Monday, October 28, 2024
Al-Atwani assures the Tunisian Minister of Finance the serious desire to benefit from the experience of wealth management, 28 OCT
Economy News – Baghdad
The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, on Monday, assured Tunisian Finance Minister Siham Al-Boghdiri the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development.
A statement from the Media Office of the Chairman of the Parliamentary Finance Committee, seen by “Economy News”, stated that “the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, and the accompanying delegation, met with the Tunisian Finance Minister Siham Al-Bughdiri, in the presence of the Chargé d’Afaires of the Iraqi Embassy in Tunisia, and the advanced staff in the Tunisian Ministry of Finance, to discuss ways to enhance cooperation and joint coordination between Iraq and Tunisia, with regard to the development of the financial, monetary and economic system, and to achieve the aspirations of the two brotherly peoples.
According to the statement, Al-Atwani stressed “the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development, especially since it has a pioneering experience in relying on non-oil revenues, in financing the general budget of the state.”
The statement added that “the meeting came within the framework of Iraq’s direction to maximize its non-oil resources, so we aspire to positive integration with Tunisia in this regard, in order to achieve sustainable development that requires economic stability,” explaining: “This cannot be achieved for a country that depends entirely on oil, and we cannot accept that our economy remains subject to fluctuations in oil prices.”
The statement continued, “The meeting reviewed the most important challenges facing the financial and monetary sector, how to build the general budget of the two brotherly countries, ways to diversify sources of income and address deficits, and mechanisms for expanding the tax base and estimating revenues,” sevisting “the Iraqi government’s adoption of the application of automation and digital transformation, as it is an essential step in combating corruption and improving services.”
TIDBITS FROM WALKINGSTICK, 29 OCT
Walkingstick
In the past corrupt executives and parliament people used to take advantage of the banks and the money exchange centers in the black market. Both of these issues are gone...
--Walkingstick
Sudani is slowly allowing banks to be relicensed again but he's bringing in these currency exchange centers as well.
When he relicenses a bank, he will have full control of that bank.
When he brings in these money exchange centers/banks he will have full control of them also. Sudani and the CBI watch every process of the monetary reform...
They will be giving a percentage to these centers and banks of the volume they will be bringing in. It is a symbiotic relationship where they will both benefit...
https://dinarevaluation.blogspot.com/2024/10/tidbit-from-walkingstick-26-oct.html
The Age of Mafia Flourishing in Iraq" .. People's Crises Strengthen the Positions of Currency Smuggling Gangs - Urgent, 28 OCT
The Age of Mafia Flourishing in Iraq" .. People's Crises Strengthen the Positions of Currency Smuggling Gangs - Urgent
Economic expert Nasser Al-Kanani confirmed today, Sunday (October 27, 2024), the existence of mafias exploiting crises in Iraq and the region in order to increase currency smuggling operations.
Al-Kanani told Baghdad Today, "As soon as the war in Lebanon and Gaza escalated and security tensions in the region as a whole, specialized mafias emerged that work to exploit such security conditions in order to increase the process of smuggling currency from Iraq. There are different methods for this smuggling, some of which are done through foreign imports, which take place outside the platform."
He added, "Iraq is working to strengthen its national currency, but there are those who are working to weaken this currency by making the dollar very high against the national currency, and some are working to limit large commercial transactions to the dollar exclusively, and the sale of real estate, cars, etc., and this also weakens the national currency, despite all the campaigns to prevent internal transactions in dollars."
The economic expert continued, "Iraq cannot exploit conflicts and wars to strengthen its national currency, especially since it is working hard, internally and externally, to stay away from these wars. Iraq realizes the great economic danger if it enters the circle of conflict and wars."
The war on Gaza and its consequences, which included many regions of the Middle East, dealt a blow to the global economy, especially the Israeli economy, where government spending exceeded $140 billion, and it also lost approximately $15 billion from the attack on Lebanon, according to economic experts.
Speaking about the consequences of the ongoing conflict in the region on Iraq, researcher and aviation specialist Faris Al-Jawari reveals that there are significant material losses for Iraq as a result of the recent Israeli bombing of Iran.
Al-Jawari told Baghdad Today yesterday, Saturday, that "there are losses and material damages to the Iraqi air transport sector in particular and the airport sector as a result of the recent Israeli aggression on Iran, and this impact is clear and tangible during the recent period, but the recent aggression is the most dangerous as it was the reason for a complete halt to Iraqi aviation."
He explained that "the stoppage means the interruption of financial revenues that come to the Iraqi government through the passage of aircraft over Iraqi airspace, and this is worth ($450) per aircraft, and according to the latest report of the Iraqi Airports Company, approximately (600) aircraft pass over Iraq monthly, and this means that Iraq loses (270) thousand dollars per day."
He added, "There are other material losses as a result of the planes not arriving at the airports, and their failure to arrive there means providing ground services to them, and this provision is in exchange for a sum of money, and this matter is estimated at around ($2,000), and this means that there are great economic damages and losses as a result of the Israeli aggression on Iran and the general security situation in the region."
The aviation specialist confirmed that "Iraqi aircraft are the ones that are directly affected, as most companies were refusing to land at Iraqi airports, and this means that the major losses are incurred by Iraqi Airways, and there is also a service impact at the airports on passengers through the suspension of flights, and this disrupts the work of many passengers and it has economic impacts as well, of course."
Israel launched a series of air strikes on Iran early Saturday morning. Four hours after the start of the operation, which Tel Aviv called "Days of Response," the Israeli army announced that it had completed the attack on military targets in Iran, that all of its aircraft that carried out the attack on Iran had returned safely to their bases, and that the operation had achieved all of its goals. link
TIDBIT FROM MNT GOAT, 28 OCT
Mnt Goat
...the agreements and paperwork are all nearly completed to set the reinstatement in motion.But...
we know this is not going to happen until the CBI is ready.
The CBI is not ready until they first secure the banks, the stock market, provide security (insurance) and then begin rebuilding the economy...I must mention this too as it is a factor.
They will not be ready until the US Treasury and the Federal Reserve gives them the green light.
Economist: Lowering interest rates encourages investment but carries caveats, 28 OCT
Economist: Lowering interest rates encourages investment but carries caveats
Economic expert Salah Nouri confirmed today, Sunday, that reducing the interest rate is one of the main tools of monetary policy used by the Central Bank to influence the economy, whether by increasing or decreasing it according to inflation or deflation rates.
Nouri explained in his interview with {Euphrates News} that “reducing the interest rate encourages individuals and companies to borrow for productive projects, which leads to stimulating the economy,” adding: “Lower interest makes the cost of loans lower, and thus encourages consumption and investment.”
Nouri pointed out that "reducing the interest rate reduces the cost of production and perhaps the prices of imported goods, which leads to a reduction in selling prices," but he warned that "reducing the interest rate may push depositors to withdraw their deposits due to the decrease in returns, and resort to alternative investments such as gold."
He added: "It is necessary for the Central Bank to monitor the money market and commodity prices to measure the level of c: Al Furat News}inflation, especially since facilitating borrowing may affect the elasticity of demand versus supply." link
TIDBITS FROM MILITIAMAN, 28 OCT
Militia Man
Article: "Bold step changes the liquidity map in Iraq"
Quote: "The Central Bank of Iraq decided to reduce the internet rate and activate securities...
Analysts expect an increase in reliance on the Iraqi dinar as a base currency...It's expected the activation of a new dinar instrument will contribute to enhancing local liquidity..." A base currency is going to make you guys really excited.
What is a base currency?
Base currency is the first currency in a pair of currencies being traded in the Forex Exchange Market.
The second currency is called the quote or counter currency ...They're talking about it's not the US dollar that the base currency.
It's going to be the Iraqi dinar...I'm really pumped and excited...! If that doesn't tell you these guys are gearing to go international I don't know what does... Powerful information!
150,000 Kurdish employees receive their salaries digitally via the “Hisabi” system , 28 OCT
150,000 Kurdish employees receive their salaries digitally via the “Hisabi” system
The Financial System Administration "Hisabi" in the Kurdistan Region announced, on Sunday, the expansion of the scope of its digital operations so that the number of beneficiaries of the system reached 150 thousand employees during the past week.
According to the official website of the "My Account" system, which Shafak News Agency has reviewed, the number is increasing monthly and 150,000 employees have received their salaries through the system, which reflects the continuous growth in the adoption of the system to facilitate the process of disbursing salaries through digital bank accounts.
The system is expected to include all eligible employees in the region by the end of next year, as they will be able to receive their salaries directly through their own bank accounts.
This expansion comes within the framework of the Kurdistan Region's efforts to enhance the digital infrastructure and facilitate financial transactions for citizens. link
TIDBITS FROM FRANK26, 28 OCT
Frank26
The specialized courses that are being taught to these people to run these exchange centers so that the [Iraqi] citizens can go and trade in their 3 zero notes, it's done.
It's the only reason why they're telling you about it...It's not a secret.
Sudani cleaned up the swamp.
All of a sudden all of the banks that were stealing the Iraqi dinar, American dollar and profiteering illegally...he cleaned it all up.
I told you we needed the CBI floor to be so spotless that you could eat off of the floor. The United States Treasury is on the second floor of the new CBI building.
It's spotless. All the bank that [were stealing] have been shut down.
All the political parties that had power in the media and in the banking structure of Iraq are slowly being whittled away.
Kurdish delegation in Baghdad to discuss the census, 28 OCT
Kurdish delegation in Baghdad to discuss the census
Shafak News / A delegation from the Kurdistan Regional Government arrived on Monday in the federal capital Baghdad to discuss the census file scheduled for November 20.
The Kurdistan Ministry of Planning said in a statement to Shafak News Agency that “a Kurdish government delegation consisting of competent authorities in the Ministry of Planning arrived this afternoon in Baghdad.”
She added that “the visit comes with the aim of discussing the issue of the general population census in Iraq, which will include the governorates of the Kurdistan Region as well.”
The general census process in Iraq is scheduled to start on November 20.
https://www.shafaq.com/ar/كوردســتانيات/وفد-كوردي-في-بغداد-للتباحث-حول-التعداد
Coffee with MarkZ. 10/28/2024
NADER FROM MID EAST CC NOTES HIGHLIGHTS, 28 OCT
MILITIAMAN CC NOTES HIGHLIGHTS
Summary
Iraq has attracted $100 billion in investments over two years, including a $5 billion deal with Egypt’s Eli Electric to develop industrial cities.
Highlights
- 💰 Iraq secures $100 billion in investments over two years.
- 🤝 $5 billion agreement signed with Egypt’s Eli Electric for industrial cities.
- 🏗️ Focus on advancing industrial and educational infrastructure.
- 📈 Joint investment fund established to promote smart industry and education.
- 🌍 New economic city aims to attract local and international investors.
- 📍 Potential locations assessed in Central and Southern Iraq.
- 👷♂️ Project expected to create jobs and diversify the economy.
Key Insights
💵 Significant Investment Growth: Attracting $100 billion signals strong investor confidence in Iraq’s economy, paving the way for future growth.
🇪🇬 International Collaboration: The partnership with Egypt’s Eli Electric underscores Iraq’s commitment to international cooperation in economic development.
📚 Focus on Education and Industry: Prioritizing educational infrastructure alongside industrial development indicates a long-term strategy for sustainable growth.
💡 Innovation through Smart Industry: The establishment of a joint investment fund aims to nurture advanced technologies, which could enhance Iraq’s competitiveness.
🌆 Economic City Development: The plan for a new industrial city highlights Iraq’s strategic approach to creating hubs that attract diverse investments.
🗺️ Geographic Diversification: Assessing locations in Central and Southern Iraq aims to ensure equitable economic benefits across regions.
📈 Job Creation Potential: The project is expected to generate employment opportunities, contributing to economic diversification and stability.
“One of the most difficult sessions”.. 4 important laws on the parliament’s table today, 28 OCT
“One of the most difficult sessions”.. 4 important laws on the parliament’s table today
The Legal Committee of the Iraqi Parliament will hold two crucial meetings, one on Saturday and one on Sunday, to make it easier to pass three controversial laws.
“The Parliamentary Legal Committee will meet this evening to review the readiness of the General Amnesty Law, Personal Status Law, and Property Restitution Law, all listed on the agenda for Sunday’s session,” says committee member Aref Al-Hamami.
He also said that the committee will meet again on Sunday morning to finish these bills before the session, with the goal of passing them quickly.
Al-Hamami said that there is a lot of “political and parliamentary consensus” to pass these laws during the session on Sunday, which shows that everyone is working together to get them passed.
Personal Status Law The Personal Status Law, which was passed by Prime Minister Abdul Karim Qasim in 1959, applies to all Iraqis, regardless of their religious affiliation. However, Iraqis would be able to select whether Shia or Sunni law would govern personal status matters like marriage under the proposed amendments.
The amendment says that religious opinions will take precedence if parties in a family case disagree about which legal source applies. This modification gives religious texts more weight than current civil law.
In addition, the amendments mandate that the State Council and the Shia and Sunni Endowment Councils jointly draft a comprehensive code of religious rulings on personal status issues. Within six months of the law’s passage, this code would need to be presented to Parliament for approval.
Personal status courts’ approval of Muslim marriage contracts is another important provision. Before recognizing any contracts, these courts must ensure that they meet both religious and legal requirements.
Within the Coordination Framework, Shia voices argue that the amendments address family-related issues and are constitutional. Political parties and activists from civil society, on the other hand, have criticized the changes, calling the current law the “best in the region.”
Rivals likewise guarantee the alterations license youngster marriage, deny spouses of provision and authority freedoms, and supplant common regulations with organization explicit strict texts. They argue that this change hinders the advancement of women’s rights in Iraq.
Since its first enactment in 2008, when it was passed alongside the General Budget Law and the Law of Governorates Not Incorporated into a Region, the General Amnesty Law (GAL) in Iraq has been a key component of political compromises. This was a sign of a political deal in which each major faction—Shia, Sunni, and Kurdish—got a law that was good for them.
A second version of GAL was enacted in 2016 as part of a political agreement that was primarily motivated by Sunni demands. The fact that it was voted on alongside the “Popular Mobilization Authority Law” and the “Baath Party Ban Law” reinforces the idea that the law is the result of political concessions. Since then, Sunni blocs have made GAL a major demand, particularly during negotiations for the “State Administration” coalition, which brought together Shia, Sunni, and Kurdish parties to form the current government headed by Prime Minister Mohammed Shia al-Sudani.
The law faces opposition within the Shia Coordination Framework due to concerns that it could permit the release of individuals convicted of terrorism, murder, and other serious crimes, despite the fact that it is an essential requirement for Sunni participation. Officials have proposed amendments to exclude terrorists, those involved in human trafficking, drug offenses, and crimes that threaten national security in order to address these concerns.
Law on Property Remedies The goal of the proposed law, which is supported by the five Kurdish blocs that make up the Iraqi Parliament, is to overturn decisions made by the Baath Party about agricultural lands in areas that are covered by Article 140 of the Iraqi Constitution. In the 1970s, these decisions resulted in the confiscation of Kurdish and Turkmen farmers’ lands, which were then redistributed to Arab settlers, most notably in Kirkuk. The bill aims to correct the ethnic disparity caused by the Baathist regime’s policies and return these properties to their original owners.
The Kurdish blocs have worked together to pass the law, meeting with Shiite and Sunni groups multiple times to make sure it moves forward. Notably, representatives from Kurdistan met with the Chairman of the Government Committee for the Implementation of Article 140, Hadi al-Amiri, to obtain support and thwart opposition from other parliamentary blocs.
" I THINK WE'RE GETTING PRETTY CLOSE" BY @ERADORADA, (ENGLISH & SPANISH), 28 OCT
@LAERADORADA
Dr. Tom: A few days ago we were told that the final presentation has been made to the world courts, the US Treasury and the Department of Defense and the first wave of funding will arrive sometime this month.
They had a problem last week with the cabal who we were told removed some of the gold, but they got caught.
The release codes will be presented next week and they are testing the systems with the whales.
Again, it may happen next week, but I don't think anything will happen until after the election. The process will begin, there will be no delays, I know we all want it now, but I don't see this happening until after the new president comes on the scene in January, but hopefully much sooner.
I don't think this will happen past January. I don't really see it now, but I think we're getting pretty close.
Jane: Yes, we will stay on guard and in the meantime we will maintain our vibrations and the high frequency and in addition to really connecting with our higher self, our Gods and goddesses that we are, that will help energetically in everything that happens outside of us, in addition to what what happens inside us.
So thank you very much Dr. Tom, thanks for the update, we really appreciate it and we'll talk to you again soon.
Dr. Tom: Thank you. OK.
Jane: Do you have anything to add Zorra about VR and the elections?
Zorra: No. But know that it is already done. Go out and find the house you want to buy and claim it as yours. Find the car you like, place your hands on it and claim it as yours. This way you will move your energies and you will be able to have it.
Translated by Gabi for
@Era54321Golden
SPANISH
@LAERADORADA
Dr. Tom: Hace unos días atrás nos dijeron que se hizo la presentación final ante los tribunales mundiales, el Tesoro de EE. UU. y el Departamento de Defensa y la primera ola de financiación llegará en algún momento, este mismo mes.
Tuvieron un problema la semana pasada con la camarilla que según nos dijeron, retiraron parte del oro, pero los atraparon.
Los códigos de lanzamiento se presentarán la próxima semana y están probando los sistemas con las ballenas.
Una vez más, puede suceder la semana que viene, pero no creo que suceda nada hasta después de las elecciones. El proceso comenzará, no habrá demoras, sé que todos lo queremos ahora, pero no veo que esto pase hasta después que el nuevo presidente entre en escena en Enero, pero ojalá que sea mucho antes.
No creo que esto pase de Enero. Realmente no lo veo ahora, pero creo que nos estamos acercando mucho.
Jane: Sí, nos quedaremos de guardia y mientras tanto mantendremos nuestras vibraciones y la frecuencia alta y además de conectarnos realmente con nuestro ser superior, nuestros Dioses y diosas que somos, eso ayudará energéticamente en todo lo que sucede fuera de nosotros, además de lo que sucede en nuestro interior.
Así que muchas gracias Dr. Tom, gracias por la actualización, lo apreciamos mucho y hablaremos con usted pronto nuevamente.
Dr. Tom: Gracias. De acuerdo.
Jane: Tienes algo que agregar Zorra sobre la RV y las elecciones?
Zorra: No. Pero sepan que ya está hecho. Salgan a buscar la casa que desean comprar y reclámela suya. Busquen el automóvil que les gusta, coloquen sus manos sobre él y reclámelo suyo. Así moverá las energías y podrá lograr tenerlo.
Traducido por Gabi para
@Era54321Dorada
Rafidain: Selling the dollar to travelers at $3,000 and at the official price, 28 OCT
Rafidain: Selling the dollar to travelers at $3,000 and at the official price
Today, Monday, the method for selling dollars to travelers was announced by Rafidain Bank.
Dinaropinions.com was provided with a statement from the bank stating that “the traveler makes an electronic reservation through the bank’s website, and the reservation form is filled out 72 hours before the date stated on the travel ticket after completing the reservation procedures and confirming the date,” implying that “the traveler then goes to one of the branches for the purpose of depositing cash in dinars in the branch exclusively.”
“The dollar will be received at the bank’s outlet inside the Babylon Hall at Baghdad International Airport exclusively, and the dollar will not be delivered to the traveler until after the travel procedures have been completed and the passport stamping has been completed,” the statement added.
“The branches designated for depositing the Iraqi dinar are the Karkh branches (Al-Mansour, Al-Rafei, Al-Ma’rifah, and Al-Muheet), the Rusafa branches (Al-Senak, Al-Firdaws, the main branch, Palestine Street, the officers’ houses, and Al-Waziriyah,” he continued.
He noted that “a valid Iraqi passport with a valid visa or residency, a civil status ID, a nationality certificate or unified national card, a residence card, and a valid travel ticket are the requirements for selling the dollar.”
MILITIAMAN CC NOTES HIGHLIGHTS, 28 OCT
MILITIAMAN CC NOTES HIGHLIGHTS
Summary
Iraq’s political landscape faces pressure as key laws are delayed, while financial reforms aim to stimulate the economy and address exchange rate issues.
Highlights
- 🇮🇶 Iraq’s Prime Minister directs contracts in Euro, indicating a significant shift in currency use.
- 📜 Parliamentary legal committee discusses four key laws aimed at citizen needs.
- 🔄 Interest rates reduced from 7.5% to 5.5% to promote economic growth.
- 📉 Iraq reportedly lost $23 billion in project value in a month, raising concerns.
- 💼 New hybrid monetary policy introduced by the Central Bank for economic stimulation.
- 💵 Analysts expect the Iraqi dinar to become a base currency, shifting international dynamics.
- 📈 Focus on local investments and job creation to combat inflation and revitalize the economy.
Key Insights
- 🌍 Currency Shift: Iraq’s acceptance of Euro for contracts marks a significant move towards diversifying its economic relationships, potentially stabilizing its currency amid ongoing pressures.
- 📊 Legislative Challenges: The delay in passing crucial laws reflects the ongoing political struggles, which could hinder economic reforms and public trust in governance.
- 💰 Interest Rate Strategy: The Central Bank’s decision to lower interest rates aims to encourage borrowing for investment, addressing unemployment and stimulating economic activity.
- ⚠️ Financial Losses: The reported $23 billion loss in project value underscores the urgent need for effective governance and swift action in infrastructure development.
- 🔄 Hybrid Monetary Policy: The introduction of a hybrid monetary policy signals a proactive approach by the Central Bank to manage liquidity and inflation, aiming for economic stability.
- 📈 Iraqi Dinar as Base Currency: The expectation of the dinar becoming a base currency suggests a potential shift in international trade dynamics, enhancing Iraq’s economic sovereignty.
- 🏗️ Investment Focus: The emphasis on local investments and job creation is crucial for long-term economic health, fostering resilience against external financial pressures.