DINARRECAPS8 2/28/24 DINARRECAPS8 2/28/24

Goldilocks' Comments and Global Economic News Wednesday Evening 2-28-24

Good Evening Dinar Recaps,

"This suggests that the gap between weekends and weekdays could deepen further as ETFs gain traction and change the market structure,” Kaiko concluded.

Since the dawn of spot Bitcoin ETF, trading volumes over the weekend have moved over to Traditional Market hours Monday through Friday.

People are beginning to wake up to the fact that a digital economy is well underway, and the markets are shifting from weekend trades to traditional Market hours.

This move is indicating that sentiment towards a digital economy is growing, and the measurement of new values on digital assets are beginning to move M-F with the traditional market hours.

This has raised the level of professionalism inside the CRYPTO Market giving those who trade these assets more validity as a trader.

Good Evening Dinar Recaps,

With big names like BlackRock and others pouring their money into the crypto markets and moving out of the stock market, it is shaping the world of crypto. The merge of these two markets into one is well underway.

It is a market that has to be dealt with as tokenized assets have been given the green light as of yesterday to begin moving and expanding Networks across the Sorobon mainnet.

Sorobon is a smart contract Network designed to draw in institutional money as well as the entrepreneur seeking to add a little pocket change.

Look for a stablecoin regulation to become a main priority at this point on the legislative level. Once these moves are made, they will turn on these Networks to full blast.

The merging of tokenized assets and digital payment systems through stablecoins and smart contracts are a phase of development that is picking up steam. The Block

© Goldilocks

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Lloyds Bank has become the first UK bank to join the WaveBL electronic trade documentation platform, unlocking new trade efficiencies and sustainability benefits for its clients by using electronic Bills of Lading (eBLs).

Bills of Lading are a critical document in international trade. They are issued by a carrier when a seller dispatches goods to an end customer, and act as a ‘receipt’ for the goods being shipped.

Once payment – or agreement to pay at a future date – for the goods is received, the Bill of Lading is released to the buyer so they can claim the product on arrival.

The vast majority of Bills of Lading are currently in paper form. Through this new partnership, Lloyds Bank’s clients will now be able to securely and seamlessly transfer fully digital, blockchain-based eBLs between organisations on the WaveBL network, which boasts members in 136 countries and includes four of the world’s ten largest container shipping carriers.

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Google Announcement:

"Google has declared the discontinuation of Google Pay in the United States. The tech giant announced that all users will be transitioned to Google Wallet, with the standalone Google Pay app in the US set to become unusable from June 4, 2024." Finance Magnates

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BRICS Move Away from Dollar: Loans Now in Yuan, Marking Shift in Global Power Dynamics | Crypto News Flash

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BlackRock Bitcoin ETF (IBIT) Hits Another Record Volume Over $1.35B as BTC Price Nears $57K | CoinDesk

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When Ethereum spot ETF is approved, watch for Bitcoin smart ETF holders to diversify into the new Ethereum ETF.

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When hyperinflation hits our economy and we are very close, this will slow the money velocity to a near stopping point.

It will allow new connections to be made in the market inside a digital monetary framework.

Just know there is a purpose in it all and be prepared: food, shelter, toilet paper, and water are your best friends.

During this time, the most important assets you will hold will be your friends and family.

© Goldilocks

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Ripple Announcement:

According to a new announcement, Ripple and the Axelar Foundation are partnering to bring greater interoperability to XRP Ledger (XRPL) across several blockchain networks.

This collaboration aims to drive forward a more interconnected blockchain ecosystem, providing developers with new integration and application development opportunities. Axelar's network will be a supplementary resource for XRPL, increasing its utility and reach.

Ripple President Breaks Silence on Latest XRP Ledger Game-Changing Move Today

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The market charts are beginning to show topping formations. USBank

© Goldilocks

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DINARRECAPS8 2/28/24 DINARRECAPS8 2/28/24

Iraq Economic News and Points to Ponder Wednesday Afternoon 2-28-24

Tlm724 Administrator Bondlady’s Corner

Iraq Is Holding Discussions With The International Monetary Fund Within The Framework Of Article IV Consultations In Amman

Wednesday 28, February 2024 16:36 | Economical Number of readings: 404 Baghdad / NINA / The Iraqi delegation, headed by Finance Minister Taif Sami Muhammad, held discussions with International Monetary Fund experts within the framework of Article IV consultations, held in the Jordanian capital, Amman.

The discussions focused, according to a statement by the Ministry of Finance, on the reform program for the Iraqi economy and the steps adopted by the Iraqi government towards strengthening financial and banking policy, digital infrastructure, financial inclusion and public debt issues, in addition to the measures taken to mitigate the repercussions of international conflicts and their effects on the economy.

During the consultations, the delegation is also holding discussions related to a road map towards increasing non-oil revenues and enhancing coordination between financial and monetary policies in Iraq, in addition to defining joint work programs that include the IMF providing the necessary technical and advisory support for the economic reform adopted by the Iraqi government in achieving financial and monetary stability, and improving The level of financial planning for budgets and the continuity of implementation of important development projects.

Iraq Economic News and Points to Ponder Wednesday Afternoon 2-28-24

Tlm724 Administrator Bondlady’s Corner

Iraq Is Holding Discussions With The International Monetary Fund Within The Framework Of Article IV Consultations In Amman

The statement noted: “The Fund’s expert mission praised the government measures to improve the business climate and stimulate the investment environment, indicating that Iraq is achieving progress in the growth of non-oil domestic product and strengthening public financial management.”

The mission stressed the importance of maintaining economic stability and supporting social protection, praising the remarkable progress in maintaining economic and financial stability, represented by low inflation rates and an improvement in the balance of payments, as well as stimulating economic diversification and creating job opportunities led by the private sector./End 8

https://ninanews.com/Website/News/Details?key=1110307

Al-Rasheed Launches The Deposit And Transfer Service On Electronic Cards

Economy News – Baghdad Al Rasheed Bank announced, on Wednesday, the launch of the deposit and transfer service on electronic cards.

A statement from the bank, seen by Al-Iqtisad News, stated, “In line with the government’s directives and implementation of the government program, Al-Rasheed Bank announces the launch of the deposit and transfer service via the electronic payment card from (Nakheel).”

He added, "All Rasheed Bank card holders, including bank employees, state departments, security forces, and retirees, can make deposits and withdrawals using the electronic card," specifying "a number of its branches to receive all those wishing to make deposits."

Views 180 02/28/2024 -https://economy-news.net/content.php?id=40966

The Dollar Is Declining In All Governorates Of Iraq

Economy | 02/28/2024 Mawazine News – Baghdad The exchange rates of the US dollar decreased on Wednesday in the local markets in Baghdad and the governorates.

The Al-Kifah and Al-Harithiya stock exchanges recorded an exchange rate of 151,000 dinars for 100 dollars, with the selling price reaching 152,000 Iraqi dinars, while the buying price reached 150,000 dinars for every 100 dollars. Below is a list of exchange rates in the rest of the governorates:

$100 = 151,400 Basra $100 = 150,850 Erbil $100 = 150,950 Sulaymaniyah

$100 = 151,200 Karbala $100 = 151,000 Kirkuk $ 100 = 151,100 Babylon

$100 = 150,850 Dohuk $100 = 151,000 Mosul $100 = 151,300 Najaf

$100 = 151,000 with a penalty of $100 = 150,800 Zakho https://www.mawazin.net/Details.aspx?jimare=242868

Parliamentary Finance Presents 7 Proposals To Develop The Iraqi Banking System

Political | 02/28/2024 Mawazine News – Baghdad The Finance Committee in the House of Representatives announced today, Wednesday, that three laws are close to their final stages of legislation to develop the financial system and banking institutions in Iraq, while it presented 7 proposals to develop the Iraqi banking system.

The head of the committee, Atwan Al-Atwani, said during the annual conference on finance and banking services, which was held on the grounds of the Baghdad International Fair, that “the conference is an important opportunity to discuss files and issues at a high level of importance, and to establish future financial and economic partnerships between Iraqi banks and companies with their counterparts in neighboring countries and the world.” ".

He added, "The banking system is one of the most important tools for the economic growth process of any country, given its effective role in achieving stability in the financial system in general and achieving growth in particular, by financing productive projects as a link between investors and depositors."

He continued, "And also by transferring money from people who own it and do not have an opportunity to people who need it and have investment opportunities, thus contributing effectively to raising the level of economic activity, achieving economic growth, and alleviating and addressing economic problems, until banks have become indispensable institutions." than in any economic system.

He pointed out, "The Iraqi economy suffers from many problems, so it is necessary to turn to the banking sector, to achieve economic growth for productive projects in the private sector, in order to alleviate and address economic problems, especially the problem of the financial deficit in the budget, through the use of financial tools in order to Achieving economic and social goals.

He stated, “Local public and private banks have a long history and a prominent position, but unfortunately, during the era of the former regime, these financial institutions were subjected to a decline in their capabilities, due to wrong policies that negatively affected the level of their services, and their interruption from the progress of the global banking industry.” .

He went on to say: “Wars and sieges are the peg on which the exterminated regime hung its mistakes for the purpose of justifying them, which placed our local banks in complete isolation from openness and cooperation with Arab and foreign banks.”

Al-Atwani explained, “The goal we are seeking today is how we can achieve a qualitative leap in developing our banking services, in order to ensure that we catch up with developed countries in this field,” pointing out that “this mission requires a high national effort from our relevant institutions, by... The relevant authorities are open to foreign banking developments.”

Al-Atwani presented a number of development proposals, which are:

First: Providing the banking institution with competent financial and technical staff and ensuring the development of its skills and capabilities by involving it in training courses outside Iraq and training it on modern methods of banking and completing banking transactions using modern methods, while training them on the use of advanced technical devices.

Second: Equipping banks and banks with modern, advanced devices in all fields and financial activities, and introducing the automated teller machine service in all branches in a way that ensures easy and smooth disbursement for all clear account holders.

Third: Establishing quality measurement centers in all banks and activating their role in receiving development ideas and opinions, while honoring the owners of those ideas that are proven in practical fields and whose results are reflected positively in developing the performance of banks, with the aim of evaluating innovators and urging them to present other creative ideas that achieve comprehensive advancement in all sectors. Banks and refineries.

Fourth: Opening horizons for cooperation and coordination between Arab and international banks and banks, for the purpose of benefiting from the experiences of those financial institutions that preceded us in development, achieving qualitative shifts in the performance of our banks and reducing the time factor to ensure that we join the advanced ranks of the regional and international banking industry.

Fifth: Encouraging scientific studies and research aimed at developing outstanding performance in our financial institutions and ensuring that these recommendations, studies and research are transformed from their theoretical reality into a tangible practical reality that reflects positively on commercial and future economic developments.

Sixth: Studying the possibility of opening branches of Iraqi local banks, for the purpose of expanding the circle of banking activity, providing the best services, and attracting more customers from banks as a means of attracting capital.

Seventh: Approving the basic principles for using interest to ensure an increase in deposits, as well as ensuring that the process is safe from counterfeiting, and addressing issues related to money laundering in order to preserve the value of the national currency and the country’s economic interests.

He pointed to “the efforts of the executive and legislative authorities at the present time in developing the financial system and banking institutions through their efforts to implement and legislate the relevant laws, which have reached their final stages, which are first: the draft securities and commodities law, which seeks to regulate the work of financial and commodity markets and control securities trading operations.”

Cash and commodities in a way that enhances economic activity, strengthens the investment environment, and encourages the process of capital formation.”

He continued, "The second project is the Banking Studies Center Law, which aims to scientifically develop banking work and raise the level of technical and professional performance in the banking system. The third project is the Islamic Investment Sukuk Law, which aims to create and diversify investment tools in the Iraqi financial market." “And enabling Islamic banks and Islamic financial companies to contribute to the development of economic projects.”

https://www.mawazin.net/Details.aspx?jimare=242891

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

Provoking Points To Ponder on Deception:

A delusion, a mockery, and a snare. - Lord Denman

We are never deceived; we deceive ourselves. - Goethe

Which I wish to remark - And my language is plain, - That for ways that are dark And for tricks that are vain, The heathen Chinese is peculiar. - Bret Harte

Hateful to me as are the gates of hell, Is he who, hiding one thing in his heart, Utters another. - Homer

You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all the time. - Abraham Lincoln

It is double pleasure to deceive the deceiver. - Jean de la Fontaine

"Will you walk into my parlour?" Said the spider to a fly: '"Tis the prettiest little parlour That ever you did spy." - Mary Howitt

One is easily fooled by that which one loves. - Moliere

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

http://famousquotesandauthors.com/quotes_by_topic.html

Dinar Recaps 20 2/28/24 Dinar Recaps 20 2/28/24

"Tidbits From TNT" Wednesday Morning 2-28-2024

TNT:

Tishwash: What is the impact of Iraq's joining the BRICS group?

Former member of the Foreign Relations Committee in the House of Representatives, Khaled Al-Assadi, confirmed on Tuesday that the Sudanese government’s request to join the BRICS economic group is an extremely important step to organize the relationship with the Russian side politically, economically and security-wise, noting that Russia announced its support for the Iraqi request.

Al-Asadi told Al-Maalouma, “The Iraqi government’s request to join the BRICS economic group is an extremely important step for the Sudanese government to diversify its relations with various countries of the world, especially Russia and the countries organizing the group.”

He added, "Iraq will actually participate in the group's meetings until it gains full membership after completing the membership requirements procedures," noting that "Russia announced its support for the Iraqi request."

The Russian ambassador to Baghdad, Elbrus Kutrashev, affirmed Russia's position in support of Iraq's accession to the BRICS economic group, expressing Russia's readiness to generously assist Iraq if it joins the group. link

TNT:

Tishwash: What is the impact of Iraq's joining the BRICS group?

Tishwash: It will be influential.” Iraq completes its preparations to join the World Trade Organization

Today, Tuesday (February 27, 2024), the BNN network, which specializes in economic affairs, revealed that the Iraqi government has completed the requirements for joining the World Trade Organization after its internal economic and trade conditions “improved,” in addition to improved investment conditions.

The network said, according to what Baghdad Today translated, that Iraq has completed all preparations within the timetable set for it by the organization to integrate its commercial operations with its businesses around the world, stressing that Iraq is now able to enter the global trade market through the organization on a large scale.

It is noteworthy that Iraq submitted an application to enter the organization in 2004, and the application remained pending until the conditions for entry into the international organization were met, which have now ended.

The network says that Iraq "will return to becoming an influential member in terms of international trade and economics through the role it enjoys geographically and economically among the countries of the organization." link

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Tishwash: An expert criticizes the US Federal Bank

Economist, Dr. Mahmoud Dagher, criticized the duplication in the work of the US Federal Reserve towards Iraqi banks.

Dagher said, “What is happening in the Iraqi banking system is a duality that is difficult to explain. The Financial Action Committee (FATF MENA) issued the results of the periodic review of Iraq, keeping it in the white area, as an expression of the commitment of Iraq and its banking institutions to acceptable performance in combating money laundering and combating the financing of terrorism, and the procedures and policies applied.” “Compatible with international standards set by the Financial Action Committee concerned with financial standards at the international level.”

He continued: “But a strange and inexplicable duality has emerged, which is the Federal Reserve’s continued restriction of most Iraqi banks from accessing the country’s wealth and its dollar reserves, and this is what makes the duality inexplicable, but rather leads to attribute this to political matters that have nothing to do with the application of financial rules.” The international resolution was decided by the Financial Action Committee in Iraq.

Dagher asked: “Who will solve this contradiction and save our banking system link

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Tishwash: Parliamentary Finance calls on banks to open branches outside Iraq

The head of the Parliamentary Finance Committee, Atwan Al-Atwani, presented eight proposals to develop banking services for Iraqi banks, while calling on banks to open branches outside Iraq and finance investment opportunities.

Al-Atwani said, during the “Finance and Banking Services” conference, which was attended by the “Al-Iqtisad News” correspondent, “We must turn to the banking sector, to address the problems of the Iraqi economy, by financing productive projects and using financial tools to finance the budget deficit.”

Al-Atwani stressed the need for banks to finance investment opportunities, which contributes to the growth of the economy and turns them into indispensable institutions.

The Chairman of the Parliamentary Finance Committee warned that Iraqi banks have a long history and a prominent position, but they were subjected to the wrong policies of the previous regime, which led to their curtailment.

Al-Atwani proposed 8 points for developing banking work, which are:
1- Providing banking institutions with efficient financial and technical staff, and ensuring the development and qualification of their tools and capabilities by involving them in training courses outside Iraq on modern methods of banking, and completing banking transactions using modern methods.

2- Equipping banks and banks with modern, advanced systems in all financial fields and activities and introducing the ATM service to all banks.

3- Establish quality measurement centers in all banks and activate their role by receiving development ideas and visions while honoring those with ideas that prove successful in practical fields.

4- Opening horizons for cooperation and coordination between Arab and international banks and institutions; For the purpose of benefiting from the experiences of those financial institutions that preceded us in development in order to achieve a qualitative shift in Iraqi banks and reduce the time factor to ensure that we join the ranks of the advanced in the banking industry.

5- Encouraging scientific studies and research aimed at developing outstanding performance in our financial institutions, and ensuring the translation of those studies and research from a theoretical reality into a tangible practical reality that reflects positively on the economic level.

6- Study the possibility of opening new branches of local banks outside Iraq for the purpose of expanding the circle of banking activity, providing the best services and attracting more customers to these banks.

7- Approving the basic principles for using interest, to ensure an increase in deposits, ensuring that the process is safe from counterfeiting and addressing issues related to money laundering.

8- It is necessary to point out the efforts of the legislative and executive authorities at the present time in developing the financial system and banking institutions through their efforts to complete and approve the relevant laws, which have reached the final stages, which are:

A - The draft Securities and Commodities Law, which seeks to regulate financial markets and control trading operations in a way that enhances the economic process.

B- The draft law on the Center for Banking Studies, which aims to scientifically develop banking work and raise the level of professional performance of the banking system.

T- The draft Islamic investment sukuk law, which aims to create and diversify investment tools in the Iraqi financial market link

Mot: .. Once! - ole""Fred"" had a Truck!!!

Mot: They should get a New Window Washer.. This guy left a bunch of Streaks....

https://www.youtube.com/watch?v=23uqK4Fyq-w

Dinar Recaps 20 2/28/24 Dinar Recaps 20 2/28/24

MilitiaMan: Iraqi Dinar - IQD Update - WTO Accession - Obligations - ASYCUDA - International Trade Requirements

Iraqi Dinar - IQD Update - WTO Accession - Obligations - ASYCUDA - International Trade Requirements

MilitiaMan and Crew: 2-27-2024

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

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

Iraqi Dinar - IQD Update - WTO Accession - Obligations - ASYCUDA - International Trade Requirements

MilitiaMan and Crew: 2-27-2024

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=d9jTMb78m24

DINARRECAPS8 2/27/24 DINARRECAPS8 2/27/24

Goldilocks' Comments and Global Economic News Tuesday Evening 2-27-24

Good Evening Dinar Recaps,

SEN. CRUZ INTRODUCES LEGISLATION TO BAN CENTRAL BANK DIGITAL CURRENCIES

Sen. Cruz previously introduced legislation to prohibit the Federal Reserve from developing a direct-to-consumer central bank digital currency which could be used as a financial surveillance tool by the federal government in both 2022 and 2023. 6 hours ago Cruz Senate

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"Let’s show WTO is alive': UAE foreign trade minister says conference can be 'launch pad' for global trade"

The World Trade Organization is discussing with several countries how they are reforming the standards and percentages of trade opportunities among countries from around the Globe.

Focus is on leveling the playing field among some of the smaller countries giving them equal foothold and standing on the world stage.

Goldilocks' Comments and Global Economic News Tuesday Evening 2-27-24

Good Evening Dinar Recaps,

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Offering more Trade Networks for countries will give each country the ability to grow in bilateral trade relationships that will increase the need for their goods and services not seen before.

New demands on local currencies instead of the use of the dollar will provide greater purchasing power for these countries in process of Ascension into the WTO this week, of which, Iraq is one of them. Zawya

© Goldilocks

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"The future of DeFi savings is here: High Yield USD (hyUSD) is a fully asset-backed flatcoin created on the Reserve protocol."

High Yield USD (hyUSD) is an overcollateralized DeFi savings flatcoin. It offers up to 8% APY for holders with the deployment of Reserve Protocol.

The Reserve protocol allows users to create tokens backed by a collection of other tokens, which can be used as stablecoins or composite assets.

Composite assets allows the grouping of many Digital Networks or Assets to minimize risks and enhance profit on their growth.

With the emergence of Protocol 20, Web3 and Artificial Intelligence are merging blockchain groupings together.

The joining of Networks on the QFS is currently allowing us to expand into decentralized protocols in the monetary system separating us from Centralized Programs of the Old Financial System.

The deployment of these new digital smart contracts allows the interfacing of new Quantum Technologies. This is why an open banking system is important. It allows us to merge with new technologies inside the new Digital Asset Based Trading System.

When distributed ledgers have similar information records called blocks. They begin to talk to one another forming alliances on the blockchain.

Soroban and Ethereum are currently joining forces to expand our QFS into new opportunities. The emergence of our new digital economy is beginning to take baby steps into the future. The Defiant
CoinDesk FX Empire
© Goldilocks
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We are clearly witnessing a shift in money flows regarding Treasury Bonds. The Global Economy is already changing the way we live and how we invest in the future.

Investor sentiment is changing. The move from intermediate-term Treasury Bonds to bonds with maturity dates of two, three, five, and even 10 years out is getting a second look.

Society is realizing that our economy is in transition, and many investors are beginning to pour their money into longer-term opportunities to grow their money. It looks like people are beginning to bank on a brighter future.

As our tokenized assets settle into new price patterns, the new digital gold economy will bring in new life inside a QFS. CNBC
© Goldilocks

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We are living in a time whereby every asset on the market is connected. Instead of assets competing with each other, the future of our Global Markets are designed to enhance one another's growth.

Gold is the bridge into this new economy through tokenized assets. And, the collaboration between networks and assets governed by standardized protocols will support each other's growth in a way not seen before in history. The Global Treasurer

"Where we go one, we go all."

© Goldilocks

~~~~~~~~~~

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DINARRECAPS8 2/27/24 DINARRECAPS8 2/27/24

Iraq Economic News and Points to Ponder Tuesday AM 2-27-24

Tlm724 Administrator Bondlady’s Corner

The Minister of Commerce discusses in Abu Dhabi with the World Trade Organization the completion of procedures for Iraq to join the organization

Tuesday 27, February 2024 | Economical Number of readings: 168 Baghdad / NINA / The Minister of Commerce, Atheer Al-Ghurairi, met in Abu Dhabi with Assistant Director-General of the World Trade Organization, Zunk Shank Shank, and discussed with him the completion of Iraq’s procedures to complete the required files, support reforms and legislation to be consistent with the market system, and strengthen the country’s economic capabilities to complete the requirements of the next stage of the accession process.

The Minister stressed in a statement, “the keenness of the working group on accession to continue by strengthening cooperation with the organization’s accession department and the head of the working group, Saudi Ambassador Saqr al-Muqbel, whose recent visit to Iraq provided great support for the efforts and steps taken by the national committee concerned with accession, which he chaired, to complete all requirements in a way that achieves Iraq's integration into the multilateral trading system.

During the meeting, the minister stressed "the hope that the efforts of the organization's working group will focus on supporting the accession of important countries, including Iraq."

Iraq Economic News and Points to Ponder Tuesday AM 2-27-24

Tlm724 Administrator Bondlady’s Corner

The Minister of Commerce discusses in Abu Dhabi with the World Trade Organization the completion of procedures for Iraq to join the organization

During the meeting, the minister stressed "the hope that the efforts of the organization's working group will focus on supporting the accession of important countries, including Iraq."

Al-Ghurairi continued, "The Iraqi government, within its government program and the measures it took to raise the level of draft laws and support the role of the private sector, recorded international signals of its endeavor and eagerness to return to the economic system due to its geographical and economic importance in the region."

For his part, the Assistant Director General of the organization confirmed, “The organization is looking forward to and following the steps for Iraq’s accession carefully, given that Iraq is one of the important and powerful economies that is still outside the organization, and that Iraq’s presence within the organization’s membership will be a great added value to the organization and to the global economy.”

He praised the advanced stages accomplished by the Ministry of Commerce in terms of completing and submitting the technical files on goods and services in trade, which will speed up the holding of the third round of negotiations, wishing for the continuity and continuity of momentum and work to complete the requirements for accession, amend the required laws and legislation, and complete the technical files within their specified timing, as the team will present We support him to complete his journey to join and we celebrate him in the next ministerial meeting of the organization.”/End H

https://ninanews.com/Website/News/Details?key=1110086

Parliamentary Finance Calls On The World Bank To Develop The Iraqi Banking System

Economy News _ Baghdad Today, Tuesday, the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop the Iraqi banking system.

The media office of the Presidency of Parliament said in a statement received by Al-Iqtisad News, “The Chairman of the Finance Committee, Atwan Al-Atwani, participated via closed circuit television in the deliberative meeting of the International Monetary Fund regarding the financial and economic situation in Iraq.”

The office added, "Al-Atwani provided a briefing on the financial and economic situation and the items and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development."

According to the statement, Al-Atwani stressed that “approving the tripartite budget gave the government great flexibility in terms of contracting, implementing projects, and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending and financing and implementing plans and programs, seeks integration between the legislative and executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the people’s aspirations.”

The Chairman of the Committee indicated that "the National Service Government is serious about moving the wheel of economy and development and has ambitious programs to advance various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget."

Al-Atwani called on the International Monetary Fund and the World Bank to "provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs, and other service sectors that generate financial revenues for the state."

191 views 02/27/2024 - https://economy-news.net/content.php?id=40915

There Is An Increase In The Dollar Exchange Rates In Iraqi Markets

Economy 02-27-2024 | 4,854 views Alsumaria News – Economy Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Tuesday, February 27, 2024.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 151,300 Iraqi dinars for 100 dollars, while selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 152,250 Iraqi dinars, while purchasing prices reached 150,250 dinars for every 100 dollars.

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

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

The Reality Of Imposing New US Sanctions On Private Iraqi Banks

Economy News – Baghdad An informed source denied reports of new sanctions being imposed on some private banks.

The source, who preferred to remain anonymous, told Al-Eqtisad News that there is no truth to the reports that the US Treasury has recently imposed sanctions on some private banks.

He stressed that a number of banks were prohibited from dealing in the dollar currency, which the Central Bank announced months ago. 225 views 02/27/2024 - https://economy-news.net/content.php?id=40908

Parliament Agrees With The European Union To Open Various Factories In Iraq

Reconstruction and building Economy News – Baghdad Today, Tuesday, the Parliamentary Investment and Development Committee announced its agreement with the European Union Ambassador Thomas Seiler to introduce European companies to the market and open various factories, while the ambassador confirmed that the Reconstruction and Development Bank will soon work in Iraq.

The head of the committee, Hassan Al-Khafaji, said in a press conference held in the House of Representatives with the participation of the European Union ambassador, that “the committee hosted the European Union ambassador to discuss a number of files related to new legislation,” noting that “it was agreed to cooperate and work together to combat corruption, introduce European companies into the Iraqi local market, and exchange experiences.”

"Economic and commercial, opening new European factories in Iraq and refining the capabilities of Iraqi competencies in various fields."

He continued: “We asked the European side to open a permanent office and headquarters inside Iraq, since it has no headquarters except inside the British Embassy,” explaining, “We asked to open banking branches in Iraq that finance industrial and investment projects while providing full support from the government and the House of Representatives in the fields of reconstruction and investment.” And loans.”

He stated, “There are currently joint projects in Baghdad, Babylon, and Holy Karbala, where the European Union is interested in infrastructure,” pointing out, “We have requested funding for many projects, especially with Iraq’s accession to the International Arbitration Organization and the vote on the partnership law between the private and public sectors, which allows companies "For foreigners to enter and work in Iraq and participate with the private sector for reconstruction and building a new Iraq."

He stressed that "it was agreed on unified action to bring in solid companies similar to companies operating in the Middle East and international companies that contributed to building Iraq's factories during the eighties and seventies."

For his part, the European Union Ambassador to Iraq, Thomas Seiler, said during the conference: “We held a meeting with the Parliamentary Investment and Development Committee in our capacity as the European Union delegation, as one of the outcomes we came up with is that the European Union must make more efforts for European companies to invest in Iraq, and we must “Work together to provide the conditions that enable Europe to invest more in Iraq,” explaining that “the legislative necessities were discussed in order to achieve economic stability in Iraq as well as investment stability, and these are steps that must be taken by Parliament.”

He stated that "there are many laws that support this aspect, including the investment law, the partnership law between the public sector and the private sector, and other laws," explaining that "this is part of the government's approach to combat corruption and support investment and the economy."

He stated: “Today we discussed many issues and many details, and this is part of Europe’s interest in the stability of Iraq, as we see that Iraq can play an important central role in the region politically and economically,” pointing to “the necessity of developing the European Union’s investment programs, especially the financial and banking institutions, which are the Bank.”

The European Union for Reconstruction and Development, which we expect will soon come to work in Iraq, as well as the European Investment Bank, which is concerned with providing loans and expertise to support infrastructure projects, but we have committed ourselves to working in this aspect for the benefit of the Iraqi citizen, and we will cooperate with local authorities to achieve this.”

Views 51 02/27/2024 https://economy-news.net/content.php?id=40924

Al-Nahrain Islamic Bank Announces The Granting Of POS Devices To State Institutions And The Private Sector For Free

Time: 02/27/2024 18:08:37 Read: 546 times

{Economic: Al-Furat News} Al-Nahrain Islamic Bank (a government bank), in cooperation with the smart card company, announced the granting of electronic payment devices (pos) to state institutions and the private sector for free to facilitate banking transactions for citizens electronically.

In a statement, which {Al-Furat News} received a copy of, the bank called on those wishing to obtain (Pos) devices to: “review the bank’s management in Bab al-Muadham, the Jihad neighborhood branch in Baghdad, the Salam branch in Najaf al-Ashraf, and the al-Farahidi branch in Basra.” He added, “that he will work on training.” The technical personnel who will work to activate these devices and provide technical and logistical support to complete this work.”

He added, "This comes in line with the government program and the directives of Prime Minister Muhammad Shiaa Al-Sudani and Minister of Finance Taif Sami and in support of the decisions of the Central Bank of Iraq to move to electronic payment POS and limit cash transactions, which in turn will contribute significantly to enhancing government resources and collecting them in a reliable, safe and transparent environment." . LINK

Oil Stabilizes Amid Prospects For A Ceasefire In Gaza

Arab and international Economy News - follow up Oil prices were largely stable, Tuesday, as investors evaluated the prospects of reaching a truce in Gaza, against the current situation in the Middle East.

By 09:23 GMT, Brent crude futures fell ten cents, or 0.12 percent, to $82.43 per barrel.

US West Texas Intermediate crude futures fell seven cents, or 0.09 percent, to $77.51.

Attacks launched by the Houthi group in the Red Sea led to an increase in shipping prices and periods.

The US Central Command said on Monday that the Houthis fired a missile that likely targeted the oil tanker (Turm Thor), which flies the American flag, in the Gulf of Aden on February 24, but did not hit it.

In reference to stopping the escalation in Gaza, US President Biden said on Tuesday that Israel has agreed to stop military actions in Gaza during the month of Ramadan, while Hamas is studying a draft proposal for a truce that includes a temporary cessation of fighting and the exchange of detainees and hostages.

Oil prices also received support from indicators of improving demand in China, the world's largest crude consumer.

On Tuesday, the Russian authorities also announced a six-month ban on gasoline exports, starting on March 1, to maintain price stability in light of increasing consumer and farmer demand, as well as to provide the opportunity to maintain refineries in the world's second largest oil exporter.

The two crude oil prices rose more than one percent at settlement yesterday, Monday, after falling between two and three percent over the past week, with markets increasing expectations that interest rate cuts will take longer in the future.

The weekly US crude inventory data from the American Petroleum Institute is scheduled to be released at 21:30 GMT.

On the other hand, all eyes are on the OPEC+ alliance, which includes the Organization of the Petroleum Exporting Countries (OPEC) and other allies, with a planned decision approaching in March on whether to extend voluntary production cuts to support prices.

Views 27 02/27/2024 - 5:58 PM https://economy-news.net/content.php?id=40932

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

Provoking Points To Ponder on Deception :

Hood an ass with reverend purple. So you can hide his two ambitious ears, and he shall pass for a cathedral doctor. - Ben Jonson

Proportion is almost impossible to human beings. There is no one who does not exaggerate. - Ralph Waldo Emerson

Everything that deceives may be said to enchant. - Plato

We are never deceived; we deceive ourselves. - Goethe

All charming people have something to conceal, usually their total dependence on the appreciation of others. - Cyril Connolly

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

http://famousquotesandauthors.com/quotes_by_topic.html

Dinar Recaps 20 2/27/24 Dinar Recaps 20 2/27/24

Some International Iraq News Posted by Clare at KTFA Tuesday 2-27-2024

KTFA:

Clare: The Territory Commercial Bank announces financing Iraq's trade with India in rupees

2/27/2024 Baghdad

The Territory Commercial Bank announced financing trade between Iraq and India in the rupee currency.

The bank said in a press statement, “We announce the launch of a pioneering initiative to enhance trade exchange between Iraq and India, where trading partners can now conduct their financial transactions in the Indian rupee. This step aims to facilitate and accelerate commercial operations between the two countries by providing simplified and effective financial solutions.”

He added, "Within the framework of this initiative, the Territory Commercial Bank opened an account in Indian rupees with DBS Bank in New Delhi, which allows cross-border financial transactions to be carried out more easily and efficiently. This transformation aims to eliminate the challenges related to currency exchange and reduce transaction costs and the time required to complete them." “This will reflect positively on the efficiency of trade between Iraq and India.”

KTFA:

Clare: The Territory Commercial Bank announces financing Iraq's trade with India in rupees

2/27/2024 Baghdad

The Territory Commercial Bank announced financing trade between Iraq and India in the rupee currency.

The bank indicated that we assure our customers that all transactions in the Indian rupee will be conducted in accordance with the laws and directives set by the Central Bank of Iraq, to ensure complete safety and transparency in all operations.

The bank called on companies operating in the field of trade between Iraq and India to benefit from this service, which provides them with the opportunity to improve efficiency and reduce costs. LINK

Frank26: "THERE IT IS AGAIN & AGAIN!!!".........F26

Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq

2/26/2024 Baghdad –

Chairman of the Finance Committee, Representative Atwan Al-Atwani, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.

The media office of the Chairman of the Finance Committee stated in a statement received by the Iraqi News Agency (INA), that “The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, participated this evening, Monday, via closed-circuit television, in the deliberative meeting of the International Monetary Fund regarding the financial and economic situation in Iraq.”

He added, "Al-Atwani provided a complete briefing on the financial and economic situation and the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development."

Al-Atwani stressed, according to the statement, that “approving the tripartite budget gave the government great comfort in terms of contracting, implementing projects, and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending and financing and implementing plans and programs, seeks integration between the legislative and executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the aspirations of the people.”

Al-Atwani pointed out that “the National Service Government is serious about moving the wheel of the economy and development and has ambitious programs to advance various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget.”

Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support. For Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that generate financial revenues for the state. LINK

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Clare: The World Trade Organization approves new rules to facilitate the exchange of services

2/27/2024

On Tuesday, the World Trade Organization approved new rules to facilitate the exchange of services between more than 70 of its member countries, despite initial objection from India and South Africa.

The European Union said in a statement that the agreement will contribute, by facilitating administrative mechanisms and technical rules, to reducing the costs of global trade in services by more than $119 billion every year, according to Agence France-Presse.

In turn, European Trade Commissioner Valdis Dombrovskis explained, during the thirteenth Ministerial Conference of the World Trade Organization held in Abu Dhabi, that “reaching this result and integrating it into the World Trade Organization was not an easy matter.”

He added, "We faced opposition from two members of the organization, but the 'spirit of compromise' removed the obstacles in the end," without naming the two countries.

For her part, the Director-General of the Nigerian organization, Ngozi Okonjo-Iweala, thanked “India and South Africa for finding a way forward.”

The value of global services exports is estimated at more than $6.5 trillion, representing 23% of total global trade, according to the European Union.

The new WTO agreement applies to the 71 member states that have signed it – representing 92% of global trade in services – but businesses from other member states can benefit from it too.

China, the United States, and the European Union are among the signatories to the agreement, while India and South Africa have not signed it.

Costa Rican Foreign Trade Minister Manuel Tover, whose country led the negotiations on the agreement, considered it an “important stage” for the member states of the organization.

"This is the first result achieved by the WTO in the field of services in more than 25 years. It is a real success story for this organization," he said. LINK

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Clare: The Minister of Commerce discusses with the Director of the International Trade Center the formula for joint action and support for Iraq to obtain membership in the WTO

2/26/2024

Today, Monday, in Abu Dhabi, the Minister of Commerce, Atheer Daoud Al-Ghurairi, discussed with Pamela Cook-Hamilton, Executive Director of the International Trade Center ITC in Geneva, the formula for joint action, supporting Iraq’s accession to the World Trade Organization, and strengthening the capabilities of the administrative staff on the economic and commercial tracks.

During the meeting, the Minister stressed the Iraqi government's desire to integrate into the global multilateral trading system to stimulate and revitalize the role of the Iraqi economy by supporting reforms and legislation to be consistent with the market system and enhancing the country's economic capabilities.

Minister Al-Ghurairi pointed out that we in Iraq need to focus support in intensifying training and capacity building to create models from a generation of trained employees who are aware of the vision of the principles and concepts of the market economy to be qualified to lead the next stage in light of the government’s approach to this aspect.

Al-Ghurairi continued by saying: We are happy to work with your team and the support provided to complete the files required for Iraq’s accession to the World Trade Organization, stressing the desire to benefit from the capabilities of the center and its training institute to train and create a diplomatic, commercial generation.

For her part, the Director of the Trade Center expressed readiness to provide more support to Iraq to fulfill the requirements of the next stage in building and strengthening the capabilities of the new generation in accordance with market standards to achieve sustainable development goals and develop the institutional capabilities of the relevant ministries, in addition to strengthening the capabilities of the private sector and small and medium enterprises and supporting youth projects.

And increase their skills, stressing the center’s commitment to Iraq in providing all the support and technical assistance it needs, along with the continuity of joint cooperation, in a way that serves the directions of the Ministry of Commerce in strengthening its work in formulating economic and trade policy. LINK

Clare: The Minister of Commerce stresses the necessity of activating the joint committee between Iraq and Malta

2/27/2024 Baghdad

On Tuesday, Minister of Commerce Atheer Daoud Al-Ghurairi stressed the Iraqi government’s directions to expand and develop economic and trade relations at all levels with all countries of the world, while indicating the necessity of working to activate the joint committee emerging from the agreement signed between Iraq and Malta in 1985. LINK

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Clare: The Minister of Commerce discusses in Abu Dhabi with the World Trade Organization the completion of procedures for Iraq to join the organization

2/27/2024

The Minister of Commerce, Atheer Al-Ghurairi, met in Abu Dhabi with Assistant Director-General of the World Trade Organization, Zunk Shank Shank, and discussed with him the completion of Iraq’s procedures to complete the required files, support reforms and legislation to be consistent with the market system, and strengthen the country’s economic capabilities to complete the requirements of the next stage of the accession process.

During the meeting, the minister stressed "the hope that the efforts of the organization's working group will focus on supporting the accession of important countries, including Iraq."

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Clare: Parliamentary agreement with the European Union mission: European financial and banking institutions are preparing to invest in Iraq

2/27/2024

The Parliamentary Investment and Development Committee agreed, with the European Union mission in Iraq, on a number of economic files, while the European mission revealed new financial and banking projects to work in Iraq.

The head of the committee, Representative Hassan Al-Khafaji, said in a joint press conference today, Tuesday, “We hosted the European Union ambassador to discuss a number of files related to new legislation. We also agreed to cooperate to combat corruption, and to work together to allow European companies to enter the Iraqi local market, exchange economic and commercial experiences, and open new European factories.” In Iraq and refining the capabilities of Iraqi competencies in various fields.

He added, "We asked the European side to open a permanent office and headquarters inside Iraq because they currently have no headquarters except inside the British Embassy. We also asked to open banking branches in Iraq that finance industrial and investment projects, with full support provided by the government and the House of Representatives in matters of reconstruction, investment, and loans." He pointed out that there are currently joint projects in Baghdad, Babylon, and Karbala, where the European Union is interested in infrastructure. He

continued to say, “We requested funding for many projects, especially with Iraq’s accession to the International Arbitration Organization and the vote on the partnership law between the private and public sectors, which allows foreign companies to enter.” And to work in Iraq and participate with the private sector for reconstruction and building the new Iraq. We also agreed on unified action to bring in reputable companies similar to companies operating in the Middle East and international companies that contributed to building Iraq’s factories during the era of the eighties and seventies.

In turn, Ambassador Thomas Seller said, “We met with Parliamentary Investment and Development Committee: As a European Union mission, we concluded that the European Union must make more efforts for European companies to invest in Iraq, and we must work together to provide the conditions that enable Europe to invest more in Iraq.”

He added, "We discussed the legislative necessities in order to achieve economic stability in Iraq, as well as investment stability, and these are steps that must be taken by the Iraqi parliament, and there are many laws that support this, including the investment law, the partnership law between the public sector and the private sector, and others, and all of this is part of the trend." The government aims to combat corruption and support investment and the economy.”

He added, "We discussed many issues and details, and all of these are part of Europe's interest in the stability of Iraq, because we see that Iraq can play an important central role in the region politically and economically, and in order to achieve this we must talk about developing the European Union's investment programs, especially the financial and banking institutions, which are The European Bank for Reconstruction and Development, which we expect will soon come to work in Iraq, as well as the European Investment Bank, which is concerned with providing loans and expertise to support infrastructure projects.”

He explained, "This matter requires a lot of continuous work, but we have committed ourselves to working in this aspect for the benefit of the Iraqi citizen, and we will cooperate with the local authorities to achieve this." LINK

Dinar Recaps 20 2/27/24 Dinar Recaps 20 2/27/24

"Tidbits From TNT" Tuesday 2-27-2024

TNT:

Tishwash: House of Representatives: {Oil and Gas} is technical and can be passed

The Parliamentary Oil and Gas Committee pointed out that the oil law is one of the important laws that concerns all of Iraq and not the Kurdistan region alone, noting that its draft contains controversial points that need to be stopped, and despite this, the law can be passed.

Committee member Ali Al-Mashkoor explained, in an interview with Al-Sabah, that “there are seven points of contention regarding the oil law, some of which are administrative, some of which are professional, and the law cannot be proceeded with without being cleared by both parties,” indicating that “one of the administrative disputes in the law is the desire to The Kurdish side should have the right to veto the issuance of decisions.”

TNT:

Tishwash: House of Representatives: {Oil and Gas} is technical and can be passed

Al-Mashkour added, “The region’s percentage in the budget came from the export value of oil, and now there is no export of the region’s oil, not even production,” noting that “the financial share is an entitlement separate from the oil entitlement that the region is supposed to pay, but it will constitute a future obstacle in the budget.” Although it is a fixed share, as it is the right of the Kurdish citizen.”

Al-Mashkoor expressed his optimism in passing the oil and gas law, and said that “the draft can be legislated within an understanding and complementary process, but imposing opinions is incorrect,” explaining that “the law was returned to the government without revision or amendment, even if there were disagreements on some of its points.” ". Al-Mashkoor stated that “the oil law guarantees the rights of all governorates in the available proportion,” pointing out that “some governorates are demanding an increase in their share, whether the request is professional or administrative.” link

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Tishwash: After the exchange volume exceeded one billion dollars.. an Iraqi-Syrian move to adopt currencies other than the dollar

The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq and Syria has exceeded the billion-dollar barrier, while pointing out that there is a mechanism to adopt currencies other than the dollar in this exchange.

Sheikh Zaini said, “The joint committees between the two countries are looking for a mechanism for trade exchange away from the dollar, since Syria currently exchanges in the European currency (the euro),” according to the official newspaper.

He added, "There are other platforms and currencies that Syria exchanges with other countries, and Iraq may benefit from them in the event of trade with them, especially with the volume of exchange between the two countries reaching more than a billion dollars annually."

He stated that "the two countries may use the Russian ruble, the Japanese yen, the Chinese yuan, the Emirati dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the dollar and creating another platform in this regard."

He pointed out that "the use of other currencies in trade exchange between Iraq and Syria reveals the two countries' need for each other, by benefiting from products of various types, industrial and agricultural."

He explained, "There are joint Iraqi-Syrian committees at most levels, such as agriculture, industry, trade, transportation, customs, and everything related to food and medicine. They supervise the entry routes for goods and seek to overcome many obstacles that may hinder joint trade between the two countries." link

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Tishwash: Al-Atwani calls on the International Monetary Fund and the World Bank to provide the necessary support to Iraq

Chairman of the Finance Committee, Representative Atwan Al-Atwani, called on the International Monetary Fund and the World Bank to provide the necessary support to Iraq in the areas of exchanging experiences and training national cadres.

He added, "Al-Atwani provided a complete briefing on the financial and economic situation and the provisions and programs included in the tripartite budget law for the years (2023-2025) that are consistent with the government program to advance various sectors, activate the private sector, encourage investment, and support investors, in order to achieve sustainable development."

Al-Atwani stressed, according to the statement, that “approving the tripartite budget gave the government great comfort in terms of contracting, implementing projects, and attracting foreign companies to implement major projects,” pointing out that “the Finance Committee, through monitoring spending and financing and implementing plans and programs, seeks integration between the legislative and executive authorities.” Because we want this government to succeed, especially since it is taking steady steps towards achieving the aspirations of the people.”

Al-Atwani pointed out that “the National Service Government is serious about moving the wheel of the economy and development and has ambitious programs to advance various productive sectors and maximize non-oil revenues, to leave the state of excessive dependence on oil in forming the general budget.”

Al-Atwani concluded his participation by calling on the International Monetary Fund and the World Bank to provide the necessary support. For Iraq in the areas of exchanging experiences and training national cadres, to develop our banking system, especially as we are moving towards activating the digital financial dealing system and automating taxes, customs and other service sectors that generate financial revenues for the state. link

Tishwash: Parliamentary Finance: Last year’s budget was not spent as required and we are waiting for the new schedules

Member of the Finance Committee in the House of Representatives, Jamal Kujar, said that the 2023 budget was not spent as required, indicating that the Council is waiting for the 2024 budget schedules to be sent from the government.

Cougar stated in a press interview, “The budget was voted on for a period of 3 years, and the government is required to send the schedules for the year 2024 and the paragraphs that may witness amendments, especially related to the numbers of oil quantities in the event of an increase or change, as well as the projects and costs that have been allocated to them.”

He explained, “If a project from the previous budget is completed, it will be removed from the new tables, as well as the paragraphs related to the Kurdistan region in the event of a change to it,” pointing out that “the Finance Committee has no comments on some of the items, since they were voted on, but there may be.” Notes to the government, and these will inevitably be amended.”

He pointed out that “the budget schedules have not yet been voted on in the Council of Ministers, because the mechanism for passing them begins with collecting the budgets of the governorates and institutions in the Ministries of Planning and Finance, and then a draft is prepared and sent to the Council of Ministers for discussion, amendment and correction, and then it is returned to the Ministry of Finance, to be completed.” They are finalized and sent again to be voted on in the Council of Ministers, and finally to the House of Representatives.”

Cougar stated, “The budget amounts will be close to the 2023 budget, and there may be an increase in them, since the deficit included in the 2023 budget has not been achieved, meaning that there is no real deficit occurring, and there is a delay in spending the budget, and this led to it not being spent in the required manner.” link

Mot: . Amazing How This is Working - HUH!!!

Mot: They Say - Its NOT What Ya Say but How Yas Say it!!!

DINARRECAPS8 2/27/24 DINARRECAPS8 2/27/24

Iraqi News Highlights and Points to Ponder Tuesday AM 2-27-24

Finance Launches Financing The Operating Budget

The first 02/27/2024 Baghdad: Al-Sabah Finance Minister Taif Sami said that the salaries of employees for the year 2024 are fully insured, and that the ministry has launched the operational budget, and has also conditional the release of the salaries of the region’s employees for the current month on submitting lists of their names. Sami stated, during her meeting with the Finance Committee of the House of Representatives, yesterday, Monday, that “the employees’ salaries for the year 2024 are fully insured,” stressing that “the release of the salaries of the region’s employees for the current month is subject to the submission of lists of names, and we have stipulated nationalization in order to disburse them during the coming months.”

She added, "The Ministry has begun launching funding for the operational budget," noting that "the 2024 budget schedules will soon be sent to the Council of Ministers for approval and sending them to Parliament."

For his part, Chairman of the Finance Committee, Atwan Al-Atwani, said: “It was agreed with the Minister of Finance to keep the paragraphs of the 2023 budget related to appointments and contracts active and implement them during 2024.”

Iraqi News Highlights and Points to Ponder Tuesday AM 2-27-24

Finance Launches Financing The Operating Budget

The Parliamentary Finance Committee announced, earlier yesterday, Monday, the hosting of Finance Minister Taif Sami to discuss the financing file and other important files.

Meanwhile, the spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said: “Work is continuing to complete the 2024 budget schedules in coordination with the Ministries of Finance and Oil and the relevant authorities, so that they will be discussed soon by the government and then sent to the House of Representatives.”

He explained, "The budget tables include the volume of revenues for the year 2024 and the volume of expenditures in their operational and investment aspects." https://alsabaah.iq/92515-.html

Finance announces the imminent sending of the 2024 budget schedules to Parliament and pledges the release of Kurdistan salaries on one condition

02-27-2024 By Sotaliraq Finance Minister Taif Sami announced on Monday that the 2024 budget schedules will soon be sent to Parliament. This came while hosting Sami in the Finance Committee.

The minister stated that “employees’ salaries for the year 2024 are fully insured,” noting that “the release of employees’ salaries in the Kurdistan Region during the current month is subject to submitting lists of names, and we have stipulated nationalization to disburse them during the coming months.”

She continued, “We have begun launching financing for the operational budget,” adding, “Soon we will send the 2024 budget schedules to the Council of Ministers for approval and sending them to Parliament.”

For his part, Member of the Parliamentary Finance Committee, Mustafa Sanad, said, “The Parliamentary Finance Committee hosted Finance Minister Taif Sami to discuss a number of topics, including financing the operational budget for the year 2024.”

Sanad explained, “The Minister informed the members of the committee that there is no interruption in funding the budget regarding operations and salaries of employees.”

Sanad continued, “With regard to the salaries of employees in the Kurdistan Region, and after the Federal Court’s decision, this month’s salaries will be financed in the usual manner in place through direct transfers. As for March salaries, the salaries of the region’s employees will be financed through the localization of salaries.”

He concluded by saying, “Funding the salaries of employees in the region will be through the governorates, meaning that the governorate that submits its data directly before the other will localize the salaries of its employees faster.”

Yesterday, Sunday, the Finance Committee in the Iraqi Parliament revealed that it will host the Minister of Finance tomorrow, Monday, to discuss the localization of the salaries of Kurdistan Region employees and the delay in distributing salaries throughout the country.

This comes after the Iraqi Ministry of Finance confirmed that it has taken measures and procedures to secure salary funding on an ongoing basis according to the 2024-2025 budget, denying at the same time political statements that indicated the lack of “financial liquidity.”

It is noteworthy that the Federal Supreme Court (the highest judicial authority in Iraq) decided, on February 21, to oblige the Federal Prime Minister and the Prime Minister of the Kurdistan Regional Government to settle the salaries of employees and workers in the public sector in the region with federal banks.

The court also decided to oblige the submission of the monthly budget for the region’s employees to the Federal Ministry of Finance, while requiring the region’s Council of Ministers to hand over all oil and non-oil revenues to the federal government.

The ruling stressed that the decision to localize the salaries of the region’s employees is final and binding.

LINK

Diversifying Iraq's Economy And Combating Corruption Is A Path Towards Sustainable Economic Growth

Posted On 02-27-2024 By Sotaliraq Translated by / Hamed Ahmed A report by Frontier Post, the economic website, pointed out that the elements for the prosperity and growth of Iraq’s economy in a sustainable manner lie in several main factors, the most important of which is diversifying the sources of the economy, combating corruption, enhancing confidence in attracting investments, and strengthening the private sector, which helps the country reduce its dependence on oil towards a more prosperous economic future.

The report indicated that the Iraqi Parliament, in its drive towards achieving development in the country, voted last year on a record budget for a period of three years from 2023 to 2025, with a total value of approximately 198.9 trillion Iraqi dinars ($153 billion), which will provide funding for important infrastructure projects.

Long years of neglect and lack of investment have called for an urgent need to rebuild dilapidated infrastructure and repair and modernize necessary service facilities such as roads, bridges, schools and hospitals.

The report states that by giving priority to the development and development of infrastructure, the country is preparing a launching pad towards economic prosperity and providing room for the private sector that would provide job opportunities that contribute to the process of economic growth.

Another important aspect that the report pointed out is the government’s strict approach towards an anti-corruption campaign, as the corruption factor hinders development and weakens confidence in state institutions. It leads to the depletion of public funds, which hinders the financing of important service projects, and at the same time constitutes a frustration factor for investors, creating an unencouraging business environment for them.

Therefore, anti-corruption efforts are a fundamental pillar of good management, as strengthening accounting, accountability and transparency is a factor that attracts foreign investments that enhance the country's economic growth.

Another important factor in promoting sustainable economic growth in Iraq is to focus on the need to achieve economic diversification of the country's resources, and this was represented by ambitious initiatives to attract foreign investments and form international and regional economic partnerships. Among these initiatives is the Development Road Project, which would enhance the importance of the diversification of the Iraqi economy, and it represents a vital step in Iraq’s journey towards economic diversification and communication with the economy of the outside world.

This project has two benefits: reducing the country's dependence on oil revenues and enhancing, at the same time, Iraq's position as an important station for international and regional trade.

The fact that Iraq occupies an important geographical location linking the Gulf, Asia and Europe, thus provides an important corridor for transporting goods through this project between Europe and Asia, which constitutes an important factor towards a prosperous economic future.

By developing modern transportation infrastructure and logistical support networks, the country's ambition for this project includes the flow of commercial lines, reducing expenses, enhancing efficiency, and thus attracting investments that promote sustainable economic growth.

The report indicates that partnerships with global economic powers and investment companies indicate the country's direction towards strengthening international cooperation that is beneficial to both parties, and through this Iraq can transfer expertise, resources and advanced external technological technologies that contribute to enhancing its goals in economic development. ‘

The report states that as Iraq seeks to enter into joint infrastructure projects and investments and exchange technology, it will reap multiple benefits that go beyond abstract economic benefits. The country can obtain the latest technology and the best solutions, thus enhancing Iraq's capabilities towards achieving sustainable development and achieving external economic competition.

Other benefits of this economic cooperation are the transfer of knowledge, the enhancement of local skills, and the development of human resources, which in turn strengthens Iraq’s economy and builds more sustainable economic components that can withstand future challenges.

The report stressed that by giving priority to development, fighting corruption, and promoting foreign investment, Iraq is setting a road map for sustainable growth and a prosperous economy. The more the country seeks in its efforts to carry out economic reforms and renewal, this is considered a pillar of hope for a strong economy. ‘

The Iraqi government's officials, economists, and economic advisors have expressed their concern about the future of the country's economy, focusing on the need to achieve diversification in the sources of Iraq's economy in order to confront any future shocks related to the fluctuation of oil prices and the possibility of their decline, and to have sustainable sources of financing other than oil resources. LINK

The Volume Of Trade Exchange Between Iraq And Syria Exceeds One Billion Dollars

Economy 02-27-2024 | Al-Sumaria News – Economy The head of the Iraqi-Syrian Business Council, Hassan Sheikh Zaini, revealed that the volume of trade exchange between Iraq and Syria has exceeded the billion-dollar barrier, while pointing out the existence of a mechanism to adopt currencies other than the dollar in this exchange.

Sheikh Zaini said, “The joint committees between the two countries are looking for a mechanism for trade exchange away from the dollar, since Syria currently exchanges in the European currency (the euro),” according to the official Al-Sabah newspaper.

He stated that "the two countries may use the Russian ruble, the Japanese yen, the Chinese yuan, the Emirati dirham, or other currencies to sustain trade exchange between them," calling for "the establishment of banks for commercial exchanges to enable the possibility of abandoning the dollar and creating another platform in this regard."

Provoking Points To Ponder on Change and Transience:

All things must change to something new, to something strange. - Henry Wadsworth Longfellow

Every new adjustment is a crisis in self-esteem. - Eric Hoffer

I see gr-reat changes takin' place ivry day, but no change at all ivry fifty years. - Finley Peter Dunne

'Change' is scientific, 'progress' is ethical; change is indubitable, whereas progress is a matter of controversy. - Bertrand Russell

Turbulence is life force. It is opportunity. Let's love turbulence and use it for change. - Ramsay Clark

Would that life were like the shadow cast by a wall or a tree, but it is like the shadow of a bird in flight. - The Talmud

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Dinar Recaps 20 2/27/24 Dinar Recaps 20 2/27/24

MilitiaMan: Iraqi Dinar - IQD update - The World is Watching Iraq - IMF - WB - ITC - WTO - Tripartite Budget

Iraqi Dinar - IQD update - The World is Watching Iraq - IMF - WB - ITC - WTO - Tripartite Budget

MilitiaMan and Crew: 2-26-2024

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

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

Iraqi Dinar - IQD update - The World is Watching Iraq - IMF - WB - ITC - WTO - Tripartite Budget

MilitiaMan and Crew: 2-26-2024

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=sqXBIobiMbc

DINARRECAPS8 2/26/24 DINARRECAPS8 2/26/24

Iraqi News Highlights and Points to Ponder Monday Evening 2-26-24

Do Electronic Payments Reduce The Printing Of Paper Currencies In Iraq?

Economy News – Baghdad The Central Bank of Iraq expected, on Monday, that electronic payment operations will reduce the printing of paper currencies in the coming years.

The Director of the Operations and Settlements Department in the Information Technology and Payments Department, Zaid Hamid Rashid, said in a statement followed by Al-Iqtisad News Agency, that the bank provided the infrastructure for electronic payment operations, by spreading culture and awareness of this issue and implementing the decisions of the Council of Ministers, indicating that “ These decisions can be applied through settlement systems to activate the reciprocity through which these decisions are implemented.”

He added, "Every new work may face some obstacles, problems, and errors at the beginning, and we are working to find solutions to these obstacles," pointing out, "holding workshops and meetings in this regard, to review a number of numbers that proved the project's success and citizens' acceptance of it."

Iraqi News Highlights and Points to Ponder Monday Evening 2-26-24

Do Electronic Payments Reduce The Printing Of Paper Currencies In Iraq?

Economy News – Baghdad The Central Bank of Iraq expected, on Monday, that electronic payment operations will reduce the printing of paper currencies in the coming years.

Rashid continued, "Any problem or obstacle is a complete cycle, and every party has a role in it, such as the central bank and government banks that lacked the presence of their own systems, which was the main reason for the occurrence of these problems."

He explained that "electronic payment will reduce the process of printing paper currency, as well as the strategic benefits for the state in general and the citizen in particular."

115 views 02/26/2024 - https://economy-news.net/content.php?id=40865

142.4 Trillion Dinars, Total Iraqi State Spending During The Year 2023

Iraqi state spending Economy News – Baghdad The Iraqi state's spending during the year 2023 amounted to more than 142.4 trillion dinars.

The current budget amounted to 118.2 trillion dinars, while the investment budget amounted to 24.1 trillion dinars.

The Ministry of Finance ranked first in spending, amounting to 31 trillion dinars, followed by the Ministry of Interior with 13 trillion dinars, and oil with 12.9 trillion dinars.

Total employee salaries amounted to 47 trillion dinars last year, while revenues amounted to more than 135.6 trillion dinars.

Oil revenues accounted for 93%, reaching 125.8 trillion dinars.

Last year's financial budget ended with a real deficit of 6.6 trillion dinars.

Views 53 02/26/2024 -https://economy-news.net/content.php?id=40875

The Price Of Recharge Cards Has Increased Despite The Abolition Of The Tax

Economy | 02/26/2024 Mawazine News – Baghdad The government canceled the taxes imposed on recharge cards years ago, but their prices are still high.

Mustafa Al-Karawi, a member of the Finance Committee in the House of Representatives, told the “official newspaper” followed by Mawazine News: “In past years, a 10 percent tax was imposed on mobile phone recharge cards, which led to an increase in the prices of the cards after they were sold in the same denomination written in them.” On the card,” noting that “the Council of Ministers rejected the tax, which led to its official cancellation for the citizen.”

He pointed out that “it is assumed that there will be differences in the balance, fees or profits of the store that sells these cards, provided that they do not burden the citizen,” noting that “what we are seeing at the present time is the opposite, as large sums of money increase the value of the card sold.” "For the citizen."

He added that the head of the executive body of the Media and Communications Authority, Dr. Ali Al-Moayyed, expected that “the increase in mobile phone recharge cards will go back to shop owners,” explaining that “it was set at around 500 dinars as a profit on mobile phone recharge cards.”

He stated that "the price is not the same as it was before, with 1,250,000 dinars being added to recharge cards of 5,000 dinars, or 2,500 dinars being added to cards of 10,000 dinars."

Economist Mustafa Akram Hantoush pointed out that “the tax imposed on mobile phone recharge cards in 2015 and 2016 was added to the companies’ net profit, which led to it being converted into a cost,” stressing that it is “the first time it has been transformed into that, and as a result the citizen has borne it for 7 years.” ".

He pointed out that "the current government has abolished the tax, but there is no price control, as the 5,000 recharge card is sold with an increase of 500 dinars on it, since companies sell it at the value it is on," blaming "government agencies responsible for the failure of mobile phone companies to monitor their sales, which led to... Such results." https://www.mawazin.net/Details.aspx?jimare=242764

List of metropolitan areas

Baghdad Dollar...A Large Demand For The Currency On Monday Evening Hinders The Continued Decline

Baghdad – 964 The demand for large quantities of foreign currency, Monday evening, obstructed the decline that seemed to be continuing in the exchange rates of the US dollar, as they rose slightly at the beginning of the week and the return of the work of the main stock exchanges and the foreign currency window at the Central Bank, but the exchange rates remained Below 152 thousand dinars for a $100 note on the main stock exchanges on the Karkh and Rusafa sides of Baghdad, with slight differences in exchange offices from one region to another. https://964media.com/320213/

The Baghdad Dollar Rises Slightly In The Markets.. Money Exchangers Sell For 152 Thousand

Economy |Baghdad today – Baghdad Today, Monday (February 26, 2024), the exchange rates of the dollar against the dinar recorded a slight increase in the local markets in the capital, Baghdad.

The "Baghdad Today" correspondent said, "The selling price of the dollar in banking offices in the capital, Baghdad, reached today 152,000 dinars for every 100 dollars."

He added, "The purchase price reached 150,000 dinars for every 100 dollars." LINK

Provoking Points To Ponder on Change and Transience:

As one gets older, one discovers everything is going to be exactly the same with different hats on. - Noel Coward

All changes, even the most longed for, have their melancholy, for what we leave behind us is apart of ourselves; we must die to one life before we can enter into another. - Anatole France

When you get there, there isn't any there there. - Gertrude Stein

Change must be measured from a known base line. - Evan Shute

I can generally bear the separation, but I don't like the leave-taking. - Samuel Butler

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