Dinar Recaps 20 1/16/24 Dinar Recaps 20 1/16/24

MilitiaMan: CBI - Currency - Coins - WEF - "Restoring Confidence" - Iraq Dinar- International - Globalization

CBI - Currency - Coins - WEF - "Restoring Confidence" - Iraq Dinar- International - Globalization

MilitiaMan and Crew: 1-15-2024

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

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

CBI - Currency - Coins - WEF - "Restoring Confidence" - Iraq Dinar- International - Globalization

MilitiaMan and Crew: 1-15-2024

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=fVHkO6nWifY

DINARRECAPS8 1/15/24 DINARRECAPS8 1/15/24

Goldilocks' Comments and Global Economic News Monday Evening 1-15-24

Good Evening Dinar Recaps,

The New Development Bank, also known as the BRICS Bank, is getting ready to sell Bonds on the Global Markets. These "Maharaja Bonds" will be available to regular investors, governments, and financial institutions.

The above-mentioned BRICS Bonds will be available in local currencies and not the US dollar. These measures will give strength to the local currencies of the BRICS Nations boosting their local economies.

They are currently looking for an approval from regulatory authorities to move on these actions.

Several sectors of the US economy will be affected if these new banking protocols are approved. This new money will go to improve private sector projects among the BRICS system giving more purchasing power to their currencies.
© Goldilocks
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Goldilocks' Comments and Global Economic News Monday Evening 1-15-24

Good Evening Dinar Recaps,

👆The old Financial System. If you know how to play Monopoly, you will know the financial system we are moving out of is one that gets too expensive for anyone to live in and the winner is the one that owns it all and no one else does.

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Global payment technology provider Opus Technologies has launched FinGeniusAI Solutions, an open innovation platform aimed at fostering the adoption of AI-based solutions in the banking and payments industry. OpusTechGlobal Link

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"World Economic Forum Annual Meeting
DAVOS-KLOSTERS, SWITZERLAND
15–19 January 2024" | AA Link

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Supply and demand are becoming issues for Iraq as they have moved on to the International stage. This move has created fluctuations on the exchange rate of the Iraqi dinar, and they are currently looking at ways to stabilize their currency through economic tools that will bring them into alignment with other currencies.

This is why they are currently looking at measures of control to stabilize their exchange rate through the process of "deleting the zeros" and withdrawing cash mass from their citizens while transferring these monies to the banking system.

They're looking at other mechanisms to control the Iraqi dinar through interest rates, of which, we have talked about in this room. Interest rate control allows them to guide the inflow and outflow of the dinar.

Control of their oil supply and other economic factors of trade within Iraq is becoming increasingly evident and unnecessary. The ability for the Government to trade freely on an open market is an emerging theme of realization and of necessity. It will bring more prosperity to their local economy.

These new mechanism changes for Iraq are coming into play, and the emergence of a new economic system is beginning to create price pressures forging new ways of implementing their new economy.

© Goldilocks
https://www.non14.net/public/163518

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This is what happens to a currency when price pressures start to reveal themselves.

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Iraq is now in mainstream Traditional Banking and transitioning into a digital economy at the same time.

We will be watching both the digital economy and traditional banking system mechanisms join together through Quantum Technological networks going forward.

New prices will emerge from each of these areas of utility for the Iraqi dinar and form even Newer price patterns because of the gold that will be sprinkled into it through Basel 3.

© Goldilocks

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Iraqi Banking Announcement:
Instructions and standards for circulation and exchange of banknotes, and counting and sorting mechanisms. https://cbi.iq/news/view/2502

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"I Have a Dream" speech by Martin Luther King .Jr HD (subtitled)

https://youtu.be/vP4iY1TtS3s?feature=shared

~~~~~~~~~~

On this day of January the 15th, 2024, we stand upon a day known as a day whereby Martin Luther King Jr made his famous speech "I have a dream."

Today, we are at a crossroads and having to make another choice to stand together as a human race, collectively moving out of the bonds of slavery of an old Financial System and embarking upon a new day, a new revelation, a new road forged in the triumph of the human spirit daring to dream the impossible dream. As we cross over into a land where the landscape is paved with gold, let us do so with an unwavering spirit.

This new land is filled with creativity, opportunity, and a promise to take us all on a journey never seen before in history. To take this journey, it will require the entire human race to hold hands with one another no matter the color of our skin and reach out into a place where hands can no longer touch and find just ahead of us one reaching back from the Heavens itself.

Such is the case when we reach out into the place where Angels fear to tread and forge a path out of nothingness while literally creating new pathways into a future where faith, hope, and love are the new rules of the game.

Join with me today, as we take this journey as a Global Nation to discover what it is to be truly human through the Divine qualities of our being knowing no limits to what is possible and discovering along the way what we were intended to be since the beginning of time itself.

© Goldilocks

The dream continues...

~~~~~~~~~~

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DINARRECAPS8 1/15/24 DINARRECAPS8 1/15/24

Iraq Economic News and Points to Ponder Monday Evening 1-15-24

Tlm724 Administrator Bondlady’s Corner

Iraq Returns To The World Trade Organization 14 Years After Its Expulsion

Money and business Economy News _ Baghdad Iraq is preparing for a major change in the trade file with the countries of the world and is preparing to exceed the limits set for Iraqi goods, with its return to the World Trade Organization 14 years after it was expelled as a result of its failure to adhere to the organization’s meetings.

The head of the Kingdom of Saudi Arabia’s mission to the World Trade Organization/the Saudi Permanent Representative to the World Trade Organization and responsible for the file of Iraq’s accession to the World Trade Organization, Saqr al-Muqbel, visited Iraq today, Monday, and delivered a speech in which he reviewed the importance of joining the World Trade Organization.

Al-Muqbil said in a press conference followed by Al-Iqtisad News, “I find Iraq’s accession to be a serious message from Iraq to the whole world, that Iraq is continuing its path of engagement with the whole world,” adding: “I find myself among my loved ones and brothers to do everything we have for your participation.” “The Kingdom’s successful experience in joining the World Trade Organization.”

Iraq Economic News and Points to Ponder Monday Evening 1-15-24

Tlm724 Administrator Bondlady’s Corner

Iraq Returns To The World Trade Organization 14 Years After Its Expulsion

He explained, "The Kingdom joined the World Trade Organization in 2005, and our non-oil merchandise exports amounted to about 18 billion dollars, and exports have now reached 84 billion dollars with the world," noting that "the Kingdom's service exports alone amounted to about 11 billion dollars in 2005 and have now reached more than 34 billion dollars.

He pointed out that "these achievements depend on Iraq's signals to join and accelerate its pace to find Iraq in its usual position and as one of the largest economies in the Arab region and the Middle East."

For his part, the Iraqi Minister of Commerce, Atheer Al-Ghurairi, said, “Iraq is taking steps to return as a strong economic player by opening relations with Arab countries and all countries of the world,” noting that “today, within a year, we were able to finalize three files and submit them to the committee related to Iraq’s accession to the World Trade Organization.” global trade in goods and services.

He stated that "Iraq joined as an observer in the World Trade Organization in 2004, and in 2009 Iraq stopped meetings and reached the point of being removed from the organization, and last year 2023, and through continuous work on that and with the help of Saudi Arabia and the head of the Saudi mission in the organization, Iraq returned as an observer to the organization." Global trade, and we accomplished in one year the equivalent of more than 15 years’ work.”

Regarding the benefit of joining, Al-Ghurairi explained, “It means that the Iraqi economy enjoys any specifications enjoyed by the world’s economies, but this does not replace the necessity of internal reform.”

He stated that "opening the doors to Iraqi goods and trade exchange through global controls will protect Iraq from entering the global market with its weight in the event that it fulfills its requirements and that our production is international and not local," noting that "Iraqi goods are now not allowed to go outside certain borders, and joining is possible." To reach the farthest country in the world.”

181 views 01/15/2024 - https://economy-news.net/content.php?id=39453

The President Of The Republic Confirms Iraq's Keenness To Join The World Trade Organization

Economy News – Baghdad President Abdul Latif Jamal Rashid affirmed, on Monday, Iraq's keenness to join the World Trade Organization by achieving the required trade and economic standards.

The Presidency’s media office stated in a statement, seen by Al-Iqtisad News, that “The President of the Republic, Abdul Latif Jamal Rashid, received today, Monday, January 15, 2024, at Baghdad Palace, the Saudi ambassador to Iraq, Abdul Aziz Al-Shammari, and the representative of the Kingdom of Saudi Arabia to the World Trade Organization.” Saqr al-Muqbel, head of the team concerned with Iraq’s accession to the World Trade Organization, and the accompanying delegation.”

He added, "At the beginning of the meeting, the Saudi ambassador conveyed the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, and Crown Prince Mohammed bin Salman to the President and their wishes for the Iraqi people for further progress and prosperity, while His Excellency the Ambassador conveyed his greetings to the Custodian of the Two Holy Mosques." The Two Honours, and to the Crown Prince, and his wishes to the Saudi people for further prosperity and development.”

The President affirmed, according to the statement, “Iraq’s keenness to join the organization by achieving the commercial and economic standards required in this regard,” praising “the role of the Kingdom of Saudi Arabia in bringing viewpoints closer and pushing towards establishing stability and peace in the region.”

His Excellency also appreciated the efforts made by the team concerned with joining the organization. Iraq to the World Trade Organization and its meetings with the National Committee for the purpose of accelerating the completion of this file and in a way that contributes to the development of the trade system and achieving stability and sustainable development,” noting “the importance of benefiting from the experience of the Kingdom of Saudi Arabia in this aspect.”

He added, "He touched on the positive developments in Iraq, which have had a positive impact on the overall lives of Iraqis," adding that "the government has attached importance to establishing security and stability, developing economic activity, encouraging foreign investment in the country, and consolidating relations with neighboring countries and the world, and that Iraq was a member." Effective in most international organizations.

In turn, the Saudi ambassador affirmed the Kingdom’s keenness to support Iraq in international forums and stand by its side in enhancing security stability, development and progress in the economic and energy fields, noting that “Iraq is moving forward towards the process of reform, development and progress in various fields.”

For his part, Saqr Al-Muqbel reviewed the results of his meetings in Baghdad, which took place with the Iraqi National Committee for the Republic of Iraq’s accession to the World Trade Organization, and his satisfaction with the steps taken by Iraq in order to implement the required standards, and affirmed “his country’s support for Iraq’s accession to the international organization.”

The head of the concerned team stated that "Iraq's accession to the organization is a gain for the region and the world, and will contribute to developing and expanding the progress achieved in financial services and improving the foreign investment environment."

Views 47 01/15/2024 - https://economy-news.net/content.php?id=39462

Iraq Plans To Stop International Borrowing During The Current Year

Economy | 01/15/2024 Mawazine News - Baghdad, Advisor to the Prime Minister for Technical Affairs, Engineer Muhammad Al-Daraji, Chairman of the Committee for Reviewing Iraq’s Foreign Loans, revealed that the government seeks to stop loans that do not benefit the country.

Al-Daraji said, in a statement to (Al-Sabah) newspaper, followed by Mawazine News: “After 2003, Iraq entered a new wave of external loans and debts due to the decline in oil prices and the insufficient budget in most cases.”

He added, "There was clear confusion and differences in estimating the size of Iraq's new external debts due to the presence of other debts before 2003," noting that "the new debts must have a clear picture of them in order for appropriate measures to be taken in dealing with them in order to preserve the country's economy and its credit rating." "Globally."

Al-Daraji explained, “The loans are distributed among ministries and governorates in exchange for projects, and the task of the committee that was formed is to inventory the loans and find out which projects, ministries, or governorates have benefited from them and what their condition is,” indicating that “the debts entail interest that burdens Iraq and must be liquidated and final results must be reached in Knowing the size of the debt, how to repay it, and its value to the economy.”

The Prime Minister’s advisor for technical affairs said, “These debts may have been taken for certain reasons, but they do not contain any added value to the Iraqi economy, which makes us study the debts again and proceed with implementing the projects for which the debt was borrowed. If they are useless, they must be stopped.” And return the debts to improve Iraq’s financial position internationally.”

It is noteworthy that foreign loans to Iraq are estimated at 25 billion dollars, so the formation of this committee comes after these loans burdened the country during the past twenty years.

https://www.mawazin.net/Details.aspx?jimare=240431

Oil Prices Are Rising Due To The Possibility Of Supply Disruptions In The Middle East

Economy | 01/15/2024 Mawazine News / Baghdad.. Oil prices recorded an increase today, Monday, amid traders’ anticipation of a possible supply disruption in the Middle East.

Brent crude futures recorded an increase of 0.37% to $78.58 per barrel, while US West Texas Intermediate crude rose to $72.84 per barrel, and oil prices jumped more than two percent this week.

https://www.mawazin.net/Details.aspx?jimare=240426

The President Of The Republic: Iraq Is Moving Forward Towards The Process Of Reform, Development And Progress In Various Fields

Political | 01/15/2024 Mawazine News – Baghdad The President of the Republic, Abdul Latif Jamal Rashid, confirmed today, Monday, Iraq’s keenness to join the World Trade Organization by achieving the required trade and economic standards.

The Presidency’s media office stated in a statement received by Mawazine News that “His Excellency the President of the Republic, Abdul Latif Jamal Rashid, received today, Monday, January 15, 2024, at Baghdad Palace, the Saudi ambassador to Iraq, Abdul Aziz Al-Shammari, and the representative of the Kingdom of Saudi Arabia to the World Trade Organization, President The team concerned with Iraq’s accession to the WTO, Saqr al-Muqbel, and their accompanying delegation.”

He added, "His Excellency touched on the positive developments in Iraq, which have had a positive impact on the overall lives of Iraqis," adding that "the government has attached importance to consolidating security and stability, developing economic activity, encouraging foreign investment in the country, and consolidating relations with neighboring countries and the world, and that Iraq has been An active member in most international organizations.

In turn, the Saudi ambassador stressed the Kingdom’s keenness to support Iraq in international forums and stand by its side in enhancing security stability, development and progress in the economic and energy fields, noting that “Iraq is moving forward towards the process of reform, development and progress in various fields.”

For his part, Saqr Al-Muqbel reviewed The results of his meetings in Baghdad, which took place with the Iraqi National Committee for the Republic of Iraq’s accession to the World Trade Organization, and his satisfaction with the steps taken by Iraq in order to implement the required standards, stressing “his country’s support for Iraq’s accession to the international organization.”

The head of the concerned team stated that “Iraq’s accession to the organization is A gain for the region and the world, and will contribute to developing and expanding the progress achieved in financial services and improve the foreign investment environment.”

https://www.mawazin.net/Details.aspx?jimare=240450

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

The habits of a vigorous mind are formed in contending with difficulties. - Abigail Adams

A diamond is a chunk of coal that made good under pressure. - Anonymous

A clay pot sitting in the sun will always be a clay pot. It has to go through the white heat of the furnace to become porcelain. - Mildred W. Struven

It is the surmounting of difficulties that makes heroes. - Kossuth

http://famousquotesandauthors.com/topics/adversity_quotes.html

Famous Quotes and Authors, Famous Quotations for all Occasions-

Dinar Recaps 20 1/15/24 Dinar Recaps 20 1/15/24

"Iraq and WTO News" Posted by Tishwash at TNT 1-15-2024

TNT:

Tishwash: So are they in or not?

Iraq returns to the World Trade Organization 14 years after its expulsion

Iraq is preparing for a major change in the trade file with the countries of the world and is preparing to exceed the limits set for Iraqi goods, with its return to the World Trade Organization 14 years after it was expelled as a result of its failure to adhere to the organization’s meetings.

TNT:

Tishwash: So are they in or not?

Iraq returns to the World Trade Organization 14 years after its expulsion

He stated that "Iraq joined as an observer in the World Trade Organization in 2004, and in 2009 Iraq stopped meetings and reached the point of being removed from the organization, and last year 2023, through continuous work on that and with the help of Saudi Arabia and the head of the Saudi mission in the organization, Iraq returned as an observer to the organization." Global trade, and we accomplished in one year the equivalent of more than 15 years’ work.”

Regarding the benefit of joining, Al-Ghurairi explained, “It means that the Iraqi economy enjoys any specifications enjoyed by world economies, but this does not replace the necessity of internal reform.”

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

Tishwash: The President of the Republic to a Saudi delegation: Iraq is keen to join the World Trade Organization

The President of the Republic, Abdul Latif Jamal Rashid, received today, Monday, the Saudi Ambassador to Iraq, Abdul Aziz Al-Shammari, and the representative of the Kingdom of Saudi Arabia to the World Trade Organization, head of the team concerned with Iraq’s accession to the World Trade Organization, Saqr Al-Muqbel, and their accompanying delegation.

A statement from his office, a copy of which {Al-Furat News} received, stated: “At the beginning of the meeting, the Saudi ambassador conveyed the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, King of the Kingdom of Saudi Arabia, and Crown Prince Mohammed bin Salman to the president and their wishes to the Iraqi people for further progress and prosperity.” While Rashid conveyed to the ambassador his greetings to the Custodian of the Two Holy Mosques and to the Crown Prince, and his wishes to the Saudi people for further prosperity and development.

Irshid stressed, "Iraq's keenness to join the organization by achieving the commercial and economic standards required in this regard," praising "the role of the Kingdom of Saudi Arabia in bringing viewpoints closer and pushing towards establishing stability and peace in the region," praising "the efforts made by the team concerned with Iraq's accession to the WTO."

International and its meetings with the National Committee for the purpose of accelerating the completion of this file and in a way that contributes to the development of the trade system and the achievement of stability and sustainable development.

He pointed out "the importance of benefiting from the experience of the Kingdom of Saudi Arabia in this aspect," referring to "the positive developments in Iraq that have had a positive impact on the lives of Iraqis as a whole," stressing that "the government has attached importance to establishing security and stability, developing economic activity, and encouraging foreign investment in the country." And to consolidate relations with neighboring countries and the world,” noting that “Iraq was an active member in most international organizations.”

For his part, Saqr Al-Muqbel reviewed the results of his meetings in Baghdad, which took place with the Iraqi National Committee for the Republic of Iraq’s accession to the World Trade Organization, expressing his “satisfaction with the steps taken by Iraq in order to implement the required standards, and affirming his country’s support for Iraq’s accession to the World Trade Organization.”

Tishwash: The Minister of Commerce announces the completion of three files related to Iraq's accession to the World Trade Organization

The Minister of Commerce, Atheer Al-Ghurairi, announced today, Monday, the completion of three files related to Iraq’s accession to the World Trade Organization, while indicating that Iraq will be an influential player in the international economic system.

Al-Ghurairi said in a conference attended by the correspondent of the Iraqi News Agency (INA): “The visit of the head of the mission of the Kingdom of Saudi Arabia and the head of the team concerned with Iraq’s accession to the World Trade Organization, Ambassador Saqr Abdullah Al-Muqbel, to Iraq is important and is a serious expression and signals that Iraq is continuing with its obligations according to the platform.”

It is a solid government program whose steps are calculated through promising plans that have begun to bear fruit,” indicating “the importance of Iraq’s accession to the World Trade Organization, which comes through a working group in an international committee concerned with accession, which is the committee concerned with the accession of concerned countries to global trade, headed by the Ministry of Commerce and the head of the technical team is the ambassador.” “Known historically for seriousness, it is also a good sign of the development of relations and the sincerity of intentions of the

Kingdom of Saudi Arabia and its good initiatives as a people and government under the leadership of this team.”

He added, "The team will take real steps that will shorten the path to Iraq's accession to the World Trade Organization and benefit from the advantages offered by this accession. It will be part of the organized group to enjoy the privileges. It is also a solid step essential to building a solid Iraqi economy whose steps began with the government program and the ministerial approach and will be completed by the hands of the Iraqis and with the help of Iraqis." "Siblings."

He stated that "what the team accomplished within one year after Iraq joined the World Trade Organization as an observer in 2004, the meetings and work of this team continued until 2009, but since that year this file has been disrupted and we have reached the expulsion and suspension of observer status from the World Trade Organization. However, it is Within the government program and ministerial platform, Iraq will return to being a strong economic player, as well as an important and positive international political player, and to open relations with Arab countries and all countries of the world.”

He stated that "the team was able, within one year, to complete three files and submit them to the committee for final negotiation and approval, including those related to the file of trade in goods and services, as well as plant health and other files," pointing out that "with our selection to head the team, Saqr Abdullah Al-Muqbel, is that there is a new phase." "For this team to perform positively."

He stressed that "Iraq cannot be outside the international economic system, but rather it will be a player and influencer in it, and through reforms on the ground, the fruits of which our people will reap soon."

He stressed that "the signs of these measures and improving the business and investment environment will bring great benefit to our people and the economy of our country." link

DINARRECAPS8 1/15/24 DINARRECAPS8 1/15/24

Iraq Economic News and Points to Ponder Monday Afternoon 1-15-24

Tlm724 Administrator Bondlady’s Corner

Advisor To The Prime Minister: Electronic Payment Enhances Economic Development Efforts

Economical 01/15/2024 Baghdad: Hussein Thaghab The Executive Director of the Iraq Fund for Development, Muhammad Al-Najjar, said that the digital transformation that the country aspires to achieve represents the most important steps in the next stage, and an important axis of the development process that Iraq seeks.

He added to "Al-Sabah" that developing performance within the Iraqi labor market is extremely important and a prominent focus in achieving goals, and that the financial sector represents the size of the corner to make plans a reality, which requires the presence of an advanced financial sector that adopts advanced work mechanisms.

Al-Najjar explained that the presence of an advanced financial sector that relies on advanced financial transactions is an attractive element for specialized global efforts, especially since the Iraqi labor market is vast and accommodates great local and international efforts.

Iraq Economic News and Points to Ponder Monday Afternoon 1-15-24

Tlm724 Administrator Bondlady’s Corner

Advisor To The Prime Minister: Electronic Payment Enhances Economic Development Efforts

He explained that the shift towards electronic payment carries many positives that secure the reality of financial transactions in Iraq, pointing out that the clear interaction between beneficiaries and electronic payment leads to the spread of these transactions on a wider scale in the country.

Executive Director of the Association of Private Banks, Ali Tariq, confirmed that there is a clear and tangible increase in the volume of daily payments through electronic payment cards, whether in government payments or the private sector, and that

the current year will witness the launch of the Iraqi National Company for the Management of Payment Systems, which contributes to facilitating government payments via the Internet.

There will be a wider spread of payment systems throughout institutions and the provision of broader programs to stimulate the use of electronic payment.

He said that the directions of the government and the Central Bank provide a historic opportunity to stimulate and use electronic payment, as these trends witness a clear focus and the issuance of many decisions that serve to accelerate its use in a way that ensures expansion of its adoption, pointing out that

Iraq is witnessing for the first time decisions that serve the electronic payment process in the presence of an infrastructure. Infrastructure at the Central Bank, the banking system, and electronic payment companies. He pointed out that

the outside world has witnessed a major revolution in the field of electronic payment and a complete move away from cash dealing, as it provides safe paths for funds and their transfer without any disruption.

In Iraq, electronic payment will expand to the extent that the benefits of the largest segment of society will be felt.

Tariq revealed that the number of electronic payment points has tripled during the year 2023, and

it is hoped that it will double to greater and greater levels in the coming period. He indicated that

last year witnessed a transition in expanding the use of electronic payment, as the collection project for government and private institutions was approved in the middle of last year, which was an important detail of the government program and within the strategy of the Central Bank of Iraq.

He stated that electronic payment follows several paths, the most important of which is providing POS acceptance points in government institutions and private projects, noting that the number of cards today in Iraq exceeds 15 million cards of various types, and that issuing electronic payment cards is not a complicated matter.

Regarding the transition to fully adopting electronic payment, Tariq pointed out that the matter requires the presence of at least one electronic payment method in government and private institutions that guarantees easy performance for the citizen, pointing out that all institutions now have devices that accept electronic payment, but the citizen is not forced to use it. Adopting this mechanism.

He pointed out that the most important challenges facing this matter are the need for broad education campaigns for all segments of society in order to achieve the widest spread after knowing the benefits obtained through electronic payment, which greatly reduces corruption and provides safe transactions.

As for the advisor to the International Smart Card Company, Ghazi Al-Kanani, he stated that the reality of electronic payment in Iraq is expanding greatly and the citizen is interacting with the services provided, especially with the continuous updating of products that have come to touch the citizen’s life and provide him with what meets his needs.

He pointed out that the continuous development of electronic payment mechanisms and achieving universality in providing products represents a fundamental goal, as the global electronic transactions market is witnessing rapid and continuous developments, and work is continuing to benefit from these developments that contribute to the creation of new and important products.

He stressed that the government’s directives and the instructions of the Central Bank of Iraq support the process of transitioning to cash transactions, as they provide safe services and a clear flow of money paths, noting that developing the reality of electronic payment in Iraq represents an important step in support of achieving economic advancement. https://alsabaah.iq/90422-.html

A Guide To Combating Fraud And Corruption For Banks Operating In Iraq

January 15, 2024 Based on the supervisory and supervisory role of this bank and in view of the continuous developments in the banking sector and what resulted in the provision of banking services in ways that keep pace with global development, and in light of the presence of some groups that target electronic technologies in creating fraudulent methods by exploiting technical and security gaps in the regulatory and technical aspects related to the work Banks.

In light of this and in order to confront these challenges, a guide to combating fraud and corruption was prepared for banks operating in Iraq in order to provide support to all licensed banks in determining procedures to combat cases of fraud and corruption...to view click here. http://cbi.iq/static/uploads/up/file-170530434494172.pdf

https://cbi.iq/news/view/2500

Extending The Deadline For Receiving Merger Applications

January 15, 2024 Based on the decision of the Board of Directors of this bank No. (17) of 2024,

it was decided to extend the date for receiving requests from brokerage companies for buying and selling foreign currencies operating in the Kurdistan region from category (C) until 3/31/2024 for merger to be classified as (A) or (B).. https://cbi.iq/news/view/2501

The Head Of Parliamentary Finance Stresses The Importance Of Legislating The Public-Private Partnership Law

Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani Economy News – Baghdad The Chairman of the Finance Committee in the House of Representatives, Atwan Al-Atwani, called on Monday for accelerating the legislation of priority laws that achieve sustainable development, increase non-oil revenues, and support the national industry.

The media office of the Chairman of the Finance Committee in the House of Representatives stated in a statement, seen by Al-Iqtisad News, that “Al-Atwani, during his intervention in the dialogue symposium held by the Federal Service Council, on the occasion of (Iraqi Legislation Day), said that we are in dire need to speed up the legislation of these laws.”

The mission, at the forefront of which is the Public-Private Partnership Law, because of its great importance in moving the wheel of investment and ensuring the provision of job opportunities for young people and reducing the burden on state institutions and the general budget.”

He added, "Al-Atwani pointed out the need for legislated laws to take the path of actual implementation and realistic application to regulate the relationship between the citizen and state institutions," indicating that "at the conclusion of the symposium, Al-Atwani participated in the section honoring a number of Federal Service Council employees who are distinguished in their work, wishing them more success." Success and excellence in performing the tasks assigned to them in the service of our beloved Iraq.” Views 30 01/15/2024 - https://economy-news.net/content.php?id=39467

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

The secret of a leader lies in the tests he has faced over the whole course of his life and the habit of action he develops in meeting those tests. - Gail Sheehy

The fiery trials through which we pass will light us down in honor or dishonor to the last generation. - Abraham Lincoln

Our trials are tests; our sorrows pave the way for a fuller life when we have earned it. - Jerome P. Fleishman

Times of general calamity and confusion have ever been productive of the greatest minds. The purist ore is produced from the hottest furnace, and the brightest thunderbolt is elicited from the darkest storms. - Charles Caleb Colton

http://famousquotesandauthors.com/topics/adversity_quotes.html

Famous Quotes and Authors, Famous Quotations for all Occasions-

Dinar Recaps 20 1/15/24 Dinar Recaps 20 1/15/24

"Tidbits From TNT" Monday 1-15-2024

TNT:

CandyKisses: Al-Sudani reaffirms the need to end the tasks of the international coalition in Iraq

Information/Baghdad.Prime Minister Mohammed Shia Al-Sudani on Monday reiterated Iraq's vision on ending the mission of the international coalition to fight ISIS.

A statement by the Sudanese office received by Al-Maalouma said that he "received, the Dutch ambassador to Iraq, Hans Sande, and during the meeting they reviewed bilateral relations between the two countries and ways to enhance them."During the meeting, he pointed to Iraq's openness to all forms of partnership and joint work in various fields, in particular the activation of the Joint Water Council between the two countries, in addition to the importance of the Netherlands assuming the leadership of the NATO mission in Iraq in mid-May.

According to the statement, Al-Sudani renewed "Iraq's vision on the mission of the international coalition to fight ISIS, in the next stage, which must include joint technical work to end this mission, and move to the levels of bilateral security and military cooperation .

TNT:

CandyKisses: Al-Sudani reaffirms the need to end the tasks of the international coalition in Iraq

Information/Baghdad.Prime Minister Mohammed Shia Al-Sudani on Monday reiterated Iraq's vision on ending the mission of the international coalition to fight ISIS.

For his part, the ambassador handed over, during the meeting, an official invitation to Dutch Prime Minister Mark Rutte to visit the Netherlands in order to discuss more partnership opportunities between the two countries, and to convey his government's desire to increase levels of cooperation, Pointing to the positive relations between the Netherlands and Iraq, as well as the desire of Dutch companies to work within Iraqi development programs and infrastructure reconstruction.

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Tishwash: Al-Sudani receives an official invitation to visit the Netherlands

The Prime Minister, Mr. Muhammad Shiaa Al-Sudani, received the Dutch Ambassador to Iraq, Mr. Hans Sande, and during the meeting, they reviewed bilateral relations between the two countries and ways to enhance them.

During the meeting, His Excellency pointed out Iraq’s openness to all forms of partnership and joint work in various fields, in particular the activation of the Joint Water Council between the two countries, in addition to the importance of the Netherlands assuming leadership of the NATO mission in Iraq, mid-May.

Mr. Al-Sudani renewed Iraq's vision regarding the mission of the international coalition to combat ISIS, in the next stage, which must include joint technical work to end this mission, and move to the levels of bilateral security and military cooperation.

For his part, the ambassador delivered, during the meeting, an official invitation to His Excellency from the Dutch Prime Minister, Mr. Mark Rutte, to visit the Netherlands in order to discuss more opportunities for partnership between the two countries, and to convey his country’s government’s desire to increase levels of cooperation, pointing to the positive relations between the Netherlands and Iraq. In addition to the desire of Dutch companies to work within Iraqi development programs and infrastructure reconstruction.

Prime Minister’s Media Office
15-January- link

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CandyKisses: Iraq plans to stop international borrowing this year

Mawazine News-Baghdad
Advisor to the Prime Minister for Technical Affairs, Engineer Muhammad Al-Daraji, Chairman of the Committee to Review Foreign Foreign Loans to Iraq, revealed that the government is seeking to stop loans that do not benefit the country.

Al-Daraji said, in a statement to the newspaper (Al-Sabah) followed by / Mawazine News / "Iraq entered after 2003 a new wave of foreign loans and debts due to low oil prices and insufficient budget in most cases."

He added that "there was clear confusion and differences in estimating the size of Iraq's new foreign debt due to the existence of other debts before 2003," noting that "the new debts must have a clear picture of them in order to take appropriate measures in dealing with them in order to preserve the country's economy and its credit rank globally."

Al-Daraji explained that "loans are distributed between ministries and provinces in exchange for projects, and the task of the committee, which formed the inventory of loans and find out what projects, ministries or provinces benefited from them and what is their condition," noting that "debts entail interest that burdens Iraq and must be liquidated and reach final results in knowing the size of debts and how to repay them and their value for the economy."

The Prime Minister's Advisor for Technical Affairs said that "these debts may have been taken for certain reasons, but there is no added value to the Iraqi economy, which makes us study the debts again and proceed with the implementation of the projects for which the debt was borrowed, and if they are useless, they must be stopped and the debts returned to improve Iraq's financial situation internationally."

It is noteworthy that foreign foreign loans to Iraq are estimated at $ 25 billion, and the formation of this committee comes after those loans burdened the country during the past twenty years.

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Tishwash: Economist: The Iraqi Central Bank returns to the forefront with a new strange decision!

Economic researcher, Ziad Al-Hashemi, said on Sunday that the Central Bank opened a new door to withdraw the dollar under the pretext of “borrowing” and then repaid the value of these dollar loans in dinars and at the official rate, without specifying any controls or standards that control dollar borrowing operations, which makes it a potential method. To receive the dollar and smuggle it or sell it for cash at the parallel price, and then repay its value at the official price and profit from the price differences.

Al-Hashemi stated in a post on the “X” platform, that “the Iraqi Central Bank returns to the forefront with a new strange decision, as many were optimistic about the recent steps of the Iraqi Central Bank and considered them (reform) measures that will contribute to supporting the dinar, controlling the leakage of national hard currency, and stabilizing exchange rates, but It seems that the management of the Central Bank wants to raise controversy, suspicions and speculation again, through some strange decisions.”

He explained, “The Central Bank opened a new door to withdraw the dollar under the pretext of (borrowing) and then repaid the value of these dollar loans in dinars and at the official rate (according to the book below), and this book (according to its wording) does not specify any important controls or standards that control dollar borrowing operations, which This makes it a potential way to receive the dollar and smuggle it or sell it for cash at the parallel price, and then repay its value at the official price and profit from the price differences.”

He stated, “This potential fraudulent exploitation of the Iraqi dollar will refuel the smuggling and money laundering networks with cash dollars, and will increase the wealth of speculative parties (already wealthy) in dollars through differences in exchange rates.”

The economic researcher called on “the Central Bank to reconsider this book and discuss its potential repercussions on the Iraqi markets and economy, and to amend it in a way that preserves Iraqi funds and does not provoke the Fed again.” link

Mot: ... THE SNACK!!!

Mot: Lost Cellphone

DINARRECAPS8 1/14/24 DINARRECAPS8 1/14/24

Iraq Economic News and Points to Ponder Sunday Evening 1-14-24

Tlm724 Administrator Bondlady’s Corner

Integrity: We Will Begin To Open The File Of Money Inflation And Activate The Campaign (Where Did You Get This From?)

Local | 01/14/2024 Mawazine News – Baghdad The head of the Federal Integrity Commission, Judge Haider Hanoun, confirmed today, Sunday, the imminent start of opening the file of money inflation and activating the campaign (Where did you get this from) in the governorates.

Judge Haider Hanoun said, during his meeting at the headquarters of the Investigation Department with the directors of the authority’s investigation directorates and offices in Baghdad and the governorates, and followed by Mawazine News, that “it is important to focus on the level of performance and ensure its continued improvement in quantity and quality.”

He pointed out, “the necessity of following up on the investigative, auditing and investigative staff and monitoring and evaluating their work.”

Iraq Economic News and Points to Ponder Sunday Evening 1-14-24

Tlm724 Administrator Bondlady’s Corner

Integrity: We Will Begin To Open The File Of Money Inflation And Activate The Campaign (Where Did You Get This From?)

He pointed out, “the necessity of following up on the investigative, auditing and investigative staff and monitoring and evaluating their work.”

He praised “the achievements achieved by them in the past year, pledging “to provide them with full support to enable them to accomplish their assigned tasks.”

Hanoun pointed out “the necessity of finding clear and accurate job performance standards through which the performance of investigative and audit staff can be evaluated, and through which the performance of investigative and audit staff can be rewarded.” Those with businesses with a high level of performance.”

He pointed out that “the amount of funds maintained or returned to the state treasury and the positions of those being investigated or arrested should be placed at the top of the list of those standards.” He

added that “the authority will begin opening the file of money inflation and activating (Where did you get this from) campaign in the governorates through the investigation directorates and offices of the Commission,” pointing to “the achievements achieved in this file since it was opened in April of last year.”

He stressed “the importance of coordination and cooperation between the Commission’s investigators and investigative judges and what results from this cooperation.” Among the major outcomes, one of which was doubling the number of flagrante delicto arrests and the number of arrested defendants.”

He urged “following up on criminal cases, starting from referring them to the judiciary until the appropriate ruling decisions are issued,” stressing “the importance of the judiciary’s supervision of the work of the Commission’s investigators.”

He praised "the presidency of the Supreme Judicial Council, which he described as keen to combat corruption and resolve cases without delay." https://www.mawazin.net/Details.aspx?jimare=240419

Al-Sudani: It Is Time For International Organizations To Help Iraq In Combating Corruption

Political | 01/14/2024 Mawazine News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed, on Sunday, that a set of firm measures had been taken to strengthen the government’s efforts in combating corruption and financial oversight in the country.

Al-Sudani said in a press conference followed by Mawazine News: “Government agencies were obligated to provide the necessary financial data to complete the monitoring and auditing procedures,” noting “the importance of collecting and analyzing this data to ensure that public funds are used effectively in accordance with controls and laws.”

In the context of strengthening legal tools, the Prime Minister announced "the preparation of projects to amend relevant laws and issue instructions to combat corruption."

Regarding international relations, the Prime Minister referred to “the importance of other countries’ cooperation in recovering public money and extraditing wanted persons.” In this regard, he stressed that “partner countries must implement the necessary measures for effective cooperation in this context.”

At the conclusion of his statements, the Prime Minister called on international organizations to "help Iraq fight corruption," stressing that "Iraq has accomplished all necessary legal means, and that the step now falls to other countries to implement procedures related to the return of wanted persons."

https://www.mawazin.net/Details.aspx?jimare=240388

The Dollar Declines Again On The Erbil And Baghdad Stock Exchanges

Economy | 01/14/2024 Mawazine News – Baghdad Dollar prices continue to decline in the parallel markets within the Baghdad and Erbil stock exchanges.

A source told Mawazine that dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 152,800 Iraqi dinars against 100 dollars, while yesterday, Tuesday, prices were 152,700 dinars against 100 dollars

He pointed out that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 152,250 Iraqi dinars, while the purchasing price reached 152,750 dinars for every 100 dollars.

As for Erbil, a decrease was also recorded in banking shops, and the selling price reached 152,700 dinars against the dollar, and the purchase price reached 1,521,000 dinars against 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=240368

The Main Options For Iraq To Form A Mixed Economy In The Middle East And Oil Countries

Researcher In Development And Financial Affairs, Aqeel Jabr Ali Al-Muhammadawi -

Aqeel Jabr Ali Al-Muhammadawi* introduction …It is possible to explore the main options for forming a mixed economy in the Middle East and oil countries, transforming from a rentier economy to a mixed economy, as is happening in the Gulf countries (and the model proposed in Iraq by benefiting from Arab and international experiences).

The experience of the United States emerging from the Great Depression and creating preconditions for sustainable growth, the concept of the social market system in Germany and the origins of the post-war miracle in Japan are considered. In the modern era, the mixed economy boom model in the People's Republic of China

The main options for forming a mixed economy in developed countries

The beginning of the transformation of the growth of the market economy into a mixed economy (based on the Great Depression that occurred in the United States and some countries of the world).

We review models of economic transformation and development The development of state regulation of the economy as a “response” to the “challenge” of the Great Depression is both general and specific.

The economic crisis manifested itself primarily in a sharp decline in industrial production. In 1930 it was 80.7% compared to 1929, in 1931 it was 68.1%, and in 1932 it was only 53.8%.

The decline in capital investment was greater than the decline in gross national product. Companies sharply reduced investment, as demand for their products fell, production facilities were idle, and there was no money.

The number of completely unemployed in 1933 was 12.8 million people, or 25% of the total number of employees (Fig. 15-2). After being dispossessed and evicted for non-payment of rent, hundreds of thousands of workers were turned into beggars and homeless vagrants. Many faced the real threat of famine and poverty. In New York alone, about 2,000 deaths due to hunger were reported in 1931.

The Great Depression can rightly be called one of the most inexplicable events in the history of the United States. Traditionally, the Great Depression has been referred to as a confirmation of the negative impact of the illiberal capitalist system. Organizer.

Only a strong welfare state, serious economic regulation, and various state interventions can save capitalism from itself, according to the invincibility and sobriety of the economic approach followed.

During the Great Depression, state intervention in the economy was stronger than ever. The Federal Reserve Bank was created and established specifically to prevent depression and related problems (for example, widespread banking panics). But the Fed's policy was not always reasonable, and even, according to some relevant versions and publications, it can be said that this unsuccessful policy provoked and exacerbated the Great Depression.

In the article “Predicting Depression for the Capitalist Economy: Harvard vs. Yale” A. Dominguez, A. (Me and Fire). Shapiro shows that modern time series methods will not make it possible to predict a strong decline in output after the collapse. For the public and business circles in the 1920s Harvard and Yale were the main sources of economic analysis and forecasting.

F.D. Roosevelt's "New Deal" was the first experiment in integrated macroeconomic regulation of a market economy. The major crisis and the "revolution of the rulers." The emergence of Keynesianism. JM Keynes and the reorientation of the economy towards personal consumption. Creating preconditions for long-term sustainable growth. Keynesian theory and practice.

- Germany: The concept of the social market system

The emergence of fascist regimes as a result of the Great Depression. Including the fascist model of the command economy.

Reforms by L. Erhard - Formation of a social market economy. The role of the state in creating an institutional environment conducive to business development. "A German miracle." The Rhine model of capitalism.

As well as the organization of German industry. The nature of scientific and technological progress and structural changes in the economy. Entrepreneurship and trade unions. Collective bargaining system. Collective institutions. The role of the state. Problems of the German economy after the unification of Germany. The strength and weakness of the German economy.

- And Japan: The Origins of the Postwar Miracle

Foreign Economic Activity in the 1940s and 1950s Until the 1960s, Japan had government measures of exchange controls, import licensing, and strict monitoring of a very limited number of banks serving foreign trade.

In fact, the growth of foreign trade was a clear reflection of the success of domestic economic development, a clear manifestation of the Japanese economic miracle.

The role of the Meiji Revolution. The birth of the "Japanese miracle".

The development of Japan after the war. Factors of rapid economic growth. The role of the state in modernizing the economy. Industry and organizational structure of modern Japanese industry. Public Finance. Economic policy planning. System of relations in production. Competition motives. A mixture of tradition and modernity. The strength and weakness of the Japanese economy after the war.

- The experience of the United States of America: the experience of overcoming the Great Depression and creating preconditions for sustainable growth - ⁠

Helping students in studying the basic provisions of competition theory and methodological tools for managing the competitiveness of an enterprise. This introduction aims to study competitiveness to know the basic principles of a new, advanced, flexible and responsive methodology for microeconomics, industrial economics, market economics/productivity of industry, trade, markets, and other economic markets according to methodological, objective, standard, and realistic foundations in Iraq.

Source: Accumulation of knowledge based on a summary of various foreign sources.

Views 36 01/14/2024 https://economy-news.net/content.php?id=39427

A Precise Breakdown Of Monetary Policy In Iraq

Time: 01/14/2024 Read: 1,560 times {Economic: Al-Furat News} The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained today, Sunday, the mechanism of monetary policy in Iraq.

Saleh said {to Al-Furat News} that: “The monetary policy works to ensure that the price of the dollar in the parallel market is close to the nominal price through procedures and measures by using its operational objectives, whether {quantitative} of them, that is, by controlling and sterilizing surplus liquidity opportunities with high flexibility.”

He added, "Or the {price} that requires effective use of the exchange rate and interest rate signals in order to maintain the superiority of the Iraqi dinar, stabilize its value in the overall economy, and minimize the role of the secondary exchange market, which must approach the central exchange rate of 1,320 dinars per dollar."

Saleh added, "Providing the national market with consumer and intermediate commodity products and supplies with stable prices will be among the government's import priorities, whenever necessary, in order to achieve a balance between supply and demand and achieve price stability for basic and important commodities, in accordance with the requirements of a stable standard of living." LINK

Iraq's Oil Exports To America Decreased Last Week

Sunday 14, January 2024 09:30 | Economical Number of readings: 473 Baghdad / NINA / The US Energy Information Administration announced a decline in Iraq’s oil exports to America during the past week.

The administration said in a table: “Iraq’s oil exports to America amounted to 192 thousand barrels per day last week, down by 47 thousand barrels per day from the previous week, which reached an average of 239 thousand barrels per day.”

The table showed that “most of America’s oil revenues during the past week came from Canada, followed by Mexico, Saudi Arabia, Brazil, Colombia, Nigeria, and Ecuador, while it did not import any quantity from Russia or Libya.”/ https://ninanews.com/Website/News/Details?key=1100853

Central Bank Sales Exceed $219 Million Today

Sunday 14, January 2024 | Economical Number of readings: 329 Baghdad / NINA / The Central Bank of Iraq announced, today, Sunday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) of $209,269,090, while the total amount of cash sales amounted to $10,680,000, bringing the total amount of sales to $219,949,090.

The cash selling price was 1,305 dinars per dollar, while bond credits, international electronic card settlements, and foreign transfers were at 1,310 dinars per dollar. /End 11

https://ninanews.com/Website/News/Details?key=1100892

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

Provoking Points To Ponder on Adversity:

To be tested is good. The challenged life may be the best therapist. - Gail Sheehy

I think hearts are very much like glasses - if they do not break with the first ring, they usually last a considerable time. - L. E. Landon

Your first big trouble can be a bonanza if you live through it. Get through the first trouble, and you'll probably make it through the next one. - Ruth Gordon

http://famousquotesandauthors.com/topics/adversity_quotes.html

Famous Quotes and Authors, Famous Quotations for all Occasions-

DINARRECAPS8 1/14/24 DINARRECAPS8 1/14/24

Iraq Economic News and Points to Ponder Sunday Afternoon 1-14-24

Tlm724 Administrator Bondlady’s Corner

Liberating The Dinar From The Official Rate... Obstacles And Solutions

With the return of fluctuations in the dinar exchange rates, there is renewed talk about the necessity of getting rid of the “official price” with the aim of reducing the difference with the price in the parallel market, by subjecting the local currency to global supply and demand, similar to other countries,

but many obstacles stand in the way of this step, among them

“The unilateralism of the Iraqi economy, which relies on oil and government revenues, and the absence of correspondent banks in the dinar currency, according to specialists, also called for taking other possible solutions, such as “deleting the zeros” from the currency, and withdrawing the cash mass from citizens and transferring it to banks.

Iraq Economic News and Points to Ponder Sunday Afternoon 1-14-24

Tlm724 Administrator Bondlady’s Corner

Mazhar Muhammad Salih, financial advisor to the Prime Minister, says,

“The Iraqi dinar’s exchange rate follows a system of fixed exchange rates, and that

the process of approving the exchange rate is one of the monetary policy tasks of the Central Bank of Iraq as it is the independent body, especially since Iraq depends primarily on oil sources that provide... Foreign currency, and

therefore oil revenues are transferred to the Central Bank of Iraq, and reserves follow the exchange mechanism between the dinar and the dollar, given that the Central Bank is the source of exchange between them.”

The dollar exchange rates in the local market witnessed great fluctuation during the past days, as it suddenly decreased to 148 thousand dinars per 100 dollars, and quickly rose again to 150 thousand dinars, and then continued to fluctuate until it reached 154 thousand dinars per 100 dollars, after its price was approaching... About 157 thousand dinars. Saleh adds,

“The balance and stability of the price in flexible exchange systems requires a financial and banking market, in which interest rates play a major role in the inflows and outflows of foreign currency, and

this is something that is not available in Iraq, and the mono-economy is dependent on the inflows of foreign currency.” On government oil revenues, and here the forces of supply and demand are inconsistent with the unilateralism of the economy.” He continues,

"The economy is sometimes exposed to a large deficit in the current account and the balance of payments, and the general budget is also exposed to a deficit.

Here loans are resorted to and governments are forced to reduce the national currency until foreign currency becomes expensive.

This is called financing from inflation, and

despite the fact that This conflicts with the policy of the Central Bank, but is done in consultation with monetary and fiscal policies.”

He points out that “the function of the central bank in general is to maintain the exchange rate and its stability for a long period,

but this relates to the nature of the current account and the balance of payments, and whether there is a surplus or a long-term or stable deficit, as well as the nature of the budget, is it expansionary or contractionary, so the

The issue is not easy, as

all we need in the exchange rate is a circle of consultation and communication between monetary and financial policies to maintain its stability.”

It is noteworthy that since the beginning of the exchange rate crisis more than two years ago, many options have been put forward to control it, including

printing new denominations of cash, including 100 thousand dinars, or

deleting three zeros

to control the rise in the value of numbers in monetary transactions.

Since the 1990s, and during the imposition of the economic blockade on it, Iraq has suffered from significant inflation in the currency, which prompted the previous regime to go to print the currency locally, and after the year 2003, the previous currency was destroyed and new denominations were issued, and its exchange rate against the dollar was fixed, by decree.

From the civil governor of Iraq at the time, Paul Bremer, who revealed the shape of the new currency and its exchange rate against the dollar.

For his part, economic expert Nasser Al-Kinani explains,

“With regard to the fluctuation of the dinar, the central bank was selling the dinar for 1,118 per dollar, and then it changed since the arrival of former Prime Minister Mustafa Al-Kadhimi to power and the appearance of the white paper, as its price rose and became 1,450 dinars, in addition to This caused the Iraqi dinar to rise until it currently reached 1,530 dinars per dollar in the local market, but despite this, solutions can be developed for this problem.” He explains that

"the solutions revolve around reprinting the currency again and zeroing it,

especially if the printing process is accompanied by the process of retrieving the money stored inside homes to the banks.

Hence, it is possible to stabilize the Iraqi dinar by giving the banks a percentage for each citizen who owns an account or opens an account within the bank, for example, 10 percent, which would be 10 percent." As a deposit for the citizen inside the bank.” He continues,

"The above steps will lead to solving the import issue that the government is suffering from now, and

it is trying to control it to limit the smuggling process.

Stabilizing the currency and revitalizing local industry and agriculture will, in general, lead to solving all economic and currency problems."

According to the Central Bank of Iraq website, Iraq includes 80 operating banks, including 62 local banks and 18 banks that are branches of foreign banks.

It is noteworthy that the Iraqi banking sector is neglected by citizens who have lost confidence in it, and according to World Bank figures issued last year, only 23 percent of Iraqi families have an account in a financial institution, which is a percentage among the lowest in the Arab world,

especially since the owners of those Accountants are state employees whose salaries are distributed to public banks at the end of each month, but these salaries also do not remain in the accounts for long, as queues quickly form in front of banks from employees who withdraw their salaries in cash and prefer to keep them at home.

For his part, financial and economic expert Mustafa Akram Hantoush explains,

“The local Iraqi currency is printed by the state and gives its value in exchange for other currencies or gold, that is, currencies or metals in the global supply and demand market.” Hantoush points out,

“The currencies that are exposed to the supply and demand market are currencies that have countries that have correspondent banks for their currencies, for example the dollar.

There are banks that correspond in dollars so that the whole world receives and trades them, and therefore such a currency is considered a flexible currency with variable prices.” He continues,

"The Iraqi dinar had correspondent banks in a global currency that was dealt with in the field of global trade, and

here the demand for it will become higher and the value of the dinar will rise.

However, Iraq as a country does not currently have correspondent banks, so the national currency it owns is a local currency and is not subject to supply and demand." Global, as

it is a currency issued for other currencies, and the process in it is fixed and does not rise to be a global process.”

It is noteworthy that Washington entered into the crisis of dollar smuggling last year, and Iraq was subjected to the global SWIFT system, which created a gap between the parallel and official market, and increased the loss of confidence in Iraqi banks, as dozens were subjected to American and Iraqi sanctions without processing depositors’ funds, in addition to the involvement of... Most banks are currently engaged in smuggling operations, according to what the US Treasury Department confirmed.

Saturday, 01-13-2024, PM 9:01 Karar Al-Assadi 225 https://www.non14.net/public/163518

To read more current and reliable Iraqi news please visit BondLady’s Corner: https://www.bondladyscorner.com/

DINARRECAPS8 1/14/24 DINARRECAPS8 1/14/24

Goldilocks' Comments and Global Economic News Sunday Evening 1-14-24

Goldilocks' Comments and Global Economic News Sunday Evening 1-14-24

Good Evening Dinar Recaps,

"The IIA Releases New Global Internal Audit Standards to Lead Profession into the Future"

The Institute of Internal Auditors has a long history of auditing Financial Industries. It provides internal audits regarding principles, compliance issues, and proposals for implementation in a streamlined format.

This auditing system began the first day of this year and will run until the end of the year and following. It determines sanction procedures, as well as, moving Financial structures into new directions.

It is clear that our QFS is up and running. Since the beginning of the year, we have added reporting procedures and now auditing protocols to our new digital asset-based trading system.

As we approach, Basel 3 final guidance on January 16th implementation and Protocol 20 on January 30th, we are about to be well on our way to a systematic approach designed to self-check itself on a global scale.

© Goldilocks

Goldilocks' Comments and Global Economic News Sunday Evening 1-14-24

Good Evening Dinar Recaps,

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Banking Announcement:

On 11 December 2023, Treasury and the IRS issued Notice 2023-80 (the “Notice“), which represents the US government’s first attempt to address the US federal income tax implications of Pillar Two. The Notice provides guidance on certain foreign tax credit and dual consolidated loss issues that arise in the context of Pillar Two. The Notice also extends the period of relief for the 2021 final foreign tax credit regulations until more guidance is issued. John Barlow, Rafic Barrage, Ethan Kroll, Sam Pollack and Steven Smith analyze the guidance in Notice 2023-80: When the US Tax Code Meets Pillar Two, as first published in the December 2023 issue of Tax Management International Journal.

To read Notice 2023-80: When the US Tax Code Meets Pillar Two, please click below.👇

Notice 2023-80: When the U.S. Tax Code Meets Pillar Two

~~~~~~~~~~

"The Federal Reserve is unlikely to extend its Bank Term Funding Program, the central bank’s vice chair for supervision, Michael Barr, inferred Tuesday while speaking at an event for Women in Housing and Finance. The Fed launched that emergency lending facility last year amid the collapses of Signature and Silicon Valley Bank. It is set to expire March 11."

We talked about this last week. The safety net for the old banking system of emergency funding will be over on March the 11th, 2024. We are expected between now and then to make adjustments inside our new Digital Asset Based Trading System and new Capital requirements to be up and running well.

These changes could cause fluctuations in the market we have not seen in a long time, but these shifts will be adjusted through new Basel 3 final guidance on our new tokenized assets interfacing together with banking systems and financial institutions all over the world.

This is not an overnight process and could take well into this year for many assets to shift into new prices based on new banking protocols.

Look for price pressures to cause new valuations going forward. It is a process expected to happen over time leading to a culminating event of weighing the market and its new values on a fixed rate of gold.

© Goldilocks
Banking Dive LInk

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Fed Reports Operating Loss of $114 billion for 2023, as Interest Expense Blows Out | Wolf Street
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Google launched several new tools for retailers using generative artificial intelligence to improve online shopping experiences and other retail operations, its cloud business announced in a release Thursday.

CNBC Link

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China is using AI and 3D printing to build a 590-foot-tall dam without the need for human workers, scientists say | Business Insider

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In a significant shift, Norwegian Cruise Line (NCL) has announced it will cease foreign currency exchange services aboard its vessels from February 1, 2024. The change mandates the use of the U.S. dollar for all onboard transactions, impacting the way international travelers manage their finances while at sea.6 hours ago https://www.cruisehive.com › norw...
Norwegian Cruise Line Discontinues Currency Service

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Look for several Market adjustments to take place as capital requirements under Basel 3 get implemented between now and March the 11th, 2024.

From that moment forward, the emergency funding program to protect our markets from the old Financial system will fall away.

We will be on a new digital banking system guided by new protocols under gold as a tier-one asset.

© Goldilocks

~~~~~~~~~~

Watch the Debt Clock at 6pm ET tonight! A Secret Message appears every Sunday, Tuesday, and Thursday at 6pm ET. Join the discussions in the SOWT's Living Room as we try to decode the message!

Discussions ON THE DEBT CLOCK Topic begin at 6pm ET
Join in the fun with your decoding ideas.
While the Debt Clock topic is being discussed please stay on topic. Off topic comments during this time are subject to being removed. Thank you

The Living Room Link
The Debt Clock Link
The Debt Clock on the SOWT Website

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DINARRECAPS8 1/14/24 DINARRECAPS8 1/14/24

Iraqi News Highlights and Points to Ponder Sunday AM 1-14-24

A Parliamentary Committee Reassures: The 2024 Budget Will Not Witness A Financial Deficit

Economy News – Baghdad Today, Sunday, a member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, expected that there would be no financial deficit in Iraq’s fiscal budget for the year 2024, while he confirmed the existence of decisions that require new financial funding.

Al-Kadhimi said, during an interview followed by Al-Iqtisad News, that “the budget is ongoing and the Ministry of Finance can disburse the allocations of ministries and governorates for the year 2024 normally and without delay, whether operational or investment.”

He added, "The government is submitting amendments to the table of amounts, and these amendments are in the process of being completed and sent to the Finance Committee. They will be studied there, approved by Parliament, and are on their way to implementation."

Iraqi News Highlights and Points to Ponder Sunday AM 1-14-24

A Parliamentary Committee Reassures: The 2024 Budget Will Not Witness A Financial Deficit

The member of parliamentary finance explained, “Considering the budget as a tripartite, there are observations made by the government on the experience of last year’s fiscal year 2023, or that there are decisions made by the Council of Ministers that require new financial funding.”

He continues, "There was no financial deficit in the 2023 budget and there was a surplus, but the 2024 budget will not have a financial deficit, especially since oil prices are constantly increasing."

Last June, the House of Representatives approved the financial budget for the years 2023, 2024 and 2025, after a difficult struggle and a series of parliamentary sessions. This budget was considered the largest in the country’s history, with a value of about 153 billion dollars for each year.

Views 69 01/14/2024 - https://economy-news.net/content.php?id=39403

"Al-Eqtisad News" Publishes Exchange Rates In Iraq: They Recorded A Decline

Economy News – Baghdad Al-Iqtisad News publishes the dollar exchange rates in local markets during Sunday’s trading. The exchange rates of the dollar, on the Al-Kifah Stock Exchange in the capital, Baghdad, reached 152,900 dinars per 100 dollars, while on the Basra Stock Exchange, it reached 153,100 dinars per 100 dollars.

Exchange rates varied in the governorates of the Kurdistan region, reaching 152,750 dinars per 100 dollars in Erbil, while Sulaymaniyah and Dohuk recorded 152,850 dinars per 100 dollars.

Views 30 01/14/2024 - https://economy-news.net/content.php?id=39407

The Baghdad Stock Exchange Opens With A Decline In Dollar Exchange Rates

Economy |Baghdad today _ Baghdad The exchange rates of the US dollar fell against the Iraqi dinar today, Sunday (January 14, 2024), on the Baghdad Stock Exchange.

The "Baghdad Today" correspondent said: "Selling prices in money exchange shops in local markets in Baghdad decreased, as the selling price reached 153,750 dinars."

He added, "Purchasing prices reached 151,750 dinars for every 100 dollars." LINK

A List Of The Latest Update Of Exchange Rates In The Iraqi Governorates

Posted On01-14-2024 By Sotaliraq

“Baghdad Today” publishes a list of exchange rates for the dollar against the dinar in all Iraqi governorates, where the lowest price came in Baghdad, while the highest price came in the governorates of Muthanna, Wasit, Salah al-Din, and Dhi Qar.

The list was as follows:

Dollar exchange rates in Iraqi governorates

100 = 153,000 Baghdad

100 = 153,050 Erbil[

100 = 153,050 Basra

100 = 153,100 Sulaymaniyah

$100 = 153,050 Dohuk

$100 = 153,150 Kirkuk

$100 = 153,150 Halabja

$100 = 153,100 connectors

$100 = 153,050 Najaf

$100=153,100 grey

$100 = 153,150 Samawah

$100 = 153,150 Nasiriyah

$100 = 153,100 Karbala

$100 = 153,100 with penalty

$100=153,050 suit

$100 = 153,150 kout

$100 = 153,100 Diwaniyah

$100 = 153,150 Tikrit

$100 = 153,100 architecture

LINK

Soon.. Approval Of A Draft National Policy To Combat Begging

Iraq 01/14/2024 Baghdad: Rula Wathiq and Shaima Rashid The Ministry of Labor and Social Affairs revealed that the draft national policy to combat begging will soon be approved, while the Parliamentary Work Committee indicated that the Social Security Retirement Law has entered into force.

Director of the Anti-Begging Department in the Ministry, Haitham Adel, told Al-Sabah: A committee was formed two years ago, headed by the National Security Advisory and the membership of representatives from some relevant ministries and institutions. It prepared a draft draft (the National Policy to Combat Begging in Iraq) and is now in the process of approving it and presenting it to the Prime Minister.

To decide. He pointed out that the plan distributed its tasks in terms of performance, leadership, follow-up, performance evaluation, and knowledge of areas of strength, weakness, and support, noting that the Ministry of Labor was tasked in 2015 with forming a department concerned with combating begging, with recommendations from the Citizens Affairs Department in the General Secretariat of the Council of Ministers, and formed committees in the governorates headed by the Deputy Governor. Membership includes representatives from various ministries and institutions.

Adel stated that during April of last year, the Prime Minister directed the Ministry of the Interior to chair a committee to combat begging and homelessness, with representatives from the National Security Service and the Ministry of Labor as members, whose mission is to find and assist people who need social welfare salaries and include them in it after writing a pledge not to practice begging in the future,

stressing that The mobile teams' mission is to approach the affairs of foreign workers in the Ministry of Interior, to inform them of the presence of beggars on the streets, to verify their identification papers and to force them to leave Iraq if they violate the laws.

For his part, member of the Parliamentary Work Committee, Jassem Al-Moussawi, explained to “Al-Sabah” that begging is an uncivilized phenomenon and must be reduced by trying to include these people in the social welfare salary and speeding up procedures against them.

Yes, there are anomalous cases, and some of them are well-off and capable, but some take begging as their profession. To live, and if this happens, the Ministry of Interior must take measures against them, and we stress their follow-up and limitation.

He stated that Parliament, as a legislator, must put an end to these matters and to many of the phenomena that exist in society that are not appropriate for Iraqi society or the government, stressing the need for there to be a law that holds these phenomena accountable because there are wealthy people who practice this profession, but the real cases must include a salary for care and a network. Protection and accelerating their inclusion.

Al-Moussawi continued: There are gangs that exploit some people and they are victims of them. We must benefit from them, in addition to the presence of instructions to hold them accountable by the security services because this falls within human trafficking, and the Minister of Interior must hold these cases accountable and monitor them.

He stressed that the Retirement and Security Law has entered into force, but the previous windows are only provided by the security offices in the governorates, noting that today there is talk from the Ministry of Labor about the existence of advanced retirement companies with the Ministry in order to open advanced windows to accommodate the large number in a modern electronic way.

Al-Moussawi added that through electronic outlets and in order to include the largest possible number of guarantees, especially since the law included broad segments, he expected that during the coming period all problems would be resolved and the law would enter into force.

Edited by: Adhraa Juma https://alsabaah.iq/90349-.html

Provoking Points To Ponder on Adversity:

A problem is a chance for you to do your best. - Duke Ellington

Emergencies have always been necessary to progress. It was darkness which produced the lamp. It was fog that produced the compass. It was hunger that drove us to exploration. And it took a depression to teach us the real value of a job. - Victor Hugo

Many men owe the grandeur of their lives to their tremendous difficulties. - Charles Haddon Spurgeon

It is often hard to distinguish between the hard knocks in life and those of opportunity. - Frederick Phillips

Fire is the test of gold, adversity of strong men. - Marcus Annaeus Seneca

I think my biggest achievement is that after going through a rather difficult time, I consider myself comparatively sane. I'm proud of that. - Jacqueline Kennedy Onassis

http://famousquotesandauthors.com/topics/adversity_quotes.html

Famous Quotes and Authors, Famous Quotations for all Occasions-

Dinar Recaps 20 1/14/24 Dinar Recaps 20 1/14/24

"Tidbits From TNT" Sunday 1-14-2024

TNT:

CandyKisses: Submission of a proposed law to "remove foreign forces" from Iraq

twilight News / About a hundred deputies in the Iraqi parliament announced on Saturday the submission of a proposed law "Removing foreign forces from Iraq", amid unprecedented escalation Between armed factions and the international coalition forces, most notably the escalation against military bases in Country.

said MP Faleh Al-Khazali, during a press conference held at the Parliament building, with the participation of a number of MPs, attended by Shafaq News Agency: "We, members of the House of Representatives, present a proposed law to remove foreign forces from Iraq, at a request signed by 88 deputies."

He came This is as a result of "the continued violations of Iraqi sovereignty by US forces, by During the repeated targeting against the headquarters of the Popular Mobilization Forces and their leaders, who are part of the forces Iraqi Armed Forces," Khazali said.

TNT:

CandyKisses: Submission of a proposed law to "remove foreign forces" from Iraq

He added This also comes as "considering that there is no need for foreign forces to be present in Iraq, Especially in light of the presence of a sufficient number of armed forces and security agencies that undertake Defending the homeland and its people."

Tishwash: Al-Fateh: America does not want to leave Iraq for these reasons

Today, Saturday, the Al-Fatah Alliance explained the reasons for the American forces’ insistence on remaining in Iraq, while stressing that Washington does not want to leave Iraq “at all.”

The leader of the coalition, Aed Saheb, said in an interview with the “Al-Ma’louma” agency, “America does not want to leave Iraq, given that this region contains the two most important trade corridors around the world between the East and the West, which are the Suez Canal and the port of Al-Faw.”

He wondered: “If the Al-Faw port were to be completed, it would either be an alternative or a solution to the Red Sea and the Suez Canal for the passage of global trade,” pointing to “the global energy market, which depends mainly on what is present in the region, especially as it supplies the world with more than 33%.” ".

The leader of the Al-Amiri coalition explained, “Most of the countries in the region are partners of America, and have allied themselves with the Zionist entity, and therefore Washington came to Iraq to preserve its interests, and this matter made it pay and provide what it provided over the past years, in terms of money and support to this or that party.”

Earlier today, Acting Speaker of the House of Representatives, Mohsen Al-Mandalawi, called on the government to implement the decision to end the foreign presence in Iraq, indicating that the House of Representatives’ decision to end the presence of foreign forces in Iraq is a principled and firm decision.

Most of the Iraqi political forces issued their support for the Prime Minister regarding the steps to remove American forces from Iraq after a series of attacks against the Iraqi security forces. link

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Tishwash: Sudanese participates in the World Economic Forum in Davos, Switzerland

A government source reported, on Saturday, that Prime Minister Muhammad Shiaa Al-Sudani will participate in the World Economic Forum in Davos, Switzerland.

The source told Shafaq News Agency, “Prime Minister Muhammad Shiaa Al-Sudani is participating in the World Economic Forum in the Swiss city of Davos in its fifty-fourth edition, which will begin its work on the fifteenth of this January.”

This year’s edition of Davos carries the slogan “Restoring Confidence,” and will focus on the conflict in the Gaza Strip, along with issues of global concern, such as climate and artificial intelligence. The forum is supposed to witness the participation of heads of 100 governments and representatives of 1,000 international organizations.

Government spokesman Bassem Al-Awadi had confirmed earlier today, Saturday, that the Council of Ministers session would be postponed to tomorrow, Sunday, instead of Tuesday, which witnesses the holding of the Council’s regular sessions every week. link

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Tishwash: A thousand dinars angers the owners of the payroll outlets in Amara.. Pictures from the protest against Al-Rafidain

"Retirees can't bear it anymore"

Maysan

On Sunday, the owners of outlets for disbursing the salaries of retirees and employees in Maysan organized a protest against a new commission of one thousand dinars imposed by the Rafidain Bank, on withdrawing nationalized salaries, in addition to the previous 3 thousand dinars deducted in exchange for the service of withdrawing one million dinars from the salary.

the details

Rafidain Bank imposed a commission of one thousand dinars on every million withdrawn from salary delivery outlets, in addition to 3 thousand dinars imposed previously, which angered the outlet owners who organized a protest in front of the bank’s branch in Amara.

Haider Abd Falhi - Demonstration Coordinator:

There are 3 things that Rafidain Bank must change, the most prominent of which is adding a thousand dinars commission, which will be a new burden on employees and retirees, and this is what we reject.

In addition, the bank deducts an amount of 3,000 dinars for every withdrawal from the outlets, and this causes us huge losses.

There are matters that the Rafidain Bank has not resolved, most notably the recovery of damaged currency from salaries, and the compensation of outlet owners for the recurring shortage in the amounts received from the bank, and this is what the Rafidain Bank has not yet acknowledged.

Sabah Salem - outlet owner:

The outlet owners deposited deposits in the Rafidain Bank several years ago at a rate of 5 million dinars, which have not been returned yet.

There is rough treatment with outlet owners within the bank, and it would have been better for us to be dealt with in a better way than that, because we conduct large and continuous financial transactions with the bank.

Bassem Muhammad - Director of Al-Rafidain Bank in Al-Amarah:

We cannot change the procedures issued by the public administration in Baghdad, and responding to these protests is within its jurisdiction only. link

Mot: Nope...I'm pretty certain he's forgotten SOMETHING!

Mot: .... Hay!! -- I Can Use un Too!! ---