Tuesday, October 1, 2024

Second phase of the PROSPECTS partnership in Iraq, 1 OCT

 Launch of the second phase of the PROSPECTS partnership in Iraq The Government of Iraq has officially launched the second phase of the PROSPECTS partnership in Iraq, which is funded and led by the Netherlands Government.

With a total investment of 46 million USD over four years, this project aims to offer refugees, internally displaced people (IDPs), and vulnerable host communities in Iraq comprehensive social support. In close collaboration with Iraqi authorities, the program is being carried out by five organizations: UNHCR, UNICEF, ILO, IFC, and the World Bank.

Senior members of the Iraqi government, including members of the Kurdistan Regional Government (KRG), the Netherlands Embassy, PROSPECTS partners, and youth representatives from both the refugee and host communities, attended the launch event in Baghdad.

H.E. Dr. Ahmed Saad, the Minister of Youth and Sports, stated:

“By providing Iraq’s young people and the most vulnerable population with the skills and opportunities they need to succeed, the PROSPECTS program is an essential initiative.” We are building a brighter, more sustainable future where every young person can contribute to the country’s development by working with our partners.”

Ms. Zakya Salih Abdulkhaleq, the Deputy Minister of Labor and Social Affairs in the KRG, emphasized the program’s impact on youth employment and vocational training. According to the statement, “The PROSPECTS Partnership in KRI created job opportunities and provided vocational training for youth, which contributed to the reduction of unemployment in the region.”

“Because it supports the establishment of a comprehensive social protection system in the region, KRG considers the Cash Transfer Project under PROSPECTS for poor and vulnerable households and individuals in Duhok governorate to be a strategic project for the region.”

The Kingdom of the Netherlands’ Ambassador to Iraq, Her Excellency Janet Alberda, made the following comment:

“In the first phase of the PROSPECTS partnership, we achieved excellent results, but this crucial work must be continued. We need to make sure that all of the displaced communities in Iraq receive real, long-lasting solutions. People should be able to choose where they want to live on their own, bringing with them the knowledge, skills, and opportunities they’ve gained along the way.

The Netherlands’ flagship PROSPECTS program promotes increased collaboration between humanitarian, development, and private sector actors to support Iraq’s long-term stability, demonstrating the country’s substantial commitment to the humanitarian-development nexus. The first phase’s accomplishments, which included enrolling nearly 4,000 displaced children in secondary education, providing microfinance loans to over 130 refugee entrepreneurs, and providing vital civil documentation to over 45,000 IDPs, are built upon in the second phase.

From 2024 to 2027, the PROSPECTS Partnership’s second phase will concentrate on four main pillars:

The goal of the Protection and Social Protection pillar is to make sure that all refugees, internally displaced people, children, and people at risk of becoming stateless, even those with complicated cases, can get their basic civil documents. Legal assistance will be provided to refugees and asylum seekers to ensure their access to asylum and prevent refoulement, and legal assistance will be provided to IDPs and IDP returnees to access civil documentation. Additionally, this will aim to strengthen legal frameworks to better protect individuals at risk of statelessness, refugees, and asylum seekers.
The Education and Learning pillar will strive to provide refugee children, particularly the most vulnerable (girls and children with disabilities), with access to a high-quality education comparable to that of students in the local community. It will also aim to equip young people with the necessary skills for entry into the labor market.
Through enabling policies and mechanisms, the Employment with Dignity pillar will concentrate on providing displaced people and their host communities with access to decent jobs and economic opportunities.
The Critical Infrastructure pillar will try to restore infrastructure that was damaged or destroyed by the conflict, like schools’ water and sanitation facilities.
Iraq is home to over 324,000 refugees, 87% of whom reside in the Kurdistan Region of Iraq (KR-I), as well as over one million internally displaced people, 134,000 of whom are residing in 21 IDP camps in the KR-I. Although Iraq has made significant advancements in terms of stability and development, it is still essential to continue working with partners in order to guarantee a prosperous future for all of its citizens. The second phase of PROSPECTS will make sure that refugees, internally displaced people, and host communities get long-term solutions. This will give them the freedom to choose their own futures and use the skills and opportunities they’ve learned through the program.

The commitment of all parties involved was reaffirmed at the launch event to continue providing long-term, measurable solutions for Iraq’s most vulnerable populations.

The PROSPECTS program is one component of a larger global initiative that is being carried out in eight nations that host refugees in the Middle East, North Africa, East and Horn of Africa, and Great Lakes regions.

THE CENSUS IS NOW BY FIREFLY, 1 OCT

 Frank26 

 [Iraq boots-on-the-ground report] 

 FIREFLY: The census is now...November 20th and the 21st.  We will have a curfew during those days.

THEY ARE SHOWING ADVERTISING THAT THE KUWAIT DINAR IS AT $3.58 BY FIREFLY, 29 SEPT

FIREFLY: There are TV commercials advertising that the Kuwait dinar is at $3.58.  They are talking about our new border agreement with Kuwait.  The fact they bring up this rate tells me they want to talk about our new rate against it.   

FRANK:   They are talking to you about Kuwait because they need an example to show you what is about to happen to your currency, your purchasing power, to show you what is going to happen to your exchange rate.  There will be a change coming.

DINARLAND UPDATE: RECENT UPDATES FROM BRUCE @DINARREVALUATION

"RAFIDAIN IS ONE OF THE BANKS THAT WILL PARTICIPATE" BY FRANK26, 1 OCT

 KTFA

FRANK26: "RAFIDAIN IS ONE OF THE BANKS THAT WILL PARTICIPATE".......F26

Rafidain: Continuing to update data and information to ensure safety from money laundering suspicions

 

9/27/2024

 

Baghdad - WAA

Rafidain Bank announced, today, Friday, the continuation of updating data and information to ensure safety from suspicions of money laundering.

The bank's media office stated in a statement received by the Iraqi News Agency (INA), that "in implementation of government directives and instructions of the Central Bank of Iraq / Anti-Money Laundering and Terrorist Financing Office, the Money Laundering and Terrorist Financing Reporting Department at Rafidain Bank conducted field visits to the bank's branches in Baghdad and the governorates," noting that "the risks of money laundering and terrorist financing and the mechanisms to combat them and report suspicious transactions and monitor them using available means and methods."

He added that "the visits concluded with auditing the work of liaison employees and following up on updating the (KYC) form, which ensures the safety of customers' funds and accounts from any suspicions of money laundering," noting that "due diligence measures are taken for companies and customers according to the Anti-Money Laundering and Terrorist Financing Law."

LINK

RV UPDATE BY MILITIAMAN , 1 OCT

 Militia Man 

 In the last week or so...there's probably five or six articles specifically talking about removing zeros from the Iraqi dinar...

 Quote:  "...this is done by removing a specific number of zeros from the nominal value of the currency." 

 From the value of the currency not the currency notes but the value of the currency...


 Article: "Minister of Transport announces the establishment of the Joint Maritime Authority between Iraq and Britain"

 ...Massive amounts of trade is coming to the ports of Iraq... I suspect Al-Sudani and his teams are fully aware of the priorities needed to make it all happen.

DINARLAND HIGHLIGHTS!!! @DINARREVALUATION

What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher, 1 OCT

  What would happen to the Iraqi dinar if the zeros were removed? Comment by Dr. Mahmoud Dagher


9/29/2024

Economist Mahmoud Dagher pointed out that deleting zeros will not change inflation rates or the purchasing power of the dinar, stressing that the importance of the process is summarized in the “psychological impact” and “facilitating accounting transactions,” in addition to knowing the sources of capital in the event that opening a bank account is required to replace the old currency with the new one.

Mahmoud Dagher, financial and banking expert, in an interview with media figure Muhammad Qais, followed by 964 Network :

The idea of ​​deleting zeros has been on the mind of the Central Bank of Iraq for a long time, and it is under consideration. We will not be the first country to move towards this option, as Turkey, for example, preceded us by deleting six zeros from its national currency many years ago.

But let us start by removing the illusion. Removing the zeros will not change the purchasing power of the dinar, and it does not affect inflation rates at all, because the amount of legal tender issued by the Central Bank will never change. Instead of carrying a bundle of 50,000 dinar notes, it will be possible to compress them into a smaller number of notes after removing the zeros, and this will not change their purchasing power.

The amount of money on offer, according to my observations, is equal to 105 trillion dinars, and after removing the zeros, the amount will be 105 billion dinars, which is exactly the same amount, and the exchange rate will change from 1320 dinars per dollar to 132 dinars per dollar.

The Iraqi dinar is linked to the dollar, as Iraq adopts a fixed exchange rate system, or a soft peg system, according to the classifications of the International Monetary Fund, and this system has been adopted by us since 2004 until now.

The most important benefits of deleting zeros are the psychological impact on the citizen and the symbolic value of the history of the Iraqi dinar, and this is important, but more important than this is facilitating the accounting processes, as companies and individuals face many obstacles in accounting due to the huge numbers circulated in economic transactions.

Removing zeros, or changing the currency in general, may help in identifying the sources of money in the market, as it is assumed that a condition should be set for opening a bank account for every person who wants to change the type of currency in his possession, and in this way the central bank will know the sources of capital for individuals, and the door to replacement must be with a specific time limit to pressure the owners of capital.

It is better for the currency replacement process to be accompanied by intensive electronic payment activity. The process may also include changing the type of currency to “polymer” with a plastic material that increases the life of the currency and reduces the factors of physical damage to it, as Egypt and the Emirates have done with some categories of their national currencies.

The strength of a currency is not measured by the number of foreign currency units linked to it, but rather by the stability of exchange rates. This is the indicator relied upon by investors to assess the extent of risks in any economy.


LINK

In detail.. The Iraqi budget is subject to political and economic amendments on Tuesday, 25 nov

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