World Court Greenlights Iraq's RV: What It Means

Starting From Rafidain Bank.. Al-Sudani Stresses The Importance Of The Banking Sector Reform Project, 18 OCT

 Banks  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting."

During the meeting, "a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking. These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the subject of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially by the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."  https://economy-news.net/content.php?id=48839

DINAR REVALUATION UPDATE , 18 OCT

 DINAR REVALUATION UPDATE

Summary

Iraq’s upcoming industrial investment law aims to boost the economy and strengthen the dinar through reforms and increased IMF reserves.

Highlights

• 📈 Upcoming parliamentary vote on the industrial investment law is crucial for Iraq’s economy.
• 💼 The law aims to attract domestic and foreign investment to diversify away from oil dependence.
• 💵 Reforms are intended to support a higher exchange rate for the Iraqi dinar.
• 📊 Recent white papers outline measures for transparency and effective governance to stabilize the economy.
• 🌍 Iraq’s IMF quota increased by 50%, enhancing its financial position and stability.
• ⏳ Timely salary payments in the Kurdistan region reflect improved financial management and economic health.
• ⚖️ Completion of the hydrocarbon law is essential for equitable revenue distribution and regional stability.

Key Insights

• 📈 Significance of Industrial Investment Law: The upcoming vote on this law symbolizes a shift towards economic reform, aiming to stimulate growth and attract investment, crucial for Iraq’s recovery.
• 💼 Diversification Strategy: By encouraging investment in sectors beyond oil, Iraq can stabilize its economy and create jobs, reducing vulnerability to oil price fluctuations.
• 💵 Currency Strengthening Efforts: A stronger dinar will enhance purchasing power and reduce inflation, aligning with the government’s goal of economic stability through strategic reforms.
• 📊 Importance of Transparency: The white papers emphasize good governance as fundamental for investor confidence, indicating that Iraq is serious about implementing necessary reforms.
• 🌍 Increased IMF Quota: Boosting Iraq’s quota at the IMF not only signifies improved financial health but also facilitates access to essential funding for ongoing reforms.
• ⏳ Kurdistan Region’s Progress: Timely salary payments signal better financial management, which can stabilize the economy and improve public services in the region.
• ⚖️ Hydrocarbon Law’s Role: The successful implementation of the hydrocarbon law is pivotal for a fair distribution of oil revenues, fostering stability and collaboration between the federal government and the Kurdistan region.

INTEL FROM A FRIEND THAT WORKS WITH THE TREASURY CONTRACTOR BY GOLDEN ERA @DINARREVALUATION

Kurdish wealth” reveals the only obstacle to the resumption of the region’s oil exports, 19 OCT

Kurdish wealth” reveals the only obstacle to the resumption of the region’s oil exports

Shafaq News / The Ministry of Natural Resources in the Kurdistan Regional Government announced on Thursday that a delegation from the Iraqi Ministry of Oil is currently in Erbil to discuss a number of issues, pointing out that his ministry does not object to transfer all of the region’s oil revenues to the federal treasury, but there is a single obstacle still waiting for the solution to resume the export of the region’s oil.

The Minister of Natural Resources of Kurdistan, Kamal Mohammed Agency, said in press statements that he expects his ministry to reach an imminent appropriate agreement with Baghdad on the issue of resuming the export of oil, pointing out that the region does not see any problem in exporting oil through SOMO and transferring all its revenues to the federal treasury, but the problem lies in the cost of extracting oil and companies are not satisfied with the amount set for them, which is $6.

Mohammed pointed out that oil companies exerted pressure on the Iraqi government to resume oil exports, pointing out that a delegation from Baghdad is currently present in the region to discuss this issue.

Mohammed stresed that the regional government provided full facilities for the resumption of export and that the companies contracted with them have been accompanied three times to Baghdad, although these companies cannot produce oil at the price allocated to them, expecting to reach an appropriate solution with Baghdad for this issue.

The Minister of Kurdish Natural Resources, Mohammed, confirmed at an energy conference last week that since the Kurdistan Region has been producing 140,000 barrels of oil per day, which means that production has decreased by half, pointing out that due to the suspension of oil exports from the Kurdistan Region, the region has lost billions of dollars and that Iraq has lost more than 16 billion dollars as a result of this suspension.

It is noteworthy that the decision to reduce oil production rates in the Kurdistan Region came at the request of Baghdad within the framework of Iraq’s commitments towards the promises it made to OPEC+.

https://www.shafaq.com/ar/كوردســتانيات/الثروات-الكوردستانية-تكشف-عن-العا-ق-الوحيد-مام-است-ناف-تصدير-نفط-الاقليم

INTEL FROM A FRIEND THAT WORKS WITH THE TRASURY CONTRACTOR BY GOLDEN ERA, (ENGLISH & SPANISH), 18 OCT

 GOLDEN ERA

I have a friend who has been working with the Treasury (contractor). He told me that we are going to get just one serving of this apple, ONE. 

They are concerned about "double dipping." They don't want people to run to the bank, exchange, then go buy more currency and try again. 

My friend is managing the database with the currency holders. If you go to the bank to change before your appointment, the bank will take your contact information because they are required to inform the Treasury that you have changed - the Treasury will know. 

Your name and contact information will be marked as "already changed" and you will not be given a private appointment. 

That means if you also have bonuses, you won't be able to redeem them. Everyone can make their own decision, but it might be wise to wait FOR THE TIME TO COME. I hope this helps. H.H

--_-

EVERYTHING is calculated to the millimeter... Maybe it is necessary to clarify why there is no shortage of those who want to be clever 🤓

 SPANISH TRANSLATION

ERA DORADA

Tengo un amigo que ha estado trabajando con el Tesoro (contratista). Me dijo que vamos a obtener una sola porción de esta manzana, UNA. 

Les preocupa la "doble inmersión". No quieren que la gente corra al banco, intercambie, luego vaya a comprar más moneda y lo intente nuevamente. 

Mi amigo está manejando la base de datos con los tenedores de moneda. Si vas al banco para cambiar antes de tu cita, el banco tomará tu información de contacto porque están obligados a informar al Tesoro que has cambiado - el Tesoro lo sabrá. 

Tu nombre y tu información de contacto estarán marcados como "ya cambiado" y no se te dará una cita privada. 

Eso significa que si también tienes bonos, no podrás canjearlos. Cada uno puede tomar su propia decisión, pero podría ser conveniente que esperes A QUE LLEGUE EL MOMENTO. Espero que esto ayude. SS

--_--

TODO está milimétricamente calculado... Tal vez hay que aclarar porque no falta el que se quiera pasar de listo 🤓

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