Due to the Kurdish boycott, a representative reveals the reasons for postponing the budget reading , 8 DEC

   Due to the Kurdish boycott, a representative reveals the reasons for postponing the budget reading 

Today, Saturday, the representative of the Al-Fatah Alliance, Walid Al-Sahlani, revealed the reasons for raising the budget paragraph, while pointing out that there are multiple points of view regarding the paragraphs that need to be amended.

Al-Sahlani said in a statement to Al-Maalouma Agency, “The Parliamentary Finance Committee requested to postpone the reading of the budget law for a second reading until the Minister of Finance is hosted.”

He added, "The Kurdish parties refused to enter the session because the budget paragraph was removed from the agenda."

He pointed out that "the Kurdish parties insist on presenting the budget without the need to host the Minister of Finance." 

He pointed out that "the majority of the members of the House of Representatives requested to host the Minister of Finance before starting to read the budget amendment."  link

GOLDILOCKS: Banks Preparing For New Currency Exchanges - ALL Test Completed!!!, 8 DEC

 GOLDILOCKS: Banks Preparing For New Currency Exchanges - ALL Test Completed

Summary

Banks are gearing up for new currency exchanges with all tests successfully completed, indicating a major financial shift is on the horizon.

Highlights

• 🚀 Banks are readying for new currency exchanges.
• ✅ All tests for the new systems have been completed.
• 🌍 This move signals a potential global financial shift.
• 📈 Increased efficiency in currency transactions is expected.
• 🔒 Enhanced security measures are in place.
• 🏦 Major banks are collaborating on the initiative.
• ⏳ A timeline for implementation is anticipated soon.

Key Insights

• 🌐 Global Impact: The readiness of banks for new currency exchanges could reshape international trade dynamics, influencing global economies.
• 🛠️ Technological Advancements: The completion of tests suggests significant technological innovations, streamlining processes and improving user experience.
• 🔍 Security Enhancements: With new systems, banks are prioritizing security, addressing concerns over fraud and cyber threats in currency transactions.
• 📊 Market Reactions: Anticipation of these changes may lead to shifts in currency values, affecting investors and trading strategies.
• 👥 Collaborative Efforts: The cooperation among major banks highlights a unified approach, signaling confidence in the new currency exchange framework.
• 📅 Implementation Timeline: Stakeholders are keenly awaiting the announcement of an implementation timeline, which will guide market preparations and responses.
• 🔮 Future Prospects: This initiative could pave the way for new financial products and services, enhancing consumer options in currency management.

BRUCE: THEY MUST PAY OUT THEIR CITIZENS IN NEWLY RENOVATED RATE @DINARREVALUATION #iraqidinar

 

Source: Iran resumes gas supply to Central Iraq, 8 DEC

 Source: Iran resumes gas supply to Central Iraq

On Friday, Iran began gradually resuming gas supplies to power plants in central Iraq following the completion of maintenance work on gas transmission lines, a government source revealed.

The source told Shafaq News that electricity supply is expected to improve in the coming hours in central regions, particularly in Baghdad, Wasit, Diyala, parts of Al-Anbar, and other provinces.

The resumption came after a two-week suspension of Iranian gas supplies for maintenance, which had caused the Iraqi national power grid to lose about 5,500 megawatts of electricity, according to the Ministry of Electricity's announcement on November 24.

Notably, Iraq has relied on scheduled power cuts since the 1990s due to chronic electricity shortages. Residents often turn to private generators to fill the gap.

To supplement its needs, Iraq imports 33-40% of its gas and electricity from Iran. However, US sanctions on Iran have complicated payment for these imports, restricting Iran's access to funds for purchasing non-sanctioned goods like food and medicine.

In light of these challenges, Baghdad has been pursuing alternative energy strategies, including regional grid connections to secure stable electricity supplies without relying on fuel.

Iraq has also sought to diversify its gas imports, signing a preliminary agreement with Turkmenistan in August 2023 to supply gas for its power stations.

On the other hand, the United States continues to pressure Iraq to reduce its reliance on Iranian gas, despite Iraq’s status as the second-largest oil producer in OPEC.  link

BROTHERS TECHNOLOGY: BANKS ARE READY TO GO AND SO ARE WE, 8 DEC

 BROTHERS TECHNOLOGY

It’s almost CELEBRATION TIME for the PM directed parliament to proceed with the amendment to the budget and my brother

@majeed66224499

aka Dr ChatGPT PROVES THE GREEN LIGHT

as you see Banks are READY TO GO and so are we, look see the oil amendment is complete and get ready

Iraq is ready for takeoff citizens get ready for your surprise is any hour from this Point.

---

ChatGPT purpose for the acronyms in this is amazing and the CBI training employees in these certifications is in preparation for global forex markets and internationalization for Iraq Banking system.

JON DOWLING: "Iraq’s HCL Oil &Gas law ITS READY TO GO TO THE GAZETTE @DINARREVALUATION #iraqidinar

 

The Governor Of The Central Bank Chairs A Meeting Of The Rafidain Bank Restructuring Project Committee, 8 DEC

 The Governor Of The Central Bank Chairs A Meeting Of The Rafidain Bank Restructuring Project Committee

 
December 05, 2024  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the Rafidain Bank restructuring project.
 
While the committee for this project included
 
     Mr. Undersecretary of the Iraqi Ministry of Finance, Rebaz Muhammad Abdullah,
     officials of the Central Bank of Iraq, the
     State Advisor to the Prime Minister, the
     head of the World Bank mission in Iraq, and a
     representative of Rafidain Bank, as well as
     members of Ernst & Young as an expert auditor and consultant in the structuring process.
 
The Regional Director of the World Bank in Iraq, Mr. Emmanuel Salinas, explained the reality of working on this project, in which  he presented the opportunities available within the banking work environment in Iraq and the mechanism for developing the structuring plan in its operational and financial aspects.
 
Meanwhile, Mr. Firas Kilani, an expert in the structuring project from Ernst & Young, explained that
 
the project has
 
     progressed very significantly since its start in September of 2024 and has
     currently reached 74%.
 
The next phase of the scope of work will be completed at the end of this month, and the   
transition to the phase advanced in this project.

While His Excellency the Governor confirmed that the support of the Prime Minister of Iraq in this aspect positively accelerated the progress of the project, to reach important stages in the structuring and development process in the Rafidain Bank. 

Central Bank of Iraq   Media  Office         https://cbi.iq/news/view/2728