The coordination framework called on the House of Representatives to hold a meeting next Saturday to resolve the presidency of the Council.
The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram. To subscribe, click here
The coordinating framework, in a statement following its meeting today in the presence of the Prime Minister, a copy of which received {Al-Furat News}, called on members of the House of Representatives to: “hold a meeting next Saturday to resolve the presidency of the Council and put an end to the vacancy of this important position throughout the past period.”
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.
Iraq was facing security and economic shocks due to the occupation of 40% of the country’s territory by the terrorist ISIS and the global drop in oil prices in June 2014 by 75%. He was reassigned again on 1/23/2023 after the emergence of new crises and challenges at the economic, financial and banking levels, focusing on the lack of control over the unprecedented rise in the US dollar exchange rate and the rise in the annual inflation rate to (7.5%) in January 2023.
The Central Bank worked from 2016 to 2020 to address the effects of the economic and security shocks, the most prominent of which was the government’s inability to pay employees’ salaries on time.
The Central Bank was able to use its foreign exchange reserves and the method of rediscounting treasury transfers from government support in the amount of 16 trillion dinars, and the crisis was overcome at the time. In 2015, in light of these difficult economic conditions, the Central Bank began to develop its plans for the coming years and draw up a methodology for banking reform and structural, technical and administrative development of the Central Bank.
This resulted in the issuance of its first strategy for the years (2016-2020), which included 5 main objectives and 140 sub-objectives, 129 of which were achieved, at a rate of 92%, during the years of implementing the strategy. It contributed to establishing the basic structures and pillars for moving to a new stage of financial and banking reform, accompanied by the strategic banking projects plan for the years (2019-2023) and the issuance of the second strategy (2021-2023) to complete the achievement of the sub-objectives that could not be implemented in the first strategy, numbering (11) sub-objectives, during which the government continued to resort to the Central Bank and obtain (30) trillion dinars, and the total amount owed by the government became (46) trillion dinars.
During the second term of the Governor, which began in 2023, the Central Bank worked on studying the achievements of the two previous strategies and diagnosing the foundations of the desired reform. The efforts to prepare the third strategy continued throughout 2023, and the foundations and foundations were built to set the goals for this new strategy for the years (2024-2026), which derived its main and sub-goals from the state’s general economic policies and its strategy for financial and banking reform adopted by the government in the government program and from Central Bank Law No. 56 of 2004. It included programs with clear goals and initiatives for a period of three years in a special, complex economic and financial circumstance fraught with risks and challenges at the level of internal and external economic and financial relations. The third strategy identified the main goals with 7 goals, 24 sub-goals and 75 initiatives to achieve the main and sub-goals, and charted the path for banking and financial reform according to the following strategic goals:
– 1- Supporting and enhancing monetary stability. 2- Enhancing digital transformation, activating electronic payment and supporting cyber security. 3- Enhancing financial inclusion . 4- Maintaining a sound financial system. 5- Developing the organizational structure and developing human resources capabilities. 6- Enhancing the position of the Central Bank locally and internationally. 7- Enhancing compliance of the banking sector and the non-banking institutions sector in line with international standards. Programs, policies and initiatives have been identified to achieve the goals, and perhaps the most prominent program is the launch of the National Strategy for Bank Lending in Iraq (2024-2029) and the approval of the Council of Ministers to implement it, which will restructure banking financing in Iraq in addition to leaving the electronic platform and adopting correspondent banks in foreign transfers, protecting the financial system, enhancing financial inclusion,
managing monetary and financial stability, developing oversight and supervision, developing regulation in the banking sector, completing the development of the infrastructure for digital transformation, licensing digital banks, implementing regulatory policies in the Central Bank in accordance with the frameworks and technologies adopted in global central banks, raising the capabilities of human resources, developing banking operations, strengthening the bank’s internal and external relations, and representing it locally and internationally.
What has been presented for the ten years of the financial and banking reform process confirms that the next two years will inevitably result in the transition to comprehensive and radical reform of the Iraqi banking sector and its transformation into a solid sector that contributes to sustainable development.
The head of the State Powers Bloc, MP Faleh Al Sari, stressed the importance of the census and population census in ensuring the fair distribution of wealth.
Al-Sari, accompanied by the Minister of Planning, Mohammed Tamim, visited the Population Census Operations Room to review the preparations for the general population census scheduled for November 20-21.
The workers in the operations room gave a detailed presentation of the work mechanisms and the achievement rates achieved in the numbering and enumeration operations at the level of each governorate, in addition to explaining how to conduct field follow-up for researchers throughout Iraq via geographic information systems, and mechanisms for sending data immediately.
For his part, Representative Faleh Al-Sari expressed his deep appreciation for the efforts made by the Ministry of Planning and the Statistics Authority to conduct the population census electronically and in record time, stressing the importance of this project in ensuring fair distribution of wealth and ensuring fair parliamentary representation for all governorates, in addition to its developmental importance in understanding the Iraqi reality in all its details and drawing up future policies in all fields. LINK
Guys, whenever Iraq puts out/release their daily News Articles, that means it’s already done/completed & they (Govt) are further along with what they printout release for us to dissect & read.
It’s ILLEGAL for the IRAQ Govt to tell us vocally or in print the date/rate beforehand.
The Iraqi Govt already has the NEW Dinar rate, however they are making us investors/Iraqi citizens wait for certain events to take place first & their perfect date to release it & give us the NEW rate.
It’s INEVITABLE & WE WILL HAVE THE LAST LAUGH haters!!!
“MINISTER OF TRANSPORT ANNOUNCES 11 MEMORANDA OF UNDERSTANDING TO BE SIGNED WITH SPAIN”
10/21/2024
Minister of Transport Razzaq Al-Saadawi announced today, Monday, 11 memoranda of understanding that will be signed with Spain, while calling on Spanish companies to participate effectively in the next session of the Baghdad and Iraq Reconstruction Exhibition.
Al-Saadawi said in a speech during the launch of the 13th session of the Iraqi-Spanish Joint Committee, “it is appropriate for me to begin my speech with the major shift in Iraq’s new economic and trade policy to deepen the bonds of trade, economic and international cooperation to restore Iraq’s leading role as an important and major axis regionally and internationally.”
He added, “the Iraqi government, headed by Prime Minister Mohammed Shia al-Sudani, has begun working to adopt a policy of economic openness to the countries of the world, in addition to maximizing the role of the private sector in the economic development process,” indicating that “Iraq is witnessing a qualitative shift today through investing in its geographical location, as it will be a cornerstone for the sustainable economy through the land railway link project from Iraq through Turkey and from there to Europe to transport goods and link the Middle East to the European continent.” …. He continued, “Iraq has been linked with friendly Spain by historical relations dating back to the seventies of the last century, perfumed by the bilateral agreement for cooperation in various economic, commercial, scientific and technical fields, signed between the governments of the two countries in 1972, which had a great impact on the contribution of Spanish companies to many economic activities in Iraq, in implementation of the paragraphs that were agreed upon in the last minutes of the previous session held in Madrid in 2013.”
He pointed out that “through the continuation of the committee’s sessions, there will be a number of opportunities available to greatly enhance the level of bilateral cooperation in many commercial, economic and technical fields,” stressing “the need to enhance joint work to increase and diversify the volume of trade exchange between our two countries, as this cooperation will play a major role in strengthening the economy to serve both parties.”
He stated that “Iraq is looking forward to being a strong economic partner for Spain, in addition to the participation of Spanish companies in Iraqi infrastructure projects.”
He added, “today we meet again in the meetings of the 13th session of the Iraqi-Spanish Joint Committee for Economic, Technical and Commercial Cooperation, and we hope that this meeting will have fruitful results.
I would also like to take this opportunity to invite Spanish companies to participate in the reconstruction projects of Iraq, and take its place in the investment map launched by the National Investment Commission in Iraq and achieve effective participation in the next session of the Baghdad International Fair,” noting“the importance of the Spanish government’s support and assistance to complete all the obligations required for Iraq to obtain full membership in the World Trade Organization.” …. Al-Saadawi expressed his “deep thanks and gratitude to the Spanish side, government and people, and its efforts aimed at developing economic and trade relations between Iraq and Spain,” expressing his hope “that these efforts will succeed for both sides to reach common goals serving the interests of the two friendly countries, which the Spanish side requested to be signed during the Prime Minister’s visit to Spain.”
He pointed out that “the agreement included:
First: A memorandum of understanding proposed by the Federation of Iraqi Chambers of Commerce sent to the Spanish side.
Second: A memorandum of understanding proposed by the Iraqi Federation of Industries sent to the Spanish side.
Third: A memorandum of understanding proposed by the Iraqi Contractors Union sent to the Spanish side.
Fourth: A memorandum of understanding proposed by the Iraqi Ministry of Water Resources sent to the Spanish side.
Fifth: A memorandum of understanding proposed by the Iraqi Ministry of Youth and Sports, also sent to the Spanish side.
Sixth: An executive program proposed by the Tourism Authority to activate the agreement signed between the two countries in 1979, also sent to the Spanish side. ….. He pointed out that “the position of the memoranda of understanding proposed by the Iraqi side, which the Spanish side requested to be followed up outside the scope of the joint committee, through the Ministry of Foreign Affairs with the relevant authorities, in coordination with their representatives directly, considering that they are outside the scope of economic and trade cooperation, and according to the opinion of the Spanish side, are:
1- A memorandum of understanding proposed by the Iraqi Ministry of Foreign Affairs sent to the Spanish side.
2- A memorandum of understanding proposed by the Iraqi Ministry of Education sent to the Spanish side.
3- A memorandum of understanding proposed by the Ministry of Higher Education and Scientific Research sent to the Spanish side.
4- A memorandum of understanding proposed by the Iraqi Ministry of Culture, also sent to the Spanish side.
5- A memorandum of understanding proposed by the Iraqi Ministry of Justice to the Spanish side.
DINARTHINK-You dummies in the back not believing this thing backed by gold called The Dinar is not about to change rate?
…U really think the holders..U.S. Treasury, IMF, Billionaire entrepreneur DJT, Myself business entrepreneur investor,
You investors, World Wide Central Banks, Billionaire investors, Politicians, Pro Athletes, Celebrities are invested in the Dinar in order to lose money
Prime Minister Mohammed Shia Al-Sudani held a meeting today, 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, which were received from Arab and foreign companies, exceeded 100 billion dollars, and they reveal the breadth of economic growth at all levels and fields.
The Prime Minister discussed with the Egyptian delegation the study of the economic and financial model of the group in work, and cooperation in the sectors of industry, education, energy, and infrastructure. It also included discussing investment opportunities and partnership in the sector of maximizing petroleum resources, localizing the electrical transformer industry, smart meters that are linked to the electrical grid, and the carbon iron and steel industry.
It was agreed to study the establishment of industrial cities in Baghdad, as the group presented a map of projects that will be studied by the Advisory Board and sectoral bodies.
MZ: On the bond side…There are lots of meetings coming this week. I believe we may have the anser as to whether bonds will go now or wait until a day or two after the election? All eyes are on the 23rd. Many bond holders have updates and bond meetings on the 23rd.
MZ: Groups have been aggregating Asian bonds….For them to be paid they have to start paying the German bonds.
Member: I thought German bonds were done last week ?
Member: Don’t we have to have a rate change in order for the bonds to be paid?
MZ: It depends on what kind of bonds and who is buying them …Some will need a rate change, and they will go after we start going to the banks. But most are paid with historic funds that are already in place.
For a strong economic partnership..Iraq intends to sign 11 memoranda of understanding with Spain
Minister of Transport Razzaq Al-Saadawi announced today, Monday, 11 memoranda of understanding that will be signed with Spain, while calling on Spanish companies to participate effectively in the next session of the Baghdad and Iraq Reconstruction Exhibition.
Al-Saadawi said in a speech during the launch of the 13th session of the Iraqi-Spanish Joint Committee, “It is appropriate for me to begin my speech with the major shift in Iraq’s new economic and trade policy to deepen the bonds of trade, economic and international cooperation to restore Iraq’s leading role as an important and major axis regionally and intern
He added, “The Iraqi government, headed by Prime Minister Mohammed Shia al-Sudani, has begun working to adopt a policy of economic openness to the countries of the world, in addition to maximizing the role of the private sector in the economic development process,” indicating that “Iraq is witnessing a qualitative shift today through investing in its geographical location, as it will be a cornerstone for the sustainable economy through the land railway link project from Iraq through Turkey and from there to Europe, to transport goods and link the Middle East to the European continent.”
He continued: “Iraq has been linked with friendly Spain by historical relations dating back to the seventies of the last century, perfumed by the bilateral agreement for cooperation in various economic, commercial, scientific and technical fields, signed between the governments of the two countries in 1972, which had a great impact on the contribution of Spanish companies to many economic activities in Iraq, in implementation of the paragraphs that were agreed upon in the last minutes of the previous session held in Madrid in 2013.”
He pointed out that “through the continuation of the committee’s sessions, there will be a number of opportunities available to greatly enhance the level of bilateral cooperation in many commercial, economic and technical fields,” stressing “the need to enhance joint work to increase and diversify the volume of trade exchange between our two countries, as this cooperation will play a major role in strengthening the economy to serve both parties.”
He stated that "Iraq is looking forward to being a strong economic partner for Spain, in addition to the participation of Spanish companies in Iraqi infrastructure projects."
He added: “Today we meet again in the meetings of the 13th session of the Iraqi-Spanish Joint Committee for Economic, Technical and Commercial Cooperation, and we hope that this meeting will have fruitful results. I would also like to take this opportunity to invite Spanish companies to participate in the reconstruction projects of Iraq, and take its place in the investment map launched by the National Investment Commission in Iraq and achieve effective participation in the next session of the Baghdad International Fair,” noting “the importance of the Spanish government’s support and assistance to complete all the obligations required for Iraq to obtain full membership in the World Trade Organization.”
Al-Saadawi expressed his “deep thanks and gratitude to the Spanish government and people, and their efforts to develop economic and trade relations between Iraq and Spain,” expressing his hope that “these efforts will be successful for both sides to reach common goals that serve the interests of the two friendly countries, which the Spanish side requested to be signed during the Prime Minister’s visit to Spain.”
He pointed out that "the agreement included:
First: A memorandum of understanding proposed by the Federation of Iraqi Chambers of Commerce sent to the Spanish side.
Second: A memorandum of understanding proposed by the Iraqi Federation of Industries sent to the Spanish side.
Third: A memorandum of understanding proposed by the Iraqi Contractors Union sent to the Spanish side.
Fourth: A memorandum of understanding proposed by the Iraqi Ministry of Water Resources sent to the Spanish side.
Fifth: A memorandum of understanding proposed by the Iraqi Ministry of Youth and Sports, also sent to the Spanish side.
Sixth: An executive program proposed by the Tourism Authority to activate the agreement signed between the two countries in 1979, also sent to the Spanish side.
He pointed out that “the position of the memoranda of understanding proposed by the Iraqi side, which the Spanish side requested to be followed up outside the scope of the joint committee, through the Ministry of Foreign Affairs with the relevant authorities, in coordination with their representatives directly, considering that they are outside the scope of economic and trade cooperation, and according to the opinion of the Spanish side, are:
1- A memorandum of understanding proposed by the Iraqi Ministry of Foreign Affairs sent to the Spanish side.
2- A memorandum of understanding proposed by the Iraqi Ministry of Education sent to the Spanish side.
3- A memorandum of understanding proposed by the Ministry of Higher Education and Scientific Research sent to the Spanish side.
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 Morning and welcome to a new week of RV possibilities.
Member: One day before the BRICS summit, 10 days before Halloween and 15 days until the elections.
MZ: It looks to be a very interesting week.
Member: Metals are rising fast....could this be the all at once Andy talks about?....the way its going gold could top 2800 by the end of the week?
MZ: It will be interesting to see how they pivot and how they handle this one. Will there be sheer panic? Will they unload paper silver to try to suppress it? Will people lose all faith? It will be one heck of a interesting week. Will the music stop on the financial game of musical chairs?
Member: They can’t print their way out of this one . Canada’s dept to gdp is over 200%
Member: I am actually shocked that more US Banks have not folded in this mess.
Member: BOA is the one that's supposed to take the biggest hit with shorts..
Member: I wonder if Russia has anything to do with the silver increase.
MZ: Absolutely they do….Just last week they announced that they are going to make silver part of their foreign currency reserves…along with gold to back up their currency. This absolutely had some effect.
Member: BRICS meetings start today/tomorrow! That will be interesting to hear what they talk about!
Member: We need a little tangible hope this morning Mark. Please give us something to chew on the RV front!
MZ: “Parliament reveals the secrets of 6 qualitative blows to currency counterfeiting networks in Iraq” Iraq points out they are fight this hard….a number of the counterfeiters come from China. They are working hard to keep their monetary supply clean. They also say this is a global issue –especially with the dollar in most countries of the world…
MZ: “Salaries will be delayed: Fundamental changes coming to the Iraqi money and financial system” Some are worried about the budget deficit. This is another reason we need the dinar value changed- to erase that. .
Member: How do the people in Iraq manage to survive with their pay being delayed so long????
MZ: On the bond side…There are lots of meetings coming this week. I believe we may have the anser as to whether bonds will go now or wait until a day or two after the election? All eyes are on the 23rd. Many bond holders have updates and bond meetings on the 23rd.
MZ: Groups have been aggregating Asian bonds….For them to be paid they have to start paying the German bonds.
Member: I thought German bonds were done last week ?
Member: Don’t we have to have a rate change in order for the bonds to be paid?
MZ: It depends on what kind of bonds and who is buying them …Some will need a rate change, and they will go after we start going to the banks. But most are paid with historic funds that are already in place.
MZ: As a typical Monday morning….most news will start trickling in this afternoon
Member: Checkout major move in VND. Moved 1.5%. Huge action. Usually a flatline.
Member: Mark, it seems like Iraq is ready to go and the GCR seems months away. I think Dinar and Zim go this week and helps escort the GCR and BRICS into a new economic age
Member: According to an analytical article in the Zimbabwean newspaper Herald. “As the number of BRICS member countries increases, so will the organization’s influence on the global economy.”
Member: Brics to dump US bonds/Treasuries soon
Member: Rumor is Operation Sandman starts soon where 100 or so countries will drop their US treasuries at the same time …If that happens….the system will crash.
Member: Some people are saying the USTN needs to be released and fiat bills out of circulation before Iraq will revalue!
MZ: I was told it will go at the same time.
Member: I wonder who has the power to override the rats to create a reset?
Member: I keep hoping those rats will be arrested soon…..so far-crickets
Member: I believe the RV will take place early next year but I hope I'm wrong but talking with the COO of Chase this is what they informed me as well
Member: I don’t believe it will happen until after elections…..Would love to be wrong.
Member: I believe we are in for a wonderful holiday season, new beginnings and togetherness
Member: We are headed to the finish line and receiving our blessing. Hold on, everyone, WE WILL WIN.
Mr. Cottrell and StacieZ join the stream today. Please listen to the replay for all of their information and opinions
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
In Baghdad Palace.. Presidencies discuss electing a parliament speaker, approving laws and financial issues
10/19/2024
The President of the Republic, Abdul Latif Jamal Rashid, the Prime Minister, Mohammed Shia Al-Sudani, and the Judicial Council, Faiq Zidane, discussed the files of electing a new Speaker of the Council of Representatives, approving important laws, and continuing to finance ministries from the federal budget in Iraq.
According to a statement received by Shafaq News Agency, the attendees at the Baghdad Palace discussed the issue of the presidency of the Council of Representatives and the efforts made to expedite the resolution of this entitlement, and stressed the support of these efforts in a way that contributes to achieving the supreme interest and strengthening the role of the Council of Representatives in integration with the executive and judicial authorities.
The presidents discussed the reasons for the delay in presenting some important draft laws prepared by the presidency of the republic and the necessity of including them on the council’s agenda in its upcoming sessions, in addition to reviewing the judicial procedures taken in the context of publishing and media crimes, and monitoring cases of violations against the systematic campaign launched by some suspicious pages to target the presidencies, ministries, and state institutions, and prosecuting their perpetrators in accordance with the provisions of the law.
The meeting also discussed the government measures taken on the financial side, in order to ensure the financing of ministries and governorates from the investment budget and the regional development budget, in addition to preparing the appropriate environment and logistical requirements for the Independent High Electoral Commission, to begin its preparations for holding the parliamentary elections scheduled for next year.
The attendees stressed the importance of conducting the population census as a developmental goal for the country on which economic and social policies, plans and programmes depend.
They also discussed the overall situation on the regional scene, developments in the "Zionist aggression on Palestine and Lebanon", and the efforts made to contain these attacks and strengthen the unity of the political position towards protecting Iraq and its people from any possible escalation. LINK
