Iran and Iraq Highlight Importance of Implementing Security Agreement, 1 OCT

 Iran and Iraq Highlight Importance of Implementing Security Agreement, 1 OCT

The Secretary of Iran’s Supreme National Security Council, Ali Akbar Ahmadian, and the Iraqi National Security Advisor, Qasim al-Araji, recently held a meeting in Tehran emphasizing the importance of implementing the security agreement signed between Iran and Iraq. The agreement is seen as a critical roadmap to establish border security and eradicate elements causing insecurity in both countries and the broader West Asia region.

A Roadmap for Stability

In the meeting, Ahmadian described the recent security agreement between Iran and Iraq as the result of months of negotiations and joint efforts. He underscored the security pact as a roadmap for establishing stable security at the borders. Ahmadian stressed on Iran’s consistent support for governments based on the people’s determination, hinting at the democratic principles that guide Iran’s foreign policy. He urged the Iraqi government to ensure the security of the common borders with Iran as soon as possible within the framework of the agreement, thereby ending the presence of anti-revolution elements in the country.

Qasim al-Araji, on his part, affirmed the Iraqi government’s commitment to the security accord and expressed Iraq’s determination to interact with Iran in all fields. He emphasized Iraq’s commitment to the recent agreement with Iran, which is seen as an essential tool in managing the border security challenges faced by both nations.

Context of the Agreement

The 2023 Security Treaty between Iran and Iraq was signed on 19th March 2023 in Baghdad by representatives of Iran and Iraq. The agreement commits both nations to safeguarding the principles of good neighborliness and protecting the common border. One of the main purposes of the deal was to end the illegal presence of anti-Iranian armed groups and elements affiliated with the Zionist regime in the Iraqi areas adjacent to Iran’s northwestern border regions.

This agreement is seen as a strategic move to tighten the frontier with Iraq’s Kurdish region, where Tehran says armed Kurdish dissidents pose a threat to its security. The frontier has come under renewed focus following missile and drone attacks against Iranian Kurdish groups based in northern Iraq, launched by Iran’s Revolutionary Guards. These groups were accused of fomenting protests sparked by the death of an Iranian Kurdish woman while she was being held in police custody.

Potential for Enhanced Cooperation

During the meeting, Ahmadian pointed out the potential for improved cooperation in various fields, particularly economics. He noted that there exist ample opportunities for closer cooperation between the two neighbors, particularly in economic relations. The implementation of the security agreement opens up new avenues for strengthening economic ties and promoting shared prosperity.

Al-Araji reaffirmed Iraq’s determination to carry out the security deal with Iran and expressed Baghdad’s willingness to take every opportunity to strengthen relations with Tehran. He indicated that the Iraqi government and the national security body are determined to build on the security agreement to deepen cooperation in various sectors with Iran.

Future Implications

The security agreement between Iran and Iraq represents a significant step towards ensuring stability and security in the region. By committing to curb the activities of armed groups operating across the border regions, the two countries aim to create a safer environment conducive to economic growth and development. The accord also reflects the shared commitment of both nations to foster deeper relations based on mutual respect and shared interests.

The full and accurate implementation of the security agreement will be key to realizing these goals. As the two nations move forward, the continued commitment to the principles outlined in the security agreement will be critical in shaping the future trajectory of Iran-Iraq relations and the broader geopolitical dynamics of the region.

https://bnn.network/international-relations/iran-and-iraq-highlight-importance-of-implementing-security-agreement/

Iraqi Dinar Rv Upfate News 2023 / Iraqi Dinar News Today / Dinar Currenc...

"RV UPDATE" BY FRANK26, 1 OCT

 Frank26 

 I don't care if they come out at 1132.  I don't care if they come out at $0.10.  I don't care if they come out at $0.50.  You think it's going to stay there for long when the world is wanting to pour in? 

 Whatever the rate is they come out at, in a blink of an eye - bam, you better know when to hold'm and when to fold'm.

Another bank being busted.  Banks being closed, busted, licenses being removed, people being thrown in jail, positions being removed, yeah, there's no doubt about it, that the security and stability that is needed for the new exchange rate is here. 

 The security and stability...is what has allowed the CBI floor to be so clean and spotless you can definitely eat off it...

What about the HCL ?  It's ready.  Why isn't it out?  It's waiting for the new exchange rate.

What do you think the rate will be when it comes out?

  I don't care!  What I care about is for them to announce in 72 hours their sanction free and their currency is restriction free...international.  

If it's international hello Forex...What will it turn into, that's what you need to be paying attention to and at what speed...It ain't going to be no 6 months to a year before it reaches the potential of the Middle Eastern exchange rates of 3 to 1.  No.  Shoot, you're going to sleep, the next morning, boom!

Including oil and gas.. A parliamentarian reveals the main reason behind not approving important laws, 1 OCT

 Including oil and gas.. A parliamentarian reveals the main reason behind not approving important laws

Including oil and gas.. A parliamentarian reveals the main reason behind not approving important lawsInformation / Baghdad..

The representative of the State of Law coalition, Muhammad Al-Ziyadi, confirmed today, Saturday, that the lack of consensus prevented the adoption of important laws of economic and political benefit in Iraq, including oil and gas.

Al-Ziyadi said in a statement to Al-Maalouma, “The House of Representatives, since the beginning of its current session, has not completed any important law except the draft budget, and this is what has put us in the face of many criticisms,” pointing out that “the government has not sent any law to Parliament since its appointment except the budget.” .

He added, “The lack of consensus between the political forces is behind the failure to pass important laws that have a direct relationship to the lives of citizens.”

Al-Ziyadi called on the state administration forces to “hold new sessions in order to agree on a number of laws, including oil and gas, and to instruct the government and parliament to put them to a vote.”

A member of the Legal Committee, Mudar Al-Karawi, confirmed in a previous statement to Al-Maalouma that more than 20 laws will be proposed in the House of Representatives, the most important of which is the oil and gas law, but resolving it requires political consensus by all forces.

almaalomah.me

The Rising Economic Interplay: Iraq and Turkey, 1 OCT

 The Rising Economic Interplay: Iraq and Turkey, 30 SEPT

In recent times, the economic relationship between Iraq and Turkey has seen significant developments. These changes have radically altered the trade dynamics between the two nations. As of August, Iraq has risen to become the third-largest importer of Turkish goods. This ascent signifies a substantial shift in trade dynamics, pushing Iraq to the forefront of Turkey’s economic relationships.

Simultaneously, Turkey’s exports have experienced an increase, indicative of its growing economic strength and influence in the region. However, on the flip side, Turkey’s imports have seen a decrease, suggesting a shift towards greater domestic production or a change in consumption patterns. These movements in trade offer key insights into the evolving economic landscapes of both Iraq and Turkey.

(Also Read: A Detailed Examination of Turkey’s Constitutional Court Ruling on Motor Vehicle Tax)

World Bank’s Role in Iraq’s Economic Development

The World Bank Group has been instrumental in supporting the Government of Iraq’s efforts to stabilize its economy, improve governance, and support the rebuilding of livelihoods. The organization works closely with partners in the international community to buttress economic reforms that strengthen the long-term economy. In September 2020, the World Bank released a Country Economic Memorandum, analyzing the constraints and drivers of growth, and recommending policies for more diverse and inclusive economic models.

In August 2021, the World Bank Board approved its new Country Partnership Framework (CPF) with Iraq for the fiscal years 2022-2026. The framework outlines the main development goals it will support in Iraq. It proposes a series of strategic interventions to help the country respond to the pandemic, reform the economy, and rebuild its human capital. The framework is organized under two pillars: improved governance and public service delivery, and private sector participation; and strengthened human capital.

In 2021, Iraq exported 1.61 billion USD to Turkey. The main products that Iraq exported to Turkey were gold, petroleum coke, and refined petroleum. Over the last 25 years, the exports of Iraq to Turkey have increased at an annualized rate of 17.5%, from 28.5 million USD in 1996 to 1.61 billion USD in 2021.

(Read Also: Decoding the EU’s Financial Aid to Turkey: A Comprehensive Analysis)

Turkey’s Economic Strength

In 2021, Turkey exported 11.1 billion USD to Iraq. The main products that Turkey exported to Iraq were jewellery, wheat flours, and poultry meat. Over the last 25 years, the exports of Turkey to Iraq have increased at an annualized rate of 19.9%, from 119 million USD in 1996 to 11.1 billion USD in 2021. This growth signifies Turkey’s growing economic strength and its expanding influence in the region.

In 2021, Turkey’s exports rose by 12.9% to 254.2 billion USD, reaching the country’s highest level ever. This surge highlights a boost in business confidence in Turkey, making it an attractive trade partner for many nations.

Overall, the evolving economic relationship between Iraq and Turkey is a testament to the changing dynamics of trade in the region. As Iraq emerges as a significant importer of Turkish goods, and Turkey’s exports continue to rise, these shifts provide a fascinating glimpse into the economic interplay between these two nations. As these trends continue, they are expected to shape the broader economic landscape in the region in the coming years.

https://bnn.network/world/iraq/the-rising-economic-interplay-iraq-and-turkey/

Dinar RV Breaking News🔥Urgent: CBI Gov Alaq: Goal is the Sovereignty of THE LOCAL CURRENCY " IRAQI DINAR", 1 OCT

The Central Bank is considering adopting the currencies of India, the UAE, and Turkey for foreign transfers, 1 OCT

 The Central Bank is considering adopting the currencies of India, the UAE, and Turkey for foreign transfers

The Central Bank is considering adopting the currencies of India the UAE and Turkey for foreign transfersThe Governor of the Central Bank, Ali Al-Alaq, said today, Saturday, that the bank is studying the adoption of the currencies of India, the Emirates, and Turkey in foreign transfers, while he confirmed that there is a response and compliance from the 14 banks sanctioned by the United States to the specified standards.

The Central Bank announces dispensing with external transfer: We will adopt…

The Central Bank announces the dispensation of external transfer: We will rely on licensed banks

Al-Alaq in an interview with the official news agency, followed by Network 964:

The Central Bank views the exchange rate as something directly related to the general level of prices in the country, and that the bank has succeeded in covering the needs of importers at the official rate.

Monetary policy succeeded in maintaining the general level of prices through the most important indicators of inflation, which witnessed a decline, and this is the main matter that the Central Bank focuses on in the success of its monetary policy.

Maintaining the general level of prices and low inflation indicate the success of the monetary policy, especially after real traders engaged in the conversion process at the official price, which gave reassurance in the conduct of foreign trade.

Electronic platform:

At the beginning of its work, the electronic platform witnessed many difficulties that led to the reluctance of some people to enter it, indicating that the implementation rate in the electronic platform has now increased from 20 percent to 95 percent, and this gave reassurance that entering the platform provides speed and safety.

Entering the electronic platform in the external transfer process saves all parties from the risks of exposure to local and international sanctions. We warn against some merchants who cannot work in an organized atmosphere and are looking for chaos. The Central Bank is working to contain this challenge in coordination with the government to besiege these groups that are being… Diagnosis and follow-up.

The Central Bank’s sales, 90% of which are for remittances and external transfers, are proceeding smoothly and at the official price (1320), but the problem lies in the cash side, which represents 10% of internal daily sales.

The ten percent rate is sufficient to meet the needs of travelers, but some are trying to dominate by withdrawing the amount allocated to travelers, which creates pressure and an increase in the cash price, and these parties have been identified as carrying out illegal and criminal operations.

Al-Alaq revealed the development process for the cash sales system allocated to the traveler within a system prepared by exchange companies, and it is being developed to fill the gaps, and does not accept repetition and the unreal traveler,” denying that there is a tendency to stop selling cash dollars to travelers, and that the Central Bank has no problem in covering requests. The correct and legitimate ones are within the categories (travelers – study – treatment – private transfers), as the bank provided this through financial transfer companies represented by (Western Union and Mini Karam).”

Direct transfer:

The electronic platform is now being gradually transitioned to direct transfer between the Iraqi Bank and the correspondent bank, mediated by an international auditing company, as the Central Bank has cut the 60 percent that does not pass through the platform, but rather is a direct transfer.

Next year, the Central Bank will permanently cease being an intermediary in the process, and the electronic platform will end next year and become direct transfer operations as internationally approved. This is a major shift that will put things on the right path, accelerate transfer operations, and intertwine relations with international banks.

The truth about Iraq losing 27 trillion:

The idea of ​​linking the exchange rate to filling the general budget deficit is an inaccurate view, and that the central bank is responsible for determining monetary policy, determining the exchange rate within its existing indicators, and achieving the goal of monetary policy.

The calculation process for those who say that Iraq lost 27 trillion from the exchange rate change difference is wrong, and 30 percent of oil revenues do not enter the Central Bank, because the Ministry of Finance uses them for external payments, while the second part is that the exchange rate should not be linked to achieving balance. In the budget.

US Treasury:

During her visit to Iraq, the US Assistant Secretary of the Treasury praised the measures taken by the Central Bank to organize the external transfer process, implement compliance rules, combat money laundering and terrorist financing, and direct coordination between the Central Bank, the US Treasury and the Federal Bank, and there is very great American satisfaction in this context.

Sanctions on banks:

The Central Bank is conducting a review and audit process to diagnose violations against the 14 banks that were imposed restrictions and deprivation of obtaining the dollar, “as the Central Bank indicated the presence of a response and compliance from the 14 banks to the specified standards.”

The American side does not restrict demand for the dollar, and there is coordination regarding cash shipments through an annual agreement on the number of shipments and their dates.

The Central Bank prefers to use non-cash payment tools through the use of cards (Visa and MasterCard), which has recorded a significant increase over the past months, and this is a good indicator that reduces the focus on the use of cash, and reduces the hassle of checking with companies to obtain cash dollars.”

Regulating trade with Iran:

There are ongoing discussions to regulate the import process from the Iranian side in a way that does not expose Iraq to any problems by violating sanctions and agreements.

The Central Bank will reach a clear formula in regulating the trade process, especially since part of it is through barter.

There is an agreement to settle the debts incurred by Iraq from Iranian gas imports through a new method through which these amounts are paid.

Adopting new currencies:

There is work to adopt the UAE dirham, the Turkish lira, the Indian rupee, and the euro as part of the process of facilitating external transfer by opening direct outlets in the currencies of the countries we deal with.

The trade balance with India amounts to $3 billion, and there are also high numbers for imports from the Emirates and Turkey.

The Central Bank has reached advanced stages of understanding in adopting the currencies of these countries, which will facilitate the external transfer process.

Dinar support campaign:

The campaign to support the Iraqi dinar is multi-faceted and multi-party. Its goal is the sovereignty of the local currency in internal transactions instead of foreign currencies, which are being limited. There is a gradual transition process within the Prime Minister’s directive to limit dealing in the Iraqi dinar internally, and oblige companies to do so, a large percentage of which responded.

Industrial initiative and housing loans:

The industrial initiative has not stopped, but the amounts approved for it have been exhausted, with the volume of loaned initiatives amounting to more than 13 trillion dinars.

The Central Bank raised the interest on the housing initiative to 2 percent, which is a low rate compared to international countries.

The stated interest does not include complexes that have received previous payments, while it includes new complexes.

964media.com