"I TOLD YOU TO LOOK AT THE IRAQI STOCK EXCHANGE... I SURE WOULD LIKE TO HAVE A LOT OF THIS STOCK" BY FRANK26, 10 AUGUST

KTFA

FRANK26: "I TOLD YOU TO LOOK AT THE IRAQI STOCK EXCHANGE... I SURE WOULD LIKE TO HAVE A LOT OF THIS STOCK"...........F26

Qaim Cement Plant: Plans to increase production to one million tons annually

 

8/9/2024

 

Anbar - IEA - Ahmed Al-Dulaimi 

Al-Qaim Cement Factory announced today, Friday, that it has achieved a contractual capacity of producing 850 thousand tons annually, while indicating that there are plans to increase production to one million tons annually.

The authorized director of Al-Qaim Cement Factory, Mohammed Zagher Al-Rawi, told the Iraqi News Agency (INA): "The factory has achieved contractual capacity, which is the design capacity of the factory in producing about 850 thousand tons of resistant cement annually," noting that "the factory operates with one production line, as it produces about (80 to 90) thousand tons per month, and is now operating within the design capacity."

He pointed out that "there are plans prepared that will be implemented to reach the design capacity of the plant, which is one million tons annually, through modernization and development operations, as well as attention to the quality of cement," indicating that "the plant recently obtained a quality certificate for the product."

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"IRAQI STOCK EXCHANGE... I WOULD LIKE TO INVEST IN THESE SUPERMARKETS!!!"......F26

 

Trade reveals loans to purchase goods worth 25 million dinars

 

8/9/2024

 

Baghdad - WAA

The Ministry of Trade confirmed, today, Friday, the intention to open 3 hypermarket centers during the current month, and while specifying the beneficiary categories, it clarified the purpose of opening those centers in partnership with the private sector, also revealing loans to purchase goods worth 25 million dinars.

The spokesman for the Ministry of Trade, Mohammed Hanoun, told the Iraqi News Agency (INA): "The Ministry of Trade has worked to reactivate the marketing centers with the (hypermarket) system to control food prices and support the poor," stressing that "three categories will benefit from these centers: families covered by social care, state employees, and those with limited income and those who have a card from private and government banks."

He added that "the centers will provide all the food items that the citizen needs, in addition to being included in the electronic automation programs," indicating that "the centers will provide goods in installments to citizens through loans from banks starting from ten million to 25 million."

He continued, "Three centers will open during the current month and 15 centers later, followed by a step to open centers in the districts and sub-districts, relying on the private sector and with full government oversight and supervision of the Ministry of Trade through programs prepared in partnership with the private sector."

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LATEST FROM FRANK26, 10 AUGUST

 Frank26  

The United States Treasury, Federal Reserve, they showed up...What do you think that means?  You think they're going to sit there and allow them to be lackadaisical, to be lazy, just to take your time? No.  The Untied States of America works on a nano second...I find it very encouraging to speed up the monetary reform process.

  Who is the new CBI governor?  It is the US Treasury IMO that is now the governor of the CBI. 

 Why?   What is the governor of the CBI? 

 Just a figurehead.  

Does he make any decisions?  No.  Does he have any authority?  No.  Does he cast a vote for anything?  No. 

 What does the CBI governor do?  He makes announcements to the international world, to the Iraqi citizens, he gives reports to the prime minister.  He's a figurehead.  He's a messenger.

PIMPY: Zim dollar update for 08/09/24 - The new Zim dollar certificates

"YOU ARE RIGHT SIR... WE NOW AWAIT THE NEW EXCHANGE RATE!!!" BY FRANK26, 10 AUGUST

 KTFA

FRANK26:"YOU ARE RIGHT SIR... WE NOW AWAIT THE NEW EXCHANGE RATE!!!"........F26

 

For 3 reasons.. Changing the relationship is “not enough” to improve the performance of the Central Bank

8/7/2024

 

Special |..

Economic consultant, Ziad Al-Hashemi, confirmed today, Wednesday, that changing the governor of the Central Bank, Ali Al-Alaq, will not be sufficient alone to bring about the required change and improvement in the performance of the Central Bank, but rather the issue requires a broad and large screening and development of its work style, updating its management structure, and giving it the independence it needs, like other central banks.

Al-Hashemi told Al-Jarida, “The Central Bank of Iraq suffers from several major and fundamental problems, the first of which is that there is a defect in the structure of the Central Bank of Iraq, and this defect is clear in the method and style of the bank’s work. There is also weakness in the performance of the administrative system within the Central Bank as a whole, and there is also weakness in the independence of the Central Bank.”

He explained that “these factors of administrative weakness, structural defects, and weakness in the independence of the Central Bank mean that any change at the level of the leadership as individuals will not make a significant difference in bringing about a qualitative shift or positive development in the performance of the Central Bank as a whole.”

He stressed that “the Central Bank needs a broad and extensive screening, developing its work model, updating its management structure, and giving it the independence it needs, just like other central banks, to work comfortably, make its decisions, manage, implement, and monitor monetary policies with complete independence, without political interference or interference from any other party.”

Al-Hashemi concluded by saying, “Changing the governor of the Central Bank will not be enough alone to bring about the required change and improvement in the performance of the Central Bank, but rather the issue requires other requirements.”

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LATEST FROM MILITIAMAN, 10 AUGUST

 Militia Man 

  Article:  "Urgent: Central Bank Governor: No intention to reconsider dollar exchange rates, we are undergoing a major transformation"  Does Alaq have any control whatsoever over the dollar?  No, not at all.  But what does he have control over?  When he states he's not going to do anything about the dollar he means it because he can't.  But what he does have control to change the exchange rate of the dinar.  He has that control. 

Did Alaq resign?  Answer, no.

Article quote: "Even the measures taken by the government to try to down low dollar prices to 1320 to sell it in a supported manner didn't not reach the elimination of speculation in the markets reducing the price of a dollar in the black market."  It didn't work to kill the black market just yet but I got a strong feeling since the dollar auctions have gone from 250 million a day down to less than 25 million...consistently for over a week...we can see where their priorities lie.

PIMPY: Zim dollar update for 08/09/24 - The new Zim dollar certificates

"SUDANI & THE UST PREPARE THEIR BANKS FOR THE NEW EXCHANGE RATE" BY FRANK26, 9 AUGUST

 KTFA

FRANK26:"SUDANI & THE UST PREPARE THEIR BANKS FOR THE NEW EXCHANGE RATE".......F26

Rafidain announces the implementation of the comprehensive banking system in 37 branches

8/7/2024

 

Baghdad
 

Rafidain Bank announced, on Wednesday, the implementation of the comprehensive banking system in 37 branches.

A statement by the bank, seen by "Al-Eqtisad News", stated that "in implementation of the government program to move from paper transactions to electronic transactions to provide the best services to citizens, Rafidain Bank announced the implementation of the comprehensive banking system in the Al-Amir neighborhood branch in Najaf Al-Ashraf and the Kut branch."

He added that "the comprehensive system has been activated in Baghdad and the governorates, in addition to the border crossing branches (Zurbatiyah - Safwan - Arar - Trebil), so that the number of effective and completed branches of the system has become (37) branches."

He added, "This is an important step to strengthen the banking system, meet its requirements, and move away from paper work and towards completely moving towards electronic systems."

The bank confirmed that "the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the scheduled timings to include all the bank's branches in the implementation of the system."

He added that "the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions."

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