Wednesday, November 22, 2023
Association Of Banks: The Dollar Exchange Rate In The Parallel Market Will Decrease After The Government’s Measures, 22 NOV
Association Of Banks: The Dollar Exchange Rate In The Parallel Market Will Decrease After The Government’s Measures
Economy| 11/21/2023 Mawazine News - Baghdad Today, Tuesday, the Iraqi Private Banks Association expressed its support for government efforts aimed at reducing the dollar exchange rate in the parallel market, while noting that
Prime Minister Muhammad Shiaa Al-Sudani’s movement to support the private sector represents the beginning of reforming the Iraqi economy.
The head of the association, Wadih Al-Handal, said, “The recent measures of the Central Bank of Iraq and the government, regarding facilitating trade financing using new currencies, represented by the euro, the dirham, the Chinese yuan, and the Indian rupee, are a step that contributes to reducing the exchange rate of the dollar in the parallel market,” noting that
“regulating trade financing “What the government and the central bank are doing by introducing other goods to the platform will lead to an increase in trade financing.” He stressed that
"private banks are taking great steps in expanding international relations with international banks, which facilitates the financing of Iraqi trade with countries around the world," explaining that
"the Prime Minister's great support for the private sector is considered the beginning of reforming the Iraqi economy, especially since the private sector is an important partner." To the government, in providing services and jobs and reducing poverty.”
"RV UPDATE" BY PIMPY, 22 NOV
Pimpy
Month, month and a half there's been quite a bit of positive news coming out of Iraq. Let's hope they stay out of trouble and continue working on doing what it takes to regain their sovereignty. They're taking all the right steps to do what it takes to appreciate the Iraqi dinar which all of us are happy about. You still got people out there...swearing up and down that means there's going to be a reinstatement of the $3.22 rate.
I'm going to continue to tell you no it isn't. I still believe the Iraqi dinar is going to go up in increments. It's not going to jump up to $3.22 right off the get-go. It'll get there fairly quick but it's not going to happen overnight. As long as they stay in the good graces of the Untied States everything should be fine...
In the news we see Iraq is involved in another currency swap...The fact they're now starting to prepare themselves to do currency swaps with UAE is big news. The more they do that with other countries the stronger the Iraqi dinar becomes. Think supply and demand. In order for you to do a currency swap you have to take in their currencies and they have to take in yours...
Article: "Changes in business dealings...Iraq replaces the dollar with other currencies to stabilize the dinar"
All this is good news but it's going to take a little time for some of this to be implemented. What I'm looking forward to is seeing how Iraq does in the first quarter of next year because by then all the kinks should have been worked out of these programs implemented and we should start to see the results in the first quarter of 2024.
Iraq Restricts Commercial Transactions to Iraqi Dinar: What it Means for the Economy, 22 NOV
Iraq Restricts Commercial Transactions to Iraqi Dinar: What it Means for the Economy
Shafaq News/A spokesperson of the Iraqi government on Wednesday condemned airstrikes carried out by the United States in the country on Tuesday, calling them a "violation of sovereignty."
In a statement, government spokesman Basem al-Awwadi said that the airstrikes, which targeted a convoy of al-Hashd al-Shaabi (Popular Mobilization Forces-PMF) in the Jurf al-Nasr area, were conducted without the knowledge of Iraqi authorities.
"The Iraqi government is concerned about the recent escalation in the country, which includes the US airstrikes," al-Awwadi said. "We condemn the attack on Jurf al-Nasr, which was an flagrant violation of sovereignty and an attempt to disrupt the stable security situation in Iraq."
Al-Awwadi stressed that the Iraqi government is the only entity responsible for implementing the law and holding violators accountable.
"The presence of the US-led coalition in Iraq is to support the Iraqi armed forces," he said. "The airstrikes are a clear violation of the coalition's mandate to fight ISIS in Iraq. The coalition is called upon to refrain from acting unilaterally and to respect Iraqi sovereignty."
"Any armed activity carried out outside the military establishment is condemned and is a threat to the national interest," al-Awwadi said. "The government will take the necessary measures to defend Iraq's interests."
Prime Minister Mohammad Shia al-Sudani, who is also the commander-in-chief of the armed forces, has ordered the military and security forces to carry out their duties and enforce the law.
"The security of Iraq and its stability have been achieved through the sacrifices of thousands of martyrs," al-Awwadi concluded. "It is the responsibility of all to preserve them."
US jets carried out airstrikes in Iraq early on 22 November, targeting what the US Central Command (CENTCOM) claims were "Iran-linked" facilities south of the capital, Baghdad.
A US official told ABC News that the "strikes were conducted against a Kataib Hezbollah operations center and a Kataib Hezbollah Command and Control node."
The US attack, which targeted the town of Jurf al-Nasr (formerly known as Jurf al-Sakhr), reportedly killing eight people. Kataib Hezbollah announced that five of its members were among those killed.
Wednesday's airstrikes came in response to daily attacks against US forces in Iraq and Syria. This is the fourth round of airstrikes carried out by Washington in response to the surge in attacks against its troops.
The Iraqi resistance announced on 21 November it had targeted the Ain al-Assad base in Iraq twice, as well as the Al-Shaddadi base in Hasakah, northeastern Syria.
The bases were struck "with appropriate weapons," which "directly hit" all their targets.
The Ain al-Assad base was hit with close-range ballistic missiles, resulting in eight injuries and material damage, according to two US officials.
US bases in Iraq and Syria have come under almost daily fire by the Islamic Resistance of Iraq, a coalition of Iraqi armed factions that banded together last month to confront US forces in rejection of Washington's support for Israel.
The attacks are launched "in response to the crimes committed by the enemy against our people in Gaza."
"US forces have been attacked approximately 66 times since October 17. Thirty-two separate times in Iraq, and 34 separate times in Syria," the Pentagon announced on Tuesday evening. At least 60 US soldiers have suffered traumatic brain injuries and other injuries.
https://shafaq.com/en/Iraq-News/Iraqi-government-condemns-US-airstrikes-as-violation-of-sovereignty
Coffee with MarkZ and DaWu. 11/22/2023
KDP President Barzani Expresses Concern Over New Parliamentary President Selection in Iraq, 22 NOV
KDP President Barzani Expresses Concern Over New Parliamentary President Selection in Iraq
Kurdistan Democratic Party KDP President Masoud Barzani, a crucial figure in Iraqi politics and former President of the Kurdistan Region, has voiced his views amidst the ongoing selection process for the new President of the Iraqi Parliament. This event is a significant milestone in the political landscape of Iraq, with potential to alter the balance of power and representation among diverse ethnic and political groups. President Barzani’s intervention and remarks, while not disclosed in detail, are expected to echo the interests of Kurdish political parties and the broader Kurdish community within Iraq.
Barzani Addresses the Middle East Peace and Security Forum
During a panel discussion at the Peace and Security Forum in the Middle East, KRG Prime Minister Masrour Barzani, expressed his apprehensions about the timing of the removal of Iraqi Parliament Speaker Mohammed al-Halbousi. Labeling it as ‘inappropriate,’ Barzani highlighted the potential implications this could have on the political equilibrium within Iraq.
Concerns Over the Israel-Hamas Conflict
Barzani also conveyed his concerns about the plight of civilians embroiled in the ongoing Gaza conflicts. He strongly condemned attacks on innocent individuals and underscored the urgency of ending the Israel-Hamas conflict. Barzani also advised Iraq to remain uninvolved in the conflict, a stance reflective of his commitment to preserving regional stability.
Barzani’s Stance on the Removal of Mohammed al-Halbousi
Regarding the removal of Mohammed al-Halbousi from the parliamentary speakership, Barzani refrained from commenting on the Federal Court’s decision. However, he described the timing of the dismissal as ‘wrong,’ a statement that underscores his nuanced understanding of the delicate political dynamics in Iraq. His refusal to comment on the Federal Court’s ruling indicates his deliberate attempt to maintain a diplomatic stance in this politically charged scenario.
https://shafaq.com/en/Iraq-News/Iraqi-government-condemns-US-airstrikes-as-violation-of-sovereignty
Iraq announces great strides in digital transformation, 25 DEC
Iraq announces great strides in digital transformation Economy News – Baghdad The Ministry of Finance announced on Tuesday that it had mad...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...