Wealthy Iraqis move to the Caribbean. Guess who's on the list? ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch
individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical. Citizens can travel to 144 countries without a visa..
The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution. He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...
There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.
The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless. It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange. Most of these reserves are held in US dollars since it is the most traded currency in the world...
The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...
Article: "Good News for Investors: US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"
Vietnam was not included on the US Treasury Department currency manipulators list this time. The list comes out twice a year and includes countries that may have surpassed the value of their currency. When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...
On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...
Iraqi-British Business Council Conference: A Step Towards Economic Transformation in Iraq, 25 NOV
The Iraqi-British Business Council is poised to host a landmark conference in Dubai on December 7th and 8th, with an ambitious intent of bolstering alliances and ushering economic transformation in Iraq. The conference aims to galvanize companies engaged in business and trade, in a bid to nurture investment opportunities and bolster Iraq’s industry and its populace.
Strengthening Economic Ties
The event underscores the UAE’s ascending role as the primary commercial hub for Iraq, reflecting a substantial growth in trade between the two nations, which has surged by over 60% in 2022. The UAE emerges as a common ground for diverse global entities ranging from the UK, EU, and US to India, Turkey, Iraq and the Gulf. This pivotal role of the UAE in facilitating international cooperation is highlighted, further augmenting its potential for investment in Iraq, and providing an efficient route for companies to penetrate the Iraqi market, bypassing administrative hurdles within Iraq itself.
Building a Sustainable Future
A keynote speech by Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, will be a centerpiece of the event, focusing on constructing a sustainable future. The conference comes at a crucial juncture, addressing cardinal issues such as economic sustainability, education, finance, and climate change. As part of the climate change discussion, a UN-led conference in Dubai recently concurred on a target to curtail carbon emissions from global aviation by 5 per cent by 2030 through the utilization of sustainable aviation fuels.
Driving Growth and Development
The conference is seen as a catalyst for socioeconomic progress in Iraq. As Christoph Michels, the conference’s Managing Director, emphasizes the import of the event, which is projected to draw key decision-makers and stimulate dialogue on critical issues. Fikas Handa, the UAE representative at the regional level in the council, also recognizes the conference’s potential to influence Iraq’s long-term development and foresight. With its focus on facilitating technology transfer, infrastructure development, and expertise sharing, the conference is set to promote growth and development in Iraq, contributing to its reconstruction and economic revival.
Political Engagement Among Kurdish Factions: A Step Toward Regional Stability, 25 NOV
In a significant political development, officials from the Gorran Movement hosted a delegation from the Patriotic Union of Kurdistan (PUK), led by Bafel Talabani, on Sulaymaniyah’s Zargata Hill. The event symbolizes a collaborative endeavor between two influential Kurdish political factions in the region, aiming to foster dialogue and potentially address pivotal issues concerning political cooperation, governance, and regional stability.
Collaborative Efforts in the Kurdish Region
This kind of political engagement is vital in the context of the Kurdish region of Iraq, where the balance of power and alliance-building among various parties can substantially mold the political landscape. The meeting signifies a dedicated effort by these factions to address key challenges and work towards regional stability.
Simultaneously, Masoud Barzani, the renowned Kurdish leader and president of the Kurdistan Democratic Party (KDP), hosted a high-ranking British military delegation led by Marshal Sammy Sampson, the UK’s Senior Military Advisor for the Middle East and North Africa. The dialogue focused on essential developments within the ongoing Peshmerga reforms, reflecting a shared commitment to enhancing the capabilities of the Kurdish forces.
International Partnerships and Geopolitics
The talks emphasized the importance of coordination among the Kurdistan Peshmerga Forces, coalition forces, and the Iraqi army. The British delegation commended the resilience and dedication of the Peshmerga forces and pledged ongoing support in the face of evolving regional dynamics. This engagement marks another chapter in the collaborative efforts to address regional challenges and underscores the importance of international partnerships in navigating complex geopolitical landscapes.
Unrest in Iran
Iran’s religious leaders are attempting to depict the angry protests over the death of Mahsa Amini as a breakaway uprising by her fellow Kurds threatening the nation’s unity rather than its clerical rule. Protests, which began at Amini’s funeral in her Kurdish hometown of Saqez, spread swiftly across the country. Iranian state media have labeled the nationwide protests a political plot ignited by Kurdish separatist groups, particularly the Kurdistan Democratic Party of Iran (KDPI).
Meanwhile, Soheila Mohammadi, an Iranian Kurdish political prisoner held at Urmia central prison in northwestern Iran, has gone on hunger strike and sewn her lips shut as a protest against the mistreatment by prison officials. Mohammadi continues to be deprived of parole opportunities and conditional release despite completing three years of her five-year term.
Advisor to the Prime Minister: Starting a new phase of the relationship with China
The Prime Minister's Advisor for Investment Affairs, Muhammad Al-Najjar, announced today, Saturday, the importance of the relationship between Iraq and China, while announcing a platform for Iraqi and Chinese businessmen.
Muhammad al-Najjar told the official agency, during the establishment ceremony of the Iraqi-Chinese Business Council, under the patronage of Prime Minister Muhammad Shia al-Sudani, that “China was distinguished by several characteristics, including that it is the only country that was able to save 400 million people from the poverty line within 20 years, and this is an experience.” It is great and everyone must benefit from it.
The second characteristic is its transition from a 100% state-controlled communist economy to a real shared economy that has become productive.”
Al-Najjar added, “The third characteristic, which is very important as it relates to the experience that China has acquired over 4,000 years of civilization, is how to develop a team capable of managing the country’s variables,” indicating that “Iraq views China as a friend and as a country that shared its concerns in a stage of abandonment.” A lot about him.”
He continued, "We seek to learn a lot from China regarding how to change the framework and systems of the state," noting, "China has a principle called special economic zones, and this is an experience that must be benefited from in Iraq to change our economic reality."
Al-Najjar pointed out, “In 1979, China’s gross domestic product did not exceed 120 billion, but today China is the second largest economy in the world over 40 years of changes that occurred not only on a political basis, but on an economic and political basis simultaneously.” He expressed his hope to “begin a new phase of the relationship with China.”
He stressed that "renewable commercial and industrial projects will be held between Iraq and China," adding, "The Iraqi-Chinese Business Council will be a platform for businessmen from both countries." link
Two months ago a quick little pip movement took the exchange rate of the Iraqi dinar from 1460 to 1320...They were supposed to make the next step.
I told you at that time, 'Now that they've made this movement, let's say 1320 to 1, the next one will be 1,000 to 1 and when they do they will be in position to lift the three zeros and float the currency in a basket...'
Article quote: "Solutions exist, and during our tenure at the Ministry of Finance (2006-2010), we succeeded in increasing the value of the dinar from (1,500 dinars to the dollar to 1,170 dinars to the dollar). We were planning to reach (1,000 dinars to the dollar) and then raise the zeros so that the dinar was equal to the dollar." What?!?
Word for word of what we taught you...This is the last step. IMO the CBI is going to be going to the US Treasury next week...This is exactly what we want next.
Question: " What if you lost your receipt for your dinar?"
Try to get ahold of the individual you bought it from. If they have records...maybe they might help you. My broker does not...If you lost it. Oh, dear. That can be a problem financially for you because you want to hold your currency for one year...
Because...your [tax] bracket is whatever the government says but if you don't have a receipt or if you don't hold it for a year and you go exchange...that's a different tax bracket. They're going to really bite you hard. It's the difference between 40% tax and 20% tax...[NOTE: Consult your tax professionals at the appropriate time to determinate proper tax for your unique circumstances]
The Iraqi dinar is now going to enter a basket in a float and that's why the CBI has been talking...about the basket and coins... All they talk about is the exchange rate of the Iraqi dinar, about the black market going away andthe only way that all of this can happen is if we have a new exchange rate and a new currency to match it. They are preparing [Iraqi citizens]. This is the monetary reform at its highest point..
Sudanese Advisor: The Battle For The Dollar Is Almost Over
The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed today, Friday, that the dollar battle is nearing its end.
Al-Rikabi said in a post on the “X” platform, followed by Earth News: “The reform plans for the financial and banking system undertaken by the government and the Central Bank of Iraq aim to build strong foundations for the stability of the economy and pave the way for creating a suitable climate for investment, and end the eras of illegal trade, dollar smuggling, and speculative operations in market".
He added, "In short, the battle for the dollar is nearing its end." LINK
