Thursday, May 9, 2024
Parliamentary Integrity: Foreign oil companies violate Iraqi laws, 9 MAY
Parliamentary Integrity: Foreign oil companies violate Iraqi laws
An individual from the Parliamentary Honesty Board, Ahmed Taha Al-Rubaie, censured the unmistakable lawful infringement committed by organizations working in the oil area in Basra by not supporting the authority identification.
Al-Rubaie said, in a meeting followed by that “the Wellbeing, Security and Climate Authority visa gave by the Basra Oil Organization and acquired by working Iraqis isn’t supported by the oil organizations working inside the permitting adjusts, despite the fact that the authority identification permits them to work.” ” Yet, it isn’t stuck to, particularly in the Rumaila field.” He brought up that “most organizations depend on oil licenses gave by the Rumaila Field Enlistment Authority or the West Qurna Field Working Power, Majnoon Field, or Zubair Field, and this grant is given by these bodies.”
He brought up that “Iraqi laborers find it hard to get a wellbeing identification gave by them, as it is troublesome and confounded and costs residents enormous amounts of cash because of the distance of these oil destinations from their places of home, notwithstanding the way that the most common way of acquiring the visa requires a few days of going this way and that to the locales of those organizations.”
"RV UPDATE" BY PAULETTE, 9 MAY
Paulette
Community Comment: "Iraq on May 9 ascends to FULL membership in the WTO" I hope you are correct regarding the WTO. However, the documentable facts and articles regarding this issue would say otherwise. Don't misunderstand, the documentable facts and articles are EXTREMELY positive. Iraq, under Sudani appears to be serious about becoming WTO members, opening the country to International trade, moving from a Rentier Economy to a Market Economy and finally implementing the Delete the Zeros Project. Everyone should be excited even if it takes months more to accomplish.
Article: "Specialist: Floating the dinar is economic suicide" As Saleh was stating but only stronger wording.
Article: "Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy" Quote: "The visit comes in a very heated situation and everyone is awaiting its outcomes, and the Sudanese carries...ideas and projects that move towards consolidating the relationship with the American side and transferring it from the process of guardianship to friendship...In a way that allows Iraq to assume its pivotal role in the region. " As I have been stating...Iraq needs the US Guardianship to end!! (UN 1483)
Article quote: "Two Iraqi and American sources said that Prime Minister Muhammad Shiaa Al-Sudani will spend a week in the United States, including discussions with President Joe Biden, and a tour of 3 states." Will one State be Florida???? Mar-a-Lago???
IMO UN resolution 1483 will have to be lifted to allow Iraq to be totally sovereign as it established the US and UK as "occupying forces"...This is in essence "Guardianship" or "Receivership"...Absent the lifting, the US has to give Iraq permission to do most anything Internationally including "currency reinstatement"...I am hopeful that internal control of the money structure is exclusively in the hands of the CBI so they can at least move to the RD/RV stage of their monetary reform...If not, the upcoming US visit of Sudani may very well be pivotal... Saleh...recently stated he was unsure of the status of 1483 according to news articles...
This is clearly what the article said... They are weighing changing the rate from 1,320 dinars per dollar to 1.32 dinars per dollar. This is clearly 76 cents to 1 IQD...Currently the rate is 1,320 IQD to 1 USD. Looking it at the other way, this is 0.0007575 USD to 1 IQD. If they drop 1 zero from the exchange rate: 132.0 IQD to 1 USD or 0.007575 USD to 1 IQD. If they drop 2 zeros: 13.2 IQD to 1 USD or 0.07575 USD to 1 IQD. If they drop 3 zeros: 1.32 IQD to 1 USD or .7575 USD to 1 IQD. Therefore, 1.32 IQD to 1 USD is 76 cents to each IQD
...What we want to see posted on the CBI website as to how many IQD are required to purchase 1 USD is 1.00 or less. If they post 3.22 IQD to 1 USD, this would mean 31 cents per 1 IQD.
We want them to post .31 IQD to 1 USD which is then 3.22 USD to 1 IQD. Realize, they post how many IQD it takes to purchase 1 of another currency.
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-14-march.html
Community Comment: "...The rate doesn't matter but "freedom of movement of capital" is important. That is Article 8 compliance." They cannot be Article 8 compliant if the country is functioning under a MCP. A MCP [Multiple Currency Practices] includes a parallel rate of greater than 2% of the official rate by IMF definition. Saleh said last year that the parallel rate is "REQUIRED" to be 2% or less of the official rate...This 2% or less needs to be maintained for a period of 90 days. The parallel rate is still around 14% difference.
Question: "I thought they met all the requirements [to join the WTO]?" All the articles say they have legislation that needs to be passed and the next meeting is in the "middle of the year.
Question: "When is Iraq supposed to be in the WTO?" Not before they pass needed legislation, eliminate the MCP [Multiple Currency Practices] and are recognized as having accepted IMF Article 8 obligations. Accession Committee next meeting with Iraq is planned for the "middle of the year".
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-paulette-11-march.html
ILO, CBI promote financial literacy in southern Iraq, 9 MAY
ILO, CBI promote financial literacy in southern Iraq
Along with the Italian Organization for Improvement Collaboration (AICS), the Worldwide Work Association (ILO) and the National Bank of Iraq (CBI) are chipping away at engaging individuals and organizations in southern Iraq with monetary proficiency abilities.
Seven days in length program named ‘Towards Empowering Reserve funds to Improve Monetary Consideration’ sent off last week in the governorate of Al-Muthanna is in accordance with the CBI’s bigger Monetary Incorporation Week drives for 2024.
With the backing of the ILO project ‘Towards More and Better Work through Improved Help to Private Areas in Southern Iraq with an Emphasis on Green Business,’ the drive widens the continuous organization between the ILO, AICS, and the Iraqi government to progress nice work, green positions, and a practical future in the south.
The program intends to prepare southern Iraqi residents — particularly ladies and youngsters — with the monetary education abilities they need to save, contribute, and extend green ventures, which supports financial development and creates good open positions for everybody.
The AICS accepts that monetary incorporation is basic to making an economical and comprehensive future. With its help, the program can give individuals and organizations the data and assets they need to participate in the monetary framework appropriately.
To make everyday monetary exchanges simpler and more effective, the CBI intends to empower individuals and organizations to get to banking administrations through a scope of channels, including computerized applications and online administrations.
The CBI moreover advances the utilization of electronic installment instruments, for example, bank cards and electronic wallets, to accomplish quick and productive monetary joining.
During Monetary Consideration Week in southern Iraq, in excess of 500 young fellows and ladies partook in the projects.
"RV UPDATE " BY MARKZ, 9 MAY
MarkZ
[via PDK]
The crackdown has been extreme on leaks …Which is probably the best news of the day. I personally think they are trying to keep things quiet right here at the finish line.
I did have multiple bankers over the weekend get notified and are beginning training today. They are “Training to handle foreign currency exchanges”. Some of the currencies mentioned are exactly what we are holding...And they are being trained on them...They need to know the security features on the various bills in order to verify them on site. That is what they are training on... NOW - THIS WEEK-IMMEDIATELY!!! These are banking people who have never been trained before…these are some of the ones the banks had told them “No, this is never going to happen” and now suddenly the banks come to them and say “You have got to get trained now - this week - immediately”...Gave me a good warm and fuzzy feeling today.
There was interesting money movement over the weekend according to my best group contacts. It is clearly positioned to go...
Article: “Kuwaiti Dinar to US Dollar-Top 10 highest valued currencies in the world in 2024”
This article was in the Indian Express. And the Iraqi dinar used to have that number one spot. Comment: I would expect Iraq to be worth more that Kuwait. MarkZ: Absolutely. And when Iraq was the most valuable currency in the world they had not yet developed their natural gas reserves…and were not pumping nearly as much oil as they are now. Every part of Iraq is now in better shape than when they had the most valuable currency in the world.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-markz-8-may.html
FIREFLY: THEY'RE SAYING THE DOLLAR PLATFORM WILL STOP AND THERE;S A SHOCK THAT'S COMING WHEN THIS HAPPEN, 22 DEC
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Television is talking about the dollar exchange. FRANK: of course they are. Tha...
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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...