DINARRECAPS8 11/14/23 DINARRECAPS8 11/14/23

Iraqi News Highlights and Points to Ponder Tuesday Afternoon 11-14-23

The US Federal Reserve Decides To Increase Iraq's Share Of The Dollar

Economy | 11/14/2023 Baghdad - Mawazine News The US Federal Bank decided to increase Iraq’s share of the US dollar. Sources said in an interview with Mawazine News, “The US Federal Reserve decided to increase Iraq’s share of the US dollar.” She added, "This came after Iraqi-American discussions."

What Is The Reason For The Fall In Dollar Prices? Is There A Trick?

Information/Private.. Today, Monday, the economic expert, Diaa Al-Mohsen, attributed the decline in the dollar exchange rates in local markets to the systematic attempt to withdraw the dollar from citizens, while he stressed that the decline is temporary and will not continue or come close to the official exchange rate.

The US Federal Reserve Decides To Increase Iraq's Share Of The Dollar

What Is The Reason For The Fall In Dollar Prices? Is There A Trick?

Al-Mohsen said in an interview with “Al-Ma’louma” that “there are influential parties that directly control the price of the dollar in the local markets,” noting that “the recent measures and meetings will not lead to reducing the gap between the official and parallel prices.”

He continued, "The recent meetings that took place in the Emirates were marred by many problems and did not produce accurate results that work to find solutions to the crisis of the rise in dollar prices," pointing out that "the banks of some countries will benefit from the process of bidding farewell to the Iraqi currency."

He continued: “The recent actions of the Central Bank did not primarily seek the interest of the Iraqi economy,” adding that “the decline in dollar exchange rates in local markets is due to an attempt to withdraw the dollar from citizens.”

Member of the House of Representatives, Kazem Al-Touki, said in an interview with the Al-Ma’louma Agency, “The measures taken by the Central Bank did not stand up to the US Treasury’s decisions regarding the dollar, while he stressed that the sanctions that the US Treasury continues towards Iraq will not allow the stability of the dollar exchange rates in local markets.” LINK

Al-Fateh: Black Money Moved To More Than 20 Countries Because Of America

Information / Baghdad.. The leader of the Al-Fatah Alliance, Raad Al-Tamimi, confirmed, on Tuesday, the transfer of smuggled corruption funds from Iraq to 20 countries allied with America.

Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..

He added, “The stolen money, which is black money, moved to more than 20 countries in order to smuggle it and carry out what is known as money laundering,” pointing out that “the level of cooperation of countries, some of which are Arab, is very limited, in addition to the fact that the file includes great complications in tracking the money.” He pointed out that “

Washington It is the biggest sponsor of corruption in Iraq, especially since it did not do anything to reveal where hundreds of billions of dollars of the Iraqi people’s money went before and after 2003, even though it has sensors in all international banks that enable it to determine the direction of money in a flexible manner. LINK

The Iraqi Dinar Recovers Against The US Dollar In Baghdad.. 158 Thousand For Every 100 Dollars

Economy |Today, 12:18 Baghdad today – Baghdad Today, Tuesday (November 14, 2023), the dollar exchange rates witnessed a noticeable decline in exchange shops in the capital, Baghdad.

The "Baghdad Today" correspondent said, "The selling price of the dollar in exchange offices in Baghdad today reached 158,000 thousand dinars for every 100 dollars."

He added, "The purchase price amounted to 156,000 dinars for every 100 dollars." LINK

Muhammad Al-Najjar: The Digital Transformation Fund Attracts The Cash Pile

Economical 11/13/2023 Baghdad: Hussein Thaghb Al-Tamimi, Executive Director of the Iraq Fund for Development, Muhammad Al-Najjar, said that the most important goals of the Digital Transformation Fund are focused on improving the reality of performance, and for Iraq to transform into a better stage and for us to be a country that improves its presence within the global neighbourhood, as we are lagging behind on the list of countries in the world at this time.

He said: In an interview with “Al-Sabah”: The Digital Transformation Fund is one of 6 funds that make up the Iraq Fund for Development. This fund was formed with the aim of creating a platform for real cooperation between the government and the local and global private sector to enter into strategic projects that help Iraq diversify sources of financial income.

Al-Najjar pointed out that the Digital Transformation Fund has several tasks that have a positive impact on the national economy, the most important of which is developing Iraqi human capital, as Iraq has become an importer of expertise after it was a source of it, and the country now lacks a lot of expertise due to immigration and previous policies that were adopted for decades and caused a loss. A lot of experience, pointing out that the Fund is working to return Iraqi immigrant experiences and employ them in a way that benefits Iraq.

Al-Najjar pointed out that the Digital Transformation Fund is diligently seeking to attract the cash mass hoarded in the private sector and provide paths for it to enter into large projects inside Iraq, and this is very important because there are large amounts of hoarded money that do not provide any service to the national economy, at a time when we find that their entry into the labor market will change...

From the reality of the market, it creates a movement that benefits the national economy and brings great benefit to capital owners through the capital cycle that will take place within a local framework that enhances its value within the country.

He stated that the other goal of the Digital Transformation Fund is to create an ideal and promising business environment that attracts important investments to the country, especially since the Iraqi market is large and possesses the elements of success that are almost unique to countries in the world.

In turn, economic expert Zuhair Sabri Boutros stressed that the availability of the will to create national expertise in various specializations represents the most important pillar in achieving the goals for this topic, which is considered the most important in the process of sustainable economic development, which requires human resources with high expertise capable of mastering advanced technology.

Boutros pointed out that qualified national expertise is the basis for development, reconstruction, and mastery of global developments, and this matter requires a serious approach to training, qualification, and communication with advanced centers around the world with the aim of creating national expertise in various specializations.

He stressed that creating local national expertise provides major financial revenues allocated to foreign expertise that the country uses to complete business in more than one economic sector within the country, noting that Iraq has smart human resources, and this facilitates the task of creating national expertise with global efficiency.

He pointed out the possibility of benefiting from Iraqi expertise that has accumulated experience, especially from those who worked in field sites, especially in the building and construction sector, where there is a need for a large volume of work in all sectors without exception. https://alsabaah.iq/87153-.html

The Dollar Continues To Fluctuate Against The Dinar, Leaving A Deficit In Buying And Selling

Special Sumerian 2023-11-14 | Source: Alsumaria News 51 views The exchange rate in local markets continues to fluctuate up and down, leaving a large deficit in buying and selling.

Fluctuation in the exchange rate in local markets, fluctuation that left a large deficit in buying and selling, markets without shoppers, merchants whose goods were piled up, citizens confirmed that the Iraqi dinar lost its battle against the dollar because of the policies of the central bank, as they put it.

Is there a realistic solution to overcome this economic crisis?

Details with Ahmed Mahdi in the report above. LINK

Economist: There Are No Changes In The Government Program, And The Official Dollar Rate Will Continue For 3 Years

Time: 2023/11/13 Read: 1,118 times {Economic: Al-Furat News} Economist Bassem Jamil Antoine believes that the official exchange rates for the dollar will continue for three years.

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

Antoine told {Al-Furat News} that: “The official exchange rates for the dollar are stable now, and once the budget allocations are released, the unofficial rates will be affected by the parallel rate of the dollar.”

He added, "The official prices will continue for three years, in order to be consistent with the tripartite budget and the established government program."

Antoine continued, "There are no changes in the government program and implementation is continuing," expecting that "the parallel price may decrease due to the unjustified rise in speculation in the local market with the dialogue countries, which play a negative role in exporting its products against the dollar." From: Raghad Dahham LINK

Points To Ponder on Daily Reflections For Highly effective People By Stephen Covey:

The Seven Habits are not a set of separate or piecemeal psyche-up formulas -- In harmony with the natural laws of growth - they provide an incremental - sequential - highly integrated approach to the development of personal and interpersonal effectiveness -- They move us progressively on a Maturity Continuum from dependence to independence to interdependence -- p48-49

#1 Be Proactive
#2 Begin With The End In Mind
#3Put First Things First
#4Think Win/Win
#5 Seek First To Understand Then To Be Understood
#6 Synergize
#7Sharpen The Saw

Dependence is the paradigm of you -- you take care of me - you come through for me -- you didn't come through - I blame you for the results -- Dependent people need others to get what they want -- p49

Independence is the paradigm of I -- I can do it -- I am responsible -- I am self-reliant -- I can choose -- Independent people can get what they want through their own effort --p49

Interdependence is the paradigm of we -- We can do it -- We can cooperate -- We can combine our talents and abilities and create something greater together -- Interdependent people combine their own efforts with the efforts of others to achieve their greatest success -- p49

Effective Interdependence can only be built on a foundation of true independence -- p185

DINARRECAPS8 11/14/23 DINARRECAPS8 11/14/23

Goldilocks' Comments and Global Economic News Tuesday AM 11-14-23

Goldilocks' Comments and Global Economic News Tuesday AM 11-14-23

Good morning Dinar Recaps,

"Saturday, informed government sources revealed an Iraqi-American agreement regarding foreign transfers to cover imports"

Iraq is currently raising Capital Requirements in their banking system to cover imports and foreign transfers to several countries.

They are expecting to be able to follow through on this request with JPMorgan's guidance within the next few days.

Goldilocks' Comments and Global Economic News Tuesday AM 11-14-23

Good morning Dinar Recaps,

This will help them move money in and out of Iraq enhancing their private sector merchants with liquidity through cross-border trades.

© Goldilocks Zawya Link
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When the government needs to borrow money, they utilize a t-bill scheme. They formulate new treasury bonds with the anticipation of Market investors buying them. They are considered a safe bet on returns inside of Market that is struggling.

"The 30-year U.S. Treasury yield climbed above 4.8% on Thursday, from 4.655% the prior day, after a sale of $24 billion in bonds received far less demand from investors than the government is used to."

In other words, Market liquidity is drying up. This moves us closer to a flip in the market whereby gold provides liquidity going forward. Time will tell if they hold to the date of January 16th, 2024 in moving to the final implementation stage of capital requirements for banks to hold gold in reserve for events such as this taking place.

When a crisis develops in the markets hardcore banking benchmarks become flexible. We will have to watch this one.

© Goldilocks

The Edge Malaysia Link

WSJ Link
Corporate Finance Institute Link

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Liquidity gridlock worsens in US commercial real estate sector Reuters Link

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US Credit-Rating Outlook Changed to Negative by Moody’s Bloomberg Link

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To enhance foreign investment in Chinese financial markets, the People's Republic of China has recently implemented substantial changes to the regulations overseeing foreign institutional investors. These changes specifically pertain to managing funds used for trading in domestic securities and futures, focusing on streamlining processes related to fund registration and currency conversions.

https://www.indrastra.com/2023/11/china-streamlines-reforms-for-foreign.html

👆Goldilocks pointed to this article

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China-led global CBDC platform, mBridge intends to introduce a minimum viable project in the middle of 2024 as the next step for the blockchain-based cross-border payments solution.

The initiative was founded by the central banks of Thailand, Hong Kong, China, and the United Arab Emirates, and it operates under the umbrella of the Hong Kong BIS Innovation Hub. Participants include the International Monetary Fund, the World Bank, and 23 central banks from across the world.

https://bitcoinke.io/2023/11/mbridge-to-launch-mvp-in-2024/

👆Goldilocks pointed to this article

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The ISO 20022 crypto-list encompasses compliant digital coins and tokens adhering to the standards set by the International Organization for Standardization (ISO) under ISO 20022. These cryptocurrencies are poised to be integrated into a novel financial system known as ISO 20022-compliant cryptocurrencies, with widespread anticipation that their value will surge upon the standard’s implementation.

News4Social Link

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"How Central Banks Can Use Gold Revaluation Accounts in Times of Financial Stress"

When the Central Banks make a decision to turn their gold holdings into real-valued liquidity prices, it has the ability to turn the markets around forging a path into the future led by the metal markets.

The suppression of gold and other commodities has allowed inflation to move into directions whereby the only choice left to us is releasing caps on the commodity sector of the market.

At this point, a revaluation in gold is rapidly approaching. "Gold will set us free and all roads lead to gold.

© Goldilocks

GoldSeek Link 1

GoldSeek Link 2

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JUST IN: 🇺🇸 Largest US options exchange Cboe to launch margined Bitcoin and Ethereum futures.

@WatcherGuru

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"Goodyear’s Q3 sales decreased 3.2% to $5.142 billion compared with $5.311 billion the prior year on the back of commercial truck industry weakness and, to a lesser extent, other tire-related sales declines, the company said."

If the Trucking industry is not on the road moving products, we have a problem. The trucking industry is one of those indicators that allows data reporting agencies to know and understand certain sectors of the market.

This one measures our goods and services sector of the economy, and it is beginning to turn downward in significant degrees.

This is another reason why Libor lending services shifted to SOFR lending services on July 1st, 2023. Remember, SOFR lending is a collateralized-based lending service based on gold as a backing for support. Gold is the new liquidity inside all sectors of the market.

"Gold will set us free and all roads lead to gold."

© Goldilocks

https://www.ttnews.com/articles/goodyear-earnings-q3-2023

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On the US Debt Clock, watch what happens to the price of gold and silver when the dollar supply runs out.

© Goldilocks

https://www.usdebtclock.org/

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Why the US money supply is shrinking for the first time in 74 years
https://www.goldmansachs.com/intelligence/pages/why-the-us-money-supply-is-shrinking.html

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Thank you Dinar Recaps www.DinarRecaps.com

DINARRECAPS8 11/14/23 DINARRECAPS8 11/14/23

Iraq Economic News and Points to Ponder Tuesday AM 11-14-23

Tlm724 Administrator Bondlady’s Corne

What Is The Importance Of The Recent Iraqi-American Agreement In The UAE Regarding The Dollar?

Economy |12-11-2023, 20:01 | Baghdad today – Baghdad Today, Sunday (November 12, 2023), economic affairs researcher Nasser Al-Kanani revealed the importance of the Iraqi-American negotiations in the Emirates regarding the recent agreement on dollar transfer mechanisms.

Al-Kinani said to “Baghdad Today” that “the recent dialogues between the Central Bank of Iraq and the US Federal Reserve, in the UAE, are a very important step in order to find real solutions to the dollar crisis that Iraq has been going through for nearly a year, and for which no solutions have been found.” As the dollar exchange rate continues to rise.”

Iraq Economic News and Points to Ponder Tuesday AM 11-14-23

Tlm724 Administrator Bondlady’s Corne

What Is The Importance Of The Recent Iraqi-American Agreement In The UAE Regarding The Dollar?

He added, "Enhancing the balances of some Iraqi banks in dollars directly by (JP Morgan Bank) is an important step that will alleviate the scarcity of dollars in banks and the market, which was the reason for the recent rise in the exchange rate in the parallel market.

We also believe that implementing what was stated in the agreement The Iraqi-American latest regarding commercial transactions in the UAE dirham and the Chinese yuan will prompt a reduction in the dollar exchange rate in the coming days.”

Earlier, reports revealed an agreement between the Central Bank of Iraq and the US Federal Bank during a meeting in the Emirates, to add new banks as part of the work of enhancing foreign remittances.

According to the agreement, the number of banks capable of enhancing balances and transferring currencies abroad became 10 instead of 5 banks, and enhancing their balances in dollars in advance, in addition to strengthening a number of banks in Chinese yuan or the UAE dirham and the Indian rupee, which allows foreign trade to be easily enhanced and financed with dollars.

https://baghdadtoday.news/235386-ما-أهمية-الاتفاق-العراقي-–-الامريكي-الأخير-في-الامارات-بشأن-الدولار؟.html

What Is The Role Of Private Banks In The Recovery Of The Parallel Market For The Dollar?

Politics/Economy |Yesterday, 21:37 | Baghdad Today – Baghdad Member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, confirmed today, Monday (November 13, 2023), that the

role of banks must be reflected in financing development projects and providing liquidity and lending to citizens and projects, but the role of private banks in Iraq is limited to currency trade.

Al-Karawi said in an interview with “Baghdad Today” that “recent years have witnessed the opening of dozens of private banks in Baghdad and the rest of the Iraqi governorates in a major revival of the banking sector, which is the largest of its kind since the founding of the Iraqi state more than 100 years ago.”

He added, “Despite our support for the establishment of banks, what is more important in our view is what they provide to the national economy,

especially since banks are concerned with many issues, most notably financing development projects and overcoming obstacles in providing lending liquidity to citizens, companies, and businessmen, and entering into economic partnerships that directly revive the investment file, but what we see is It is different in most cases, and the role of banks is directly defined in the currency trade file.”

He pointed out that "the presence of more private banks than government banks, or vice versa, does not constitute a factor affecting the exchange rate of the dollar or the parallel market,

if the latter is managed in a way that contributes to stopping its smuggling and speculation, ending the dollarization file, and returning the dinar for all internal financial transactions," pointing out that

"The file of private banks needs real reconsideration and evaluation in order to push them to open up towards financing investments and increasing the pace of financial lending.” He continued,

"It is unacceptable that some banks turn into more like banking offices and earn money through the currency auction, which needs an objective reconsideration."

The total number of banks in Iraq is 81 banks, of which the number of government banks is only 7, while the number of private banks is 74 banks, according to economic statistics.

On the other hand, the list of dollar sales in the Central Bank of Iraq shows that the number of banks participating in the currency auction, whether for cash sales or foreign transfers in general, ranges between 25 and 30 banks only.

Economic and political circles have accused specific banks of taking over the currency auction at the Central Bank, while

experts point out that this comes because of the so-called “correspondent banks” these banks own in other countries, which makes them capable of organizing foreign financial transfers compared to those banks that It does not have “correspondent banks”.

However, according to a recent agreement between the Central Bank of Iraq and the Federal Bank, the number of banks capable of conducting external financial transfers will be increased from 5 banks to 10 banks, and these new banks will be strengthened with advance shares of the dollar,

making them able to carry out external transfers by relying on the correspondent banks that they own in the country. Several countries.

https://baghdadtoday.news/235462-مادور-المصارف-الأهلية-في-انتعاش-السوق-الموازي-للدولار؟.html

What Do You Know About Trading Companies? How Do You Determine Its Trustworthiness?

Economy Trading companies forex 2023-11-13 11:29 The foreign exchange market, known as Forex, is a global market characterized by a decentralized market that includes the trading of major currencies such as the dollar, the euro, the British pound, and emerging market currencies such as the Turkish lira and the South African rand.

The trading process is carried out through brokerage companies, which have become incredibly widespread these days thanks to the availability of easy technological solutions and advanced communication tools. The main role of Forex brokers is to facilitate retail traders' access to the Forex market and execute their trades via liquidity providers.

While we have witnessed in recent years an amazing proliferation of brokerage companies, their desire is to seize a portion of the market in which the trading volume is estimated in the billions. We find that among these companies seek to operate under a legal umbrella in accordance with specific rules in this market, in the context of seeking to obtain an additional advantage for customers.

The importance of brokerage companies operating in the Forex field obtaining a legal license

Licensing ensures that the brokerage company operates within the legal framework set by the regulatory authorities in the country or region in which it provides its services. Primarily helping the company avoid legal problems and penalties resulting from violating the rules and regulations of trading in the market. At the same time, the license ensures that the brokerage company adheres to specific standards of financial and operational behavior, which guarantee the safety of clients’ funds.

For example, the regulatory authorities, which we will detail, require basic conditions for all brokerage companies, most notably the segregation of client funds, maintaining sufficient capital, and implementing... Strong risk management practices, as well as undergoing periodic audits. This helps the company protect its reputation and enhance trust among its customers and partners.

At the same time, the license enables the brokerage company to expand its market reach and its clients by reaching different jurisdictions that require a valid license to operate in the Forex market. This helps the company increase its revenues and profits by offering its services on a broader and more diversified scale.

Licensing also facilitates the establishment of banking relationships necessary for the smooth and efficient operation of the brokerage company, especially since most financial institutions and liquidity providers prefer to work with licensed brokers, which ensures their credibility. This helps the company secure better terms and conditions for its transactions and banking services.

Trading through reliable and licensed trading companies

Although currency trading in the Middle East is not a new activity, it is a market that is expanding steadily, as many new traders enter the field periodically. In this regard, the basic advice is limited to learning before starting trading, and when making a trading decision, trading should only be done through trusted trading companies.

Forex brokers regulators

There are many authorities competent to regulate the work and oversight of brokerage companies operating in the field of currency and stock trading. Each regulatory body has a limited geographical scope, and the rules governing each body differ from the other.

Some of the regulatory bodies for Forex brokerage companies in the world are at the forefront as an important guarantee for any company that falls under its banner.

The most prominent of these bodies is the Financial Conduct Authority (FCA) in the United Kingdom. Its roles vary, supervising the conduct and precautionary standards of a large number of financial companies in the Kingdom. It acts as a safeguard for the financial system of financial companies operating in the country, imposing penalties and compensation on companies that flout the rules.

The Cyprus Securities and Exchange Commission (CySEC) is in an advanced position as a regulatory and supervisory body for many Forex brokers, as it has a resonant name with a good reputation for traders looking for licensed brokerage companies, while at the same time representing an attraction for these companies due to low taxes and favorable regulations. ]

The most prominent rules by which the Cyprus Commission obligates Forex companies to adhere to the MiFID II directives, which set standards for investor protection, market transparency and financial stability in the European Union. The Cyprus Securities and Exchange Commission also operates a compensation fund that covers clients up to €20,000 in the event of a regulated company failure.

Regulating Forex Brokers in the Middle East

Dubai is at the forefront as a destination for Forex companies in the Middle East and the Arab world, with the authorities in Dubai interested in developing laws to attract investment companies in all fields, as the emirate seeks to maintain its current leadership as a major financial center in the Middle East region. In the UAE, we find the Dubai Financial Services Authority (DFSA) as the main regulatory body for Forex brokers in the Middle East, as it supervises the activity of financial companies in the Dubai International Financial Center. With the aim of strengthening financial markets and adding a kind of stability and transparency.

The DFSA sets standards for licensing, conduct, capital, risk management and reporting, and administers a compensation fund that covers clients up to $250,000 in the event of a regulated company going bankrupt.

Also located in Dubai is the Securities and Commodities Authority (SCA) which is the main regulatory body for forex brokers in the UAE, with the exception of the Dubai International Financial Centre. Aiming to protect investors, the SCA also administers the Investor Protection Fund, which covers clients up to AED 500,000 in the event of a regulated company going bankrupt.

https://shafaq.com/ar/اقتصـاد/ماذا-تعرف-عن-شركات-التداول-وكيف-تحدد-مدى-ثقتها

The Sudanese Advisor Confirms The Presence Of Positive Financial Indicators For The Year 2024

November 11 Information / Baghdad... On Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained in numbers the financial situation data, indicating that Iraq did not need to borrow this year, while confirming that the indicators for next year 2024 are positive.

Saleh told the official agency and his follower “Al-Ma’louma” that,

“At the level of financial planning for oil resources, the tripartite federal general budget for Iraq adopted an average price of a barrel of oil (as planned oil revenues and over the course of each year of the fiscal years 2023, 2024, and 2025) and adopted a price of $70.” per barrel of crude oil exported, with export capacities reaching 3 million and 400 thousand barrels per day.”

He added, "The estimated price is a hypothetical precaution to avoid the risks of the cycle of oil assets, and there are financing preparations planned by the budget in the event that oil prices touch an annual average of $70 per barrel or less, providing a hypothetical annual borrowing leverage in the event that prices fall below their estimated limits."

Saleh continued, “The fiscal year 2023 did not indicate an urgent need for borrowing to cover the hypothetical deficit for two main reasons.

The first is: “The average price of Iraqi exported oil is still higher than $70 per barrel, with an increase of at least $10 per barrel over what was planned.”

Crude oil exported as an annual average, which constituted, in numbers, cash revenue that compensated the country from resorting to internal and external borrowing (with the exception of some prior international financial obligations to finance some investment projects).

The other reason is the accumulation of financial balances from the previous fiscal year amounting to approximately 23 trillion dinars, which also helped.

The general budget was able to manage its expenditures and obligations, while at the same time reducing the hypothetical deficit gap and identifying positive indicators of the country’s financial situation.”

The financial advisor to the Prime Minister pointed out that

“the data for the next fiscal year 2024 within the tripartite budget and through perceptions of the reality of the oil market and current energy prices provide positive indicators and an increase in global demand for crude oil, which gives reassuring signs about the financial implementation paths for the coming year, and provides relative reassurance.” In budget resources in the next fiscal year, the fiscal policy may not require borrowing, except within acceptable minimum limits that do not affect the accumulation of debt indicators.

Borrowing may be when necessary to overcome an emergency and temporary deficit that requires providing a (bridge loan) for the purposes of carrying out development projects similar to the bonds that have been issued. Recent reconstruction and specific amounts.”

Saleh warned that "the state's partnership with the private sector will remain one of the pillars of financial diversification as a strategy for Iraq and is outside the country's rentier flows, that is,

by creating joint national financial leverages with the private sector that will constitute the country's financial strategy to provide stronger guarantees in the sustainability of development and the stability of its financing."

https://almaalomah.me/news/46687/economy/مستشار-السوداني-يؤكد-وجود-مؤشرات-مالية-إيجابية-لعام-2024

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

35. Fear’s useless. Either something bad happens or it doesn’t: If it doesn’t, you’ve wasted time being afraid, and if it does, you’ve wasted time that you could have spent sharpening your weapons. ~ Sarah Rees Brennan

36. Fear is the main source of superstition, and one of the main sources of cruelty. To conquer fear is the beginning of wisdom. ~ Bertrand Russell

37. Fear isn’t so difficult to understand. After all, weren’t we all frightened as children? Nothing has changed since Little Red Riding Hood faced the big bad wolf. ~ Alfred Hitchcock

38. The cave you fear to enter holds the treasure you seek. ~ Joseph Campbell

39. Fear is a manipulative emotion that can trick us into living a boring life. ~ Donald Miller

40. It’s all right to be afraid. You just don’t let it stop you from doing your job. ~ Jim Butcher

42. It frightens me, the awful truth, of how sweet life can be. ~ Bob Dylan

43. Power is of two kinds. One is obtained by the fear of punishment and the other by acts of love. Power based on love is a thousand times more effective and permanent then the one derived from fear of punishment. ~ Mahatma Gandhi

Dinar Recaps 20 11/14/23 Dinar Recaps 20 11/14/23

"Tidbits From TNT" Tuesday Morning 11-14-2023

TNT:

Tishwash: Al-Fateh: Black money moved to more than 20 countries because of America

The leader of the Al-Fatah Alliance, Raad Al-Tamimi, confirmed on Tuesday that the smuggled corruption money had been transferred from Iraq to 20 countries allied with America.

Al-Tamimi said in an interview with Al-Maalouma, “The level of corruption in Iraqi state institutions is great, but unprecedented rates were recorded in the Al-Kadhimi government, which was involved in more than 10 large files, according to investigations, which include a large waste of money.”

He added, “The stolen money, which is black money, moved to more than 20 countries in order to smuggle it and carry out what is known as money laundering,” pointing out that “the level of cooperation of countries, some of which are Arab, is very limited, in addition to the fact that the file includes great complications in tracking the money.” He pointed out that “

TNT:

Tishwash: Al-Fateh: Black money moved to more than 20 countries because of America

The leader of the Al-Fatah Alliance, Raad Al-Tamimi, confirmed on Tuesday that the smuggled corruption money had been transferred from Iraq to 20 countries allied with America.

Tishwash: A government source reveals a package of measures to address the difference in the exchange rate

Today, Tuesday, a government source revealed a package of measures to address the difference in the exchange rate, while noting that Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a committee to hold serious discussions with the US Treasury Department regarding transfers.

The government source stated to the Iraqi News Agency (INA), that “the government has taken a package of measures to address the difference in the exchange rate, including: organizing the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency selling window by facilitating account opening procedures, deposit operations, and other procedures related to issuing...

The identity of the importer, which would facilitate the requirements of (Know Your Customer) for the category of merchants and importers,” noting that “there are ongoing negotiations between the government and the Central Bank with the Iranian side to regulate trade between the two countries and take the best options regarding payment of dues and amounts, and discussions are taking place at a good pace.”

He added, "Prime Minister Muhammad Shiaa Al-Sudani directed to work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (Al-Sandah at stable prices)." And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector, some of which work began a while ago.”

He continued, "The government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries," pointing out that "the government is currently studying establishing a free zone to import materials and then Marketing it to the private sector and ensuring its delivery to the consumer at competitive prices and in the Iraqi dinar. The government is also currently studying a re-export project and there are important discussions in this regard.”

He pointed out that "the government issued a series of measures to develop electronic payment systems and reduce dependence on cash. A series of other decisions will also be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment."

He explained, "Prime Minister Muhammad Shiaa Al-Sudani directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee has begun its meetings from now."

He pointed out that "the government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar. This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway."

Proceeding to conclude agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi tourists and pilgrims going to those countries without the dollar currency ink

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

Tishwash: To discuss “concrete” problems...an economic conference in Erbil seeks to attract international investors

An economic conference was held in Erbil, the capital of the Kurdistan Region, today, Tuesday, to discuss the problems that the region and Iraq are suffering from in this field, while an economist described that the purpose of holding the conference is to discuss “our concrete economic problems” and attract international investors.

The Shafaq News Agency correspondent said that the Ministry of Industry and Trade in the Kurdistan Regional Government held a general conference across Iraq for the commercial and investment sectors entitled “Kurdistan Business Lobby,” in the presence of about 200 Iraqi investors, businessmen, and capital owners from neighboring countries.

Economist Kamran Mahmoud said in a speech during the conference, “This conference is one of the advanced conferences in the region because it identifies our economic problems in the Kurdistan Region and Iraq.”

He added, "These problems are concrete, and we are trying through this conference to change our ideas and economic policies in the region and the federal government, as well as to change the mentality of capitalists because we want complete development at the commercial and industrial level," calling for "using the economy as a main factor to attract foreign investors to the Kurdistan Region." And Iraq.” link

Mot: .. Splain why shes Holding a Frying Pan!! - K!!!

Mot: .. Poor ole ""Earl"" – LOL

Dinar Recaps 20 11/13/23 Dinar Recaps 20 11/13/23

Some "Monday Iraq News" Posted by Clare at KTFA 11-13-2023

KTFA:

Clare: Iraq plans to “neglect the US dollar” and Parliament proposes “diversifying foreign currency baskets”

11/13/2023 Baghdad

The House of Representatives Finance Committee said today, Monday (November 13, 2023), that there is a necessary and important need to diversify the basket of foreign currencies in Iraq and not rely on the US dollar in commercial transactions.

Committee member Moin Al-Kazemi told “Baghdad Today” that “the basket of foreign currencies in Iraq must be diversified and not relied on the dollar in commercial transactions, whether external or even internal, as this reduces American dominance over the Iraqi economy.”

KTFA:

Clare: Iraq plans to “neglect the US dollar” and Parliament proposes “diversifying foreign currency baskets”

11/13/2023 Baghdad

He added, “The Iraqi economic ground is ready and prepared to strengthen banks in various foreign currencies and not be limited to the US dollar, and there is a real trend by the monetary authority in this matter, and the coming days will witness various commercial transactions through the UAE dirham as well as the Chinese yuan and other currencies, and this will reduce demand.” On the dollar, and it will have an impact on reducing the dollar exchange rate in the parallel market.”

Last Saturday (November 11, 2023), a government source in Iraq said that officials from the Central Bank of Iraq held “intensive meetings” with American officials in Abu Dhabi in recent days to discuss external transfers to cover imports.

The source added, according to what was reported by the “official agency,” that “Iraq has strengthened its assets denominated in the yuan through the Singapore Development Bank to finance Iraqi trade and imports with China by about 12 billion dollars annually.”

The source stated that the oil-exporting country also moved to strengthen its assets in UAE dirhams and is negotiating to increase its assets denominated in euros to finance trade with the European Union, according to what was reported by Iraqi news agency “Inaa.”

The source added that negotiations with the American side reached a set of decisions and mechanisms that contribute to facilitating procedures for foreign transfers related to imports through the foreign currency sales window.

He added, "It was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via JP Morgan Bank," noting that "the problems related to the rejected transfers were resolved, and it was agreed that the Rejection of transfers should be based on strong reasons."

He continued: “There were also other meetings that brought together one of the Emirati banks, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks,” indicating that “things are going well in this aspect, as all technical details related to the issue have been resolved, and it is expected to begin.” The mechanism for enhancing balances in UAE dirhams during the next few days.”

He stressed that "there are serious negotiations that have reached their final stages to enhance the balances of some Iraqi banks in euros with UBAF Bank to finance trade with the European Union," noting "an increase in the number of banks whose balances in Chinese yuan are being enhanced through the Singapore Development Bank.”

The source also reported that bank accounts had begun to be opened in Indian rupees for a number of Iraqi banks at the same correspondent, the Singapore Development Bank (New Delhi branch), and operations to enhance the balance of two Iraqi banks had actually taken place as a first stage, and it is expected that this mechanism will contribute to financing Iraq's imports from India, especially medicines and materials. Food, which is estimated at about $3 billion. LINK

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

Clare: Al-Sudani and Zidane discuss judicial efforts to deter dollar speculators

11/13/2023

Prime Minister Muhammad Shia al-Sudani and the head of the Iraqi Judicial Council, Faiq Zaidan, discussed on Sunday the judiciary’s efforts to hold manipulators and hard currency speculators accountable.

This came during a meeting between Al-Sudani and Zidane, according to a statement received by Shafaq News Agency, during which a number of files and judicial procedures taken were discussed. For the rule of law and to enhance security and stability in the country.

The two sides discussed the importance of strengthening the efforts made by the Iraqi judiciary in holding accountable those who manipulate the people’s livelihood and foreign currency speculators. With the aim of destabilizing the market, affecting the living conditions of citizens, and disrupting government plans to achieve economic and financial reform. LINK

Clare: Al-Basri: We have complete information about exchange rate speculators and we arrested 22 accused of corruption

11/13/2023 Baghdad

The head of the supporting team of the Supreme Anti-Corruption Commission, Abu Ali Al-Basri, revealed that large files had been opened, and while he announced the arrest of 22 accused, he determined the fate of those manipulating the dollar exchange rates .

Al-Basri said in an interview with the official news agency, viewed by Al-Iqtisad News, that “the Anti-Corruption Committee has large operations in the governorates of Baghdad, Basra, Salah al-Din, and Anbar, as well as other operations in various places. ”

He pointed out that "the committee's work continues against those accused in corruption cases and was recently able to arrest 22 involved," noting that "the Anti-Corruption Committee is now carrying out major operations, some of which have targeted people who had red lines on them. "

Al-Basri pointed out that “the Anti-Corruption Committee will not compliment anyone and has no red lines for anyone,” noting that “some files related to corruption need a detailed study, and the committee has opened many files related to previous contracts concluded in state institutions. ”

He continued, "The Supreme Anti-Corruption Committee also opened the file of financial inflation and it affected large people," stressing that "there is coordination with Interpol regarding those wanted in corruption cases, and this includes even dual nationals. "

Al-Basri continued, “The competent authorities have moved to a new stage in the file of combating corruption, preserving public money, returning stolen funds, and preventing any new transgression .”

He stated that "the government is serious about combating corruption and has modern treatment methods, including automating state institutions ."

Al-Basri explained that “the Supreme Committee has complete information about speculators at the exchange rate, and it will reach them, and no one will protect them,” pointing out that “merchants who manipulate the exchange rate will be deprived of obtaining the dollar through the electronic platform of the Central Bank, and there is joint work and effort undertaken by it.” The various state agencies, starting with the supporting team, the various agencies, the judiciary, and the Integrity Commission .”

He stated that "there is a major campaign to monitor the market and illegal sales, and the Anand Agency was able to arrest major figures who were involved," pointing out that "the process of obtaining the dollar and foreign trade has exceeded 90 percent through the electronic platform and that things are moving in the right direction. "

He stressed that "the state provides great support for many goods and also provides many facilities to merchants," noting that "the inflation index is low in Iraq compared to many countries, including neighboring countries. LINK

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

Clare: Ministry of Finance: Completing the final accounts of the budgets for the years from 2017 to 2019

11/13/2023

The Ministry of Finance announced the completion of the final accounts of the budgets before their legal dates.

A statement from the ministry, a copy of which {Al-Furat News} received, stated, “In confirmation of the governmental approach and the Ministry of Finance in adopting the principles of transparency and integrity in public financial management, the Ministry took the initiative with the beginning of the work of the new government and in accordance with its government program, and under the directives of the Prime Minister, Muhammad Shiaa al-Sudani, and the Minister of Finance, Taif Sami.” To begin work on completing the final accounts of the budgets for the first time for the years from 2017 to 2019, which were sent to the Federal Office of Financial Supervision, and work continues to complete the final accounts for the years 2020 to 2022.

He added, "Despite the complications that accompanied the process of issuing these accounts, the Ministry committed itself to exceptional efforts throughout the previous stage to complete the subject of the final accounts, in line with the provisions of the Iraqi Constitution, and the text of Article (62/First) of the Constitution, which stipulates that" The Council of Ministers shall submit the General Budget Law and the Final Account to the House of Representatives for approval, in accordance with the provisions of Article 34 of the Financial Management Law No. 6 of 2019.”

He pointed out that "this achievement constitutes a notable development in the corrective path of financial policy within the government program, as the state's final accounts reflect the processes of applying the general budget in accordance with the legal regulations, rules and financial instructions in force to show the state's financial position with its collectible rights and obligatory obligations." Payment.”

The Ministry of Finance affirmed its “commitment and keenness to complete and submit the final accounts with each budget, and to refer them to the House of Representatives for the purpose of approval, in implementation of the decision of the Federal Supreme Court, whose decisions are considered final and binding on all authorities based on the text of Article 94 of the Constitution.” LINK

DINARRECAPS8 11/13/23 DINARRECAPS8 11/13/23

Iraq Economic News and Points to Ponder Monday Afternoon 11-13-23

Tlm724 Administrator Bondlady’s Corne

A New Step May Fluctuate The Dollar Exchange Rates.. What Do Economists Think?

Posted 12 seconds ago News source /newsroom News source/ newsroom Today, Sunday, the economic expert, Abdul Rahman Al-Mashhadani, explained the impact of the approval to enhance the dollar balance of 10 banks on exchange rates in local Iraqi markets, while explaining the repercussions of the decision.

Al-Mashhadani said, in an interview with the Maalouma Agency, that “visiting the balance of ten banks in dollars will be one of the factors that will reduce the pressure on the dinar.”

Iraq Economic News and Points to Ponder Monday Afternoon 11-13-23

Tlm724 Administrator Bondlady’s Corne

A New Step May Fluctuate The Dollar Exchange Rates.. What Do Economists Think?

Al-Mashhadani said, in an interview with the Maalouma Agency, that “visiting the balance of ten banks in dollars will be one of the factors that will reduce the pressure on the dinar.”

Because a portion of the financial transfers that pass through the electronic platform are rejected for some reason or without,” indicating that

“the past few days have witnessed the rejection of 80% of external transfers.”

He added, “The pressure will be eased on the dinar as well; Because the transfer transactions, or the transferees, instead of being audited by the US Federal Bank, will be audited by JP Morgan,” pointing out that “the latter’s scrutiny is more severe than the Federal Reserve Bank.”

The economic expert explained, “These banks have relationships, as partners, with international banks such as Al-Qantar National, Capital Bank, and the Kuwait Finance Bank, in addition to the Kuwait National,” noting that

“it is true that these banks are Iraqi, but the entry of the founding partners of these international banks, organized “To them.” Al-Mashhadani stated,

“The transfer mechanism will pass without the Central Bank of Iraq, especially after transfers were delayed by 8-20 days.

However, using this method, it is possible to pass financial transfers within a day or two.”

Earlier today, a government source revealed an Iraqi-American agreement to enhance the balance of 10 banks in dollars in light of the recent meetings of the Central Bank with the American side, five of which were through Citibank, and the other five through JP Morgan.

During the current period, the exchange rates of the dollar in the local markets are witnessing a significant increase, as the exchange rate of 100 dollars reached more than 164 thousand dinars, in light of large sales to the Central Bank of Iraq, on a daily basis. https://iraqakhbar.com/4105470

Telecommunications Announces The Launch Of The Smart Savings Card Project In Iraq

Money and business Economy News – Baghdad The Ministry of Communications announced, on Monday, the launch of the smart savings card project instead of paper savings books, in cooperation with the international smart card company (Key Card), through post offices spread across Baghdad and all governorates.

A statement from the ministry, seen by Al-Iqtisad News, stated,

“The project includes converting the paper mail book to the electronic system, automating postal services, and issuing a smart card.

Therefore, the General Post and Savings Company calls on customers who own savings accounts to visit the following post offices (Baghdad Post Office in Al-Salihiya). - Al-Intisar Post Office in Al-I'lam District - Al-Hurriya Post Office in Al-Hurriya City - Aden Post Office in Aden Square - Al-Dora Post Office in Al-Dora - Al-Rashid Post Office in Al-Sinak Dalat - Al-Dobat Post Office in Zayouna - New Baghdad Post Office in the New Baghdad District- July 14 Post Office in Talbieh - Palestine Post Office on Palestine Street) to replace their notebooks with the new savings card, bringing with them identification documents to update their personal data, and switch to electronic dealings and enjoy postal services using the latest international technologies.”

The Ministry would like to “notify the savings subscribers of the General Postal and Savings Company that it will announce the remaining 266 post offices successively.”

Views 24 11/13/2023 - 9:35 PM https://economy-news.net/content.php?id=37509

Granting A Main Agency To Exchange Companies Under Categories (A And B)

November 12, 2023

Exchange companies under categories (A and B) are kindly requested to contact the contact points below for the purpose of obtaining the main agency for your companies.

1. Western Union

Dina.mehanna@westernunion.com

2. Money Gram

Bahar D. Sahajwalla Tell: 202-3656763 Email: bsahajwalla@moneygram.com

3. Union pay

Haider Ali Raza Tell: 971 507 581469 Email: haideraza@unionpayinti.com

We hope that you will inform us of your procedures, what has been achieved, and our readiness to provide support in the advanced stages of submitting applications. https://cbi.iq/news/view/2466

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

25. Men go to far greater lengths to avoid what they fear than to obtain what they desire. ~ Dan Brown

26. A man that flies from his fear may find that he has only taken a short cut to meet it. ~ J.R.R. Tolkien

27. Without fear there cannot be courage. ~ Christopher Paolini

28. I must say a word about fear. It is life’s only true opponent. Only fear can defeat life. It is a clever, treacherous adversary, how well I know. It has no decency, respects no law or convention, shows no mercy. It goes for your weakest spot, which it finds with unnerving ease. It begins in your mind, always … so you must fight hard to express it.

You must fight hard to shine the light of words upon it. Because if you don’t, if your fear becomes a wordless darkness that you avoid, perhaps even manage to forget, you open yourself to further attacks of fear because you never truly fought the opponent who defeated you. ~ Yann Martel

29. The light of a new day always chases the shadows of the night away, and shows us that the shape of our fear is only the ghost of our own minds. ~ Terry Goodkind

30. People are supposed to fear the unknown, but ignorance is bliss when knowledge is so damn frightening. ~ Laurell K. Hamilton

31. Here is the world. Beautiful and terrible things will happen. Don’t be afraid. ~ Frederick Buechner

32. Fear doesn’t shut you down; it wakes you up. ~ Veronica Roth

33. Keep your fears to yourself, but share your courage with others. ~ Robert Louis Stevenson

34. Our greatest fear should not be of failure but of succeeding at things in life that don’t really matter. ~ Francis Chan

Dinar Recaps 20 11/13/23 Dinar Recaps 20 11/13/23

"Tidbits From TNT" Monday 11-13-2023

TNT:

Tishwash: Iraq plans to “neglect the US dollar” and Parliament proposes “diversifying foreign currency baskets”

The House of Representatives Finance Committee said today, Monday (November 13, 2023), that there is a necessary and important need to diversify the basket of foreign currencies in Iraq and not rely on the US dollar in commercial transactions.

TNT:

Tishwash: Iraq plans to “neglect the US dollar” and Parliament proposes “diversifying foreign currency baskets”

He added, "The Iraqi economic ground is ready and prepared to strengthen banks in various foreign currencies and not be limited to the US dollar, and there is a real trend by the monetary authority in this matter, and the coming days will witness various commercial transactions through the UAE dirham as well as the Chinese yuan and other currencies, and this will reduce demand." On the dollar, and it will have an impact on reducing the dollar exchange rate in the parallel market.”

He added, "It was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via JP Morgan Bank," noting that "the problems related to the rejected transfers were resolved, and it was agreed that the rejection of transfers should be based on strong reasons."

He continued: “There were also other meetings that brought together one of the Emirati banks, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks,” indicating that “things are going well in this regard, as all technical details related to the issue have been resolved, and it is expected to begin.” The mechanism for enhancing balances in the UAE dirham during the next few days.”

The source also reported that bank accounts had begun to be opened in Indian rupees for a number of Iraqi banks at the same correspondent, the Singapore Development Bank (New Delhi branch), and operations had actually been carried out to enhance the balance of two Iraqi banks as a first stage, and it is expected that this mechanism will contribute to financing Iraq’s imports from India, especially medicines and materials. Food, which is estimated at about $3 billion link

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

Shybaby: Foreign currency deals bolster Iraqi banks amid no-confidence bid against central bank governor

Iraq's Central Bank (ICB) struck deals with foreign nations to support Iraqi private banks in foreign currencies, coinciding with lawmakers' no-confidence efforts against ICB's governor amid currency pressure from the US dollar.

ICB and US officials have reached a deal to strengthen the reserves of 10 Iraqi banks with the US dollar after detailed discussions in Abu Dhabi, the state-run Iraqi News Agency reported on Sunday, 12 November, citing governmental sources within the meetings.

"After recent discussions between the Iraqi Central Bank and American representatives, ten banks can now strengthen their reserves in US dollars—five through Citi Bank and five via JP Morgan," INA reported.

Iraq imports almost 95 of its needs through foreign trade using foreign currencies.

"Furthermore, the number of banks allowed to enhance their reserves in the Chinese Yuan through the Singapore Development Bank will increase to 13 banks. Two banks have already fortified their accounts in Indian Rupees with the Singapore Development Bank," the agency added.

It also clarified that several developments have unfolded in banking collaboration between Iraq and other countries; notably, issues with rejected transfers have been resolved. It also revealed a promising mechanism to boost balances in Emirati Dirhams for Iraqi banks is "imminent".

ICB also makes serious negotiations to enhance Iraqi bank balances in Euros, and more banks are reinforcing their balances in the Chinese Yuan and Indian Rupees for Iraqi banks, signalling a strategic move to finance imports, especially in pharmaceuticals and food items.

ICB recently decided that Iraqi private banks can import foreign currencies via commercial flights, a controversial step that backfired on its governor, as Iraqi lawmakers and legal experts considered it unconstitutional.

Al-Alaq is facing a parliamentary motion to remove him from his position due to the decreasing value of the Iraqi dinar in exchange for the US dollar in the parallel markets.

Since assuming office, economic experts believe that the ICB governor has failed to resolve the devaluation of the ID in exchange for the dollar crisis despite measures taken since his appointment.

Iraq's cabinet approved a currency revaluation on 7 February and set the exchange rate at 1,300 dinars per US dollar. The Central Bank of Iraq (CBI) also imposed several measures to boost the dinar and prevent the outflow of US dollars outside the country, especially to Iran and Syria, which are under US sanctions.

Despite the official rate of the dinar, a US dollar still sold at around 1,620 in the currency exchange markets. The sharp drop in the dinar's value plunged local markets into further recession, with prices of every essential goods soaring daily.

Iraq secures foreign currency deals to enhance trade (newarab.com)

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

Tishwash: The President of the Republic: The government is determined to confront and curb corruption

The President of the Republic, Abdul Latif Jamal Rashid, confirmed that the government is determined to confront and curb corruption and proceed with the reform process, while urging Saudi businessmen to invest in the encouraging opportunities in Iraq and enter the Iraqi market.

The Media Office of the President of the Republic stated in a statement received by the Iraqi News Agency (INA), that “President of the Republic, Abdul Latif Jamal Rashid, met today, Sunday, with the Saudi Minister of Commerce, Chairman of the Saudi-Iraqi Coordination Council, Majid Al-Qasabi, and a group of Saudi businessmen.”

During the meeting, according to the statement, the President stressed the importance of cooperation and coordination between Iraq and Saudi Arabia in the commercial, economic, industrial, energy and environmental fields, and benefiting from the expertise, experiences and capabilities of the two countries.

The President of the Republic pointed to the depth of relations between the two countries, and the religious, national, social and cultural ties between the two peoples, praising Saudi Arabia’s role in the region and its keeping pace with the development and progress the world is witnessing.

The President reviewed the complex and difficult circumstances that Iraq has experienced over the past years, including wars, sanctions, and terrorism, and the major effects they had on infrastructure and services, indicating that “today the country is witnessing a different reality in terms of security stability, service provision, and the start of strategic and investment projects.”

He added,“ The recent elections resulted in the formation of a government that represents all Iraqis, as it developed an important program that made it one of its priorities to establish security and stability in the country, and the government is determined today to confront and curb corruption and proceed with the reform process.” The President urged Saudi businessmen to invest in the encouraging opportunities in Iraq and enter into
... The Iraqi market, pointing out that “the government is determined to provide facilities to investors and businessmen in order to encourage them and benefit from investment opportunities in Iraq.”

In turn, the Saudi minister affirmed the Kingdom’s keenness to maintain and develop relations between the two countries, and expand the horizons of cooperation to serve common interests, pointing to social ties. And the historical link between the Iraqi and Saudi peoples.

He added, “Businessmen in Saudi Arabia, through the Saudi-Iraqi Coordination Council, are making unremitting efforts to overcome some of the procedures, and there is communication and meetings held between Iraqi and Saudi businessmen in order to enhance cooperation between the two sides, expressing his aspiration to develop trade exchange.” "And creating a true partnership that contributes to the progress and prosperity of the two countries."

The Ambassador of the Republic of Iraq to Saudi Arabia, Safia Al-Suhail, expressed her thanks to His Excellency the President for the meeting and his keenness and interest in developing the commonalities between the two countries, stressing that “Iraqi-Saudi relations have witnessed a tangible development, which reflects the will of the two countries and their serious desire to build distinguished relations that serve the two brotherly peoples and the peoples of the region.”

The meeting was attended by His Excellency Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, and Member of Parliament, Jabbar Freih Al-Kinani. link

Mot: ... Say - WHAT!!!

Puddledpnw: Wiley E Coyote

DINARRECAPS8 11/13/23 DINARRECAPS8 11/13/23

Iraqi News Highlights and Points to Ponder Monday AM 11-13-23

Anti-Corruption Commission: Arrest Of Major Figures Involved In Manipulating Exchange Rates

November 13, 2023 Baghdad/Al-Masala Al-Hadath: The head of the supporting team of the Supreme Anti-Corruption Commission, Abu Ali Al-Basri, revealed on Monday that large corruption files had been opened, and that no one would protect those manipulating the dollar exchange rates.

Al-Basri said in a statement followed by Al-Masala, “The Anti-Corruption Committee has large operations in the governorates of Baghdad, Basra, Salah al-Din, and Anbar, as well as other operations in various places.”

Iraqi News Highlights and Points to Ponder Monday AM 11-13-23

Anti-Corruption Commission: Arrest Of Major Figures Involved In Manipulating Exchange Rates

He pointed out, “The committee’s work continues against those accused in corruption cases, and it was recently able to arrest 22 people involved in corruption operations,” noting, “The Anti-Corruption Committee is now carrying out major operations, some of which have affected people who had red lines on them.”

Al-Basri pointed out, “The Anti-Corruption Committee will not compliment anyone and has no red lines for anyone,” noting that “some files related to corruption need detailed study, and the committee has opened many files related to previous contracts concluded in state institutions.”

He continued, “The Supreme Anti-Corruption Committee also opened the file of financial inflation and it affected large people,” stressing, “There is coordination with Interpol regarding those wanted in corruption cases, and this includes even dual nationals.”

Al-Basri added, “The competent authorities have moved to a new stage in the file of combating corruption, preserving public money, returning stolen funds, and preventing any new transgression.”

He stated, “The government is serious about combating corruption and has modern treatment methods, including automating state institutions.”

Al-Basri explained, “The Supreme Committee has complete information about speculators at the exchange rate, and it will reach them, and no one will protect them,” pointing out, “Merchants who manipulate the exchange rate will be deprived of obtaining the dollar through the electronic platform at the Central Bank, and there is joint work and effort.” It is carried out by various state agencies, starting with the support team, various agencies, the judiciary, and the Integrity Commission.”

He stated, “There is a major campaign to monitor the market and illicit sales, and the supporting agency was able to arrest major figures who were involved,” noting, “The process of obtaining the dollar and foreign trade has exceeded 90% through the electronic platform and that things are moving in the right direction.”

He stressed that “the state provides great support for many goods and also provides many facilities to merchants,” explaining that “the inflation index has decreased in Iraq compared to many countries, including neighboring countries.” https://almasalah.com/archives/72967

Iraq Plans To “Neglect The US Dollar” And Parliament Proposes “Diversifying Foreign Currency Baskets”

Baghdad today - Baghdad The House of Representatives Finance Committee said today, Monday (November 13, 2023), that there is a necessary and important need to diversify the basket of foreign currencies in Iraq and not rely on the US dollar in commercial transactions.

He added, "It was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via JP Morgan Bank," noting that "the problems related to the rejected transfers were resolved, and it was agreed that the rejection of transfers should be based on strong reasons."

The source also reported that bank accounts had begun to be opened in Indian rupees for a number of Iraqi banks at the same correspondent, the Singapore Development Bank (New Delhi branch), and operations to enhance the balance of two Iraqi banks had actually taken place as a first stage, and it is expected that this mechanism will contribute to financing Iraq’s imports from India, especially medicines and materials. Food, which is estimated at about $3 billion. LINK

An Economist "Limits" The Solution To The Exchange Rate Problem To One Condition: It Will Not Be Solved Without It

Baghdad today – Baghdad Economist Nabil Al-Marsoumi confirmed in a blog post on Facebook, followed by “Baghdad Today”, today, Sunday (November 12, 2023), that the exchange rate crisis in Iraq cannot be solved without solving the problem of financing trade with Iran.

While exchange rates continue to rise by about (30 points) at least from the official rate decided by the Central Bank, which decided to raise the value of the official exchange rate of the dinar against the dollar by 10 percent in a measure aimed at reducing the decline in the value of the currency that accompanied the adoption of more regulations. Strictness regarding financial transfers outside the country.

The government then agreed to the Central Bank’s proposal to raise the value of the exchange rate from about 1,470 dinars to 1,300 dinars per dollar, which had a clear impact on the exchange market at that time by reducing prices that reached the level of 1,700 dinars in the parallel market.

Earlier, an Iranian official revealed that Baghdad was moving to propose dealing with Tehran in exchanges in the Iraqi dinar instead of the dollar or other foreign currencies.

The commercial advisor to the Iranian embassy in Iraq, Abdul Amir Rabihawi, said at the meeting of the Joint Iranian-Iraqi Chamber, which was held early last July, that this proposal would be in Iran’s interest, especially in view of “the sanctions on Tehran,” noting that this means implementing all exchanges between men. Business in dinars instead of dollars.

Economists believe that “making an exchange with the Iraqi dinar instead of the dollar supports the Iraqi national currency, and that this matter may also have a political message from Tehran to the United States, that dealing in the dollar can be easily abandoned, and it may involve risks that the Iraqi dinar will be exchanged by Iranians at weak prices lead to a collapse in the exchange rate of the Iraqi national currency against other currencies.

Also, “the idea of using local currencies in trade exchange between Iraq and Iran was an idea put forward by the Federal Reserve in its meetings with officials, and it is applicable despite its difficulty, and it is closely related to Iraqi payments related to the import of electricity and gas, as it was proposed that they be placed” in an account in the bank. The Central Bank of Iraq, to be used to finance purchases and imports related to the humanitarian aspect that Iran is allowed to import, but the trade balance between Iraq and Iran tends in favor of Tehran at about 10 billion dollars annually.

Despite the measures taken by the government to prevent currency speculation, experts and specialists confirmed that “the solutions did not address the structural defect in the economy, as the commercial sector was not reorganized, and the banking system did not fully comply with international standards and the Federal Reserve Bank (the US central bank) in transfer operations.” which is conducted daily.

Also, "the levels of transfers that take place daily are still high and not commensurate with the size of the Iraqi economy, which exceed 200 to 300 million dollars on some days."

On the other hand, “some merchants are complaining about the delay in executing their financial transfers, which has resulted in financial burdens, which the Central Bank’s procedures have not addressed. Therefore, many of them have returned to buying dollars from parallel markets, even if they are at prices more expensive than the banks.”

Iraqi banks must now manage these transfers through the “SWIFT” electronic platform, which is synonymous with more stringent monitoring of transactions, especially by the US Federal Reserve, which rejects any transfer deemed suspicious.

Iraqi banks must currently register “their dollar transfers on an electronic platform, which checks the requests... and the Federal Reserve examines them, and if it has doubts, it stops the transfer.”

With the beginning of the implementation of the electronic system, the Federal Reserve rejected 80 percent of requests for financial transfers to Iraqi banks against the backdrop of doubts related to the final destination of those amounts being transferred.

Source: Baghdad Al-Youm + Agencies LINK

A Representative Talks About Several Reasons Behind The Dollar Crisis And Identifies The “Most Dangerous” Of Them.

Baghdad today – Baghdad Today, Sunday (November 12, 2023), the representative in the Iraqi Parliament, Muhammad Al-Baldawi, considered that there are several reasons behind the dollar crisis in Iraq, but the most prominent of them is the American prevention of financing the Central Bank of Iraq with all its dollar needs.

Al-Baldawi said in an interview with “Baghdad Today” that “the rise in the dollar exchange rate in the parallel market has multiple dimensions, but the most important reason for it is America’s deliberate failure to disburse Iraq’s dollar dues and deliberately delaying them. That is, we are facing direct intervention by Washington in a financial file accompanied by threats.” Imposing sanctions on the central bank.

He added, "All that is happening are means of pressure adopted by the White House towards Iraq in order to achieve several goals, the most prominent of which is making Baghdad a prisoner of its plans in the region."

He pointed out that "America must realize that what it does in Iraq and other countries will ultimately reflect on it, and trying to exploit the economic dimension to harm countries will not achieve anything, especially since world opinion has become dissatisfied with its positions, especially in the recent Gaza events, which provided a cover for the Zionist entity to exterminate an entire people." With American-made missiles.

In contrast to this opinion, the Central Bank administration reiterates from time to time that the dollar is available and there is no shortage of it, and that what is happening is the presence of suspicious trades and operations to obtain the dollar and smuggle it to other countries.

The Central Bank confirms that it is able to meet all “transparent and legitimate” requests for the dollar, whether for import or cash requests, provided that they are legitimate and reveal the ultimate beneficiary to whom this dollar will reach.

However, observers believe that this is relatively inconsistent with the recent trend of the Central Bank to allow banks to import foreign currency from abroad, meaning that it suggests that the Central Bank is facing difficulty in obtaining dollars from the US Federal Bank. LINK

Al-Sudani And Zidane Discuss The Judiciary’s Efforts To Hold Foreign Currency Speculators Accountable

Political | Baghdad - Mawazine News Prime Minister Muhammad Shiaa Al-Sudani discussed with the Chairman of the Supreme Judicial Council, Faiq Zaidan, the efforts made by the Iraqi judiciary in holding accountable those who manipulate the people’s livelihood and foreign currency speculators.

The Prime Minister’s Media Office stated in a statement received by Mawazine News, that “Prime Minister Muhammad Shiaa Al-Sudani met this Sunday evening with the President of the Supreme Judicial Council, Faiq Zaidan, and during the meeting, a number of files and judicial procedures taken for the sake of sovereignty were discussed.” law and enhancing security and stability in the country.”

He added, "The two sides also discussed the importance of strengthening the efforts made by the Iraqi judiciary in holding accountable those who manipulate the people's livelihood and foreign currency speculators, with the aim of destabilizing the market, affecting the living conditions of citizens, and disrupting government plans to achieve economic and financial reform."

https://www.mawazin.net/Details.aspx?jimare=237686

Provoking Points To Ponder:

Disappointment to a noble soul is what cold water is to burning metal; it strengthens, tempers, intensifies, but never destroys it -- Eliza Tabor

Man must be disappointed with the lesser things of life before he can comprehend the full value of the greater -- Edward G Bulwer-Lytton

Doubt -- There are two ways to slide easily through life: to believe everything or to doubt everything; both ways save us from thinking -- Alfred Korzybski

Dinar Recaps 20 11/12/23 Dinar Recaps 20 11/12/23

MilitiaMan: Iraq Dinar - Revalue- Central Bank of Iraq - US FED - Ease of Forex Transfers

Iraq Dinar - Revalue- Central Bank of Iraq - US FED - Ease of Forex Transfers

MilitiaMan and Crew: 11-12-2023

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

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

Iraq Dinar - Revalue- Central Bank of Iraq - US FED - Ease of Forex Transfers

MilitiaMan and Crew: 11-12-2023

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=DsfEfmhQ-bU

DINARRECAPS8 11/12/23 DINARRECAPS8 11/12/23

Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23

Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23

Good evening Dinar Recaps,

The American Financial System: US

1. Delinquent commercial real estate loans at US banks have hit their highest level in a decade.

2. US bank stocks have collapsed to all-time lows when measured against the S&P 500 index.

3. Jamie Dimon and his family will sell $141 million of JPMorgan stock in 2024.

4. US banks are sitting on an estimated $650 billion in unrealized losses on their bond holdings.

Goldilocks' Comments and Global Economic News Sunday Evening 11-12-23

Good evening Dinar Recaps,

5. The 60+ days delinquency rate of the subprime-backed ABS that Fitch tracks rose to 6.1% in September... this represents a RECORD.

These are the facts.

And sometimes the facts are served cold.

Read: https://x.com/goldtelegraph_/status/1723449486381605230?s=46

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This has been a great year for fans of gold-based money. As part of their migration away from the fiat dollar-based international financial system, Russia has reportedly introduced widespread “gold-based checking accounts” at major commercial banks — a simple and effective form of “digital gold” — while the government of India has begun issuing gold-based government bonds.

International megabank HSBCHBA 0.00% just said that it is launching a “tokenized gold” platform, making gold-based transactions possible among HSBC’s many clients worldwide. Of course there is no evidence that the Federal Reserve is going to jump on this bandwagon anytime soon.

However, at the State level, many US States — actually, most of them — are tiptoeing toward creating an alternative gold-based currency platform.

https://www.forbes.com/sites/nathanlewis/2023/11/07/us-states-leading-the-move-to-a-golden-dollar/

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On January 20, 2024, the Global Gold Monetary Fund will launch its gold-backed currency in the Philippines. (See link below) They have invited other countries to do the same.

Many countries have already started this process including the United States on the state level. It is a movement that is growing and rapidly becoming an alternative to the current monetary system.

At this time, the Philippines are expected to be done with their revisions and legislation process by the end of the year.

The Philippines have created what is called a Sovereign Wealth Fund capable of being backed by precious metals, and they are expected to be fully operational by the end of this year.

© Goldilocks

ChannelNewsAsia Link
ManiliaTimes Link

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Ethereum Insider Ready For Battle: ETH Founders’ Fraud Proof Coming In 4-5 Days

https://bitcoinist.com/ethereum-insider-eth-founders-fraud/

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Exporters to be able to exchange currencies through foreign brokers

KoreaJoongAngDaily Link

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Abu Dhabi Finance Week (ADFW) 2023, set to run from 27 to 30 November, will host an impressive assembly of financial leaders, boasting a collective $27trillion in assets under management.

The four-day event will encompass over 40 events and more than 180 sessions, drawing in over 10,000 attendees from 3,500 companies worldwide.

Among the notable participants are CEOs from trillion-dollar asset management firms including Franklin Templeton and State Street, investor Ray Dalio, leaders of sovereign wealth funds, and top executives from global financial institutions such as Goldman Sachs, Morgan Stanley, and BNY Mellon.

https://thefintechtimes.com/adfw-2023-finance-giants-convene-with-27trillion-in-assets/

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JPMorgan is giving institutional clients more control over payments via JPM Coin — marking the company’s latest blockchain-related milestone.

Its new programmable payments offering is a feature for blockchain-based accounts on the JPM Coin System, a permissioned payment rail and deposit account ledger letting clients transfer dollars within the system.

Programmability lets clients place rules for funding a bank account, for example — or set parameters for executing payments based on margin calls, asset delivery or meeting contract requirements.

“Blockchain technology is the ideal infrastructure to which programmable payments can be applied as it enables rules and bank accounts to be integrated in a native manner, enabling cases including dynamic direct debits and multi-party escrow accounts,” a spokesperson told Blockworks in an email.

JPMorgan’s Onyx Digital Assets network — launched in 2020 — enables the tokenization of traditional assets, such as US Treasurys and money-market products.

https://www.blockworks.co/news/jpmorgan-blockchain-payments

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Russia warns that the United States might soon run out of paper for printing dollars needed to service its debt.

The Central Bank of Russia is actively engaging in large-scale buy-and-sell operations in the foreign exchange market.

These operations involve selling tenders worth 0.8 billion Rubles ($8.7 million) and using resources from the National Wealth Fund.

https://www.cryptopolitan.com/russia-us-running-out-of-paper-for-dollar/

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We are entering a new era of value creation for banks.

The new digital economy is creating tokenized payments that will encroach upon the printing of paper money.

These adjustments in volume along with supplying new volumes for countries overseas printing their money in their own local currencies and digital tokens are creating shifts in the values of the banking system as we speak.

You could say that the whole Global Nation is in the midst of adjusting new settings or mechanisms to execute new volumes and new currency valuations.

Setting a price on each of these changes will be determined by the new values placed on our tokenized assets such as gold, silver, and other commodities as we shift from a stock-driven to a commodity-driven Market.

Look for the price of gold to begin moving to higher levels to engage these new prices and offer liquidity for them to be priced in real value.

© Goldilocks
TheBanker Link

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Exchange companies under categories ( A , B ) are kindly requested to contact the contact points below for the purpose of obtaining the main agency for your companies.

1. Western Union
Dina.mehanna@westernunion.com

2. Money Gram
Bahar D. Sahajwalla Tell: 202-3656763
Email: bsahajwalla@moneygram.com

3. Union pay
Haider Ali Raza Tell: 971 507 581469
Email: haideraza@unionpayinti.com

We hope that you will inform us of your procedures, what has been achieved, and our readiness to provide support in the advanced stages of submitting applications.

https://cbi.iq/news/view/2466

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DINARRECAPS8 11/12/23 DINARRECAPS8 11/12/23

Iraq Economic News and Points to Ponder Sunday Afternoon 11-12-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Achieves One Of The Basic Goals Of Monetary Policy In 2023

Samir Al-Nusairi Economy News – Baghdad The objectives of the monetary policy of the Central Bank are to achieve economic growth and stability, and one of its primary objectives is to reduce inflation rates and stabilize the prices of goods and services in very complex economic, security and political conditions in 2023 that the world is going through, especially the countries of the geographical region in which our country is affected negatively and positively.

Iraq Economic News and Points to Ponder Sunday Afternoon 11-12-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Achieves One Of The Basic Goals Of Monetary Policy In 2023

Our economy has suffered from these conditions for decades, and the reason is the rentier economy and the dependence of 93%,

as an average, of the general budget on oil, which constitutes approximately 60% of the gross domestic product, while the active economic sectors, which are agriculture, constitute 4.7% and industry do not exceed 2%.

These are indicators that led to the lack of Local production covers the consumption needs of citizens for food and other basic materials. Therefore, the reliance was almost entirely on imports for the private commercial sector and from various origins.

Successive governments were unable to control internal trade and regulate foreign trade, and control over illicit trade and unofficial border crossings was weak, which led to the impact of The monetary and commercial market, and the prices of food and essential items for citizens rose at high rates during the years 2021 and 2022.

Therefore, this indicator was the most prominent challenge facing monetary policy and directly affected the stability of the exchange rate, which led the Central Bank to take many measures in cooperation with the government in 2023 to regulate foreign trade.

And controlling external transfers and regularity in the global financial and banking system by developing the electronic platform and working to prepare and launch a new strategy for banking reform and classification in all its basic links at the level of internal and external banking transactions, the most prominent of which is securing the US dollar for large and registered merchants and for every merchant, regardless of his classification, at the official rate via The platform exclusively helped reduce prices for most food and essential items within balanced rates commensurate with their prices in the global commercial market, in the country of origin, and in the markets of most regional countries.

This was achieved through analyzing the indicators of the annual inflation rate for the year 2023, which was published by the Central Bank, in comparison with the annual inflation rates.

For the year 2022 achieved in Iraq and in the regional countries, as it is clear from official data that the annual inflation rate reached 3.7% in 2023 and 4.4% in 2022, and that most other countries with unstable economies have reached very high rates of inflation, reaching % in Turkey. 80.2%, in Sudan 117.4%, in Iran 40.0%, in the Arab Maghreb countries with relative economic stability in Tunisia, Algeria and Morocco 9.3%, 9.0% and 5.0% respectively, and in Egypt it reached 37.4% and ranged In the Gulf countries with stable and oil-rich economies, the range is between (2.4%-4.8%).

This confirms beyond doubt that the Central Bank’s strategy and procedures during this year achieved one of the basic goals of monetary policy, which is reducing the rate of inflation and maintaining the general level of commodity prices. And services, and he is currently working to achieve other goals, which are stabilizing the exchange rate and maintaining a foreign reserve covering the local currency in circulation and imports, which exceeded 100 billion dollars.

So, the economic results and outcomes confirm that the policies and procedures undertaken by the Central Bank this year have achieved an important goal of achieving stability in the monetary system, which is an important step in achieving the other goals of monetary policy.

Views 171 11/12/2023 - https://economy-news.net/content.php?id=37458

The Federal Court Obliges The Council Of Ministers And The Minister Of Finance To Submit The Final Accounts

Sunday 12, November 2023 | Political Number of readings: 221 Baghdad / NINA / The Federal Supreme Court (the highest judicial authority in the country) accepted a lawsuit submitted by the Secretary of the Communist Party in Iraq, in which he demanded that the Council of Ministers and the Ministry of Finance submit the final accounts for the implementation of the general budget.

Lawyer Zuhair Diaa El-Din, who was assigned, along with lawyer Salam Zuhair Diaa El-Din, by the Secretary of the Communist Party, Raed Fahmy, to carry out the duties of the lawsuit, in a statement today, “The Federal Court issued a decision obligating both the Council of Ministers and the Minister of Finance to submit the final accounts.”

The Federal Court issued its decision, in Case No. 190/Federal/2023, based on the implementation of the text of Article (62/First) of the Iraqi Constitution, which stipulates that “the Council of Ministers shall submit the general budget law and the final account to the House of Representatives for approval, in accordance with the provisions of Article (34). ) of the Financial Management Law No. (6) of 2019.

According to Diaa El-Din, this decision constitutes “a major achievement, given that the state’s final accounts reflect the processes of applying the general budget in accordance with the legal regulations, systems and financial instructions in force, to show the financial position of the state with its rights that must be collected, and the obligations that must be paid.”

This comes after the Council of Ministers and the Ministry of Finance hesitated to submit the final accounts that were last submitted for the year 2018, according to what was stated in the statement, which indicated that the accounts that are submitted are Years behind its timing,

the lawyer for the case expressed his hope, after the issuance of the decision, that the Council of Ministers and the Ministry of Finance would commit to completing and submitting the final accounts for the ending year with every budget that is referred to the House of Representatives for the purpose of approval, in implementation of the decision of the Federal Court, whose decisions are considered final and binding on all authorities based on the text Article (94) of the Constitution.

He also expressed his aspirations that the issuance of this decision would contribute in an effective way to preserving public money through monitoring disbursement operations, according to the statement.

On June 13, 2023, the House of Representatives voted on the country’s general financial budget for the years 2023, 2024, and 2025, after a difficult struggle that extended for months, and forced the holding of a series of parliamentary sessions. https://ninanews.com/Website/News/Details?key=1089489

Iraq Signs An Agreement With An International Bank To Finance A Power Plant Maintenance Project

Minister of Finance, Taif Sami, signed an agreement to finance the maintenance project loan for the Ministry of Electricity’s stations with JPM Bank, in partnership with (GE) General Electric International Inc., within the annual maintenance project (fifth phase, PUP5/B, at a total cost estimated at (257) million dollars. A Ministry statement

stated Finance: The signing of the agreement falls within the framework of the fourth axis of Article Two / State General Budget Law, and based on Cabinet Resolution No. (23588) of 2023, in which the Minister of Finance is empowered to sign the loan financing agreement for the project with JPM Bank and with the guarantee of the Export-Import Bank.

The Minister of Finance indicated during the signing ceremony, according to the statement, that “financing the project loan will contribute effectively to increasing the efficiency of electric power generation plants in Iraq, which will reflect in the interest of raising energy productivity and thus reducing the gap between supply and demand in energy and bridging The needs of citizens in all governorates.” https://www.radionawa.com/all-detail.aspx?jimare=3624

The Iraqi Stock Exchange Closed Up By 0.66%

Iraqi Stock Exchange Market Economy News – Baghdad The Iraqi Stock Exchange closed, on the first day of trading this week, up by 0.66%. Investors traded 301.7 million shares, worth 711.5 million dinars, through 389 transactions.

Shares of The United Bank rose by 14.29%, Mosul Bank by 5.88%, and Ishtar Hotels by 4.17%. Shares of agricultural products fell by 4.30%, Gulf Insurance by 4%, and Al Khazir Construction by 3.03%.

Views 38 11/12/2023 - https://economy-news.net/content.php?id=37474

A New Decline In The Dollar Exchange Rate In Iraq

Economy | 07:17 - 11/12/2023 Baghdad - Mawazine News The exchange rate of the dollar decreased today, Sunday, with the closure of the Al-Kifah and Al-Harithiya stock exchanges. The selling price of $100 was 162 thousand dinars. The purchase price was 161,500 thousand dinars per 100 dollars

https://www.mawazin.net/Details.aspx?jimare=237674

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

https://www.bondladyscorner.com/

Provoking Points to Ponder on FEAR for Living the Bold Life by Tess Marshall

15. All that ever holds somebody back, I think, is fear. For a minute I had fear. [Then] I went into the [dressing] room and shot my fear in the face… ~ Lady Gaga

16. Fear can force obedience, but it can never transform a heart. ~ Stacey Jay

17. I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when it has gone past I will turn the inner eye to see its path. Where the fear has gone there will be nothing. Only I will remain. ~ Frank Herbert

18. Expose yourself to your deepest fear; after that, fear has no power, and the fear of freedom shrinks and vanishes. You are free. ~ Jim Morrison

19. Ones fear of rejection is ones fear of love. ~ Alexandria Honey

20. I’m intimidated by the fear of being average. ~ Taylor Swift

21. We can easily forgive a child who is afraid of the dark; the real tragedy of life is when men are afraid of the light. ~ Plato

22. “What do you fear, lady?” [Aragorn] asked. “A cage,” [Éowyn] said. “To stay behind bars, until use and old age accept them, and all chance of doing great deeds is gone beyond recall or desire.” ~ J.R.R. Tolkien

23. Love is like jumping out of an airplane with no parachute. But there’s no need to be frightened, because that plane is still on the ground. ~ Jarod Kintz

24. There are two kinds of fears: rational and irrational – or in simpler terms, fears that make sense and fears that don’t. ~ Lemony Snicket

25. Men go to far greater lengths to avoid what they fear than to obtain what they desire. ~ Dan Brown