This essential drive, created under the EU and Germany co-subsidized project “Reinforcing Public Funds and Monetary Business sectors in Iraq (FFM)” and executed by the German Organization for Global Participation (GIZ), plans to offer strong help to private area endeavors the country over.
Mr. Healy lauded the far reaching vision of the Methodology, featuring its capability to organize different apparatuses fundamental for driving positive change inside Iraq’s banking and monetary scene really.
The drive addresses a deliberate work to fortify the country’s monetary system and advance practical development through improved monetary instruments.
Article: "Association of Banks: The joint committee with the American side will begin its work next month" Quote: "The head of the Iraqi Private Banks Association, Wadih Al-Handal, confirmed today, Wednesday, the effort to open more prospects for work with correspondent banks, while indicating that the joint committee with the American side regarding the banking sector will begin its work next month"
Article: "Economist: The budget is not affected by the dollar exchange rates... and explains why" Quote: "...because Iraq will receive the dollar from oil exports, and on the contrary, revenues increase with the increase in dollar prices globally...market obligations are dealt with in the Iraqi dinar, and there is no dealing in the dollar, and the budget is built primarily on the Iraqi dinar and not on the dollar, so the budget is never affected by the dollar exchange rates .”
Article "The Central Bank of Iraq "denies" issuing a currency in the category of (100) thousand dinars" Quote "The Central Bank of Iraq denies issuing a new currency in the denomination of (100) thousand dinars, indicating that the image of the new currency circulated on social networking sites is a “fake” image bearing the image of the late Iraqi architect Zaha Hadid"
Article: "In light of the Middle East conflict, the World Bank expects oil prices to exceed $100" Quote: "The bank said in a report published today that a severe price disruption could lead to oil prices exceeding $100 per barrel, which would increase inflation in 2024 by about one percentage point."
Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"
Quote: "The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."
Article: "The Central Bank begins the second phase of its banking reform strategy"
Quote: "what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably"
Article: "Notice on the Continuation of the National Emergency With Respect to the Stabilization of Iraq"
Quote: "The obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States...I am continuing for 1 year the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303."
Article: "The Central Bank begins the second phase of its banking reform strategy"
Quote: "what will be achieved from the second phase of the banking reform strategy will be reflected in the stability of the exchange rate and the recovery of the Iraqi dinar inevitably"
Labor announces the launch of social assistance for the month of June 2024
The Service of Work and Get-togethers declared today, Sunday, the send off of the social help compensation for the ongoing month of June for multiple million (118) thousand families with an aggregate sum adding up to more than (462) billion dinars.
The top of the Social Security Authority, Ahmed Al-Moussawi, made sense of in an explanation from the service got by that “the quantity of covered families headed by men arrived at more than 1,000,000 (155) thousand families, with a sum adding up to more than (375) billion dinars.”
He brought up that “the quantity of families headed by ladies is more than (567) thousand families, adding up to more than (87) billion dinars.”
He approached “families to visit the dispensing outlets to accept their guide.”
These are the types of concepts I intend to explore in the future seminars I hope to conduct.
A Charitable Religious Trust and some applications for an income stream the family or members
of the CRT cannot outlive.
•Census Husband, Wife, 2 Natural Children, 1 Adopted Child, 1 Daughter in Law, and 3
Grandchildren.
•Ages 76, 72, 44, 36, 35, 37, 11, 8, and 4
•All above listed are included in the CRT
•All Adults listed above also have individual Living Trusts in their own name and under
separate EIN's.
The Husband and Wife own multiple currencies, the children own one currency each, all of which
has been gifted to the CRT under Notarized and Affirmed Gifting Letters.
The Infinite Banking concept using Mutual Whole Life contracts, Immediate Annuities, and Tax-
Exempt Bond Funds. All owned by the CRT but ensuring the individual members starting with the Grandchildren, then the children and daughter in law.
Purchase whole life policies on Grandchildren realizing you must pay 4 out of the first 7 years premiums to avoid the policy being recognized as a Modified Endowment policy vs Whole Life.
You then load up the Cash Values on these 3 policies to the maximum allowed based upon the respective face amounts of coverage for each. You then repeat these steps for the other 4
children listed.
The CRT as owner of these contracts can then take the maximum loan out against all the contracts at a simple interest rate of 5% while the borrowed funds will be credited with the guaranteed base earnings of 4.5% so your loan cost is ½ of 1 percent.
You then purchase Immediate Annuities on all the insured children and grandchildren with the monthly cash flow credited in checking accounts established for each member by name under the CRT. As these funds accrue and you reach a value more than $10,000.00 in each respective bank account within the CRT you direct that account to purchase in the secondary bond market Government Guaranteed Tax Exempt Bond Funds that pay a monthly distribution.
The purpose of the secondary market is you are purchasing $1,000.00 face amount bonds at a discount meaning you are paying less that a 1,000.00 per bond but being paid interest on the 1,000.00 plus at maturity of the bond you will realize a capital gain of the difference you paid at purchase under the maturity value of $1,000.00. Example you acquire 10,000.00 bond value for a discounted purchase price of $7,500.00 so at maturity you get the maturity value which is
$2,500.00 over what your cost was in acquisition.
Since your children are going to assist the CRT in various humanitarian projects you undertake the CRT can assist them with various expenses such as home office, transportation requirements, various meetings they may need to attend to remain abreast of any changes in the laws controlling these entities as well as monitoring the monies being released.
Finally, as the funds accrue within the CRT those funds are invested to ensure the CRT remains a viable and functioning operation well into the future.
Al-Gharibawi: The budget favored the region politically
Today, Sunday, Agent Bassem Al-Gharibawi thought about the presence of political blessings in the area’s spending plan portions.
Al-Gharibawi told, “The governorates didn’t get adequate portions for their ventures as opposed to the sums distributed to the district, as these governorates are considered responsible based on the genuine consumption from the financial plan, and the computation of what each governorate spends from the sums dispensed to it reasonably affordable.”
He made sense of, “There are legitimate commitments laid out by the Government Court towards Kurdistan with respect to monetary issues and incomes, and these choices should be carried out accurately.”
He added, “The area has not satisfied its commitments to the central government, as far as oil imports and different incomes, which requires not conceding it around 17% of the spending plan, notwithstanding not getting portions from the genuine use.”
That’s what he expressed “there are political blessings towards the locale to the detriment of the remainder of the governorates, and this matter was finished because of political tension, while some governorates were distributed in excess of 80 billion, and this spending plan isn’t adequate for one of their undertakings, requiring a reexamination of the portions for these governorates.”