Launching Of The Activities Of The International Scientific Conference Under The Slogan "Development And Financial And Economic Stability To Restore Confidence In The Dinar"
Tuesday 15 October 2024 | Economic Number of readings: 345 Mosul/ NINA / The activities of the international scientific conference were launched at the University of Mosul under the slogan "Development and Financial and Economic Stability to Restore Confidence in the Dinar.
Nineveh Governor Abdul Qader Al-Dakhil said during his attendance at the conference that Nineveh Governorate is regaining its health with its universities and scientific expertise."
The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 13 banks, and the total number of exchange companies participating in the auction was 8 companies. LINK
PHONE CALL UPDATE WITH CBI CONTACT : TAKING STEPS TO GO INTERNATIONAL
Summary
The CBI is progressing towards digital banking and international standards, signaling significant changes for the Iraqi dinar.
Highlights
🌍 CBI is moving towards international banking connections.
💳 Iraq will enhance its digital banking infrastructure.
📈 The Iraqi dinar’s value is expected to increase with digital integration.
🚪 Iraq is set to end its currency auction window by year-end.
🏦 Iraq aims for World Trade Organization accession.
📲 Young Iraqis are encouraged to adopt digital technology.
🛠️ Automated customs systems are being implemented for trade efficiency.
Key Insights
🌐 Global Integration: The CBI’s shift towards international banking systems is vital for the dinar’s global acceptance and value enhancement.
💻 Digital Banking Revolution: Iraq’s movement towards digital banking aims to modernize its financial system, facilitating smoother transactions and reducing reliance on cash.
📊 Value Appreciation: Digitizing the economy should help stabilize and increase the dinar’s value in the global market, benefiting holders of the currency.
🔒 End of Currency Auctions: The elimination of the currency auction window is a step towards transparency and regulation, which may further enhance the dinar’s credibility.
📈 WTO Membership Goals: Achieving full membership in the World Trade Organization will allow Iraq to engage in international trade more effectively, boosting economic growth.
📱 Youth Engagement: Encouraging younger generations to adopt digital banking will help create a tech-savvy economy, ensuring long-term sustainability and growth.
📋 Customs Automation: The implementation of automated customs systems will streamline trade processes, reducing corruption and improving data accuracy at borders.
ERBIL— An arrest warrant has been issued for the acting head of the Iraqi Corruption Commission, Judge Haider Hanoon, after investigations revealed that a leaked recording of Hanoon taking bribes matches his voice, according to an informed source who spoke to local Iraqi media on Tuesday.
Iraqi media reports that following a report from the Judicial Investigation Directorate of the Ministry of Interior, which confirmed a 100% match between Hanoon's voice and that on the recording of him accepting bribes, an arrest warrant has been issued.
On Monday, October 7, the Iraqi judiciary formally issued the arrest warrant for Hanoon.
According to a judicial source, the Third Investigation Court of Karkh in Baghdad issued the warrant due to Hanoon's failure to appear in court for the charges against him.
"The court has sent notices to Hanoon multiple times to appear, but he has not complied," the source added.
In mid-September, the Iraqi Supreme Judicial Council announced that it had taken legal action against Judge Haider Hanoon, following his remarks at a news conference in Erbil last month.
Hanoon criticized Judge Zia Jaafar for revealing the details of the Iraqi "thief of the century" during a press conference held in Erbil. He also expressed his anger at accusations leveled against the council regarding the disappearance of classified documents related to one of the main culprits, known as "Nur Zuhair."
💢Aries Sun99, Liberty Lounger Extraordinaire, provides an insightful bank story which confirms new developments. 9.27.24
💢Aries Sun99: Good Evening Ginger! I am currently a member of the Liberty Lounge and the GLL World Changers channels. Thank you so much for your dedication in educating us and spreading God’s love across the cosmos.
I have a bank story to share.
I currently use Chase as my primary bank for most of my transactions.
I’m in New England (NE USA for those who are not in America). Two weeks ago, I went to withdraw money from the Chase closest to my job. I didn’t have my debit card on me and was told at the counter that I needed to have TWO forms of ID to withdraw cash.
Since I had run out on my lunch break, I only had my passport with me. The agent and I went through such a lengthy process to verify my identity, including sending push notifications to my phone to show that it’s my account. Despite all of this, they told me that I couldn’t withdraw funds unless I had BOTH my passport and/or Driver’s license (other bank card, etc)
Fast forward to today, I went to the Chase closer to my home to withdraw my rent.
As I approached the counter, I gave the Agent my passport and driver’s license. She then responded to me that she only needed my passport. This is where it threw me off.
I mentioned to her that two weeks prior I had gone to another branch and the system would literally not allow me to withdraw without two forms of ID.
She responded - “It must’ve been the OLD system. Some branches are still in the process of switching over to the NEW system. I just need a national ID (passport) to prove your identity.”
At the time, I didn’t think much of it as I was with my overstimulated toddler, but once I left I realized this is what you’ve been preparing us for!
I hope this can serve as confirmation or even an informational story for folks. Thank you!
ERBIL— The US Federal Aviation Administration (FAA) on Tuesday extended restrictions on US commercial flights over Iraq for an additional three years, citing ongoing security risks from Iranian-aligned militias and military operations.
The decision extends the prohibition on flights below certain altitudes through October 2027, underscoring the continued threats in Iraqi airspace, according to Reuters.
The FAA’s restrictions also apply to foreign operators that serve as code-share partners for US airlines. In a recent incident, the US Department of Transportation fined Air Canada $250,000 for conducting flights through restricted Iraqi airspace in 2022 and 2023, in violation of the ban.
The FAA first imposed the airspace restrictions in 2014 due to escalating violence and instability in Iraq, particularly with the rise of the Islamic State.
Though the extremist group has since been largely defeated, the threat from other non-state actors, including Iranian-backed militias, has persisted. The region remains volatile, with militia groups occasionally targeting US military and diplomatic assets, further heightening security concerns.
Tensions have also escalated in recent months amid growing instability in the Middle East, particularly due to US-Iranian tensions. Iraqi territory has often been used as a battleground for proxy conflicts between Iranian-aligned militias and US interests. This environment of uncertainty has necessitated the FAA’s cautious approach to commercial air travel in the region.
The FAA’s action reflects a broader US effort to mitigate risks to civilian aviation in conflict zones. The agency has imposed similar restrictions over other high-risk areas, including parts of Ukraine, Syria, and Yemen, where military conflicts and security threats could endanger commercial aircraft.
Despite Iraq’s efforts to rebuild and stabilize its aviation sector, particularly in the wake of Islamic State’s defeat, the continued presence of Iranian-backed militia groups and their involvement in regional conflicts have raised concerns about the safety of Iraqi airspace. As the country remains a focal point in the broader US-Iran confrontation, the extension of these flight restrictions underscores the fragile security situation.