FRANK26: "JUST LIKE IRAN, JUST LIKE CHINA... RUSSIA YOU HAVE TO PLAY FAIR FROM NOW ON IF YOU WANT TO DO BUSINESS WITH IRAQ."...........F26
Launch of the Iraqi-Azerbaijani Businessmen Forum in Baku
9/18/2024
The Azerbaijani capital, Baku, witnessed the launch of the Iraqi-Azerbaijani Businessmen Forum on Tuesday, in the presence of the Iraqi Minister of Trade, Athir Al-Ghariri, and the Azerbaijani Minister of Economy, Mikail Jabbarov.
In a speech he delivered at the forum, Al-Ghariri referred to the depth of historical relations between Iraq and Azerbaijan, and the importance of strengthening them by establishing real partnerships between businessmen from the two countries, which would contribute to enhancing economic growth, according to the Russia Today Arabic website.
Al-Ghariri called on Azerbaijani companies and investors to enter the Iraqi market and explore available investment opportunities, stressing the need to increase the export of Iraqi products to Azerbaijan.
He stressed the importance of cooperation in the field of localizing the gold industry in Iraq, where they discussed ways to benefit from Azerbaijani expertise to support and develop this vital sector in a way that serves the Iraqi economy.
For his part, Azerbaijani Minister of Economy Mikail Jabbarov stressed his country's keenness to develop trade and investment relations with Iraq.
The forum was attended by a large number of Iraqi and Azerbaijani traders and businessmen.
I have always stated, if the dinar is ever going to go up in value, it will be based on Iraq's economic success. This is clearly the path Iraq is taking. Nothing is random. Only with the success and growth can we see an increase in value. The good news is we are seeing progress!
Kaperoni
Article: "Government advisor explains the possibility of using the dinar instead of the dollar in oil sales"
Interesting quote from Salih in that article...
Quote: "The strength and stability of the Iraqi dinar will remain linked to the factors of real growth and diversity in the national economy,"
Kaperoni
Article 1: "Is it time to remove the zeros?
"Article 2: "Is Iraq heading towards printing new paper currency?"
These articles discuss a LOP...Iraq is converting to digital currency over time removing the paper money.
Kaperoni
The discussion in Iraq is not an RV but a currency exchange LOP. Symposiums were held last fall to educate many of the citizens on such an event. There would be little to no gain, in fact, based on the numbers published it would be a loss if they did so.
Kaperoni
Community Comment: "Seems like there's some good news & some so not good. I have the feeling we aren't close, by a long shot."
I pointed out a few months ago that Iraq was ending the currency auction at the end of this year. Nothing is going to happen with the dinar until after that and they begin to diversify their economy.
Kaperoni
The Iraqi dinar is a currency of a country it's not a lottery ticket. There is no magical RV...Owning dinar is risky, which may strengthen over time, but it's a long-term investment.
Article: "Iraq speeds up steps to join WTO" Those that follow me know that we posted information that stated the Central Bank of Iraq planned to end the currency auctions at the end of this year, joining the WTO sometime next year would also benefit them.
Kaperoni
Seems to be a lot of hype lately that people are getting excited for some Dinar RV. Not how currencies work. Iraq has a lot of work to do...If and when the dinar goes up in value it will be based on the success and growth of Iraq's economy.
Kaperoni
Community Comment: "Does this have a negative, positive or neutral effect on our investment?"
Article: "Mazhar Muhammad Salih: Our cash reserves are the highest and there are no fears of the dollar rising"This is good news.
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Kaperoni
Question: "So the RV tomorrow 3:00? Lol" You need to change your thinking. There is no RV, never will be one. The only way that dinar can go up in value is 'gradually' over time based on the success and growth of Iraq's own economy.
Kaperoni
Article: "Establishment of the Commercial Arbitration Center in Iraq" Article quote: "the importance of commercial communication with various countries around the world and organizing relations in a way that achieves mutual benefit for all parties, especially as Iraq is on the verge of rejoining the World Trade Organization (WTO). He explained
that this project comes as one of the achievements within the file of Iraq's accession to the International Chamber of Commerce (ICC)." WTO requirement. Establishment of the Commercial Arbitration Center in Iraq
The Agent Oil Pastor for Extraction Issues, Basim Khudair, uncovered on Wednesday that Iraq will have an adequate number of gas to address its issues and will begin trading gas by 2030.
Khudair let the state know that the public authority has accomplished, through the Service of Oil, a significant change in the gas area as many tasks meaning to use erupted gas are in progress.
The Iraqi official stated in May that a consortium consisting of Petro Iraq and Jereh Group, a Chinese oil field services company and manufacturer of oilfield equipment, had signed a contract with the state-owned Midland Oil Company to develop the Mansouriya gas field.
The agreement is essential for the Oil Service’s endeavors to use Iraq’s gas assets following an agreement endorsed to foster the Akkas gas field, a flammable gas field in western Iraq.
Mohammed Yassin Al-Obaidi, the chief general of the Midland Oil Organization, affirmed that the creation of the Mansouriya gas field in the northeastern governorate of Diyala will arrive at 100 million cubic feet in 18 months or less.
Al-Obaidi made sense of that the most elevated creation will be 300 million cubic feet inside four to five years.
Prior in September, during a gathering with US authorities and delegates of oil firms in Houston, the US, the Iraqi Pastor of Oil, Hayan Abdul-Ghani, expressed that gas erupting in Iraq will totally come by the finish of 2028.
Abdul-Ghani made sense of that Iraq will be one of the nations that contribute significantly to diminishing gas emanations and using this energy to produce power.
The level of related gas used in Iraq was 51% in 2022 and rose to in excess of 65% in 2024, as per Abdul-Ghani.
The expanded level of related gas usage in Iraq followed a few undertakings completed by nearby and worldwide organizations.
The World Bank delivered its Worldwide Gas Erupting Tracker report in mid-June, naming Iraq, Russia, Iran, the US, Venezuela, Algeria, Libya, Nigeria, and Mexico as the nations with the most gas flares in 2023.
The report made sense of that these nine nations represent 75% of gas erupting universally and just 46% of worldwide oil yield.
The examination likewise uncovered that Iraq’s erupting force has developed, with around 17 billion cubic meters of gas consumed.
Raw natural gas that is associated with the oil also rises to the surface when crude oil is produced from oil wells. When there are no pipelines or other gas transportation infrastructure, large quantities of this related gas are frequently flared as waste or useless gas.
The gaseous petrol not combusted by a flare is delivered into the air as methane. Methane’s an unnatural weather change potential is projected to be multiple times more noteworthy than that of CO2 north of 100 years.
The majority of Iraq’s surplus gas comes from oil wells. The training altogether adds to ozone depleting substance emanations in the air, bringing about serious natural damage and environmental change. It likewise imperils the existences of the individuals who live close to erupting areas.
I would rate my warm and fuzzy feeling at about a 9.9 right now. It’s very warm and very fuzzy...it was a fantastic news week from Iraq.
They are being told budget tables are approved and HCL is coming... Redemption center/banking folks on a shortened “on call” for this weekend in case they are needed. These are people that work in wealth management for large banks….
Comment:
I am still hearing RV in September. MarkZ: I am still hearing that as well. I hope it’s accurate.
What have we gotten this week?
We have movement in the HCL…salaries are suddenly being agreed on…which imo - they could not agree on without knowing the new rates…we have them telling us the money laundering issue with Iran are taken care of…and the comment about 10 days ago from Sudani that they plan on lifting the value of the dinar during his term…
which is in the next couple of months...So buckle up and try not to lose faith
The Central Bank has contracted with Oliver Wyman Company with the intention of developing the banking and financial sector, Prime Minister Mohammed Shia al-Sudani said today, Thursday.
The State leader’s Office expressed in a proclamation got by , that “Al-Sudani got the top of the Confidential Banks Relationship, within the sight of various heads of private banks, and was advised on the issues confronting the financial area in Iraq, highlighting the actions taken by the public authority to help the confidential area by and large, and the financial area specifically, inside the need of monetary change in which the public authority has gained progressed headway.”
Al-Sudani expressed that “there is no other option except for to have fit Iraqi banks that embrace all monetary principles to take part being developed and fabricating the nation,” pushing “the significance of the Financial Affiliation managing government patterns and putting resources into open doors, making sense of the availability of Middle Easterner and unfamiliar banks whose delegates visited Iraq to help out the public authority in executing its vision and improvement plans.
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He brought up that “a higher council has been shaped to foster medicines for crafted by banks, to be in accordance with the prerequisites of work in the worldwide monetary field, focusing on that “the National Bank has contracted with Oliver Wyman Organization determined to foster the banking and monetary area.”
He educated the “Relationship of Banks to fabricate offset relations with monetary foundations, Middle Easterner banks and financial backers to help banking work,” coordinating “the planning of a draft goal to be introduced to the Board of Priests that incorporates committing services to give offices that help the financial area in Iraq.”
