When people say they have to be article VIII compliant, they have to delete the 3-zeros, they make it sound like it's a mandate. They don't have to delete the 3-zeros. It's idealistic if they do but they don't have to delete the 3-zeros...No where does it say it's mandated.
There is a lot of good news out there for Iraq. But you can't keep reporting the good news and saying that's the reason why it's going to be reinstated at $3.22. There's no way they can carry out all these projects because they can't afford to. That's a lie. They've already calculated it in their budget the necessary money needed to do these projects. They did it at the current rate. Don't fall for that crap.
I never said it's not going to happen. It absolutely will but it's going to go up in increments IMO. Is Iraq doing what they need to do to get back on track? They are. What are the biggest hurdles? They need to do something about corruption...Unless these things change we're going to have a hard time getting to where we're trying to...change the exchange rate.
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 .
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.
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
Mod: HELLO EVERYONE! HOPE YOU ALL ARE HANGING IN THERE.
Member: Good evening Mark and Mods. Got good news tonight Mark?
MZ: There is an enormous piece of news I bet is already swamping the boards .Somewhere in the last 48 hours appearing on the website of the Bank of International Settlements (BIS) .
MZ: “Central Bank and Monetary Authority Websites” Scroll down and click the “I” button. In Iraq they have made it to the BIS website now as a “Central Bank” I believe this is an enormous sign that we are about to see a “boom “ in the World Trade Organization. To me this is a big one.
Member: When the IQD goes into a basket- will it go up or down within a few days?
MZ: It will immediately go up …you won’t see a dip when the attache to the foreign basket of middle eastern currencies. .
Member: TNT Tony says Friday thru Sunday
Member: If it comes out 1 to 1. I’m out of here headed to bank !
MZ: This one –well, I don’t know how seriously to take it …I will send it to my best “litmus testers” and see what they think… “Insider Info: 400 thousand Wells Fargo and HSBC emails unleash financial redemption and skyrocket Zim bond wealth” This is from Gazette Teller. This certainly hits the right sound buttons but may be us getting “trolled” So don’t read to much into it.
Member: I have a cousin …VP for bank said yes to new currency but is under NDA
Member: Do you think we are going to have a Debt Jubilee?
MZ: Yes I do. If you follow history you will know we are going to have a debt jubilee. Economists from all over the world tell us the only way forward is with a debt jubilee. The world wide debt load is untenable.
Member: Envision the world that you want and see yourself living in it, manifest what you want
Member: I can feel it in my fingers, I can feel it in my toes, RV is all around us and everybody knows”
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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