Iraqi Dinar✅Finally CBI Significant Exchange Rate Stability / Iraqi Dina...

International and international pressure to pass the oil and gas law, 22 OCT

   International and international pressure to pass the oil and gas law

{Politics: Euphrates News} KDP leader, Wafaa Mohammed Karim, revealed international and international pressure to pass the oil and gas law.

“The issue of passing the oil and gas law cannot be overcome if there is no political agreement on the draft law,” Karim told {forat News}.

"At the moment there are political parties that are not served by the passage of the law, but there is international and international pressure on the government to pass the law," he added.

Karim explained, the reason for this to "Iraq's position as the second oil-producing country in OPEC by exporting 4 million and 250 thousand barrels and does not yet have an oil export law."

It is noteworthy that since the first session of the House of Representatives, in 2005, the oil and gas bill has remained locked in drawers, as disagreements prevent its final approval.

After 18 years, he announced, in late August, the formation of a committee to draft an “oil and gas law and present it to the government and the House of Representatives.”

The committee formed between Baghdad and Kurdistan to draft an oil and gas law includes "the Minister of Oil, the Minister of Natural Resources in the region, the Director General of Sumo Company and the advanced staff in the Ministry of Oil, as well as the oil-producing provinces such as Basra, Dhi Qar, Misan and Kirkuk."

The Prime Minister, Mohammed Shia Al-Sudani, said at the beginning of last August that "the draft oil and gas law is one of the basic and important laws, represents a factor of strength and unity for Iraq, and it has been stuck for years, at a time that the country today is in dire need of its legislation and benefit from this natural wealth, in all fields and sectors, as well as the contribution of the legislation of the law to solving many outstanding problems."

The Prime Minister's financial adviser, Mazer Mohammed Saleh, confirmed in a press statement that accelerating the approval of the federal oil and gas project law in the House of Representatives as soon as possible will establish a stable national road map for investment and production for the country's main sovereign resource, which is oil and gas.

Iraq exports an average of 3.3 million barrels of crude oil per day, and black gold accounts for more than 90 percent of Iraq's treasury resources.

"RV UPDATE" BY MILITIAMAN, 22 OCT

 Militia Man  

 Article quote:   "The decision to collect fees in Iraqi dinars at border crossings is an important decision aimed at preserving the hard currency and also straightening the Iraqi dinar" 

 They have a goal of stop using the dollar and using the Iraqi dinar at the customs borders.  Everybody should be clicking their ruby slippers because that's going to be a lot money.  A lot of revenues are going to come through those borders.

  Quote:  "Any party that does not adhere to this decision will be subject to punishment."  They're getting strict.

  When people say there's not too much progress going on -  well some of these things take a long time to put together and most of them are coming into fruition as we speak. 

Iraqi-Saudi coordination council has played a major role with their bilateral relations.  Iraq is doing a good job.  If you've noticed in the news, Iraq is a mediator.  It's almost like the Switzerland of the Middle East.  Kudos to Al-Sudani...

They've increased the interest rate to encourage citizens to save their money. 

 They're going to be paying 7.5%... What's the main goal here?  I think what they're really trying to do is to get large amounts of money off the street...mattress money is what they call it.  They're still trying to get that money in...

"RV UPDATE" BY FRANK26, 22 OCT

 Frank26 

 Question "Many years ago Dr. Shabibi said the dinar would be able to support it up to $16.  Would that still be true for the RI?" 

 No, it's far past that but it would be illogical to come out at $16 or $28 or whatever.   You need that margin for the float. 

  You don't need it to show off.  That's what Kuwait did and they realized their mistake...The next day 

they brought it back down very quickly.

  It gave a window for sharks and whales...and they made massive amount of money.  Obviously it was done on purpose.   And obviously the IMF doesn't allow that to happen again.

[Iraq boots-on-the-ground report] 

 FIREFLY:  There's a restaurant coming into Iraq.  It's called Johnny Rockets. It's a burger join. 

FRANK:  I told you the whole world is pouring in...When you stop and think about it, those places that are coming into your country, they're either stupid or they know exactly what the monetary reform is about to do for them and you Iraqi citizens...

 The goal is to get to 1 to 1 for what reason?

  To add purchasing power. 

 There is the key, to add purchasing power to the currency of Iraq.  I didn't say the Iraqi citizens are going to get rich.  I said to add purchasing power to buy good and services with their currency...

The Iraqi Dinar Dream | Iraq's Pursuit of a 1-to-1 Exchange Rate | Dr.Shabibi

Iraqi PM warns of escalation in Israel-Palestine conflict with global energy implications, 22 OCT

Iraqi PM warns of escalation in Israel-Palestine conflict with global energy implications

Shafaq News / Iraqi Prime Minister Mohammed Shia Al Sudani issued a warning on Saturday regarding the potential for the ongoing conflict between Israel and Palestine to escalate to a point that threatens global energy markets. He also emphasized Iraq's firm rejection of any attempts to depopulate the Gaza Strip and called for the establishment of a fund to support and rebuild the region.

These remarks were delivered during the Cairo Peace Summit 2023, which was convened to address the evolving situation in the occupied Palestinian territories.

Prime Minister Al Sudani stated that the Palestinian people are experiencing a process of genocide, as civilians in residential areas, churches, and hospitals become targets. He pointed to the massacre at the Hospital in Gaza as revealing the true face of the Zionist occupation, surpassing all red lines.

He went on to assert that "what is happening constitutes a full-fledged war crime, beginning with the killing of the vulnerable and the imposition of a suffocating siege on the remaining neighborhoods." He affirmed that it is challenging to put into words the daily occurrence of horrific acts and massacres, including the burial of innocents under the rubble of their homes on the very land from which they were first displaced during the Nakba of 1948.

Prime Minister Al Sudani described Gaza as a new test for the global system, which has repeatedly failed to uphold the values of humanity, justice, and freedom. He stressed that Palestine stands as a living testament to this failure.

He further emphasized that "the time has come to put an end to this odious occupation and to alleviate the suffering of the Palestinian people." He affirmed that injustice cannot produce lasting peace, and the only way to achieve security and end violence is by addressing its root causes, beginning with the occupation and policies of racial discrimination.

The Iraqi Prime Minister pointed out that the Zionist entity continues to violate laws, including the laws of war. He highlighted that such violations will impact international security and potentially lead to regional conflicts, endangering global energy supplies, exacerbating global economic crises, and opening the door to deeper and wider conflicts.

He also noted that the Zionist entity persistently breaches the Third Geneva Convention on prisoners of war, the Fourth Geneva Convention that provides protection for civilians in occupied territories, the International Covenant on Civil and Political Rights, and more than 78 United Nations Security Council resolutions related to the Palestinian issue.

Prime Minister Al Sudani stressed that if international resolutions were respected and international bodies fulfilled their responsibilities, the Palestinian situation would not have reached its current tragic state.

Furthermore, he conveyed Iraq's strong rejection of any attempt to depopulate Gaza. He firmly stated, "There is no room to discuss resettlement or the creation of refugee camps. Palestinians have no place except their homeland."

He called for an immediate ceasefire, the opening of border crossings, the allowance of humanitarian aid and relief supplies, and the safe and comprehensive exchange of prisoners and detainees.

Moreover, he insisted on the urgent need to completely lift the blockade on Gaza to prevent a recurrence of the current tragedy. He called for the creation of a fund to support and rebuild the region, assuring that Iraq will not delay in providing any possible assistance.

Prime Minister Al Sudani concluded by emphasizing that the Palestinian issue should not be buried or bargained away. It is not within anyone's right to compromise, concede, or donate on behalf of the Palestinian people, as they are the rightful owners of the land and the cause.

He emphasized that international legitimacy, along with all free peoples, calls for a Palestinian state with its capital in Jerusalem, unmarred by settlements, and unburdened by checkpoints and policies of starvation.

He warned that continuing to disregard the legitimate rights of the Palestinian people will only yield more violence, extremism, and greater instability in the region and the world.

https://shafaq.com/en/Iraq-News/Iraqi-PM-warns-of-escalation-in-Israel-Palestine-conflict-with-global-energy-implications

To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars, 22 OCT

 To Support The Dinar... Nearly 18,000 Pledges Were Signed By Shop Owners Not To Deal In Dollars

2023-10-22 | 969 views  Al-Sumaria News – Local   The number of written pledges that the Ministry of Interior took from shop owners not to deal in dollars during buying and selling reached 17,900 pledges from last May until this October.

This was reported by the Director of Operations at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi , noting that the campaigns launched under the direction of the ministry since last May to support the Iraqi dinar resulted in the arrest of a number of foreign currency speculators and smugglers, according to the official Al-Sabah newspaper.

He explained that the Ministry has taken written pledges obligating the owners of car showrooms, electrical materials stores, tourism and travel companies, wholesale and key cards, as well as the owners of residential complexes, not to deal (in dollars) during buying and selling, and to deal exclusively in the Iraqi dinar according to the price specified by the Central Bank,

otherwise The violator is subject to legal accountability in accordance with Article 306 of the Iraqi Penal Code No. 111 of 1969, which stipulates imprisonment and the imposition of a fine on anyone who refuses to deal in the Iraqi dinar. He added that the Central Bank and the Council of Ministers  have authorized merchants importing basic and necessary materials from outside the country to enter the platform. Electronic and deal in dollars through it only.   LINK