"10 Cheap Stocks With Safe Dividends", 4 AUGUST

 It’s a dividend stock investor’s worst nightmare: That dividend that he or she has been relying on gets cut.

Dividend investors who own Hanesbrands HBI stock know how that feels: After a tough 2022, management decided to prioritize debt reduction and, as a result, entirely eliminated the company’s quarterly dividend in February 2023.

“It’s really critical to be selective when it comes to buying dividend-paying stocks and chasing yield,” explains Dan Lefkovitz, a strategist for Morningstar Indexes. “Looking for the most yield-rich areas of the market can often lead you into troubled areas and dividend traps—companies that have a nice-looking yield that is ultimately unsustainable. You have to really screen for dividend durability, reliability going forward.”

How to Find Stocks with Safe Dividends

What metrics should investors pay attention to when seeking stocks with durable dividends? David Harrell, editor of Morningstar DividendInvestor, suggests focusing on companies with management teams that are supportive of their dividend strategies. He also says to examine a company’s payout ratio and favor companies with competitive advantages, or economic moats.

“A moat rating does not guarantee dividends, of course, but we have seen some very strong correlations between economic moats and dividend durability,” says Harrell.

Lefkovitz argues that “distance to default” is another useful health-screening tool for dividend payers.

“Distance to default is a measure of balance sheet strength. It gauges the likelihood of bankruptcy. It looks at leverage and volatility and gauges whether the sum of a firm’s assets are at risk of falling below its liabilities. We found that the wider the economic moat and the better the distance to default score, the less likely for a firm to cut its dividend,” he  says.

Given ongoing economic uncertainty and market volatility, investors might consider adding cheap, quality dividend stocks to their portfolios. Quality companies have the financial stability to maintain their dividends during questionable economic periods, and price risk is reduced when investors can buy the stocks of these companies for less than what they’re worth.

10 Cheap Stocks to Buy With Stable Dividends

To find undervalued stocks with safe dividends, we turn to the Morningstar Dividend Yield Focus Index. The dividend stocks on this list are among the index’s constituents, and they’re also cheap, trading well below our fair value estimates as of Feb 10, 2023.

1) Verizon Communications VZ

2) Cisco Systems CSCO

3) Comcast CMCSA

4) Medtronic MDT

5) Gilead Sciences GILD

6) Blackstone BX

7) Public Service Enterprise PEG

8) International Flavors & Fragrances IFF

9) Kellogg K

10) Garmin GRMN

Here’s a little bit about each stock along with some key Morningstar metrics about each. All data is through Feb. 10, 2023.

Verizon Communications

• Morningstar Rating: 5 stars
• Economic Moat Rating: Narrow
• Forward Dividend Yield %: 6.52
• Industry: Telecom Services

Verizon is clearly a cheap dividend stock, trading a whopping 30% below our fair value estimate of $57. We think the market is overly focused on Verizon’s challenges to add postpaid consumer wireless customers, says Morningstar director Mike Hodel. Hodel expects margins and cash flow to move higher as network projects are completed and the promotional environment eases. This dividend stock offers the highest forward yield on our list; Hodel observes that 50%-60% of Verizon’s free cash flow is committed to the dividend.

Cisco Systems

• Morningstar Rating: 4 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.22
• Industry: Communication Equipment

We think Cisco stock is worth $54 per share; shares currently trade about 12% below that. The dominant force in enterprise networking, Cisco maintains leading market shares across switching, routing, and wireless access, observes Morningstar analyst William Kerwin. Given our confidence in Cisco’s leadership, we recently upgraded our Morningstar Economic Moat Rating on the company to wide from narrow. Kerwin calls the company’s shareholder returns program “excellent,” and the company maintains a growing dividend at a high payout ratio.

Comcast

• Morningstar Rating: 5 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.02
• Industry: Telecom Services

Comcast is a cheap stock by our measures, as shares trade 36% below our $60 fair value estimate. While broadband customer growth is anemic and NBC Universal is challenged, we think Comcast is well positioned to limit broadband share losses and enjoy solid pricing power, says Hodel. Comcast instituted a dividend in 2008 and has increased its payout 17% annually, on average, notes Hodel—and we think the balance sheet is sound and shareholder returns are generally appropriate.

Medtronic

• Morningstar Rating: 4 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.25
• Industry: Medical Devices

Medtronic stock trades 25% below our $112 fair value. The largest pure-play medical device maker is a key partner for its hospital customers, thanks to its diversified product portfolio aimed at a wide range of chronic diseases, explains Morningstar senior analyst Debbie Wang. The company’s plans to spin off its patient monitoring and respiratory innovations businesses will only help the company pivot more toward faster-growing markets, she adds. Medtronic has raised its dividend for 45 consecutive years.

Gilead Sciences

• Morningstar Rating: 4 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.46
• Industry: Drug Manufacturers—General

Gilead stock is undervalued, with shares trading about 11% below our fair value estimate of $97. The company generates outstanding profit margins with its HIV and HCV portfolio, and its portfolio and pipeline support a wide economic moat, says Morningstar strategist Karen Andersen. The company has steadily increased its dividend over time, with a payout ratio around 50%, which Andersen calls “reasonable.”

Blackstone

• Morningstar Rating: 4 stars
• Economic Moat Rating: Narrow
• Forward Dividend Yield %: 4.72
• Industry: Asset Management

Blackstone stock trades 19% below our fair value estimate of $115. One of the world’s largest alternative asset managers, Blackstone has built a team with decades of industry experience revitalizing companies through cost-cutting, acquisitions, or other strategic initiatives, says Morningstar strategist Greggory Warren. Diversification and solid fundraising helped the firm weather the downturn in the equity and credit markets, he adds. We expect the firm to continue to favor dividend payouts versus share repurchases.

Public Service Enterprise Group

• Morningstar Rating: 4 stars
• Economic Moat Rating: Narrow
• Forward Dividend Yield %: 3.56
• Industry: Utilities—Regulated Electric

Public Service Enterprise Group stock currently trades 7% below our $65 fair value estimate. The company has transitioned to a predominantly regulated transmission and distribution utility, explains Morningstar strategist Travis Miller, with the company’s regulated distribution and transmission utility in New Jersey expected to contribute 90% of consolidated earnings. He adds that the company’s dividend and stock repurchase strategies are sound. New CEO Ralph LaRossa is selling the company’s offshore wind investment, which should free up future capital for onshore infrastructure investment, says Miller.

International Flavors & Fragrances

• Morningstar Rating: 5 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.42
• Industry: Specialty Chemicals

International Flavors & Fragrances stock currently trades 32% below our $140 fair value estimate. While we expect strong long-term growth for the largest specialty ingredients producer, we think 2023 will be rough as cost inflation and an economic slowdown will lead to lower volumes, says Morningstar strategist  Seth Goldstein. That being said, we view the company’s balance sheet as sound and its dividend appropriate.

Kellogg

• Morningstar Rating: 4 stars
• Economic Moat Rating: Wide
• Forward Dividend Yield %: 3.49
• Industry: Packaged Foods

Kellogg stock is undervalued, trading 17% below our $82 fair value estimate. Kellogg plans to spin off its North American cereal and plant-based alternative businesses, which may allow the firm to unlock a higher multiple for its faster-growing snack business, argues Morningstar director  Erin Lash. Kellogg has shrewdly reorganized its North America operations to leverage its scale and more effectively allocate resources toward its highest-returning opportunities, she adds. We expect Kellogg to increase its dividend at a mid-single-digit pace annually, with the payout ratio hovering around 50% on average.

Garmin

• Morningstar Rating: 4 stars
• Economic Moat Rating: Narrow
• Forward Dividend Yield %: 3.04
• Industry: Scientific & Technical Instruments

Garmin stock looks undervalued by our measures, as shares trade 31% below our $140 fair value estimate. Garmin specializes in GPS-enabled hardware and software for recreational and defense needs and has carved out a narrow moat thanks in part to switching costs, notes Morningstar analyst Julie Bhusal Sharma. The company’s balance sheet is sound, with a healthy cash cushion and a lack of debt. Garmin’s dividend has increased at a compound annual growth rate of 48% during the past three years, she adds.

What Is the Morningstar Dividend Yield Focus Index?

A subset of the Morningstar US Market Index (which represents 97% of equity market capitalization), the Morningstar Dividend Yield Focus Index tracks the top 75 high-yielding stocks that meet our screening requirements for quality and financial health.

How are the stocks selected for the index? Only securities whose dividends are qualified income are included; real estate investment trusts are tossed out. Companies are then screened for quality using the Morningstar Economic Moat and Uncertaintyratings. Specifically, companies must earn a moat rating of narrow or wide and an Uncertainty Rating of Low, Medium, or High; companies with Very High or Extreme Uncertainty Ratings are excluded. The index includes a screen for financial health using a distance-to-default measure, which uses market information and accounting data to determine how likely a firm is to default on its liabilities; it is a measure of balance-sheet strength.

The 75 highest-yielding stocks that pass the quality screen are included in the index, and constituents are weighted according to the total dividends paid by the company to investors.

How to Find More Cheap, Safe Dividend Stocks

Investors who would like to find more undervalued stocks with stable dividends can do the following:

• Review the full list of dividend stocks included in the Morningstar Dividend Yield Focus Index. Those dividend stocks with Morningstar Ratings of 4- or 5-stars are undervalued according to our metrics.
• Use our new Morningstar Investor Screener tool to find dividend stocks that meet your specific definition of “undervalued.” You can search for stocks based on their dividend yields, valuation measures such as price/earnings, and more.
• Build a watchlist of dividend stocks in Morningstar Investor and create a view that allows you to easily follow the valuations, ratings, and dividend yields of the stocks on your list.
• Watch our dividend stock video series, hosted by David Harrell, for new dividend-stock ideas to consider.
• https://www.morningstar.com/stocks/10-cheap-stocks-with-safe-dividends
  

BRUCE'S BIG CALL, 4 AUGUST

Bruce’s Big Call Dinar Intel Thursday Night 8-3-23   REPLAY LINK   Intel Begins   1:18:18

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHPKi

Welcome everybody to the big call tonight - It is Thursday, August 3rd and you're listening to the big call. Now, last Tuesday two nights ago, We actually did reach 191 countries - And we had just under 20 million live listeners. Tonight my team is saying that they're gonna get the call out to 198 countries - so we won't know how many that is probably tomorrow or the next day, but that's, that's really I'm encouraged and I'm excited that the big call is reaching just about every country on the globe. So that's a good thing. And Iraq, we are open to go into Iraq tonight. So that's good. Welcome Iraq and all these other countries out there. That's wonderful. All right Let's go into where we stand right now, from an Intel point of view on the blessing - we're getting information that is suggesting first of all, that they had intended to release this yesterday to us. That was the plan to let that go. It didn't happen, because it appears that there may be three things that still are needing to be done. And I said okay, what are the three things to our best knowledge and maybe, maybe one or more of these is already done. But the three things appear to be one, the political change that we've talked about - that's one thing because the elders want that to happen before all the funds are released for us. Number two, we need the Emergency Alert System and the Emergency Broadcast System or to be merged into one - one system EAS and EBS to get out the information that needs to be put out. And that could be in the form of what we would call disclosure. Okay. That was number two. Number three was the announcement of NESARA and internationally for GESARA, but for us right now for what we need - we're looking for the announcement of and a little bit of information about NESARA. Now, we do understand that some parts of NESARA and the debt jubilee is to start really right after we get notified and set our appointments and start our exchanges. We have heard that the - remember we talked about restitution and reclamation allowance - That money that is that is ours - That was traded on our birth certificates or marriage licenses, our divorce decrees, our death certificates, all of that money our tax money since we started – really - since we started working - of the interest that we pay on credit cards on home mortgages, on bank loans, personal loans, all of that - All of that, holding about 17 different variables on that. Those monies are to come back to us - And this is what I heard as of yesterday - Between the time we start our exchanges, and I'll get to that in a moment - time we start the exchanges, and between that time and the middle of the month of August, which I'm calling August 15th . So that is really going to be good. That's going to be a lot of money for a lot of people that are not even involved in the currencies, especially people 60 years and older that can opt to take that as a one time payment, a lump sum payment. And I don't know how we're going to elect to do that yet. I've yet to find that out. But we know that for those that are getting Social Security, supposedly, that restitution or reclamation allowance would be paid into that account. Where you normally get your Social Security per month. So we'll look into that. Find out if we have another call. I'll try to enlighten you on that. I'm not sure we will, though, based on the information that we have so far. As far as the timing. We only track the bondholders to see when are they going to get their notifications, which comes out by email of what their liquidity and access to those funds. When will they access their funds those funds in their accounts?. The asnswer appears to be right now for the bondholders Monday or Tuesday – Monday or Tuesday. Now, what about us? We're sort of running like a shotgun start with two or three bondholders when would we get notified. The latest information I have so far this afternoon is pointing toward Monday or Tuesday for notifications and Tuesday, Wednesday, or exchanges Monday or Tuesday for notifications - Tuesday or Wednesday for our exchanges and redemption of Zim to begin. So rates are changing at the banks every day with new rates with the trading that's going on globally. We know that the BRICS nations have basically dumped the USD Fiat dollar that we had in this country for a long time. – and that is a good thing - And we know that we are in control of the global financial system – okay - through the quantum financial system and a starlink satellite system. And we also know that as a this is as of midnight two nights ago that the black hats in the military are no longer an issue, but a longer problem that all the military is under the proper leadership of our real commander in chief. And you guys should know by now that really is and we are in full control finally, of HAARP. You guys go ?? HAARP What is that? What do you mean like a harp? No, HAARP and I can't tell you what it stands for exactly. (High-frequency Active Auroral Research Program) INFO LINKS https://duckduckgo.com/?q=haarp+project&t=chromentp&ia=web https://www.britannica.com/topic/HAARP https://anomalien.com/haarp-the-pentagons-ultimate-weapon-whistleblowers-says/ But this is a system that was created to help control the weather and provide rain and drought stricken areas or farmers and so on to produce crops where they were losing crops, not only here in the US, but other parts of the world. Well, it got taken and taken over from its rightful use and put in the wrong hands. And that's been many years now and that's one reason we've had so many hurricanes in Florida, and back to back hurricanes like a week apart. We've had all these weather phenomena that needed that would manmade through the system, and it was the Cabal that was running it – Now we are in full control of it. And hopefully now it could be used when necessary to provide rain in around stricken areas. You know, I would hope that it's used properly and I know that it will be so that's a really big deal. We’ve got the Quantum Financial System -. We've got all the military on the same page. We've got HAARP – And so now we just need to get - we just need to make sure that we have - and I don't know that we haven't but I was supposed to find out - Obviously after the call tonight. Like a lot of things happen. I'll get that information after the call is over. But I believe by tonight we should have the integration of the the Emergency Alert System with the Emergency Broadcast System. ************************ And I would say our new currency needs to be announced as well as part of NESARA - our new asset backed currency. They may not call it gold backed. That's right. The point is its the USN and it's been trading digitally - And now physically - it needs to be in the banks. - It has been for months, but it needs to be brought out so the public is aware. Hey, we have a new asset backed currency our new money does asset backed and that needs to come out and I believe that as part of this and our political turnover that we're looking for, needs to be manifest and and talked about as well. That's what we're looking to have happen here. And if we're going to get started Monday, Tuesday a notification does need to happen by the need to happen. I had a call in the middle of Bob segment that led me to believe that some things that were looking to happen may happen already today. So I'll be checking on that to see what I can learn about what actually may have transpired in the way of those areas by just discussed. So they want us in and out of the redemption center in 40 minutes. They want us to go in if you're married with a spouse, if not you go in. You can go in with an attorney And you can also go in with a close family friend or advisor If necessary, but you would need to let them know that you're through the call center using the toll free number. And yes, we will be using toll free number I think it might just be one 800 number that we use. And we'll be able to set an appointment based on the zip code as to what redemption center would be the one that we want to use, whether it's a zip code where we live, where we work, or another area where we just know what the zip code is because there's a redemption center there. All Zim goes through the Wells Fargo monitored redemption centers. Now when the redemption centers are closed in about two weeks, when there might be some stragglers that might have zim or found that they had zim and didn’t know it. Those people would go to Wells Fargo Bank to redeem that Zim after the redemption centers are closed. So keep that in mind. But if you're smart, you will go ahead and use toll free number - Set your appointment. Give yourself enough time to get there. Don't be over 10 minutes early. Do not get there more than 10 minutes before your appointment time. And that way you'll be in good shape. You'll get there and you'll be able to do your do your appointment and get in and get out of there in 40 minutes. That’s an amazing feat. This is not going to be a touchy feely, this is not going to be a warm and fuzzy. This is going to be getting this business done. This is good. They know who you are, for the most part if you bought currency they already know - and if you bought it they have your email - they've got your email, your phone number, your name, your social, they've gotten a lot of KYC - Know Your Customer - all you have to do show ID - which use a passport or driver's license when you don't have to have a utility bill. You know it shows your street address be live. And that way that way they'll say Hey, okay, this is this person. And then boom after that. It's going to be quick. The proofing up your currency, counting up verifying it on the Delarue Machine. You'll be basically in front of a group of three people. Three people If you have bonds – There’s a fourth person will be dealing with sheet bonds, like German bonds, Chinese bonds, railroad bonds, all that stuff. Most of us have currency and a lot of us have the Zimbabwe dollar currency which is a bearer bond. Okay. We'll be presenting three people. And one of those people already knows everything basically that they need to know about you. And then the you're going to basically go through and proof up your currency. They're going to verify we'll be setting up an account for you with Wells Fargo, and then you'll be also setting up a quantum financial system account QFS account with what I call a quantum card, which is a way a cue card and that's the way to take funds that are put into your quantum account and move them into your primary or secondary Wells Fargo account. They want you to have no more than three different banks that will be connected to your quantum account. Overlook no more than three banks so you'll be able to move funds into one two or three banks as needed. Okay, so you got five, eight minutes to do a presentation. Make sure you have a presentation and especially for world class, the best form And then once you get on your presentation you finished that you'll be getting your card done - your credit debit card that you can use on your Wells Fargo primary or secondary account to get that - and you'll be getting a book a 55 page book unless it's increased on who not to contribute money to send money to look at that go through that. And then also want to they probably will give you a two or three page saying on the benefits or the perks - the perks that the bank would give you by staying with them. And they'll be just free deals or things that could be pretty interesting. We'll have to see what they look like. We'll be able to afford anything we want. But some of these might be nice. Alright, so then they're going to kick you out. And then when you walk out of there, you can take a deep sigh of deep breath and start smiling. Oh, don't forget they're gonna give you a cue phone. No, they won't tell you anything about it. They're just gonna send you out with it. and it also sent give you a certificate up to $1,000 that you can use to purchase a new laptop at one of eight different retails stores. That's a lot. I can barely say everything that's going to happen in 40 minutes. you're going to be doing everything that you are convey on us or any kind of celebration, celebration, assume that we know of. That's a lot. I can barely say everything that's going to happen in 40 minutes. You're going to be doing everything that and listen guys, this happens. Hopefully it will be Monday /Tuesday, turning into Tuesday, Wednesday for exchanges - Be very diligent and careful about celebration. Remember, you're not supposed to you know you got to keep your mouth shut on this thing. You're not to disclosure – you’re going to be under an NDA for at least 30 -60 days and a nondisclosure agreement. So you're not going to discuss with anybody. You can't talk about rates. The only people you can exclude from your NDA are people that you let them know, on a sheet that you've typed out, your project partner, maybe maybe an attorney, maybe a family member, certain people that kind of know about it, that you would want to share certain aspects of the information with that are exclusions to the NDA. That's an addendum that you would have to bring a sheet say these people might be two or three could be six, seven or eight, these people I’m excluding from my NDA, and they turn that off and get their signature on it. And then you know, they would approve that basically they're proving that - So that's what we're gonna say. Now, it is interesting that Tuesday is the eighth of August. And as you guys know, is a big number when it comes to China. And it could very well be that that is either - either the day that the notifications go out to us, or it could be the first day of our exchange. So it's like Monday, Tuesday or Tuesday, Wednesday, depending on how you look at this. Alright, so that's pretty much everything I wanted to say to everybody tonight. Thank you So that's really what I wanted to say to you guys. I think things are happening and bondholders are looking forward to being paid. We're looking forward to being notified you will get a toll free number to us to call and set your appointment. So if anybody says something different, They're not really up to speed. All right. so let's pray the call out. let's stay in prayer and faith for this and let's speak it into existence as we walk and do everything that we're doing on a normal life.

Nader from the mid east peril market explanation IQD exchange bank and o...

"CBI REVEALED NEW DECISIONS THAT WILL BE ISSUED NEXT WEEK TO REDUCE PRICE OF USD", 4 AUGUST

DINAR IRAQ & DONG VIETNAM

 

IRAQ NEWS, 4 AUGUST

Dollar's momentum weakens before payrolls assessment

Shafaq News / The dollar hung back from a four-week high against major peers on Friday as investors looked ahead to a key jobs report that could influence the path for U.S. interest rates.

Sterling traded higher after recovering knee-jerk losses following the Bank of England's decision to downshift to a quarter point rate hike on Thursday.

The yen hovered near the middle of its trading range this week as traders tried to gauge the Bank of Japan's tolerance for higher yields following last week's surprise policy tweak.

Meanwhile, the Australian dollar strengthened amid a flurry of positive news, from the resolution of a barley standoff with China to new stimulus signals from its key trading partner, and just a generally more positive environment for risk assets.

The U.S. dollar index , which gauges the currency against a basket of six counterparts, edged 0.06% lower to 102.39 in Asia. On Thursday, it had pushed to the highest since July 7 at 102.84 at one point, but lost steam later in the day with the monthly nonfarm payrolls report looming on Friday.

The whisper number for payrolls may be higher than the median forecast among economists for a 200,000 increase for July, following reports this week showing low levels of initial jobless claims and much stronger than expected ADP employment data, Kristina Clifton, an analyst at Commonwealth Bank of Australia, wrote in a note.

"The implication is the USD may pull back sharply if payrolls print below or even in line with the reported consensus," she said.

The dollar slipped slightly to 142.40 yen , as long-term Treasury yields - which the currency pair tends to track closely - retreated from Thursday's nearly nine-month high at 4.198% in Tokyo trading.

Sterling rose 0.19% to $1.27335, after dipping as low as $1.2620 on Thursday for the first time since June 30 after the BoE decision, despite a warning that rates were likely to stay high for some time.

https://shafaq.com/en/Economy/Dollar-s-momentum-weakens-before-payrolls-assessment

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CBI Rolls a List of Decrees to Control Illegal Forex Exchange

Shafaq News/ The Central Bank of Iraq (CBI) has issued a list of regulations to control the foreign currency trading in the parallel markets, reiterating its commitment to providing currency through official channels for all legally permissible transactions.

"The source of the US dollar circulating in the local markets is the Central Bank of Iraq, which offers it through banks and exchange companies at the official rate of 1320 dinars per dollar," the CBI said in a press release, "the so-called 'parallel market' has no truth to it, and what is traded is speculative with fixed-price currency, and is illegitimate trading."

According to the statement, the CBI is the primary source of foreign currency in Iraq, and all claims of an independent "parallel market" are entirely unfounded. Such descriptions are only applicable when the market has its particular sources from private sector exports, local tourism, residents' transfers abroad, etc.

As part of its strategy to achieve the main public objectives, including stabilizing the exchange rate, the CBI has also announced a new system focusing on the execution of all foreign remittances and documentary credits via an electronic platform. This platform allows for meticulous pre-audit checks, verification of the final beneficiary, and safeguards all parties from both domestic and international risks.

In addition to this, personal remittances abroad for education, healthcare, personal needs, and retiree salaries for residents abroad will be facilitated through international money transfer companies like Western Union and MoneyGram.

Travelers will be provided with dollar bills at the official rate through banks and exchange companies, and these transactions will be carried out through an electronic platform for verifying the authenticity and purpose of these amounts.

The mentioned system, in its three dimensions, limits any practices that could expose Iraq and its banking sector and financial institutions to risks. By providing and opening these channels for legitimate purposes, dealing with the dollar outside of them becomes an illegal practice subject to legal accountability towards the parties involved. No party or individual has the right to trade a dollar originating from the Central Bank, which sets the price, channels, limits, and purposes for its use. Trading and dealing with it outside of authorized entities is considered a prohibited activity under the law. As stipulated by the Banking Law No. (94) of 2004 in Article (3), no person is allowed to engage in activities involving the receipt of deposits or other payable funds from the public without obtaining a license or permit issued by the Central Bank of Iraq.

The implementation of the foreign remittance system, documentary credits, and cash sale of foreign currency involves achieving economic, regulatory, and legal objectives, including the following:

1. Enhancing Anti-Money Laundering and Counter-Terrorism Financing Measures: It aims to fend off local and international sanction risks for all related parties.

2. Ensuring the Integrity and Transparency of Iraq's Imports: By directing imports within channels that ensure the safety and transparency of operations, the system also provides essential data and information for planning, regulation, and control purposes.

3. Generating Additional Revenue for the State: This can be achieved by subjecting all imports to comprehensive registration procedures and subsequent fees.

4. Gaining the Trust of Credible International Banks: This move will expand the network of relationships between the local and foreign banking sectors and increase the number of Iraqi bank correspondents.

5. Closing Illicit Foreign Transfer Channels: It also helps in containing the proceeds of crimes and corruption and preventing them from escaping abroad.

6. Preventing Import Goods from Being Affected by Exchange Rate Differences: This includes avoiding the higher costs incurred when purchasing at an unofficial market rate from the black market, leading to price increases and a negative impact on the citizens' purchasing power.

"The people who buy the dollar from the market and provide an opportunity for speculators and beneficiaries, and trade at an unofficial exchange rate, are:

1. Importers among traders: who do not follow the proper methods in foreign transfer operations (remittances and documentary credits) through the electronic platform, available to them at the official rate. They attempt to collect cash dollars exclusively allocated for citizens' travel from the market, or by using electronic payment cards designated for citizens' purchases and expenses abroad or for personal transfers for legitimate purposes.

2. Importers of prohibited or narcotic substances such as drug dealers, or materials that do not pass through official border crossings to escape legal or customs requirements, such as importers of cigarettes and some importers of precision devices. They resort to the market to buy dollars not allocated to them to settle their obligations.

3. Those who achieve returns from the proceeds of crimes, such as bribes, thefts, kidnappings, extortion, sale of prohibitions, etc., and seek to transfer them abroad to conceal them.

4. Citizens who pay for their purchases of goods and services inside Iraq in dollars, prompting them to buy the dollar from the market. Since there is no allocation from the Central Bank's dollar sales for this purpose, their purchase comes from a share allocated for other purposes, especially travel."

"To address the mentioned phenomena, and reduce the phenomenon of the illegitimate market and a higher exchange rate than determined, work is underway with the government and related entities to take the following measures:

- Requiring traders and importers to use the designated channel through the electronic platform, achieving the objectives of this system and preventing the use of cash dollars in the market for purposes other than their intended ones. This requires obliging this category to provide proof of their import amounts originally when their goods enter Iraq at official border crossings.

- Encouraging and supporting the traders' categories to enter the electronic platform by simplifying procedures, especially tax ones, defining their ceilings in advance according to categories, and depositing them in the account of the General Tax Authority through their accounts in banks.

- Tightening control over official border crossings and closing unofficial ones, coordinating between the federal government and the regional government regarding regulating the entry of goods and the fees imposed on them, and preventing the entry of prohibited and legally banned materials.

- Strict application by the competent authorities of Cabinet Resolution No. (23026) for 2023, which includes limiting the sale and purchase of goods and services in Iraqi dinars within Iraq."

"We call for providing official, popular, and media national support in implementing the above, to achieve the referred goals, preserving the integrity of the movement of funds and foreign trade, and warding off risks from the country and its banking sector and financial institutions, through compliance with the rules of the law on combating money laundering and terrorist financing, and related international standards and practices," it concluded.

https://shafaq.com/en/Economy/CBI-Rolls-a-List-of-Decrees-to-Control-Illegal-Forex-Exchange

"10 Best Growth ETFs of 2023", 4 AUGUST

The best growth ETFs provide you with diversified portfolios of companies that are growing at above-average rates. These exchange-traded funds own stocks that deliver rapidly increasing sales, cash flows and share prices.

In the period that began after the 2008 financial crisis and lasted until the beginning of the Covid-19 pandemic, growth stocks widely outperformed value stocks. Value outperformed growth during the challenging years of 2020 and 2022. This year, growth stocks have roared back to life once again, overtaking value stocks.

If you believe that growth stocks still have room to run, consider adding a growth ETF to your investment portfolio. To aid your search, Forbes Advisor has identified the best growth ETFs available in the market today, featuring above-average returns, low expense ratios and strong ratings from Morningstar.

Vanguard Russell 1000 Growth ETF (VONG) 0.08%

Nuveen ESG Large-Cap Growth ETF (NULG) 0.26%

iShares Morningstar Mid-Cap Growth ETF (IMCG) 0.06%

Vanguard Mid-Cap Growth ETF (VOT) 0.07%

Vanguard S&P Small-Cap 600 Growth ETF (VIOG) 0.15%

iShares Morningstar Small-Cap Growth ETF (ISCG) 0.06%

First Trust Nasdaq 100 Equal Weighted ETF (QQEW) 0.58%

iShares S&P 500 Growth ETF (IVW) 0.18%

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG) 0.58%

iShares MSCI EAFE Growth ETF (EFG)

https://www.forbes.com/advisor/investing/best-growth-etfs/

Coffee with Mr. Cottrell and MarkZ 08/04/2023