming time.
According to John Campbell, manager of Industrial Services at Savills Vietnam, although this event only took place about a month ago and will take time to see clear impacts, many US investors have shown their interest in projects in Vietnam.
A Savills Vietnam's research pointed out that in 2016-2022 period, a sudden increase in the export of electronics and phone reflects an improvement in Vietnam's position in the global value chain. Specifically, in the period, the export value of electronic, phones and machinery products increased by 193%, 68% and 336% respectively.
Vietnam is focusing on attracting high value-added investments by improving its workforce and infrastructure while creating favourable conditions for small and medium-sized enterprises and support industries, Campbell said, adding that these efforts have been recognised by many large investors and Vietnam have been included in their future development plans.
Vietnam's BCI in the third quarter of 2023 has increased to 45.1% from 43.5% in the second quarter of this year, according to EuroCham.
The country's global investment attractiveness remains strong, with 63% of surveyed businesses ranking the country in the top 10 FDI destinations, it said. In particular, 31% ranked Vietnam in the top three investment locations.
EuroCham Chairman Gabor Fluit, however, said that while promising Q3 GDP and FDI growth is seen, issues persist - especially with exports and real estate.
He went on to say that addressing administrative burdens, unclear regulations, and permitting hurdles is crucial to achieving progress.
Campbell suggested that to attract world-leading large companies, it is necessary for industrial park developers in Vietnam to focus on value-added services and incentives in addition to price and rentals such as market entry services, human resources and legal support, management services, sustainability initiatives and working with professional industrial real estate agencies.
https://en.vietnamplus.vn/vietnam-enhances-positions-in-global-value-chain/269943.vnp
Harambe: Zimbabwe’s Plan to Drop US Dollar in 2025 Seen as Non-Starter | Bloomberg (10/19/23)
The US dollar will remain the dominant currency in Zimbabwe even after the government’s December 2025 deadline to stop its use in the economy, the country’s largest independent asset manager said.
Imara Asset Management, which oversees more than $100 million, said the dollarization of the economy is actually accelerating since authorities curbed the local currency’s availability in July to preserve its value. Data from the national statistics agency showed 80% of all economic transactions in Zimbabwe are now done in the greenback, up from 75% earlier this year.
“We are making the bold assumption that the US dollar will remain in place for a good while yet,” wrote John Legat and Shelton Sibanda, the company’s chief executive officer and chief investment officer, wrote in a quarterly note to clients Thursday. “The loss of the use of the US dollar would be a disaster for the economy.”
The Zimbabwe dollar has had a rocky history. The southern African nation abandoned it in 2009 when hyperinflation set in, and turned to the US dollar as the main medium of exchange. The currency was reintroduced in June 2019, outlawing all other legal tenders including the greenback. But again, that policy policy was reversed in April 2020 following the onset of the coronavirus pandemic. The government currently plans to allow the use of the US dollar until December 2025 and no more.
The uncertainty over the next currency regime has forced banks to be cautious on lending beyond 2025. That’s raised borrowing costs for businesses and individuals and also curtailed the availability of funding for long-term investments. Previously, US dollar loans from banks were paid off in the local currency, with lenders suffering losses from the foreign-exchange volatility.
Banks and citizens want a stable currency that stores the value of their money and a stable environment must be created in the medium to long-term, according to Lawrence Nyazema, president of the Bankers Association of Zimbabwe.
“There is nothing wrong with using a mono-currency,” as long as the local unit is stable, said Nyazema. “The use of multi-currencies beyond December 2025 imply that banks can continue lending in the same currencies beyond the period.”
Finance Minister Mthuli Ncube said last week that authorities were “mulling over” the next steps on the currency policy. “We will not do things in a manner that will jeopardize the growth that we have seen so far,” said Ncube.
Zimbabwe’s President Emmerson Mnangagwa has fiercely defended a return to the sole use of the Zimbabwe dollar.
Meanwhile, Imara also cast doubt on the gold-backed digital money, the so-called “ZiG” launched earlier this month. It said there is no proof that the ZiG is either backed by any physical gold or can be converted into gold and is largely a “project” of the central bank.
“Whether the ministry of finance also supports the concept is still relatively unknown,” the Harare-based brokerage said.
Iraq Economic News and Points to Ponder Friday Afternoon 10-20-23
Iraq Economic News and Points to Ponder Friday Afternoon 10-20-23
Tlm724 Administrator Bondlady’s Corner
Member Of Parliamentary Investment: The Government’s Approach Is Not To Delay Budget Instructions
Time: 10/20/2023 13:04:42 Read: 572 times {Economic: Al-Furat News} A member of the Parliamentary Investment Committee attributed the delay in issuing the financial budget instructions to the appeals submitted to them in the Federal Court.
Iraq Economic News and Points to Ponder Friday Afternoon 10-20-23
Tlm724 Administrator Bondlady’s Corner
Member Of Parliamentary Investment: The Government’s Approach Is Not To Delay Budget Instructions
Time: 10/20/2023 13:04:42 Read: 572 times {Economic: Al-Furat News} A member of the Parliamentary Investment Committee attributed the delay in issuing the financial budget instructions to the appeals submitted to them in the Federal Court.
Asaad Al-Bazouni told {Al-Furat News} agency, “We do not expect that there is a government trend regarding delaying the issuance of budget instructions, and that the financial allocations are in place and the government has taken some measures in this regard, and that the delay may be due to the completion of the budget file and its appeals.”
He added, "We do not expect that the government's approach will be delayed."
On June 12, the House of Representatives voted on the federal budget law for the years 2023-2024-2025, after discussions that lasted for five days.
On August 7, the Federal Supreme Court decided the federal government’s appeal of the budget law.
Parliamentarians attributed the Ministry of Finance’s delay in the allocations to ministries and governorates more than five months after approving the budget to “a lack of financial liquidity, or to crossing the largest possible period of time to move away from the financial deficit, or to the delay that occurred in legislating the law and then in issuing implementation instructions,” while others attributed it. to fear that its funds would be exploited in the local elections scheduled for next December 18.
Iraq, for the first time in its history, approved a three-year financial budget in a single draft law, which Parliament voted on last June, and the government defended the move by saying that it aims to develop plans for important projects in The country, in addition to avoiding the problem of delaying the approval of financial budgets every year for several months.
The budget for the current year and the next two years, according to the budget law, amounted to 153 billion dollars, with an expected deficit of up to 48 billion dollars, and the price of oil was approved at 70 dollars per barrel, as exports constitute... Iraqi oil represents more than 96% of Iraq's financial imports.
Oil Prices Are Rising
Economy | 10:41 - 10/20/2023 Baghdad - Mawazine News Oil prices rose today, Friday, with the escalation of geopolitical unrest in the Middle East, a region rich in oil resources, and the markets’ fear that crude supplies to the markets would be affected by the events.
By 09:32 Baghdad time, US West Texas Intermediate crude futures rose by 0.93% to $90.20 per barrel.
Global Brent crude futures also rose by 0.76% to $93.08 per barrel, according to Bloomberg data. Ended
Al-Abadi Hosts An Elite Group Of Economists And Financial Affairs Specialists
Thursday 19, October 2023 00:31 | Economical Number of readings: 506 Baghdad / NINA / The head of the Victory Coalition, Haider Al-Abadi, hosted an elite group of economists and financial affairs specialists, as part of his series of weekly meetings with the elites of Iraqi society.
The meeting began, according to a statement from Al-Abadi’s office, by reciting Surat Al-Fatihah for the souls of the martyrs of the Israeli violations in Gaza, and discussing the impact of this situation on the security, political and economic stability of the region.
At the local level, Al-Abadi indicated that the current financial situation is good and there is no problem, but spending must be controlled strategically.
It is not possible to open many large areas for spending without considering the possibility of a decline in oil prices, which are constantly losing value despite their rise for temporary reasons such as wars.
Regarding the dollar exchange rate, Al-Abadi described the platform’s work as correct, but he added:
“There are unclear and bureaucratic procedures followed by official institutions and the market alike, and this confuses financial movement and increases the currency differential, which pushes to the black market and raises the requirements of living, especially with... The presence of large amounts of money from corruption sources, which constitutes an obstacle for the middle and poor classes regarding real estate prices.”
For their part, the attendees discussed economic and financial issues from many aspects, the
first of which was what they described as legislative failures and the delay in paying attention to the relevant laws, leading to the importance of financial management infrastructure that avoids deficit and debt.
While they warned of the financial demands of some political parties on investors; Because this hinders investment, especially by large companies that Iraq needs.
They pointed out the need to activate the private sector, develop a special strategy for oil and energy projects, and create a sovereign fund for all of Iraq. /End 9
https://ninanews.com/Website/News/Details?key=1084660
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Points to Ponder on FEAR:
52. When you are grateful, fear disappears and abundance appears. ~ Anthony Robbins
53. There is no beauty in sadness. No honor in suffering. No growth in fear. No relief in hate. It’s just a waste of perfectly good happiness. ~ Katerina Stoykova Klemer
54. Courage is knowing what not to fear. ~ Plato
55. A further sign of health is that we don’t become undone by fear and trembling, but we take it as a message that it’s time to stop struggling and look directly at what’s threatening us.~ Pema Chodron
56. We cannot love when we feel fear…When we release the fearful past and forgive everyone, we will experience total love and oneness with all. ~ Gerald Jampolsky
57. Life can take so many twists and turns. You can’t ever count yourself out. Even if you’re really afraid at some point, you can’t think that there’s no room for you to grow and do something good with your life. ~ Portia de Rossi
58. Never worry alone. When anxiety grabs my mind, it is self-perpetuating. Worrisome thoughts reproduce faster than rabbits, so one of the most powerful ways to stop the spiral of worry is simply to disclose my worry to a friend…The simple act of reassurance from another human being [becomes] a tool of the Spirit to cast out fear — because peace and fear are both contagious. ~ John Ortberg
59. I’m terrified of getting involved with someone who disappoints me or leaves me empty and alone. I’m terrified of rejection, so I set my expectations so high that they can never be met, and I dig around with a magnifying glass looking for flaws in very person I date. There’s always a flaw to exploit, and I’ll find it so I never have to get too close. ~ Rachel Machacek
60. If a fear cannot be articulated, it can’t be conquered. ~ Stephen King
"Tidbits From TNT" Friday 10-20-2023
TNT:
CandyKisses: The job number "exposes" more than 3,000 "dual" employees in Najaf... and the governor is taking action
Baghdad today - Najaf
Today, Friday (October 20, 2023), the Governor of Najaf, Majid Al-Waeli, directed the suspension of the salaries of 3,363 double-salary employees in the governorate.
The governor's media office stated in a statement received by "Baghdad Today" that "Governor Majid Al-Waeli announces the suspension of the salaries of 3,363 employees due to double salaries after activating the job number."
He added, "250 employees had their salaries suspended on June 12 of last year, 2022. "
TNT:
CandyKisses: The job number "exposes" more than 3,000 "dual" employees in Najaf... and the governor is taking action
Baghdad today - Najaf
Today, Friday (October 20, 2023), the Governor of Najaf, Majid Al-Waeli, directed the suspension of the salaries of 3,363 double-salary employees in the governorate.
The governor's media office stated in a statement received by "Baghdad Today" that "Governor Majid Al-Waeli announces the suspension of the salaries of 3,363 employees due to double salaries after activating the job number."
He added, "250 employees had their salaries suspended on June 12 of last year, 2022. "
CandyKisses: Iraq to charge Customs Duties/Taxes "Exclusively in Iraqi Dinars"
By John Lee.
The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars.
According to Decree No. 227 of the Council of Ministers, dated September 20, 2023, customs duties and taxes at border crossings will now be exclusively levied in Iraqi dinar instead of US dollars. Non-compliance with this new regulation will result in penalties.
This decree, issued in accordance with Article 8 of the Kurdistan Regional's Council of Ministers Law (amended No. 3 of 1992) and based on the recommendation of the Minister of Finance and Economy, establishes the sole use of Iraqi dinar for customs duties and taxes at border crossings.
Furthermore, the decree underscores that all ministries and relevant government institutions are required to adhere to this regulation, with violations at border crossings subject to punishment.
(Source: Ministry of Oil)
************
CandyKisses: Trenches dug... American forces tighten their procedures at the "Harir Base" in Erbil
Baghdad today - Erbil
A security source revealed today, Friday (October 20, 2023), that the American forces stationed at the Harir base in Erbil have taken strict security measures.
The source said in an interview with "Baghdad Today", "The American forces have taken the highest levels of caution and there are trenches being dug inside the base for fear of new attacks targeting the base after targeting the Ain al-Asad base in Anbar Governorate."
He added, "The American Consulate has also taken strict precautionary measures, and there is a deployment of reconnaissance aircraft on the outskirts of Erbil."
Yesterday, Thursday (October 19, 2023), the US Department of Defense (the Pentagon) confirmed the death of a contractor targeting the Ain al-Assad base in western Iraq.
Earlier, a security source said in an interview with "Baghdad Today", that "shelling with Grad missiles (from 3-4), targeted the base of Ain al-Assad west of Anbar," indicating that "a force from the command of the island forces and the Badia / Brigade 29 in the seventh division, found a rocket launcher, and was able to neutralize two missiles that were intended to launch."
*************
Tishwash: The Chinese sell the largest amount of US stocks and bonds in four years
Chinese investors sold the largest amount of US stocks and bonds in four years in August, raising speculation that Beijing had taken a step to give itself greater leverage in its defense of its weak renminbi currency.
About $15 billion of the total net sales of $21.2 billion came from the disposal of U.S. Treasuries, according to data from the U.S. Treasury Department, which tracks trades made by investors such as China's central bank, mutual funds and retail investors.
Stock sales totaled about $5 billion — a record for monthly sales of US stocks by Chinese investors — while investors also sold agency bonds, that is, those issued by government-linked companies.
The rise in US securities sales coincided with efforts by Beijing to intensify its defense of the renminbi exchange rate against the dollar, which has come under pressure from slowing economic growth and capital outflows.
“There is market speculation that this reflects China divesting from US Treasuries in order to increase its reserves to defend the renminbi,” said Stephen Innes, managing partner at SPI Asset Management.
The yuan fell by 5.7 percent against the dollar this year, as the widening interest rate differential between Chinese and American debt prompted foreign investors to withdraw money from the country's bond market.
Slowing economic growth and a liquidity crisis in the real estate sector also raised concerns about capital flight and increased downward pressure on the currency.
Investors grew increasingly concerned in August about how well China's central bank could defend the renminbi without further declines.
However, Innes said it had since been more successful in easing downward pressure by setting the currency's trading range higher than investors' expectations and having government lenders intervene in the market on its behalf.
“We don't know for sure what's happening at the central bank, but we can assume it's probably a combination of factors,” Innes said, adding that the People's Bank of China's foreign reserves have remained stable in recent months.
But although there is no direct confirmation of what prompted Chinese investors to sell US securities in August, analysts said the timing of the sales was in line with the floor of the renminbi-dollar exchange rate.
“In August, we started to see a change in policy from the People’s Bank of China,” said Ken Cheung, chief Asian foreign exchange strategist at Mizuho Bank. “That was when they started putting foreign exchange stability at the top of the monetary policy agenda thanks to money outflow pressures.”
The selling also came before US government bonds fell over the past two months, sending the 10-year US Treasury yield to its highest level since the early stages of the global financial crisis. link
Mot: ... a Wonderful Cycle fur Sure!!!
Mot: ... Yah Dude!!! --------
Iraq Economic News Highlights and Points to Ponder Friday AM 10-20-23
Iraq Economic News Highlights and Points to Ponder Friday AM 10-20-23
How Did The Regional Government Participate In The "Dollar Speculation" Crisis In Iraq?
Economy |Baghdad today – Kurdistan Kurdish economist Farman Hussein confirmed today, Thursday (October 19, 2023), that the Kurdistan Regional Government bears part of the crisis of the instability of the dollar exchange rate.
Hussein said in an interview with “Baghdad Today” that, “In addition to the central bank and official institutions in Iraq, the regional government is also a partner in the dollar crisis.”
Iraq Economic News Highlights and Points to Ponder Friday AM 10-20-23
How Did The Regional Government Participate In The "Dollar Speculation" Crisis In Iraq?
Economy |Baghdad today – Kurdistan Kurdish economist Farman Hussein confirmed today, Thursday (October 19, 2023), that the Kurdistan Regional Government bears part of the crisis of the instability of the dollar exchange rate.
Hussein said in an interview with “Baghdad Today” that, “In addition to the central bank and official institutions in Iraq, the regional government is also a partner in the dollar crisis.”
He added, "The Kurdistan government cannot control the black market and the smuggling of hard currency through border crossings and airports in Kurdistan, and through unlicensed companies, and this matter has further complicated the crisis."
Earlier today, Kurdistan Customs Director Samal Abdul Rahman revealed that strict measures had been taken to prevent the smuggling of dollars and hard currency from the region.
Abdul Rahman told Baghdad Today, “The decision to collect fees in Iraqi dinars at border crossings is an important decision aimed at preserving the hard currency and also strengthening the Iraqi dinar.”
He added, “This measure is very important, and a good step aimed at strengthening the dinar, and the measures taken by the Customs Directorate at all ports and airports are deterrent measures for the purpose of preventing smuggling.”
Last Monday, the Kurdistan Regional Government decided to collect taxes and fees at border crossings in Iraqi dinars, instead of the US dollar.
The Department of Media and Information stated in a statement, “Based on a decision issued by the Kurdistan Region Council of Ministers, customs duties and taxes at border crossings and customs points will be collected in Iraqi dinars instead of dollars,” indicating that “any party that does not adhere to this decision will be subject to punishment.”
She stressed that “all ministries and relevant authorities will be bound by this decision, and in the event of any violation occurring at one of the border crossings or customs points, the violator will be subject to punishment.”
Experts point out that some of these cash sales allocated to travelers leak into the black market and are purchased by merchants to finance their trade with countries banned from the dollar, led by Iran, from which Iraq’s annual import volume amounts to approximately 10 billion dollars.
Others warned of the repercussions of some banks not handing over dollars to “travelers,” while stressing that the continuation of the matter would lead to an increase in demand for the dollar in the parallel market and thus an increase in the exchange rate.
Many private banks and exchange companies are accused of being involved in smuggling the dollar, leaking it to the black market, and seizing large quantities of currency auction sales. The accusations also targeted the National Bank of Iraq (Jordan) of seizing 70% of the Central Bank’s daily dollar sales. LINK
Two Months Until The End Of The Year, And Kurdistan Received Only 48% Of Its Budget.. What Is The Secret? - Urgent
Economy |Baghdad today – Erbil Although there are only two months left until the end of the fiscal year, the Kurdistan region has received only 48% of its share of the budget so far from the total money sent from Baghdad, in addition to the revenues from the border crossings in the region.
A member of the Kurdistan Democratic Party, Wafa Muhammad Karim, confirmed today, Thursday (October 19, 2023), that the region’s share of the financial budget for 2023 is 16 trillion and 400 billion dinars.
Karim said in an interview with “Baghdad Today” that, “Until now, even though there are only two months left until the end of the current year, Baghdad and the revenues of the border crossings in Kurdistan, the total amount it has sent to the region has not exceeded 8 and a half trillion.”
He added, "There is a great blame from the regional government on the federal government for not fulfilling its obligations towards the people of the region, the most important of which is the issue of employee salaries. There are parties obstructing the process of disbursing salaries for political reasons."
But the root of the dispute is that the region’s share is calculated from “actual spending” and not according to the numbers stated in the budget. Although the budget amounts to 199 trillion dinars, until the end of last July, the Iraqi state’s expenditures amounted to only 54 trillion dinars. This means that during 9 In months, it would have reached 69 trillion dinars, and if Kurdistan's share of 12.6% is calculated, then the region's share of actual spending would be exactly 8 trillion Iraqi dinars. LINK
Deputy: America Bears The Burden Of Corruption And Strife In Iraq
Posted On2023-10-20 By Sotaliraq Representative Waad Al-Qaddo accused the United States of America of stirring up strife and supporting the corrupt in Iraq.
Al-Qaddo said, “America did not come to Iraq after 2003 to liberate it, but rather to plunder its resources, stir up strife, and spread corruption in its governmental institutions,” noting that “America bears the brunt of the people’s woes over the course of 20 years.”
He added, “America’s goal revolves around three points: weakening its security and civil institutions and plundering its resources, in addition to the fact that corruption is the evil seed that hinders any country’s progress forward, regardless of its resources.”
He pointed out that “America relied on planting corrupt people in state institutions after 2003, especially in security institutions, but the situation has changed and there are government efforts that have taken important dimensions in exposing corruption networks and bringing them to justice.”
Iraq suffers from great corruption in its governmental institutions, whether civil or security, which has created major problems over the past years. LINK
Kuwait Calls On Iraq To Address The Repercussions Of The Ruling Issued By The Federal Court Regarding “Khor Abdullah”
Posted On2023-10-20 By Sotaliraq Mishal Al-Ahmad Al-Jaber Al-Sabah, representative of the Emir of the State of Kuwait, called on Iraq today, Friday, to take measures to address the repercussions of the ruling issued by the Federal Supreme Court invalidating the agreement concluded between the two countries regarding the regulation of maritime navigation in “Khor Abdullah.”
This came in a speech he delivered before the first meeting of the leaders of the Gulf Cooperation Council countries and the leaders of the Asian Association (ASEAN), which was held in the Saudi capital, Riyadh.
Al-Sabah said during the speech, “Based on the State of Kuwait’s keenness on good neighborliness, it stresses the need for the Iraqi government to take urgent, decisive measures to address the repercussions of the ruling issued regarding navigation in (Khor Abdullah).”
On September 4, the Federal Supreme Court (the highest judicial authority in Iraq) ruled that the law ratifying the maritime navigation agreement in Khor Abdullah with Kuwait was unconstitutional.
The Kuwaiti Ministry of Foreign Affairs had handed the Iraqi ambassador to Kuwait a memorandum of protest against the Federal Court’s ruling regarding the agreement to regulate navigation in Khor Abdullah.
The agreement to regulate maritime navigation in Khor Abdullah is an international border agreement between Iraq and Kuwait, ratified in Baghdad on November 25, 2013 in implementation of Resolution No. 833 issued by the Security Council in 1993 after several decisions that followed the Iraqi invasion of Kuwait in 1990, and to complete the procedures Demarcating the borders between the two countries, and setting an accurate definition of their coordinates on the basis of the agreement concluded between the two countries after the independence of Kuwait in 1961.
This agreement led to the division of Khor Abdullah between the two countries, which is located in the far north of the Arabian Gulf between the Iraqi Al-Faw Peninsula and both the Kuwaiti islands of Boubyan and Warba, where the navigational corridor located at the meeting point of the navigational canal in Khor Abdullah with the international border was divided between the maritime border point No. 156 and No. 157 heading south to point 162 and then to the beginning of the entrance to the navigation channel at the entrance to Khor Abdullah. It also led to the establishment of new ports.
This agreement sparked great controversy in Iraq, as a group of Iraqi politicians saw that the then Iraqi Prime Minister Nouri al-Maliki and the Iraqi Parliament had ceded part of Khor Abdullah, which is the only shipping lane leading to most Iraqi ports, and that the division came by dividing, not based on Taluk line, i.e. the deepest passage in which maritime navigation is permitted.
While the other team defended the agreement as a continuation of the demarcation of borders based on an international resolution, which in reality led to the establishment of Mubarak Al-Kabeer Port on the western shore of Khor Abdullah on the Kuwaiti island of Boubyan, which is supposed to be connected by railway with Iraq in the future, as it will be one of the... The largest port in the Gulf by its capacity.
It is noteworthy that the Kuwaiti Mubarak Port project itself has also sparked controversy, due to the Kuwaiti government choosing its location on the western bank of Khor Abdullah on Bubiyan Island, the shipping lane leading to Iraqi ports, as voices appeared in Iraq calling for the transfer of this port to the southern shore of the island overlooking The Gulf, instead of the current location, to avoid any future ship congestion in this shipping lane after the completion of the four construction phases of the project.
The Kuwaiti government denied its seizure of any Iraqi lands because of this agreement, and stressed that Kuwait is committed to its maritime borders with Iraq. LINK
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.
Looming Issues Tip Scales Toward Global Recession
Looming Issues Tip Scales Toward Global Recession
US Treasury: American Money Crisis ‘By No Means Unsolvable’ — But Looming Issues Tip Scales Toward Global Recession
October 17, 2023 By Yaёl Bizouati-Kennedy
On Oct. 16, Treasury Secretary Janet Yellen said that while higher interest rates may persist, the country’s fiscal situation “is by no means unsolvable.” “We have to be attentive to it,” Yellen told Sky News, according to Bloomberg.
Yellen said the country can “certainly” afford to support wars on two fronts, as the conflict between Israel and Hamas threatens stability in the Middle East and the U.S. continues to back Ukraine’s fight against Russia, per Sky News. Yellen also said, however, it was too early to foresee whether this new conflict could push the global economy into recession.
Looming Issues Tip Scales Toward Global Recession
US Treasury: American Money Crisis ‘By No Means Unsolvable’ — But Looming Issues Tip Scales Toward Global Recession
October 17, 2023 By Yaёl Bizouati-Kennedy
On Oct. 16, Treasury Secretary Janet Yellen said that while higher interest rates may persist, the country’s fiscal situation “is by no means unsolvable.” “We have to be attentive to it,” Yellen told Sky News, according to Bloomberg.
Yellen said the country can “certainly” afford to support wars on two fronts, as the conflict between Israel and Hamas threatens stability in the Middle East and the U.S. continues to back Ukraine’s fight against Russia, per Sky News. Yellen also said, however, it was too early to foresee whether this new conflict could push the global economy into recession.
“We’re looking at the economic implications of the hostilities here,” she said, as detailed by Bloomberg. “I think it’s too early to speculate on whether or not there will be significant consequences. I think importantly, it depends on whether the hostilities extend beyond Israel and Gaza, and that’s certainly an outcome we would like to avoid.”
The interview came ahead of the Eurogroup Finance Ministers Meeting in Luxembourg.
At the meeting, Yellen said the United States and the European Union have forged an exceptionally strong partnership, a scenario which is crucial to addressing global challenges and to advancing shared priorities.
“And in large part because of our collective work, the global economy is in a better place today than many thought it might be,” she said, according to her prepared remarks.
Dr. Ryan M. Yonk, economist with the American Institute for Economic Research, said that while Yellen is correct — the economic issues of high debt and interest rates are solvable — solving them requires a change in mindset about not just the technical details of how monetary policy is implemented (or spending is allocated), but about spending as well.
“The solution for the issues she and others correctly diagnose requires that policymakers cease to justify their own spending preferences at all costs,” he said. “The current economic situation is one where a large-scale recession is possible, high interest rates are likely to continue, and where current geopolitical issues may have significant negative economic effects.”
To continue reading, please go to the original article here:
MilitiaMan: International Iraq Dinar - Goals - Regional - Global - Private Sector - A Focus
International Iraq Dinar - Goals - Regional - Global - Private Sector - A Focus
MilitiaMan and Crew: 10-19-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
International Iraq Dinar - Goals - Regional - Global - Private Sector - A Focus
MilitiaMan and Crew: 10-19-2023
The Crew: Samson, PompeyPeter, Petra, Angel1, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
Goldilocks' Comments and Global Economic News Late Thursday Evening 10-19-23
Goldilocks' Comments and Global Economic News Late Thursday Evening 10-19-23
Good evening Dinar Recaps,
Iraq to charge Customs Duties/Taxes “Exclusively in Iraqi Dinars”
The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars.
Goldilocks' Comments and Global Economic News Late Thursday Evening 10-19-23
Good evening Dinar Recaps,
Iraq to charge Customs Duties/Taxes “Exclusively in Iraqi Dinars”
The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars.
Search 4 Dinar Link
~~~~~~~~~~
WE ARE 1 MONTH AWAY!💥XDC XRP XLM💥YOU DON'T HAVE UNTIL 2025
https://youtu.be/IzIZsA3XFKU?feature=shared
~~~~~~~~~~
As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ in updating regulations to the Basel III capital framework. The mission reviewed Zimbabwe’s capital framework (laws, guidelines, and templates of prudential returns), identified areas to update capital requirements, discussed these areas with the management of the RBZ, and provided recommendations for drafting amendments in line with the Basel II/III framework approaches assessed as the most suitable to the Zimbabwean financial market characteristics.
IMF Link
~~~~~~~~~~
Congress could grant the temporary House speaker more power. Here’s how.
~~~~~~~~~~
JUST IN: 🇺🇸 FED Chair Jerome Powell says the current fiscal path we're on is unsustainable.
@WatcherGuru
~~~~~~~~~~
JUST IN: JP Morgan expects the SEC to approve multiple Spot Bitcoin ETF's within months.
@WatcherGuru
~~~~~~~~~~
JUST IN: Ripple XRP CEO Brad Garlinghouse releases statement following SEC dropping lawsuit against him.
@WatcherGuru
~~~~~~~~~~
Gold is reaching all-time highs in various fiat currencies, yet many still think it's merely a coincidence that central banks are accumulating record amounts of it
How do you define sheep?
Central bank gold holdings are now at their highest since Bretton Woods
Canada has zero
Read: https://x.com/goldtelegraph_/status/1715149158984880218?s=46
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Thank you Dinar Recaps -- www.DinarRecaps.com
Goldilocks' Comments and Global Economic News Thursday Evening 10-19-23
Goldilocks' Comments and Global Economic News Thursday Evening 10-19-23
Good evening Dinar Recaps,
CBI Bank Announcement:
Iraq's central bank temporarily suspends International transfers by Western Union
~~~~~~~~~~
WITHIN RIPPLE DOCUMENTATION SHOWS JP MORGAN IS CONNECTED TO ON-DEMAND LIQUIDITY(XRP) + JP MORGAN NOVEMBER 2023 TARGET DATE + JP MORGAN IS 50% OF ISO 20022 CBPR TRAFFIC
Goldilocks' Comments and Global Economic News Thursday Evening 10-19-23
Good evening Dinar Recaps,
CBI Bank Announcement:
Iraq's central bank temporarily suspends International transfers by Western Union
Shafaq Link
~~~~~~~~~~
WITHIN RIPPLE DOCUMENTATION SHOWS JP MORGAN IS CONNECTED TO ON-DEMAND LIQUIDITY(XRP) + JP MORGAN NOVEMBER 2023 TARGET DATE + JP MORGAN IS 50% OF ISO 20022 CBPR TRAFFIC
https://twitter.com/Rohitku24694375/status/1714967495143272600?t=MKmFV_hpkqGl_b5UG0mXIQ&s=19
~~~~~~~~~~
Once Protocol 20 is finished with their testing and the vote to move forward, we are going to see a lot of upgrades in the month of November and the beginning stages of Quantum Technology implementation/interface take place on a larger scale.
At this time, we should see several networks connect globally and move into cross-border international trading in the new digital asset-based trading system.
I look to see real-world assets such as gold and virtual currencies with real-world values begin to form new price pressures on our new tokenized assets standardizing new protocols in cross-border international trading.
© Goldilocks
https://twitter.com/Rohitku24694375/status/1714967495143272600?t=MKmFV_hpkqGl_b5UG0mXIQ&s=19
~~~~~~~~~~
Just to give you an idea of what is about to happen.
The new digital economy backed by real-world assets such as gold and other commodities are about to become the drivers of the market going forward.
These new tokenized assets contain virtual currencies known as stablecoins. Stablecoins represent a country's currencies.
Money velocity will speed up the processing of money across borders creating new demands on each country's currency going forward through virtual assets.
These new demands will create price pressures on each country's currencies.
© Goldilocks
Investopedia Link
https://cedcommerce.com/blog/cross-border-trade-all-you-need-to-know/amp/
~~~~~~~~~~
Why Stellar, Toncoin, and VC Spectra are Grabbing the Attention of Big Investors
~~~~~~~~~~
Press release: CPMI sets out harmonized ISO 20022 data requirements for enhancing cross-border payments
https://www.bis.org/press/p231017.htm
~~~~~~~~~~
Joint Readout of Principals’ Meeting of UK and U.S. Authorities Regarding Central Counterparty Resolution
October 17, 2023
Senior officials from the Bank of England, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Federal Reserve Board convened a hybrid meeting today to discuss certain issues relating to the resolution of a central counterparty (CCP).
This meeting was one of a regular series of senior-level meetings held since 2017 to share views on CCP resolution and review the progress of an ongoing program of joint work among the agencies.
Today’s meeting was an opportunity to review recent joint work undertaken by the agencies, in particular the information sharing and communications arrangements to support resolution planning for U.S. and UK CCPs. Senior officials also confirmed priorities for future work, which will include continuing to share analyses and discussing policy formulation in relation to CCP resolution.
https://www.cftc.gov/PressRoom/PressReleases/8807-23
Finance EU Link
~~~~~~~~~~
Financial market infrastructure giant DTCC has inked a deal to buy Securrency as part of a planned digital assets push.
The deal is meant to quicken the development of a platform designed to “unlock the power of institutional DeFi,” DTCC said in a Thursday statement.
The acquisition is set to close in the next few weeks. At that point, Securrency will become DTCC Digital Assets. Securrency CEO Nadine Chakar, who joined the firm from State Street in January, will lead the new DTCC subsidiary.
https://blockworks.co/news/defi-acquisition-dtcc-securrency
~~~~~~~~~~
JUST IN - Hundreds of stocks halted at the London Stock Exchange following a "system incident."
https://www.disclose.tv/id/y3ifs69hgi/
~~~~~~~~~~
Iraq to charge Customs Duties/Taxes “Exclusively in Iraqi Dinars”
The Kurdistan Regional Government (KRG) has said that customs duties and taxes at border crossings will now be levied exclusively in Iraqi dinars instead of US dollars.
Search 4 Dinar Link
~~~~~~~~~~
WE ARE 1 MONTH AWAY!💥XDC XRP XLM💥YOU DON'T HAVE UNTIL 2025
https://youtu.be/IzIZsA3XFKU?feature=shared
~~~~~~~~~~
As a follow-up to the 2019 FSSR, a remote TA mission supported the RBZ in updating regulations to the Basel III capital framework. The mission reviewed Zimbabwe’s capital framework (laws, guidelines, and templates of prudential returns), identified areas to update capital requirements, discussed these areas with the management of the RBZ, and provided recommendations for drafting amendments in line with the Basel II/III framework approaches assessed as the most suitable to the Zimbabwean financial market characteristics.
IMF Link
~~~~~~~~~~
Congress could grant the temporary House speaker more power. Here’s how.
~~~~~~~~~~
JUST IN: 🇺🇸 FED Chair Jerome Powell says the current fiscal path we're on is unsustainable.
@WatcherGuru
~~~~~~~~~~
JUST IN: JP Morgan expects the SEC to approve multiple Spot Bitcoin ETF's within months.
@WatcherGuru
~~~~~~~~~~
Follow Goldilocks' Roadmap
Follow Goldilocks' Timeline
Goldilocks' Telegram Room
Q & A Telegram Room
Goldilocks on the Seeds of Wisdom Team™ Website
Thank you Dinar Recaps -- www.DinarRecaps.com
Iraq Economic News and Points to Ponder Thursday Evening 10-19-23
Iraq Economic News and Points to Ponder Thursday Evening 10-19-23
Tlm724 Administrator Bondlady’s Corner
A Crisis Of Confidence Or Psychological Factors.. What Are The Reasons For Iraqis Not Depositing Their Money In Banks?
Special files |Baghdad Today – Baghdad We often hear about the loss of a sum of money due to a fire accident inside a house or an armed robbery, as a result of citizens keeping money at home away from bank deposits, and despite the progress made in the financial and banking sector and the emergence of electronic payment cards, the citizen still prefers to deal with " Cash" in the details of his daily life, which raises many questions, the reasons for which economists explain to "Baghdad Today."
Iraq Economic News and Points to Ponder Thursday Evening 10-19-23
Tlm724 Administrator Bondlady’s Corner
A Crisis Of Confidence Or Psychological Factors.. What Are The Reasons For Iraqis Not Depositing Their Money In Banks?
Special files |Baghdad Today – Baghdad We often hear about the loss of a sum of money due to a fire accident inside a house or an armed robbery, as a result of citizens keeping money at home away from bank deposits, and despite the progress made in the financial and banking sector and the emergence of electronic payment cards, the citizen still prefers to deal with " Cash" in the details of his daily life, which raises many questions, the reasons for which economists explain to "Baghdad Today."
Today, Wednesday (October 18, 2023), economic expert Mahdi Douai explained the factors behind why Iraqis do not deposit their money in banks.
4 Main Factors
In an interview with "Baghdad Today", Douai says, "Raising the interest rate is a measure adopted by monetary policy in most countries of the world in order to withdraw the monetary mass for objective reasons that reflect positively on the economic aspect, whether through
financing internal loans or creating specific balances."
He pointed out, "4 factors hinder Iraqis from depositing their money in banks: the
weak banking culture among large segments, as well as the
religious motives that influence the decision of many, not to mention the presence of a
psychological factor that prompts some to keep money at home, and there is a final and important factor, which is the weak confidence of many " With banks.”
Banking system
The economic expert stated that “the banking system in Iraq has begun to take important measures that are economically feasible in the file of dealing with liquidity, including internal loans and providing liquidity to the government,” adding,
“But the matter is not very reliable due to the weak turnout, which requires efforts in order to push people to deposit.” Their money is in the banks.”
Last January, Iraqi Prime Minister Muhammad Shiaa Al-Sudani announced a number of financial and economic reforms in the country, including the activation of the electronic payment system, as a statement issued by his office announced work to activate the “electronic payment” (Point of Sales) system, effective From the first of next June.”
The government has confirmed the start of implementing the system, exempting its electronic equipment from taxes, in an attempt to encourage private companies to adopt this system, as Iraq is one of the lagging countries in implementing it.
Economic affairs specialists confirm that implementing the electronic payment system means the necessity of opening bank accounts for all shopping centers, hospitals, factories, medical clinics, pharmacies, and others.
Withdrawal Of The Yacht Company’s License To Mediate In The Buying And Selling Of Foreign Currencies
October 19, 2023 Based on the decision of the Board of Directors of this bank No. (125) of 2023, taken at its session numbered 1638, held on 7/18/2023, we would like to inform the Ministry of Commerce / Company Registration Department of the following: -
1. It was decided to withdraw the yacht company’s license to mediate in the sale and purchase of foreign currencies, cancel the certificate of incorporation granted to it by you, and provide us with a letter deleting the company’s name from your records, and the minutes and letter of liquidation.
2. Please take into consideration when you carry out liquidation procedures that there are amounts owed by the company for an amount (the letter of guarantee of 10% of its capital / and the wages collected by this bank) that have not been paid to date. https://cbi.iq/news/view/2453
Parliamentary Finance Refuses To Hold “Foreign Banks” Alone Responsible For The Collapse Of The Dinar
Economy |Baghdad Today – Baghdad Today, Thursday (October 19, 2023), member of the Parliamentary Finance Committee, Mudar Al-Karawi, identified the impact of foreign banks in the collapse of the Iraqi dinar in the face of the rise in the dollar exchange rate.
Al-Karawi told “Baghdad Today” that “the opening of the headquarters of international banks, whether Arab or foreign, in Baghdad and the rest of the governorates
is a positive situation and it exists in all countries of the world, and it
comes within the framework of openness, attracting investments and
creating infrastructure in the world of finance to secure companies’ commitment and
receive their entitlements.” And transferring money, whether for investments or building new projects.”
He added, “The rise of the dollar and the decline in the value of the dinar have other dimensions and causes, some of which are internal and others external,” pointing out,
“The Finance Committee recently discussed with the management of the Central Bank its mechanisms for controlling the rhythm of the parallel market and limiting the rise of the dollar, and
there are a series of measures that will be adopted to overcome some of the negatives.” He stressed that “the dollar problem cannot be blamed on foreign banks, but rather applying a transparent road map to prevent its smuggling will have the most impact.”
He pointed out that "the Finance Committee has a comprehensive assessment of the monetary and financial situation in the country and is dealing with the challenges," pointing out that "changing some of the Central Bank's mechanisms with the issue of pumping the dollar will be a priority in the next stage."
The Ministerial Council for the Economy hosted, in its session last Monday, the Governor of the Central Bank, Ali Al-Alaq, who indicated that the dollar exchange rate “depends primarily on imports and
not on local production,” pointing out that “many factors affect the exchange rate, the most important of which is the leakage of the dollar to countries.”
Neighborhood and internal dealing in local markets using other than the national currency, as well as the lack of complete control over ports and smuggling.”
Al-Alaq also announced that “the Central Bank raised the interest rate for amounts deposited in banks to 7.5 percent to encourage citizens to deposit their amounts in banks and withdraw the cash mass from the banks.”
There are many measures that the government has taken in order to control the price of the dollar,
but day after day it proves its failure to control it, which reflects negatively on the lives of citizens today because it is closely linked to their trade and their ability to purchase consumer goods.
The exchange rates of the dollar against the dinar stabilized in Baghdad this evening, Thursday, with the closure of the Al-Kifah and Al-Harithiya stock exchanges, recording 159,800 dinars for every 100 dollars, which are the same prices recorded this morning.
While prices rose slightly in Erbil with the closure, as the selling price reached 160,000 dinars for every 100 dollars, and the purchase price was 159,900 dinars for every 100 dollars.
Baghdad Airport Reveals The Names Of 4 Companies That Sell Dollars To Travelers
Politics 2023/10/19 21:52 Number of readings : 147 Baghdad - Iraq today: Baghdad International Airport announced the opening of 4 outlets selling dollars to travelers. The airport’s media office stated in a press statement,
“With the aim of continuous coordination and cooperation between the Civil Aviation Authority and the Central Bank of Iraq in order to provide the best possible services and facilities for the purpose of the traveler obtaining dollars while traveling at Iraqi airports, the Baghdad International Airport administration has opened 4 outlets to sell dollars to travelers.”. The statement added,
“The administration noted that depositing the amounts takes place outside the airport and receiving them in the transit lounge during departure.”
Below are the names of the banks involved:
1- Sama Baghdad Exchange Company
2- Al-Fanjan Exchange Company
3- Al-Qand Exchange Company
4- Al Rayyan Exchange Company
https://iraqtoday.com/news/76688/مطار-بغداد-يكشف-اسماء-4-شركات-تبيع-الدولار-للمسافرين
Al-Rafidain Launches Reconstruction Bonds For Citizens: With An Interest Rate Of Up To 8%
Economy |Baghdad Today – Baghdad Rafidain Bank announced, this evening, Thursday (October 19, 2023), that it will begin issuing reconstruction bonds to citizens with an interest rate of up to 8 percent.
The bank's media office said in a statement received by "Baghdad Today", that "based on the instructions of the Ministry of Finance and the Central Bank of Iraq, Rafidain Bank announces the commencement of issuing (Emaar) bonds and making them available to citizens, starting from 10/10/2023 until 11/9/2023.".
The statement explained that the bonds are in two categories:
“The first is a bond of 500 thousand dinars, with an annual interest of 6 percent, paid every six months for a period of two years, and the
other category is a bond of one million dinars, with an annual interest of 8 percent, paid every six months for a period of four years.”
The bank confirmed that “the person wishing to purchase bonds must submit a direct request to the bank, bringing with him the original identification documents.
The buyer is also given a receipt by the bank in exchange for the amount he paid to purchase the bond, where he keeps it until the bond is prepared, and the buyer brings the aforementioned receipt to the bank.” The bank will receive the bond after it is prepared.”
He explained, "Bonds are traded in the stock market, buying and selling. In addition, the bond's statute of limitations is 10 years after maturity, and then it is transferred to the Ministry of Finance."
The bank noted, “Purchasing and trading the offered bonds (construction bonds) is exempt from taxes, according to what is stated in Federal Budget Law No. 13 of 2023.”
https://baghdadtoday.news/233625-الرافدين-يطلق-سندات-اعمار-للمواطنين-بفائدة-تصل-لـ8.html
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
Points to Ponder on FEAR:
48. I love you, I thought. But I didn’t say it. It was not that I feared she would laugh in my face. She was far too kind for that. My fear was a greater one – that she won’t say it back. ~ Alex Flinn
49. Your fear is 100% dependent on you for its survival. ~ Steve Maraboli
50. Deep in my heart I’m concealing things that I’m longing to say. Scared to confess what I’m feeling – frightened you’ll slip away. ~ Madonna
51. Only those who have never known fear are allowed to think less of others for being afraid. Frankly, I think anyone who has never been afraid of anything in their entire life is either a liar or lacks imagination. ~ Laurel K. Hamilton