DINAR REVALUATION UPDATE: Iyad Allawi's Stance Against Amendments to Iraq's Personal Status Law : CALLING TO THE UNITY IN IRAQ, 25 AUGUST

Iyad Allawi's Stance Against Amendments to Iraq's Personal Status Law

In a significant development in Iraq's political landscape, Iyad Allawi, a prominent leader and head of the National Coalition, has firmly opposed proposed amendments to the Personal Status Law. 1 These amendments, pushed by Shia political blocs within the Iraqi parliament, have sparked widespread controversy and debate across the nation. Allawi's rejection underscores the deepening sectarian tensions and the potential implications for the unity of Iraqi society.

Personal Status Law: A Unifying Force?

The Personal Status Law, enacted in 1959 under Prime Minister Abdul Karim Qasim, has historically served as a unifying legal framework for all Iraqis, regardless of sectarian affiliations.  4 Allawi's concern is that the proposed changes could erode this unifying fabric by allowing citizens to opt for sectarian-specific interpretations of the law, thereby reinforcing divisions and sectarianism within the country.

The Impact of Sectarianism

Allawi's opposition to the amendments is rooted in his belief that they could exacerbate existing divisions and reinforce sectarianism at a time when Iraq needs to address more pressing issues such as poverty and unemployment.  1 The leader has called for a focus on legislation that benefits the individual and society as a whole, emphasizing the need for national political forces to overcome their differences and unite on matters that impact the lives of all Iraqi citizens.

A Call for Unity and Focus

In his meeting with members of the 188 Alliance, Allawi stressed the importance of addressing essential issues that affect the Iraqi citizen, advocating for a collective effort to tackle problems that hinder national progress. 1 He has urged the political forces to set aside secondary disputes and concentrate on building a more cohesive and resilient society.

Widespread Controversy

The proposal to amend the Personal Status Law has indeed triggered a heated debate within Iraq, with opposing factions voicing their concerns and support. 1 Critics argue that the amendments could lead to the marriage of minors and deprive women of their rights to alimony and custody. The government has responded by initiating discussions through the “Supreme Council for Women’s Affairs” to address the concerns raised, highlighting the complexity and sensitivity of the issue.

Conclusion

Iyad Allawi's firm stance against the amendments to the Personal Status Law reflects a broader concern about the potential for such changes to deepen sectarian divides in Iraq. 

His call for unity and focus on issues that impact the lives of all Iraqis resonates with many who fear that sectarian politics may further destabilize the country. The ongoing controversy surrounding the Personal Status Law underscores the need for a balanced approach that respects the rights of all Iraqis while preserving the social cohesion that is vital for the nation's stability and progress.

"THERE IS A LOT OF EXPECTATIONS IN IRAQ THIS WEEKEND" BY MARKZ, 25 AUGUST

 MarkZ   

[via PDK] 

As far as RV related news – there is a lot of expectations in Iraq for this weekend.

  But no huge movement yet. We are waiting to get some news.  Iraqi contacts are pretty hopeful they can force a dinar value change to reduce the use of US dollars .  A lot of hopeful talk …and most are looking for a change on Sunday. That’s only a day away so guess we will soon find out. 

COMMENT:  ...Iraqi Citizens are being shown the new lower denominations on the street level. They are being distributed in Iraq…If so, I assume this puts us in a short window until it’s on forex for us.   ;

 MarkZ:   If they are being distributed…yes.  We do know they have printed them…we have seen the contracts with DeLaRue in 2018 when they were printed. We know they have sent “cut sheets” or samples to banks , large retailers etc…showing all the security features etc. So they have printed them, prepared everyone, educated the exchange houses. They have also formed a committee to educate people on price changes. It’s clear they are going to lower denominations. If they are finally releasing them at the street level… Well, that is huge news...

IRAQ'S BOLD MOVE: DINAR PEGGED TO A CURRENCY BASKET

DINAR REVALUATION UPDATE : THE Iraq's Financial Talks with the US Treasury and Federal Reserve in August 2024, 25 AUGUST

 Iraq's Financial Talks with the US Treasury and Federal Reserve in August 2024

Iraq's efforts to address banking violations and dollar restriction issues have led to significant diplomatic engagements with the US Treasury and Federal Reserve. 

 In a strategic move, Iraq established a committee to tackle the ongoing challenges, demonstrating a proactive approach to resolving financial discrepancies with the United States. 

Financial Coordination and Dialogue

The meetings, scheduled for the end of August 2024, are expected to cover a range of topics, including the status of Iraqi banks under US sanctions and the accumulated Iranian funds in Iraq. 

 These discussions aim to ease the tension caused by dollar shortages in Iraq, a situation exacerbated by increased scrutiny from the New York Fed on transfers to Iraqi banks. 

Iraqi Foreign Minister Fuad Hussein described the talks as "very useful," indicating the country's commitment to finding practical solutions. 

 The dialogue reflects Iraq's intention to resolve issues related to dollar restrictions, which have impacted the local economy, particularly following the Federal Reserve's measures that halted transactions from dollars to yuan, aimed at supporting Iraq's foreign trade. 

Economic and Political Context

The ongoing talks occur against the backdrop of complex economic and political dynamics. 

 Iraq's Prime Minister Mohammed Shia al-Sudani's visit to the United States earlier in the year highlighted the country's desire for a more comprehensive relationship, encompassing economic, educational, and people-to-people domains. 

 The symbolism of this visit, from the timing to the size of the delegation, underlined Iraq's aspirations for a new chapter in bilateral relations. 

Security concerns, particularly the presence of US troops and the Global Coalition to Defeat ISIS, have also been part of the dialogue. 

 The establishment of the Higher Military Commission in August 2023 aimed to assess the operational environment and capabilities of the Iraqi security forces, signaling a shift in focus from the anti-ISIS coalition to bilateral security relations. 

Challenges and Opportunities

The talks in August 2024 represent a pivotal moment for Iraq's financial sector and its broader relationship with the United States. 

Addressing dollar restrictions and banking violations could pave the way for improved economic stability and cooperation. However, the discussions are likely to be complex, given the intertwined economic, security, and political interests at play. 

"NO THEY HAVE A LOT MORE THAN THAT!!!" BY FRANK26, 26 AUGUST

KTFA

FRANK26:  "NO THEY HAVE A LOT MORE THAN THAT!!!"...........F26

More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024

8/24/2024

 

Economy

Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.

 

Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.

 

 

This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.

Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.

LINK

ANALYSIS OF IRAQ NEWS BY MILITIAMAN, 25 AUGUST

 Militia Man  

 Article Quote: "Alaq confirmed... there will be meetings held with the Federal bank and US Treasury at the end of this August"  

What's the date today?  

It's not far off.  The last meeting he had was unannounced...I think him coming back to the Untied States, he's probably going to bring something he should have had done a long time ago.

Article: "Iraq is heading towards printing new paper currency"

  They're not going to print new currency in the sense of triple zero notes...There's no reason for it.  They were destroying perfectly good triple zero notes.  They did a video on it...destroying money, making little pellets.  They had a whole show on it.  

Why would they be destroying good money? 

 Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that.  That wasn't the case.  In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low?  That would create inflation.  The whole idea is not to do that.  

Article quote:  "There's no intention to print new paper currency at the central bank..." 

NDA IN CURRENCY EXCHANGE