Monday, August 26, 2024

“Hidden Forces of Speculation”… Economist Reveals New Reason for Dollar’s Rise, 27 AUGUST

 The rise in the dollar’s value in relation to the dinar has a new explanation, according to an expert in economics.

Bassem Jamil Antoine told , “In regards to the ascent in the dollar swapping scale and its excess at its ongoing rates in the equal market, it is the aftereffect of powers “in the background” or what is known as the “covered up state” of examiners and merchants, as they are the ones attempting to keep costs going on like this.”

He considered the public authority measures “frail notwithstanding these examiners and cash merchants, as they couldn’t restrict the ascent in return rates as a result of them and their activities and their ownership of influence, strength and cash, and they are the ones who decide costs,” as per him.

Jamil was of the opinion that “the exchange rates will remain the same as long as these hidden parties exploit the country.”

It is important that the dollar conversion scale in the nearby business sectors (equal) is recorded at around 1,490 dinars, an enormous distinction from the authority cost sold by the National Bank of Iraq, which is 1,320 dinars.

“There is no intention to reconsider the dollar exchange rates,” the Central Bank of Iraq Governor Ali Al-Aq stated on August 7, noting that “the Central Bank sells more than 250 million dollars daily at the official price 1,320 dinars.

He said, “The view that the dollar cost has risen or fallen is definitely not a right marker.”


LATEST FROM RAYREN98, 27 AUGUST

  RayRen98  

 [via Twitter/X]  ...Verified lower denom locations...Province 8 Baghdad, Province 11 Najaf, AND possibly Province 1 Duhok up near Turkey. 

 RayRen98  

 [via Twitter/X]  

Community Comment: Just informed that lower denoms are being released to the streets right now. ...It’s on the way.

 RayRen98 

  THE WORLD COURT RECEIVES DISPUTES (AND SEEKS RESOLUTION) BETWEEN NATIONS. THE DETAILS ARE INSIGNIFICANT, THE RV IS SLATED TO MOVE FORWARD NOW.

 I'M BEING TOLD THE WORLD COURT "CLEARED" A FORMAL COMPLAINT TODAY AND TOMORROW IS A DEFINITE POSSIBILITY.

RayRen98

   [via Babysmom] 

  I'M HEARING THAT A TECHNICAL ISSUE PREVENTED LIVE RATES ON YESTERDAY. THAT ISSUE
IS EXPECTED TO BE RESOLVED TODAY
...IF WHAT THEY ARE TELLING ME IS TRUE...SOME OF YOU ARE GONNA GO TO SLEEP WEALTHY $$$$$$..
.https://dinarevaluation.blogspot.com/2024/08/latest-from-rayren98-26-august.html

🔥 Iraqi Dinar 🔥 New Rate $3 🔥 Today IQD Value to Dollar RV News Guru Upd...

Labor determines the conditions for granting loans to factory owners, 27 AUGUST

 The Branch of Retirement and Government backed retirement for Laborers, subsidiary with the Service of Work, set an essential condition on Monday for conceding credits and government backing to proprietors of production lines and plants inside the modern area, while explaining the quantity of enrolled organizations working in this area.

According to the official publication, “the statistics on the number of companies are not fixed and differ from their counterparts in the government sector,” Kholoud Hayran, the Department’s Director General, stated. For instance, in the event of an increase or the end of the registration of company contracts, the current number of 250 companies may change in the future. Similar applies to the quantity of representatives, laborers and agreements, as they are in fixed numbers as per the enrolled organizations.”

“The recent decision of the Council of Ministers and the Economic Council to support the industrial sector and factories requires that they be registered within the Social Security Department,” she continued.

She made sense of that “the manufacturing plant proprietor who applies for a credit and has a 100 percent ensured laborer proportion will get an opportunity with the advance or in any field the state will uphold him and this choice was upheld by the State head.”

ABOUT Community comment: "Iraq is not a safe country." BY NADER FROM THE MID EAST, 27 AUGUST

 Nader From The Mid East  

Community comment: "Iraq is not a safe country.

 Why?  United States a safe country? 

 When you look at Chicago, Philadelphia, New York and all that you think it's safe?  

Fear.  Everywhere it's bad and good are everywhere...

Tell you the truth it's safer in Iraq than Chicago.  Visit the country and then judge.  You cannot judge because you heard something on the news or somebody told you something.  I was there two weeks ago.  I've been going back and forth.  My kids been going back and forth.  Everybody's been happy.


Lower Notes Being Released?🚩Iraq's New Economy = RI Rate $3.22+!🤔Dinar R...

KTFA: CHAT WITH CLARE , 26 AUGUST

 KTFA:

Clare:  Mahmoud Al-Mashhadani announces the resolution of the dispute over the presidency of Parliament and the majority’s approval of his nomination for the position

8/25/2024- Baghdad

MP Mahmoud Al-Mashhadani announced today, Sunday, the resolution of the dispute over the presidency of the parliament and the majority’s approval of his nomination for the position. Al-Mashhadani said, via the “X” platform: “I am pleased and honored by the approval of the majority of the national spectrum consisting of members of the House of Representatives to nominate me for the presidency of the House of Representatives and the resolution of the dispute over that.”

He added: "I pledge to them that I will preserve this trust and be with them and for all of them according to what the public interest requires." He concluded by saying: "The homeland comes before the component and the component comes before the political entity." LINK

Ryan1216:  Clare is Mahmoud officially the new president of parliament?

Clare:  NOT YET  ... ONLY NOMINATED, BUT THE NOMINATION PROCESS WAS  CAUSING THE DISPUTES & DELAY. I AM PRETTY SURE THIS IS WHO SUDANI WANTS. IMO

🟢BREAKING: CBI Meeting U.S. on Monday 8/26/2024 + NEW BANK STORY- V.P. o...


Freedom Fighter©️


🚨New Podcast Alert

August 24, 2024


🟢CBI Meeting Confirmed with the U.S. for Monday (TODAY) 8/26/2024


🟢The Technology Needed To Make Exchanges Happen ISO20022


🟢FEDNOW


🟢Vietnam Signs Contract With China helps VND - Dong


🟢Banking Systems Communicating For Exchanges 


Iraqi Dinar Guru News Highlights (8/26/24)

DINAR REVALUATION UPDATE: Development Consultant Amer Al-Jawahiri's Insights on Tax Reform, 26 AUGUST

Development Consultant Amer Al-Jawahiri's Insights on Tax Reform

In August 2024, development and investment consultant Amer Al-Jawahiri offered his perspective on the ongoing tax reform process in the country1. Al-Jawahiri highlighted that the reforms encompass all sectors, emphasizing the Prime Minister's attention to the topic following a meeting with the Supreme Committee for Tax Reform1. This meeting indicates a comprehensive approach to addressing tax issues and enhancing fiscal stability.

The Significance of Tax Circulation

Al-Jawahiri told Mawazine News Agency that the circulation of public funds and resources signifies the presence of an informal economy within the country 1. This informal economy plays a crucial role in the financial landscape, affecting the effectiveness of tax reforms and the overall economic health of the nation.

Tax Reform and Economic Development

The tax reform process is seen as a critical step towards economic development and investment. By addressing the informal economy and ensuring that resources are channeled effectively, the government aims to strengthen the public sector and promote a more stable economic environment1.

Challenges and Opportunities

1. Investment in Oil and Other Resources:

Al-Jawahiri stresses that relying solely on oil without strategic investment can lead to economic instability 2. He advocates for the investment of oil revenues and other resources, such as customs revenues and taxes, to stimulate economic growth rather than increasing taxes and burdening citizens2.

2. Agricultural and Rural Development:

Encouraging a return to rural areas with planned projects, agriculture, and animal husbandry can revitalize the countryside and boost economic activities2. However, this requires strategic planning and capital investment to ensure feasibility and sustainability2.

3. Government Appointments and Projects:

The consultant warns against government appointments without corresponding projects, which can lead to an overabundance of underutilized personnel2. This highlights the need for a balanced approach to employment and project development2.

Conclusion

Amer Al-Jawahiri's comments on the tax reform process underscore the complexities of fiscal policy and its impact on economic development. By addressing the informal economy and promoting strategic investment in various sectors, the country aims to achieve a more stable and prosperous economic future1.

Al-Jawahiri comments on the tax reform process, 26 AUGUST

  Al-Jawahiri comments on the tax reform process

Development and investment consultant Amer Al-Jawahri said: “The tax reform process currently taking place includes all the empty sectors, and this is very accurate for the Prime Minister in light of Al-Sudani’s meeting with the Supreme Committee for Tax Reform.”

Al-Jawahri Al-Jawahri told Mawazine News Agency: When we say that the state’s public funds and resources have circulated, this means that there is an informal economy in the country. 

According to the development expert: “Informal businesses have existed for many years, and they still do, and there is even an expansion that is not included in tax accounting, which means that it is not registered, and is considered informal in this matter, and the other side of the tax reform will take place and will continue.”

He explained: “The use of digital electronic tools and others that exclude human interaction means that perhaps 80 or more than 90% of the work that is accomplished outside the scope of human interaction will be linked. This may save losses. We do not want to pay the numbers, but it is very clear that the losses of the numbers are very large; which took into consideration the size of imports.

He continued: “If we count the size of imports, how much do we earn from tax money? There is a gap in this aspect, and eliminating corruption is not easy, and corruption is not only about the leakage of money and loss, which means depriving the public right of its rights and at the same time the money goes into pockets, and people get rich at the expense of society.
 
He pointed out: "This money goes to services, but at the same time, this achieves, in one way or another, the rule of law, and also achieves, a relative improvement in the business environment, and this improvement when added to it, an improvement in other aspects, while he stressed that working on it in the business environment, then, we can say, there are things that encourage local capital for direct investment.

He  continued saying: "May we be drawn into it, and attract capital or foreign direct investment, this is the entrance or angle that I want to enter from the side of what the Iraqi government aspires to.

 Al-Jawahiri urged everyone to support the tax reform process despite the existence of harsh and severe opposition, veiled and covered with large veils and beautiful veils, which will try to put obstacles in front of the implementation of tax reform, which increases with the country's resources or the general budget. Improving public resources means that the state and successive governments are able to spend on improving the service reality and infrastructure of the country, the most important of which are the health, education, security and municipal sectors. link

LATEST FROM JON DOWLING, 26 AUGUST

 JON DOWLING

Not much going on in Iraq right now. CBI Allaq who resigned is going to Washington to ask for the sanctions to be lifted. We wait on Israel to do their Dubai strike, while everything else happens. 


@JonDowling

--

NELSON CHAMISA

WE’RE A GREAT PEOPLE…A people of politeness and hospitality. Our DNA as a people is excellent. We are blessed with many endowments. If we could just get our politics right and get our nation to be born again. We have everything. We have a unique God-given gift of resources-the human resources, the natural resources, the material resources and the

spiritual resources. #JustImagine If we could come together, pull together and walk together, the world will see a WINNING NATION and SHINING COUNTRY on the African continent and beyond. Blessed Friday #JustImagine #NewDawn #Godisinit

---

This is the latest update we can find from Nelson Chanisa concerning Zimbabwe. Nothing official has come out yet regarding the elections. As soon as it’s official, we’ll let you know accordingly. 👆🏻👆🏻


@JonDowling

IRAQ'S NEW INDUSTRIAL LAW

DINAR REVALUATION : Approval of Industrial Investment Law in Iraq: An Overview, 26 AUGUST

Approval of Industrial Investment Law in Iraq: An Overview

On Monday, August 26, 2024, the head of the Parliamentary Investment Committee, Muhammad Al-Zayadi, announced that the final touches had been put in place to approve the Industrial Investment Law within the House of Representatives.  This significant development marks a crucial step towards strengthening the industrial sector and attracting more foreign direct investment (FDI) in Iraq.

Economic Context and Objectives

The approval of the Industrial Investment Law comes at a time when Iraq is seeking to diversify its economy and reduce dependence on oil revenues.  The country is aiming to enhance economic growth by fostering a more conducive environment for industrial activities and private sector development.

Key Provisions of the Law

The Industrial Investment Law is designed to address several key areas to stimulate economic growth and industrial development. It includes provisions to streamline investment procedures, provide tax incentives for industrial projects, and facilitate access to land and financing for investors. 

Streamlining Investment Procedures

The law simplifies administrative processes for investors, reducing bureaucratic hurdles and improving the ease of doing business in Iraq. This is expected to attract more foreign and domestic investors to the industrial sector.  

Tax Incentives

To encourage investment in industrial projects, the law offers tax exemptions and deductions for a specified period. This is aimed at making industrial ventures more financially viable and attractive to potential investors. 

Access to Land and Financing

The Industrial Investment Law facilitates access to land for industrial purposes and provides support for financing industrial projects. This includes measures to ensure that investors can secure land rights and obtain financing from local and international sources. 

Expected Impacts

The approval of the Industrial Investment Law is anticipated to have several positive impacts on the Iraqi economy. By providing a more favorable environment for industrial activities, the law is expected to: Boost economic growth and diversification Increase employment opportunities in the industrial sector Enhance the competitiveness of Iraqi industries in the global market Encourage FDI and foster private sector development

Conclusion

The final approval of the Industrial Investment Law in Iraq represents a significant milestone in the country's efforts to strengthen its industrial sector and attract more foreign investment. With streamlined procedures, tax incentives, and improved access to land and financing, the law is poised to contribute to economic growth, diversification, and job creation in Iraq.

Finalizing the approval of the Industrial Investment Law, 26 AUGUST

  Finalizing the approval of the Industrial Investment Law

Today, Monday, the head of the Parliamentary Investment Committee, Muhammad Al-Zayadi, revealed that the final touches had been put in place to approve the Industrial Investment Law within the House of Representatives.  

Al-Ziyadi told Al-Ma'louma Agency, “Approving this law will contribute significantly to moving the wheel of the Iraqi economy, as it grants great privileges and guarantees to investors in the industrial sector.” 

He added, "His committee held an expanded meeting with the Economic Committee to resolve the disputed points within the law," noting that "the law, if approved, will reflect positively on the labor market by providing many job opportunities for young people within the country."

He continued, “His committee has put the final touches to approve the industrial investment law soon in the House of Representatives, as it is one of the important laws.” link