In 2023… fines from the Iraqi Central Bank on banks and banking companies amounting to approximately 141 billion dinars
Shafaq News/ The Central Bank of Iraq revealed, on Wednesday, that it had imposed financial fines on banks and banking companies exceeding 140 billion dinars during the past year 2023.
A bank table, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past 12 months amounted to 140 billion, 924 million, 318 thousand and 901 dinars.
He stated that “the fines also included 402 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods.”
According to the table, last April witnessed the highest rate of fines for banks and non-financial institutions, amounting to 17 billion, 440 million, 383 thousand and 447 dinars, with administrative penalties amounting to 17 penalties, while last November witnessed the lowest rate of fines, amounting to 8 billion, 337 million. And 645 thousand and 628 dinars with 8 administrative penalties.
The table did not show the names of the banks on which fines and administrative penalties were imposed.
In early June, the Iraqi Stock Exchange Investors Association criticized the Central Bank of Iraq’s increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.
Shafaq News/ Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani ratified the recommendations of the specialized committee to establish a fixed platform for imported gas in the Grand Al-Faw Port, which is the first of its kind in the national oil and gas sector and its related infrastructure.
This came during his chairmanship, this morning, of a meeting devoted to following up on the procedures for implementing and operating the fixed platform for importing gas, which was approved by the Council of Ministers. To ensure the continuity of gas supply from multiple sources and to fill the shortfall in the operation of electrical stations, according to a statement issued by the Sudanese Media Office.
The statement quoted Al-Sudani as saying that initiating this vital project would not have been possible without the great progress made in the completion of the Grand Al-Faw Port project, and the imminent entry into service of its berths, and it falls within the government’s efforts to solve the problems of gas supply, end the obstacle of imported gas, and move completely to Reliance on gas produced from national fields.
The statement added that the approved recommendations submitted by the committee composed in this regard included inviting a reputable international consulting company to supervise the technical and commercial aspects, and directing invitations to establish a fixed platform for importing liquefied gas in the Grand Al-Faw Port, with all the infrastructure for this project, and connecting it to the national pipeline network. .
First the bad news of today. This news is negative because it impacts the SECUIRTY of Iraq. We all have read articles from the CBI that they needed SECURITY and STABILITY in order to conduct the final stages/steps of the monetary reform. So, the US Treasury Department announced, on Monday, the designation of no-fly sanctions on the Iraqi airline “Fly Baghdad” and its CEO providing assistance to the Iranian Revolutionary Guard “Qods Force” and its proxy groups in Iraq, Syria, and Lebanon. You can read the full article below in the Articles Section.
The second piece of negative news is that on Monday, a number of citizens of the Kurdistan Region expressed their support to call a boycott on Iranian products. This was announced by the Erbil Chamber of Commerce, after the capital of the Kurdistan Region as it was subjected to a violent Iranian attack. While they described the boycott as “economic punishment” for Tehran, they stressed that the boycott will be a popular response to the “crimes” committed by Iran against Iraq in general.
You can read the full article below in the Articles Section. So, you see President Trump was right again. You have to place economic sanctions on Iran as it is the only way they learn to behave. Can Iraq find these products elsewhere? I am so happy that finally Iraq is facing Iran for what they are. Maybe these attacks on their cities and the US forces finally woke them up to reality. But didn’t I tell everyone way back in 2004 that if Iraq so freely lets these Iranian militia in to their country to fight ISIS this will come to haunt them for a very long time.
One would think there should have been agreements in force at that time that would have expelled these militia from Iraq after the defeat of ISIS. This would give Iraq legal justification now to expel them, by force, if necessary. Remember reading all these articles over the decade since from Iraq on what the hell to do with all these thousands of armed militia. They are taking the jobs of Iraqi forcefully and forming gangs to enforce their will. Remember they are armed. This is the Iranian way of trying to force Iraq to get rid of any American combat troops in Iraq. Get rid of the US forces and the attacks will stop, they claim. Really? Oh… boy would hey luv to fill the gap and occupy Iraq permanently. Maybe now Iraq is waking up to just how horrible the Iranian dictator is. So far Iraq has been very patient with Iran as they are their major trading partner and so -called “Muslim brothers”. But patients are growing thin with Iran and we can see it beginning now.
These bombings in Erbil also hurt the Iraqi economy says an expert in economic and tourism affairs, Sirwan Ibrahim, confirmed today, Monday (January 22, 2024), that Erbil has been, during the past period, a stop for tourists and businessmen from countries around the world who want to establish projects in Iraq and make Erbil their headquarters and depart from there to other governorates. Ibrahim told “Baghdad Today” that “Erbil was a station for holding seminars, workshops, and courses for international organizations,” noting that “all of these matters contribute to reviving the tourism sector, as they use hotels, restaurants, markets, and the city’s airport.” So, we can see how this Iranian bombings must end and stability returned back to Iraq.
While he noted and I quote – “If this conflict continues, it will decline further because tourists will search for other alternatives, in addition to the bad economic situation that the city in particular and the region in general is going through.”
So, here is the good news. 😊 These events are NOT going to stop the Iraqi dinar currency reform as part of the financial reforms. Why? I have already told everyone in past news from my CBI contact that the currency reform is beyond the stage already to be able to appropriately stop it. There is just too much at stake not to continue the process. It is moving ahead, however these events may just delay it, NOT stop it. Remember I was told they fully intended to conduct the Project to Delete the Zeros last December and to reinstate the dinar in early January. Can you see how events have impacted their plan but not stop it. I intend to verify again these statements are still true with my CBI contact on my Wednesday call to Iraq. Stay tuned!
I hope everyone is excited I am excited! Things are definitely happening. Things I can’t say. God has heard our cry and heard our suffering. Finally, God is answering our prayers. Soon it will be our turn to celebrate.
For bondholders there will be no green light it will just happen! For currencies, you will get notifications and I will release the opera. There is a lot happening in Zurich, reno, other platforms. I have been on a lot of emotional calls and these are NOT small players, they are huge players, i.e.; St. Germaine, huge foundations.
Remain in faith. Believe this is happening! We always said things would start on a Tuesday and we are seeing that already! I have been told tomorrow is a good day!!!! Pentecostal is doing great.
God Bless you. Never, ever lose hope. Love you guys. Wolverine
