Iraq Economic News and Points to Ponder Wednesday Evening 1-31-24

Iraq Economic News and Points to Ponder Wednesday Evening 1-31-24

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Calls On The Government To Get Rid Of The Dominance Of The Dollar And Diversify The Monetary Reserve

Wednesday, January 31, 2024 Baghdad/National News Center  Parliamentary Finance calls on the government to get rid of the dominance of the dollar and diversify the monetary reserve   https://nnciraq.com/248492/

The Central Bank Expects Dollar Prices To Decline In The Middle Of This Year

Economy | 01:41 - 01/31/2024  Mawazine News - Baghdad,  former official in the Central Bank of Iraq, Faleh Dawoud, said that the exchange rate of the US dollar will fall to less than 1,500 Iraqi dinars by next June.

Faleh Daoud said in a statement followed by Mawazine News, “The dinar’s exchange rate depends on the market and demand, because the currency market plays a role in its price, not the central bank,” noting that “the recent actions of the US Treasury Department and the Federal Reserve regarding transferring the dollar to Iraq caused... In the decline in the value of the currency, which is the reason for the instability of the dinar against the dollar.”

He explained, "Relying on the electronic platform had a positive side effect on the exchange rate against the dollar and created quasi-stability in the dinar's exchange rate, and it may rise slightly by next June."

He noted that "the dinar's exchange rate in the coming days will depend on the market and the demand for the dollar, and that there is a gap between the demand for American policy and the supply of dollars, and that the central bank's policy since the second half of 2023 has been bilateral agreements with countries to trade in local currencies."

He continued, "According to my information, trade exchange between Iraq and Turkey is now in the Turkish lira in addition to the dollar, and the agreement was successful," according to Faleh Daoud, who added: "This will give indirect control over the issue and Turkey will obtain dollars if necessary."

He pointed out "the necessity of forming a special joint committee between the Central Bank of Iraq, the Money Laundering Office, the Federal Reserve Bank, and the US Department of the Treasury to recommend imposing sanctions on Iraqi banks."

He stated, “Al-Huda Bank was licensed before 2010,” wondering: “What investigation will be conducted in 2024? What are the charges of which it was convicted and why was the Central Bank of Iraq not opened and held accountable?”   https://www.mawazin.net/Details.aspx?jimare=241378

Central Bank Governor: We Prevented Banks And Companies From Obtaining The Dollar... And Work On The Electronic Platform Will End During The Current Year

Wednesday 31, January 2024 17:22 | Economical Number of readings: 629  Baghdad / NINA / The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”

Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”

He added: "The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar."

Al-Alaq continued: “The US Treasury praised the Central Bank’s provisions for banks, which included conditions and standards for external transfers and the opening of accounts with internationally accredited foreign banks,” denying the issuance of decisions by the US Treasury to punish a number of Iraqi banks with the exception of Al-Huda Bank and the Chairman of its Board of Directors./ End

https://ninanews.com/Website/News/Details?key=1104117

The Central Bank Denies The Issuance Of Decisions By The US Treasury To Punish A Number Of Iraqi Banks

Economy | 05:17 - 01/31/2024  Mawazine News – Baghdad  Central Bank Governor Ali Al-Alaq denied today, Wednesday, the inclusion of other Iraqi banks under US Treasury sanctions.

Al-Alaq said in an interview, followed by Mawazine News: “There is a big difference between including a bank on the sanctions list by the Office of Foreign Assets Control (OFAC) and stopping a bank from dealing in dollars, which does not represent a punishment as much as it motivates the bank to adhere to local and international requirements in Compliance and combating money laundering and terrorist financing.

He added, "Banks can correct their positions and obligations required to enter into their foreign transactions in a way that ensures the safety of the local and international system from risks."

He pointed out that "talk about the issuance of decisions by the US Treasury to punish a number of Iraqi banks is inaccurate, and what was issued recently only relates, so far, to Al-Huda Bank and the Chairman of its Board of Directors."

He pointed out that "the US Treasury praised the Central Bank's regulations for banks, which included conditions and standards for external transfers and opening accounts with internationally accredited foreign banks."

He explained that “what is mentioned regarding other banks is that the Central Bank, in continuous operations, deprives some banks for reasons related to factors or issues of compliance with instructions, controls, and rules for combating money laundering and terrorist financing,” noting that “there is a Fines and Penalties Committee that issues dozens of decisions weekly, especially since and after the platform was implemented.” Electronic banks have become obligated and required to follow compliance rules and sound international standards.”

Al-Alaq stressed that “the Central Bank has continuous reviews from time to time and issues decisions to prevent banks from dealing in the dollar with the aim of ensuring that compliance is at the required level and within international standards,” noting that “there are decisions taken against a number of banks and dozens of exchange companies and preventing them from accessing...

The dollar after recording notes on it. Also, in order for banks to be able to carry out external transfer operations or sell the dollar, they must have a response to compliance requirements and international standards, and whoever records that they do not meet such requirements will be prohibited from dealing in the dollar, not as a punishment for those banks, but rather as an incentive for them to implement the standards. International".   https://www.mawazin.net/Details.aspx?jimare=241390

Minister Of Finance: We Are Adopting A Promising Development Program That Is Consistent With The Provisions Of The Government Curriculum

Wednesday 31, January 2024 | Economical Number of readings: 620  Baghdad / NINA / Minister of Finance, Taif Sami Muhammad, confirmed: “The Ministry is adopting a promising development program that is consistent with the adoptions of the government approach aimed at correcting the financial and monetary policy.”

The Ministry stated in a statement: “The Minister met today in her office with a parliamentary delegation that included MPs (Donia Al-Shammari, Nermin Masoud, Hoda Thamer, Tariq Al-Khikani, Hassan Al-Khafaji, Fatima Al-Hawi, Iman Al-Obaidi, Haider Al-Shamkhi, Hassan Al-Masoudi, Saad Awad, Muhammad Al-Rumaithi, Ali Al-Bandawi, Hoda Al-Nashi, Mudar Al-Karawi).

The Minister of Finance expressed her welcome to the visit of members of the House of Representatives, which comes within the framework of maintaining communication and strengthening the principles of partnership between the executive and legislative authorities.

During the meeting, a number of common files were discussed and it was agreed to intensify the level of cooperation and coordination between the two institutions.

The Minister also reiterated her confirmation that the Ministry has adopted a promising development program consistent with the adoptions of the government curriculum aimed at correcting the financial and monetary policy, which is achieved with the support and assistance of the legislative authority, in the interest of advancing the economic and financial reality, achieving the elements of sustainable development, and providing services to citizens. https://ninanews.com/Website/News/Details?key=1104114

During The Month Of January.. Iraqi Stock Market Indices Rise By 7.70%

Money  and business  Economy News – Baghdad  In the last session of January 2024, the traded stock price index closed at (961.95) points, an increase of (7.70%) from the close of December 2023 of (893.15) points.

The Iraq Stock Exchange organized (22) trading sessions in January 2024, which lasted from Sunday to Thursday every week.

The number of shares traded reached (59,065,589,502) shares, with the value of shares traded reaching (58,790,441,773) dinars, and the number of contracts executed reached (19,611) contracts.

The number of companies listed in the market reached (103) joint-stock companies, and trading is carried out through (38) brokerage companies from their headquarters spread in Baghdad using main platforms that regulate the percentages of change for each type:

•The Regular M platform, and the percentage change in price is 15% of the previous closing price

•The second platform, Second M, and the percentage of change in price is 20% of the previous closing price.

•The third platform – the platform for companies with the least disclosure, and the percentage of change in price is 5% of the previous closing price.

• The government bonds platform in which Emaar bonds ((first issue)) were listed.

•ISX-OTC Unlisted Companies Platform: The platform was launched on 1/2/2024, and the number of companies registered in it is as high as the Securities Commission’s approval. Finance (2) joint stock companies and (2) other companies are still under audit for the purpose of inclusion.

114 views 01/31/2024 - https://economy-news.net/content.php?id=40009

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

Top 100 Inspirational Quotes  Compiled By Kevin Kruse 

 Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even  give us the courage to pursue our life’s dreams.  In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.

 So in the spirit of self motivation, here are 100 inspirational quotes.

 76. If you want your children to turn out well, spend twice as much time with them, and half as much money. – Abigail Van Buren

77. Build your own dreams, or someone else will hire you to build theirs. – Farrah Gray

 78. The battles that count aren’t the ones for gold medals. The struggles within yourself – the invisible battles inside all of us – that’s where it’s at. – Jesse Owens

 79. Education costs money.  But then so does ignorance. – Sir Claus Moser

 80. I have learned over the years that when one’s mind is made up, this diminishes fear. – Rosa Parks

http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/ 

"Tidbits From TNT" Wednesday 1-31-2024

 TNT:

Tishwash:  Chambers of Commerce: Government support attracted many countries to establish economic relations with Iraq

The Federation of Chambers of Commerce announced today, Wednesday, that the private sector witnessed a significant recovery in 2023, stressing that government support for the sector worked to attract countries to establish strong economic relations with Iraq.

The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, told the Iraqi News Agency (INA): “The private sector in Iraq witnessed a significant recovery during the year 2023, due to government support, in addition to the financial and monetary recovery in all Iraqi banks.”

He stressed, "The great government support for the private sector has had a positive impact on the influx of many countries to Iraq, to ​​establish strong economic relations." 

He pointed out, "The BRICS economic phenomenon has become a reality in changing the economic world in the world, as the dollar and the euro are no longer the main currencies in financial dealings   link

Tishwash:  235 ATMs to be installed in Erbil

The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically.

About 80 service centers will be installed in Erbil to accommodate approximately 235 ATMs from various banks. 

The infrastructure is intended to enable Kurdistan Regional Government (KRG) civil servants to receive their salaries electronically.

The establishment of ATM stations in banks and the redistribution of some civil servants to banks are indications of the expansion of the MyAccount Initiative. 

The civil servants, who are employees of the KRG, can make withdrawals and deposits at the select ATMs.

Currently, the distribution of bank cards to employees is being carried out through 10 state-owned banks. 

Marwan Ahmad, supervisor of the project, told Kurdistan24 on Monday that approximately 25,000 accounts have been successfully registered for their owners thus far.

Ahmad also mentioned that they are currently working on coordinating with banks to install the ATMs at the stations.

The pilot project is expected to be finalized in 2025 to integrate all civil servants into the digital payment system.

The government’s Department of Information Technology (DIT) designed, tested, piloted, and implemented a secure application for onboarding KRG employees into the program in line with the Central Bank of Iraq’s Know-Your-Customer (KYC) needs, according to a press release previously shared with Kurdistan24.

It is believed that there are four banks offering services for the program: Ashur, BBAC, Cihan, and RT.

Erbil currently has ATMs from five private banks, namely RT Bank, Cihan Bank, Ashur International Bank, National Bank of Iraq, and BBAC Bank, all of which are synchronized with MyAccount, except for the National Bank of Iraq.  link

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CandyKisses:  Sudani receives official invitation to visit Tunisia

The media office of Prime Minister Mohamed Shia al-Sudani announced on Tuesday that the latter received an official invitation to visit Tunisia, which he promised to meet as soon as possible.

This came during a meeting with the Ambassador of the Republic of Tunisia to Iraq, Shukri Latif, according to the Sudanese Media Office.

During the meeting, they discussed the horizon of joint cooperation between the two countries and ways to strengthen relations at various levels and fields, in the interest of the Iraqi and Tunisian peoples, the statement said.

The statement added that Ambassador Shukri Al-Latif conveyed the greetings of Tunisian Prime Minister Ahmed Saleh Al-Hachani to the Sudanese and his appreciation of Iraq's positions, and the sincere desire to expand the strategic partnership and strengthen the friendship between the two countries, which is adopted by Tunisian President Kais Saied.

The statement pointed out that the ambassador carried to the Sudanese a written message from Al-Hashanni, which included an official invitation to the Iraqi Prime Minister to visit Tunisia, in order to discuss ways to diversify areas of cooperation and raise them to the highest levels, and to confirm the trend towards constructive joint work.

The statement noted that Al-Sudani expressed his appreciation for the invitation and its response at the earliest possible opportunity, stressing the importance of mutual support in international forums and Tunisia's position on the Palestinian cause.

Al-Sudani also renewed the call for Tunisian companies to participate in projects, investment opportunities and infrastructure construction in Iraq, and the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad.

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CandyKisses:  Including Saudi Arabia and the UAE. Iran cancels visas with 28 countries

Baghdad Today - Follow-up

Today, Wednesday (January 31, 2024), the Iranian Ministry of Foreign Affairs announced the unilateral cancellation of entry visas for nationals of 28 countries, including Gulf countries.

The ministry said it had "decided to unilaterally cancel the entry visa through airports for nationals of 28 countries, including Saudi Arabia, the United Arab Emirates, Qatar, Bahrain and Kuwait."

"The decision to unilaterally cancel visas is actually a speech to the peoples of the world, as Iran has shown that it is ready to open its doors to the people of the world and provide them with more facilities so that they can visit Iran easily and enjoy its advantages," said Iranian Tourism Minister Ezzatollah Derghami.

Mot: .. the Good ole Daze!! --- siiggghhhhh

Mot: .. pooooor ole ""Earl"" 

Goldilocks' Comments and Global Economic News Wednesday AM 1-31-24

 Goldilocks' Comments and Global Economic News Wednesday AM 1-31-24

Good Morning Dinar Recaps,

Protocol 20 Update:
In response to ecosystem feedback about a bug discovered last week in Stellar Core v20.1.0 that could have impacted applications using fee bumps to sponsor Soroban transactions, Stellar network validators postponed the Protocol 20 upgrade vote.

As soon as a new version of Stellar Core is available — which should be February 2 — we will once again encourage the ecosystem to upgrade relevant software — in this case, that’s limited to Stellar Core, Horizon, and RPC — and, if they choose, to arm validators for a February 20 upgrade vote.

Here’s the new timeline for the Protocol 20 rollout…   Key dates:

February 2: Core 20.2 Release Candidate
February 6: Core 20.2 Stable Release and Testnet Reset + Upgrade
February 20: Target Vote on Protocol 20 Upgrade Vote + Phase 0

To ensure network performance and stability, smart contract functionality will be rolled out in phases. Initially, if and when validators approve the upgrade to Protocol 20, network resource limits will be too low to support production-level use. Validators will increase them based on feedback from network operators, then again based on feedback from smart contract developers, until finally, they are high enough to allow users to take full advantage of the new functionality.

Read about the decision (https://stellar.org/blog/developers/our-decision-to-disarm-validators-and-vote-to-postpone-the-protocol-20-upgrade) and get involved in the Discord (https://discord.com/channels/897514728459468821/1200432249594707998) and dev-mailing list  (https://groups.google.com/g/stellar-dev/c/-IOCsnqLLwI/m/h1TAg8A5CQAJ?pli=1)channels to keep up with the conversations.

For more info, see the blog post (https://stellar.org/blog/developers/the-stellar-network-s-phased-rollout-of-smart-contracts-the-road-to-mainnet) detailing the phased rollout plan.   Stellar Blog

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"OKX Ventures Announces Investment in bitSmiley, a Stablecoin Protocol in the Bitcoin Ecosystem"

Bitcoin is a store of value coin. On its own, it does not scale the new Quantum Financial System. This is why the BRC-20 protocol is necessary.

When a request is made for the use of a Bitcoin store of value, a fungible digital asset is created on the Bitcoin blockchain. Here, BITUSD coins are minted to fulfill transactions on the Bitcoin blockchain.

BitUSD coin is over collateralized due to the volatile nature of Bitcoin, and a person can buy lending insurance to cover the cost during the times of price volatility to keep their Bitcoin's price at a stable rate. This insurance keeps a situation from being necessary to liquidate a person's Bitcoin assets. Thus, this enables the use of Bitcoin as a stablecoin through BITUSD possible.

Bitcoin goes through bitSmiley, a company that provides comprehensive Bitcoin DeFi solutions for coins needing extra support in creating decentralized protocols on the new Web 3 application in financial functions for the QFS.

In other words, Bitcoin goes through the BRC-20 protocol to enable bitUSD to scale the Quantum Financial System as a stablecoin.

Ethereum has a similar setup. ERC-20 tokens are cryptocurrencies built on the Ethereum Blockchain. They are digital tokens representing shares in a company or virtual assets. 

So, here we have it. We have a stablecoin interface that can scale the QFS through Bitcoin and a smart contract program through Ethereum that can process the transaction.

Spot Ethereum ETF is currently in review for adoption in May of 2024. Each of these spot ETFs have several companies underneath them that connect to these protocols allowing the operation of our new Digital Asset Based Trading System to function.

© Goldilocks
FintechFutures 1
FintechFutures 2
Investopedia 1
Techopedia
Investopedia 2
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Did you ever think that you would see the day when Bitcoin would be used as a stablecoin for payments? It's here.

© Goldilocks

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What Are Stablecoins? | Back to Basics | https://youtu.be/PWvAINFwkbk?feature=shared

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Look for a stablecoins to come into the forefront on the new QFS. Stablecoins give each country's currency a value as a virtual asset on the new digital economy.

Stablecoins are collateralized by gold and other assets to give them a stable value. This is how the Global Currency Reset is being done.

As we watch this process, you will notice how the next building phase of our digital economy is going to level the playing field inside a Global Currency Reset.

This phase of development on the QFS will take the digital economy and interface itself with the banking system through Basel 3 Capital requirements.

Things will begin to move much faster going forward as networks from around the world begin their process of connecting their Quantum Technologies together.

This is why Protocol 20 is so important to get right, and why, they're working on current bugs in the system. It is important that we keep in prayer the technological servants who are building this new Global Economic Network for us. Their groundbreaking discoveries and movements into the digital economy are literally efforts that are transforming the way we live.

© Goldilocks

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It is important to take time to express my deepest thanks to Freedom Fighter who listens to me go over what we talk about in this room each day.

He brings to you a voice and opportunity to interact with these concepts building the new Financial System in a way that is easier for you to understand.

And, I am very Lucky to have another friend who has been listening to me for some time since the beginning of putting this new Financial System together bore her with the details of its conception.

These reflective moments with my friends give me the opportunity to voice what I need to be heard, so you can get an understanding of where we are going.

Thank you my friends.

© Goldilocks

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Ethereum ETF Approval Expected in May, Standard Chartered Predicts | Bloomberg

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Transcript of January 2024 WEO Update Press Briefing | IMF

"So you put all of this together, and what we are seeing, and we are agreeing with that assessment, is central banks holding off on easing until maybe the second half of 2024. And then that's when we anticipate that the Federal Reserve, the European Central Bank, the Bank of England, and others might start easing. Including the South African Reserve Bank, by the way."
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Harvest Global Investment Shows Interest in HK Stablecoins, Spot BTC ETF: Reports | Coin Desk

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There may be one last chance to buy BTC at ‘bargain’ prices — Rekt Capital | Coin Telegraph

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Next Bitcoin Halving 2024 Date & Countdown [BTC Clock] | BuyBitcoinWorldwide

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Foreign Exchange Announcement:

"The United Arab Emirates' central bank marked a significant milestone by executing a $13.6 million cross-border digital dirham transfer to China via the mBridge central bank digital currency (CBDC) platform. Learn how this multinational collaborative effort is reshaping cross-border transactions."

mBridge (Multiple CBDC Bridge) is a multi-CBDC platform. It was developed to support real-time peer-to-peer, cross-border payments, and foreign exchange transactions using CBDCs.

This transfer of money from UAE to China took place on January 29th, 2024. It went through seamlessly and successfully digitally completing this transaction between two countries.

It was a significant amount of money being used in this transaction to test large transactions on the QFS.

The mBridge platform key has the ability to onboard multiple commercial banks from each in the network that is connected together.  Coinnounce

© Goldilocks

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Asia’s Prospects for A Soft Landing Have Improved | IMF

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MilitiaMan: Iraqi Dinar - Empowering the Iraq Economy - Adjusting the Exchange Rate - Cancel Currency Auction

Iraqi Dinar - Empowering the Iraq Economy - Adjusting the Exchange Rate - Cancel Currency Auction

MilitiaMan and Crew:  1-30-2024

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=hF4RM6cznRQ

Goldilocks' Comments and Global Economic News Tuesday Evening 1-30-24

Goldilocks' Comments and Global Economic News Tuesday Evening 1-30-24

Good Evening Dinar Recaps,

"China is rallying the Group of 77 developing countries to push for reform of the global governance system which – according to some leaders in Africa, Asia, and Latin America – disproportionately favours the West."

The IMF has a transformative role in our Global Economy. Do you remember all of the article fours that have been taking place since the pandemic began?

Each country around the world has been meeting with the IMF and preparing for a Global shift inside the new economy by getting prepared through Basel 3 requirements in their banking system.

The World Bank and IMF have a crucial role going forward in the implementation of a new BRETTON WOODS 3 agreement. 

Each country that has been meeting with the IMF have been working on creating a self-sustaining government supported by capital requirements and gold that will enable them to become a productive country on a Level Playing Field with the countries they trade with around them.

This will give them a competitive Global Currency Exchange rate capable of allowing them to trade with any country around the world. Modern Diplomacy Cryptopolitan
© Goldilocks
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"Today, the U.S. Department of the Treasury is using powerful tools to protect the Iraqi and international financial system from abuse by terrorist financiers, fraudsters, and money launderers."

The Office of Foreign Assets Control (OFAC) is currently involved with Iraq to make their electronic transactions safe and secure in order that the international banking system will develop a level of trust once again.

With the help of artificial intelligence, the US is currently capable of targeting people and institutions who are abusing the financial system in Iraq. The ability to sanction specific people and targets of interest through artificial intelligence takes us to a much different place than before in our ability to create a safe environment for exchanges in Iraq and those who trade with them.

These new mechanisms will be used all over the world to create specific tools targeting terrorist transactions going forward. We live in a different world my friends.   

© Goldilocks
https://home.treasury.gov/news/press-releases/jy2053

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The Central Bank of Iraq revealed that the US Treasury Department imposed sanctions on Al-Huda Bank of Iraq, attributing the reason to its activities in 2022.

The Central Bank of Iraq stated that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that it is continuing to provide its services. Banking without dealing in US dollars and is allowed to deal in other foreign currencies.

Central Bank of Iraq  Information Office   30 -  CBI:  https://cbi.iq/news/view/2509

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The stage is being set. Protections for Iraq to have a "suitable environment for entry into the Global Economy" are continuing to develop.

Do you remember when the CBI said these words? We are bearing witness to them having been said long ago.  These were the words that were said to let us know when they were planning to move back into the international stage.  History is coming full circle and revealing itself to us in so many ways.

© Goldilocks

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BRICS & BITCOIN: THE DUO SET TO DETHRONE THE DOLLAR IN 2024 – MORGAN STANLEY   |   Cryptopolitan

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VeChain, a blockchain industry leader, has set its sights on using Distributed Ledger Technology (DLT) to transform global supply chains. As highlighted in a recent Crypto News Flash YouTube video, VeChain, which specializes in supply chain management systems, uses blockchain technology to provide decentralization, immutability, automation, and transparency to industries throughout the world.
CryptoNewsFlash Link

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In the realm of digital payments, India has witnessed a monumental shift, spearheaded by the Unified Payments Interface (UPI). As of December 2023, UPI recorded a staggering 857 million transactions in the current financial year, a testament to its dominant role in India’s digital payment landscape, commanding an impressive 62 percent market share in FY 2022-23. This surge in UPI transactions is a clear indicator of the country’s move towards a digitalized economy.  Jamaica Observer

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"Futures positioning indicates investors have started to buy China stocks" |  Investing
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BRICS vs G7 Iraq's Position #iqd Exchange Rate | https://youtu.be/fCwYLa0pgmA?feature=shared

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SEC likely to approve spot Ethereum ETFs on May 23: Standard Chartered | The Block

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Iraq Economic News and Points to Ponder Tuesday Afternoon 1-30-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 1-30-24

Tlm724 Administrator Bondlady’s Corner

Saleh Reveals The Reason For The Limited Rise And Fluctuation Of The Dollar Exchange Rate Recently

Time: 01/30/2024 08:14:41 Read: 1,638 times  {Economic: Al-Furat News} The Prime Minister’s Advisor for Financial and Economic Affairs, Mazhar Muhammad Saleh, revealed the limited rise and fluctuation of the dollar’s ​​exchange rates recently.

Saleh said in a press statement, “The issue is related to regional security tensions, which provide colored or ambiguous information that affects the decisions of speculators in the secondary exchange market when buying and selling, which prompts them to hedge with a point or two above the current market transaction prices or trading prices in such cases.” People are used to it."

He explained that it is “behavior practiced by speculative forces to achieve emergency or estimated profits under the pretext of misfortune and fear, because the decisions of this market are based on various information as inputs that influence the decisions of those dealing in it. Therefore, these markets are considered among the most sensitive financial markets and live in their daily speculation on news, rumors, and conflicting information.” To determine prices, which is a cost that disappears when the influencer disappears.   LINK

The Central Bank Of Iraq Explains Why America Imposed Sanctions On Al-Huda Bank

On Tuesday, the Central Bank of Iraq revealed that the US Treasury had imposed sanctions on the Iraqi Al-Huda Bank, attributing the reason to its activities in 2022.

The Central Bank of Iraq stated in a statement today that the bank did not participate in the foreign currency buying and selling window during the year. 2023, stressing that it continues to provide its banking services without dealing in US dollars and is allowed to deal in other foreign currencies.

Yesterday, Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as it is a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”

According to the US Treasury statement, Al-Huda Bank has for years exploited its access to US dollars to support designated foreign terrorist organizations including the Iranian Revolutionary Guard, as well as Iraqi militia groups allied with Iran including Kataib Hezbollah and Asaib Ahl al-Haq.

The statement noted, “The Chairman of the Board of Directors of Al-Huda Bank is complicit in Al-Huda Bank’s illicit financial activities, including money laundering through front companies that hide the true nature of the parties involved in the illicit transactions, which ultimately enables the financing of terrorism.”   https://www.radionawa.com/all-detail.aspx?jimare=37204

The Dollar Continues To Rise Against The Dinar In The Local Market

Time: 01/30/2024 16:51:00 Read: 1,261 times  {Economic: Al-Furat News} The prices of the US dollar rose against the Iraqi dinar, today, Tuesday, in Baghdad, with the stock market closed.

With the closure of the main Kifah and Harithiya stock exchanges in Baghdad, dollar prices recorded 152,900 Iraqi dinars against 100 dollars, while they recorded 152,000 Iraqi dinars against 100 dollars in the morning.

Selling prices in banking shops in local markets reached 154,000 dinars for 100 dollars, while purchasing prices reached 152,000 dinars for 100 dollars.  LINK

Planning: Iraqi Per Capita Income Reaches 8 Million Dinars Annually And Will Increase This Year

Time: 01/30/2024 00:50:45 Read: 2,574 times   {Economic: Al-Furat News} The Ministry of Planning confirmed that the average per capita income for the past year 2023 amounted to approximately 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, expecting that “the average per capita income for the current year 2024 will witness a noticeable improvement.”

In a picture confirming an improvement in the national economy, the Ministry of Planning stated, “The measures of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and it decreased in the year 2022 to (5 percent) Then in the year 2023, the inflation rate was 4.4, meaning less than 4 and a half percent.”

The ministry’s official spokesman, Abdul Zahra Al-Hindawi, said, “The average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population.

Thus, we are talking about a rate or average annual income per capita that ranges between 7 to 8 million dinars per capita during the past year.” 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues.”

Al-Hindawi pointed out that the per capita income of 7 to 8 million dinars does not include the entire population, as the individual does not receive the same income or equally, but there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3. Millions or five million dinars. There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually.

He pointed out that "the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job. As a result, his annual income increases or decreases according to these factors," indicating that "the improvement in income rates is also related to the level of services that the individual obtains from... Water, electricity, sanitation, transportation methods and other requirements.”   LINK

The Stock Market Closed Up By 1.07%

Economy News – Baghdad  The Iraqi Stock Exchange closed up by 1.07%, today, Tuesday, after the great support it received from banking and real estate stocks.

The stock exchange traded 1.1 billion shares worth 1.3 billion dinars through concluding 664 deals on the shares of 44 companies.  Views 60   01/30/2024  https://economy-news.net/content.php?id=39962

Fears Of Supply Shortages Are Pushing Oil Prices Higher

Economy | 08:57 - 01/30/2024   Mawazine News – Baghdad  Oil prices rose in early trading on Tuesday, with continued supply concerns due to escalating geopolitical tensions in the Middle East.

Brent crude futures rose 25 cents, or 0.3%, to $82.65 per barrel, and US West Texas Intermediate crude rose 31 cents, or 0.4%, to $77.09 per barrel.

Both contracts fell more than a dollar yesterday, Monday, as the worsening real estate crisis fueled concerns about Chinese demand, after a Hong Kong court ordered the liquidation of the giant China Evergrande Real Estate Group.   https://www.mawazin.net/Details.aspx?jimare=241300

Al-Sudani Renews His Call For Tunisian Companies To Invest In Iraq

Reconstruction and building  Economy News – Baghdad   Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, while stressing the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad.

The Prime Minister's Media Office stated, in a statement received by Al-Eqtisad News, that "Al-Sudani received the Ambassador of the Republic of Tunisia to Iraq, Shukri Al-Latif, where, during the meeting, they discussed the horizon of joint cooperation between the two brotherly countries, and ways to strengthen relations at various levels and fields, in a way that would benefit "In the interest of the Iraqi and Tunisian peoples."

Ambassador Shukri Latif conveyed the greetings of Tunisian Prime Minister Ahmed Saleh Al-Hashani to Al-Sudani, his appreciation for Iraq’s positions, and the sincere desire to expand the strategic partnership and strengthen friendship between the two countries, which Tunisian President Kais Saied espouses, according to the statement.

He also conveyed to Al-Sudani a written message from Al-Hashani, which included sending an official invitation to the Prime Minister to visit Tunisia, in order to discuss ways to diversify areas of cooperation, raise them to the highest levels, and confirm the trend towards constructive joint action.

The Prime Minister expressed his "appreciation for the invitation and responding to it as soon as possible," stressing "the importance of mutual support in international forums and Tunisia's position on the Palestinian issue."

Al-Sudani also renewed his "invitation to Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, and the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad."

Views 62 01/30/2024 - https://economy-news.net/content.php?id=39961

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

Top 100 Inspirational Quotes  Compiled By Kevin Kruse 

 Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even  give us the courage to pursue our life’s dreams.  In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.

 So in the spirit of self motivation, here are 100 inspirational quotes.

66. I didn’t fail the test. I just found 100 ways to do it wrong. – Benjamin Franklin

 67. In order to succeed, your desire for success should be greater than your fear of failure. – Bill Cosby

 68. A person who never made a mistake never tried anything new. – Albert Einstein

69. The person who says it cannot be done should not interrupt the person who is doing it. – Chinese Proverb

70. There are no traffic jams along the extra mile. – Roger Staubach

71. It is never too late to be what you might have been. – George Eliot

72. You become what you believe. – Oprah Winfrey

http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/

Goldilocks' Comments and Global Economic News Tuesday AM 1-30-24

Goldilocks' Comments and Global Economic News Tuesday AM 1-30-24

Good Morning Dinar Recaps,

"Today, the U.S. Department of the Treasury is using powerful tools to protect the Iraqi and international financial system from abuse by terrorist financiers, fraudsters, and money launderers."

The Office of Foreign Assets Control (OFAC) is currently involved with Iraq to make their electronic transactions safe and secure in order that the international banking system will develop a level of trust once again.

With the help of artificial intelligence, the US is currently capable of targeting people and institutions who are abusing the financial system in Iraq. The ability to sanction specific people and targets of interest through artificial intelligence takes us to a much different place than before in our ability to create a safe environment for exchanges in Iraq and those who trade with them.

These new mechanisms will be used all over the world to create specific tools targeting terrorist transactions going forward. We live in a different world my friends.    

© Goldilocks

https://home.treasury.gov/news/press-releases/jy2053

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CHICAGO--(BUSINESS WIRE)--Federal Reserve Financial Services today announced the launch of FedDetect Anomaly Notification for FedACH® Services, a new risk management service that helps financial institutions identify anomalous activity and supplement their fraud detection and alerting tools. This new addition to FedACH Risk® Management Services allows financial institutions to receive notifications via secure email when anomalous FedACH activity is detected.

“This service will put timely information into the hands of financial institutions about anomalies that arise in day-to-day FedACH transactions,” said Mark Gould, FRFS chief payments executive. “We know our customers are increasing their investment in risk management tools, and we’re excited to offer another solution at no additional cost that helps them quickly address potential fraud and improve operational efficiency.”  BusinessWire

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A Paradigm Shift in Estate Planning: The Fully Decentralized Blockchain Trust™ - Newstrail

In a groundbreaking leap forward, the Blockchain Trust™ has transitioned from a visionary concept to a fully Decentralized reality, ushering in a new era of estate planning and asset protection. This innovative platform blends the timeless principles of a traditional trust with the cutting-edge capabilities of blockchain technology, presenting a secure, adaptable, and private solution for managing estates in the digital age.

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What Is Digital Asset Trading? Digital assets are anything created and stored virtually, which are perceived to have value. Powered by blockchain technology, digital assets include cryptocurrencies, non-fungible tokens (NFTs), asset-backed tokens and tokenized real estate.Nov 17, 2022  |  Caleb & Brown

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"Tidbits From TNT" Tuesday 1-30-2024

TNT:

Tishwash:  The Bank of Jordan links Iraq through an electronic system with four Arab countries

The Bank of Jordan announced, today, Tuesday, the opening of its branch in Iraq, confirming that Iraq is linked to an electronic system with four Arab countries, while indicating that the Central Bank is making great efforts to develop the banking sector in Iraq.

The General Manager of the Bank of Jordan Group, Saleh Hammad, told the Iraqi News Agency (INA): “Iraq includes a strategic investment market that has all the elements of a successful investment, so we are keen to be present in this market that leads to joint investments between Iraq and Jordan.” .

He explained, "Joint investments need financial products and services that meet all the requirements of various segments of businessmen, investors, and companies. Therefore, the value that any external institution will add to Iraq is the new technology that it can introduce on the basis of providing financial services.

He continued, "Financial services are not limited to technological luxury, but have become one of the basics of financial institutions, to improve their services and digital transformation, to meet customers' needs around the clock."

He pointed out that "the Bank of Jordan seeks, through its presence in Iraq, to ​​meet the needs of its customers, whether Iraqis or Jordanians, by exploiting its network and electronic systems in the region of the Arab countries in which it is located."

He stated, “The Bank of Jordan is present in many Arab countries, including Iraq, Palestine, Bahrain, and Syria, and now we are in the process of opening a branch in the Kingdom of Saudi Arabia. Therefore, we see that there is integration and trade exchange between these countries in an electronic system, where the customer or investor can view... This system and the exchange of his money very easily,” stressing that “there are continuous efforts to improve the system existing at the Bank of Jordan.” 

Hammad stressed that "the Bank of Jordan can implement the electronic system in Iraq."
He pointed out that "there is joint cooperation with the Iraqi banking sector and the Governor of the Central Bank, and previous conferences were held between the Jordanian banking sector and the Iraqi banking sector, in order to improve the infrastructure and electronic services in Iraq."
He continued: "There were great joint efforts to provide support through existing expertise in Jordan, such as (Kalak) services, paying electronic bills, providing all requirements, and other services."

He pointed out that "the Central Bank of Iraq is making great efforts to develop the banking sector in Iraq, as it has taken a serious and strong approach to modify the system, and I believe that they are moving at a very good speed to shorten the time gap, to reach the ranks of developed countries with these services."

He believes that “one of the large, promising markets is the trade exchange between Iraq and Jordan, due to the geographical proximity between the two countries, so shipping and transportation operations are very easy, and this is what we seek in economic integration, which could generate a nucleus for investments that can compete in the Arab region.” link

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Tishwash:  Al-Sudani renews his call for Tunisian companies to invest in Iraq

Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, while stressing the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad.

The Prime Minister's Media Office stated, in a statement received by Al-Iqtisad News, that "Al-Sudani received the Ambassador of the Republic of Tunisia to Iraq, Shukri Al-Latif, where, during the meeting, they discussed the horizon of joint cooperation between the two brotherly countries, and ways to strengthen relations at various levels and fields, in a way that would benefit "In the interest of the Iraqi and Tunisian peoples."

Ambassador Shukri Latif conveyed the greetings of Tunisian Prime Minister Ahmed Saleh Al-Hashani to Al-Sudani, his appreciation for Iraq’s positions, and the sincere desire to expand the strategic partnership and strengthen friendship between the two countries, which Tunisian President Kais Saied espouses, according to the statement.

He also conveyed to Al-Sudani a written message from Al-Hashani, which included sending an official invitation to the Prime Minister to visit Tunisia, in order to discuss ways to diversify areas of cooperation, raise them to the highest levels, and confirm the trend towards constructive joint work.

The Prime Minister expressed his "appreciation for the invitation and responding to it as soon as possible," stressing "the importance of mutual support in international forums and Tunisia's position on the Palestinian issue."

Al-Sudani also renewed his "invitation to Tunisian companies to participate in projects, investment opportunities, and infrastructure construction in Iraq, and the importance of economic integration and the success of the upcoming Iraqi-Tunisian committee meetings in Baghdad."    link

Tishwash:  Central Bank of Iraq: Sanctions on Al-Huda Bank due to its activities in 2022

The Central Bank of Iraq revealed that the US Treasury Department imposed sanctions on Al-Huda Bank of Iraq, attributing the reason to its activities in 2022.

The Central Bank of Iraq stated that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that it is continuing to provide its services. Banking without dealing in US dollars and is allowed to deal in other foreign currencies.

Central Bank of Iraq
Information Office
30 - January – 2024  link

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CandyKisses:  Red Sea crisis delays supplies 10-15 days in Barcelona port

Economy News Follow

The head of the port of Barcelona said on Monday that the arrival of ships is delayed for between ten and 15 days in the Spanish port because they have to circumvent Africa to avoid possible attacks in the Red Sea.

He told reporters that the delay was affecting ships carrying all kinds of goods and cargo, including liquefied natural gas.

Barcelona is one of Spain's largest ports with terminals handling LNG cargoes.

Since December, shipping companies have diverted hundreds of ships to the Cape of Good Hope route around Africa to avoid Houthi attacks. The journey around Africa takes ten to 14 days longer and is more expensive compared to passing through the Red Sea and the Suez Canal.

The attacks target a corridor that handles about 15 percent of global shipping traffic as a vital channel between Europe and Asia.

Mot: . Letting the ""Wee Folks"" in on the Reality of Life!!!

Mot: ... You Can Count on ole ""Mot"" fer Tips on Family Planning!!

Iraq Economic News and Points to Ponder Tuesday AM 1-30-24

Iraq Economic News and Points to Ponder Tuesday AM 1-30-24

Tlm724 Administrator Bondlady’s Corner

Experts: The Dollar Price Will Remain Volatile As Long As The Economy Is Not Stimulated

January 30, 2024 Last updated: January 30, 2024  The Independent/- Volatility has returned once again to dominate the dollar exchange rates on local stock exchanges in Iraq, after a period of “semi-stability” that dominated the market during the recent period.

The market witnessed a “limited” increase yesterday, Monday, as the exchange rate of the US dollar reached 154 Iraqi dinars compared to 100 dollars in Baghdad, and 153 dinars in Erbil in the Kurdistan Region.

Experts and specialists believe that what is happening is a temporary exploitation by some speculators who took advantage of the regional tensions in the region to benefit from buying and selling in the parallel market.

The Prime Minister’s Advisor for Financial and Economic Affairs, Dr. Mazhar Muhammad Saleh, said in an interview with Al-Sabah newspaper, which is affiliated with the Independent:

“The issue is related to regional security tensions, which give colorful or ambiguous information that affects the decisions of speculators in the secondary exchange market when buying and selling, which prompts them to hedge.” One or two points above the current market trading prices or trading prices in such cases that people are accustomed to.” He added: “

A behavior practiced by speculative forces to achieve emergency or fateful profits under the pretext of misfortune and fear,

because the decisions of this market are based on various information as inputs that influence the decisions of those dealing in it.

Therefore, these markets are considered among the most sensitive financial markets and live in their daily speculation on news, rumors, and conflicting information.” To determine prices, which is a cost that disappears when the influencer disappears.”

For his part, the rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, stated that

“the exchange rate of the dollar against the dinar will not stabilize as long as Iraq remains a country that does not have a productive apparatus, as the country depends for most of its needs on imports, which in turn depends mainly on the dollar.”. He stressed that

 “this price will remain fluctuating and changing according to political events and the forces of supply and demand.” He pointed out that

 “this small change during these two days may be due to the attack on the American base in Jordan and the threat of the American side to carry out a military operation,” and added:

“Therefore, the central bank and the government cannot control the stability of the exchange rate if they do not resort to revitalizing the Iraqi economy and moving the apparatus.” “Productive.”

For his part, economic affairs expert, Nabil Jabbar Al-Ali, pointed out that “there are now no major changes in exchange rates that could affect the market and its desires.” He pointed out that

 “what is happening now in the local market falls within the framework of the natural fluctuation of prices, and  there is not a large percentage of rise and fall that can be pointed out,  so I believe that the issue has not departed from the normal situation.”

Experts believe that stabilizing the dollar exchange rate in Iraq requires

     revitalizing the Iraqi economy,

     increasing production, and

     reducing dependence on imports.

https://mustaqila.com/خبراء-السعر-الدولار-سيبقى-متذبذباً-طا/

Central Bank Of Iraq: Sanctions On Al-Huda Bank Due To Its Activities In 2022

 January 30, 2024   The Central Bank of Iraq revealed that the US Treasury Department has imposed sanctions on Al-Huda Bank of Iraq, attributing the reason to its activities in 2022.

 The Central Bank of Iraq stated that the bank did not participate in the foreign currency buying and selling window during the year 2023, stressing that   it continues to provide its banking services without dealing in US dollars and is allowed to deal in other foreign currencies.

 Central Bank of Iraq  information Office  30 - January – 2024  https://cbi.iq/news/view/2509

Al-Sudani Stresses The Importance Of Completing The Procedures For Converting To Electronic Payment

 January 28 12:08 Information/Baghdad..  Prime Minister Muhammad Shiaa Al-Sudani directed, on Sunday, to expedite the procedures for switching to electronic payment, stressing that

 beneficiaries of electronic payment will not be burdened with any additional financial burdens or added commissions in daily transactions and simple regular payments.

 The Sudanese media office said in a statement received by Al-Maalouma that,

 “This Sunday morning, the Prime Minister chaired a meeting devoted to completing government procedures for switching to electronic payment, in the presence of the Governor of the Central Bank, the Prime Minister’s advisors for strategic, economic and banking affairs, and the Director General of Payments at the bank.” Central Bank, and directors of a number of government banks.

He added,  "The meeting discussed mechanisms for protecting citizens and preserving their rights," while Al-Sudani stressed that

"citizens who benefit from electronic payment should not be burdened with any additional financial burdens or added commissions, especially in daily transactions and simple regular payments."

Al-Sudani stressed "the importance of accelerating the procedures for switching to payment by electronic cards, in various public and private sector institutions." He pointed out,

"The meeting witnessed a discussion of the commissions that will be charged by banking entities, in order to achieve the government's goals in reforming the financial and banking sectors." Ended/25 

https://almaalomah.me/news/54598/economy/السوداني-يؤكد-أهمية-استكمال-إجراءات-التحول-إلى-الدفع-الإلكتر

The Central Bank Of Iraq Increases The Daily And Monthly Limits For Prepaid Cards (Document)

Economy     Central Bank of Iraq     new instructions  2024-01-29 08:42   Shafaq News/ On Monday, the Central Bank of Iraq issued new instructions regarding prepaid cards, including raising the daily and monthly limits inside Iraq while keeping the same limits outside Iraq.

 Deputy Governor of the Central Bank, Ammar Khalaf, said, according to a document obtained by Shafaq News Agency, “The controls on prepaid card limits will be as follows:

 First: The limits and ceilings for prepaid cards. The maximum limit is (10) million Iraqi dinars, and the ceilings for monthly refilling of the card are (10) million Iraqi dinars. It is the responsibility of banks and electronic payment service providers to refuse any refilling operations that exceed the maximum balance limit.

Second: Local financial transactions inside Iraq. The ceiling for withdrawals via automated teller machine (ATM) machines inside Iraq is two million dinars per day, or what is determined by the entity that owns the ATM, provided that it does not exceed the total monthly card balance, and the

limits for payment operations are through electronic payment gateways. Local online shopping and purchases through point-of-sale (POS) devices are included in the card’s monthly balance. Khalaf added,

  “Banks and electronic payment service providers have the freedom to set and set a financial ceiling for payment and purchase transactions made through the aforementioned channels, not to exceed the total monthly card ceiling.”

https://www.shafaq.com/ar/اقتصـاد/المركزي-العراقي-يزيد-الحدود-اليومية-والشهرية-لبطاقات-مسبقة-الدفع-وثيقة

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

Top 100 Inspirational Quotes  Compiled By Kevin Kruse 

 Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even  give us the courage to pursue our life’s dreams.  In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.

 So in the spirit of self motivation, here are 100 inspirational quotes.

62. I have been impressed with the urgency of doing. Knowing is not enough; we must apply. Being willing is not enough; we must do. – Leonardo da Vinci

63. Limitations live only in our minds.  But if we use our imaginations, our possibilities become limitless. –Jamie Paolinetti

64. You take your life in your own hands, and what happens? A terrible thing, no one to blame. – Erica Jong

65. What’s money? A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do. – Bob Dylan

http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/

MilitiaMan: Iraq Dinar - Banking Sector - International - Sustainability - Development Road - Revenue Streams

Iraq Dinar - Banking Sector - International - Sustainability - Development Road - Revenue Streams

MilitiaMan and Crew:  1-29-2024

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=VEn0XVK4abs

Iraqi News Highlights and Points to Ponder Monday Evening 1-29-24

Iraqi News Highlights and Points to Ponder Monday Evening 1-29-24

Imminent Economic Collapse!

Economical  Yasser Al-Metwally    Will The World Witness An Imminent Economic Collapse?

Global events and tensions in most countries herald a possible economic collapse. This prediction is agreed upon by most economists around the world.

Perhaps the global war scenario that was defused at the end of last year was the result of China’s rational reduction in its dealings with the Taiwan problem, and it was able in the last moments to overcome it at a time when indicators, indications, and experts’ expectations confirmed it, and the Ukrainian-Russian war was one of its most prominent causes.

Now, Israel is reproducing it and it seems that it is leading the world to something of undesirable consequence, burning the dry and green.

The war of annihilation led by Israel and its continuing insistence and brutal and sinful aggression against Gaza and the already stolen Palestinian territories has cast its shadow over the Middle East region, as it opened all fronts wide as a result of its brutal, aggressive behavior and led to the ignition of the entire region, adding to the tensions and events on the other side of the world.

I will focus my article on the potential economic effects that may cause the expected collapse if events continue at this pace.

The events affecting global trade routes and their important corridors, especially in the Red Sea, Bab al-Mandab, and the Suez Canal, will have a significant impact on restricting supply chains. This picture brings us back to the events and effects of Corona in disrupting global trade, but the effects of these events will be many times greater than what resulted from them at the time.

These events portend a possible economic recession that will cause painful economic impacts for both supplying and importing countries alike.

It is true that the effects will be distributed differently from one country to another according to their ability to withstand, but most of those affected by this phenomenon are poor and developing countries, and those most affected are their people without a doubt.

Perhaps the reluctance of many transport and maritime shipping companies and stopping their activity until an indefinite notice will inevitably cause a shortage of food and medicine, as well as most goods and services related to the sustainability of life. Perhaps one of the effects of the potential contraction is the loss of thousands of job opportunities among the countries of supply as well as import, and here this phenomenon will form. The biggest indicator of the possibility of the expected economic collapse.

What effects will it have on the Iraqi economy?

At a time when Iraq seeks to achieve economic advancement and emerge from economic dependency, the results of these accelerating events will cast a shadow on the Iraqi economy.

This is because the interruption of supply chains and the cessation of transport companies means a decline in oil exports and a decline in its production. Since Iraq’s budgets are a single source of funding, you can imagine the size of the problem that Iraq will face. Here I am not talking about oil prices, but rather the decline in its oil exports and the global price increases it will cause, especially food and medicine.

In addition to the above, Iraq depends on importing approximately 80 percent of its needs for agricultural commodities

Due to the absence of productive sectors in this aspect.

From this, we conclude that the effects that the global economic collapse will have are dire. Therefore, we repeat our calls for the importance of adopting a protectionist approach to provide for the country’s needs by revitalizing the productive sectors and focusing on the agricultural sector to mitigate the effects of the crisis.    https://alsabaah.iq/91225-.html

The US Treasury Imposes Sanctions On A New Iraqi Bank And Includes It On Its List - Urgent

Baghdad today -    The US Treasury adds Al-Huda Bank of Iraq to the sanctions list   LINK

The US Treasury Imposes Sanctions On A New Iraqi Bank And Includes It On Its List - Urgent Empty The US Treasury Includes An Iraqi Bank On The Sanctions List

The US Treasury includes an Iraqi bank on the sanctions list

2024-01-29 10:17  Shafaq News/ On Monday, the US Treasury Department included the Iraqi Al-Huda Bank on the sanctions list, as a source of major concern regarding money laundering because it “acts as a channel for financing terrorism by Iran.”

A US Treasury statement, viewed by Shafaq News Agency, said, “Al-Huda Bank, an Iraqi bank that acts as a channel for financing terrorism, as a foreign financial institution raises a major concern about money laundering,” noting that “the Financial Crimes Enforcement Network (FinCEN) proposed a rule... It would separate the bank from the US financial system by prohibiting local financial institutions and agencies from opening or maintaining a correspondent account for or on behalf of Al Huda Bank, in addition to imposing sanctions on the bank’s owner by the Office of Foreign Assets Control (OFAC).

According to Treasury, Al-Huda Bank, and its foreign sponsors, including Iran and its proxy groups, are diverting funds that could support the legitimate businesses and economic aspirations of the Iraqi people, and these bad actors are fueling violence that threatens the stability of Iraq and the lives of American and Iraqi citizens alike.

According to the US Treasury statement, Al-Huda Bank has for years exploited its access to US dollars to support designated foreign terrorist organizations including the Iranian Revolutionary Guard, as well as Iraqi militia groups allied with Iran including Kataib Hezbollah and Asaib Ahl al-Haq.

The statement indicated, “The Chairman of the Board of Directors of Al-Huda Bank is complicit in Al-Huda Bank’s illicit financial activities, including money laundering through front companies that hide the true nature of the parties involved in the illicit transactions, which ultimately enables the financing of terrorism.”   LINK

Including Baghdad Today.. Erbil Addresses The Federal Government And Seeks Help From Four Sources: Do You Have A List?

Politics |Today  Baghdad today - Erbil   The official spokesman for the Kurdistan Regional Government, Peshwa Hawramani, said today, Monday (January 29, 2024), that since the outbreak of problems over the salaries of Kurdistan Regional employees, there are new issues being placed before the Regional Government as a condition for sending the people’s salaries and rights, while we presented everything clearly to the government. Federal!

Hawramani said in a statement received by “Baghdad Today”: “We wonder: “Does someone have a list of the militias attacking the Kurdistan region? But the question that comes to mind here is: Is this kind of transparency and clarity, which they want from us, available on their part?”

He continued, “In a simple search of four news sites from a number of reliable media sources:

Al Jazeera: 20% of Iraq’s salaries go to paid fake employees, meaning about 10 billion dollars annually, which is more than the salaries of all salaries in the Kurdistan Region.

Al-Hurra: $300 billion in Iraq for fake projects and salaries

Baghdad Today: On the list of Iraqi retirees, there are 22,000 fake employees whose total salaries are 800 billion dinars, from the state treasury.

BBC: In 2014, the Iraqi government admitted that 50,000 fake Iraqi soldiers were receiving their salaries from the Iraqi treasury.

The official spokesman for the Kurdistan Regional Government pointed out, “If the matter is related to corruption, the salaries of employees in all Iraqi governorates must be suspended.”  LINK

Iraqi Stock Exchanges Open Their Trading With Lower Exchange Rates.. This Is The List

Money  and business  Economy News – Baghdad  Al-Iqtisad News publishes the dollar exchange rates in Iraqi markets during Monday’s trading.

The exchange rates on the Al-Kifah Stock Exchange in the capital, Baghdad, reached 151,500 dinars for every 100 dollars.

The Basra Governorate Stock Exchange recorded a slight increase, as exchange rates reached 151,700 per 100 dollars. As for Sulaymaniyah Governorate, the exchange rates reached 151,650 per 100 dollars.

Views 32  Added 01/29/2024 - 11:47 AM   https://economy-news.net/content.php?id=39923

Compiled By Kevin Kruse   Top 100 Inspirational Quotes

Inspirational quotes and motivational quotes have the power to get us through a bad week, and can even  give us the courage to pursue our life’s dreams.

In my book, 4 Keys to Happiness and Fulfillment at Work, By Kevin Kruse, I share surprising research into the true triggers of workplace motivation.

So in the spirit of self motivation, here are 100 inspirational quotes.

54. If you’re offered a seat on a rocket ship, don’t ask what seat! Just get on. – Sheryl Sandberg 

55. First, have a definite, clear practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods. Third, adjust all your means to that end. –Aristotle

56. If the wind will not serve, take to the oars. – Latin Proverb

57. You can’t fall if you don’t climb.  But there’s no joy in living your whole life on the ground. – Unknown

58. We must believe that we are gifted for something, and that this thing, at whatever cost, must be attained. – Marie Curie

 59. Too many of us are not living our dreams because we are living our fears. –Les Brown

http://www.forbes.com/sites/kevinkruse/2013/05/28/inspirational-quotes/