UN: It's time for all Iraqis to benefit from their country's wealth, 1 FEB

 UN: It's time for all Iraqis to benefit from their country's wealth

1/31/2025  Baghdad - 

The Special Representative of the Secretary-General of the United Nations in Iraq, Mohammed Al-Hassan, said on Friday that Iraq is approaching an important constitutional entitlement, which is the elections, expressing his confidence in the ability of the Iraqi people to exercise their constitutional right peacefully and responsibly, stressing that the time has come for all citizens of the country, regardless of their affiliations, to enjoy its benefits, far from sectarian and exclusionary projects.

Al-Hassan during a press conference at the Iraqi Jurisprudence Council in Al-A'dhamiyah, followed by 964 Network :

Our message at the United Nations is a clear message: stability and security in Iraq.

Iraq is for everyone and it is a homeland that embraces everyone.

The soil of Iraq rejects sectarian, factional and exclusionary projects.

We at the United Nations believe that such sectarian and factional projects have no future in this country.

We have confidence in the awareness of the Iraqi citizen and his ability to distinguish between the good and the bad.

Today, the Iraqi citizen is yearning for more careful leaders, leaders whose concern is not to market political projects as much as it is to present projects that improve the living conditions of Iraqis in all governorates.

Projects that provide security and a decent life for all Iraqis.

The education, transportation, roads, health, electricity and other sectors need development.

The Iraqi citizen is looking forward to seeing tangible efforts in various sectors.

What we have seen in the past few years is something honorable and heartwarming.

Iraq is approaching an important constitutional entitlement, namely the elections, and we have confidence in the ability of the Iraqi people to distinguish and exercise their constitutional right peacefully and responsibly, by choosing the leaders in whom they see what fulfills their aspirations and hopes, far from sectarianism and far from exclusionary projects.

It is time for the people of this country, regardless of their affiliations, to all enjoy the blessings of this country.

The future of Iraq is a trust, sectarian projects and fear-mongering from the past and the future are over.

We wish this country all the best and prosperity and all that is good and beneficial for this country and the people of this ancient country.   LINK

REINALDO JC : IRAQ—While we investors wait for the rate to change…!!, 1 FEB

 REINALDO JC

IRAQ—While we investors wait for the rate to change…

We might as well have some fun with these Iraq news articles wordings they LOVE to use that make us go-here we go again like… 

“soon” next” delegation” meeting” technical issues” to be determined” next scheduled” “in the coming days” will agree” to complete” will be” to resolve” to hold” to continue” to discussed”

*What other words they love to use on us investors that I’m missing or you’ll can think of?

MNT GOAT: The governor of the CBI knows the Dr Shabibi plan and it can not be stopped!! #iraqidinar

 

Iraqi Bank Training on Cross-Border Payments, Financial Integrity, 1 FEB

  Iraqi Bank Training on Cross-Border Payments, Financial Integrity

30th January 2025  By John Lee.

The Washington DC-based Institute for Financial Integrity (IFI) has announced the launch of the Financial Integrity and Cross-Border Payments Training Program for the National Bank of Iraq (NBI), developed in partnership with the Central Bank of Iraq (CBI) and K2 Integrity.

According to a press release from IFI, this groundbreaking initiative aims to enhance the integrity of the Iraqi financial system by ensuring cross-border payments originating from Iraq adhere to legal requirements, regulatory expectations, and global standards. 

Designed for National Bank of Iraq employees, the training program is designed to:

Create a community of financial integrity experts at NBI to enhance the CBI's efforts in effectively addressing significant illicit finance threats to both the Iraqi and global financial systems.

Facilitate and demonstrate effective implementation of global Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) standards in line with Financial Action Task Force (FATF) recommendations and guidance.

Promote a culture of financial crime compliance and risk management throughout NBI.

Ayman Omran Abu Dhaim, CEO at National Bank of Iraq, remarked:

"Ensuring the integrity of financial transactions is crucial for fostering trust and stability in both domestic and international markets. This comprehensive training program will ensure that NBI is a leader in promoting a culture of compliance and protecting the Iraqi and global financial system from abuse by illicit actors.

The blended training program will be delivered both live as well as online through IFI's DOLFIN® platform. Key program features include:

In-depth, live training sessions led by experts from IFI and K2 Integrity

eLearning library featuring videos of experts covering core topics

Practical case studies focusing on real-world challenges and solutions

Resources and tools to support ongoing compliance efforts

Grant Kreft, Chief Executive Officer at Institute for Financial Integrity, said:

"At IFI we're proud to deliver this important training to the National Bank of Iraq... This program represents a significant step towards enhancing the regulatory framework surrounding cross-border payments in Iraq, ultimately benefiting the broader international financial community."

(Source: IFI)   LINK

ARIEL UPDATE, 1 FEB

 Ariel

People, think of it like this: these BRICS countries have used the existing dollar-based system for years relying on trade deals, borrowing in dollars, tapping into Western capital markets, and selling goods to Western economies.

That’s essentially how they’ve grown in the first place. Now, if they want to run off and form their own “clubhouse,” they can’t just pretend all those obligations, debts, and ties don’t exist.

A lot of their loans and bonds are denominated in dollars (or other Western currencies). They can’t just walk away from that without serious consequences defaulting or trying to switch currencies mid-stream is messy. You still have to pay back what you borrowed.

This is like a child who built a clubhouse in the backyard who no longer think they need their parents and assume they have authority now because they no longer use the main house for survival. Life doesn’t work this way. You have to earn your place and go through the growing pains.

Your house duties doesn’t dissappear because you think you’ve gained independence just because you got a tree house outside. Cleaning your room. Taking out the trash. Doing your laundry. Cleaning the basement. And mowing the lawn still has to be done. This does not go away because you got snacks and a backpack in your tree house.

REINALDO JC : IRAQ—While we investors wait for the rate to change…!! @DINARREVALUATION #iraqidinar

 

Two Experts For {Al -Sabah}: Cash Reserves For Iraq {Reassuring}, 1 FEB

Two Experts For {Al -Sabah}: Cash Reserves For Iraq {Reassuring}
 
Economic 2025/01/30  Baghdad: Shukran Al –Fatlawi  Two economic experts saw that the current monetary reserves owned by Iraq are "reassuring" and are the best compared to previous years.
 
Iraq ranked third in the Arab world with foreign exchange reserves for the year 2024, after both Saudi Arabia and the UAE. Academic Dr. Nabil Al -Marsoumi told Al -Sabah:

“Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024, pointing out that despite the slight decrease in the foreign cash reserves in the Central Bank of Iraq from (109,153) billion dollars in the year 2023 to the year to 2023 to (106.7) billion dollars in the year 2024, according to the data of the Central Bank of Iraq, as a result of the operations of deducting remittances for the Iraqi government,
 
but the financial situation in Iraq is still coherent, and
 
it ranks third after both Saudi Arabia and the UAE, which is the reserve rate in them (499) billion A dollar for Saudi Arabia and (210) billion dollars as a reserve for the Emirates. He added that
 
Currency reserve
 
the country has large cash reserves, which is greater than 100 percent of the size of the exported currency,
 
usually the percentage of a country like Iraq that maintains  cash reserves equivalent to between 20 to 40 percent of the size of the currency exported in positive, indicating that
 
the financial situation is reassuring that it exceeded 100 percent
 
Therefore, the cash reserve in the country is very large, pointing to the importance of the matter, as
 
it represents a wall in the face of crises that can happen, even if it is caused by the low price of oil.
 
Deduction
 
And that the central bank can provide a great protection for the Iraqi government if it needs some financial supplies by deducting transfers from government banks, pointing out that  the financial situation in the country is among the most prosperous years in terms of foreign cash reserves. 

And that  this contributes to

     reassuring foreign investors and
     providing a safe investment environment and
     maintaining the fixed tie price that Iraq adopts for the dinar against the dollar, pointing out that
 
the monetary stability of any country is a very important goal in attracting and reassuring foreign investors, as well as its work in promoting local investment in particular The central bank has initiatives, especially those related to housing and sustainable development movement initiatives.

Third place
 
Al -Marsoumi stated that Iraq's third place in the Arab world in terms of possessing foreign cash precautions is very important, for economic reasons at the forefront, helping to maintain the value of the local currency at a fixed price, and maintain liquidity to fulfill international financial obligations, as well as financing internal projects and reassuring investors Not to mention the diversification of investment portfolios.
 
Financial stability
 
For his part, the researcher on economic affairs, Imad Al -Mahmoudawi, in Al -Sabah, the
 
cash reserve of any country, considered a source of financial stability, and a repetition of any financial storms that the economy can face, pointing out that it avoids financial pressure and revives sustainable development. He pointed out that the
 
cash precautions are defined as money that can be
 
     kept to face crises and
     meet the needs, without the need to borrow, as well as it
     helps in preparing flexible financial strategies that enable the country to carry out projects with flexibility and confidence,
 
pointing at the same time to the need for multiple sources of income and not to keep On the oil material as an essential source of income to increase precautions and achieve sustainable development that is in the interest of Iraq and its children. It is noteworthy that the
 
monetary reserve is defined as the total deposits and bonds of foreign currencies that central banks and cash authorities in the state are kept,
 
in order to
 
     support the local currency and
     pay the debts owed by the state, and
 
the cash reserve is usually consisted of elements, which are foreign currencies, such as the
 dollar  The  euro, Japanese yen and  other currencies, or what central banks possess of gold.    
https://alsabaah.iq/109314-.html