How Much Should You Keep in Different Banks and Investment Accounts?

How Much Should You Keep in Different Banks and Investment Accounts?

Americans’ 4 Favorite Wealth ‘Hiding Places’

Karen Doyle   Sun, Mar 10, 2024, GoBankingRates

Once you’ve amassed some savings, you’ll want to decide where to keep it. Deciding how much to keep in what type of account is a good problem to have, certainly, but there are some things you should keep in mind. Here’s what to know about how much money you should keep in different places.

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Cash in the Bank

Most Americans have at least one bank account, typically a checking or savings account. Some people have different bank accounts for different purposes — a checking account for monthly bills, a savings account for long-term savings for big expenses and maybe even a money market account for medium-term purchases.

Bank accounts should make it easier for you to save and spend your money, so make sure the number and type of accounts works for the way you manage your money. Keep in mind, however, that there is a limit to the amount of money you should keep in any given bank.

Deposits in banks in the U.S. are insured by the Federal Deposit Insurance Corporation, or FDIC. The FDIC was created in 1933 in response to the bank runs of the Great Depression. Many banks went out of business during the Depression, and many consumers lost their entire life savings. The government formed the FDIC to protect consumers from losing everything if their bank failed.

Today, the FDIC insures deposits up to $250,000 per person, per account type, per bank. Account types include individual accounts, joint accounts, some retirement accounts, trust accounts, and more.

This means that if a married couple, for example, each has their own checking account, plus they have a joint savings account, they would be insured for up to $750,000. Each of their three accounts would be insured for $250,000. IRAs and some self-directed retirement plans fall under a different ownership category, so that same married couple could be insured for up to $250,000 for each of their retirement accounts as well.

IF you have more than $250,000 in cash in a given account type, it’s time to move some of that money to a different bank. You can have as much money in the bank as you want, but anything over $250,000 in a single account type at a single bank won’t be insured.

Deposits at Credit Unions are similarly insured by the National Credit Union Insurance Association, or NCUA.

To Read More Go to Original Article Here:

https://finance.yahoo.com/news/americans-4-favorite-wealth-hiding-120032065.html

Currency Insider Iraqi Dinar - Dong Updates Tuesday Evening 3-12-24

Currency Insider Iraqi Dinar - Dong Updates Tuesday Evening 3-12-24 

Iraqi Dinar Final Round Has Been Started – 3:07

Iraqi Dinar Going Stronger - 2:48

 Iraqi Dinar Final Round Has Been Started – 3:07

https://www.youtube.com/watch?v=Qb4zs_XE77Q

Iraqi Dinar Going Stronger – 2:48

https://www.youtube.com/watch?v=JAiXVzVqU3s

Economist's "News and Views" Tuesday 3-12-2024

Andy Schectman: Banks Increase Gold, Silver Shorts Over Recent Rally

Arcadia Economics:  3-12-2024

While gold and silver prices have rallied over the past week and a half, and have left some investors wondering if we're in the beginning of a break-out, the latest COT report shows that the banks were once again shorting the metals as the price rose.

Which would typically suggest that a correction might be in our future. We've seen a little bit of that today following this morning's slightly higher than expected CPI report.

And Andy Schectman of Miles Franklin checks in to share what he's seeing, and whether the rally is likely to continue.

https://www.youtube.com/watch?v=YX9pyYkGOZE

THE DOLLAR/CURRENCIES ARE BEING DESTROYED FASTER! AND THE WORLD ECONOMY.

Greg Mannarino:  3-12-2024

https://www.youtube.com/watch?v=nuI9N16bgKo

Bitcoin is Compromised and Lost Its Way; Gold and Silver are the Only Sound Money – Ted Butler

Daniela Cambone:  3-12-2024

Join Daniela Cambone at PDAC for a riveting discussion with Ted Butler of The Morgan Report. Butler contends that Blackrock's Bitcoin ETFs compromise the essence of Bitcoin, citing its fixed supply versus the derivative nature of ETFs.

He emphasizes the enduring value of gold and silver as sound money, contrasting them with Bitcoin's speculative nature.

 Butler also warns of China's economic woes and their potential impact on the U.S. economy. Tune in for insightful analysis and valuable perspectives on finance and global economics.

CHAPTERS:

 00:00 Ted’s background

2:10 What drew Ted to gold/silver?

 3:14 Bitcoin is compromised

4:09 Bitcoin investment

 4:31 Gold/silver

5:32 BRICS/China

 6:42 PDAC takeaway

7:22 CBDCs

https://www.youtube.com/watch?v=Jw7LAxO_dYI

Tuesday Evening Chat With MarkZ 3-12-2024

Tuesday Evening News with MarkZ

Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member:  Good Evening…….Well its now officially Ramadan for the next month. Really hope that will not stop the RV.

Member: Did your bond contact have that 4:00 meeting today?

MZ: That 4 pm meeting got moved to tomorrow morning around 10AM. Est. I hope to have an update by tomorrows stream .

Member: For Canadians: Royal Bank of Canada has recently taken over HSBC private wealth clients, & has been Basel lll compliant since April 2023.

Member:  Did anyone hear the rumor that on March 14th the ATM’s will have the new money?

Member:  I asked the teller at Chase if the ATM’s will have the New Money? She had a smile on her face and told me I cannot confirm nor deny!!!

Member: If we RV before banks go down. Don’t we lose access to our new money too???

MZ: If we RV before banks go down…as we understand it will all then be asset backed and we will have nothing to worry about.

Member: Mark I am starting to think this is all bullcrap …please talk me off the cliff

MZ:Were you paying attention yesterday morning?   Did you see the article yesterday where they are “OPENLY” talking about changing the rate …and we know they have formed a committee to educate folks on the repricing because of changing rates. We know its going to happen…it’s the “when” that is still the monkey on our backs….

Member: so, has the dinar RV’d at .76 Cents???

Member: the dinar hasn’t RV’d. Until it’s on the Forex (not Forex Live) then we won’t know the actual rate. The .76 is only the delete the zero rate and the REER (Real Effective Exchange Rate) hasn’t been added

Member: was thinking. 76 rate could that be just in country letting that float

Member: If Iraq were to delete the zeros and go from 1,320 to 1.32 per usd how long do you think that would last? Seems low ?

Member: Melody Hines was saying this afternoon that Iraq’s working through Ramadan there has been some debt forgiveness in the country

Member: Just tried to pull up USD/IQD on Forex Live and it is now not showing anything. Not sure what’s going on there.

Member:  Went to my local bank yesterday and asked to buy some Dinar's and she smiled and said we can't sell them at this time !!!! Things are crazy !!!

MZ: In world news: “Vanke-The Developer that will break China’s back”  This is one of the most respected in China and may be forced to sell for liquidity. This may be the last straw in breaking China’s real estate bubble. If it cascades and brings down their entire economy. And that would cause a domino effect in Europe because they are heavily invested in Asian banks. And that will lead to failures in the US because we are invested in Europe. Follow the dominos as they fall from east to west.

MZ: This is a big one to watch. The time for a reset is nigh. They don’t have a choice.

Member:  Thanks all….have a nice evening….See you in the AM

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary,medical opinions or many guests on this stream……just RV/currency related topics.

​TO GET THE “REAL MARKZ ACCOUNTS”, TWITTER, YT, RUMBLE, TELEGRAM ROOMS, AND FOR MARK’S DAILY LINKS TO HIS WEBSITE: https://theoriginalmarkz.com

STAY IN THE KNOW: FOR UPDATES ON PODCASTS (CHANGES & GUESTS). YOU WILL FIND PLENTY OF USEFUL INFO THAT KOUKLA UPDATES OFTEN FOR MARK AT THE TELEGRAM INTEL CHANNEL: https://t.me/+K_GNVfTI0gFkZWYx

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

https://www.youtube.com/watch?v=CfxMBonFd2A

KTFA Members Thoughts on " official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars"

KTFA:

Frank26:  "PARLIAMENT & MALIKI STATE THE OBVIOUS!!! BUT... WE TOLD YOU THERE WAS A REASON FOR 1310!!!"..............F26

Coordination Framework seeks early election to curb al-Sudani's growing popularity: analysis

3/11/2024

Prime Minister Mohammed Shia al-Sudani is strikingly popular among the Iraqi people, but the parties who once supported him are organizing to take him down, a report by Medialine suggested.

"Iraq's ruling coalition plans to call for early elections in an attempt to overthrow Prime Minister Mohammed Shia al-Sudani," it said.

Al-Sudani belongs to the Coordination Framework, an alliance of Shiite parties loyal to Iran. But after assuming the premiership, "al-Sudani changed his approach toward the parties and came to disagree with many of their political positions."

A leader in the Islamic Dawa Party, which al-Sudani led until stepping down in 2019, told The Media Line that Coordination Framework parties have been meeting for about five months and plan to call for elections in 2024 or early 2025.

"The plan is to attack the prime minister, belittle his achievements, bring him down popularly, and create more political and economic problems, after which the Iraqi street will go out in demonstrations demanding the overthrow of the government, and then call for early elections, and not nominate al-Sudani again, or grant him any position," the source, who asked to remain anonymous, said.

The source noted that two previous Iraqi prime ministers had lost their positions after the Iraqi public turned against them. "The party fears that Al Sudani may announce the formation of a new political party or alliance, run in the upcoming elections, and become the ruling political majority in Iraq."

The dispute between the Coordination Framework and al-Sudani relates to the prime minister's approval of US Federal Reserve policies to prevent currency smuggling, according to the report. "These measures reduced the circulation of US dollars in Iraq and increased the price of the dollar."

Al-Sudani also implemented several policies that have boosted his popularity. "He increased government salaries and wages for retirees, launched major development projects in the capital and several Iraqi governorates, and announced plans to improve infrastructure and expand the nation’s road network."

According to official statistics, he also significantly reduced unemployment and passed a social security law for workers in the private sector and announced a plan to build 1,000 schools and more than a million residential units.

Since mid-2023, at least 10 countries, including some in the Gulf Cooperation Council, have announced new investments in Iraq. The exchange rate of the dollar in the parallel market has also stabilized since November 2023.

A September 2023 opinion poll by the Government Advisory Board found that al-Sudani enjoys a 78% approval rate. Another poll by the nongovernmental Iraq Statistics Organization found him to have an approval rate of 51%, the highest of any Iraqi official.

The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase al-Sudani's popularity.

Abbas al-Musawi, adviser to the former Prime Minister Nouri al-Maliki, said in statements to Iraqi media that al-Sudani's achievements are "for everyone", while also saying that al-Sudani will not be reelected as prime minister.

"We are not afraid of al-Sudani. We have our audience, and it is a stable audience," al-Musawi said.

Jaafar al-Khudairi, a member of the National Wisdom Movement, one of the Shiite parties within the ruling Coordination Framework, told The Media Line, "The Dawa Party is trying to state that only its cadres are capable of running the state, but this is not true."

He said that the parliament is discussing a new law regarding elections and that new elections might be called after that law's passage.

Karar Sahib, director of the Iraqi Media Observatory, told The Media Line that al-Sudani has faced constant criticism on Iraqi television.

"There are channels affiliated with the Shiite religious parties, which were the most offensive, as they only showed the negative aspects of the decisions, and tried to exaggerate them," he said.

He said that consistencies across different channels suggest that there may be a single writer behind the criticism.

Sahib defended al-Sudani's achievements. "Iraq is now making an unprecedented renaissance," he said. "It is true that the situation is still below ambition, but it is much better than before."

Muhammad al-Bouflah, a former professor of political science at the University of Baghdad, told The Media Line that the current political climate is a result of the premier's attempt to fracture the coalition. He also said that the Coordination Framework will succeed in holding early elections only if Shiite cleric Muqtada al-Sadr comes out in favor of the plan.

"I do not think that Muqtada al-Sadr will return to trusting the Coordination Framework after they removed him from the political process, and therefore the prime minister will continue to complete his term as president," he said.

Former Member of Parliament Shaiban al-Kilani told The Media Line that the disputes have to do with the different parties' attempts to vie for power.

"The disputes are only over shares of the cake," he said, "and are not disputes over the popularity of the current prime minister."  LINK

Iraq’s ruling coalition may call for early elections

A poll by the nongovernmental Iraq Statistics Organization found Prime Minister Mohammed Shia’ Al Sudani to have an approval rate of 51%, the highest of any Iraqi official. 

US Secretary of State Antony Blinken meets with Iraqi Prime Minister Mohammed Al Sudani in Munich, Germany, on February 18 2023. (photo credit: PUBLIC DOMAIN)

By HUDHAIFA EBRAHIM/THE MEDIA LINE

MARCH 10, 2024 14:20

 Iraq’s ruling coalition plans to call for early elections in an attempt to overthrow Prime Minister Mohammed Shia’ Al Sudani.

Al Sudani belongs to the Coordination Framework, an alliance of Shiite parties loyal to Iran. But after assuming the premiership, Al Sudani changed his approach toward the parties and came to disagree with many of their political positions. 

A leader in the Islamic Dawa Party, which Al Sudani led until stepping down in 2019, told The Media Line that Coordination Framework parties have been meeting for about five months and plan to call for elections in 2024 or early 2025. 

“The plan is to attack the prime minister, belittle his achievements, bring him down popularly, and create more political and economic problems, after which the Iraqi street will go out in demonstrations demanding the overthrow of the government, and then call for early elections, and not nominate Al Sudani again, or grant him any position,” the source, who asked to remain anonymous, said. 

The source noted that two previous Iraqi prime ministers had lost their positions after the Iraqi public turned against them. 

Party fears creation of new political party

“The party fears that Al Sudani may announce the formation of a new political party or alliance, run in the upcoming elections, and become the ruling political majority in Iraq,” the source added.

The dispute between the Coordination Framework and Al Sudani relates to the prime minister’s approval of US Federal Reserve policies to prevent currency smuggling. These measures reduced the circulation of US dollars in Iraq and increased the price of the dollar. 

Al Sudani also implemented several policies that have boosted his popularity. He increased government salaries and wages for retirees, launched major development projects in the capital and several Iraqi governorates, and announced plans to improve infrastructure and expand the nation’s road network.

According to official statistics, Al Sudani also significantly reduced unemployment. In addition, he passed a social security law for workers in the private sector and announced a plan to build 1,000 schools and more than a million residential units.

Since mid-2023, at least 10 countries, including some in the Gulf Cooperation Council, have announced new investments in Iraq. The exchange rate of the dollar in the parallel market has also stabilized since November 2023.

A September 2023 opinion poll by the Government Advisory Board found that Al Sudani enjoys a 78% approval rate. Another poll by the nongovernmental Iraq Statistics Organization found him to have an approval rate of 51%, the highest of any Iraqi official. 

Al Sudani has spurned many political allies and opponents. He did not support former Speaker of Parliament Mohamed al-Halbousi and worked for his removal. He also removed most of the leaders of the Popular Mobilization Forces—a group of Iranian-backed militias—from government positions.

The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity. 

Abbas al-Musawi, adviser to the former Prime Minister Nouri al-Maliki, said in statements to Iraqi media that Al Sudani’s achievements are achievements “for everyone,” while also saying that Al Sudani will not be reelected as prime minister.

“We are not afraid of Al Sudani. We have our audience, and it is a stable audience,” al-Musawi said. 

Al Sudani has faced heavy criticism on Iraqi television

Jaafar Al-Khudairi, a member of the National Wisdom Movement, one of the Shiite parties within the ruling Coordination Framework, told The Media Line, “The Dawa Party is trying to state that only its cadres are capable of running the state, but this is not true.”

He said that the parliament is discussing a new law regarding elections and that new elections might be called after that law’s passage. 

Karar Sahib, director of the Iraqi Media Observatory, told The Media Line that Al Sudani has faced constant criticism on Iraqi television. 

“There are channels affiliated with the Shiite religious parties, which were the most offensive, as they only showed the negative aspects of the decisions, and tried to exaggerate them,” he said. 

He said that consistencies across different channels suggest that there may be a single writer behind the criticism. 

Sahib defended Al Sudani’s achievements. “Iraq is now making an unprecedented renaissance,” he said. “It is true that the situation is still below ambition, but it is much better than before.”

Muhammad Al-Bouflah, a former professor of political science at the University of Baghdad, told The Media Line that the current political climate is a result of Al Sudani’s attempt to fracture the coalition.

He also said that the Coordination Framework will succeed in holding early elections only if Shiite cleric Muqtada al-Sadr comes out in favor of the plan. 

“I do not think that Muqtada al-Sadr will return to trusting the Coordination Framework after they removed him from the political process, and therefore the prime minister will continue to complete his term as president,” he said. 

Former Member of Parliament Shaiban Al-Kilani told The Media Line that the disputes have to do with the different parties’ attempts to vie for power. 

“The disputes are only over shares of the cake,” he said, “and are not disputes over the popularity of the current prime minister.”    LINK

DCDriver:  I would just like to clarify something. If the Dinar came out at an exchange rate of 1.32, you would exchange that for .76 USD. That’s where people are getting the .76 cents from. 1.32 is not better than 1.00. There is always a mistake with that calculation IMO

RealtorMC:  From the article: "the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320"

Something always happens in the translation, but from how this is written, it sure looks like they're saying 1 IQD will be 1.32 USD

We'll see what they come out when they finally release it. Either way, we win and Jesus always wins!!!

More News, Rumors and Opinions Tuesday Afternoon 3-12-2024

KTFA:

Al-Sistani: The beginning of the month of Ramadan is today, Tuesday

3/11/2024

Al-Sistani: The beginning of the month of Ramadan is today, Tuesday

Najaf - Saadoun Al-Jabri 

The office of the religious authority, Ali al-Sistani, announced that today, Tuesday, is the beginning of the month of Ramadan for the Hijri year 1445. His office indicated in a brief statement that (it has been proven that the sighting of the crescent of the month of Ramadan is established, and that today, Tuesday, is the day of the holy month). 

The Sunni Endowment Office had announced at a time that yesterday, Monday, was the first day of the month of Ramadan. Meanwhile, the Sultanate of Oman, Jordan, Morocco, Libya, Iran, Brunei, Indonesia, Malaysia and Singapore confirmed that yesterday, Monday, is the completion of the month of Shaban, making the first day of fasting today, Tuesday, due to the inability to see the crescent moon last Sunday evening. 

The countries of Saudi Arabia, Syria, Qatar, the Emirates and Turkey announced the start of fasting yesterday, Monday.     LINK

Ariel (@Prolotario1): Powell Confirms “Nowhere Near Launching CBDC”

3-12-2024

No CBDC: I Told You All Of This Last Year “Fed Chair Jerome Powell has confirmed to the Senate Banking Committee that the Federal Reserve currently has no plans to launch a central bank digital currency (CBDC), alleviating concerns over privacy and government surveillance.” 

 “During the hearing on Thursday, Powell emphasized that the Fed’s focus remains on maintaining the current banking system structure, where only banks hold accounts with the Fed.” End quote.

Ariel: Now do you all see how far ahead you are on this account? How many times have I repeatedly informed you all on why this would never happen? Remember, you all were supposed to be in lockdowns/Quarantine for atleast 13-15 years. You would have been forced to use CBDC under the vaccine mandates. 

Guess what? The mandates are lifted and you are still using paper currency.

https://dinarchronicles.com/2024/03/12/ariel-prolotario1-powell-confirms-nowhere-near-launching-cbdc/

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  This is fascinating because this is coming from the Iraqi government today in the same context of Al-Sudani.  Article quote:   "The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320.  Implementing such a decision is likely to significantly increase Al-Sudani's popularity."  You think!?  Bring the purchasing power of $0.76 - that's what it equates to...deleting the zeros just like we've been talking about.

Frank26  Article:  "Coordination Framework seeks early election to curb al-Sudani's growing popularity: analysis"  Quote:  "The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars."  Now do you understand why they left it at 1320 even though we suggested that they would take it to 1200 or 1000?  

BRICS Expansion: Another African Country to join the bloc!

Fastepo:  3-11-2024

BRICS to expand further by joining another country from global south. As stated by Foreign Minister Yusuf Tuggar, Nigeria is considering joining BRICS.

After the expansion in 2024 to include Iran, UAE, Saudi Arabia, Ethiopia, and Egypt, the BRICS bloc has seen significant growth in its economic and demographic footprint globally. The combined GDP of the expanded BRICS now represents about 36% of the global GDP, indicating a substantial increase in the bloc's economic power.

This enlargement has not only bolstered BRICS' share of global GDP but also expanded its influence in terms of population, with the bloc now encompassing around 47% of the world's population.Incorporating Nigeria into BRICS would significantly amplify the bloc's demographic and strategic advantage.

With Nigeria's population of 230 million, it stands as Africa's most populous nation. This addition would propel BRICS' representation to encompass over half of the global population, marking a substantial increase in its collective influence. Moreover, the inclusion of these new members has positioned BRICS as a formidable entity in the global oil market, controlling about 43.1% of global oil production.

This strategic dominance in oil production is largely attributed to the addition of leading oil exporters like Saudi Arabia. The expansion also enhances BRICS' role in global trade, with its share of global exports rising to 25.1%, showcasing the bloc's growing significance in international commerce.

https://www.youtube.com/watch?v=Swx8LKORe9A

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-12-24

Iraq Economic News and Points to Ponder Tuesday Afternoon 3-12-24

Tlm724 Administrator Bondlady’s Corner

Al-Sudani Intends To Visit Washington To Lift The Ban On Banks Prohibited From Dealing In Dollars

Economy | 03/12/2024   Mawazine News – Baghdad   The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars.

Al-Haims said in a televised interview followed by Mawazine News, “Dialogues with the American side in order to lift restrictions on Iraqi expenses began a month ago on a regular and intensive basis.”

He added, "The dialogues with the American side regarding lifting restrictions on Iraqi banks will reach their peak when Prime Minister Muhammad Shiaa Al-Sudani visits Washington to revive confidence in the Iraqi banking sector."   https://www.mawazin.net/Details.aspx?jimare=243761

In 2023.. America “Produces The Most Oil In The World” For Years, And Iraq Ranks Fifth

Energy   Economy News _ Baghdad   The United States of America continues to lead the world as the largest oil producer for at least the past 10 years, as it ranked first in 2023, as in previous years, while Russia came second, Saudi Arabia third, Canada fourth, and Iraq fifth.

The US Energy Information Administration said that the United States produced more crude oil than any other country at any time, and for the past six consecutive years, the average production of crude oil in the United States, including condensates, reached 12.9 million barrels per day in 2023, breaking The previous US and world record of 12.3 million barrels per day was set in 2019.

The administration indicated that the record for crude oil production in the United States in 2023 is unlikely to be broken by any other country in the near term because no other country has reached the production capacity of 13.0 million barrels per day.

The United States, Russia, and Saudi Arabia together accounted for 40% (32.8 million barrels per day) of global oil production in 2023, and these three countries have produced more oil than any other country since 1971.

Although the first place has changed among them over the past five decades. By comparison, the next three largest producers - Canada, Iraq and China - combined produced 13.1 million barrels per day in 2023, only slightly more than was produced in the United States alone.

According to the administration's statistics, Iraq ranked fifth in the world in terms of oil production, after America, Russia, Saudi Arabia, and Canada. - https://economy-news.net/content.php?id=41389

Oil Rises Ahead Of Reports On Crude Demand Expectations

Tuesday 12, March 2024 09:11 | Economical Number of readings: 311   Baghdad / NINA / Oil prices recorded an increase in early Asian trading, Tuesday, but price movements were limited as the market awaited monthly reports from oil agencies.

Brent crude futures for May delivery rose 30 cents to $82.51 a barrel by 0413 GMT. The US crude oil contract for April rose 22 cents, or 0.28%, to $78.15 per barrel.

Prices were mostly unchanged on Monday as concerns about oil supplies related to the fighting in the Middle East subsided./End 11   https://ninanews.com/Website/News/Details?key=1112527

Al-Rafidain Connects Border Crossing Branches To The Comprehensive Banking System

Economy | 08:25 - 03/12/2024  Mawazine News – Baghdad   Rafidain Bank announced today, Tuesday, linking its branches at border crossings to the comprehensive banking system.

The bank’s media office stated in a statement received by Mawazine News: “In line with the requirements for implementing the government program and in compliance with the directives of the Minister of Finance, Taif Sami, to simplify the procedures and steps for moving from paper to electronic transactions, and with direct follow-up by the Director General of Al-Rafidain Bank, the bank announces the linking of its branches in... The border crossings (Zurbatia - Safwan - Arar - Trebil) in the comprehensive banking system.

He continued, "The importance of this step comes within a series of measures that the bank will take to support the objectives of the government program and the procedures of the Ministry of Finance and the Customs Authority in automating customs work, facilitating the work of customs brokers and traders, adopting modern methods and systems, speed and transparency, and using advanced electronic programs in accordance with international standards in updating the work strategy at the ports." border and maximizing the state's non-oil resources.   https://www.mawazin.net/Details.aspx?jimare=243690

Central Bank Sales Exceed $220 Million Today

Tuesday 12, March 2024 12:04 | Economical Number of readings: 344  Baghdad / NINA / The Central Bank of Iraq announced, today, Tuesday, its total sales of foreign currency through the electronic window.

The window recorded the total amounts of transfers abroad (remittances, credits) of $196,144,445, while the total amount of cash sales amounted to $24,770,000, and the total amount of sales amounted to $220,914,445. 

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

https://ninanews.com/Website/News/Details?key=1112559

Stability Of Exchange Rates On Local Stock Exchanges...This List

Money  and business  Economy News – Baghdad  The dollar exchange rates stabilized on Iraqi stock exchanges during Tuesday’s trading.

The exchange rates on the Al-Kifah and Al-Harithiya stock exchanges reached 150,400 dinars for every 100 dollars, while in Basra they fell slightly to reach 150,350 dinars.

In the governorates of the Kurdistan region, exchange rates reached 150.450 per hundred dollars.

110 views 03/12/2024 - 10:57 AM  https://economy-news.net/content.php?id=41394

"Al-Eqtisad News" Publishes The Decisions Of Today's Cabinet Session

The Council Of Ministers Headed By Sudanese  Economy News – Baghdad  On Tuesday, the Council of Ministers took several decisions during a regular session headed by Muhammad Shiaa Al-Sudani.

The Sudanese media office said in a statement, seen by Al-Iqtisad News, that the latter “chaired, today, the eleventh regular session of the Council of Ministers, during which the general conditions in the country were discussed, and the service and economic files were reviewed, in addition to deliberating on the topics listed on the agenda.” business and take the necessary decisions thereon.”

The following are the session’s decisions as stated in the statement:

The Council of Ministers agreed to continue granting the Prime Minister the authority to grant exceptions to the instructions for implementing government contracts (2 of 2014), and the controls attached to them, according to his discretionary authority, and the decision will be implemented starting from the date of the formation of this government.

In continuation of the infrastructure projects and the results of the Prime Minister’s recent visit to Basra Governorate, the following was decided:

1- Authorizing the Governor of Basra to negotiate and sign the framework agreement with the coalition of companies implementing the seawater desalination project in the governorate; So that the consortium of companies can complete plans and designs and conduct preliminary surveys for the project, provided that this does not entail financial obligations for the governorate.

2- Presenting the results of the negotiations to the Council of Ministers to take the appropriate decision.

3- Transferring the contractual obligations for the consultancy work for the project mentioned in Paragraph 1 above, with the consultant (ILF- Consultant), from the Ministry of Construction and Housing, to Basra Governorate; So that the consulting company can complete its contractual duties regarding the project, and authorize the Governor of Basra to add the legal consulting component if required, in coordination between it and the Ministry of Planning.

As part of the government's efforts to develop the service reality of the capital, the Council of Ministers approved granting the mayor of Baghdad the authority to directly implement and divide up single work for projects to develop shops and streets, as an exception to the budget implementation instructions.

With the aim of organizing the supply of gas oil and fuel oil products to the Lebanese Republic, the Council of Ministers approved the proposals of the Ministry of Oil in this regard, as follows:

1. The Ministry of Oil shall provide the Ministry of Finance and the Central Bank of Iraq with monthly estimates of the exported quantities, in accordance with the decisions of the Council of Ministers, as revenue for the benefit of the public treasury, to settle financial dues with the Lebanese Republic.

2. Deducting production costs for the benefit of the companies of the Ministry of Oil, for the quantities in question, from the Ministry of Finance’s share of the proceeds from the sale of exported petroleum products, and informing the aforementioned Ministry of this; To carry out the settlement, by describing these costs as debts owed by the Ministry of Finance for the benefit of the oil companies, and by conducting clearing in accordance with the provisions of the Civil Law (40 of 1951) amended from the share of the state treasury.

In the field of supporting and strengthening the Iraqi market for livestock and sheep, the recommendation of the Ministerial Council for the Economy (24082 Q) was approved, which included reducing the amount of customs duties on live animals imported for slaughter or breeding purposes (calves, sheep, and cows) by (50%) of the current duties, to become ( 2%) with regard to (calves, sheep and cows) imported for slaughter purposes, and it becomes (5%) with regard to (calves, sheep and cows) imported for breeding purposes, provided that it is reviewed after one year, and this decision is implemented starting from the date of its issuance.

The Council of Ministers agreed to provide academic seats in the Police College for friendly countries, based on the principle of mutual respect and common interests, at a rate of (10) students, based on the amended Police College Law No. (37) of 2000, and the Ministry of Interior shall bear the costs of housing, food, and equipment.

In the same vein, the Council agreed to issue the first amendment to the Staff College System No. (2) of 2020, which was reviewed by the State Council, based on the provisions of the Constitution, and the provisions of the Defense University for Military Studies Law No. (4) of 2016, with the article first amended, to be: (Holding a bachelor’s degree from one of the Iraqi military colleges, or the Iraqi police college, after preparatory study, or its equivalent in recognized foreign colleges).

In order to expedite the treatment of problems related to the education sector, the Council of Ministers agreed to authorize the Opinion Authority, in the Ministry of Higher Education and Scientific Research, the authority to make exceptions from instructions related to the work of the aforementioned ministry. To address necessary and critical cases that require urgent treatment, based on the provisions of the Opinion Commission Law (9 of 2011).

In the process of supporting the House of Representatives elections for the Kurdistan Region of Iraq, the Council of Ministers agreed that the Independent High Electoral Commission would continue to disburse the region’s elections process, within the estimates of 2024, according to the details confirmed in Council of Ministers Resolution (23722) for the year 2023.

The Council of Ministers approved the draft law on the first amendment to the Notary Law No. 33 of 1998, which was reviewed by the Council of State and referred to the House of Representatives, based on the provisions of the Constitution, taking into account the observations of the Legal Department in the General Secretariat of the Council of Ministers, including the amendment of Article ( 16) of the law, to read as follows:

(First): The Arabic and Kurdish languages ​​shall be official languages ​​for submitting and documenting bonds

(Second): The notary public may authenticate documents written in a foreign language, after reviewing their content by an oath-sworn translator.

In the context of completing the lagging projects, the Council of Ministers decided the following:

Firstly/

1- Increasing the cost of the project (Increasing Export Capacity), to become (5,532,106,037,842) dinars.

2- Cabinet directive regarding the violation described in the Ministry of Planning’s letter dated February 28, 2024.

Second: Increasing the total cost of the project (completion of suspended canals and field facilities for an area of ​​21.5 thousand dunums/supporting the agricultural sector, so that the contract can be completed, to become 27,070,428.00 dinars.

Third: Increasing the total cost of the project (students’ apartments No. 3), to become (10,990,603,852) dinars.

The Council of Ministers discussed other topics on the agenda and took the following decisions:

First / Approval of the sale by the Ministry of Industry and Minerals (130) of machinery and equipment to the Ministry of Construction, Housing, Municipalities and Public Works, at an amount of 50% of the total cost, stated in the letter of the General Company for the Automotive and Equipment Manufacturing Company, dated February 19, 2024, amounting to (17,872,097,588) dinars. The team will receive the machinery and equipment ready to work, according to the request it submitted to the aforementioned company, regarding determining the specialization of each mechanism, and as an exception to the instructions for implementing government contracts (2 of 2014).

Second: Approval to reopen the Embassy of the Democratic Socialist Republic of Sri Lanka in the Republic of Iraq, based on the provisions of the Vienna Convention on Diplomatic Relations in 1961, and the provisions of the Foreign Service Law (45 of 2008), noting that Iraq has resident representation at the embassy level in the Sri Lankan capital in Colombo.

Third: Approval of the recommendation of the Ministerial Council for the Economy (24080 Q), which recommends what was confirmed by the Ministry of Finance, on January 16, 2024, and March 5, 2024, regarding contributing to the optional and general increase in the International Bank for Reconstruction and Development.

Fourth: Approving the recommendation of the Ministerial Council for Energy (24016 i) of 2024, regarding the agreement to employ associated gas to generate electric power, with the addition of authorizing the Minister of Electricity to sign a similar agreement with Siemens.

Fifth: Authorizing the head of the Iraqi Civil Aviation Authority to contract with international experts.

Sixth: Amending Cabinet Resolution (23062 of 2023), according to the following:

Merging Al-Farouk General Construction Contracting Company with Saad General Company, so that its name becomes: (Al-Farouk General Contracting Company).

Views 26 03/12/2024 https://economy-news.net/content.php?id=41421

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

Provoking Points to Ponder on Decisions 

There is no more miserable human being than one in whom nothing is habitual but indecision.  - William James

In not making the decision, you've made one. Not doing something is the same as doing it. - Ivan Bloch

There is a time when we must firmly choose the course we will follow, or the relentless drift of events will make the decision for us.  - Herbert B. Prochnow

You can only predict things after they've happened.  - Eugene Ionesco

It is the mark of a good action that it appears inevitable, in retrospect.  - Robert Louis Stevenson

http://famousquotesandauthors.com/quotes_by_topic.html                                   

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

Iraqi Dinar Today Video Updates Tuesday AM 3-12-24

Iraqi Dinar Today Video Updates Tuesday AM 3-12-24

Congratulations JP Morgan Chase Bank Confirmed IQD RV And Exchange – 2:45

Wow Iraqi Dinar Hitting New Exchange Rates – 3:06

Massive Revelation: Dinar Value rise to $4.00 – 1:42

Congratulations JP Morgan Chase Bank Confirmed IQD RV And Exchange – 2:45

https://www.youtube.com/watch?v=09-JB7DDHo0

Wow Iraqi Dinar Hitting New Exchange Rates – 3:06

https://www.youtube.com/watch?v=WkoggD-AkDA

Massive Revelation: Dinar Value rise to $4.00 – 1:42

https://www.youtube.com/watch?v=o5Q9OH1NrmU

Thoughts From DJ: DID YOU KNOW? Confusion

DJ:  DID YOU KNOW?   Confusion

It’s funny. All you have to do is say something nobody understands and they’ll do and believe practically anything you want them too.

 How easy it is for so many of us today to be so full of information yet fully deprived of accurate information. In this age of technology there is constant access to vast amounts of information. But it seems like it’s just a collection of weird quizzes with no answers to half the questions.

We are wrapped up in a cycle of illusions, delusions and confusions. It is the confusion of how to think, feel, digest and react to what goes on. People get overwhelmed and want to accept an answer just because it’s too scary not to have an answer. Which, it turns out, is a good way to get the wrong answer.

We often confuse what we wish for, for what actually is. We are caught in this game and have no idea what the rules are.

People so easily accept answers just to know they’re not alone in their confusion. As time moves on the lines begin to blur. It no longer seems as simple as good versus evil, but good versus fools who think they are good.

I want to believe, as I think most people do, that I am optimistic. But one can’t get carried away with optimism. The unyielding optimist will pretend that the forest is not burning either because they are too lazy, or too afraid, to go put the fire out.

 We have to balance our optimistic view of what can happen with reality. The most confused you will ever get is when you try to convince your heart and spirit of something your mind knows is a lie. Meaning, accepting any answer because we are scared of not having an answer and disregarding the facts of reality.

If you had not summarized what this article is referring to, it’s the GCR and all of the other financial movements. The RV, Prosperity Programs, Historical Bond Redemption’s, the QFS, the Global Collateral accounts and if you really want to expand it, politics, governments, social upheaval and just about any other subject you may try and inquire about.

The more you look for answers the more confusing it gets. The more questions you have that are answered the more you realize what you don’t know. It gets to the point you don’t even know what question to ask. You would think the more knowledge you acquire for what you want to know, the closer to your answers you’re looking for you would get. But that’s not what happens.

Stay grounded, manage expectations, and look at what is happening, not what may happen. Try and use what is real to make life decisions and not get caught up in the vast information pool of confusion and speculation that create false expectations.

DJ  

https://www.rumormillnews.com/cgi-bin/forum.cgi?read=237557

"Tidbits From TNT" Tuesday 3-12-2024

TNT:

CandyKisses:  Al-Rafidain announces linking its branches at border crossings to the comprehensive banking system

Information/BaghdadRafidain Bank announced on Tuesday that its branches at border crossings are linked to the comprehensive banking system.

"In line with the requirements of implementing the government program and in compliance with the directives of Finance Minister Taif Sami in simplifying procedures and steps to move from paper to electronic transactions, and with direct follow-up by the Director General of Rafidain Bank, the banks announce linking its branches at the border crossings (Zarbatiya - Safwan - Arar - Trebil) to the comprehensive banking system, " said a statement by the bank's media office received by Al-Maalouma.

He added that "the importance of this step comes within a series of measures that the bank will take to support the objectives of the government program and the procedures of the Ministry of Finance and the Customs Authority in automating customs work, facilitating the work of customs brokers and traders, adopting modern methods and systems, speed and transparency, and using advanced electronic programs in accordance with international standards in updating the work strategy at border crossings and maximizing the state's non-oil resources."

Tishwash:  Will American forces leave Iraq through negotiation?

 The head of the organizing body of the Belt and Road Popular Movement, Hussein Al-Karaawi, on Tuesday ruled out the exit of the American occupation from Iraq through the ongoing negotiations between Baghdad and Washington, to end the military presence of the forces of the so-called international coalition.

Al-Karaawi told Al-Maalouma, “Historical facts with the American side confirm that its military forces will not leave Iraq through peaceful and diplomatic means, as their exit from the country in 2011 was preceded by successive strikes and major jihadist work by the Islamic resistance factions to ensure their expulsion from the country.”

He added, "America seeks through many ways to remain militarily inside Iraq, despite the presence of ongoing negotiations between the federal government and the American side regarding military withdrawal from Iraqi territory."

He stated that "Iraq has the ability and potential to protect and secure its lands and preserve them from any risks that may be exposed to them, and it also has the potential to secure the path to development and other economic projects without the need for the presence of any foreign military." link

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CandyKisses:  The logic of power imposes itself. America will not remove its forces from Iraq by peaceful means

Information / Baghdad...

The logic of force or resorting to the language of weapons is one of the very available options to remove the American occupier from Iraqi territory, as history imposes itself and recreates its events through what happened before 2011 of jihadist operations and painful blows by the Islamic resistance Against the American occupation and its bases spread in the country.

 These strikes prompted the US administration at the time to negotiate a withdrawal from Iraq, despite Washington's many options that could constitute a pressure factor on the federal government to ensure the presence of its forces militarily on the ground of Iraq, but the popular rejection imposes itself and puts dots on the letters in order to get rid of the American occupier.

Hussein al-Karawi, head of the organizing body of the popular movement for the Belt and Road, told Al-Maalouma that "the historical facts with the American side confirm that its military forces will not leave Iraq by peaceful and diplomatic means."

He added, "Their exit from the country in 2011 was preceded by successful strikes and major jihadist work by the Islamic resistance factions to ensure their expulsion from the country."

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CandyKisses:  JPMorgan on the US economy: recession still on the table

Economy News - Follow-up

JPMorgan CEO Jamie Dimon said he will not remove the possibility of a U.S. recession "off the table," but the Fed must wait before cutting interest rates.

Damon said via video link at the Australian Business Review Summit in Sydney on Tuesday: "The world expects a smooth downturn, maybe 70-80 per cent." I think the chance of a soft landing in the next year or two is half that. Worse is stagflation," according to Bloomberg.

Dimon said economic indicators have been distorted by COVID-19, and he believes the Fed should wait for more clarity before cutting interest rates. They can always cut interest rates quickly and dramatically. Their credibility is a bit at stake here." Unemployment in the United States is very low right now, and wages continue to rise."

Damon said that while the U.S. economy is currently "booming," the risk of a recession remains.

These comments strike a slightly less optimistic tone from the chief banker, who recently drew upbeat forecasts for global markets – a sharp departure from his views less than two years ago when central banks first began to tighten interest rates. Damon made headlines for warning in 2022 that a "hurricane" was about to hit the U.S. economy.

Federal Reserve Chairman Jerome Powell indicated last week that the central bank is approaching the confidence it needs to start cutting interest rates.

"We are waiting to become more confident that inflation is moving sustainably at 2 percent," Powell said Thursday while answering questions from the Senate Banking Committee.

Mot... Ya Notice that the Day After!!!!

Mot:  .I Thinks its gunna be one of Those Weeks I Do!!!

Iraqi News Highlights and Points to Ponder Tuesday AM 3-12-24

Iraqi News Highlights and Points to Ponder Tuesday AM 3-12-24

A Quarter Of A Million Employees In Kurdistan Opened Bank Accounts.. “My Account” Project Attracted 5 Banks

Posted On 03-12-2024 By Sotaliraq  The Kurdistan Regional Government announced that the Islamic Bank of Iraq has joined the “My Account” project, bringing the number of participating banks to 5, confirming the establishment of more than 240,000 bank accounts for the region’s employees.

Statement by the Government of Kurdistan: The Kurdistan Regional Government is pleased to announce that the Islamic Bank of Iraq (IIB) will be one of the participating banks in the (My Account) project, along with other participating banks such as BBAC, Cihan, NBI, RT. The KRG expects other major banks to join by the end of this month.

To date, more than 240,000 bank accounts have been created for KRG employees and more than 120,000 bank cards have been distributed. The KRG’s partnership with banks has led to a significant increase in ATMs, and the employee registration process continues throughout the Kurdistan Region. The project continues its plan to register more than one million government employees by the end of this year.

This step comes as part of efforts to provide more banking services to citizens and paid employees.

]It is also a step towards providing healthy competition in the banking and financial services sector, and banks will be encouraged to increase their branches throughout the Kurdistan region.

The KRG expects to expand its partnerships with participating banks, especially with the introduction of digital payments starting next year.   LINK

For more information about the My Account project, please visit the website: www.myaccount.gov.krd

Salaries of retirees to banks  One Million Employees In “My Account” And Merchants Will Not Carry Cash Next Year.. Prime Minister Of Kurdistan

Erbil – 964  The Prime Minister of Kurdistan, Masrour Barzani, said on Saturday that financial transactions in the region will become electronic within two years, while he confirmed that by the end of next year, one million employees will be in the “My Account” project.

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This came during his attendance at the annual Iraqi banking conference in the region, in the presence of the Governor of the Central Bank, Ali Al-Alaq, a number of directors of banks in Iraq, the region, and Arab countries, and a number of officials.

A statement by the regional government, a copy of which was received by 964 Network:

In the presence of the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, the annual Iraqi Banking Conference was held today, Saturday, October 21, 2023, in the Kurdistan Region.

The conference was launched in the presence of the Governor of the Central Bank of Iraq, Ali Al-Alaq, a number of bank directors in Iraq, the Kurdistan Region, Arab countries, and officials in the federal and regional governments.

The Prime Minister delivered a speech during the conference in which he highlighted the importance of strengthening the banking system. He also spoke about the plans of the ninth ministerial formation to establish a strong banking structure. He also stressed the need to enhance banking coordination and cooperation between the Kurdistan Region and the federal government, in addition to other important topics.

Below is the text of the speech:

In the name of God, the most gracious, the most merciful

Gentlemen and guests  I welcome you with the warmest welcome.

I am pleased to participate with you in this important conference dedicated to dialogue on the banking system and the development of banking services, especially private banks.

I welcome all distinguished guests, and in particular, His Excellency Mr. Ali Al-Alaq, Governor of the Central Bank of Iraq.

I commend the organizers of this conference for choosing a very important topic for the purpose of discussion and dialogue, especially with regard to the current situation in Iraq and the Kurdistan Region. Reforming, organizing and activating the banking sector is an urgent necessity in order to achieve economic development.

Since the duties of this ministerial formation began in the regional government, we have realized the importance of having a strong, active and efficient banking system, so we are working to reform the banking system and establish a modern and solid infrastructure and foundation for the economy of our region.

Here I would like to talk with you about some of our plans to reform the banking sector in the Kurdistan Region.

Starting next year, Kurdistan Region retirees will no longer have to wait in lines for long hours in the heat of summer and cold of winter. Rather, their money will be deposited in their bank accounts on a specific day.

Merchants will also not have to carry large sums of money with them, but will be able to monitor their bank accounts and complete financial services via the Internet. Also, those looking for small loans for various purposes will also find the process easier. As for citizens who wish to send remittances to their relatives, relatives, and families inside or outside the country, they will avoid transferring money through financial transfer companies.

By the end of this year, thousands of public sector employees will be registered within the (My Account) project, and bank accounts will be opened for them in private banks to receive their salaries from, and this process will accelerate next year.

We are determined that, by the end of next year, one million salary recipients will have their own bank accounts. We are working to accelerate the pace of this program, and we have prepared everything necessary in this regard.

During many years within the government, there was a discussion about who should take the lead, us or the banks? And in this government, we decided to take this initiative upon ourselves. Through this work, we will contribute to establishing a sound banking system.

We have decided to support the banks' expansion plan, through the following program:

After public sector employees have bank accounts, private sector employees must follow in their footsteps... This will make banking services available to thousands of individuals in Kurdistan.

We also encourage banks to expand their office presence throughout Kurdistan, and within two years the area of ​​automated teller machine (ATM) networks will expand tenfold. We are also working to provide electronic payment devices in most Kurdistan markets and stores.

We must acknowledge that to date, public sector banks have not been able to meet the needs of our citizens. Without a doubt, reliance on cash has limited our economic growth and opened the door to counterfeiting and money laundering. This must change. Also, we will provide any possible assistance to private banks, so that they can improve and accelerate their services.

Our goal is to create healthy competition between banks in the Kurdistan Region, and citizens have the freedom to choose their bank based on the quality, development and speed of banking services provided. We have now selected five private banks in the (My Account) project. I hope that other banks will join this project in the future.

The selection of these banks includes clear criteria that were coordinated with the Central Bank of Iraq. For example: These banks have branches in multiple regions, provide their services digitally through mobile phones and advanced technology, own a network of automated teller machines (ATM), and provide digital financial services.

I would like to thank the banks for their continued support of our projects and programs, and I invite them to continue investing in their banking products and services.

Our citizens will see rapid changes in their lives in the future. For example, in the method of payment, and purchasing food and fuel, so that they can easily use bank cards and their services when traveling abroad with peace of mind. Business owners can also benefit from e-commerce opportunities and transfer money for trade purposes.

The government will also see changes in payment and revenue collection processes. Simply put, we work so that our citizens and business owners can access financial services, anywhere and anytime.

We must have our peasants' and farmers' money deposited directly into their bank accounts when they sell their wheat and grains to the federal government, instead of having to stand in queues in front of government departments to receive their dues, as is the case now. I hope we will see these changes soon.

I am confident that our banking partners today will become the largest private banks in the country within the next five years.

Here, I would like to express my thanks and appreciation to all parties and gentlemen for the help and support they have provided us in this vital mission. In particular, I would like to thank Mr. Ali Al-Alaq, Governor of the Central Bank, and his team for their assistance and support. Under the guidance and support of the Federal Prime Minister, Mr. Muhammad Shiaa Al-Sudani, they continue to coordinate with us and assist us in the areas of implementing banking reforms and treasury management. Thank you for your support and support.

We will continue to coordinate and cooperate with the federal government in combating money laundering and working to stabilize the Iraqi dinar. On this issue, I am pleased with the progress we have made this year in combating money laundering and terrorist financing. There is more work to be done, and we will do our best to do so.

Gentlemen:

In developed societies and countries, having a developed and effective banking system is one of the basic requirements for people's daily lives. At the same time, the strong modern banking system is considered an effective support and aid to economic prosperity, as it provides financial services and many facilities to business owners and investors.

We can even say that the strength of the banking system in any country or society constitutes a basic principle and condition for economic strength, because the presence of a strong and effective banking system provides a favorable environment for economic and commercial growth.

Banks can play a major role in the economic recovery of any country, because banks regulate the economy of any country, and they are the basic pillar of the economic movement in the country.

There is no doubt that one of the main problems and obstacles that prevent the existence of a strong and advanced banking system in Iraq and the Kurdistan Region is the lack of people’s confidence in banks, and this is due to many reasons, most notably the instability of the political and economic situation in the country, and the widespread spread of corruption. Which made citizens lose confidence in banks and financial institutions.

But we in the Kurdistan Regional Government will provide the banks with all necessary cooperation and assistance, so that we can build trust between banks and citizens, by ensuring that people’s capital and wealth are protected by the banks. Banks must also expand their services. This means that with cooperation and coordination between the government, banks, and citizens, we can rebuild the required confidence in banks.

As a result of political instability, wars, and lack of security in recent years, Iraq and the Kurdistan Region need a broad process of reconstruction and building economic infrastructure in all sectors. Accordingly, the presence of an active and developed system represents a major and helpful factor through which we can continue the process of reform, construction and reconstruction.

The steps taken by Mr. Muhammad Shiaa Al-Sudani, the federal government, and us in the Kurdistan Region are very promising, and we can see great economic progress in the near future with cooperation and mutual support.

[color:fcf0=rgba(0, 0, 0, 0)]Once again, I applaud you for holding this conference, and I hope that it will produce constructive results and recommendations that contribute to the advancement of the banking sector and the economic situation in general.  https://964media.com/238406/

Parliamentary Finance “Knows Nothing” About The 2024 Budget Schedules - Urgent

Politics |Yesterday, 20:05 |Baghdad today – Baghdad  Today, Monday (March 11, 2024), the Finance Committee in the Iraqi Parliament confirmed that it does not know the contents of the 2024 budget schedules, in addition to not knowing the date of sending them to Parliament.

Committee member Mustafa Al-Karaawi told “Baghdad Today” that “the Iraqi government is very late in the issue of sending the schedules of the 2024 budget law,” noting that “the law emphasizes the necessity of sending those schedules before the end of the fiscal year, that is, before the end of the last year.”

Al-Karaawi stated, “Our last meeting with the Minister of Finance, Taif Sami, in which I confirmed that the tables are still with the Council of Ministers and they are supposed to be sent soon to us in the House of Representatives so that they can be reviewed and voted on quickly so that the budget with all its paragraphs and projects is passed,” pointing out that “to Now we do not know anything about the schedules and we do not know exactly when they will be sent.”

More than two months have passed since the new year without the budget for 2024 being completed, amid the need to make some amendments, especially the costs of oil production in Kurdistan, as well as the costs of the salaries of its employees.   LINK