"THE UST PUTS PARLIAMENT IN ITS PLACE" BY FRANK26, 19 AUGUST

 KTFA

FRANK26: "THE UST PUTS PARLIAMENT IN ITS PLACE".........F26

Parliamentary Finance Committee to US Delegation: The Triennial Budget Represents an Important Message to Foreign Companies

8/14/2024

 

Baghdad
 

The head of the parliamentary finance committee, Atwan Al-Atwani, confirmed to the delegation of the US embassy in Baghdad, on Wednesday, that the three-year budget represents an important message to foreign companies.

The media office of the head of the parliamentary finance committee said in a statement, seen by "Al-Eqtisad News", that "the head of the parliamentary finance committee, Atwan Al-Atwani, received a delegation from the US embassy in Baghdad, headed by the Minister Plenipotentiary for Economic and Commercial Affairs, Julie Jules."

The statement added that "Al-Atwani reviewed - during the meeting - the financial and monetary situation in the country, and the role of the finance committee in monitoring the implementation of the general budget law, especially the paragraphs related to maximizing non-oil revenues or those supporting the private sector and investment."

It pointed out that "Al-Atwani addressed the most important challenges facing financial policy in Iraq, most notably the restrictions and procedures of the US Treasury, which have had a significant impact on the work of the banking sector and caused the continued crisis of fluctuations in the dollar price."

The head of the finance committee - according to the statement - touched on "the importance of the private sector entering as a major partner with the government in implementing and financing projects and providing services," stressing "his committee's determination to approve the law on partnership between the public and private sectors, in addition to amending the tax law in a manner that keeps pace with the development taking place in the work of the tax system, whether in providing services or collection." 

The statement added that "the meeting discussed ways to enhance joint bilateral cooperation between Iraq and the United States within the framework of the Strategic Framework Agreement, and to activate its economic contents related to developing capabilities and helping to reform the financial and banking system."

For its part, the US embassy delegation praised "the experience of the three-year budget for its tangible positive repercussions in terms of improving the living conditions of Iraqis and enabling the government to perform its duties," stressing "its readiness to cooperate and work together with the Finance Committee to solve the existing problems between the US Treasury and Iraqi banks."

Al-Atwani stressed - according to the statement - that "the three-year budget represents an important message to foreign countries and companies that Iraq's financial situation is good and there is no obstruction or halt in contracts and implementation," explaining that "Iraq is rich in its wealth and energies and all it needs is wise management of money."

He continued, "We suffer from the problem of unfair US Treasury sanctions against 14 Iraqi banks without prior warning," indicating that "obligating Iraq to cover its foreign transactions through the platform and punishing a large number of its local banks are among the most important reasons for the continuation of the dollar crisis and the creation of the parallel market."

Al-Atwani expressed his "hope that this meeting will be a starting point for a new phase of cooperation, understanding and assistance in addressing the problem of US Treasury restrictions and procedures on the financial and banking sector."

LINK

LATEST FROM CLARE, 19 AUGUST

  Clare 

 Article: "Trade discusses the mechanism for Iraq's accession to the World Trade Points Federation"  

Quote: "The Private Sector Development Department discussed with the Departments of Foreign Economic Relations and Administrative and Financial Affairs at the Ministry of Trade, the mechanism for Iraq's accession to the Federal Union of World

Trade Points, the legal procedures for joining, and the benefits that the Iraqi sectors will obtain."

  Clare  

Article: "Is “floating the currency” a solution to the crisis of the high dollar in Iraq? A representative explains"

  Quote: "There are calls to float the exchange rate in Iraq...Floating the currency is a procedure based on liberalizing the exchange rate, leaving it to market factors (supply and demand), to determine its value without any form of intervention by the economic authority...There are two types of floating: the first is absolute floating, and the second type is managed floating, i.e. the type in which the central bank intervenes to direct the exchange rate up or down, as it sees fit to achieve the interests of the national economy."

Clare  

 Article: "US Treasury places Khamis Al-Khanjar on sanctions list"  

Quote:  "The US Treasury Department, through the Office of Foreign Assets Control (OFAC), has placed the head of the Sovereignty Party, Khamis Al-Khanjar, on the sanctions list of known individuals and entities with whom dealings are prohibited. "

 Article:  "Central Bank Governor Participates in a Workshop Specialized in Electronic Payment"   Quote: "His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, participated in a specialized workshop on accelerating the transition to electronic payment, sponsored by the Prime Minister, and organized by the Osool Foundation for Economic Development and Sustainable Development."

RECENT REPORTS OF CLARE: 

"RV UPDATE" BY CLARE, 9 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-9-august.html 

LATEST FROM CLARE, 6 AUGUST

https://dinarevaluation.blogspot.com/2024/08/latest-from-clare-6-august.html 

RV UPDATE BY CLARE, 4 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-clare-4-august.html

"PHYGOCYTOSIS!!!" BY FRANK26, 19 AUGUST

 KTFA

FRANK26: "PHYGOCYTOSIS!!!"............F26

Leftists Eating Their Own: Pro-Hamas Protesters Storm Democrat Kickoff Rally for Harris-Walz Campaign with Gov. Hochul and Mayor Adams — Smoke Bombs Set Off, Mass Arrests Ensue

by Jim Hᴏft Aug. 14, 2024

 

A rallying cry for New York Democrats turned chaotic Wednesday night as pro-Hamas protesters stormed the campaign event for Kamala Harris and Tim Walz.

The event, billed as the “New York City Kickoff to Elect Kamala Harris and Tim Walz,” attracted approximately 200 supporters to a venue on West 135th Street, organized by the Harlem to the Heights Campaign Committee, according to PIX 11.

Attendees included union members, local voters, and Democrat. Party delegates. Top Democrat leaders like New York Gov. Kathy Hochul, Mayor Eric Adams, and Congressman Adriano Espaillat were also present at the event.

 

“From people not wanting to go to the convention to people trying to get tickets to get into the convention. I had a… we were on a call the other night, and they said tickets are like, people are selling the tickets on the black market or up to $5,000 for the convention,” Serena Grey, a delegate from Staten Island, told PIX 11 News.

 

However, just across the street, tensions were brewing. A large group of protesters gathered behind barricades, voicing their opposition to U.S. support for Israel in the ongoing Israel-Hamas conflict.

The protest escalated when demonstrators attempted to breach the barricades surrounding the event, leading to a chaotic scene that included smoke bombs being set off, according to Ukrainian-American journalist Oliya Scootercaster.

As police intervened to restore order, multiple arrests were made. You can watch the clip here and here.

 

According to PIX 11, at least three demonstrators managed to breach the security perimeter and storm the event. You can watch the clip here.

 

LINK

LATEST FROM MNT GOAT, 19 AUGUST

 Mnt Goat   

 Article:  "BANKS OF “POWERFUL POLITICIANS” AFFECT EXCHANGE RATES, IRAQ FACES “INTERNATIONAL PRESSURE”  

The US Treasury is now parked in the CBI building and is not going anywhere until the dollar sales is controlled and the parallel rate matches (or is very close to) the dinar rate... this move by the US Treasury was so that they could move to the next step of the currency reform. So it is a very positive thing for us investors.

---

Mnt Goat  

 Article quote:  “introduction of new currency does not mean the destruction of ancient coins, but it will continue to trade to about ten years”.

 How can this possibly...“lop” when they will continue trade and use these larger three zero notes in the background for 10 more years after they complete the Project...So no more negative stuff about a LOP…please! 

STATUS OF THE RV

Well,,,, Well ! We are almost halfway through August already and still no RV. Did you actually expect there to be an RV last weekend….lol.. lol. .lol.. 😊 All you idiot intel gurus with your meaningless predictions for an RV over the weekend. Yes, their crystal balls must not be working…lol..lol..lol.. 😊 I could have told you there would be no RV…. Oh wait,,,, I did! 😊 Why we haven’t yet seen the RV should not be a major concern of anyone anymore. What you should be thinking about most is the exchange of the currency and how to manage your money afterwards. The RV will come and it is on its way. But not yet as there is work to be done in Iraq to get to this point. 

So, today’s news stems around two issues. One is the banking and monetary reforms and the other is the Project to Delete the Zeros. 

Let’s talk about the Project to Delete the Zeros first. 

Yes, the Project to Delete the zeros popped it’s head up again in the news.But why is our first question. yes, why now? This time it is a serious and a very informative set of interviews with two of the leading Iraqi economists. In the interviews we get to hear what they are thinking as resolutions to the economic issues facing the dollar and dinar. They must get this parallel black market under control. I have included the actual news media coverage video of the interviews in the Articles Section below OR you can read a full transcript of the interviews in the blog also. I set the captions to English. Here is the link to the written transcript. 

I cannot emphasize enough that if you want to know what is truly holding up the RV inside Iraq then please, please go and watch the video or read and study the transcript of the video. It is so informative and even I learned so much from it. Yes, I ...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/status-of-rv-by-mnt-goat-14-august.html

US Sanctions on Iraq: The Real Reason Behind the IQD RV Delay?

"THESE ARE THE GOALS OF THE MONETARY REFORM SUCCESS" BY FRANK26, 18 AUGUST

 KTFA

FRANK26: "THESE ARE THE GOALS OF THE MONETARY REFORM SUCCESS"........F26

Attracting investors and limiting currency smuggling.. Specialist explains the importance of "digitizing" Iraqi banks

8/16/2024

 

Baghdad 

Financial and economic expert Nawar Al-Saadi revealed, today, Friday (August 16, 2024), the importance of the benefits of "digitizing" financial transactions for Iraqi banks, while pointing out that digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services.

Al-Saadi told Baghdad Today that “digitizing financial transactions in Iraqi banks can provide significant benefits, especially in terms of reducing currency smuggling,” indicating that “by adopting digital systems, banks can track all financial transfers with greater accuracy and transparency. This means that each transaction is automatically recorded and saved in a central database that can be reviewed at any time. This allows the relevant authorities to monitor and quickly detect suspicious financial activities, making it difficult for smugglers to exploit the financial system to smuggle currencies.”

“Digitizing the banking system contributes to reducing money laundering cases, as these operations usually depend on exploiting loopholes in traditional systems, but with an advanced digital system, these operations become more complex. Digitization also allows the use of advanced technologies such as artificial intelligence to analyze patterns in banking data and identify any abnormal or suspicious transactions,” he added, stressing that “this helps prevent money laundering by early identification of unusual activities and reporting them to the competent authorities.”

Al-Saadi explained that “to implement this digital transformation in Iraq, there is a need for investments in technological infrastructure and developing the institutional capabilities of banks,” noting that “this requires providing modern technology, training employees to use it effectively, in addition to developing legislation and laws that protect users and encourage digital transactions. It is also important to enhance customer awareness of the benefits of digital transactions and build their confidence in the new systems.”

He stressed that “digitization in banks contributes to achieving more transparency and credibility in the financial system, as each transaction can be easily tracked and reviewed. It also improves the operational efficiency of banks by completing transactions faster and at a lower cost. In terms of security, digitization provides higher levels of protection against fraud and theft through advanced encryption technologies.”

The financial and economic expert concluded by saying, “Digitization can enhance financial inclusion by attracting users who do not deal with traditional banks by providing easy-to-access and easy-to-use services. Digitizing financial transactions in Iraqi banks also has great potential to enhance economic stability and reduce the risks associated with money laundering and currency smuggling, leading to a safer and more efficient financial system.”

LINK