In March the UN will be submitting their official, 'We're done', 'we're ending our mission in Iraq' report to Iraq...After Iraq has revalued is when it gets submitted and turned over to the Iraq government...
What was the number on thing in the month of January Iraq kept stating in all the news articles?
How they achieved critical stability. In order for Iraq, the number one thing they have to do is achieve overall stability, to be eligible to revalue. Article quote "For Iraq to further continue on the path of stability and progress, an enabling environment will prove essential"
She's stating Iraq is on a path of stability and progress and continuing in that direction will prove essential. Meaning allowing them to revalue the currency and get back on the world stage.
Prime Minister Mohammed Shia Al-Sudani confirmed today, Friday, during the ceremony of the opening of the North Refinery in Baiji, that this refinery will return to be a personal witness to the will of the Iraqi people.
Al-Sudani said in the text of his speech during the opening: “We stand with respect and respect for the martyrs and wounded who defended this land and liberated the refinery from ISIS gangs.”
Al-Sudani added: “We visited this refinery in May 2023, to see its reality and stand on the recovered equipment and machinery, which came at the initiative of citizen Baran Ahmed Younis and with the cooperation of the Kurdistan Regional Government of Iraq,” noting that “Iraq with its production of more than 4 million barrels per day is still importing oil derivatives, a policy that has been in place for decades.”
He pointed out that “with this achievement, we are close to securing the full needs of the country of derivatives, no later than the middle of next year,” pointing out that “billions of dollars will be saved and monitored for other service and economic aspects by stopping the import of oil derivatives, and this is the real reform.”
Al-Sudani continued: “The will and determination of the champions in the North Refineries Company, and the supporting national companies, achieved this national achievement in 7 months, and it is assumed that the time limit may take 3-4 years.”
He continued: “The government has put the oil and gas sector at the top of its priorities, according to programs and plans studied on the importance of investing this wealth, in order to achieve the best returns,” stressing that “projects are implemented for the first time, such as the investment of associated gas, and today international companies, and the national effort are working in more than one site and a field, to end the burning of gas within a period of 3-5 years.”
Al-Sudani added: “We are preparing the plan for investment projects inside and outside Iraq in a new policy that we adopt by investing oil in the petrochemical and transformational industries; to get the greatest return.”
“The Baiji refinery returns to be a personal witness to the will, determination and determination of the Iraqi people,” he concluded.
Frank26:"ALL THE CBI MEETINGS AROUND THE WORLD... ONLY TALK ABOUT THE MONETARY REFORM OF IRAQ"........F26
The Central Bank of Iraq hosts a technical workshop for the General Council of Islamic Banks and Financial Institutions
February 20, 2024
The Central Bank of Iraq hosted a technical workshop on governance and compliance in Islamic banks and financial institutions, organized by the General Council of Islamic Banks and Financial Institutions.
The workshop, which was attended by a number of representatives of Islamic banks and financial institutions, regulatory bodies and supervisory authorities, and international organizations, discussed governance and compliance in Islamic banks and financial institutions, supervisory methodologies for continuity and development after crises, challenges of governance and compliance in Islamic finance, as well as risk management practices. The workshop saw the work program carefully designed to integrate theoretical frameworks with practical applications in the field of governance, compliance and risk management to ensure maximum benefit for participants.
For his part, Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, stressed that the success of the workshop underscores the growing importance of Islamic finance in Iraq, considering that “hosting this workshop reflects our fruitful cooperation with the General Council in order to encourage best practices for governance and compliance within Islamic financial institutions.” in Iraq".
In turn, the Secretary-General of the General Council, Dr. Abdul-Ilah Belatiq, said, “Through this distinguished initiative, we reflect the joint commitment between the General Council and the Central Bank of Iraq in developing the principles of governance and compliance in the Islamic financial industry,” looking forward to “more cooperation and constructive work to strengthen and develop the financial industry.” Islam in the region.
Central Bank of Iraq Information Office 20 - February - 2024
The Governor of the Central Bank of Iraq, Ali Al-Alaq, on Thursday, described the subject of electronic levies as “the important link”, and while referring to the advantages of the levy, he stressed the commitment of the Central Bank to support this initiative.
Al-Alaq said in a speech during a workshop organized by the Association of Iraqi Private Banks, and attended by the correspondent of “Economy News”, “The launch of the electronic levetation project comes as a translation of the commitment of the Central Bank, banks and financial institutions under the control of the Central Bank to implement its vision and strategic objectives to develop the banking financial sector in Iraq.”
He added, “The project will contribute significantly to enhancing government resources and collecting them in a reliable, secure and transparent environment, relying on the infrastructure in payment systems and electronic payment platforms provided by the Central Bank and providing payment services.
Al-Alaq explained that “this project generally targets all government ministries as well as non-governmental, unions and associations in which the amounts are collected,” pointing out that “this project will enable the automation of all collection processes, the adoption of electronic payment tools and the reduction of cash transactions, which in turn will help to alleviate the shoulders of citizens by accelerating the completion of transactions.”
The governor of the central bank explained that “customers can choose the time and place they want to pay the bills and that this would save time and effort and provide payment services to citizens through multiple payment channels with a high degree of confidence and security.”
He pointed out that “this increases collection rates, reduces costs, reduces the risks of cash dealing, raises the efficiency of the service provided to the citizen and obtain integrated data and reports,” considering “electronic collection is an important link that seeks to reduce the phenomenon of the monetary economy, which the Central Bank seeks to work on at several levels in order to optimize the use of transport and expand financial inclusion.”
Al-Alaq stressed that “the Central Bank affirmed its full commitment and partnership with its colleagues to support this initiative by supporting the growth and use of the local economy while maintaining its stability and status through cooperation and a meaningful challenge.”
Frank26: "THIS SUBJECT IS ONLY BECAUSE THERE IS NO USD TO USE & THE 3 ZERO NOTES ARE WORTHLESS IN IRAQ. SO WHERE'S THE LIQUIDITY?... IN THE LOWER NOTES THAT ARE ABOUT TO BE INTRODUCED".........F26
Al-Alaq denies to Al-Iqtisad News the existence of a liquidity crisis in the Iraqi dinar
2/22/2024 Baghdad
The Governor of the Central Bank of Iraq, Ali Al-Alaq, denied reports that there was a problem in providing the dinar.
Al-Alaq said in his speech to Al-Iqtisad News, on the sidelines of the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association, today, Thursday, that “everything that is being raised about a problem in providing the Iraqi dinar, or a liquidity crisis, is not true.”
He added that the Central Bank did not stop for a single moment in responding to the Ministry of Finance’s liquidity requests. LINK
