Signing a cooperation protocol between the Iraqi and Egyptian stock exchanges...aims at this matter, 12 AUGUST

 Today, Monday, the Chairman of the Board of Governors of the Iraq Stock Exchange, Thaer Adnan Hashem, signed a cooperation protocol to enhance joint work with the Egyptian Stock Exchange management.

The media office of the Iraq Stock Exchange stated in a statement received by "Al-Eqtisad News" that "the Chairman of the Board of Directors of the Egyptian Stock Exchange, Ahmed Al-Sheikh, signed a cooperation protocol between the stock exchanges of the two countries with Thaer Adnan Hashem, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), in the presence of Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, and Hiba Al-Sayrafi, Vice Chairman of the Egyptian Stock Exchange."

He added that "the protocol aims to strengthen cooperation ties and raise the level of coordination between the two parties, increase prospects for joint work and exchange of expertise and information in all aspects of investment and develop existing legislative procedures for both parties, in addition to working to increase investment awareness and attract mutual investments between the two countries and direct savings towards investment in securities, as well as support the transition to the digital economy to increase the competitive capabilities of both stock exchanges."

In turn, the Chairman of the Egyptian Stock Exchange, Ahmed El Sheikh, confirmed that "the protocol aims to develop joint cooperation between the two parties and exchange expertise and information regarding updating legislation, regulations, procedures, work programs and methodologies related to trading in securities, as well as exchanging periodic and annual bulletins issued by both stock exchanges, as well as exchanging periodic information related to companies registered and traded in the two markets."

He added: "We are working to provide the basic information that investors in both countries need to increase mutual investments in the two stock markets."

He pointed out that "the two parties will discuss mechanisms to support and diversify the financial products available to investors and increase liquidity in both markets," stressing that "the two parties will work to encourage capacity building and training between brokerage firms and companies listed on the two stock exchanges in a way that serves the achievement of the goals of spreading awareness and exchanging expertise."

He explained that "signing this protocol comes within the framework of implementing Article (58) of the Egyptian Stock Exchange's development strategy, which falls under the sixth axis related to "promoting and spreading financial culture, training and international relations." 

In this context, Faisal Al-Haimus, Chairman of the Iraqi Securities Commission, stressed that “signing this protocol represents a vital step towards deepening cooperation between the stock markets in Iraq and Egypt, which reflects our common keenness to strengthen economic relations between the two countries,” noting that “this agreement does not only aim to exchange expertise and information, but also seeks to develop the infrastructure of the financial markets in both countries by adopting the latest technologies and applying the best international practices.”

Al-Haimas added: “We realize that financial markets represent the cornerstone of developing the national economy, and therefore strengthening the partnership between the two markets will directly contribute to achieving sustainable economic growth and attracting foreign investments. We also believe that this protocol will open new horizons for cooperation in various fields, such as financial innovation and the development of new financial products, which will help enhance the competitiveness of both markets.”

Al-Haimas stressed the “commitment of the Securities Commission to provide full support for the success of this cooperation, noting that the Commission will work to provide the appropriate regulatory environment to implement the provisions of the protocol effectively,” expressing his “confidence that this cooperation will enhance the efficiency of the two markets, and increase levels of transparency and disclosure, which will enhance investor confidence and contribute to achieving the goals of joint economic development.”

For his part, Thaer Adnan Hashim, Chairman of the Board of Governors of the Iraq Stock Exchange (Iraqi Stock Exchange), stated: “The signing of this protocol, which was sponsored by the Chairman of the Securities Commission / Faisal Al-Haims, is an important step towards enhancing joint cooperation between Iraq and Egypt in the field of securities markets, as this agreement aims to exchange expertise and information between the two markets, especially with regard to updating the legislation, regulations and procedures related to securities trading.”

He explained that "this protocol is an opportunity to develop the infrastructure of financial markets, increase investment awareness, and attract mutual investments between the two countries. We will also work to support the transition to the digital economy, enhance the competitive capabilities of both stock exchanges, and encourage capacity building and training between brokerage firms and listed companies."  link

"ZIM REDEMPTION" BY JUDY NOTES, 12 AUGUST

 Judy Note:

 In the past we have been told to write up a 1-2 page summary of your project and goals indicating how long we wish your project to last, how many people it can employ, and include a very rough estimate of how much money you will need to run the project. You should also have a short paragraph about yourself and why you are qualified to run the project.

A Reader’s Take on Zim Redemption:

• I have to disagree with what was posted last night from both party’s suggestions on the Zim Redemption rates.

• In my research the “Bearer Bond” is to be redeemed to the holder at face value. It is in essence a promise by the country issuing that bond backed by that country’s wealth. A holder can demand the value in that country for anything owned by that country period.

• The rate is equal to that country’s dollar One For One (1:1). In this case the Zimbabwe dollar or Zig. The USD or any other country’s currency has no bearing in  the value until you exchange it.

• When I looked up the exchange rate for the ZWL (Zim fiat) on Forbes, the value was .003106. The 100T note was worth in USD $ 310,600,000,000. That is three hundred ten billion , six hundred million dollars. It could potentially be worth five hundred billion in consideration of the Zig.

• The calculation of 5 billion overall with ten percent (500 million) as front money makes me question where the money is going.

• According to the numbers quoted with the St Germaine’s Trust  (a number with around 140 zero’s following) and the Rodriguez Estate (a number with about 120 zero’s following) along with possibly Dubai 1 & 2, why would there be a need for them to deduct any of our bond proceeds for Humanitarian use?

• I can understand for payouts to be trounced due to the excessive amount of monies to be paid out.

• Just my thoughts. Anon.

• On International Default Rates, John F. Kennedy Jr. on Telegram:

• Dinar will value at a “RI” rate from the time Iraq was invaded which would put it around $3.22 – $3.78.

• Zim Holders: Zim was being offered at a Default Rate of first two 100T AA Zim Bond Notes up to 30 T notes at $20 Million each, 31 T notes and up would default to $15 million decreasing the more notes you own.

• HOWEVER (especially for those with Humanitarian Projects that the above will not cover?) the AA Zim are Bonds and we have been told they cannot be renegotiated. ASK for the Contract/ Solverant rate. These ratescan be negotiated on your second visit with your projects and team members.

https://dinarchronicles.com/2024/08/12/restored-republic-via-a-gcr-update-as-of-august-12-2024/

It's Done & Completed?🚩Potential RI/RV Exchange Rate Up To $7.00🤔Dinar R...

Due to financial violations, a representative demands that Sudanese terminate the assignment of governor of the Central Bank, 12 AUGUST

 Due to financial violations, a representative demands that Sudanese terminate the assignment of governor of the Central Bank

Today, Monday, member of the Parliamentary Integrity Committee, Hadi Al-Salami, called on the Prime Minister to end the assignment of the Governor of the Central Bank, Ali Al-Alaq, stressing that he will direct oral questions to the Governor of the Central Bank. 

He told Al-Maalouma Agency, “There are parliamentary demands to end the assignment of the Central Bank Governor due to his failure to control the official dollar exchange rate and the parallel price.” 

He added, "There are many observations on the performance of the Central Bank Governor, in addition to his reaching the legal age, indicating that he directed questions to the Central Bank Governor and is waiting for a date to be set by the Presidency of the House of Representatives to host him inside the House of Representatives.”

He stressed that “the reason for the hosting request is the presence of a major defect in the bank’s work and the existence of financial violations estimated at approximately $120 million per month.”   link

LATEST FROM JULIAN ASSANGE ON TELEGRAM, 12 AUGUST

 Julian Assange on Telegram

• At redemption, your first two 100 Trillion $ Bond Notes will be paid out at a 1:1 US $. That is, you would receive $200 Trillion US for your first two 100 Trillion Bond Notes.

• After that, you are paid $25 million (per 100T) for up to 30 100 T$ Bond Notes.

• If you have more than 30 Zim Bond Notes and need more than what you have already been given for your project, you can make another appointment to discuss.

• No mention was made of how much of that $ you can use for yourself and how much much be dedicated to your project, though it was assumed that the vast majority (at least 80%) of the money you redeemed from your Zim would go toward your project or other Humanitarian Projects.

• Assange indicates that your Humanitarian Project does not have to be approved in order for you to receive your redemption monies.

• Assange says that the exchange rate and monies you receive for your exchange of different foreign currency is the same for everyone (depending upon the country where you reside), is for your own use (and not necessarily a Humanitarian Project), and is available to you immediately after your exchange.

• Assange makes no suggestions or spells out any requirements on how to write up your Humanitarian Project.

SOURCE: DINARCHRONICLES

Iraqi Dinar: Ali Alaq Under Fire: Iraq’s Central Bank Scrutiny and Its I...

Government Advisor: Increased Export Capacity Boosts Currency Value, 12 AUGUST

 The financial advisor to the Prime Minister, Dr. Mazhar Mohammed Saleh, stated that the global currency rates are determined in two main ways: floating and fixed prices, indicating that there are many local and international factors that control the strength of the currency, such as supply and demand, interest rates, inflation, growth in the local economy, trade balance, and others.

While he pointed out that the strength of the national currency is linked to its external value, specifically the exchange rate, as the external value of money is directly linked to the stability of the current account of the balance of payments, especially in the long term.

Saleh said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, that “the stability of the external value of the currency requires a balance or surplus in the current account of the balance of payments relative to the gross domestic product, which should indicate a stable state at a minimum of no less than 4 percent annually, and that achieving this goal certainly depends on a sustainable increase in the annual growth rate of the gross domestic product, and exports exceeding imports within the country’s trade balance.”

Dr. Saleh pointed out that if “the country has the capacity to export goods and services more than it imports, this enhances the value of the national currency, especially the external value of the currency itself, and here the economy indicates a positive state, in addition to the availability of supporting foreign reserves that represent the main buffer against potential external factors and their effects on the overall economic situation.”

The government advisor also explained that “foreign reserves express the ability to maintain the stability of the external value of money, i.e. the stability of the exchange rate, including the strength of the commercial efficiency of reserves, which should cover the money supply in the broad sense, and more than 75 percent of that supply, noting at the same time that high sovereign and private debts can weaken the business, unless there is good financial management of debts that always leads to strengthening confidence in the national currency.”

Saleh pointed out that “the other aspect that is linked to the value and stability of the currency is the internal value of the national currency. Just as we talk about the stability of the external value of the currency, i.e. the exchange rate and its exchange power with other currencies, the internal value of the currency is the other aspect of the stability and strength of the currency. Here, the value of the national currency is directly linked to the general level of prices, i.e. the inflation index.” He explained, “If the general level of prices means the strength of goods and services expressed in money, then there is a correlation between price stability and the value of the national currency itself. This requires the availability of a wise monetary policy undertaken by central banks that makes the growth in the money supply commensurate with the growth in the gross domestic product or national income.”

The speaker noted that “the quantity theory of money is based on the principle of the neutrality of money, which holds that the cause of inflation in the long run is money itself, as growth in the money supply that is not proportional to growth in the gross domestic product leads to either inflation or contraction in the growth of the general price level. Therefore, the effect of money on the overall economy, as addressed by the quantity theory of money, means that if the amount of money in the economy increases, and there is no parallel increase in economic output, this will lead to an increase in the general price level.”  link