Iraq Economic News and Points to Ponder Tuesday Afternoon 2-20-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 2-20-24

Tlm724 Administrator Bondlady’s Corner

How Will Foreign Trade Be Financed After The Cancellation Of The Electronic Platform? The Iraqi Central Bank Answers

Money  and business  Economy News – Baghdad  Today, Tuesday, the Central Bank of Iraq revealed the mechanism for financing foreign trade after canceling the electronic platform and currency auction that the Central Bank intends to implement soon.

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview followed by Al-Iqtisad News, “The Central Bank of Iraq is heading to cancel work on the electronic platform.”

He explained that "the banks will be responsible for financing foreign trade directly through the dollars they own, and they will be fully responsible for auditing invoices and transfers, which is the practice globally."

Khalaf stated that the American correspondent banks will be responsible for financing the requests of these banks among themselves after reviewing the private documents, and the Central Bank of Iraq will not enter as a party in this case.

227 views   Added 02/20/2024 - 1:13 PM   https://economy-news.net/content.php?id=40681

The Iraqi Private Banks Association Participates In A Discussion Session On Developing The Work Of The Banking Sector

Economy News _ Baghdad  The Iraqi Private Banks Association participated in the seminar held by the Central Bank in cooperation with the General Council of Islamic Banks and Financial Institutions.

The advisor to the Iraqi Association of Private Banks, Samir Al-Nusairi, said during his speech in the discussion session: First, I convey to you the greetings of the President of the Association of Banks, Wadih Al-Hanhal, referring to the role of the Association of Banks in the field of cooperation with Arab and foreign banking organizations, as well as the General Council of Banks and Islamic Financial Institutions in light of the agreement.

It signed with them in the field of training and holding workshops, and it is the official and sole agent approved by the General Council.

He added that the Association is a major supporter of the banking sector, as well as within the strategies and directions of the Central Bank to advance the reality of the sector and meet its ambition.

99 views 02/20/2024 - https://economy-news.net/content.php?id=40683

Oil Prices Record Remarkable Stability In Global Markets

Economy |  02/20/2024  Mawazine News – Baghdad  Oil prices held gains near their highest level in more than three months after another Houthi strike in the Red Sea, as tensions persist in the key region for crude production and trade.

Brent crude futures fell eight cents to $83.48 a barrel by 01:33 GMT. US West Texas Intermediate crude for April delivery fell 10 cents to $78.36 a barrel.

The West Texas Intermediate crude contract for March rose 26 cents to $79.45 a barrel, with traders preparing for this contract to expire during the day.

Oil has remained confined to a narrow range of $10 per barrel since the beginning of the year, as competition between the factors supporting the rise and fall led to a decline in volatility. Signs of weak demand - most notably from top importer China - were offset by geopolitical tensions and efforts by the OPEC+ alliance to cut production.

OPEC+ and its allies are scheduled to meet in early March to decide whether to extend production cuts into the second quarter. Iraq, OPEC's second-largest producer, pledged to improve its compliance with the restrictions after the country finishes reviewing external estimates of its production, according to the Iraqi Oil Minister.    https://www.mawazin.net/Details.aspx?jimare=242407

The US Dollar Declines Against The Iraqi Dinar

Economy | 02/20/2024  Mawazine News – Baghdad  The exchange rates of the US dollar against the Iraqi dinar witnessed a slight decline today, Tuesday,

and the Kifah and Harithiya central stock exchanges recorded a price of 152,150 Iraqi dinars against 100 US dollars.

As for the dollar exchange rates in banking shops and local markets, the selling price reached 153,250 dinars, while the purchasing price reached 151,250 dinars for every 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=242435

The Central Bank Stresses The Growing Importance Of Islamic Finance In Iraq

Economy | 02/20/2024   Mawazine News – Baghdad   The Central Bank of Iraq stressed, on Tuesday, the growing importance of Islamic finance in Iraq.

The Central Bank stated in a statement received by Ann News, “The Central Bank of Iraq hosted a technical workshop on governance and compliance in Islamic banks and financial institutions, which was organized by the General Council of Islamic Banks and Financial Institutions.”

He added, "The workshop, which was attended by a number of representatives of banks, Islamic financial institutions, regulatory bodies, supervisory authorities, and international organizations, discussed governance and compliance in banks and Islamic financial institutions, discussed supervisory methodologies for continuity and development after crises, challenges of governance and compliance in Islamic finance, as well as risk management practices." ".

He continued, "The workshop saw the work program carefully designed to integrate theoretical frameworks with practical applications in the field of governance, compliance, and risk management to ensure maximum benefit for participants."

Deputy Governor of the Central Bank of Iraq, Ammar Hamad Khalaf, stressed, according to the statement, that “the success of the workshop emphasizes the growing importance of Islamic finance in Iraq, and hosting this workshop reflects our fruitful cooperation with the General Council in order to encourage best practices for governance and compliance within Islamic financial institutions in Iraq.” .

In turn, the Secretary-General of the General Council, Abdelilah Belatiq, said, “Through this distinguished initiative, we reflect the joint commitment between the General Council and the Central Bank of Iraq in developing the principles of governance and compliance in the Islamic financial industry,” looking forward to “more cooperation and constructive work to strengthen and develop the industry.” Islamic finance in the region.   https://www.mawazin.net/Details.aspx?jimare=242461

Al-Sudani: The Justifications For The Presence Of The International Coalition In Iraq In 2014 Have Effectively Completely Ended

Tuesday 20, February 2024 18:50 | Political Number of readings: 330  Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani confirmed: “The justifications for the presence of the international coalition in Iraq in 2014 have practically completely ended today.”

Al-Sudani said in a press conference attended by the National Iraqi News Agency ( NINA ): “The government received an official request from the American embassy.” By agreeing to implement what we agreed upon during the meetings to form a higher bilateral military committee, and this file cannot be ignored or shied away from at all.”

He added: “The meetings take place three days a week in the presence of the American side and representatives of the international coalition, which is now sitting with the Iraqi government to talk about the three main axes.” In the meetings of the Military Committee, “operational presence, security preparedness, and the intelligence aspect.” https://ninanews.com/Website/News/Details?Key=1108778

Sudanese Announces The Official Approval Of The US Embassy Regarding The Implementation Of The International Coalition’s Withdrawal

Political | 02/20/2024   Mawazine News - Baghdad

Prime Minister Muhammad Shiaa Al-Sudani announced on Tuesday that the government had received an official response regarding the American approval to schedule the American withdrawal.

Al-Sudani said in a press conference followed by Mawazine News, “The axis of the political agreement within the government program has been implemented, 54 paragraphs of which are still 27 steps in progress.”

He added, "We have renewed and renew our position that rejects Iraq being an arena for conflict or the exchange of messages, and Iraq's interest is the most important," noting that "his visit to the Netherlands comes within the framework of developing bilateral relations and within the context of building companies."

He continued, "Baghdad received an official letter from the American embassy approving the The outcomes of the meeting held in Washington in implementing the agreement regarding scheduling the end of the tasks of the international coalition.”  https://www.mawazin.net/Details.aspx?jimare=242467

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

Provoking Points To Ponder on Tact and Diplomacy:

Tact is the intelligence of the heart.  - Anonymous

Silence is not always tact, and it is tact that is golden, not silence.  - Samuel Butler

Diplomats are useful only in fair weather. As soon as it rains, they drown in every drop.  - Charles de Gaulle

A distinguished diplomat could hold his tongue in ten languages.  - Anonymous

Negotiation in the classic diplomatic sense assumes parties more anxious to agree than to disagree.  - Dean Acheson

Diplomacy; the art of saying 'nice doggie' till you can find a rock.  - Wynn Catlin

An ambassador is an honest man sent to lie abroad for the good of his country.  - Henry Wotton

If any pilgrim monk come from distant parts, with wish as a guest to dwell in the monastery, and will be content with the customs which he finds in the place, and does not perchance by his lavishness disturb the monastery, but is simply content with what he finds, he shall be received for as long as he desires.

If, indeed, he find fault with anything, or expose it, reasonably, and with the humility of charity, the Abbott shall discuss it prudently lest perchance God had sent him for this very thing.

But, if he have been found gossipy and contumacious in the time of his sojourn as guest, not only ought he not be joined to the body of the monastery, but also, it shall be said to him, honestly, that he must depart. If he does not go, let two stout monks, in the name of God, explain the matter to him.  - Saint Benedict

 Famous Quotes and Authors, Famous Quotations for all Occasions-

BRICS Expands: Which New Countries Joined? (And Who Wants To)

BRICS Expands: Which New Countries Joined? (And Who Wants To)

USGoldBureau.com    Feb. 18

January was an important month for the BRICS+ alliance and the world, due to who officially joined the alliance and who did not. Some were expected to join and reported to have joined but have not. Of the six nations expected to join, only Egypt, Ethiopia, Iran, and the United Arab Emirates have done so.

 This is still a significant development, as they are the first new nations welcomed to join since the BRICS alliance was formed. It is also significant who did NOT join (Argentina and Saudi Arabia), as many other nations waiting in the wings have expressed an interest in following Saudi Arabia’s lead. 

As we will see today, regardless of the ultimate actions taken by Argentina and Saudi Arabia, gold is gaining ascension as a premier world trading and reserve asset. It behooves us as Americans to pay attention and gather some gold while we are gathering dollars.

Nations That Joined

With the addition of Egypt, Ethiopia, Iran, and the UAE, the BRICS+ alliance share of the world economy is now greater than that of the G-7 alliance of nations. As a review, the G-7 is comprised of Germany, France, Canada, Japan, Italy, the United Kingdom, and the United States.

Twenty-two years ago, the BRICS portion of the world economy was less than half of the G-7. Now, it exceeds the G-7. This has happened over time and is not due solely to the addition of four new nations to the BRICS+ alliance. Population centers, industrial bases, and wealth creation in developing economies are more responsible for this shift, which is expected to continue.

When you think of Ethiopia, perhaps poverty and starving children holding out a bowl to receive some porridge come to mind. However, Ethiopia has found oil and has begun the process of exploration and extraction.  Hundreds of billions of barrels of oil are believed to be connected to oil shale fields found in Ethiopia. This find has the potential to propel Ethiopia into an economic leadership role throughout Africa and the world. American oil companies and investors were already present, helping develop these fields prior to their official admittance as a BRICS+-aligned nation. 

Much is at stake here as we move forward, in a country previously not thought of as an economic powerhouse.

Egypt, while officially part of Northern Africa, has long been an important partner of the United States and has often helped stabilize events in the Middle East. Egypt has purchased/received American-made military equipment throughout the years. It remains to be seen what the new BRICS+ membership will mean for Egypt’s relationship with the United States, and for the stability of the region in the years ahead.

Iran is an oil-rich nation that has had a love-hate relationship with the United States in years past. A previous ruler (Shah of Iran) was seen as friendly to the West, causing Iran to have a good relationship with the West from the mid-1950s until being deposed by the Iranian Revolution in 1979. Then what was known as the Iran Hostage Crisis occurred, whereby revolutionaries took American hostages, and a year-long standoff ensued. More recently, Iran has been involved in supporting terror groups such as Hamas and Hezbollah and attacking American military ships and bases scattered throughout the Middle East.

Iran is a powerful nation with nuclear ambitions that has been under economic sanctions by the United States continuously since 1987. As a sanctioned nation (like Russia), they were a natural fit for BRICS+ membership. Even before officially joining BRICS+, Iran had already been an important partner for Russia and China.

The UAE is an oil and gas-rich country with significant reserves, in which less than 12% of the residents originate from the region. The other 88% of the population are expatriates from other nations who moved to the UAE for employment serving the citizenry. The UAE has been an important economic partner with the United States in the past and has helped bring economic stability to the region. It has been a wealthy and relatively peaceful region of the Middle East. It will be interesting to see what the new BRICS+ membership will mean for their relationship with the West moving forward.

What is significant about Saudi Arabia not joining is that Saudi Arabia is in the midst of the four nations that did join (see map above). This is a key region of the world currently experiencing shipping difficulties due to missile attacks from militia groups sponsored by Iran.

Saudi Arabia has been the lynchpin of the petrodollar world reserve currency system enjoyed by the United States since being created around 1974. While the petrodollar world has already been hindered and impacted by non-dollar oil trading happening between BRICS+ nations, Saudi Arabia joining BRICS+ could signal the official end of the petrodollar system. You can imagine the intense tug-of-war going on between the United States, Saudi Arabia, and their neighbors that have already joined BRICS+.

Saudi Leadership Role

What is also significant is that 34 additional nations expressed an interest in joining the BRICS+ alliance when/if Saudi Arabia joins. Contrary to reports that say Saudi Arabia has officially joined BRICS+, they have not. 

What happens to the 34 nations taking cues from Saudi Arabia remains to be seen, but what is certain is that gold is becoming a more important asset globally, and the dollar is becoming less important. One hundred fifty-nine nations have signed up to use the new BRICS+ version of SWIFT (Western money transfer system), with 20 nations deciding to ditch the use of the dollar as they transition. While the dollar is not going away anytime soon, the world that requires or accepts the dollar as payment is getting smaller. That is why it is becoming increasingly important for the average American to own some gold.

Gold acts as a hedge against the loss of purchasing power of the dollar. The dollar has lost purchasing power through the years, even though it was the World Reserve Currency. Think about how much purchasing power it can lose when it loses world reserve currency status. Owning tangible assets such as precious metals can help preserve your wealth and purchasing power as the world continues the inevitable march away from dollars and towards gold. 

https://dinarchronicles.com/2024/02/20/which-new-countries-joined-brics-and-who-wants-to-apply/

"Tidbits From TNT" Tuesday 2-20-2024

TNT:

Tishwash:  How will foreign trade be financed after the cancellation of the electronic platform? The Iraqi Central Bank answers

Today, Tuesday, the Central Bank of Iraq revealed the mechanism for financing foreign trade after canceling the electronic platform and currency auction that the Central Bank intends to implement soon.

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview followed by Al-Iqtisad News, “The Central Bank of Iraq is heading to cancel the electronic platform and the currency auction soon.”

He explained that "the banks will be responsible for financing foreign trade directly through the dollars they own, and they will be fully responsible for auditing invoices and transfers, which is the practice globally."

With this step, the Central Bank of Iraq intends to “withdraw itself” from the process of financing foreign trade and make the process limited to banks inside Iraq.

Among the American correspondent banks, which will be responsible for financing the requests of these banks among themselves after reviewing the private documents, and the Central Bank of Iraq not entering as a party in this case  link

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CandyKisses:  Iraq and Egypt discuss ways to strengthen relations between the two countries in the oil and energy sector

Baghdad / Nina / Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdul Ghani discussed with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt Tariq Al-Mulla ways to strengthen relations between the two brotherly countries in the oil and energy sector.

According to a statement by the Ministry of Oil, Abdel Ghani met the Egyptian minister during an official visit to participate in the work of the Egypt International Energy Conference and Exhibition.

The Egyptian minister stressed the importance of the existing cooperation between the two brotherly countries and Egypt's keenness to strengthen this cooperation across various fields, especially oil, energy and petrochemical industries, pointing to the existing partnership and cooperation with the Egyptian General Petroleum Corporation and Enppi and Petrojet, stressing the importance of expanding the areas of cooperation to serve the common interests of the two countries.

For his part, Deputy Prime Minister for Energy Affairs and Minister of Oil affirmed Iraq's support for bilateral cooperation with Egypt and its aspiration to expand the volume of participation of Egyptian companies in the investment projects announced by the ministry, expressing his interest in participating in the Egypt International Energy Conference and Exhibition as an important economic event.

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayyan Abdel Ghani arrived in Cairo to participate in the work of the Egypt International Energy Conference and Exhibition "EGYPES2024".

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CandyKisses:  Remarkable progress in two years. Iraq moves from recovery to development (details)

Baghdad Today - Baghdad

Today, Tuesday (February 20, 2024), the Parliamentary Economy and Industry Committee commented on Iraq's transition from the recovery stage to the development stage during the current and future period.

Ruqaya al-Nouri, a member of the committee, told Baghdad Today that "Iraq over the past years was going through a recovery phase due to the difficult security conditions it went through, especially during the period of occupation of the terrorist organization ISIS and after the liberation operations, and the advancement of the country's reality needed efforts and a long time."

Al-Nouri added that "Iraq is currently past the recovery stage and has entered the stage of development at various levels, especially with regard to the service and urban aspect and many others," stressing that "there is great government interest in developing all banking and service sectors, and Iraq during the next two years will witness a remarkable and significant development in various aspects."

Since taking office in October 2022, Iraqi Prime Minister Mohammed Shia al-Sudani has achieved a record number of policy achievements. The "service government," which he heads, has completed a range of projects including the construction of roads, highways and hospitals, the signing of multibillion-dollar agreements to ensure energy independence, the completion of a deal with Tehran to swap gas for oil So that Iraqis can withstand the sweltering heat in summer when temperatures reach 50 degrees Celsius, and work with the government to pass the federal budget for three years.

CandyKisses:  Specialist: Iraq's economic environment is qualified to attract international and Arab banks

Baghdad Today - Baghdad

Economist and professor of financial economics at the University of Baghdad, Humam Al-Shamma, confirmed on Monday (February 19, 2024) that Iraq's economic environment is qualified to attract international and Arab banks.

Shamma said, for "Baghdad Today", that "Iraq and its economic, even security and political environment is ready to attract international and Arab banks," considering that "this is an important step in order to develop the banking sector in Iraq, whether governmental or private, especially since there are international banks currently operating in Iraq."

He stressed that "the work of any bank, even if it is global, must be in accordance with compliance with international standards in financial transfers, and any bank that violates this exposes itself to sanctions, whether the United States or even by the Central Bank of Iraq."

He pointed out that "attracting international banks should not be limited to countries alone, but must be inclusive without any discrimination, and this is applicable in all developed countries of the world."

Talk of attracting banks from outside the country comes with the continued ban of many Iraqi banks from dealing in dollars as a result of non-compliance with the controls of the Central Bank and the US Federal Bank.

Mot: ........ Ya Gots to Love Tuesdays!!!!

Mot: Soooooo Fun being Creative!!!

Iraqi News Highlights and Points to Ponder Tuesday AM 2-20-24

Iraqi News Highlights and Points to Ponder Tuesday AM 2-20-24

For These Reasons... Economic Expectations For The Budget Deficit To Rise To 90 Trillion Dinars

Money  and business  Economy News – Baghdad  Today, Tuesday, economic expert Nabil Al-Marsoumi suggested that the deficit in the 2023 budget will rise to about 90 trillion dinars.

Al-Marsoumi said in a post on Facebook, followed by Al-Iqtisad News, that “it is expected that the planned deficit in the 2023 budget will reach about 90 trillion dinars,” explaining the reason, as “a result of the rise in public expenditures to 225 trillion dinars while revenues remain.” The public at the level of 134 trillion dinars.

He explained, "The danger of this deficit is that it will be financed from internal and external borrowing after the surplus achieved in 2022, amounting to 22 trillion dinars, was exhausted in covering the actual deficit in the budget."

The Iraqi Parliament voted on Monday (June 12, 2023) on the federal budget law for the years 2023, 2024, and 2025, after discussions that lasted for five days.

The value of the budget for last year was 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit amounting to 63 trillion dinars (48.3 billion dollars), while the budget items for 2023 and 2024 have not been published.

166 views 02/20/2024 - https://economy-news.net/content.php?id=40671  

Iraq Stock Exchange: Tomorrow The Deposit Of Government Emaar Bonds Will Begin

Iraq Stock Exchange  Market  Economy News – Baghdad  The Iraq Stock Exchange announced the start of the process of creating the first “Emar” issuance bonds, starting on Tuesday, February 20, 2024.

Director of the Iraq Stock Exchange, Taha Abdul Salam, told Al-Iqtisad News, “This step comes after the completion of technical procedures in the market, and based on the decision of the Securities Commission and the decision of the Board of Governors to list, deposit, and trade Emaar’s first issuance bonds for all their categories.”

He added that trading on the bonds will be launched as of March 19, 2024, noting that the bonds are divided into a category of 500 thousand dinars for a period of two years maturing on 10/9/2025 with an annual interest (6%) paid every six months, and the second category is one million dinars for a period of four years. It matures on 10/9/2027 with annual interest (8%) paid every six months.

He stressed that the instructions for listing, depositing and trading government bonds are that trading in the market takes place according to the category of the bond on the bond platform and that the rate of change in the rise and fall of the bond price is 5% based on the price calculated for the bond on that day during the issuance period.

He pointed out that the minimum commission for the brokerage company is 1,000 dinars, and the commission rate is 0.003 of the value of the bond when trading, and the market commission is 0.3%.

259 views 02/19/2024 - https://economy-news.net/content.php?id=40658   

There Are Two Main Reasons Behind The Possibility Of The Budget Deficit Rising To 90 Trillion Dinars

Economy |Baghdad today – Baghdad  Today, Tuesday (February 20, 2024), economist Nabil Al-Marsoumi suggested that the deficit in the 2023 budget will rise to about 90 trillion dinars.

Al-Marsoumi said in a post on Facebook, followed by Baghdad Today, that “it is expected that the planned deficit in the 2023 budget will reach about 90 trillion dinars,” explaining the reason, as “a result of the rise in public expenditures to 225 trillion dinars while revenues remain.” The public at the level of 134 trillion dinars.

Al-Marsoumi explained, “The danger of this deficit is that it will be financed from internal and external borrowing after the surplus achieved in 2022, amounting to 22 trillion dinars, was exhausted in covering the actual deficit in the budget.”

The Iraqi Parliament voted on Monday (June 12, 2023) on the federal budget law for the years 2023, 2024, and 2025, after discussions that lasted for five days.

The value of the budget for last year amounted to 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit amounting to 63 trillion dinars (48.3 billion dollars), while the provisions of the budgets for the years 2023 and 2024 have not been published.  LINK

Learn About The Decisions Taken At The Sixth Session Of The Ministerial Council For The Economy

Deputy Prime Minister and Minister of Planning Mohammed Tamim

Economy News – Baghdad   Deputy Prime Minister and Minister of Planning Mohammed Tamim chaired, on Monday, the sixth session of the Ministerial Council for the Economy for the year 2024.

The Council's media office said in a statement received by Al-Iqtisad News, "The Council discussed the items on its agenda and took the appropriate decisions regarding them."

The statement added, "The Council hosted the head of the Supreme Commission for Coordination between the Governorates, the head of the special committee to study the sold and leased projects of the Ministry of Agriculture, and it also hosted the Undersecretary of the Ministry of Planning. The Council listened to an explanation provided by the Chairman of the Commission about those projects, the obstacles and problems that hinder their completion, and the recommendations for transferring federal powers to the governorates." .

The Council confirmed, according to the statement, that it “decided to form a committee headed by the Technical Undersecretary of the Ministry of Planning and membership of the Supreme Commission for Coordination between the Governorates and the concerned authorities to study these projects and provide a full evaluation of them.”

The statement continued, "The Council hosted the Prime Minister's Advisor for Technical Affairs, Chairman of the Customs Order Committee for studying Iraq's foreign loans and debts, and the Council decided that the above committee should study all projects financed by foreign loans and submit a detailed report on the completion rates for those projects and the technical and legal problems, if any, to the Ministerial Council for the Economy." to decide.”   02/19/2024   https://economy-news.net/content.php?id=40660

Iraq Applies To Host The Arab Summit In 2025 And Announces A Plan To Rehabilitate Infrastructure

Government palace in Baghdad   Reconstruction and building 

The Iraqi government spokesman, Basem Al-Awadi, announced today that Iraq has submitted a request to host the 2025 Arab Summit in the capital, Baghdad.

Al-Awadi explained in a press statement that the government seeks to complete the components of hosting the summit, in a way that suits the guests who are leaders of Arab countries, in accordance with diplomatic norms and in accordance with the status and reputation of the host country.

Al-Awadi pointed out that the isolation that Iraq suffered during the dictatorial regime, and our war against terrorism throughout the past era, did not provide the opportunity to rehabilitate the state’s basic infrastructure, allowing it to host important and large regional and global events.

Al-Awadi pointed out that the government has decided to comprehensively rehabilitate some of the presidential complexes, which include a number of major guest houses that were previously occupied by some ministers and representatives, which made them in need of a comprehensive maintenance and rehabilitation process.

Al-Awadi confirmed that the Ministry of Construction and Housing had prepared the required statements in accordance with their price and technical specifications, and the Ministry of Planning presented them to the Council of Ministers for approval, and approval was obtained by the esteemed Council’s decision on 2/7/2024.

Al-Awadi appealed to the media to be accurate in conveying information and to miss the opportunity for those who seek to falsify the facts and harm the reputation of our dear country.

977 views   02/19/2024 - 10:33 PM  https://economy-news.net/content.php?id=40659

Iraq Stock Exchange: Tomorrow the deposit of government Emaar bonds will begin

Iraq Stock Exchange  Market  Economy News – Baghdad  The Iraq Stock Exchange announced the start of the process of creating the first “Emar” issuance bonds, starting on Tuesday, February 20, 2024.

Director of the Iraq Stock Exchange, Taha Abdul Salam, told Al-Iqtisad News, “This step comes after the completion of technical procedures in the market, and based on the decision of the Securities Commission and the decision of the Board of Governors to list, deposit, and trade Emaar’s first issuance bonds for all their categories.”

He added that trading on the bonds will be launched as of March 19, 2024, noting that the bonds are divided into a category of 500 thousand dinars for a period of two years maturing on 10/9/2025 with an annual interest (6%) paid every six months, and the second category is one million dinars for a period of four years. It matures on 10/9/2027 with annual interest (8%) paid every six months.

He stressed that the instructions for listing, depositing and trading government bonds are that trading in the market takes place according to the category of the bond on the bond platform and that the rate of change in the rise and fall of the bond price is 5% based on the price calculated for the bond on that day during the issuance period.

He pointed out that the minimum commission for the brokerage company is 1,000 dinars, and the commission rate is 0.003 of the value of the bond when trading, and the market commission is 0.3%.

259 views   02/19/2024 - 10:24 PM  https://economy-news.net/content.php?id=40658

MilitiaMan: Iraqi Dinar - IQD - J.P. Morgan Bank - Trade Bank of Iraq - Maximize Value Chains - Global Economy

Iraqi Dinar - IQD - J.P. Morgan Bank - Trade Bank of Iraq - Maximize Value Chains - Global Economy

MilitiaMan and Crew:  2-19-2024

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=rF3GjI_NP5o

Goldilocks' Comments and Global Economic News Monday Evening 2-19-24

Goldilocks' Comments and Global Economic News Monday Evening 2-19-24

Good Evening Dinar Recaps,

From last night!

"The World's First Gold Standard Digital Currency - BDTCOIN"  Investing  BDTCOIN  
More on this coming...

© Goldilocks
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Bdtcoin is an emerging digital currency in the digital world, introduced at the end of 2022. Unlike other traditional digital currencies that are not backed by any physical assets, Bdtcoin is backed by Gold and not any fiat currency worldwide, giving it a unique advantage in the market. 

As a digital store of value and medium of exchange, BDTCOIN blockchain facilitates a new revolutionary DeFi ecosystem with multiple financial players for its users worldwide to control their own money and data. This has enabled greater access to financial services, lower costs, faster transactions, and more financial freedom overall its users.   Investing   The GWW

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"What Would Make the Federal Reserve Raise or Lower Interest Rates?"

There really isn't a reason for the Feds to raise or lower interest rates at this point. Even with inflation data coming in higher, the markets are just simply bouncing back.

Price distortions have created Market correlations that no longer apply as they once did. The manipulation of the market and the momentum of the market have simply created price patterns that no longer apply to meaningful data anymore.

In other words, momentum is doing better than real asset prices due to longstanding manipulation of the markets.

The markets have become unpredictable causing many traders to move forward with caution, and some have pulled away altogether to invest in digital assets and gold.

In other words, our Global Markets are now leading the way over and beyond human control. There are still some events that can bring it down, so we can replace it and reset it with the new digital economy such as:

* A huge spike in oil
* Government credit default
* A worldwide recession which is already taking place
* More war
* BRICS influence
* Weather events
* A commercial Banking default
* Inflation
* Wage growth
* Geopolitics
* And, supply chain disruptions

These factors, even one, have the ability to cause an imbalance so great in the market that a return to normalcy will no longer be possible.

These and many other reasons are why a Global Currency Reset inside a new Digital Economy is happening.   Investing

© Goldilocks

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Look for market prices to begin the process of moving into real values when Protocol 20 starts.

Many of our assets are over-inflated, some of these assets will be higher than you may think and others will go lower.

It is important to keep an open mind during this process of movement into real values.

We are about to have real-world assets with real-world values placed on them inside a digital asset-based trading system.

Adjustments are forthcoming and to be expected going forward. This is a Global adjustment. Know you are not alone.

© Goldilocks

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👆 Traders are already anticipating this move and making adjustments accordingly.

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"USI MONEY AND ENJAZ SIGN STRATEGIC PARTNERSHIP TO INTRODUCE PAYMENT INNOVATION"

Real-time instant payment systems are coming to the Kingdom of Saudi Arabia. This will service the needs of the Middle East and other countries across the globe choosing to settle their payments in local currencies.

This new digital payment system will begin the process of leveling the playing field between countries that have been settling their accounts in dollars for a long time.

We are living in a new age. Countries want their power back, and they are getting it. Gold will support their new Digital Financial System through virtual assets creating values to their own currencies not seen in a long time.  PR Newswire

© Goldilocks

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New Protocol 20 Vote Set for February 20 | Stellar

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Jeff Bezos sells $2 billion worth of Amazon stock | Fox Business

👆 Has the market topped?

~~~~~~~~~~

I realize that tomorrow is February the 20th, 2024. It is the day that Protocol 20 begins. The expansion of the stellar platform will bring in new opportunities, and over time, it will bring in more abundance.

We do not focus on dates in this room or rates, but we will notice changes that have been made on certain days begin to bring in more and more liquidity in the assets we hold inside this new digital asset-based trading system.

© Goldilocks

~~~~~~~~~~

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Iraq Economic News and Points to Ponder Monday Afternoon 2-19-24

Iraq Economic News and Points to Ponder Monday Afternoon 2-19-24

Tlm724 Administrator Bondlady’s Corner

The Stability Of The Dollar Exchange Rates In Baghdad With The Closure Of The Stock Market

Economy   Monday, February 19, 2024 Baghdad/National News Center   The prices of the US dollar stabilized against the Iraqi dinar in Baghdad, today, Monday, in Baghdad, with the stock market closed.

The National News Center correspondent said, “Dollar prices stabilized with the closure of the main Kifah and Harithiya stock exchanges in Baghdad, recording 152,200 Iraqi dinars for 100 dollars, which are the same prices recorded in the morning.”

He added, “Selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 152,500 dinars for 100 dollars, while the purchase price reached 151,500 dinars for 100 dollars.”    https://nnciraq.com/251136/

Oil Prices Decline In Weak Transactions Due To A Public Holiday In America

Monday 19, February 2024 | Economical Number of readings: 298   Baghdad / NINA / Oil prices fell in early transactions, Monday, as markets absorbed comments from US Federal Reserve officials, indicating caution before a possible interest rate cut, while transactions were weak on a public holiday in the United States.

By dawn on Monday, Brent crude futures fell 58 cents, or 0.69 percent, to record $82.89 per barrel, and West Texas Intermediate crude futures fell 35 cents, or 0.44 percent, to $78.84 per barrel.

Markets are still awaiting the trend of demand from China after the country's return from the week-long Lunar New Year holiday, while transactions remained weak due to the Presidents Day holiday in the United States.

After a week of disappointing US economic data, which indicated an increase in prices and a decline in retail sales and factory production, decision-makers at the US Central Bank hinted at “slowness” in reducing interest rates.

Higher interest rates would keep the cost of purchasing oil high, which sets the stage for a downward trend in the market./End 9    https://ninanews.com/Website/News/Details?key=1108461

International Migration: We Contribute With The Iraqi Government To Implement Economic Recovery Programs

Money  and business   Economy News – Baghdad   On Monday, the International Organization for Migration mission clarified its role in Iraq, while noting its cooperation with the Iraqi government to implement economic recovery programs and support community integration.

The head of the organization’s mission in Iraq, Georgi Jikawi, said, “The mission is working with the Ministry of Migration and Displacement as a competent sectoral body to support its steps in implementing the voluntary and safe return of the displaced, starting with humanitarian aid, camp management, and voluntary and safe return,” according to the official agency.

Regarding the return of Iraqi immigrants, Jikawi explained, “The role of the International Organization for Migration begins when they return to Iraq, and it has no role while they are in Europe,” indicating that “the organization contributes, in cooperation with the Iraqi government, to implementing economic recovery programs and supporting community integration again.”

Views 72 02/19/2024 -  https://economy-news.net/content.php?id=40639

The Federation Of Chambers Of Commerce Calls On The Government To Make Way For The Private Sector

Money  and business   Economy News – Baghdad   The head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed that Iraq's economy needs to be liberalized by the government and make way for the private sector.

Al-Zuhairi said, in his speech during the Iraqi National Trade Forum, that the Iraqi private sector is witnessing great growth and is capable of establishing large projects in various sectors, including building power plants, residential complexes, and others.

He added that the private sector needs legislation, especially since government stability will lead to the liberalization of the private sector.

He explained that 70% of private sector companies access the dollar platform at the Central Bank on a daily basis.    Views 80 02/19/2024 - https://economy-news.net/content.php?id=40627

Iraq Confirms To The World Bank Its Intention To Promote Reforms Related To Financial Policies

Local |  02/19/2024   Mawazine - Baghdad - Today, Monday, the Minister of Finance, Taif Sami Muhammad, received Winston Cole, Director of the Financial Management Project at the World Bank, and members of the delegation accompanying him. The

Ministry’s media office stated in a statement received by Mawazine News that “during the meeting, aspects of relations between Iraq and the Bank were reviewed.” International cooperation, especially in light of the existing cooperation program to complete the implementation of the economic reforms adopted by the Iraqi government.”

He added that Taif expressed “appreciation for the fruitful partnership between the two sides, stressing the Iraqi government’s keenness to continue it, and the positive climate it provides for all investors and global financial markets regarding the Iraqi economy, stressing at the same time the Iraqi government’s determination to continue promoting structural reforms related to financial and monetary policies and maximizing the role of The private sector in development.

Cole pointed out, "The World Bank looks forward to continuing the distinguished cooperation relations with Iraq and its support for its economic reforms, praising the performance of the Iraqi economy and the flexibility and steadfastness it has shown in the face of the negative repercussions resulting from global economic fluctuations, and stressing the Bank's continued strengthening of joint work with the Iraqi government to improve overall indicators."

"For the economy, deepening the participation of the private sector and completing the ongoing development work."     https://www.mawazin.net/Details.aspx?jimare=242368

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

"Tidbits From TNT" Monday 2-19-2024

TNT:

CandyKisses:  26 international companies express their desire to participate in the implementation of the Baghdad metro project

Baghdad Today - Baghdad

Today, Monday (February 19, 2024), 26 international companies from six countries expressed their desire to participate in the implementation of the Baghdad metro project.

The media office of the Sudanese in a statement received by "Baghdad Today", that "Prime Minister Mohammed Shia Sudani, received on Monday morning, representatives of the Chinese company (China Railway), which implements the project to develop the Eagles Square in central Baghdad, within the first package of projects to break traffic jams in the capital, Baghdad."

He explained that "the Chinese company, during the meeting, which was attended by a number of advisors to the Prime Minister, gave an explanation of its capabilities and capabilities that enable it to participate in the implementation of the Baghdad metro project, which was recently announced, and the expertise available to it to contribute to the implementation of this important vital project."

He pointed out that "26 international companies from Germany, Italy, Spain, China, India and Qatar expressed their desire to participate in the implementation of the metro project, after announcing it on the eighth of February, and signing contracts with the company specialized in providing consulting services for the project."

Tishwash:  The World Bank praises the steadfastness of the Iraqi economy in the face of global fluctuations

Today, Monday (February 19, 2024), Director of the Financial Management Project at the World Bank, Winston Cole, praised the steadfastness of the Iraqi economy in the face of global fluctuations.

The media office of the Minister of Finance stated in a statement received by “Baghdad Today”, that “Minister of Finance, Taif Sami Muhammad, received today, Monday, Winston Cole, Director of the Financial Management Project at the World Bank, and members of the delegation accompanying him,” indicating that “during the meeting, aspects of relations between Iraq and the World Bank, especially in light of the existing cooperation program to complete the implementation of the economic reforms adopted by the Iraqi government.”

For her part, in this regard, the Minister of Finance expressed appreciation for the fruitful partnership between the two sides, stressing “the Iraqi government’s keenness to continue it, and the positive climate it provides for all investors and global financial markets regarding the Iraqi economy,” stressing at the same time “the Iraqi government’s determination to continue promoting reforms.” The structure related to financial and monetary policies and maximizing the role of the private sector in development.

For his part, Cole stressed “the World Bank’s aspiration to continue the distinguished cooperation relations with Iraq and its support for its economic reforms,” praising “the performance of the Iraqi economy and the flexibility and steadfastness it has shown in the face of the negative repercussions resulting from global economic fluctuations.”

He pointed out, "The bank continues to strengthen joint work with the Iraqi government to improve the overall indicators of the economy, deepen the participation of the private sector and complete the ongoing development work."  link

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

CandyKisses:  When will it be liberated? Iraqi money held captive in US bank prisons

Information / Baghdad...In the spring of 2003, Iraq witnessed a US occupation and was placed under US trusteeship, and Iraq's money from the sale of oil, which constitutes more than 90 percent of Iraq's hard currency imports, was placed at the US Federal Reserve to protect it from compensation claims made by some countries affected by the policies of the former regime that ruled Iraq before 2003.

In order for the Iraqi Government to benefit from these funds, the Iraqi Ministry of Finance submits a request to the United States with an explanation of the disbursements of those funds, so that the United States Federal Bank may study and scrutinize the request and recommend the Disbursement of the amount of funds requested. The funds are then transferred to the Central Bank of Iraq, which in turn transfers them to the Government of Iraq, either in US dollars or Iraqi dinars as needed.

The United States has stated on previous occasions that the reasons for imposing sanctions are mainly money laundering and currency smuggling, without giving exact details of those charges.

Experts said that "Iraq imports nearly 90 percent of its needs of goods and services from outside Iraq, and the reason is due to the deterioration of industry, the diminishing role of the private industrial sector and the decline of agriculture to a large extent due to the lack of rain and the low water level in the Tigris and Euphrates rivers."

"This necessarily leads to a significant hemorrhage in Iraq's foreign exchange reserves. Moreover, due to the extensive relations and the close distance between Iraq and its eastern neighbor Iran, Iraq's trade with Iran accounts for the lion's share of Iraq's imports of goods and services, which provokes the anger of the United States, which imposes severe sanctions on Iran and prohibits the supply of US dollars to Iran."

This scene needs Iraq to be liberated from the American influence over its funds, in order to continue building the country.

Ali Hussein, a member of the Fatah Alliance, warned on Monday of US control over oil financial revenues in the Federal Bank, accusing Washington of exploiting this control to exert pressure on Iraq.

Hussein told Al-Maalouma that "America is exploiting this control by imposing its will in many files, including armament, as well as its pressure on the economic paper."

He called on the government to "break free from this pressure and have a say in reformulating the relationship with the Americans."

He pointed out that "the Iraqi and international financial system is captive to the US administration, which necessitates resorting to other ways to ensure the liberation of money from its authority, and understanding through other windows away from the pressure it exerts against Baghdad."

In the same context, the head of the coordinating body of the popular movement for the Belt and Road, Hussein Al-Karawi, stressed that Iraq has great economic assets that need proper management that leads it towards achieving success, investment and getting rid of the American will.

He told Al-Maalouma that "there is an urgent need for Iraq to go towards the countries of the East to develop economic and trade relations in various fields and get rid of the US hegemony imposed on Baghdad."

He called for "dealing in rubles or Chinese yuan, and not limiting the economy to the US dollar."

Last year, Iraq demanded that the United States free its money from its treasure.

A previous statement by the State Department said that Minister Fuad Hussein discussed with his US counterpart Antony Blinken a number of issues, including sanctions imposed by the US Treasury on Iraqi banks.

According to a statement by the Iraqi Ministry of Foreign Affairs, the US Treasury did not provide the reasons behind the imposition of such sanctions, and whether Washington's imposition of these sanctions came due to the lack of discipline of these banks in implementing the banking instructions and rules set by the Central Bank of Iraq or the US Federal Reserve, or for other reasons.

According to the statement, the Iraqi Foreign Minister officially called on the US Secretary of State to reconsider the US Treasury's decision on the subject, especially since the US Treasury Department is in constant contact with the Central Bank of Iraq and that these banks play an important and major role in financing the ration card expenses that benefit families of low-income people, as they provide them with a food basket consisting of basic foodstuffs such as flour, rice, sugar, tea, some legumes, washing powders, and others.

Mot:  .. Yet Another ""Tip"" once YOU Retire!! - frum ole ""Mot"" of course! 

Mot: .... now you know how - Too!!!! 

MilitiaMan: Iraqi Dinar -- IQD -- Natural Resoucres -- Highest in the World - Integration Global Economy -

Iraqi Dinar -- IQD -- Natural Resoucres -- Highest in the World - Integration Global Economy -

MilitiaMan and Crew:  2-18-2024

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=RCNiIzucIF0

Iraq Economic News and Points to Ponder Late Sunday Evening 2-18-24

Iraq Economic News and Points to Ponder Late Sunday Evening 2-18-24

Tlm724 Administrator Bondlady’s Corner

The Central Bank Of Iraq Reveals The Mechanism For Granting License Applications For Electronic Payment Companies

February 18, 2024   The Central Bank of Iraq revealed the mechanism for accepting and studying applications for granting licenses to electronic payment companies, confirming the continued receipt of licensing applications.

The Central Bank specified that the applicant,   whether a natural or legal person,   must have at least three years of experience in the field of electronic payment and the payments industry, and  this includes the founders and participants, indicating that the  application includes a detailed explanation of the added value to the electronic payment sector in Iraq that will be provided by the company to be licensed.

 Especially in the field of modern collection techniques and enriching the Iraqi market with distinguished and applicable service.

 The bank stressed the necessity of submitting a request for a detailed technical feasibility study of what the company to be licensed will provide, pointing out that the request includes the minimum standards for accepting applications for obtaining a license to operate as an electronic payment service provider, in addition to what is stated in the electronic money payment services system No. (3). For the year 2014.

 The bank confirmed that it will reject all applications that do not meet the aforementioned licensing conditions.

     :diamonds: To view the minimum standards for accepting applications to obtain a license to operate as an electronic payment service provider. Click here.  https://cbi.iq/static/uploads/up/file-17082531764307.pdf   

 Central Bank of Iraq   information Office   18 - February – 2024   https://cbi.iq/news/view/2515

~~~~~

[approximate translation of  https://cbi.iq/static/uploads/up/file-17082531764307.pdf     

 Minimum standards for accepting applications to obtain a license to operate as an electronic payment service provider, in addition As stated in the electronic payment services system

1 | Experience in the field of financial services and electronic payment:

 Applicants must have experience in the financial services industry and management, especially payment

It is also preferable to be a shareholder from one of the leading companies in the field of technology ol

C Electronic payment in other countries, in addition to the organizational and technical skills necessary to operate the system and risk management related to it.

2 | Solvency:

A: The applicant must have a strong and stable financial ability to operate the electronic payment service effectively

To deal with potential financial challenges, it is assessed through an institutional investment review

The company works in various commercial fields.

B- Local and foreign shareholders (companies) must submit proof that they have achieved a profit for the last three years

Years and the license of the sectoral entity within the country for the local shareholder and in the home country for the foreign shareholder

With the license of the sectoral authority that granted the license, certified by the embassy of his country in Iraq.

C- Individual shareholders must submit documents proving the sources of funds, in addition to a statement  Account for the last three years.

3 | Technical innovation and added value:  

 The submitted proposal must include providing technical solutions that enhance this bank’s strategy to shift towards payment and collection

Electronically, it is preferable to include attracting modern technology in the payments industry

The services to be provided are different and superior to the services currently provided in the market and will create a qualitative breakthrough In this area.

 4 | Outstanding customer services: The applicant must provide excellent support services to customers to meet their needs  ox 

 -Customer Protection Program: When submitting a registration application, submitting the customer protection programs includes a description

Customer protection measures

Provided that the dispute resolution mechanism and necessary measures are in place to protect and preserve customer funds in cases where...

This requires the privacy and information protection policy and the fees and commissions for each service.

5 | Integrity and transparency: 

Necessary measures are taken by this department to inquire about the legal position of the company's founders

Natural and legal persons and address the Office of the Compliance Controller and the Legal Department at this bank

The Office of Combating Money Laundering and Terrorist Financing and law enforcement agencies. |

 6 | Position of the foreign shareholder: 

The foreign shareholder (companies or individuals) or one of the foreign administrations must provide proof of integrity

Their security and financial position and evidence of their non-involvement in money laundering and terrorist financing crimes from their country    The mother is certified by their embassy in Iraq.

7 | Fraud management and anti-money laundering: 

  The offer must include the procedures and systems that the company will use to limit operations

 Fraud, anti-money laundering, terrorist financing, know-your-customer procedures and risks

The other.

 8 | Company strategy:

1. The general objectives of the company.

2. Comprehensive feasibility study:

The applicant must attach a feasibility study prepared by a specialized consulting office from the listed offices

Their names are included in the bulletin of consulting offices licensed and issued by the Association of Accountants and Auditors in both languages

Demand contracts, strategy provider such as aspects, from the lowest many and English and include as much as Arabic

Related to the provision of payments services, the proposed operating model, risk management, and financial flow chart

Funds, organizational structure, customer protection policies, IT infrastructure, and scalability

Proposers, risk staff and qualifications of the commissioner, of the director's scientific and interoperability qualifications

The main procedures affecting the applicant, anti-money laundering and terrorist financing procedures, and the bank

Settlement. The feasibility study must also include a realistic assessment of the current state of the electronic payment industry

 In Iraq and measuring the chances of success of the company to be established in this sector.

3. Analyze the strengths and weaknesses, challenges and risks that each service may face.

It is planned to be launched during the period during which the study and appropriate solutions and alternatives to confront it are being prepared.

 4. Future financial expectations in addition to expectations that the applicant will meet

With the license to operate the necessary operational and technical requirements according to capital requirements Granted.

9 | Information security and customer protection:

The company must be able to adopt the best international standards for information security and protection    Customers and their privacy.

10 | Activities that the company wishes to engage in in the field of electronic payment:

 11 | The company’s intention to engage in other activities outside the scope of the required license:

The extent to which other activities are related and their impact on the company’s main activity

 12 | CV of the proposed managing director and shareholders:

The proposed authorized director must have successful experience in the electronic payment sector.

 13 | Evaluation of the company based on an interview with shareholders and founders:

The company is evaluated based on interviews and data submitted to the Payment Service Providers Monitoring Department Email

Approximate translation of  https://cbi.iq/static/uploads/up/file-17082531764307.pdf     

The Central Bank Of Iraq Organizes A Workshop For Officials Of The Public Awareness And Protection Departments

February 18, 2024    The Central Bank of Iraq organized a workshop for public awareness and protection officials in government and private banks.

     The workshop reviewed the most prominent challenges and obstacles facing the Iraqi banking sector, discussed the required treatments, and presented proposals for a clear working mechanism to deal with complaints, requests, and inquiries received from the banking public.

     The workshop addressed the need to provide the best services to the public and emphasized the importance of speed in responding to customer inquiries and complaints with the aim of enhancing public confidence in the banking sector.

     It is noteworthy that holding this workshop came as a continuation of the plan of the Central Bank of Iraq to expand the role of these vital departments in banks and enhance their role, which is reflected in the development of services provided to the public.     

Central Bank of Iraq     information Office     18 - February – 2024   https://cbi.iq/news/view/2514  

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

Points To Ponder on Anxiety about the Future

Go forth to meet the shadowy Future without fear and with a manly heart.  - Henry Wadsworth Longfellow

I may be compelled to face danger, but never fear it, and while our soldiers can stand and fight, I can stand and feed and nurse them.  - Clara Barton

The fishermen know that the sea is dangerous and the storm terrible, but they have never found these dangers sufficient reason for remaining ashore.  - Vincent van Gogh

Fear is one thing. To let fear grab you and swing you around by the tail is another.  - Katherine Paterson

I have not ceased being fearful, but I have ceased to let fear control me.  - Erica Jong

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

Goldilocks' Comments and Global Economic News Sunday Evening 2-18-24

Goldilocks' Comments and Global Economic News Sunday Evening 2-18-24

Good Evening Dinar Recaps,

The Central Bank of Iraq revealed the mechanism for accepting and studying applications for granting licenses to electronic payment companies, confirming the continued receipt of licensing applications.

The Central Bank specified that the applicant, whether a natural or legal person, must have at least three years of experience in the field of electronic payment and the payments industry, and this includes the founders and participants, indicating that the application includes a detailed explanation of the added value to the electronic payment sector in Iraq that will be provided by the company to be licensed. Especially in the field of modern collection techniques and enriching the Iraqi market with distinguished and applicable service.

The bank stressed the necessity of submitting a request for a detailed technical feasibility study of what the company to be licensed will provide, pointing out that the request includes the minimum standards for accepting applications for obtaining a license to operate as an electronic payment service provider, in addition to what is stated in the electronic money payment services system No. (3). For the year 2014.

The bank confirmed that it will reject all applications that do not meet the aforementioned licensing conditions.   https://cbi.iq/news/view/2515

~~~~~~~~~~

Iraqi Bank Announcement:

The Central Bank of Iraq is currently in process of revealing their electronic mechanism for the new global digital economy.

Going forward, they will be granting license applications for electronic payment companies from around the world.   https://cbi.iq/news/view/2515

© Goldilocks

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China Plans to Accelerate Cross-border Data Transfersby Implementing Trial Rules in Shanghai Pilot Free Trade Zone

"...cooperation with the Digital Economy Partnership Agreement (“DEPA”) countries in the field of digital trade, actively establishing the Lingang Special Area as a model site of DEPA cooperation[4], and promoting the implementation of new rules such as “paperless trade."

China is in process of Accelerating Cross-Border Data Transfers through Implementing trial rules in the Shanghai pilot free trade zone.

The transfer of personal data to another country requires the testing of protection laws through controllers to fulfill the needed requirements when transferring personal data across borders.

These new data rules are being tested on the Shanghai Exchange and accelerated to test and implement these new digital monetary policies.

The Shanghai Exchange incorporates much of Asia and the Middle East in trade going across borders from the East to the West.

This test pilot will allow China the ability to comply with the new Digital Asset-Based Trading System data requirements enabling trade on a global scale to move forward.

The Chinese Yuan is utilized on the Shanghai Exchange, and they have already told us they are considering a gold-backed Chinese Yuan to lead the way in trade among the Nations they trade with going forward.

The Shanghai Exchange is the third largest market exchange in the world. It has a market cap of nearly 7 trillion dollars in assets. A Golden Yuan that trades with markets around the world through the Shanghai Exchange will significantly change monetary policies around the world to keep pace with these new developments.

And, we must not forget that the Shanghai-Hong Kong Stock connection will enable their new pilot program on stablecoins to play an important part of the global payment systems around the world to function freely on the Shanghai Exchange that connects to the rest of the global economy.

All roads lead to gold, and "digital gold" will set us free.

© Goldilocks
Hunton Privacy Blog
Practical Law
Statista
FDI China

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INTERVIEW: Iraq’s planning ministry spearheads multi-faceted development strategy |   Zawya

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CP 375 Proposed changes to the ASIC Derivative Transaction Rules (Reporting): Third consultation 

This consultation paper proposes further amendments to the ASIC Derivative Transaction Rules (Reporting) 2024 in relation to outstanding matters from our prior consultations released in November 2020 and May 2022.

It sets out our proposals on simplifying the exclusion of exchange-traded derivatives and the scope of foreign entity reporting, and the removal of the alternative reporting provisions.

It also addresses certain additional data elements and other matters that have been raised by industry, and consequential changes to the ASIC Derivative Transaction Rules (Clearing) 2015.  ASIC

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What Is Blockchain Cross-Chain Communication Infrastructure And Top 10 Amazing Ways It Is Helpful

A blockchain cross-chain communication infrastructure refers to a set of protocols, tools, and technologies designed to facilitate communication and interoperability between different blockchain networks. As the blockchain ecosystem continues to expand with the emergence of numerous blockchains, each with its own set of features, consensus mechanisms, and native assets, the need for seamless interaction between these networks becomes increasingly crucial.

The concept of cross-chain communication infrastructure addresses the limitations of isolated blockchain networks, enabling them to exchange data, value, and assets securely and efficiently. This infrastructure plays a pivotal role in unlocking the full potential of blockchain technology by fostering collaboration, innovation, and scalability across disparate blockchain ecosystems. Blockchain Magazine

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Stellar Prepares to Launch Protocol 20 This February; Here’s What to Expect Post-Launch |  Zycrypto

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Shadow of Ezra (@ShadowofEzra) on X

Truckers are now refusing to deliver goods to New York, after the court ruled Trump had to pay over $350 million in fraud.

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👆 Uh Oh... This is expected to cost our economy billions of dollars in New York alone. The ripple effect will cost even more.

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More Government Debt than buyers. A reset is coming. |  11onze

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