Thursday, November 30, 2023
"RV UPDATE" BY FRANK26 30 NOV
Frank26
Every day those that were against it [The dinar/monetary reform], those that were negative like parliament are complimenting and cheering on what is about to happen.
Everyday they come up with new ways of saying the same thing. Article: "Advisor to the prime minister: Economic policy in Iraq is moving towards implementing the principle of monetary sovereignty" MONETARY SOVEREIGNTY... ANOTHER BEAUTIFUL WAY OF SAYING WE HAVE A NEW CURRENCY.
Question: "Do I need my receipt when I go exchange my Iraqi dinar?"Iraq Welcomes Chang Shin Delegation: A Step Towards Global Investment Opportunities, 30 NOV
Iraq Welcomes Chang Shin Delegation: A Step Towards Global Investment Opportunities
In a significant move signaling an economic shift, Mohammed Shia’ Al-Sudani, the Prime Minister of Iraq, has welcomed a delegation from Chang Shin, a leading Chinese investment company. The meeting marks a significant step towards enhancing Iraq’s position as a promising investment hub, offering a wealth of opportunities to global investors.
Emphasizing Iraq’s Investment Attractiveness
During the meeting, Al-Sudani emphasized Iraq’s potential as a hotbed of investment opportunities, committed to providing all necessary facilities for major companies, irrespective of their nationalities. This move aligns with the country’s economic policy of implementing the principle of monetary sovereignty, as confirmed by Mazhar Muhammad Salih, the financial advisor to the Prime Minister. The aim is to leverage Iraq’s large commercial arms while reforming its banking system.
Chang Shin’s Investment Plans
Chang Shin plans to embark on a significant project: establishing an advanced industrial city in the Basra province of Iraq. The city will specialize in the production of steel using direct reduced iron (DRI), often referred to as sponge iron. This initiative aligns with the company’s ambition to explore and invest in untapped potentials. Furthermore, Chang Shin is in the process of contracting for a project aimed at investing in sulfur in Iraq, with the intention of exporting it globally.
Iraq – A Major Investment Destination for China
Describing Iraq as his country’s largest investment destination, the Chinese Embassy Counselor Xu Haifeng revealed that Iraq ranks third among the largest oil exporters to China in 2023. These data underline China’s growing interest in Iraq, further corroborated by the recent renewal of an agreement between China and the UAE to exchange their local currencies for a period of five years.
Iraq’s Unprecedented Strides in Combating Corruption: A Look into the Work of the Iraqi Integrity Commission, 30 NOV
Iraq’s Unprecedented Strides in Combating Corruption: A Look into the Work of the Iraqi Integrity Commission, 30 NOV
The Iraqi government, under the leadership of Hyder Hanoun, head of the Iraqi Integrity Commission, has made significant strides in combating corruption and poverty, and enhancing public services. This progress is underpinned by the commission’s committed efforts to implement international commitments through legislating crucial laws, including the Right to Access Information Law. The government, over the past year, has prioritized these initiatives, providing robust support to the Integrity Commission and law enforcement agencies, thereby enabling them to effectively fulfill their duties.
Recovery of Embezzled Funds and Legal Amendments
The government has focused its efforts on recovering embezzled funds, a critical aspect of its strategy to combat corruption. This has been paired with amendments to the Integrity Commission and Illicit Gains Law, strengthening the legal framework for prosecuting corrupt practices. The effectiveness of these measures is evident in the successful conviction of corrupt individuals and the recovery of stolen funds.
Investigations into Unlawful Enrichment and Financial Disclosure
In an unprecedented move, the commission has opened investigations into unlawful enrichment and the financial disclosure of officials. Judges have collaborated in this process, ensuring the rigorous application of the law. The resulting convictions serve as a powerful deterrent, reinforcing the government’s zero-tolerance stance on corruption.
Repatriating Fugitives and Funds
The commission’s work extends beyond domestic borders, actively repatriating fugitives and funds internationally. The government’s international successes in this area have bolstered these efforts, reinforcing the commission’s mandate.
In conclusion, the tireless work of the Iraqi Integrity Commission, backed by the government’s unwavering support, signifies a new chapter in Iraq’s fight against corruption. The commission’s groundbreaking initiatives, such as the investigation into officials’ financial disclosure, reflect its commitment to transparency, accountability, and the rule of law.
Coffee with MarkZ and joined by HOH. 11/30/2023
Dollar Transactions Continue at Ibrahim Khalil Border Despite Iraqi Government’s Dinar Directive, 30 NOV
Dollar Transactions Continue at Ibrahim Khalil Border Despite Iraqi Government’s Dinar Directive
In direct contradiction to the Iraqi government’s decision issued a month ago, transactions continue to be conducted in US dollars at the Ibrahim Khalil border crossing. The government, in its bid to strengthen the national currency and regulate the economy, mandated the use of the Iraqi dinar for all transactions. However, the current situation at the border crossing paints a different picture, indicating either a delay in policy implementation or resistance to the change.
A Discrepancy Between Directive and Practice
This apparent discrepancy between the government’s directive and the on-ground reality raises several questions. It suggests that the transition from dollar to dinar transactions at this major border crossing has not been as smooth or instantaneous as the government might have hoped. The persistence of dollar transactions could be attributed to several factors, including market stability, convenience, or even established trade practices.
The Implications of Dollar Transactions
The continued use of dollars at the Ibrahim Khalil border crossing could have significant implications for the local economy, trade, and monetary policy. Although the dollar offers a stable and globally recognized medium of exchange, its dominance could undermine the government’s efforts to bolster the Iraqi dinar. It could also influence trade dynamics, potentially favoring those businesses and sectors with greater access to dollars.
Impact on Government’s Economic Goals
As the government strives to exert more control over its economic affairs, this situation serves as a stark reminder of the challenges they face. It underscores the complexity of implementing monetary policy changes in an economy where ingrained practices and external factors often hold sway. The government’s push to promote the dinar, while commendable for its potential to foster economic independence, also requires careful navigation to avoid any unintended consequences.
Politician: Iraq has no fear of Trump reaching the White House, 23 DEC
Politician: Iraq has no fear of Trump reaching the White House Independent politician Wael al-Rikabi confirmed on Sunday that Iraq will no...
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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...