Baghdad – 964 Hassan Al-Yasiri, advisor to the Prime Minister for Constitutional Affairs, said on Monday that there is a new vision for amending the constitution that includes staying away from issues of political conflict, while noting that it was well received by most political blocs.
Al-Yasiri, in a statement to the official agency, followed by Network 964: Prime Minister Muhammad Shiaa Al-Sudani adopted the draft amendment to the constitution, especially since it was approved in 2005, and the Iraqi mentality, both at the political and parliamentary levels, and public opinion, differed and included changing many opinions and ideas.
The constitution is not written and is eternal, so it must be amended at a certain stage.
When the constitution was approved, it was required to amend it. In the past, there were two experiments to amend it, the first in 2006 until 2009 and it was called the Constitution Review Committee, but due to severe disagreements at the time, the project was not completed.
The second experience was in the year 2019 under the government of Adel Abdul Mahdi. A project to amend the constitution was adopted by the Presidency of the Republic and the House of Representatives. After the demonstrations took place, the amendments did not see the light of day, and thus the project was stopped for the second time.
What is proposed now differs from the previous two projects, as it includes a different vision and mentality than before, and it completely excludes the idea of amending the articles of the Constitution from Article 1 to Article 44.
We must benefit from previous experiences, as well as emulating the influence of developed countries such as America, Switzerland, Germany, Australia, Spain and Canada, as those countries amended parts of the constitution and not its entirety.
There are critical issues and amending them will lead to political conflict, so they must be avoided.
Amending the constitution must be according to the principle of gradualism within stages, so that the texts agreed upon by everyone on the necessity of amending them are amended, such as Article 76 and the article related to choosing the President of the Republic. It is necessary to specify in an explicit text the meaning of the largest bloc and what is meant by a two-thirds majority of choosing the President of the Republic. What is meant by it? Whether those present or the total number, in addition to redrafting some provisions of the constitution, especially with regard to independent bodies and which entities are not affiliated with a ministry, in addition to reconsidering transitional justice institutions.
This vision was presented to the leaders of the Shiite and Sunni political blocs and received approval, and a movement is underway to present it to the Kurdish political bloc.
The rate doesn't matter. You're going to trip over you own feet when it finally does float because you're going to be looking for a rate. Watch the growth of the dinar's value.
The only thing missing is the lower denoms and the new exchange rate. Everything else is in position.
[Aki - Iraq Bank In US update]
AKI: There are many Iraqi citizens in the United States of American holding 3-zero notes. It is my job to collect them for the CBI, where they will destroy them. Our [job] is to turn in the 3-zero notes.
WALKINGSTICK: This is huge!
AKI: Agree. Direct deposit from now on. No limitations. Article VIII not only for the citizens but for investors.
[Aki - Iraq Bank owner in US update]
Question: "The new orders you got on January 1st, are they for you to dispense the lower denoms and collect 3 zero notes?"
Here in the Untied States we are preparing to do everything with electronic platforms...We are prepared to collect the 3 zero notes from those that wish to exchange them for American dollars...We follow International banking laws, the same laws American banks follow. Here in the United States the bank that I am in charge of will be all electronic.
When you ask about the LDs they are only found in Iraq. We do not possess them. Iraq will give to the Iraqi citizens, when the time comes, physical lower notes and coins and collect three zero notes...The difference is that here in the US I have to do everything electronic where my friends in Iraq, their banks can do it electronic or physically if they want the lower denoms and coins in their hands .
There are many Iraqi citizens in the United States of American holding 3-zero notes. It is my job to collect them for the CBI, where they will destroy them. Our [job] is to turn in the 3-zero notes. WALKINGSTICK: This is huge! AKI: Agree. Direct deposit from now on. No limitations. Article VIII not only for the citizens but for investors
[Aki - Iraq Bank owner in US update]
Question: "The new orders you got on January 1st, are they for you to dispense the lower denoms and collect 3 zero notes?" Here in the Untied States we are preparing to do everything with electronic platforms...We are prepared to collect the 3 zero notes from those that wish to exchange them for American dollars...We follow International banking laws, the same laws American banks follow. Here in the United States the bank that I am in charge of will be all electronic.
When you ask about the LDs they are only found in Iraq. We do not possess them. Iraq will give to the Iraqi citizens, when the time comes, physical lower notes and coins and collect three zero notes...The difference is that here in the US I have to do everything electronic where my friends in Iraq, their banks can do it electronic or physically if they want the lower denoms and coins in their hands.
The Ministry of Finance announced today, Monday, that reconstruction bonds will continue to be available to citizens until the end of January, within the framework of enhancing development and investment aspects and activating financial and monetary policies in the country.
A statement issued by the ministry, a copy of which NRT Arabic received, stated that the third issuable construction bonds, with a value of 2 trillion Iraqi dinars, will remain available to citizens until the end of January 2024, within the framework of supporting the reconstruction and construction movement, in addition to encouraging citizens to participate in Invest by purchasing these bonds.
The statement explained that the bonds will be tradable on the Iraq Stock Exchange, and will be available in two denominations, with values of 500 thousand dinars and one million dinars, with annual interest of 6% and 8%, respectively, for different time periods.
The Ministry stressed that the process of purchasing and trading bonds is exempt from taxes in accordance with the Federal Budget Law for 2023, calling on investors and citizens to take advantage of this investment opportunity and show interest in participating in this economic activity.
Article: "Al-Sudani leaves Baghdad for Switzerland to attend the Davos Forum" Quote: "On Monday, Iraqi Prime Minister Muhammad Shiaa Al-Sudani left the capital, Baghdad, for Switzerland to participate in the 54th session of the Davos Economic Forum."
Article: "With the exception of Iraq...the World Bank announces a rise in food sector inflation in the world" Quote "...the International Monetary Fund announced a decrease in the inflation rate in Iraq, which is expected to stabilize due to the policy of the Central Bank of Iraq and the impact resulting from raising the exchange rate of the Iraqi dinar..."
Article: "An Iraqi delegation heads to Washington within days, followed by a visit to Sudan" Quote: "Iraqi delegation will head to Washington within days, followed by a visit by Prime Minister Muhammad Shiaa Al-Sudani."
Article: "Selling an Iraqi currency dating back to the era of “King Ghazi” for 100 thousand pounds sterling" Quote: "A very rare Iraqi currency dating back to the royal era was sold in the country, today, Monday, at a fantastic price of 100,000 pounds sterling, or approximately 187 million Iraqi dinars ."
Article: "Expectations that the decline in dollar prices will bring benefits to the Iraqi individual " Quote: "In order to reduce the price of the dollar in the local market, the Central Bank of Iraq specified, yesterday, Sunday, the entities covered by receiving their external transfers in cash in the dollar currency, starting from January 2, 2024. "
Article: "A financial expert points out the reasons for the continuous decline in the dollar exchange rate" Quote: "On Monday, financial expert Nabil Al-Ali attributed the continued decline in the exchange rate of the US dollar towards the Iraqi dinar to...the change in the attitudes of merchants and public opinion through their conviction of the strength and status of the dinar...The dollar exchange rates against the Iraqi dinar will continue to decline, thus touching the official rate specified by the Central Bank ."
Article: "The Iraqi Dinar Overthrows The Dollar And Wins The Struggle To Control The Regular Market” Quote “The US Treasury continues its cooperation with the Central Bank of Iraq,as many Iraqi banks have now formed relationships with international banks for the first time.”
Article: " CBI Governor: Int'l welcome to the Iraqi banking sector’s commitment to compliance rules " Quote: " For the first time, Iraq is witnessing the reorganization of the external transfer process through correspondent banks, instead of the Central Bank or the Federal Bank being the executive interface for this process.”
Article: "CBI Governor: Int'l welcome to the Iraqi banking sector’s commitment to compliance rules" Quote: "For the first time, Iraq is witnessing the reorganization of the external transfer process through correspondent banks, instead of the Central Bank or the Federal Bank being the executive interface for this process.”