Friday, May 24, 2024
"KTFA FAMILY WHAT DOES THIS TELL YOU?" BY FRANK26, 24 MAY
Statement issued by the Presidency of the Anti-Money Laundering and Terrorist Financing Council
May 22, 2024
Statement issued by the Presidency of the Anti-Money Laundering and Terrorist Financing Council
The report stressed understanding the risks of money laundering and terrorist financing, and the effectiveness of implementing measures to combat these crimes, including international cooperation and confiscation of proceeds of crime, as well as investigation and prosecution.
The Presidency of the Anti-Money Laundering and Combating the Financing of Terrorism Council takes advantage of the opportunity to extend sincere thanks and appreciation to His Excellency the Honorable Prime Minister and the Honorable President of the Judicial Council, for the support they provided to raise the evaluation process, as well as to extend its thanks to the members of the Anti-Money Laundering and Terrorist Financing Council and the Anti-Money Laundering and Terrorist Financing Office. Money and terrorist financing, and all judicial and governmental bodies and all formations of the Central Bank of Iraq, which have contributed and worked over the past two years to provide the evaluation requirements in a way that reflects the real reality of effective judicial and government procedures in developing the system to combat money laundering and terrorist financing.
Chairman of the Anti-Money Laundering and Terrorism Financing Council,
Governor of the Central Bank of Iraq
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An International group removes Iraq from the “notorious” financial list
5/22/2024
On Wednesday, the Middle East and North Africa Financial Action Task Force (MENAFATF) classified Iraq as a country highly committed to the recommendations for combating money laundering and terrorist financing.
The media center of the Iraqi Supreme Judicial Council stated, in a statement received by Shafaq News Agency, that the organization decided, in its general meeting held in the Kingdom of Bahrain for the period from May 19 to 23, to consider Iraq as one of the countries highly committed to the recommendations of the Financial Action Task Force (FATF). The field of combating money laundering and terrorist financing.
He stated, "The residents' report on Iraq and the adequacy of the procedures followed by the Iraqi authorities in the field of combating money laundering and terrorist financing was accepted."
He pointed out that accepting the residents’ report “means that Iraq will continue to not be included on the gray list, which is the list of high-risk countries in the field of combating money laundering and terrorist financing, after the Iraqi team succeeded in convincing the general meeting of the MENA FATF of the adequacy of the measures taken by it in this field.” ".
The media center explained that the two deputy presidents of the Karkh Court of Appeal, Judges Ali Hussein Jafat and Dhia Jaafar, and the deputy president of the Rusafa Court of Appeal, Judge Iyad Mohsen, participated in the meeting with a group of representatives of the Anti-Money Laundering Office at the Central Bank of Iraq, as well as representatives of the rest of the relevant Iraqi institutions. Relevance.
"RV UPDATE" BY FRANK26, 24 MAY
Frank26
A second set of books is a normal business action. Many companies, many firms for financial projections, for balances, for audit purposes, for changes whatever it may be, run a second set of books. The second set of books is simple business practice. It's not illegal unless you're doing it illegally under the table...This second set of books is not hidden...they [Iraq] expose it [their second second set of books] to the right people, IMF, World Bank, US Treasury...
Question "What does your gut say the rate will be in the end?" Remember I said IMO the float would probably be between $3.36 and $4.25 would be a good place to cap it.
Is Iraq a member of the WTO?
'Well, Frank you say they're a member of the WTO, they qualified for it.' But do you see any official paper that tells you they're a member of the WTO. 'No.'
Why not?
Until you see the new exchange rate. 'But you don't have to have a high exchange rate to join the WTO. Why do you say something like that?' Because commitments were made in contracts that were guaranteed by Sudani for all these people through the WTO investments for the economic reform of Iraq.
Securities: We are studying the possibility of licensing brokerage companies to trade in global stock exchanges, 24 MAY
Economy News – Baghdad
The Chairman of the Securities Commission, Faisal Al-Haims, confirmed today, Wednesday, that the Authority is considering the possibility of licensing brokerage companies to trade in the shares of global exchanges.
“The authority began studying the licensing of brokerage companies to trade in global stock exchanges through a technical committee within it,” Al-Haims said in a statement received by “Economy News”.
He added, “The authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade the shares of global stock exchanges for the first time in Iraq.”
He explained, “This step comes in the context of protecting citizens’ rights to trade through brokerage companies that practice this activity without an official license by the Securities Commission, which seeks to develop financial markets in the country,” noting that “the authority is working to provide a stimulating and orderly investment environment, which contributes to enhancing confidence among investors and raising Iraq’s position in the global financial markets.”
"RV UPDATE" BY MILITIAMAN, 24 MAY
Militia Man
Are they going to change the value of their currency...? I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310. It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...
Iraq...increased their non-oil revenues by 6%. That in itself is a massive amount. Is it going to grow?
Of course it's going to grow. They're just getting started. It's going to be amazing.
Article: "The Central Bank begins the second phase of its banking reform strategy"
They've completed the first phase of reforms and now into the second phase.
Quote: 'It will inevitably bring stability and the recovery of the dinar.' This is amazing...There's some things happening that obviously are beyond our pay grade that are almost available and ready to go. This article...'...inevitably the exchange rate will be in recovery.' To me that means they're going to go back to that 'previous era'. That would be a recovery. Going from 1460 to 1310 or from 1310 to 1182, that's not 'recovery'...Second phase is that we're at that juncture.