Al-Sudani To Plasschaert: The Request To End The Work Of The UNAMI Mission Comes Based On Political Stability In Iraq
Political | 11:41 - 05/26/2024 Today, Sunday, Prime Minister Muhammad Shiaa Al-Sudani stressed to the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine-Plasschaert, that the request to end the work of the UNAMI mission comes based on political stability in Iraq.
The Prime Minister's Media Office stated in a statement received by Mawazine News, "Al-Sudani received Plasschaert on the occasion of the end of her work duties, and during the meeting, he expressed the government's appreciation to Plasschaert for her efforts throughout her work in Iraq."
Al-Sudani stated, “The request to end the work of the UNAMI mission comes based on the political and security stability that Iraq is witnessing, and the progress it has achieved in several areas,” noting that “the Iraqi government continues to cooperate with international agencies affiliated with the United Nations, in accordance with the government program.” And its development goals at all levels and fields, especially with the progress achieved in the areas of economic reform and infrastructure reconstruction, and the growing capabilities of our various types of armed forces.”
For her part, Plasschaert renewed her praise for the important steps and promising initiatives presented by Iraq during the last eighteen months, especially in the areas of service provision, infrastructure reconstruction, investment, plans to mitigate environmental impacts, and reduce dependence on imported fuel. https://www.mawazin.net/Details.aspx?jimare=248651
Tomorrow, MICA (Global Regulations) are done. Then, we begin the process of implementing the QFS. It will not be done in one day, but the process begins.
“A Bank just told us they are going to move onto the QFS. First action date: June 21, 2024 before 3:00 p.m. MT. Second action date: June 24, 2024 for the remaining steps. It is important to note that this is just one bank’s timeline, but I can’t help from notice that this one is before the June 30th, 2024
lawsthat are taking effect on Crypto regulations and Stable Coins at the end of the month.”
"HKMA Updates Social Performance Module (SPM) to Drive Banking Sector Upskilling"
We have recently been talking about many banks going through logistics training and especially in their foreign currency exchange departments.
Here, we have a report that Hong Kong is Upskilling their banking practitioners.
Part of the reskilling of their banking employees deals with The Exchange Stabilization Fund. The ESF deals with three types of assets:
* The US Dollar
* Foreign Currencies
* Special Drawing Rights
The SDR is an international reserve asset. It is created by the International Monetary Fund. This particular asset class is a transitional currency. It will help stabilize and redistribute monetary volumes and access expansion to various currencies to aid in the process of moving from a World Reserve Asset to a local currency regimen backed by gold.
This process will begin to create price pressures on global currencies. Credit valuation adjustments will be a part of this process.
As of August 2023, the SDR basket of currencies consist of the following percentages:
* US dollar: 43.38
* Euro: 29.31
* Chinese yuan: 12.28
* Japanese yen: 7.59
* British pound sterling: 7.44
These percentages will shift during the transition as new alliances have been formed the last few years through new trading partners. Don't be surprised if we do not see a digital currency added to this list.
Hong Kong is an open market economy driven by supply and demand. Currently, the United States dollar is their main asset to drive their Market, but a shift change to a gold backed regimen will immediately change everything for Hong Kong and those who trade with them which is many countries.
Hong Kong has been through several digital pilot programs and completed many of their projects. They are well equipped for the new shift in our economy.
China is currently driving the gold market to new highs along with new BRICS Nations. These changes will come at a heavy price on the US Dollars' performance.
We are in a transition that has taken a lot of time, but the shifts to the global economy are beginning to take a different shape.
Increase In Sales Of The Iraqi Central Bank At The Dollar Auction
Time: 05/26/2024 13:58:24 Read: 676 times {Economic: Al-Furat News} Sales of the Central Bank of Iraq increased today, Sunday, compared to sales last Thursday, which during its auction for buying and selling US dollars amounted to 277 million.
Today, during its auction for buying and selling the US dollar, the Central Bank sold 281 million, 212 thousand and 839 dollars, which the bank covered at a base exchange rate of 1,310 dinars, for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,305 dinars per dollar in cash.
Most of the bank’s dollar sales went to strengthening balances abroad in the form of (transfers, credits) which amounted to 256 million 72 thousand and 839 dollars, an increase of 90% over cash sales amounting to 25 million 140 thousand dollars. LINK
The Iraq Parallel (black) Market & The Govt Official Price Are Currently Align, Equal To Each Other Today!!!
(they are further along with what’s happening inside of Iraq than what the news journal articles are reporting)-imo
*Dinar Rate Change is INEVITABLE
---
🇮🇶Iraq Scripted Show🇮🇶
Iraq Council of Ministers Did Approved/Amend The 2024 Federal Budget During The “extraordinary session” & Will Send It To Parliament “Within a Week”.
However Parliament Might Need An Extra “2-4 Weeks” To Approve It.👇🏾
Remember Sudani Gov’t Is Buying Time As (HOR)Parliament CANNOT Approve A Damn Thing From The 2024 Budget Without The DINAR RATE CHANGED To Give Actual Figures To The House Of Representative(HOR) For Approval.
💥💥As Ariel
@Prolotario1
Mentioned To Me ~ It's The Parallel Market That Is The FOCUS & Once It Reaches The Official Price Then We Will See The Moves Necessary For Everything Else To Fall in Place. ⬇️
(i wonder if the the now deceased Iranian President Raisi had his hands in or anything to do with the parallel/black market)🫣
*ONLY A SELECT FEW KNOWS THE EXACT DATE & TIME OF THE IRAQ DINAR REINSTATEMENT!!! THE DATE IS SET imo-
#weareclose
🗣️…LFG🔥🔥🔥
9:14 AM · May 20, 2024 https://x.com/smoothrey/status/1792544353904128404?s=46&t=CS6-i2hF8lyfSpP5nwHWvw
Specialists: Iraq Is Committed To Applying Anti-Money Laundering Standards
Posted On05-26-2024 By Sotaliraq 05/26/2024 Economic circles specialized in financial affairs welcomed what was stated in the mutual evaluation report of the Republic of Iraq, regarding Iraq’s role in combating money laundering and the financing of terrorism, and that strengthening the financial performance in Iraq represents an important step in harmony with the government’s directions aimed at attracting major investments. To the country, which requires a developed and ideal financial sector that ensures money flows in the right direction.
In its general meeting held in the Kingdom of Bahrain, the Middle East and North Africa Financial Action Task Force (MENAFATF) adopted the mutual assessment report for the Republic of Iraq, which reflects its great commitment to applying international standards to combat money laundering and terrorist financing.
The report reflects the solid system in Iraq to combat money laundering and terrorist financing. Terrorism, and the important efforts undertaken by the state to combat these crimes in accordance with international standards in this regard.
Executive Director of the Iraqi Banks Association, Ali Tariq, said: This evaluation did not come out of nowhere, but was preceded by great work and concerted efforts to adopt global performance standards that continued for years, and the Central Bank had the most important role in this matter, by working to invest risks and laying solid foundations. To combat money laundering and terrorist financing.
Tariq added that regulating the financial sector in Iraq represents the goal of everyone, in order to create a banking system capable of providing services that rise to global standards, and reflect a positive image of Iraq’s financial reality in front of the major international banks, pointing out that Iraq is in dire need of developing its performance, as we have A large, broad and growing business, and this requires the presence of a highly organized financial sector.
He pointed out that training human resources and involving them in specialized courses in the field of money laundering and combating terrorism has created Iraqi expertise that has weight within the banking system, and today it is comparable to international expertise in this important detail.
He pointed out that Iraq's presence within the international financial system represents an inevitable necessity and a goal that has begun to be achieved gradually, and with the development of our financial performance, which has become the goal of many banks, as they have included in their development plans the adoption of the best financial work systems that safeguard the performance of our banking system.
The Governor of the Central Bank, Ali Al-Alaq, said in a press statement regarding the Middle East and North Africa Financial Action Task Force (MENAFATF), that the report focuses on understanding the risks of money laundering and terrorist financing, and the effectiveness of implementing measures to combat these crimes, including international cooperation, confiscation of criminal proceeds, and procedures for combating these crimes. Investigation and prosecution.
On this occasion, he thanked Mr. Prime Minister Muhammad Shiaa Al-Sudani and Mr. President of the Judicial Council for the support they provided for the evaluation process, as well as to the members of the Anti-Money Laundering and Combating the Financing of Terrorism Council, the Anti-Money Laundering and Combating the Financing of Terrorism Office, and all judicial and governmental bodies and Central Bank formations that contributed and worked.
Over the past two years, we have provided evaluation requirements in a way that reflects the real reality of effective judicial and government procedures in developing the system to combat money laundering and terrorist financing.
Financial affairs specialist Raghad Nabil Al-Alusi said: The adoption of international standards has begun to reflect a positive image of the local financial sector, which has begun to adopt advanced systems in its daily performance and in providing services to customers, pointing out that when the evaluation comes internationally, this is an indication that Iraq is on the right path. The right thing to do is to strengthen its financial sector and move to a new stage that is compatible with global trends.
She stated that the global effort that wants to enter the Iraqi market is interested in such reports that change the view of international companies about Iraq and its financial sector, and such reports represent the presence of serious Iraqi work to develop the financial sector, and we see the presence of a great effort being made by the Central Bank under the guidance of Prime Minister Muhammad Shia Al-Sudani to improve the performance of the Iraqi financial sector. LINK
