What else is in the news?
In speaking about the Pillars of Financial Reforms, I am referring now to two articles concerning the Stock Market reforms.
😊 The first article talks about obligating all licensed exchange companies under categories (A, B) and all licensed brokerage companies of category (C) to buy and sell foreign currencies to obtain a specialized certificate for their companies’ work. This is all good as it shows the CBI is adding yet another safeguard of the Iraqi Stock Exchange (ISX) from corruption. It is titled “SPECIALIZED COURSE IN THE WORK OF EXCHANGE AND BROKERAGE COMPANIES (A, B, C)”
😊 Then in another article they tell us the market value of listed companies on the ISX increased in market Iraq for securities to exceed the 20 trillion dinar barrier for the first time Iraqi supported by the banking sector. I want to point out that the articles says “supported by the banking sector”. Do you see now how the Financial Reforms support each other and are an important foundation for what is to come next?
What is to come next?
Could it be the currency reform? Yes, the Financial Reforms will have to be put in place for the currency reforms to be implemented. Again, the foundation must be laid before we can see the currency reform process. Go read the article titled “INCREASE IN THE MARKET VALUE OF COMPANIES LISTED ON THE IRAQ STOCK EXCHANGE”. Go read it.
Yes, so I am going to be persistent in drilling the Pillars of Financial Reforms into everyone’s head. I am relentless as this is the CBI talking to me asking now to tell you the TRUTH. This is how and ONLY how we are going to see the reinstatement. This groundwork or foundation work must first be laid and it is being accomplished as I write this Newsletter. Get it?
What else is in the news?
😊 Croatian PM: Iraq represents an important opportunity for development and investment in the energy and oil sector
😊 EdgeNext and Commercis announce Partnership for Iraq Expansion. According to a press release, this collaboration will enable the expansion of EdgeNext’s cloud delivery services throughout Iraq, “bringing transformative improvements to the country’s digital landscape.”
😊 US Ambassador discusses with Oil Minister reopening Iraq-Türkiye pipeline. US Ambassador Alina Romansky discussed with Oil Minister Hayan Abdul-Ghani the reopening of the Iraq-Turkey pipeline today, Friday.
😊 Al-Sudani: Investment opportunities exceeded $100 billion and industrial cities were established in Baghdad. Prime Minister Mohammed Shia Al-Sudani held a meeting yesterday, Monday, with the Chairman of the Egyptian Al-Suwaidi Group of Companies, Ahmed Al-Suwaidi, and a group of directors of Egyptian industrial and commercial companies, in the presence of a number of advisors to the Prime Minister.
During the meeting, Al-Sudani pointed out the expansion of economic cooperation between Iraq and Egypt, especially in partnerships with the Egyptian private sector, stressing that the investment opportunities offered in Iraq,
😊 Next, I want to bring one more bit of news to you that I consider a very good explanation of exactly what I have been telling you about the phased approach to reforms all in one article. It is a VERY GOOD summary of it all. Please take the time to go read it. I talked more about this in my Tuesday 10/22 Newsletter. Of course, I can also say I showed you all of this in various articles from the past. Do you remember? The title of the article is “BANKING REFORM METHODOLOGY AT THE CENTRAL BANK (2016-2026)”. Yes it is a WOW! article.
I quote from the article –“The steps of banking reform that the Central Bank has been taking since 2016 began when Mr. Ali Mohsen Al-Alaq was appointed Governor of the Central Bank of Iraq on 9/9/2014, which is a difficult and complex stage in Iraq’s security and economic history.”
So, you see this is why my CBI contact told me Ali Alaq was not going anywhere when he pressured them to accept his methods of reform or he would resign. The pressure to get him to resign did not work. The good guys in the government did not accept his resignation and instead they are now only following and supporting his plan even more. But who wanted him to resign in the first place?
It was, of course, the Iranian backed politicians in the parliament. Can you see it now? Can you see the corruption of the politicians on one hand who do not want Iraq to move ahead? Like in the U.S. they seeded these corruption politicians in the government through the free elections, which they probably rigged. Can you see why it is taking so long to get back on FOREX? Yes, it’s a long road and they are literally “slugging it out” to get there. But they will succeed and we are seeing their success in every one of my Newsletters. We all know what the final “prize” is, don’t we?
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