Wednesday, August 14, 2024
But remember Alaq is heading the CBI as a proxy director in a temporary assignment BY MNT GOAT, 14 AUGUST
DOCUMENT.. THE IRAQI JUDICIARY SETTLES THE CONTROVERSY OVER WHETHER THE GOVERNOR OF THE CENTRAL BANK SHOULD REMAIN IN HIS POSITION OR NOT
The Supreme Judicial Council in Iraq supported the State Council’s decision to refer the Central Bank Governor, Ali Al-Alaq, to retirement after reaching the legal age.
The Supreme Judicial Council said in an official document, a copy of which was received by Shafaq News Agency, that the same subject was studied by the Studies Committee in the Presidency of the Judicial Supervision Authority, and the same opinion of the State Council was reached in the two aforementioned decisions.
The House of Representatives had sent a letter to the Supreme Judicial Council inquiring about the judiciary’s opinion on the permissibility of the bank governor continuing in service after reaching the legal retirement age.
The State Council has decided the official position on whether or not the Central Bank Governor, Ali Al-Alaq, will continue in his position, confirming that he has exceeded the legal retirement age.
It was stated in correspondence between the State Council and Parliament, in response to the House of Representatives’ request to clarify the opinion of the State Council regarding the permissibility of the Governor of the Central Bank continuing in service after reaching the legal retirement age.
The State Council had explained, according to the documents, that Clause (First) of Article (103) of the Constitution stipulated that the Central Bank shall be a financially and administratively independent body whose work shall be regulated by law and which shall be accountable to the House of Representatives. Article (2) of the Central Bank Law issued pursuant to Order No. (56) of 2004 of the (dissolved) Provisional Coalition Authority stipulated that the Central Bank shall be a legal entity with full capacity and independence and subject to accountability.
He pointed out that the legislator has explicitly stipulated that retirement upon reaching the legal age is an inevitable retirement by law unless exempted by a special provision, and since there is no special provision exempting the Governor of the Central Bank from the provisions of inevitable retirement upon reaching the legal age.
The State Council confirmed that the legal principle states: “Heads of independent bodies are subject to the legal retirement age.”
(But remember Alaq is heading the CBI as a proxy director in a temporary assignment. He is not in the position as a full appointment. Will they be able to extend his assignement period and keep him for a while longer?)
LATEST FROM TEXAS SNAKE, 14 AUGUST
TEXAS SNAKE
Banker indicates many positive items are pointing to Thursday, we shall see.
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TEXAS SNAKE
AUGUST 03
love this room now, Leaves TS to be free to speak, admins never jump in cause issues and people have continued to come in and all seem to keep to the subject, truly the room has become what we all wanted it to be.
It is presently 3:10 AM in Bagdad Monday morning and additional info is coming forward over and above what was shared on the Conf Call I was included in last night. Still very encouraged about tomorrow in US as well as this coming week.
You are correct it will be Monday when the banker calls me in the morning.
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Well foiks truly wish I had something to report but with all the NDA;s being issued it is much harder to obtain anything of value.
AUGUST 07
Things are in positive motion folks hang in there, NDA's are the issue at present for status of our benefits to be realized but it is days not months
AUGUST 09
Texas Snake, [08/09/2024, 9:13:08 p. m.]:
While due to the many NDA's that those who have provided info to me has resulted in the limited info I can share we are still in a positive situation to realize our objective. Wish I could share more of the particulars but cannot risk their safety.
Gonna be an early night forme as I need tp prepare a men's breakfast for our church in the morning but will open for a bit for you folks to share anything you may have.
LATEST REPORTS OF TEXAS SNAKE:
RV UPDATE BY TEXAS SNAKE, 4 AUGUST
https://dinarevaluation.blogspot.com/2024/08/rv-update-by-texas-snake-4-august_01843290374.html
RV UPDATE BY TEXAS SNAKE, 2 AUGUST
https://dinarevaluation.blogspot.com/2024/08/rv-update-by-texas-snake-2-august.html
"WE ARE CLOSER EACH DAY" BY TEXAS SNAKE, 1 AUGUST
https://dinarevaluation.blogspot.com/2024/08/we-are-closer-each-day-by-texas-snake-1.html
Didn’t my CBI contact tell us these workshops and training were coming? 😊 BY MNT GOAT, 14 AUGUST
CENTRAL BANK GOVERNOR PARTICIPATES IN A WORKSHOP SPECIALIZED IN ELECTRONIC PAYMENT
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, participated in a specialized workshop on accelerating the transition to electronic payment, sponsored by the Prime Minister, and organized by the Osool Foundation for Economic Development and Sustainable Development.
His Excellency the Governor said during his speech at the workshop: The Central Bank of Iraq works side by side with the government program and the Prime Minister’s direction to support electronic payment, and we are proud of what we have achieved so far. In 2023, the amounts processed through the national switchboard witnessed a significant increase, reflecting the development of the infrastructure and the expansion in the use of electronic payment channels and the impact of the campaign launched by the Prime Minister to activate electronic payment operations in general, and in the government sector in particular.
His Excellency added that these upward trends continued to develop in 2024, as the amounts processed in the national switchboard systems amounted to more than (2) trillion Iraqi dinars in July alone, compared to (800) billion dinars in the same month of 2023, after which it became (1) trillion dinars in January of 2024, and government payments witnessed an additional increase, reaching (912) billion Iraqi dinars last July compared to (287) million dinars in the same month of 2023.
His Excellency pointed out that payment operations at fuel stations in Baghdad alone increased significantly, recording more than (44) billion dinars in July of this year, compared to (183) million dinars in July of 2023 and (4.5) billion dinars in December 2023, revealing a huge increase in the number of points of sale (POS) to reach more than (50) thousand points of sale this year compared to approximately (11) thousand POS points of sale at the beginning of 2023, and thousands of them are in government institutions after they were zero before the launch of the campaign in June 2023.
Expressing his hope that government institutions will adopt the establishment of units specialized in electronic payment technologies to work on following up and developing this important aspect.
Central Bank of Iraq
Media Office
August 10, 2024
(Didn’t my CBI contact tell us these workshops and training were coming? 😊 )
ANALYSIS OF IRAQ NEWS: PRIME MINISTER’S ADVISOR: THE GOVERNMENT HAS ESTABLISHED A ROADMAP FOR THE ECONOMIC MODEL IN IRAQ BY DINAR REVALUATION, 14 AUGUST
PRIME MINISTER’S ADVISOR: THE GOVERNMENT HAS ESTABLISHED A ROADMAP FOR THE ECONOMIC MODEL IN IRAQ
The Prime Minister’s Financial Advisor, Mazhar Muhammad Salih, on Saturday, defined the government’s vision for the economic model, and while he indicated that it will guide investment decisions to achieve their goals, he stressed that the government of Prime Minister Muhammad Shia al-Sudani has established a roadmap for the work of the economic model in Iraq.
Saleh said in a statement reported by the official news agency, and reviewed by “Al-Eqtisad News”, that “the economic model is a mathematical model used to represent the economy and analyze the behavior of various economic factors, as these models are used to understand how economic elements interact,” indicating that “at the level of the philosophy of the Iraqi government curriculum, the basics of modeling the Iraqi economy were launched from an important vision based on the principle of analyzing the entire economy, taking into account the overall variables, most notably the basics of development and growth in the gross domestic product and imposing stability and effective operation of the joints of the national economy and the level of its interconnections.”
He added that “the current digital life helps to use computing to conduct simulation experiments to understand the potential effects of various economic policies and adopt optimal paths from them,” stressing that “Iraq has established in its government curriculum a practical foundation and a roadmap for the work of the economic model for Iraq through the development path strategy, since the beginning of the government of Prime Minister Mohammed Shia al-Sudani.”
He pointed out that “the state of economic imbalance and its severe unilateralism has always required thinking about the future of the economy through an approach based on generating an alternative sector that leads the national economy,” explaining that “the development path program is an academic viewpoint, and what the German economic thinker Albert Hirschmann presented in his famous book (Economic Development Strategy) published in 1958, in combating the state of imbalance and economic unilateralism with a theory based on economic development weight, and a leader for the economy that provides a high degree of backward and forward sectoral interconnections and high interactivity that achieves sustainable growth and restores balance in the long term for the national economy.”
He pointed out that “this theory emphasizes in its model the need to invest in strategic sectors with a specific high priority instead of investing in all sectors at once,” adding that “according to this theory, other sectors will develop automatically over time, and from this standpoint the idea of the economic model for the future of Iraq in prosperity and diversity was born, which is undoubtedly based on a strategy for the overall economy based on the development path.”
Saleh noted that “this development strategy and the economic model that drives the macroeconomic variables, did not separate from it the vision of partnership between the state and the private sector and the principles of the social market within the data of the five-year national development plan and its objectives that were recently launched,” concluding his speech by saying that “the economic model or model for Iraq that we aspire to establish will provide the predictive foundations for evaluating economic policies and directing investment decisions to achieve their specific objectives in an optimal manner.”
The Prime Minister’s Financial Advisor, Mazhar Muhammad Salih, has outlined the government's strategic vision for Iraq's economic model. According to Salih, the economic model is essentially a mathematical framework used to understand and analyze the interactions among various economic factors. This model is crucial for guiding investment decisions and achieving the government's economic goals.
Salih explained that the government, under Prime Minister Muhammad Shia al-Sudani, has developed a comprehensive roadmap for Iraq’s economic model. This model focuses on evaluating the economy as a whole, including factors such as development, growth in GDP, and the stability and efficiency of the national economy.
In the context of modern technology, Salih highlighted how digital tools can facilitate simulation experiments to assess the impact of different economic policies and choose the best strategies. He emphasized that Iraq’s economic roadmap, initiated by al-Sudani's government, is based on a strategic development path.
Salih also discussed the need to address economic imbalance and dependence on single sectors by adopting a development strategy inspired by Albert Hirschmann’s theory from his 1958 book, "Economic Development Strategy." Hirschmann’s theory advocates for investing in key strategic sectors to stimulate overall economic growth and balance.
The economic model for Iraq aims to focus on strategic investments rather than attempting to develop all sectors simultaneously.
Over time, this approach is expected to lead to the natural development of other sectors.
This strategy aligns with Iraq’s broader five-year national development plan, which includes principles of public-private partnership and a social market approach.
Ultimately, Salih believes that this economic model will provide a foundation for evaluating economic policies and directing investments in a way that optimizes their effectiveness.
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