Iraq and the UAE begin financial transfer, trade and import in dirhams
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, met in Dubai with the Chairman of the First Abu Dhabi Bank Group, Hanaa Al-Rustamani.
During the meeting, according to a statement by the Central Bank, a copy of which {Al-Furat News} received, “it was agreed to launch financial transfer operations between the two countries and to finance trade and imports between Iraq and the United Arab Emirates in the UAE dirham currency through the First Abu Dhabi Bank, as transfer operations in the UAE dirham began this day, Wednesday.” December 13.”
The first phase of this agreement will be, according to the statement, “with five Iraqi banks, which will be gradually increased.” The Central Bank of Iraq noted that "this step comes within the framework of enabling Iraqi banks to establish relationships with reputable international banks, and it aims towards reducing reliance on the electronic platform for financial transfers and working in accordance with normal international practices adopted in strengthening the balances of Iraqi banks for the purposes of financing trade."
The First Abu Dhabi Bank offered to contribute to financing clean energy projects in Iraq.
It is noteworthy that First Abu Dhabi Bank is one of the largest and strongest financial institutions in the world, with a credit rating of AA-, and its total assets amount to about 300 billion US dollars. link
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Coffee with MarkZ and Andy Schectman. 12/13/2023
Member: Gm Mark Z, Moderators and Patriots Worldwide!
Member: Hoping it’s a “Wonderful Wednesday” today!
Member: Inquiring minds want to know…. WTF is taking this RV so long?
MZ: : In Iraq they are supposedly opening the 2023 budget on Dec. 20th and have to have it (supposedly) all spent between the 20th and the First of the year when they do their full de-dollarization. There are a whole lot of eyes on Iraq for the next few days leading up to the 20th.
Member: Is that even possible to spend 80% of budget in 11 days?????
MZ: Spending 80% of the entire year’s budget in 10 days is crazy…..Something is happening. IMO
Member: I hear the RV will be between the 15th and the 20th
MZ: A lot of people are agreeing with you right now.
Member: I believe for Iraq to increase they wanted to wait for USD to start decrease. Thank you Putin and SA…….Petro dollar ended 6th
Member: Mark, 5 trillion in stock options set to expire on Friday.
Member: Warren Buffet dumped 28 billion in stock
Member: 100 trillion due by Fed on Friday December 15
MZ: And we get a interest rate decision at 2PM est today. Will give us an idea of how the Fed is going to move. My guess is they are going to sit on their hands….we will find out. There is a lot coming together like a “perfect storm”
Member: I heard. Inflation will go up 30% in 2024
MZ: Nader had a few fantastic videos. A good article from Sudani about automation of ports ect…..He also talks about the Parliamentary Finance Committee revealed that the government has only spent 20% of this years budget..and they are expected to release the rest of the budget on Dec. 20th. This is huge dollars about to move….. Be sure to go listen and like and share his videos.
MZ: There was another one on “The IQD is on forex “ as a tradeable currency. This means individuals and institutions can buy and sell IQD on the forex market…just like any other currency-the IQD is traded against other currencies like the US dollar, the Euro and the British pound. The exchange rate of the IQD is determined by market forces. In other words ther is an article coming out that says it is looking for a “float” or adjustment against other currencies. They say they are adjusting the exchange rate and the value of it. So yes…Nader had good news today.
Member: So the dinar is going to float?
MZ: IMO –If it floats it will be likely to just float in the local market. And we would still get a fixed rate because the rate would quickly float and balance at their target rate. So don’t panic.
MZ: Nothing else from groups or bond folks today….Mr. C has not been paid. But there is nothing negative. Just waiting.
Member: Well if it’s a shotgun start – we will all go together …so that makes sense
MZ: Had a bank story sent in from Tennessee. It was a teller there who was asked about the new currency….and if they had seen it? They said Yes…and it is very pretty. Then our member showed them pictures from their cell phone of the rainbow currency….and asked the teller if it looked anything like this? The teller said “absolutely. It looked exactly like it.”
MZ: So this new currency is physically at this branch and waiting distribution.
Member: I loved the currency video on youtube showing the new money. Hope it’s this one.
MZ: I had pictures of possible designs….will share it with you when I find it.
Member: Mark, do you think you’ll get to exchange while you’re in the states??
MZ: There is a good chance we will be exchanging while I am here…….we will see. I may end up leaving and have to come right back…which is ok with me.
Member: Thank MARKZ, and the MODS for all you do!
Andy Schectman from Miles Franklin joins the stream today….Please listen to the replay for his information and opinions
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Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
Iraqi, French anti-corruption agencies activate MoU on exchanging intelligence, expertise
Shafaq News/ Iraq and France have agreed to activate a memorandum of understanding on exchanging intelligence and expertise in an effort to combat trans-border corruption, according to an official statement.
The agreement came following a meeting between Judge Haider Hanoun and Isabelle Jegouzo, which took place on the sidelines of the 10th Conference of the States Parties to the United Nations Convention against Corruption (UNCAC) in Atlanta, Georgia.
Judge Hanoun emphasized the importance of upholding the UNCAC's provisions and fostering cooperation among member countries in tackling corruption. He also called for adopting effective legal mechanisms to prevent and combat this pervasive issue.
The meeting saw both parties commit to activating a memorandum of understanding signed in January 2023 during Iraqi Prime Minister Mohammad Shia al-Sudani's visit to France.
The MoU outlines a framework for joint efforts in intelligence cooperation, expertise exchange, and training.
Iraq's PM to Blinken: Iraqi security forces can pursue diplomatic mission attackers independently
Shafaq News/ Iraqi Prime Minister Mohammad Shia Al-Sudani stressed the government's commitment to protecting the diplomatic missions in the country.
Al-Sudani's media office said that the Prime Minister received, on Tuesday, a phone call from U.S. Secretary of State Anthony Blinken.
Both sides discussed various topics of common interest, including ways to strengthen relations between Iraq and the United States, and regional and international developments.
Al-Sudani stressed Iraq's "keenness to fostering partnerships and collaboration with brotherly and friendly nations, aiming to address economic, security, and climate challenges collectively."
The Iraqi Prime Minister pointed out that Iraq is committed to protecting diplomatic missions and advisors, emphasizing the capability of Iraqi security forces to fulfill their responsibilities in pursuing those responsible for attacks on diplomatic missions without any external interference.
For his part, the U.S. Secretary of State welcomed the Iraqi government's measures to secure diplomatic missions and embassies operating in Iraq and to those behind the attacks.
The call between the two countries came after the U.S. embassy in Baghdad was attacked last week.
The U.S. Embassy spokesperson issued a statement saying that the "indications are the attacks were initiated by Iran-aligned militias, which operate freely in Iraq."
The Embassy said two missiles struck the embassy complex, and no casualties were reported until the moment.
The statement affirmed the U.S. right to self-defense and "to protect our personnel anywhere in the world."
The attacks on the U.S. interests in Iraq and Syria escalated after the clear Amercian support of Washington to Israel in its aggression against Palestinians in Gaza, where more than 18,500 were killed, most are children and women.
The United States keeps providing Tel Aviv with weapons and ammunition and using the veto power to block a Gaza ceasefire resolution.
In contrast, the "Axis of Resistance" (including Iraqi factions, Lebanese Hezbollah, and Ansarallah of Yemen) expressed full support to the Hamas Movement in confronting the Israeli operations in Gaza.
The Islamic Resistance in Iraq launched more than 70 attacks against the US-led Coalition forces in Syria and Iraq. The Ansarallah fired rockets and drones toward Israel despite being more than 1,000 miles away from Sanaa, the Yemeni capital.
The Houthis are also utilizing their control of Yemen's western seaboard, encompassing ports like Hodeidah, to launch attacks on shipping they perceive as linked to Israel.
On the Lebanese front, Israel is facing another "enemy," Hezbollah, the most potent Iran-aligned group in the Middle East.
More than 120 people have been killed on the Lebanese side, mostly Hezbollah fighters with one Lebanese soldier.
Israel also lost tens of soldiers in the military operations on the Lebanese-Palestinian borders.
Hezbollah's strategy started with attacking the Israeli telecommunication towers, which blocked the connection among the Israeli forces, then attacked with drones and rockets the Israeli army gatherings, killing dozens.
Coming In Hot – So let me ask you. If the oil is crashing what else is in conjunction with it?
And if that is collapsing what else in tandem is falling alongside that answer from the 1st question?
And if you answer both of those questions what does that say about the stock market around the world in general? Is this going to be our Christmas to remember for the wrong & right reasons?
Remember the Basel 3 session on Capitol Hill? I wonder if those Capital Requirements are biting some banks in the a$$? Can you say Mortgage-Backed Securities? Can you say derivatives? Can you say fiat USD?
Now do you understand why we had to wait until this happened in order for the IQD reinstatement to occur as a result of the value reducing in the USD in order for countries to trade with America in the new economy?