Tuesday, January 23, 2024
Advisor to the Prime Minister: We will investigate the Guardian newspaper’s allegations about UNAMI corruption in the file of reconstruction of liberated areas, 23 JAN
Advisor to the Prime Minister, Farhad Alaeddin , confirmed that Iraq will contact the highest authorities in the United Nations to discuss the details of the allegations of suspicions of corruption in the contracts of the liberated areas reconstruction project involving international employees of the UNAMI mission.
Aladdin said, “The matter will be investigated, and those involved in corruption files will be referred to the competent authorities, and all programs that have been worked on will be reviewed to find out the truth . ”
The British newspaper The Guardian had revealed what it called a “ sounding scandal” carried out by international employees of the UNAMI mission involved in corruption files in the contracts of the United Nations Development Program and the reconstruction project for the liberated areas . Pointing out that the workshops run by the United Nations Development Program are “frivolous” and lack strategic cohesion, and that those with influence in the program want to burn money and show donors that they are holding the workshops .
dijlah.tv
"RV UPDATE" BY MILITIAMAN, 23 JAN
Militia Man
Big push...They are finishing the reforms...But one of the things they need...is an international currency exchange rate. They haven't started pumping oil to the Cyan Port yet, why? Because they haven't had a customs valuation yet. Why haven't they gone to the WTO just yet? Because the WTO is going to need what? Valuation. What did they say they were going to bring in the short term?
The customs valuation with the WTO...They need big movements. They're going to need a Real Effective Exchange Rate. 1310 is radically different than what I believe a Real Effective Exchange Rate is.
Article "The ports discuss the operational plan for the years (2023-2024)" Al-Sudani told us this the year of achievements. Finishing the Port of Faw 100% this year will be flat out amazing. Having it 100% operational is going to bring massive revenue stream into the country for decades and decades to come.
The whole thing is basically doing what? Restoring confidence, engaging the private sector. Iraq's going to be going international. What we expect to see is that Iraq has an IMF article VIII compliant currency that has a Real Effective Exchange Rate (REER) that supports the value of the currency and does restore that confidence...Is 1310 exchange rate going to restore confidence? ...In my belief absolutely not.
Evening News with MarkZ. 01/23/2024
Specialists: Islamic Sukuk Are An Alternative To Financial Instruments, 23 JAN
Specialists: Islamic Sukuk Are An Alternative To Financial Instruments
Economical 01/23/2024 Baghdad: Hussein Thaghab Interest is growing in adopting Islamic sukuks as part of Iraq's strategic policy, as they are an important alternative to other financial instruments that depend on interest, and which can finance the deficit suffered by the federal general budget.
During the first annual conference, the Center for Banking Studies at the Central Bank of Iraq considered Islamic bonds part of Iraq's strategic policy.
He stressed the acceleration of the legislation of the “Islamic Sukuk Law in Iraq.” The participants also stressed the need to pay attention to developing appropriate legislation in order to make it successful in Iraq, and to make a media and promotional effort to spread the culture of investment in Islamic Sukuks among banks and financial institutions before the law is enacted.
Islamic banking specialist Professor Dr. Sadiq Rashid Al-Shammari pointed out that the advantages of sukuks are several, the most important of which is financing large projects that no single entity has the capacity to finance.
They are an investment channel for absorbing financial surpluses that their owners wish to invest and recover easily. They also contribute to managing liquidity in cases of deficit and surplus. If the bank has surplus liquidity, invest.
What he has in buying sukuks, and if he needs liquidity, he sells them with ease in the secondary market or the stock exchange, in addition to the fair distribution of wealth, because it links investment to reality and the real economy and enables all investors to benefit from the project’s profits in a fair way, as wealth is distributed on a large scale without Be a country among the rich, diversify your portfolio investments and spread your risks.
Investment sukuks mean that they are a document issued in the name of their owner or holder in denominations of equal value to prove the right of their owner to the financial rights and obligations they represent, and that they represent a common share in the ownership of assets designated for investment, whether objects, benefits, services, or a mixture thereof, and moral rights, debts, and money, and they do not represent debt. Issued to the bearer.
He added that the sukuk, especially the sukuk of leased assets, are characterized by being an off-budget financing instrument, as the leased assets are owned by the sukuk holders during the term of the sukuk, and the obligation of the sukuk holder is limited to paying the rent to the sukuk holders, which is a revenue expense.
On the contrary, in the case of borrowing to finance the purchase of some assets, this leads to... To increase the value of liabilities because they are capital expenditures, this type of sukuk also has zakat and tax advantages.
He pointed out that Islamic sukuks can attract customers by providing high-quality services and providing the necessary financing for them to activate their commercial, investment, industrial and agricultural operations.
They also provide sufficient liquidity available to dealing investors, which is the desired goal of creating trust and achieving security, that is, achieving actual cooperation between those with financial surpluses.
And project owners who use these surpluses and not transfer the risk to one party or the other by creating advanced products capable of competing with the products offered by traditional banks, provided that they do not conflict with the rule of Sharia.
The Director General of the Center for Banking Studies at the Central Bank of Iraq, Dr. Bassem Abdul Hadi Hassan, highlighted the importance of submitting the draft Islamic Sukuk Law to the House of Representatives, so he is keen to discuss the role of Islamic finance and the Sukuk market in particular as a vital financial tool that contributes significantly to development.
Economic.
He added that the Central Bank of Iraq has a major role in this process by proposing the Islamic Sukuk Law and providing technical and practical assistance to the relevant authorities in the Islamic banking sector, and therefore it has become useful to learn about international experiences in this field, especially Arab ones. https://alsabaah.iq/90893-.html
"RV UPDATE" BY MARKZ, 23 JAN
MarkZ
[via PDK] Comment: I believe the Iraqi dinar has to come back where it went out at. $3.22. And the VND has to come back to $2.27. According to the IMF? MarkZ: If you correct the VND back to its old value it would be about $2.21 to $2.30…depending how they adjust for inflation…but, yeah. This is why I believe certain values will make more sense. These follow historic norms for revaluations.
Question: Can you clarify who has the authority and final say on the RV of the Iraqi Dinar?
MarkZ: It is the US Treasury. But the UST is controlled by the western banking world elites….
That’s who has been stalling it. Iraq and BRICS has been doing everything to force them into a corner where they have no choice but to go. That is what we have been watching. It would have gone years ago if it wasn’t for the western banking world. Here in the US – the western banking elites representatives is the US Treasury... IMO they are doing everything right to force the US treasuries hand. Iraq told us in Dec. they would totally de-dollarize after Jan 1….
Iraq is again discussing the change in dinar value openly. This makes more than 4 articles etc…in the last week. They are expecting a major change in the valuation of their currency soon.Also still talking about pegging to a basket of middle eastern currencies in order to compete with the US dollar. Also in the news there seems to be big happenings in the Iraqi currency auctions. Bringing in much more dinar. They are making all the moves we expect to see just before a revaluation. They are telling us it is coming… it is very clear how close we are.
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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...