Article: "Oil slides to four-month lows as OPEC+ deepens bearish sentiment" If oil prices continue to fall, where is the incentive for Iraq to increase their exchange rate?
When a currency does a re-denomination and they remove the zeros and they release new bank notes, guess what? The old bank notes are no longer any good. I've been preaching about that when it comes to ZIM dollars and if it happens to the Iraqi dinars.
Pay attention, this is the youth of Iraq. They're very very hopeful. Like I said before, even if they delete the zeros that doesn't mean all is lost.
If you really believe Iraq's currency is going to be the strongest in the world, if you believe they're going to have one of the best economies in the world then just hold on to the currency. These are people who live over there.
They're telling you for the next 20 years Iraq is going to be booming. And I'm not talking about conflict, I'm talking about the economy.
FRANK26:"FROM IFC TO KFC THE WORLD POURS INTO IRAQ"...........F26
Iraq signs an agreement with "IFC" to develop the stock market
6/12/2024
Baghdad
On Wednesday, the Securities Commission announced the signing of an agreement with the International Finance Corporation to develop the securities market, indicating that this agreement will bring investments and achieve sustainable development.
The head of the authority, Faisal Al-Haims, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that “the authority signed an agreement to develop the work of the Iraq Stock Exchange after discussions with the International Finance Corporation IFC,” indicating that “the agreement is advisory related to corporate governance and best practices.” Required by companies listed on the Iraq Stock Exchange.
He added, "This contract will be reflected on the Iraqi stock market at the international level, bringing investments and achieving sustainable development according to the plan of Prime Minister Muhammad Shiaa Al-Sudani."
He pointed out that "the project is the first cooperation between the Securities Commission and the International Finance Corporation," stressing that
"there are other projects with them in the future."
For her part, Amira Ajaj, responsible for corporate governance and environmental and social standards programs in the Middle East region of the International Finance Corporation, affiliated with the World Bank, expressed her
“pleasure with the signing of the agreement in a way that guarantees the authority the use of international expertise from the International Finance Corporation (IFC), affiliated with the World Bank.”
She continued, "The agreement will establish regulatory frameworks for practicing governance for environmental and social standards, which will reflect positively on the listed companies in terms of improved performance and sustainability, and will put Iraq on the path to further development and progress."
The Securities Commission signs an important agreement with IFC...with these details
6/12/2024
Today, Wednesday, the Iraqi Securities Commission signed an environmental, social and corporate governance guide agreement with the International Finance Corporation (IFC) (an organization affiliated with the World Bank). The authority stated in a statement, a copy of which {Al-Furat News} received, that: “The aim of the agreement is to enhance and develop the investment environment in Iraq by improving environmental, social and governance regulations and frameworks to comply with international standards, enhancing the ability to implement and supervise their implementation in Iraq and contributing to increasing attractiveness.” Investment in the Iraqi Stock Exchange environment.
She added, "To achieve this goal, there will be coordination with the Iraq Stock Exchange through the supervision of the Iraqi Securities Commission to develop an environmental, social, and corporate governance guide to support improving the performance of listed companies, and put Iraq on the path towards a strong and sustainable economy, as the agreement included a mechanism for arriving at a mandatory guide for implementation." On companies listed on the Iraqi Stock Exchange. The head of the authority, Faisal Al-Haims, said, “Preparing a social, environmental, and corporate governance guide through a partnership with the International Finance Corporation improves the Iraqi investment environment by adopting international standards that develop the current investment environment in the Iraqi Stock Exchange. Following the environmental and social governance framework Corporate governance makes companies listed on the Iraqi Stock Exchange more transparent, better performing, and more attractive to foreign investments.”
He stated that "the subject of environmental, social and corporate governance will be one of the axes of the national strategy for investment awareness and supporting the investment culture that the Authority is working to achieve and will be announced on October 1 of this year."
For his part, Aftab Ahmed, IFC Regional Director for the Middle East, Pakistan and Afghanistan, said, “We are excited to partner with the Iraqi Securities Commission in this important initiative that aims to help companies and banks mitigate the risks of environmental, social and governance practices, and improve performance in the long term.” Sustainably, in addition to attracting investment and contributing to the sustainable growth of the stock market in Iraq.”
He pointed out that "during the process of preparing the guide, there will be workshops and meetings with relevant parties such as listed companies and brokerage companies."
The Iraqi Securities Commission, as the regulating and monitoring body for securities activity and related activities and financial services, seeks to increase the contribution of this sector to the gross domestic product and provide an investment environment that protects the rights of investors and other stakeholders.
Welcome everybody to the big call tonight. It is Thursday, June 13th and you’re listening to the big call, I'm welcoming everybody all around the globe within the sound of my voice, as a result of the Starlink satellite system that my SAT team is piggybacking on for us to get out to quite a few countries, close to 200 countries, and quite possibly 25 million listeners. .
All right, let's talk a little bit about the Intel. Again. It's not going to be a long Intel segment, because we have is strong, but it's not a whole lot to base our lives on - what we're getting from, I'm going to call it some of our military sources saying that the notifications for us in 4B are to come out over the next 48 hours, which, to me, is Friday or Saturday. That's what we're looking for the next two days.
And we know, for example, that the Iraqi dinar has been on the forex and trading upward, and also on the bank screens, they can see it trading upward, and it made some nice moves in the last two days, from just over $4 - $6, probably on its way to $8 now, and it's just each moving up and because being traded, and that's what we want to see. Want to see that happening
Now for bondholders, what they're getting is that they should have their notifications also in the next couple of days, which looks really to me, like Saturday for them, - they get that email that says they have access to funds on Saturday that is also lining up with what I believe should be our email to set our appointments and begin our exchanges.
So that's what we're looking at right now, I'm sure there's probably a couple of other little things also going on. Here's one of them. Remember, we were looking for the Iraqi budget to be put in the Gazette last we're gonna say last Wednesday, right? Which was yesterday. Didn't happen, but one of our sources is saying, come hell or high water, it will be in the Gazette on Saturday.
Today's Thursday, so Friday, Saturday, in two days, we would have the budget, which contains the rate of the dinar in the Gazette, the official publication of Iraq on Saturday. But that should be great. That happens. We're in good shape. We're ready to go. We've had them say this time and time again.
The caveat is, let's, let's let it manifest to us when it happens. But right now, that's the best and only information that we're getting – I’m excited about it. And I think that you should be too.
But as always, we have to watch this stay in faith for it, and I believe for everything to come through like we’re hearing - but everything is what's happening when it comes to people being picked up arrests, that type of thing is going great guns.
They're just absolutely going, fantastically behind the scenes . We don't really see it. The public won’t see it, but we know this is happening from our military sources,
So that's really the Intel for tonight. I'm glad everybody is hanging in there staying with us. I know it's difficult. I know it’s tough, but I will tell you, this is what we're seeing, is what we're hearing, and we're looking forward to this coming to fruition very, very soon.
All right, Let that be enough for you, tonight - And let's just pray this thing in you guys and see where it is and when we're gonna see it. I'm looking forward to getting it either tomorrow or Saturday, all right, so let's pray the call out.
Parliamentary Finance explains the reason for postponing the publication of the budget tables after the Eid holiday
6/12/2024
>A member of the Parliamentary Finance Committee, Representative Moeen Al-Kadhimi, confirmed on Wednesday that the committee requested that the budget tables be redone before publishing them in the Official Gazette due to the existence of printing errors in the numbers, indicating that the committee is in the process of re-auditing the numbers and correcting the printing errors for the purpose of publishing them until after the Eid Al-Adha holiday.
Al-Kadhimi said in a statement to the Al-Ma’louma Agency, “The budget tables were supposed to be published in the Iraqi Gazette during these days, but we found typographical errors in the table numbers by reviewing the draft before publication, so a request was made to return it to Parliament.”
He added, “The committee will take time to check the numbers and diagnose typographical errors, in addition to Parliament enjoying its legislative recess, so the publication of the tables in the Official Gazette will be postponed until after the Eid Al-Adha holiday.”
Yesterday, Tuesday, the spokesman for the Ministry of Justice, Ahmed Luaibi, confirmed that the Iraqi Facts Department addressed the House of Representatives with an official letter in order to send the schedules of the federal financial budget law for the year 2024 in order to publish them in the Official Gazette.
Did you see...Iraq and Kuwait are now linking with their fiber optics? This is extremely important part of the monetary reform...They know it's no longer a secret what is happening with the exchange rate of the Iraqi dinar.
Things are going perfect. Everything is moving with such perfection that no one can do anything about this right now.
How much time will they [Iraqi citizens] have to trade in 3 zero notes?
[Boot's on the ground Firefly's bank friend] told Firefly you're going to be given a short amount of time to exchange your Iraqi dinar.This is the very first time ever that we have information from a very good source [saying] you're going to have a specific amount of time to trade in your 3 zero notes.
