Iraq-Turkey Collaborative Efforts to Reorganize Trade, 18 nov

 Iraq-Turkey Collaborative Efforts to Reorganize Trade, 18 nov

ERBIL — Discussions took place on Thursday between Iraqi and Turkish officials aiming to regulate and restructure economic exchanges between the two countries.

Iraqi PM Muhammed Shia’ al-Sudani directed the establishment of comprehensive trade regimes and standards, aiming to discourage reliance on parallel markets, Iraqi News Agency reported.

The meeting involved representatives from the Iraqi Central Bank, PM advisors, a Turkish delegation led by the Turkish ambassador, Turkish banks operating in Iraq, and representatives from the Turkish private sector.

The discussions highlighting the importance for Turkish customs authorities to align with Iraqi customs, ensuring equal exchange between the two nations.

They also shed light on establishing interconnected financial and banking systems between the countries to facilitate capital transactions and commerce, reducing reliance on the parallel market.

The meeting further discussed exploring simplified access to credit card usage in Turkey for Iraqi residents and tourists.

These measures are expected to aim at reorganizing and regulating trade regimes and capital exchanges between the two neighboring countries using approved legal and banking methods.

https://www.basnews.com/en/babat/830515

2023 Budget Canceled - Finance Salaries

" RV UPDATE" BY MARKZ, 18 NOV

 MarkZ 

 [via PDK]  The big news...is “Parliament convenes Special Session as alliance nominates three successor candidates to Al-Halibousi” The overwhelming agreement is that Halibousi has been a major roadblock especially on the 3 paragraphs of the HCL…the Kurds and Baghdad. So they removed Al Halibousi who was wildly considered to be a roadblock and kept us from getting across the finish line with the HCL law. From my sources I feel very confident that he was the roadblock. It is very encouraging that he was removed and is being replaced. They continue to tell me they want this done by Dec. 1st. Let’s pray and hope this is accurate.

We certainly expect it to go by Dec 1st. The latest chatter I am getting from Iraqi sources is  the last 3 paragraphs of the HCL have been 100% completed. And the World Trade Organization Iraq ascension is expected within days. They are feeling very confident with their Dec 1st goal. A number of my sources are still saying before Thanksgiving.  It looks really good.

 Comment:  Chase Bank wealth management sent me a lengthy email that they would like to manage my wealth. Funny thing is I only have about 2 thousand dollars in my account.  MarkZ:  They know what’s coming. It is a regular conversation with many bank employees now. 

To What Extent Do The Government And The Central Bank Control Dollar Smuggling Operations? Parliamentarian Explains, 18 nov

 Time: 11/18/2023 Read: 1,404 times {Economic: Al-Furat News} Member of the Parliamentary Finance Committee, Ali Jabbar Mu’nis, explained today, Saturday, that tightening control and maintaining the official price limits smuggling operations, and this matter falls on the responsibility of the government and the Central Bank.

For several months, the value of the Iraqi dinar has fluctuated sharply, losing on some days 15 percent of its value against the dollar, which sparked sporadic demonstrations by Iraqis worried about losing their purchasing power.

Muanis told {Al-Furat News} agency: “With regard to the rise in the exchange rates of the parallel dollar due to the lack of tight control over the parallel market, smuggling operations must be controlled according to mechanisms established by the government,” indicating that “tightening control and maintaining the official price limits smuggling operations.”

He added, "Remaining in this situation leads to maintaining the large difference between the parallel and official prices, and this matter falls on the responsibility of the Central Bank and the government," indicating that "the situation remaining in this situation is worrying and needs to be stopped."

During the past few days, many Iraqi banks have begun to stop giving depositors their money in dollars, even though they have accounts in Iraqi dinars and US dollars.

This came after statements made by officials at the Central Bank talking about preventing cash transactions in dollars and restricting them to the Iraqi dinar only in an attempt to control exchange rates.

The selling price of the dollar in Baghdad markets this morning reached 160,500 Iraqi dinars, while the buying price reached 158,500 dinars for every 100 dollars.  LINK

Iraq Joins European Bank, Unlocking New Economic Opportunities, 18 nov

 Iraq Joins European Bank, Unlocking New Economic Opportunities

On a historic day for Iraq, the country has been announced as the 74th member of the European Bank for Reconstruction and Development (EBRD). This monumental step has been taken with the aim of providing Iraqi companies with a global platform to access loans, enhance their product and service offerings, and strengthen their connectivity with international communities.

Unlocking New Economic Opportunities

The decision to include Iraq in the EBRD’s framework paves the way for Iraqi companies to leverage the financial tools and networks that the bank offers. This is expected to bring about significant economic implications for Iraq, providing its businesses with much-needed financial support. The move is also set to create opportunities for international collaboration and market expansion, potentially catalyzing economic growth and bolstering Iraq’s competitiveness on a global scale.

A Leap Towards International Economic Integration

For Iraq, a country striving to rebuild its economy and infrastructure after years of conflict and instability, this inclusion signifies a major step forward in its journey towards international economic integration. By joining one of the world’s leading development banks, Iraq can breathe new life into its economic landscape, empowering its businesses to compete on the global stage.

The Role of the European Bank

The EBRD plays a crucial role in providing financial assistance and support to countries with emerging economies. As the latest member of the EBRD, Iraq stands to benefit from the bank’s extensive resources and expertise, potentially paving the way for a brighter and more prosperous economic future for the country.

https://bnn.network/world/iraq/iraq-joins-european-bank-unlocking-new-economic-opportunities/

Iraqi Dinar🔥ISO 200-2022 & HCL Law Approved In Iraq Today 2023🔥iraqi din...

"RV UPDATE": SPAIN BANK STORY BY FRANK26 , 18 NOV

 Frank26  

[Spain Bank Story]  

As you know I live in Spain.  Last Friday I went to the Bank of Spain branch in Barcelona.  It's the Central Bank of Spain.  There are only two branches in our country...I showed the man at the counter a 50K dinar bill.  The man looked at me and told me they couldn't change that bill there...but he told me the two banks that will 100% be

involved in exchanging this currency is Banco Santander and BBVA.  They are the two largest banks here in Spain.  

They know everything.  He even explained to me the process on how to do the exchange.  He spent time with me, the amount of cash that I could legally withdraw etc. etc.  He knew what bill it was and where it was from.  

Here they are paying attention to what is going on, what is going to happen in a very short time.  They're not playing no games in Spain...The banks know about everything.