Iraq Economic News and Points to Ponder Sunday Evening 12-17-23

Iraq Economic News and Points to Ponder Sunday Evening 12-17-23

Tlm724 Administrator Bondlady’s Corner

Advisor To The Prime Minister: Iraq Today Has The Highest Levels Of Foreign Reserves In Its Financial History

Money  and business  Economy News – Baghdad  Advisor to the Prime Minister, Mazhar Saleh, confirmed that Iraq today has the highest levels of foreign reserves in its financial history.  Saleh defended the banking restrictions aimed at “verifying these transfers,” with the aim of reassuring “the international financial community and also for reasons related to Iraqi society: Do these transfers actually go to finance Iraq’s trade?”

He added, “What is happening has nothing to do with the strength of the Iraqi economy. Iraq today is at the highest levels of foreign reserves in its financial history.” Rather, “structural changes have occurred in issues of dealing with foreign currency.” Views 190 12/17/2023 - https://economy-news.net/content.php?id=38586

Central Bank Auction Records An Increase In Foreign Remittances By 90%
Economy   Sunday, December 17, 2023 3:38 PM  Baghdad/National News Center  The Central Bank announced today, Sunday, that foreign remittances increased by 90% during its daily auction, with total cash sales reaching 221 million, 898 thousand and 486 dollars.

The cash sales provided by the bank included under the ceiling of the basic price of 1,305 dinars to the dollar, for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars to the dollar for external transfers and cash transfers.

According to the report issued by the Central Bank, most of the sales were aimed at enhancing balances abroad in the form of transfers and credits, as these transfers reached 200 million 898 thousand and 486 dollars, indicating an increase of 90% compared to cash sales that amounted to 21 million. dollar.

The report indicated that five banks purchased cash dollars, while the number of banks that responded to requests to enhance balances abroad reached 20 banks. 43 exchange companies participated in the auction and brokered financial transactions.   https://nnciraq.com/241550/

Decrease In Exchange Rates In Baghdad.. 156 Thousand For Every 100 Dollars

Time: 12/17/2023 10:22:18 Read: 2,353 times  {Economic: Al-Furat News} The prices of the US dollar fell against the Iraqi dinar, today, Sunday, in the markets of the capital, Baghdad.  The prices were as follows..   The selling price was 156,750 dinars, while the purchase price was 154,750 dinars per 100 dollars.   LINK

Expert: The Behavioral Aspect Of Iraqi Merchants Is Similar To “Retail Trade.”

Time: 12/17/2023 19:42:41 Read: 1,625 times  {Economic: Al-Furat News} The economic expert, Salah Nouri, likened the behavioral aspect of Iraqi merchants to “retail trade.”

Nouri said {to Al-Furat News} that: “Iraqi merchants raise prices on all occasions, and the reason is due to the behavioral aspect of merchants {seizing opportunities} and obtaining the highest profit.”

He added, “The behavior of retail trade in Western countries is to reduce prices and then buy more and then make a profit.”  Nouri explained, “In Iraq, the buyer is exploited, and in Western countries, the buyer is attracted.”   LINK

A Fruitful Week In The Footsteps Of Financial And Banking Reform

Samir Al-Nusairi   The last week, ending on 12/14/2023, witnessed clear activity and efforts by the government and the Central Bank to implement the visions, drawn-up plans, and road map contained in the financial and banking reform methodology in Paragraph 7 and other relevant paragraphs of Axis 12 of the government curriculum and the new strategy that the Central Bank is working on for banking reform and financing.

 Foreign trade and reconsidering lending policies in accordance with building a national lending strategy that adopts new mechanisms for bank financing and a leadership initiative to develop the capabilities of young people and provide a wide scope for them to choose their small, medium and pioneering projects in all areas of development and technology.

In addition to confirming plans for digital transformation in the financial and banking sector and the transition to a cashless society, and a clear focus on electronic payment applications in all fields, with fruitful cooperation and high coordination with the relevant government agencies and with continuous support from the Prime Minister.

Therefore, this was achieved during the past week and in light of the negotiating visits to organize financing. Foreign trade conducted by delegations from the Central Bank, the government, and banks to Turkey and the United Arab Emirates, and meetings with the US Federal Reserve Bank, the US Treasury, the Turkish Central Bank, and the concerned authorities in Turkey are as follows:

First - Directly opening accounts for our banks in Turkish lira and euros, with support from the Central Bank of Iraq, in accordance with special arrangements and understandings.

Secondly - Initiating the strengthening of our banks’ balances in UAE dirhams and agreeing with First Abu Dhabi Bank on all arrangements in a clear manner.

Third - Establishing and strengthening our banks’ relationships with foreign correspondent banks and achieving compliance of the Iraqi banking system with international banking standards. And enhancing the advance balance in our bank accounts. This will lead to a gradual reduction in reliance on the electronic platform in 2024.

Fourth: Meeting the Central Bank’s requests for foreign exchange shipments for the year 2024.

Fifth - Emphasis on the electronic link between the Central Bank, customs and tax, and the automation of the customs and tax system.

In continuation of the Central Bank’s procedures to employ the strategy of financial inclusion and electronic payment, a decision was issued by its Board of Directors to establish the National Company for Electronic Payment Systems in Iraq.

Which will organize, develop and manage the national electronic payment systems with high efficiency, and the role of the Central Bank will be regulatory and supervisory over these systems, and implementation and development of the legal and operational framework will be necessary with the participation of all relevant authorities in accordance with the Central Bank Law.

This confirms that the Central Bank and the government are working in coordination and with continuous efforts to achieve financial and banking reform, which is the beginning of successful economic reform.

The central goal is to stabilize the exchange rate and not accept the existence of another price for trading on the black market that is higher than the official price. And to eliminate speculation in the black dollar and harm to the national economy. Views 83 12/17/2023 https://economy-news.net/content.php?id=38577

The Iraqi Stock Exchange Closed Up By 1.22%

Market   Economy News – Baghdad  The Iraqi Stock Exchange closed, on the first day of trading this week, up by 1.22%.  The session traded shares of 31 companies, with the number of shares traded reaching more than 1 billion shares, with a value of more than 1.3 billion dinars.

Shares of the Islamic Bank rose by 15%, followed by meat marketing by 13.2%, and tourism investments by 9.09%.  Sumer Bank shares fell by 7.1%, followed by agricultural products by 6.3%.

Views 47  Added 12/17/2023 - https://economy-news.net/content.php?id=38585

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

https://www.bondladyscorner.com/

Provoking Points To Ponder on Money

Be the business never so painful, you may have it done for money.   - Thomas Fuller

But then one is always excited by descriptions of money changing hands. It's much more fundamental than sex.   - Nigel Dennis

God makes, and apparel shapes: but it's money that finishes the man.   - Thomas Fuller

If a man has money, it is usually a sign too, that he knows how to take care of it; don't imagine his money is easy to get simply because he has plenty of it.   - Edgar Watson Howe

Interest works night and day in fair weather and in foul. It gnaws at a man's substance with invisible teeth.   - Henry Ward Beecher

Inflation is determined by money supply growth.   - Roger Bootle

Laws go where dollars please.  - Portuguese proverb

Money can't buy friends, but you can get a better class of enemy.   - Spike Milligan

Money is not an aphrodisiac: the desire it may kindle in a female eye is more for the cash than the carrier.   - Marya Marines

Money is the fruit of evil as often as the root of it.  - Henry Fielding

Money, like a queen, gives rank and beauty .   - Latin proverb

Riches are for spending.  - Francis Bacon

Famous Quotes and Authors, Famous Quotations for all Occasions

Iraqi News Highlights and Points to Ponder Sunday Afternoon 12-17-23

Iraqi News Highlights and Points to Ponder Sunday Afternoon 12-17-23

2024 Is It The Year Of Economic Rescue?

Economical  12/17/2023  Yasser Al-Metwally   A few days and a page of time has turned.

A year of attempts to correct the blurry picture of our national economy ends, to be followed by a year that we hope will be a year of rescue. Economic from the structural distortions that afflict the Iraqi economy.

The axiom that we economists rely on in our readings of the economic scene is summed up (that expectations are based on indicators) occurring on the ground regarding economic phenomena, whether negative or positive.

Hence, our expectations for the year 2024 are determined based on our assessment of the indicators for the year 2023.

The achievement achieved during the past year (2023) falls within a realistic assessment of attempts at economic reform that is acceptable compared to the size of The challenges and problems that the economy is suffering from are a positive indicator according to this perspective.

However, the ambition is to raise the economy to an average level during this specific period in order to keep pace with global development. In any case, it is an encouraging step.

One of the indicators that makes us somewhat optimistic is that the steps of the government team in this field are beginning to become clear, although they are very slow due to the size of the problems.

The launch of a number of service projects suggests that success awaits us in this important part of With hospital, school, road and bridge projects, some of which we hope to reap the fruits of in the first quarter of 2024, and thus our prediction is sound based on this indicator.

However, we have reservations regarding measures related to expanding the benefit from these projects ( Complementary procedures) so that the planning is 100 percent sound, so we evaluated the achieved achievement at an acceptable level.

To clarify this point of view, I cite an example: road, bridge and bridge projects had to be accompanied by a decision to stop the car import chaos, in order to The achievement will be of clear economic feasibility.

Otherwise, what is the benefit of these projects with the increasing number of cars? The problem will remain. We need to reconsider our trade policy in general, especially in luxury goods.

With regard to hospitals, it is necessary to prepare, develop and expand medical competencies in proportion to the expansion of hospitals and the rate of population increase. Schools also need to reconsider the educational level of students and the level of teaching staff. Thus,The government’s orientations appear to be positive and its plans are highly ambitious.

In this case, we need a national will and legislative capabilities to support these orientations. However, what is observed and to be honest is that the routine and complexities of the legislative authority sometimes stand as a stumbling block, for political reasons, unfortunately.

We need to be aware of the necessity of keeping political differences away from attempts to save the country’s economy, because the achieved achievement is counted for everyone afterward, first and foremost.

From this standpoint, we expect that it will be There is a glimmer of hope that the year 2024 will be the year of implementation of the promising government program in this important field and the basic part that we have discussed, provided that it is supported by the legislative authority so that the picture is complete and the national will is achieved, to build a sound homeland and a healthy economy.

https://alsabaah.iq/88915-.html

The Federal Court Rejects The Lawsuit To Disburse Basra’s Accumulated Petrodollar Funds

Economy News – Baghdad  The Federal Supreme Court rejected a lawsuit filed by Representative Mustafa Jabbar Sanad against the Minister of Finance, as he demanded the funds accumulated for Basra Governorate from the Petrodollar Law.

The court said that the lawsuit must be dismissed because the plaintiff’s interest condition is not met and because it does not fall within its jurisdiction.

The court indicated in the dismissal decision that “the jurisdiction of the Federal Court under Paragraph (Third) of Article (93) of the Constitution is limited to what is issued by the federal authorities and independent bodies and does not extend to ministries and other bodies. Therefore, the lawsuit must be dismissed by this body as well for lack of jurisdiction.” .

The petrodollar is the oil-producing governorate receiving a percentage of its sales, estimated at $5 for every barrel of oil produced there and $5 for every barrel of crude oil refined in its refineries.

Views 43  Added 12/17/2023 - https://economy-news.net/content.php?id=38572

The Government Is Spending 133 Trillion Dinars From The Current Year’s Budget And Revealing The Status Of Employees’ Salaries For The New Year

Economy ,   12/17/2023 09:33  , Number of readings: 162   Baghdad - Iraq today:  Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a press interview that “delaying the budget releases does not affect employees’ salaries,” indicating that “salaries have been fully secured.”

Al-Karaawi added, “About 130 trillion Iraqi dinars were spent out of the total budget amounting to 199 trillion dinars.”

A member of the Parliamentary Finance Committee pointed out that “delayed projects are among the government’s obligations, and will be proceeded with after disbursing all investment budget allocations.”

For his part, economic affairs specialist Safwan Qusay said in a press interview, “The cessation of oil exports in the Kurdistan region affected Iraqi revenues, but the rise in oil prices in recent months made up for the shortfall.”

Qusay added, “The monthly spending rate is approximately seven trillion dinars, while the budget was built on the basis of 15 trillion dinars, meaning there is an excess in spending.” The economic affairs specialist pointed out that “the money spent is 80% of the operating budget, and the financial abundance is rotated, given that the budget is for three years.”

 Earlier, the Parliamentary Finance Committee confirmed that entering the new year 2024 will not stop the disbursement of funds from the tripartite budget, given that it was approved for three years, while indicating that the committee is awaiting schedules from the government related to spending for the new year. The head of the committee, Atwan Al-Atwani, said in a statement to the official agency, last week, that "

The committee approved a tripartite government budget, and there is no interruption to spending and disbursement, given that the approved budget is for (3) years to ensure the continuation of spending, contracting, and the continuity of the government’s work throughout its years without faltering , as happened in the past, which led to the budget being delayed for more than 6 months.

He added, “With regard to the 2024 budget, the committee is communicating with the government while awaiting its schedules, and it is possible to complete the issue as soon as possible with the aim of sending it to the House of Representatives to vote on it “  LINK

The Exchange Rates Of The Dollar Against The Iraqi Dinar... Recorded A Decline, And This Is The List

Economy  2023-12-17 | 02:29  7,549 views  Al-Sumaria News – Economy  Al-Sumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets for Sunday, December 17, 2023.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 155,750 dinars for 100 dollars, while selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 156,750 dinars, while purchasing prices reached 154,750 dinars for every 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

About a year ago, specifically since the Central Bank began operating the electronic platform and international financial transfer system ““SWIFT” (SWIFT), the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the central bank to control the exchange rate in the parallel markets. LINK

Provoking Points to Ponder From a Sioux Indian Chief

For him, to sit or lie upon the ground is to be able to think more deeply and to feel more keenly. He can see more clearly into the mysteries of life and come closer in kinship to other lives about him.

Everything was possessed of personality, only differing from us in form. Knowledge was inherent in all things. The world was a library and its books were the stones, leaves, grass, brooks, and the birds and animals that shared, alike with us, the storms and blessings of earth.

We learned to do what only the student of nature learns, and that was to feel beauty. We never railed at the storms, the furious winds, and the biting frosts and snows. To do so intensified human futility, so whatever came we adjusted ourselves, by more effort and energy if necessary, but without complaint.

The old Lakota was wise. He knew that a man’s heart, away from nature, becomes hard; he knew that lack of respect for growing, living things soon led to lack of respect for humans, too. So he kept his children close to nature’s softening influence.

Civilization has been thrust upon me… and it has not added one whit to my love for truth, honesty, and generosity.

https://thunderbirdindigenousarts.com/2023/07/30/10-quotes-from-a-wise-oglala-sioux-chief/

"Tidbits From TNT" Sunday 12-17-2023

TNT:

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

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

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

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

Tishwash:  The government is spending 133 trillion dinars from the current year’s budget and revealing the status of employees’ salaries for the new year

Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a press interview that “delaying the budget releases does not affect employees’ salaries,” indicating that “salaries have been fully secured.”

Al-Karaawi added, “About 130 trillion Iraqi dinars were spent out of the total budget amounting to 199 trillion dinars.”

A member of the Parliamentary Finance Committee pointed out that “delayed projects are among the government’s obligations, and will be proceeded with after disbursing all investment budget allocations.”

For his part, economic affairs specialist Safwan Qusay said in a press interview, “The cessation of oil exports in the Kurdistan region affected Iraqi revenues, but the rise in oil prices in recent months made up for the shortfall.”

Qusay added, “The monthly spending rate is approximately seven trillion dinars, while the budget was built on the basis of 15 trillion dinars, meaning there is an excess in spending.”

The economic affairs specialist pointed out that “the money spent is 80% of the operating budget, and the financial abundance is rotated, given that the budget is for three years.”

Earlier, the Parliamentary Finance Committee confirmed that entering the new year 2024 will not stop the disbursement of funds from the tripartite budget, given that it was approved for three years, while indicating that the committee is awaiting schedules from the government related to spending for the new year.

The head of the committee, Atwan Al-Atwani, said in a statement to the official agency, last week, that " The committee approved a tripartite government budget, and there is no interruption to spending and disbursement, given that the approved budget is for (3) years to ensure the continuation of spending, contracting, and the continuity of the government’s work throughout its years without faltering, as happened in the past, which led to the budget being delayed for more than 6 months.

He added, “With regard to the 2024 budget, the committee is communicating with the government while awaiting its schedules, and it is possible to complete the issue as soon as possible with the aim of sending it to the House of Representatives to vote on it.”   link

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Tishwash:  The most prominent of which is Japan... a list of countries and banks that have a share of Iraq’s foreign debt

Iraq's total external debt reached $22.6 billion by the end of 2022, according to World Bank data.

According to the data, Japan came as Iraq's largest creditor with a share of 27%, while the share of the International Bank for Reconstruction and Development reached 18% of the total debt, while the share of the United States of America reached 7% of this external debt.  link

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CandyKisses:  A fruitful week in the footsteps of financial and banking reform

 Economy News-  

The last week ending on 14/12/2023 witnessed clear activity and efforts by the government and the Central Bank to implement the visions, plans drawn and the roadmap contained in the methodology of financial and banking reform in paragraph 7 and other relevant paragraphs of axis 12 of the government curriculum and the new strategy that the Central Bank is working on for banking reform and foreign trade financing and reconsidering lending policies in accordance with building a national lending strategy that adopts new mechanisms for bank financing and the Riyada initiative to develop the capabilities of young people and allow them to choose

Their small and medium enterprises are pioneering in all areas of development and technology.

In addition to confirming the plans for digital transformation in the financial and banking sector and moving to the community of criticism and focusing clearly on electronic payment applications in all fields and in fruitful cooperation and high coordination with government stakeholders and with the continuous support of the Prime Minister, so it was achieved during the past week and in light of the negotiating visits to organize foreign trade financing conducted by delegations from the Central Bank, the government and banks to Turkey and to the United Arab Emirates and meetings with the US Federal Reserve Bank and the Treasury The United States, the Central Bank of Turkey and the concerned authorities in Turkey include the following:

First: Starting to open accounts for our banks in Turkish lira and euros, with the strengthening of the Central Bank of Iraq in accordance with special arrangements and understandings.

Second: Starting to strengthen the balances of our banks in UAE dirhams and agreeing with First Abu Dhabi Bank on all arrangements clearly.

Third: Finding and strengthening the relations of our banks with foreign correspondent banks, achieving the compliance of the Iraqi banking system with international banking standards, and enhancing the advance balance in our bank accounts, and this will lead to a gradual reduction of dependence on the electronic platform in 2024.

Fourth: Meeting the Central Bank's requests for foreign exchange shipments for the year 2024.

Fifth: Emphasis on the electronic link between the Central Bank, customs, tax, and automation of the customs system and the tax system.

To complement the procedures of the Central Bank to employ the strategy of financial inclusion and electronic payment, the decision of its Board of Directors was issued to establish the National Company for Electronic Payment Systems in Iraq.

Which will regulate, develop and manage the national electronic payment systems with high efficiency, and that the role of the Central Bank will be regulatory and supervisory on these systems, and the implementation and development of the legal and operational framework will be initiated with the participation of all relevant authorities in accordance with the Central Bank Law.

This confirms that the Central Bank and the government are working in coordination and continuous efforts to achieve financial and banking reform, which is the beginning of the successful economic reform.

The central goal is to stabilize the exchange rate and not to accept the existence of another price for trading on the black market higher than the official rate, and to eliminate speculation in the black dollar and damage the national economy

Mot: .... sooo Gals! - What Say You!!!???

Mot: word to the Wise 

Iraq Economic News and Points to Ponder Saturday Evening 12-16-23

Iraq Economic News and Points to Ponder Saturday Evening 12-16-23

Tlm724 Administrator Bondlady’s Corner

Dollar Exchange Rates Stabilize With The Stock Market Closing

Market  Economy News – Baghdad  The prices of the US dollar against the Iraqi dinar closed stable in Baghdad, on Saturday, and rose slightly in Erbil with the closure of the stock market.

Dollar prices stabilized with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 155,900 Iraqi dinars for every 100 dollars, which are the same prices recorded this morning.

Selling prices in banking shops in local markets in Baghdad were stable, as the selling price reached 156,750 Iraqi dinars per 100 dollars, while the purchase price reached 154,750 dinars per 100 dollars.

In Erbil, the dollar recorded a slight increase, as the selling price reached 156,150 dinars per 100 dollars, and the purchase price reached 156,050 dinars per 100 dollars.

Views 35 12/16/2023 - https://economy-news.net/content.php?id=38555

Nechirvan Barzani Discusses With Plasschaert The Political And Security Situation In Iraq

The President of the Kurdistan Region discussed with the Special Representative of the Secretary-General of the United Nations in Iraq, The political and security situation, in addition to the Iraqi provincial council elections

According to a statement issued by the regional presidency, Nechirvan Barzani met with the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert, today, Saturday. I agree The two sides are of the opinion on “the importance of conducting and successful voting in council elections.” Governorates in Iraq, and discussed the relations between Erbil and Baghdad.

Barzani and Plasschaert stressed the importance of protecting security The operation is to take place in a safe and stable atmosphere, especially in the areas covered by Article 140 From the permanent Iraqi constitution.

Regarding relations between Erbil and Baghdad, values The two sides positively expressed the efforts and role of Muhammad Shiaa Al-Sudani, the Iraqi Prime Minister, "The hope of strengthening relations between the federal government and the Kurdistan Regional Government during The next stage is to resolve the outstanding problems between the two sides on the basis of the constitution.

As for “the latest developments in the complex situation in... The Middle East and its repercussions It was another focus of the meeting.   https://www.radionawa.com/all-detail.aspx?jimare=36627

Oil Prices Record Their First Weekly Gains In Two Months

Saturday 16, December 2023 10:48 | Economic Number of readings: 764   Baghdad /Nina/ Oil prices ended the session yesterday, Friday, with a slight decline after a volatile session during which prices fell by more than a dollar per barrel, in light of traders trying to absorb mixed signals related to... The size of the demand for oil next year.

Brent crude futures fell six cents, or 0.08%, to $76.55 per barrel upon settlement, while recording weekly gains of 0.9% in the first weekly rise in 8 weeks.

US West Texas Intermediate crude fell 15 cents, or 0.21%, to $71.43, while it increased by 0.8% during the week.

The market faltered earlier in the session after a survey of manufacturing activity issued by the Federal Reserve Bank of New York showed a decline in new orders for the third month, which may be an indication of weak demand for oil next year, according to “Reuters.” To receive more news, subscribe to our channel on Telegram These estimates for 2024 are less than half of the Organization of the Petroleum Exporting Countries (OPEC) expectations for demand growth of 2.25 million barrels per day.

The International Energy Agency said in a monthly report that global oil consumption will rise by 1.1 million barrels per day in 2024, an increase of 130,000 barrels per day from its previous expectations, and attributed this to improved demand expectations in the United States and lower oil prices. The decline in the dollar makes the oil in which it is denominated cheaper for buyers abroad.

The dollar fell to its lowest level in four months on Thursday after Powell's comments in which he expected to reduce borrowing costs in 2024. The dollar index remained largely stable yesterday, Friday.

Last Thursday, Federal Reserve Chairman Jerome Powell said that the cycle of raising interest rates with the aim of curbing inflation is likely to have ended, but he left the door open to the possibility of raising them again.

Traders were also affected by comments from New York Federal Reserve Bank President John Williams on Friday about hopes for lowering interest rates next year.

https://ninanews.com/Website/News/Details?key=1095596

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

https://www.bondladyscorner.com/

Provoking Points To Ponder  From- QUOTES BY KAHLIL GIBRAN

Work is love made visible. And if you cannot work with love but only with distaste, it is better that you should leave your work and sit at the gate of the temple and take alms of those who work with joy.

Yes, there is a Nirvanah; it is in leading your sheep to a green pasture, and in putting your child to sleep, and in writing the last line of your poem.

You give but little when you give of your possessions. It is when you give of yourself that you truly give.

Friendship is always a sweet responsibility, never an opportunity.

Doubt is a pain too lonely to know that faith is his twin brother.

You pray in your distress and in your need; would that you might also pray in the fullness of your joy and in your days of abundance.

The obvious is that which is never seen until someone expresses it simply.

Your daily life is your temple and your religion.

The biggest thing in today's sorrow is the memory of yesterday's joy

We choose our joys and sorrows long before we experience them.

Reason, ruling alone, is a force confining; and passion, unattended, is a flame that burns to its own destruction.

Much of your pain is the bitter potion by which the physician within you heals your sick self.

Your pain is the breaking of the shell that encloses your understanding

Ever has it been that love knows not its own depth until the hour of separation.

Life without love is like a tree without blossom and fruit.

The chemist who can extract from his heart's elements compassion, respect, longing, patience, regret, surprise, and forgiveness and compound them into one can create that atom which is called love.

Famous Quotes and Authors, Famous Quotations for all Occasions

Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23

 Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23

Good Evening Dinar Recaps,

"CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements"

This new data collection is expected to harmonize International Data swap transactions that take place on the Forex Market. It begins on January 1st, 2024.

It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross-border International trading.

The UPI is expected to adopt and use this new reporting rule on January 29th, 2024. The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.

Iraq, Vietnam, and Indonesia are three of several countries that will utilize this UPI interface.

It will allow several Banks across the world to exchange on the Forex Market under one digital mechanism.

© Goldilocks
CFTC Link 1
CFTC Link 2
CFTC Link 3
CFTC Link 4
CFTC Link 5

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Trade digitalization will boost Vietnam's connection on the global stage 

"Digitalization offers opportunities for a country to engage in international trade, benefiting micro, small, and medium-sized enterprises, although there will be regulatory challenges, according to HSBC."

Vietnam is finishing up their version of the QFS system to be interfaced with the overall system this month as their assets are supposed to be tokenized as of yesterday.

Vietnam already has Basel 3 compliance to support their markets through a banking system fully compliant in commodity backing.

These new opportunities and new demands to move into the international world will begin creating price pressures on their currency going forward.

© Goldilocks

VnExpress International Link

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BRICS alliance is set to expand with 14 more countries expressing interest in joining.

This expansion represents a shift in global economic alliances, challenging traditional power structures.

The potential addition of new members indicates BRICS’s growing influence and the move towards a multipolar world order.

https://www.cryptopolitan.com/4-more-countries-lined-up-to-join-brics/

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BRICS Rises: A Changing Balance in Global Power?    Modern Diplomacy Link

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Yuan Growing in Use in Cross-Border Trade

The yuan is increasingly used to settle cross-border payments with China.

Indeed, the number of transactions between China and the rest of the world settled in yuan has grown by 24% in the first three quarters of this year alone.

The yuan now accounts for more than 50% of China’s global transactions for the first time, having dislodged the once-dominant U.S. dollar earlier this year.   The Kiplinger Letter Link

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AI will level the playing field for SMB warehouses

“Where we see a main change [in warehousing automation] happening next year and the next couple of years is that more mobile solutions are accessible through your phone or an app. You can bring automation and AI tools to warehouse companies that might not necessarily have the funding, time and resources to do a fully automated warehouse but still want to elevate their processes by providing warehouse automation functionality in their system to become more competitive.”

https://finance.yahoo.com/news/ai-level-playing-field-smb-170000383.html

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XRP To Unleash Trillions In Idle Liquidity & Simplify Global Transactions

https://youtube.com/shorts/6B8LZK_W8jI?feature=shared

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Global bank regulator tightens rules for inclusion in top stablecoin ranking

The standards sort stablecoins into Group 1b and Group 2

The Basel Committee proposed adjustments to banks’ exposure to crypto assets. Comments are open until March 24.

Group 1b crypto assets preferential regulatory treatment subject to existing capital framework.

Group 2 stablecoins face highly conservative capital treatment.

1b Stablecoins Appropriate composition of reserves and statistical tests to identify low-risk stablecoins.

Risk management framework to assess market, credit, liquidity, and concentration risk.

Stablecoins pegged to currencies reserves to include short-term maturities and high credit quality with a proven record of relative stability and sufficient liquidity for 'instant' redemption.

Banks to perform due diligence regularly to ensure adequate stabilization mechanisms and effectiveness.

S&P Global Ratings first assessment of 8 stablecoins this week Tether 'constrained',  Frax 'weak' USDC 'strong' assessment.

https://blockworks.co/news/basel-commitee-tightens-stablecoin-rules

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What will digital transformation look like in 2024?   FinTech Magazine Link

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BRICS to Make Major Announcement in 2024?   

https://watcher.guru/news/brics-to-make-major-announcement-in-2024

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Ripple has joined forces with BIS on a groundbreaking initiative to reshape the global FX market.

Project Mariana has sought to revolutionize FX trading using innovative tokenized financial systems.

Successful testing of wCBDCs has demonstrated the potential for cross-border FX transactions.

Read more on DailyCoin: https://dailycoin.com/ripple-bis-aim-transform-7-5-trillion-forex-market/

👆  Goldilocks pointed to this article

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India Proposes Local Currency Use in Trade with Indonesia  Jakarta Globe Link

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US to award BAE $35 million to supply chips for F-35

Big News Network Link

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Follow Goldilocks' Roadmap

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Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank

Statement of the Iraq Economic Contact Group of the G7, European Union and World Bank

By U.S. Embassy in Baghdad

December 2023

On December 12, the Iraq Economic Contact Group (IECG) held the final meeting of 2023, co-chaired by Italy and the United States. 

As friends and partners of Iraq, Canada, France, Germany, Italy, Japan, the European Union, the United Kingdom, the United States, and the World Bank commit to supporting Iraq in the implementation of a comprehensive and ambitious reform agenda, paving the way to sustainable and inclusive economic development.

The IECG is eager to strengthen its engagement with the Government of Iraq (GOI) through regular dialogue at both the political and technical level.  This engagement is crucial to streamline cooperation between the two sides, identify and support common goals, and support the GOI’s priority reform areas.  The IECG commends Prime Minister Mohammed Shiaa al-Sudani for appointing business and economics experts within his office and looks forward to collaborating with them.  

The IECG was encouraged by Prime Minister Sudani’s announcement of new economic reform initiatives throughout 2023 and the passing of a historic three-year budget that laid the foundation for implementation of the government’s reform agenda.  In October, Iraq gained membership to the European Bank of Reconstruction and Development (EBRD) – a move strongly supported by the IECG as the first step to unlocking new sources of investment and enhanced cooperation with other multilateral and bilateral financial facilities.  

In the past month, the government convened conferences on Public Private Partnerships (PPPs) and tax reform, including a new bank sector reform project with Rafidain Bank.  Further, the GOI recently announced the establishment of the Iraq Fund for Development (IFD) alongside the Development Road project, and the Prime Minister strengthened economic ties with regional partners.  The GOI’s efforts to expand the use of digital platforms for financial transactions, with electronic payment and other e-commerce mechanisms, represent important steps to minimize the informal economy and reduce opportunities for corruption.

Looking ahead to next year, the IECG welcomes further cooperation in support of Iraq’s economic and financial sector development, including Prime Minister Sudani’s policies to strengthen the dinar and oversee monetary policy.  Clear communication of new dinar policies during the transition period will help avoid adverse effects on Iraqi households and businesses as well as on development cooperation projects and foreign investments in Iraq. 

The IECG also stands ready to support Iraq’s next steps to becoming an EBRD Country of Operations, its journey toward World Trade Organization accession, and its potential partnership with the European Investment Bank (EIB).  EIB’s expertise in road, railroad, water and sanitation investments, climate action, environmental sustainability financing as well as urban transmission initiatives will accelerate key infrastructure measures and help facilitate a green transition. 

The IECG urges further attention in 2024 to address the deficit and public sector wage bill, measures that would improve fiscal resilience.  Timely budget execution will be critical to the GOI’s ability to sustain important infrastructure investment, particularly in expanding domestic power generation, distribution, and expansion of green energy.  Long-term sustainable economic development is contingent on a dedicated response to pressing climate and environmental challenges.  Sustained investment in water management and infrastructure is critical to counteract the debilitating impacts of climate change.

To accelerate private sector growth, the IECG encourages government action to identify and address the challenges faced by domestic and international business, including efforts to promote transparent and predictable regulations.  In this vein, we welcome further progress on the PPP, Companies, Industrial Investment, Customs, and Arbitration laws as well as timely implementation of the recommendations from the recent PPP and tax reform conferences. 

On January 1, Italy and the United States proudly hand over the IECG to incoming co-chairs France and the United Kingdom.  Under their leadership, the IECG will continue to support an ambitious reform agenda, promote sustainable economic development, and stand by Iraq’s side as a reliable friend and partner in 2024.

Ambassador, Economic Opportunity, Events, News, Speeches & Statements

https://iq.usembassy.gov/statement-of-the-iraq-economic-contact-group-of-the-g7/

"Tidbits From TNT" Saturday 12-16-2023

TNT:

CandyKisses:  Member of the parliamentary investment: an economic forum in Iraq attended by giant foreign companies

{Economic: Al-Furat News} A member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country's need for investment projects in economic development, agricultural and industrial fields, and health.

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

He pointed out that "the adoption of the Ministry of Industry for the Forum of Investment Partnerships in the presence of investors and giant foreign companies is a good step with the presence of the security, investment and environmental incubator."

CandyKisses:  Two people arrested for manipulating exchange rates through shell companies

Baghdad Today - Baghdad

Today, Friday (December 15, 2023), the General Directorate of Intelligence and Security announced the arrest of two defendants for manipulating exchange rates through shell companies.

A statement by the directorate, received by "Baghdad Today", said that "through careful field follow-up of speculators in exchange rate rates contrary to official instructions and after obtaining judicial approvals, the detachments of the Directorate of Intelligence and Security of Baghdad affiliated to the General Directorate of Intelligence and Security at the Ministry of Defense were able to adjust one of the fictitious companies in the Arsat area in Baghdad, which carries out internal and external remittance operations contrary to the instructions of the Central Bank of Iraq, which negatively affects the national economy and creates a crisis and currency price conflict."

He added, "Two defendants were arrested and were caught in possession of a sum of money amounting to one million US dollars, where the necessary measures were taken against them and referred to the competent authorities."

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

CandyKisses:  The Association of Banks announces the imminent death of the parallel dollar market

Baghdad - Iraq Today:

The Association of Iraqi Private Banks said that the battle with dollar speculators has reached its last round, and the so-called parallel dollar (black) began to die, and while praising the procedures of the Central Bank to regulate the movement of funds in order to achieve financial reform and the bank, it stressed that it will contribute to reclassifying banks, increasing their capital and raising the level of services provided to citizens.

Samir Al-Nasiri, economic and banking advisor to the Association, said in a press statement: "The Central Bank's procedures and efforts made since the beginning of 2023 and with the support of the government have borne fruit and began to give their results as planned, and the so-called parallel dollar (black) began to die and the speculators who deal with it were besieged to harm the national economy and currently the battle with them in the last round."

He added, "This is what was explained in detailed procedures and administrative, technical and negotiating steps with the US Federal Bank and the US Department of the Treasury, and the understandings on regulating foreign trade financing by approving the opening of accounts for Iraqi banks in US, Chinese, Emirati and Turkish correspondent banks to deal directly with them for foreign transfers in the currencies of these countries, which include the dollar, the euro, the Chinese yuan, the Indian rupee, the UAE dirham and the Turkish lira, leaving the electronic platform in 2024 and supplying dollars and currencies foreign banks into Iraq from Iraqi bank accounts with correspondent banks or abroad."

"Reaching agreements to open 40 accounts for Iraqi banks in correspondent banks for foreign trade," al-Nasiri said, noting that "the central bank's new strategy to reform the banking sector will adopt reclassifying banks and increasing their capital to the ceiling set by the central bank according to the specified timelines until the end of 2024, which will raise the capabilities of our banks to provide the best banking products and services to customers, which will reflect positively on the movement of the economy, investment, development and the transition to comprehensive digital transformation."

He added that "since the beginning of 2023, financial policies have been reviewed in accordance with a new vision for banking reform that complies with the requirements of the global financial system, and a new strategy has begun to be implemented with mechanisms based on studying and diagnosing the causes of imbalances and determining the roadmap, steps and executive procedures that have been and will be applied at the level of the Central Bank departments, banks, banking support bodies and government agencies related to comprehensive economic reform, as the Central Bank has previously issued new instructions for external transfers for the year 2023. And three procedural packages to facilitate and control the movement of circulation of foreign currency in the monetary and commercial market."

Al-Nasiri added that "the Central Bank issued in August of this year its important statement, in which it outlined its new strategy to organize foreign trade financing according to new foundations that move Iraq to the stage of regularity in the global financial system, in which it clarified the executive measures to control the stability of the exchange rate, and the most prominent of what is stated in it:

Adopting the electronic platform exclusively for foreign remittance transactions, controlling illegal trade through official and informal border crossings, and stopping trading and dollar transactions on the black market. Preventing all websites and media television channels from publishing exchange rates on the black market for violating the law, importers proving that all their imports were made through the platform at the official price, and the Customs Authority and the General Tax Authority implementing proposals and treatments for the entry of small traders to the platform duly, and this is in line with the government's initiative to launch the national project to control prohibited imports.

He continued, "As we are in the last days of 2023, the Central Bank's strategy for banking reform in all its axes has become clear features for the coming year 2024 and subsequent years, and it is an embodiment of what it set out in the roadmap that he explained in the roadmap that he explained in theWe are with the government in accordance with the provisions of the government curriculum in axis 12 (financial and banking reform) and paragraph 7 thereof, which is related to the development and empowerment of banks to contribute to development and investment."

He explained that "we can summarize here the plan of the Central Bank, which is currently working to implement it accurately and as follows: First:

Providing a stable financial system that lies in accompanying financial electronic systems.

Second: Commitment to establishing the rules of compliance, risk management, transparency and integrity of financial operations.

Third: The transition from the monetary economy to the digital economy and the so-called fourth revolution and the accompanying measures that have achieved a qualitative leap in dealing between the government and the Central Bank.

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

Fifth: Work to strengthen international relations, including the establishment of a network of relations with foreign correspondent banks.

Establishing Riyada Bank in line with the Prime Minister's initiative and redirecting work on initiatives to finance small and medium enterprises according to specific criteria.

Preparing and launching a strategy for financial inclusion and putting it into implementation in coordination with the relevant authorities.

Launching the national lending strategy based on the financial capabilities of banks in attracting deposits and investing them in providing the best banking products to customers and contributing to development.

Mot: It’s a process….

Mot: Wrapping Paper

MilitiaMan: IRAQ - G7 - World Bank - European Union - World Bank - IMF - International - WTO - Iraq Dinar Value

IRAQ - G7 - World Bank - European Union - World Bank - IMF - International - WTO - Iraq Dinar Value

MilitiaMan and Crew:  12-15-2023

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=XHtK_KlaDdI

Goldilocks' Comments and Global Economic News Friday Evening 12-15-23

 Goldilocks' Comments and Global Economic News Friday Evening 12-15-23

Good Evening Dinar Recaps,

I gave you an article this morning to help you get an idea of what still needs to happen on January 1st, 2024 regarding the setting of rates whether it be a RV or a float.  Nothing happens without support on a currency to justify a new rate. I hope these articles help you understand the process.

Having said all of this to you, we are moving into a tokenized asset-based economy that will influence new factors and new prices on every sector of the market including Forex.

At least we can say, we are on the anticipatory side of watching for something to happen at the beginning of next year. I would give you an opinion, but you already get a lot of that already.

Let's watch for the facts. We already know of three factors that will begin to change our new digital economy, especially the currency values:

* Interest rates being higher will strengthen our currencies.

* A real value placed on gold.

* And, tokenized assets based on real values in the commodity sector and utility tokens create supportive levels of demand to justify their values.

© Goldilocks
Investopedia Link
RBA Link

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Just a reminder, this room is for people who want to know what is going on behind the scenes inside the banking system as it happens.

We don't make guesses in this room. We make one simple promise. To give you as much of a clear picture as we can on what is happening in the banking system from real sources and real contacts that do not over-inflate the truth.

No one is getting paid for the information that comes into and from this room. It is a collective effort from the hearts of those who want you to know.

© Goldilocks

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SEC Meets With Blackrock, Fidelity, Franklin Templeton, and Grayscale to Discuss Their Spot Bitcoin ETF Applications       Regulation Bitcoin News

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USD Backed Stablecoin On XRP   https://youtu.be/LRoSGkvSyow?feature=shared

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Fnality launches DLT wholesale payment system  in UK - Ledger Insights - blockchain for enterprise

Ledger Insights Link

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2024: will this be the year of truly digital trade?  FinExtra Link

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12/15/2023 Salty spoke to Okie. He has fallen 6 times in the last 5 days. He laid on he floor for around 6 hours one time. He said his balance is bad and he feels dizzy all the time. PLEASE say a prayer for him.

We have so many in need and this time of the year is hard raising funds. If Okie can raise the funds he will do another stem cell treatment.      Okie Website Donation Link  

Thank you from the Seeds of Wisdom Community

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Follow Goldilocks' Roadmap

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Iraq Economic News and Points to Ponder Late Friday Evening 12-15-23

Iraq Economic News and Points to Ponder Late Friday Evening 12-15-23

Tlm724 Administrator Bondlady’s Corner

Oil Prices Rise 3 Percent Due To The Decline In The Dollar

Friday 15, December 2023 09:45 | Economic Number of readings: 468  Baghdad/NINA/ Oil prices rose, today, Friday, three percent at settlement, continuing their gains from the last session, supported by the decline of the dollar, and the International Energy Agency raised its expectations for demand for... Oil next year.

Brent crude futures rose $2.35, or 3.2 percent, to $76.61 per barrel upon settlement, and US West Texas Intermediate crude increased $2.11, or three percent, to $71.58.

The oil markets achieved positive results after they fell to their lowest levels in approximately six months during yesterday’s session.

The dollar fell to its lowest level in four months after the latest economic forecasts of the Federal Reserve (the US central bank) indicated that the cycle of raising interest rates has ended and lowering borrowing costs will occur in 2024.

The International Energy Agency said in a monthly report today: Global oil consumption will rise by 1.1 million barrels per day in 2024, an increase of 130 thousand barrels per day from its previous expectations, indicating improved expectations for the United States and lower oil prices./End 2

https://ninanews.com/Website/News/Details?key=1095439

The Presidency Of The Republic Announces Its Support For The Government’s Measures To Establish Security And Prevent The Targeting Of Diplomatic Missions

Friday 15, December 2023 12:00 | Wish Number of readings: 386  Baghdad/NINA/The Presidency of the Republic announced, today, Friday, its support for the government’s measures to establish security and prevent the targeting of diplomatic missions.

The Presidency's Media Department said in a statement: " The Presidency of the Republic declares its full support for the measures taken by the government to establish security and stability and prevent illegal actions and operations targeting diplomatic missions and Iraqi government institutions that aim to stabilize the country, violate Iraq’s sovereignty, and distort its image before the international community.

She added: “The Presidency of the Republic supports the security measures and plans taken recently, including holding accountable all security forces responsible for the security sector in the area where the attack occurred. We would like to clarify that the aforementioned presidential regiment has been under the command of the Third Brigade of the Federal Police since 2015.” End2

https://ninanews.com/Website/News/Details?key=1095450

Al-Rafidain Announces The Continuation Of Opening Bank Accounts And Issuing Electronic Cards

Friday 15, December 2023 09:29 | Economic Number of readings: 478  Baghdad/NINA/ The Rafidain Bank announced, today, Friday, the continuation of opening bank accounts and issuing electronic cards.

A statement from the bank stated, “The bank continues to open bank accounts and issue electronic cards as part of the plan to implement electronic payment and electronic collection of taxes.”/ End 2

https://ninanews.com/Website/News/Details?key=1095437

Iraq And Saudi Arabia Agree To Coordinate Positions And Support Anti-Corruption Projects

Time: 12/15/2023 16:03:10 Read: 468 times  {Local: Al-Furat News} The Integrity Commission announced the agreement of the delegations of the Republic of Iraq and the Kingdom of Saudi Arabia, on the sidelines of the tenth session of the states parties to the United Nations Convention against Corruption, to coordinate positions and support anti-corruption projects.

A statement by the Integrity Commission stated that “the Iraqi delegation represented by the head of the Federal Integrity Commission, Judge Haider Hanoun, discussed with the Saudi delegation headed by the head of the Oversight and Anti-Corruption Commission (Mazen bin Ibrahim Al-Kahmous) unification of positions and coordination between them regarding anti-corruption projects.” It is planned to be presented as part of the conference’s work.

During the meeting, Hanoun praised “the country assessment project presented by the Kingdom of Saudi Arabia,” Stressing that “the Iraqi delegation strongly supports the Kingdom’s proposals and projects included in the conference’s work and recommendations,” Pointing out that “Saudi decisions and their success are considered Iraq’s success, calling for consideration of presenting human rights standards in accordance with the principles and morals of Arab countries and the values ​​and ideals of Islam.”

Hanoun affirmed “the Republic of Iraq’s support for the Nazaha Global Initiative.” To measure corruption launched by the Kingdom of Saudi Arabia, which is one of the biggest challenges facing many countries, which is the lack of objective indicators to measure the progress that countries are making in the field of combating corruption," Stressing that “the evaluation must be objective, free of any impurities that could make it have a political character, and that it must be based on facts, numbers, and scientific data.”

For his part, the head of the Saudi Oversight and Anti-Corruption Authority expressed his happiness at strengthening and consolidating relations between Arab countries and the mutual endeavor to support the proposals and projects that emerge from them and the cooperation that he sensed from the Iraqi delegation, represented by the head of the authority, wishing the Republic of Iraq, its institutions and its people Development, prosperity, and progress in the field of combating corruption, stressing that the memorandum of understanding to be concluded between the Iraqi Federal Integrity Commission and the Saudi Oversight and Anti-Corruption Commission is in the final stages of preparation.

In a related context, the Chief of Integrity met with his Jordanian counterpart ( Muhannad Ali Ibrahim Hegazy) “During the meeting, they discussed cooperation mechanisms in combating corruption, recovering funds and defendants, removing obstacles to that, and emphasizing putting the final touches to the memorandum of understanding between the two parties. Its conclusion will be announced in the next month.   LINK

Member Of Parliamentary Investment: An Economic Forum In Iraq Attended By Giant Foreign Companies

Time: 12/15/2023 Read: 1,573 times  {Economic: Al-Furat News} Member of the Parliamentary Investment Committee, Asaad Al-Bazouni, stressed the country’s need for investment projects in economic development, agricultural, industrial, and health fields.

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

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

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

https://www.bondladyscorner.com/

Provoking Points To Ponder  From- QUOTES BY KAHLIL GIBRAN

If the other person injures you, you may forget the injury; but if you injure him you will always remember.

They deem me mad because I will not sell my days for gold; and I deem them mad because they think my days have a price.

The significance of a man is not in what he attains but rather in what he longs to attain.

The tiny flame that lights up the human heart is like a blazing torch that comes down from heaven to light up the paths of mankind. For in one soul are contained the hopes and feelings of all Mankind.

Let there be spaces in your togetherness.

No man can reveal to you aught but that which already lies half asleep in the dawning of your knowledge.

Goldilocks' Comments and Global Economic News Friday AM 12-15-23

 Goldilocks' Comments and Global Economic News Friday AM 12-15-23

Good Morning Dinar Recaps,

Iraq has completed all of their banking competencies required by the CBI in Iraq to meet International Banking Standards. And tomorrow, they are expected to finish their banking reforms with their managers per a recent article.

At this time, they will have two weeks to do logistics training with their employees to prepare them for working with International Exchange going forward and only using the Iraqi Dinar locally.

Iraq has signed a number of agreements around the world to begin trading beyond their borders, and they have exchanged currencies with several countries to enable them to move forward with exports and imports.

The article below is a confirmation regarding the completion of a year-long set of economic reforms. It celebrates the work that they have done to achieve International standing in the banking system.

© Goldilocks
https://cbi.iq/news/view/2486

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How Are International Exchange Rates Set?  Investopedia Link

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Exchange Rates and their Measurement | Explainer | Education   RBA Link

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Thank you Dinar Recaps --  www.DinarRecaps.com