Iraq Economic News and Points to Ponder Sunday Evening 10-22-23

Iraq Economic News and Points to Ponder Sunday Evening 10-22-23

Tlm724 Administrator Bondlady’s Corner

Iraq Recovers More Than 70 Million Dollars From A Bank In Switzerland

Money  and business  Economy News – Baghdad  On Sunday, the head of the Integrity Commission, Haider Hanoun, announced the recovery of more than $70 million from a bank in Switzerland.

Hanoun said at a conference reviewing the achievements of the Iraq Money Recovery Fund, that “70 million, 610,843 dollars were recovered from a bank in Switzerland, which was in the possession of the director of relations in the intelligence service in the previous regime, who died abroad,” indicating that “these amounts entered the state treasury.”

He added, "$26 million was recovered, which was hidden in Al-Rashid Bank. It is from the funds of Al-Huda Religious Tourism Company, which was established in 2000 and was in charge of transporting Iranian visitors and affiliated with the former intelligence service," pointing out that "the people who hid the amount will be held accountable." According to the law.”

He continued, "6 billion dinars were recovered by the United Bank for Private Investment, from which we had previously recovered 15 billion dinars out of the amount of 69 billion dinars due to a corruption operation by the Iraqi Export Support Fund affiliated with the Ministry of Commerce, as those responsible for the fund are currently being held accountable in addition to the director." The bank is called Fadel Al-Dabbas,” pointing out, “We are continuing to recover this entire amount.”

He stated that "5 billion dinars were recovered from the financial advisor to the former prime minister, and 1.5 billion dinars were recovered from the director general of the Central Refineries Company, which is part of the huge amount owed."

He confirmed that "the procedures to retrieve the former Babylon Health Director from the Emirates have been completed," pointing out that "we will conclude memorandums of understanding with Canada, China, and Spain, in addition to other countries."

He stated that "Iraq is making great strides in the field of combating corruption," stressing "the need for cooperation from citizens, the private sector, and investors who are subjected to blackmail."

Views 55 10/22/2023 - https://economy-news.net/content.php?id=37047

Integrity Announces The Recovery Of 5 Billion Dinars From The Advisor To The Former Prime Minister

 Politics  10/22/2023 Number of readings : 309  Baghdad - Iraq Today: The head of the Integrity Commission, Haider Hanoun, announced today, Sunday, the  recovery of more than five billion dinars from a former advisor to Mustafa Al-Kadhimi.

 Hanoun said in a conference reviewing the achievements of the Iraq Money Recovery Fund,  “6 billion dinars were recovered by the United Bank for Private Investment, from which we had previously recovered 15 billion dinars out of the amount of 69 billion dinars due to a corruption operation by the Iraqi Export Support Fund affiliated with the Ministry of Commerce.”

As those responsible for the fund are currently being held accountable, in addition to the bank director, who is called Fadel Al-Dabbas,” pointing out,

 “We are continuing to recover the full amount of this amount.”  He stated that  "5 billion dinars were recovered from the financial advisor to the former prime minister, and one billion and 500 million dinars were recovered from the director general of the Central Refineries Company, which is part of the huge amount owed." 

He confirmed that  "the procedures to retrieve the former Babylon Health Director from the Emirates have been completed," pointing out that "we will conclude memorandums of understanding with Canada, China, and Spain, in addition to other countries."  He stated that  "Iraq is making great strides in the field of combating corruption," stressing "the need for cooperation from citizens, the private sector, and investors who are subjected to blackmail."

  https://iraqtoday.com/news/76761/النزاهة-تعلن-استرداد-5-مليار-دينار-من-مستشار-رئيس-الحكومة-السابق

Health Announces The Inclusion And Recovery Of More Than 330 Million Dinars

 Local    Baghdad – IA  Today, Sunday, the Ministry of Health announced the inclusion and recovery of more than 330 million dinars.

 The Director General of the Ministry’s Inspection Department, Zaid Ali Abbas, stated in a statement received by the Iraqi News Agency (INA), that

“the investigative committees in the Ministry of Health’s Inspection Department were able to include and recover an amount of (330,195,000) dinars through investigation into a number of violations,” indicating that

 “The aforementioned amounts were distributed between including an amount of (318,132,000) dinars due to an exaggeration in the prices of purchasing laboratory materials above the prevailing prices, and recovering amounts estimated at (12,630,000) dinars.”  He added,

 "Our specialized staff in the Complaints and Investigations Department at the center of the department were able to resolve (241) investigative and audit committees that were centrally monitored in the Inspection Department during the past nine months of the current year 2023 for various administrative, engineering, and financial matters,"

stressing that  "all citizens and associates of owners are welcome." Complaints and examining the complaints or reports submitted by them, while  observing confidentiality while dealing with the complaints or reports received.”  He pointed out that "complaints are received through many mechanisms, whether through interviews or e-mail.

 Complaints are also received via phone lines designated for receiving complaints and installed in all health institutions."   https://www.ina.iq/195898--330-.html

Al-Sudani Directs To Activate The Work And Tasks Of The Payments Council At The Central Bank

Political | 04:07 - 10/22/2023   Baghdad - Mawazine News   Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani directed the activation of the work and tasks of the Payments Council at the Central Bank.

Al-Sudani’s office stated in a statement, a copy of which Mawazine News received, that “Prime Minister Muhammad Shia’ al-Sudani chaired a meeting devoted to discussing the completion of the unified treasury account, and following up on the electronic payment system and electronic card payment points/POS, in the presence of the Minister of Finance and the Governor of the Central Bank, The head of the Federal Financial Supervision Bureau, a number of advisors, and general managers of a number of government banks.”

He added, "The meeting witnessed a presentation and follow-up of the implementation of the unified treasury account, the level of progress in implementing and disseminating the electronic card payment system, and a discussion of the challenges facing public and private sector institutions and electronic payment companies."

He pointed out that "the facilities and incentives that can be provided to citizens and employing entities were reviewed, with the aim of encouragement, in addition to the overall measures taken, progress rates, and necessary requirements for completion, as Al-Sudani stressed the need to give priority to the goal of encouraging the government sector, and identifying negligent or lagging entities."

He continued, "During the meeting, the report containing a number of recommendations was approved, and it was decided to present it to the Council of Ministers."

Al-Sudani directed, according to the statement, “activating the work and tasks of the Payments Council at the Central Bank, and the importance of submitting a final report on the achievements to be presented to the Council of Ministers meeting.”

In terms of completing the unified treasury account, the Prime Minister directed, “Emphasizing all ministries to implement the fourth paragraph of Cabinet Resolution (3581 of 2023), and the necessity of accelerating the formation of committees and analyzing the non-active bank accounts for each of them, within one month.” End 29 /h   https://www.mawazin.net/Details.aspx?jimare=236729

Al-Sudani Chairs The First Meeting Of The Board Of Directors Of The Iraq Fund For Development

Economy |  10/22/2023  Mawazine News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani stressed today, Sunday, the necessity of working with the mentality of the private sector.

A statement from his office received by Mawazine News stated, “Al-Sudani chaired, today, Sunday, the first meeting of the Board of Directors of the Iraq Fund for Development, which was voted on in the last session of the Council of Ministers.”

The statement continued, "The topics on the agenda were discussed, which included selecting the executive director of the fund, as well as reviewing the fund's initial work map."

The Prime Minister pointed out that "the fund, whose idea began in 2017, represents a modern interface for Iraq with international standards, stressing the necessity of not diversifying into many projects and focusing and starting projects that will have a tangible impact."

Al-Sudani stressed, “The necessity of working with the mentality of the private sector, especially since there are representatives of it on the Fund’s Board of Directors, who can contribute to proposals for the optimal mechanism for dealing with companies and facilitating their procedures.”

https://www.mawazin.net/Details.aspx?jimare=236737

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Points To Ponder on FEAR:

87. If you are facing a new challenge or being asked to do something that you have never done before don’t be afraid to step out. You have more capability than you think you do but you will never see it unless you place a demand on yourself for more. ~ Joyce Meyer

88. It’s okay to be crazy and scared and brave at the same time! ~ Kelly Epperson

89. But fear is confusing. It tears you in two. Half of you wants to run far, far away, but the other half is paralyzed, frozen, immovable. And the hard part is that you never know which half is going to win. ~ Melody Carlson

90. Whatever it is you’re scared of doing, Do it. ~ Neil Gaiman

91. As Grams treaded water, she tapped my forehead. ‘What’s in here, Poppy, is scarier than anything you’ll encounter in the depths of the ocean. An imagination is a powerful thing. ~ Shelley Coriell

92. What is fear after all? It is indecision. You seek some way to resist, escape. There is none. ~ Anne Rice

93. I am convinced that the deepest desire within each of us is to be liberated from the controlling influences of our own psychic madness or patterns of fear. All other things-the disdain of ordinary life, the need to control others rather than be controlled, the craving for material goods as a means of security and protection against the winds of chaos-are external props that serve as substitutes for the real battle, which is the one waged within the individual soul. ~ Caroline Myss

94. If we let things terrify us, life will not be worth living. ~ Seneca

Goldilocks' Comments and Global Economic News Sunday Evening 10-22-23

Goldilocks' Comments and Global Economic News Sunday Evening 10-22-23

Good evening Dinar Recaps,

Shipping Containers Market Expands as Maritime Trade Flourishes
https://comtex.com/?p=442125676

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Warren Buffett Just Warned Us ALL...

https://www.youtube.com/live/AeNs_1XRIQI?feature=shared

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CFPB accelerates US open banking with new data rule
20 October 2023

The Consumer Financial Protection Bureau (CFPB) has proposed its long-awaited open banking rule in the hopes of improving competition in the US banking and payments sector.

The proposed Personal Financial Data Rights rule activates the dormant Section 1033 of the Dodd-Frank Act, which was enacted by Congress more than a decade ago. This means consumer financial service providers are required to share data at the user’s direction with other companies in the ecosystem that offer more attractive products and services.

https://www.finextra.com/newsarticle/43165/cfpb-accelerates-us-open-banking-with-new-data-rule

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Agencies Extend Comment Period on Proposed Rules to Strengthen Large Bank Capital Requirements | OCC
https://www.occ.gov/news-issuances/news-releases/2023/nr-ia-2023-116.html

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Home Prices Fall Further. Peak was June 2022. Demand Crashes, Price Cuts Jump, Supply & Days on Market Rise

Wolf Street Link

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Ok, here we go.

The ASEAN countries in Asia are beginning to make a change in the way they do trades. They are switching their dollars for local currencies to build up their own Sovereign Nation's Economies.

Local Currency Settlement Framework Agreements are being signed everywhere.

This will increase demand and value for these countries' currencies. The movement away from the dollar in trade is increasing.

Below is a list of articles you can read where various countries are making this change. There are more. I only picked out a few.

© Goldilocks

ModernDiplomacy Link
Atlantic council Link
AsiaNews Link
The Jakarta Post Link
Khmertimeskh Link
India-Briefing Link
Fibre2Fashion Link
Malay Mail Link

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HEARING NOTICE:

Subject: "Subcommittees on Digital Assets, Financial Technology & Inclusion and National Security, Illicit Finance & International Financial Institutions"

Time: 10:00 AM ET
Date: Wednesday, October 25, 2023
Place: 2128 Rayburn House Office Building 

This hearing is a time to ask questions and give evidence of the subject matter on the table for the day.

People are being asked to sign an affidavit to swear that their statements are true.

It is a time to gather evidence and present your case to move forward with the subject at hand.

As you can see, digital assets are on the table. This will be a time to decide how, when, and if it is possible to move forward.

© Goldilocks

Financial Services Link 1

Financial Services Link 2
Financial Services Link 3
UK Gov Link

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Bond term premiums are now a focus for the Fed. What are they?

Reuters Link

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The Office of the U.S. Trade Representative and the Department of Agriculture have established a new committee to provide advice and recommendations in connection with U.S. trade policy that concerns administrative actions and legislation that would promote the competitiveness of southeastern U.S. producers of seasonal and perishable agricultural products.
STR Trade Link

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Standard Chartered to launch Bitcoin and crypto custody service for institutional clients in Dubai

Tekedia Link

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🔥HEDERA IS NOW A POWERHOUSE🔥HBAR HOLDERS GET READY FOR THIS

https://youtu.be/eXYapx2E5GQ?feature=shared

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#JimWillie : Inside The #Israel Conflict, Update on #DeDollarization

https://youtube.com/shorts/c8dx9hblbD4?feature=shared

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China said today that the country wants to deepen oil and gas cooperation with Gulf countries.

Late last year,

China's President urged Gulf nations to utilize the Shanghai Petroleum and National Gas Exchange for yuan settlement in the oil and gas industry.

Watch this closely.

Read: https://x.com/goldtelegraph_/status/1716145917185953815?s=46

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

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Goldilocks on the Seeds of Wisdom Team™ Website

Thank you Dinar Recaps   -  www.DinarRecaps.com

Some "Sunday News" Posted by Clare at KTFA 10-22-2023

KTFA:

Clare:   Washington directs the families of its diplomats and non-essential employees to leave Iraq and not to use Baghdad Airport

10/22/2023

The US State Department directed, on Sunday, the departure of the families of its diplomats and non-essential employees from Iraq, warning of “kidnappings.”

In a statement, the US State Department called on its citizens "not to travel to Iraq due to terrorism, kidnapping, armed conflict, civil unrest, and the limited ability of the Iraqi mission to provide support to American citizens."

The American forces at the Harir and Ain al-Asad bases in Erbil and Anbar were subjected to more than one attack by drones, according to what the armed factions announced.

The department directed the departure of "eligible family members and non-essential U.S. government employees from the U.S. Embassy in Baghdad and the U.S. Consulate General in Erbil due to increased security threats against U.S. government employees and interests."

She explained, “American citizens in Iraq face significant risks to their safety and security, including the possibility of violence and kidnapping,” noting that “terrorist and insurgent groups regularly attack Iraqi security forces and civilians. Anti-American militias also threaten American citizens and international companies throughout Iraq.” ".

She pointed out that “attacks are occurring using improvised explosive devices, indirect fire, and unmanned aerial vehicles in many areas of the country, including Baghdad and other major cities. In emergency situations, consular services for American citizens in Iraq are limited due to strict restrictions on the movements of US personnel.” American government.

The statement added, "Demonstrations, protests, and strikes occur frequently across the country. These events can develop quickly without prior notice, often leading to disruption of traffic, transportation, and other services, and sometimes turning into violence."

The US State Department continued, “Do not travel near the northern border of Iraq due to the continuing threat of attacks by terrorist groups, armed conflict, aerial bombardment, and civil unrest. US citizens should especially avoid areas near armed groups in northern Iraq, which have been targeted.” "With air strikes by the armies of neighboring countries."

She explained, “United States citizens should not travel through Iraq to participate in an armed conflict in Syria, as they would face severe personal risks (kidnapping, injury, or death) and legal risks (arrest, fines, expulsion). The Kurdistan Regional Government of Iraq announced that it will impose prison sentences of up to ten years.” "On individuals who illegally cross the Iraqi-Syrian border. Additionally, fighting on behalf of or supporting designated terrorist organizations is a crime under United States law that can result in prison sentences and large fines in the United States."

She concluded by saying, “Due to security concerns, US government employees in Baghdad have been instructed not to use Baghdad International Airport.

Due to the risks to civil aviation operating in the Baghdad FIR, the Federal Aviation Administration (FAA) has extended the Special Federal Aviation Regulation (SFAR).” for an additional two years which prohibits certain flights at altitudes below 32,000 feet. For more information, U.S. citizens should consult the FAA's Prohibitions, Restrictions, and Notices."   LINK

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Clare:  Iraqi Integrity announces the recovery of more than $70 million from a Swiss bank

10/22/2023

The head of the Federal Integrity Commission announced, on Saturday, the recovery of more than 70 million dollars from a bank in Switzerland, while it confirmed the recovery of billions of Iraqi dinars from convicts including the advisor to the former Prime Minister, Mustafa Al-Kadhimi, local officials, and a director in the intelligence service of the former regime. 

Haider Hanoun said in a press conference held today, at the Commission’s headquarters in Baghdad, and attended by a Shafaq News Agency correspondent, that the Integrity Commission has achieved achievements, laid foundations for combating corruption, and erased many of the voids that were exploited by corrupt people.

This is not an independent effort of the Commission, but rather in cooperation with the executive authority. Especially the government headed by Prime Minister Muhammad Shiaa Al-Sudani, who set a new variable in Iraq by ensuring that the government, in its form and content, sponsors the issue of combating corruption, and it is sincere in doing so.   LINK

Clare:  Al-Sudani chairs a meeting regarding the unified treasury account and the electronic payment system

10/22/2023

Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting devoted to discussing the completion of the unified treasury account, and following up on the electronic payment system and electronic card payment points/POS, in the presence of the Minister of Finance, the Governor of the Central Bank, the Head of the Federal Financial Supervision Bureau, and a number of advisors. And the general managers of a number of government banks, according to a statement from Al-Sudani’s office received by Shafaq News Agency.

The statement added: “The meeting witnessed a presentation and follow-up of the implementation of the unified treasury account, the level of progress in implementing and disseminating the electronic card payment system, and a discussion of the challenges facing public and private sector institutions and electronic payment companies.”

The facilities and incentives that can be provided to citizens and employing entities were also reviewed, with the aim of encouragement, along with the overall measures taken, progress rates, and necessary requirements for completion, as His Excellency stressed the necessity of giving priority to the goal of encouraging the government sector, and identifying negligent or lagging entities.

He pointed out that "during the meeting, the report containing a set of recommendations was approved, and it was decided to present it to the Council of Ministers."

Al-Sudani directed to activate the work and tasks of the Payments Council at the Central Bank, and the importance of submitting a final report on the achievements to be presented to the Council of Ministers meeting.

In terms of completing the unified treasury account, the Prime Minister directed all ministries to implement the fourth paragraph of Cabinet Resolution (3581 of 2023), and the necessity of accelerating the formation of committees and analyzing the non-active bank accounts for each of them, within one month, according to the statement.   LINK

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Clare:  The Border Crossings Announce The Completion Of Connecting All Their Ports To The Optical Cable Network

10/22/2023

The Border Ports Authority announced today, Sunday, the completion of connecting all its ports to the optical cable network.

A statement from the Authority received by Earth News Agency stated, “The network connection team, headed by the Deputy Chairman of the Ports Authority and under the supervision of the Prime Minister’s Advisor for Ports Affairs, was able to complete the connection of the Kirkuk International Airport port to the optical cable network, which is the last port to be connected to the network.” 

He added, “Connecting the border ports to the optical cable network will provide better performance and more technical advantages in terms of speed in transferring data over a very long distance via optical waves in a secure, impenetrable manner, in addition to the relatively low cost compared to traditional wired cables.” 

He continued, “Connecting the ports to the optical cable network will play a major role in transmitting data electronically, ensuring speedy procedures to prevent tampering and smuggling operations by analyzing sonar images of the goods and monitoring them from the Authority’s headquarters through a specialized operations center equipped with the latest screens and computers and managed by specialized employees with expertise.”

“The news is in analyzing differences in the density of goods and comparing them with those mentioned in customs transactions, as well as monitoring the performance of workers at border crossings with regard to examining goods with M60 sonar wheels.” LINK

Iraq Economic News and Points to Ponder Sunday Afternoon 10-22-23

Iraq Economic News and Points to Ponder Sunday Afternoon 10-22-23

Tlm724 Administrator Bondlady’s Corner

SECURITY ALERT EMBASSY IRAQ – OCT-22-2023

By U.S. Embassy In Baghdad  October 22, 2023  The Department of State has updated the Travel Advisory for Iraq to reflect the ordered departure of non-emergency U.S. government personnel and eligible family members from U.S. Embassy Baghdad and U.S. Consulate General Erbil. Full text of Travel Advisory here .  Additionally, please read the most recent Security Alert from October 18, 2023 below:

Demonstration Alert: U.S. Embassy Baghdad, Iraq (October 20, 2023)

Location: Baghdad, Iraq   Event:  U.S. Mission Iraq is monitoring calls for demonstrations throughout the country, including a large demonstration with potential for anti-U.S. sentiment in Baghdad on Friday, October 20 around the 14th of July Bridge.

The U.S. Mission continues to advise U.S. citizens to monitor local media for updates and to avoid protests and large gatherings. U.S. citizens should be aware of the potential for demonstrations and protests related to the ongoing events in Gaza to spread rapidly throughout Iraq. Such demonstrations can develop quickly without prior notice, often interrupting traffic, transportation, and other services, and sometimes turning violent.

The State Department’s Travel Advisory for Iraq remains at Level 4: Do Not Travel due to terrorism, kidnapping, armed conflict, civil unrest, and Mission Iraq’s limited capacity to provide support to U.S. citizens. For more information, please visit the Iraq Country Information page on travel.state.gov . Please also review what the U.S. government can and cannot do to assist you in a crisis overseas .

Actions to Take:

– Avoid the area of the demonstrations and large gatherings.

– Exercise caution if unexpectedly in the vicinity of large gatherings or protests.

– Keep a low profile.

– Monitor local media for updates.

https://iq.usembassy.gov/security-alert-embassy-iraq-oct-22-2023/

 Iraq Travel Advisory  October 22, 2023 Iraq - Level 4: Do Not Travel   Updated to reflect the ordered departure of non-emergency U.S. government personnel and eligible family members.

Do not travel to Iraq due to terrorism, kidnapping, armed conflict, civil unrest, and Mission Iraq’s limited capacity to provide support to U.S. citizens.

On October 20, 2023, the Department ordered the departure of eligible family members and non-emergency U.S. government personnel from U.S. Embassy Baghdad and U.S. Consulate General Erbil due to increased security threats against U.S. government personnel and interests.

Country Summary: U.S. citizens in Iraq face high risks to their safety and security, including the potential for violence and kidnapping. Terrorist and insurgent groups regularly attack Iraqi security forces and civilians. Anti-U.S. militias threaten U.S. citizens and international companies throughout Iraq. Attacks using improvised explosive devices, indirect fire, and unmanned aerial vehicles occur in many areas of the country, including Baghdad and other major cities. In an emergency, consular services to U.S. citizens in Iraq are limited due to severe restrictions on the movements of U.S. government personnel.

Demonstrations, protests, and strikes occur frequently throughout the country. These events can develop quickly without prior notice, often interrupting traffic, transportation, and other services, and sometimes turning violent.

Do not travel near Iraq’s northern borders due to the continued threat of attacks by terrorist groups, armed conflict, aerial bombardment, and civil unrest. U.S. citizens should especially avoid areas near armed groups in northern Iraq, which have been targeted with aerial strikes by neighboring countries’ militaries.

U.S. citizens should not travel through Iraq to engage in armed conflict in Syria, where they would face extreme personal risks (kidnapping, injury, or death) and legal risks (arrest, fines, and expulsion). The Kurdistan Regional Government in Iraq has stated that it will impose prison sentences of up to ten years on individuals who illegally cross the Iraq-Syria border. Additionally, fighting on behalf of or supporting designated terrorist organizations is a crime under U.S. law that can result in prison sentences and large fines in the United States.

Because of security concerns, U.S. government personnel in Baghdad are instructed not to use Baghdad International Airport. Due to risks to civil aviation operating in the Baghdad Flight Information Region, the Federal Aviation Administration (FAA) has extended for an additional two years its Special Federal Aviation Regulation (SFAR) prohibiting certain flights at altitudes below 32,000 feet. For more information, U.S. citizens should consult the Federal Aviation Administration’s Prohibitions, Restrictions, and Notices.

Read the country information page for additional information on travel to Iraq.

If You Decide To Travel To Iraq:

Establish your own personal security plan in coordination with your employer or host organization or consider consulting with a professional security organization.

Draft a will and designate appropriate insurance beneficiaries and/or power of attorney.

Discuss a plan with loved ones regarding care/custody of children, pets, property, belongings, non-liquid assets (collections, artwork, etc.), funeral wishes, etc.

Share important documents, login information, and points of contact with loved ones so that they can manage your affairs if you are unable to return as planned to the United States.

Visit our website for Travel to High-Risk Areas.

Enroll in the Smart Traveler Enrollment Program (STEP) to receive alerts and make it easier to locate you in an emergency.

Follow the Department of State on Facebook and Twitter.

Review the Country Security Report for Iraq.

Visit the CDC website for the latest Travel Health Information related to your travel.

Prepare a contingency plan for emergency situations. Review the Traveler’s Checklist

https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/iraq-travel-advisory.html

Washington Directs Non-Essential Personnel To Leave Its Embassy In Baghdad

 10/22/2023   Mawazine News – Baghdad   The US State Department directed, on Sunday, the departure of the families of its diplomats and non-essential employees from Iraq, warning of “kidnappings.”

In a statement, the US State Department called on its citizens "not to travel to Iraq due to terrorism, kidnapping, armed conflict, civil unrest, and the limited ability of the Iraqi mission to provide support to American citizens."

The Department directed the departure of "eligible family members and non-essential U.S. Government employees from the U.S. Embassy in Baghdad and the U.S. Consulate General in Erbil due to increased security threats against U.S. Government employees and interests."

She explained, “American citizens in Iraq face significant risks to their safety and security, including the possibility of violence and kidnapping,” noting that “terrorist and insurgent groups regularly attack Iraqi security forces and civilians. Anti-American militias also threaten American citizens and international companies throughout Iraq.”   https://www.mawazin.net/Details.aspx?jimare=236742

Decrease In Dollar Prices In Baghdad Markets

Time: 10/22/2023 10:21:45 Read: 3,133 times  {Economic: Al-Furat News} The price of the dollar fell, today, Sunday, in Baghdad markets   The prices were as follows..

The selling price was 160,500 Iraqi dinars, while the purchase amounted to 158,500 dinars per 100 dollars.   LINK

Details Of A Meeting Chaired By Al-Sudani Regarding The Unified Treasury Account And The Electronic Payment System

Money  and business  Economy News – Baghdad Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani directed the activation of the work and tasks of the Payments Council at the Central Bank.

Al-Sudani’s office said in a statement, “Prime Minister Muhammad Shia’ al-Sudani chaired a meeting devoted to discussing the completion of the unified treasury account, and following up on the electronic payment system and electronic card payment points/POS, in the presence of the Minister of Finance, the Governor of the Central Bank, the Head of the Federal Financial Supervision Bureau, and a number Among the advisors and general managers of a number of government banks.

He added, "The meeting witnessed a presentation and follow-up of the implementation of the unified treasury account, the level of progress in implementing and disseminating the electronic card payment system, and a discussion of the challenges facing public and private sector institutions and electronic payment companies."

He pointed out that "the facilities and incentives that can be provided to citizens and employing entities were reviewed, with the aim of encouragement, in addition to the overall measures taken, progress rates, and necessary requirements for completion, as Al-Sudani stressed the need to give priority to the goal of encouraging the government sector, and identifying negligent or lagging entities."

He continued, "During the meeting, the report containing a number of recommendations was approved, and it was decided to present it to the Council of Ministers."

Al-Sudani directed, according to the statement, “activating the work and tasks of the Payments Council at the Central Bank, and the importance of submitting a final report on the achievements to be presented to the Council of Ministers meeting.”

Regarding the completion of the unified treasury account, the Prime Minister directed, “Emphasizing all ministries to implement the fourth paragraph of Council of Ministers Resolution (3581 of 2023), and the necessity of accelerating the formation of committees and analyzing the non-active bank accounts of each of them, within one month.”  Views 68 10/22/2023 - https://economy-news.net/content.php?id=37048

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Points to Ponder on FEAR:

74. The fear of an unknown never resolves, because the unknown expands infinitely outward, leaving you to cling pitifully to any small shelter of the known: a cracker has twelve calories; the skin, when cut, bleeds. ~ Caroline Kettlewell

75. We fear what we most desire. ~ Harley King

76. You shouldn’t feel so bad about being afraid of so many things.” “Why not?” “Because if you weren’t afraid never ever, then you couldn’t be brave never ever.” ~ C. JoyBell C.

77. If you have no faith in yourself, then have faith in the things you call truth. You know what must be done. You may not have courage or trust or understanding or the will to do it, but you know what must be done. You can’t turn back. There is no answer behind you. You fear what you cannot name. So look at it and find a name for it. Turn your face forward and learn. Do what must be done. ~ Patricia A. McKillip

78. When you do what you fear most, then you can do anything. ~ Stephen Richards

79. The greatest achievement was at first and for a time a dream.The oak sleeps in the acorn; the bird waits in the egg;and in the highest vision of the soul a waking angel stirs.Dreams are the seedlings of realities. ~ James Allen

80. Fear defeats more people than any other one thing in the world. ~ Ralph Waldo Emerson

81. But fear doesn’t need doors and windows. It works from the inside. ~ Andrew Clements

Goldilocks' Comments and Global Economic News Sunday AM 10-22-23

Goldilocks' Comments and Global Economic News Sunday AM 10-22-23

Good morning Dinar Recaps,

JPMorgan and Mastercard Pay-By-Bank Tool Goes Live

Pymnts Link

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Etsy Teams With Payoneer to Offer More Local Currencies

Pymnts Link

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Saudi Arabia, Vietnam sign agreement to bolster economic ties

Pakistan Observer

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RIPPLE CEO EXPECTS $10 TRILLION TO XRPL & E-EURO GOES LIVE IN NOVEMBER

https://www.youtube.com/watch?v=59sc1PwQRYk

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ISO 20022.... LET'S DO IT on X
💥🚨🚨🚨BANKS AND FINANCIAL INSTITUTIONS WORLDWIDE ARE MAKING PREPARATIONS FOR NOVEMBER 2023🚨🚨🚨💥

Twitter Link

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REVEALING GOLD'S POWER AS A RESERVE CURRENCY

One of the significant developments this week was the revelation that Malaysia is actively exploring the gold dinar as a potential new reserve currency.  

The Prime Minister of Malaysia said:  

“If we can get between five and six percent with Islamic countries [using dinar], it would be a positive start as it provides strength and reduces dependency on the U.S. dollar…”  

I have covered this topic before, focusing on Islamic countries and gold.

In April, we learned that China is willing to discuss the establishment of an Asian Monetary Fund with Malaysia to reduce its dependence on the dollar.  

More on this in the article tomorrow.

Read: https://x.com/goldtelegraph_/status/1715842887169269942?s=46

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"Tidbits From TNT" Sunday 10-22-2023

TNT:

CandyKisses:  International and international pressure to pass the oil and gas law

{Politics: Euphrates News} KDP leader, Wafaa Mohammed Karim, revealed international and international pressure to pass the oil and gas law.

“The issue of passing the oil and gas law cannot be overcome if there is no political agreement on the draft law,” Karim told {forat News}.

"At the moment there are political parties that are not served by the passage of the law, but there is international and international pressure on the government to pass the law," he added.

Karim explained, the reason for this to "Iraq's position as the second oil-producing country in OPEC by exporting 4 million and 250 thousand barrels and does not yet have an oil export law."

It is noteworthy that since the first session of the House of Representatives, in 2005, the oil and gas bill has remained locked in drawers, as disagreements prevent its final approval.

After 18 years, he announced, in late August, the formation of a committee to draft an “oil and gas law and present it to the government and the House of Representatives.”

The committee formed between Baghdad and Kurdistan to draft an oil and gas law includes "the Minister of Oil, the Minister of Natural Resources in the region, the Director General of Sumo Company and the advanced staff in the Ministry of Oil, as well as the oil-producing provinces such as Basra, Dhi Qar, Misan and Kirkuk."

The Prime Minister, Mohammed Shia Al-Sudani, said at the beginning of last August that "the draft oil and gas law is one of the basic and important laws, represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time that the country today is in dire need of its legislation and benefit from this natural wealth, in all fields and sectors, as well as the contribution of the legislation of the law to solving many outstanding problems."

The Prime Minister's financial adviser, Mazer Mohammed Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national road map for investment and production for the country's main sovereign resource, which is oil and gas.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold accounts for more than 90 percent of Iraq's treasury resources.

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CandyKisses:  Teaching staff demonstrate in 12 cities in the region and confirm the continuation of the general strike

Baghdad today - Erbil 

 Hundreds of teaching staff demonstrated today, Sunday (October 22, 2023), in 12 cities in the Kurdistan region, while affirming the continuation of the general strike. 

The "Baghdad Today" correspondent said, "Today, teachers launched a demonstration in 12 cities in the Kurdistan region to demand the payment of their dues, and to protest the delay in salaries." 

He added that they "confirmed the continuation of the general strike until their legitimate demands are met."

He pointed out that "the teaching staff in Sulaymaniyah Governorate also launched a demonstration today to demand the payment of arrears of salaries, like the rest of their peers." 

On October 19, 2023, an official source revealed that 12 cities in the Kurdistan region will witness protest demonstrations for educational and teaching staff due to delayed salaries.

The source told "Baghdad Today" that "the unified mass demonstrations will start at 10 am on October 22, 2023 in front of the directorates of education in those cities."

"The cities that will witness demonstrations are (Sulaymaniyah, Halabja, Garmian administration, Koya district, Ranieh district, Sharzor, Sayed Sadiq district, Kafri, Chamchamal district, Qal'at Dizi, Penguin district, Darbandikhan district)," he said.

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Tishwash:  Where do the billions of transfers from the central bank go?

The Central Bank of Iraq's total sales of hard currency in US dollars during the past week amounted to more than $985 million.

During the past week and for the five-day period during which the auction was opened, the Central Bank sold 985 million 596 thousand and 5 dollars, at a daily rate of 184 million 462 thousand and 106 dollars, higher than what it recorded last week, which amounted to 801, 133 thousand and 899 dollars.

The highest dollar sales were on Tuesday, when sales amounted to 199 million, 829 thousand and 639 dollars, while the lowest sales were on Sunday, when sales amounted to 193 million, 925 thousand and 190 dollars.

Foreign remittance sales during the past week amounted to 776 million, 984 thousand and 105 dollars, an increase of 64% compared to cash sales, which amounted to 280 million, 613 thousand and 900 dollars.

The sales were in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,310 dinars per dollar. link

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Tishwash:  The Central Bank takes 5 measures to contain the rise in the dollar

Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Sunday that the Central Bank of Iraq has begun adopting 5 mechanisms to contain the rise in the parallel market.

Al-Karawi said in an interview with Al-Maalouma, “The difference between the dollar exchange rate determined by the Central Bank and the parallel market reaches 20%, which is a high percentage that reflects a serious state of concern because it is unstable.”

He added, "The possibility of the dollar rising is great with the demand for the parallel market in order to finance deals and travel trips for thousands of citizens," noting that "the last meeting with the management of the Central Bank revealed negative indicators and cases in some aspects in terms of securing liquidity for the dollar in order to meet all requests." Purchase,” pointing out that “the bank has begun to adopt 5 mechanisms to contain the rise in the parallel market, the most prominent of which is reducing dollarization in transactions according to specific contexts.”

He pointed out that "reducing the dollar exchange rate is very important, especially since any rise leads to great pressure on the markets and pushes prices higher, with speculators exploiting any opportunity to profit."

The dollar exchange market in Iraq is witnessing an unstable situation in light of its breaking the barrier of 160 thousand dinars per $100   link

Mot: . But It was Bugging Me!!!!

Mot: .. Yeppers! - Stick with ole ""Mot"" fer More Marital Tips!!

Iraq Economic News Highlights and Points to Ponder Sunday AM 10-22-23

Iraq Economic News Highlights and Points to Ponder Sunday AM 10-22-23

A Representative Calls For Stopping The Dollar's Dominance In Iraq

Politics   10/22/2023 Number of readings: 168   Baghdad - Iraq Today:  Representative Hussein Habib identified the most important ways to end the dominance of the dollar in Iraqi markets.

Habib said in a press interview, “There are several steps to end the dominance of the dollar in Iraqi markets, the most prominent of which is reviving the national industry in all its dimensions in order to fill the large void in the import balance, especially Since the largest percentage of the markets’ needs depend on abroad even for the simplest matters, including crops.” "agricultural".

He added, “Restoring industry and agriculture according to a vision that includes three dimensions: sufficiency and developing production to achieve leaps in the balance of exports and imports will reduce dependence on the dollar at high rates, and thus ensure an end to its dominance. However, the matter requires comprehensive dimensions, the most prominent of which is providing means of support for the advancement of industry and agriculture.” Reducing financial burdens from taxes and offering their exemption contributions to attracting capital and internal and external investments.”

He pointed out that "reviving the industry does not stop reducing the dominance of the dollar, but rather providing great job opportunities, especially since the economic conditions have created armies of the unemployed in most Iraqi governorates." LINK

To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars

2023-10-22 | 969 views  Al-Sumaria News – Local   The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling reached 17,900 pledges from last May until this October.

This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi , noting that the campaigns launched under the direction of the ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers, according to the official Al-Sabah newspaper.

He explained that the Ministry has taken written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesale and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling, and to deal exclusively in the Iraqi dinar according to the price specified by the Central Bank,

otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar. He added that the Central Bank and the Council of Ministers  have authorized merchants importing basic and necessary materials from outside the country to enter the platform. Electronic and deal in dollars through it only.   LINK

Interior Ministry: About 18,000 Signed A Written Pledge Not To Deal In Dollars

The first  10/22/2023    Baghdad: Jinan Al-Asadi    The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling reached 17,900 pledges from last May until this October.

This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi, to Al-Sabah, noting that the campaigns launched under the direction of the ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers.

He explained that the Ministry took written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesalers, and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling, and to deal exclusively in Iraqi dinars according to the price specified by the Central Bank /

otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar, indicating at the same time that the Central Bank and the Council of Ministers have permitted merchants importing basic and necessary materials from outside the country to enter. To the electronic platform and deal in dollars through it only.   https://alsabaah.iq/85906-.html

International Forecasts Regarding Foreign Exchange In 2024.. Iraq Ranks Fourth With 85 Billion Dollars

Economy  2023-10-22 | 918 views  Alsumaria News – Economy  Saudi Arabia is expected to top the list of Arab countries in terms of the size of its foreign exchange reserves in 2024, reaching $425 billion, according to the International Monetary Fund.

The Fund's forecasts showed that the UAE would come in second place with foreign reserves that may reach 176 billion dollars, while the Fund expected that Iraq's foreign exchange reserves would reach more than 85 billion dollars next year.

Yemen also came in last place, with $1 billion, according to the International Monetary Fund .

Expectations for Arab countries are below:

https://www.alsumaria.tv/uploadImages/ExtImages/Images1/11687661021697455512-638335602201604991.png

LINK

Economic Recession... Fears Threatening Trade Activity In Iraq

Time: 10/21/2023 19:31:07   Read: 858 times   {Economic: Al-Furat News} The Director of the Financial Supervision Bureau, financial expert, Salah Nouri, confirmed that Iraq is going through a stage similar to an economic recession due to the fluctuation of the dollar exchange rates.

A useful summary of important news can be found on the Al-Furat News channel on Telegram. To subscribe, click here

Nouri said {to Al-Furat News} that: “The economic situation in Iraq is the export of crude oil and the import of goods and merchandise, and the disruption of agricultural and industrial production.”

He added, "Trade activity and the situation are almost at a standstill in Iraq as a result of the fluctuation of the exchange rate of the dollar against the Iraqi dinar, meaning more like an economic recession, in addition to the impact of international events."

Iraq is witnessing high inflation rates, but the Ministry of Planning considered it “logical” as the annual rise touched the 4 percent barrier compared to the year preceding the last inflation indicators that were read, which was last July. According to the Ministry of Planning

Nouri pointed out, “The impact of the decline in crude oil prices on the implementation of the operating budget, especially employee compensation and pensions, as well as the implementation of projects that are already difficult to implement during the remainder of the year 2023.”

The prices of the dollar recorded, this evening, Saturday, with the closure of the Al-Kifah and Al-Harithiya stock exchanges, 159,750 dinars against 100 dollars, while the prices this morning were 160,100 dinars against 100 dollars.

Until the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 160,750 Iraqi dinars for 100 dollars, while the purchasing price reached 158,750 dinars for 100 dollars.   From: Raghad Dahham    LINK 

Points to Ponder From The Seat of the Soul By Gary Zukav:

Every action, thought, and feeling is motivated by an intention -- and that intention is a cause that exists as one with an effect -- If  we participate in the cause - it is not possible for us not to participate in the effect -- In this most profound way - we are held responsible for our every action , thought, and feeling, which is to say, for our every intention

From the perception of the five sensory human, intentions have no effects, the effects of actions are physical, and not all actions affect us or others -- From the perception of the multi sensory human -- the intention behind an action determines its effects, every intention affects both us and others -- and the  effects of intentions extend far beyond the physical  world

Feel your intentions in your heart -- Feel not what your mind tells you, but what your heart tells you

What is behind our eyes holds more power that what is in front of them

The decisions that you make and the actions that you take upon the Earth are the means by which you evolve

An angry personality will respond to the difficulties of it life with anger, and thereby bring into being the necessity of experiencing the results of anger --

Iraq Economic News and Points to Ponder Saturday Evening 10-20-23

Iraq Economic News and Points to Ponder Saturday Evening 10-20-23

Tlm724 Administrator Bondlady’s Corner

The Governor Of The Central Bank Sets Criteria To Achieve Exchange Rate Stability

Political | 02:51 - 10/21/2023   Baghdad - Mawazine News  The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, the progress of several measures to move to the digital economy in direct coordination with Prime Minister Muhammad Shiaa Al-Sudani, while pointing to standards that maintain the stability of the exchange rate.

Al-Alaq said, in his speech during the first banking conference of the Central Bank of Iraq, that “the conference is being held within the framework of continuing efforts to strengthen the banking sector to achieve a stable, safe and effective financial system in light of the rapid changes, developments and challenges that the world is witnessing in the transformations of the structure, financial systems and work rules and the accompanying changes.” Significant progress in the use of financial technologies.”

He added, "Following developments to arrange priorities in the infrastructure of financial systems and business rules is the strategic goal to employ this experience in the right and safe directions and to study the risks associated with it."

He continued, "This is done through: consolidating the compliance rules stipulated in the Anti-Money Laundering and Combating the Financing of Terrorism Law No. 39 of 2015, and applying international practices and standards 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 safety of financial operations, as well as the transition... From cash economy to digital economy.

He pointed out that "these rules are what preserve the integrity of the financial system, and even protect Iraq from serious risks," noting that there is "a close relationship between the application of these standards and the smooth flow of transfer operations and maintaining the stability of the exchange rate."

He noted that "the phenomenon of the monetary economy constitutes a major obstacle to the optimal employment of cash and the development and stimulation of the economy, and a major challenge to achieving the objectives of monetary policy in achieving monetary stability. It also weakens control and oversight of the movement of funds and increases the risks of financial crimes and illicit practices."

He stressed that "many measures are being worked on regarding the transition to the digital economy, in direct and continuous coordination between the government represented by Prime Minister Muhammad Shiaa Al-Sudani personally, the Central Bank, and the relevant authorities."

This Saturday morning, the first banking conference of the Central Bank of Iraq began in Erbil Governorate.    https://www.mawazin.net/Details.aspx?jimare=236681

At 161 Thousand Dinars.. An Increase In The Dollar Exchange Rate In Local Markets

Economy | 10:47 - 10/21/2023   Baghdad - Mawazine News  The exchange rate of the dollar rose against the Iraqi dinar in local markets.  The selling price was 161 thousand dinars, compared to 100 dollars.  The purchase price was 159 thousand dinars compared to 100 dollars. 

https://www.mawazin.net/Details.aspx?jimare=236664

Baghdad Deposits 250 Billion Dinars Into The Erbil Government Account

Political |  10/21/2023   Baghdad - Mawazine News  A local source reported today, Saturday, that Rafidain Bank will deposit an amount of 250 billion dinars into the account of the Kurdistan Regional Government.

The source told Mawazine News, “Tomorrow, Sunday, Rafidain Bank is scheduled to deposit an amount of 250 billion dinars into the regional government’s account, after which the Ministry of Finance will determine the schedule for disbursing employee salaries in Kurdistan, provided that the process of distributing salaries will continue for two weeks.” Ended 29/ M99

https://www.mawazin.net/Details.aspx?jimare=23668

Al-Alaq: Many Measures Are Being Worked On Regarding The Transition To The Digital Economy

Money  and business  Economy News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, the progress of several measures to move to the digital economy in direct coordination with Prime Minister Muhammad Shiaa Al-Sudani, while pointing to standards that maintain the stability of the exchange rate.

Al-Alaq said in his speech during the “Iraqi Banking Conference in the Kurdistan Region,” that “the conference is being held within the framework of continuing efforts to strengthen the banking sector to reach a stable, safe, and effective financial system in light of the rapid changes, developments, and challenges that the world is witnessing in the transformations of the structure, financial systems, business rules, and what accompanies them.” "There is a significant advance in the use of financial technologies."

He added, "Following developments to arrange priorities in the infrastructure of financial systems and business rules is the strategic goal to employ this experience in the right and safe directions and to study the risks associated with it."

He continued, "This is done through: consolidating the compliance rules stipulated in the Anti-Money Laundering and Combating the Financing of Terrorism Law No. 39 of 2015, and applying international practices and standards 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 safety of financial operations, as well as the transition... From cash economy to digital economy.

He pointed out that "these rules are what preserve the integrity of the financial system, and even protect Iraq from serious risks," noting that there is "a close relationship between the application of these standards and the smooth flow of transfer operations and maintaining the stability of the exchange rate."

He noted that "the phenomenon of the monetary economy constitutes a major obstacle to the optimal employment of cash and the development and stimulation of the economy, and a major challenge to achieving the objectives of monetary policy in achieving monetary stability. It also weakens control and oversight of the movement of funds and increases the risks of financial crimes and illicit practices."

He stressed that "many measures are being worked on regarding the transition to the digital economy, in direct and continuous coordination between the government represented by Prime Minister Muhammad Shiaa Al-Sudani personally, the Central Bank, and the relevant authorities."

Views 41 10/21/2023  https://economy-news.net/content.php?id=37044

From Erbil.. Al-Handal Announces The Opening Of The “Iraqi Banking Conference In The Kurdistan Region”

Money   and business  Economy News – Baghdad  The head of the Iraqi Private Banks Association, Wadih Al-Handal, announced today, Saturday, the launch of the “Iraqi Banking Conference in the Kurdistan Region.”

Al-Handal said in his speech: “I am pleased to welcome you with the warmest 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 of private banks, the authorized directors and the executive management of the Iraqi Private Banks Association (the Iraqi Banking Conference in the Kurdistan Region) under its generous patronage.” From the Prime Minister of the Regional Government, Masrour Barzani, and announced the opening of the conference for its work on 10/21/2023.

He added: “Today, through the sessions of this conference, we will focus on important topics, 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, and the great opportunities available in this field and innovative solutions that will Activating the private sector, and we will also address the obstacles that hinder this goal, including providing the necessary financing for investment projects and the consequent provision of job opportunities and growth in the private sector to alleviate the continuing pressure on the government’s operating expenses, which is a matter to which we must pay great attention. ".

- We will also discuss the duty of developing the banking sector for its international relations, the role of the Central Bank in this field, and the plans drawn up to reform, improve and equip the banking sector to be able to meet the future demand for diverse banking services and to be a strong alternative to the government banking sector in a way that is more organized, flexible, and in keeping with the latest international standards in Compliance, anti-money laundering, technology adoption, and human capacity development.”

Al-Handal continued, “In light of the great acceleration of events and challenges in the world, there has recently been a major development in the field of the structure of the banking sector, through the plans drawn up 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 produce significant positive results that will significantly impact the economy of our country.”

Al-Handal concluded his speech by saying: “We aspire to emerge from this conference with a common and future vision based on the importance of unifying efforts in order to improve the reality of the economy and improve the standard of living of the people of our country.”

197 views 10/21/2023 - 10:37 AM   https://economy-news.net/content.php?id=37041 

Decline In Iraq's Oil Exports To America

Economy  Saturday, October 21, 2023 Follow-up/National News Center  The US Energy Information Administration announced on Saturday that Iraq's oil exports to America decreased during the past week.

The administration’s table showed that “the average US imports of crude oil during the past week from eight major countries amounted to 4.975 million barrels per day, down by 324 thousand barrels per day from the previous week, which amounted to 5.299 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 127,000 barrels per day last week, down by 120,000 barrels per day from the previous week, which averaged 247,000 barrels per day."

She pointed out that “most of America’s oil revenues during the past week came from Canada at an average of 3,723 million barrels per day, followed by Mexico with an average of 609 thousand barrels per day, and oil revenues from Saudi Arabia amounted to an average of 208 thousand barrels per day, and then Colombia at an average of 150 thousand barrels per day.”

According to the administration, “the amount of American imports of crude oil from Brazil is at a rate of 63 thousand barrels per day, from Nigeria at a rate of 48 thousand barrels per day, and from Libya at a rate of 47 thousand barrels per day, while no quantity is imported from Russia or Ecuador.”

https://nnciraq.com/232939/  

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Points to Ponder on FEAR:

61. The human race is a monotonous affair. Most people spend the greatest part of their time working in order to live, and what little freedom remains so fills them with fear that they seek out any and every means to be rid of it. ~ Johann Wolfgang von Goethe

62. Laughter is poison to fear. ~ George R.R. Martin

63. Be fearful when others are greedy and greedy when others are fearful. ~ Warren Buffet

64. Surely if we knew what bitterness fate held in store, we would shrink back in fear and let the cup of life pass us by untasted. ~ Jacqueline Carey

Goldilocks' Comments and Global Economic News for the evening of October 21st

Good evening Dinar Recaps,

Look for the Feds to continue tightening through raising of interest rates until the markets go to a real value.

This will send us into a liquidity crisis based upon a quadrillion-dollar derivatives deficit.

At this point, we will have real numbers to work with in moving forward with a reset in our economy.

© Goldilocks

https://finance.yahoo.com/news/morning-bid-americas-bond-squeeze-103609414.html

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Long lines at gas pumps are unlikely, but the Middle East crisis could disrupt oil supplies, raise prices

PressHerald Link

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Iraq making progress thanks to constructive reforms

"The third positive development is linked to Al-Sudani’s launch of long-overdue reforms in the banking and finance sectors. These fundamental reforms are vital due to the fact that they will tackle corruption in the financial and banking systems and lead to financial and economic growth."

Iraq moving to their own local currencies on the 1st of January 2024 will allow them to move forward with their banking reforms.

This will involve them moving from the dollar back to their native currency along with mechanisms in place that will tackle corruption.

© Goldilocks

https://www.arabnews.com/node/2394066
Oxford Reference Link

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Washington, D.C. —The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today issued a letter extending the no-action position taken in CFTC Letter No. 22-03 regarding the compliance dates for certain amendments, adopted in November 2020, to the CFTC’s swap data reporting rules concerning block trades and post-initial cap sizes.

The letter states DMO will not recommend the CFTC take enforcement action against an entity for failure to comply with the block and cap amendments before July 1, 2024, provided the entity complies with the CFTC’s block trade and cap size requirements that were in effect on January 1, 2021.

https://www.cftc.gov/PressRoom/PressReleases/8809-

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Jim Willie: Gold, Silver To Rise To Forefront As Treasuries Break Down

https://youtu.be/rTncrwOLkMw?feature=shared

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Taxpayers bailed out the big banks in 2008.

Taxpayers are starting to bail out central banks in 2023.

The system is designed fair, right?

Read: https://x.com/goldtelegraph_/status/1715767960751796542?s=46

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Are we going to give people permission to change?
   Are people's past ways of thinking or saying or doing or being going to be held against them forever?
   People are waking up.  Are we willing to let people Evolve? Shift? Change?
   Nerves are frayed, patience is thin, defenses are up, and people are seeking justice & yet the truth about many things is still just bubbling to the surface to be revealed further...
   At this point.. information is all over the board.. who do you trust? who do you believe?
   No one is 100% right.. no one knows all the story or all the history or all the motives... There has been major f#ckery afoot.. but boy does lots of people have lots of different bits & pieces of the puzzle..
    Lots of people have also learned shocking new to them information about a lot of things they didn't know or realize or even considered before.
   People are waking up to so many things on so many layers & levels. As they do that, they're going to change their whole way of thinking & being. Are we going to let them?
   Online is so divisive right now with so much on the verge & causing so much negativity, fear, finger pointing & suffering.. preventing The People from coming together.. People are losing sight of the forest & they are getting stuck in the trees & weeds...
   As awake or aware as however many of us there are for however long as we have.. we have got to have some patience now when it's most important, with ourselves & for others, as we all shift. As conscious awareness awakens more & more, have patience for your fellow human...
   Patience.. an 8-letter swear word. Brain breaks & heart aches & the sheer amount of disappointment & disheartening things going on right now.. are things that many of us have to remember on behalf of others is that we became aware of a lot of info over time & had some time to process but now this is coming rapid fire & building & very heavy...
   People are also changing their minds, having a change of heart, reconsidering things in a new light, caring about things they never cared about before & learning about things that suck...
   Many haven't even had time to know that it's going to be okay yet.. that some things have to break open & be rebuilt & we're going to be okay because they are in it with close friendships, families, and communities all changing at the same time.  
   Can you remember the times when you learned about things that sucked? That you had to hear it a couple of times before considering it because it sucked so bad? Can you remember when you first tried to talk to others about something you learned & had dived into further, for others to dismiss it, laugh at you or label you a tinfoil hatter?  Many of us joke about it now but we had time to learn to brush off the pushback received from trying to share controversial information that was against accepted known knowledge or long-held beliefs...
  We gotta give people a bit of a break & wait & see..  it's not instant & some previous bad guys who've grown a conscience are going to make great whistleblowers.
   We have to remember no one knows the whole story about anything right now & trusting your own intuition, using your common sense & critical thinking skills & remembering a perspective of the bigger picture is going to help everyone...
   Questioning is good.. but only following or believing 1 person or 1 group or 1 movement will keep people in the weeds...
   It's not the time to take a hard line of black & white, who is absolutely right or truthful or not & wrong.. because in order to put the puzzle together this time we need to flow.. work together, dismiss egos, figure it out, work it out & expose hidden truth to put the pieces together so we can change it.
   Whoever you read, listen to, or watch..Take the bits that resonate with you & dismiss the rest.. because actual mis & disinformation is being used against The People as they discover or reveal the truths that have been actively hidden that they've learned of or experienced.
    Remember to pull out of the muck, exercise patience & see the Forest for the Trees

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$84,500,000,000 Exits JPMorgan Chase, Wells Fargo and Citigroup in Three Months As Depositors Take Flight

DailyHodl Link

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War wakes gold up

SchiffGold Link

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Follow Goldilocks' Roadmap

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Thank you Dinar Recaps

MilitiaMan : Iraq Dinar - Central Bank - Ministry of Finance - International

Iraq Dinar - Central Bank - Ministry of Finance - International

MilitiaMan and Crew:  10-21-2023

The Crew:  Samson, PompeyPeter, Petra, Angel1,  Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=EVAY9r8lFNE

Goldilocks' Comments and Global Economic News Saturday AM 10-21-23

Goldilocks' Comments and Global Economic News Saturday AM 10-21-23

Good morning Dinar Recaps,

Stocks fell yesterday as investors stayed spooked by high bond yields, rising oil prices, and concerns about the Fed’s next move. American Express dropped despite reporting record profits for last quarter because the growth of spending on its cards by businesses has slowed.  

© The Morning Brew

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In a significant move to enhance user accessibility and expand its foothold in the European market, cryptocurrency exchange Binance announced that it has established partnerships with multiple new fiat service providers.
(https://cryptopotato.com/binance-announces-helmet-design-contest-in-partnership-with-alpine-f1-driver-pierre-gasly/) 

According to a blog post, the company has already commenced migrating users to these new services, which include EUR deposit and withdrawal options via Open Banking and SEPA/SEPA Instant, as well as facilitating the buying and selling of cryptocurrencies through various methods.

Integrating new fiat providers is a strategic move for Binance to advance its mission of global financial empowerment. By ensuring seamless access to fiat-crypto conversions, Binance aims to simplify cryptocurrency adoption, especially for newcomers. These fiat pathways are pivotal in improving user experience and expanding access to Web3 ecosystems.

https://cryptopotato.com/binance-expands-fiat-services-in-europe-with-new-partnerships/

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We are living in a time where many assets are in distress. They are called "distressed assets." From homes to cars and more, many people just simply cannot pay their bills as they come due.

Layoffs and lack of job opportunities account for many of these distressed assets that have reached a price of unaffordability.

Many attempts to restructure a loan often work in a growing society, but we are in a global economic downturn. These options at present rates just simply do not work in today's world.

We are not living in a world where real-world assets of real values apply. Our economy is moving closer and closer to a reset of everything.
© Goldilocks

https://viewpoints.reedsmith.com/post/102iq6h/distressed-assets-whats-coming
EurekaHedge

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The Federal Reserve is extending their comment period on proposed Bank Capital requirements.

It is moving from November 30th, 2023 to January 16th, 2024.

Once the comment period Is over, Congress in conjunction with the Banking system will move toward final rules of implementation on how much capital / commodities should be held in Banks as collateral.

These collateral requirements will secure loans, banking investments, and currency transactions from around the world.

© Goldilocks

https://finance.yahoo.com/news/fed-extends-comment-period-on-proposed-bank-capital-requirements-152518890.html.

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Jim Rickards : Fed Overtightening and Liquidity Shortage Raise Concerns

https://youtu.be/VPbAJPKdI1A?feature=shared

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