News — Dinar Recaps Blog Page — Dinar Recaps (2024)

KTFA:

Clare: The government sees clear indicators: the parallel dollar will be equal to the official one

5/26/2024 Baghdad

Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.

Saleh said in a press statement followed by “Baghdad Today” that “the price of the dollar will be 1320 dinars in the coming days,” noting that “the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Abilities of operating banks to comply with external transfer rules.

He explained that "the indicators are witnessing a cumulative rise, according to which the percentage of requested and executed requests in foreign currency for the benefit of financing foreign trade for the private sector through official transfer ports has increased, which has increased to more than 85%."

For more than two months, the exchange rates of the dollar against the Iraqi dinar have stabilized around 145 thousand dinars per 100 dollars, after it was between 155 and 160 thousand dinars per 100 dollars, while the decline in the exchange rate coincided with an increase in the amount of the Central Bank’s sales of dollars. LINK

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Clare: Al-Haims announces joint cooperation to list government bonds on the Iraq Stock Exchange

5/26/2024

Baghdad - IA - Wissam Al-Mulla

Today, Sunday, Chairman of the Securities Commission, Faisal Al-Haims, announced joint cooperation with the Central Bank and the Ministry of Finance to list government bonds on the Iraq Stock Exchange.

Al-Haimas told the Iraqi News Agency (INA): “The authority is independent and affiliated with the Council of Ministers. Its work is to monitor the trading of bank shares to complete their requirements and list them in the Iraq Stock Exchange, by submitting financial statements according to the required timelines.”

He pointed out, "There has been great cooperation during the recent period with the Central Bank and the Ministry of Finance to list government bonds in the Iraq Stock Exchange." LINK

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Clare: Iraq and Iran are discussing ways to strengthen relations in the oil and energy sector

5/26/2024

The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, met on Sunday with the Ambassador of the Islamic Republic of Iran to Iraq, Muhammad Kazem Al-Sadiq.

The Ministry of Oil stated in a statement, “During the meeting, they discussed bilateral relations between the two countries in the oil and energy sector, and ways to enhance them in service of common interests.” LINK

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Clare: The Prime Minister confirms the government’s aspiration towards consolidating joint cooperation with Oman

5/26/2024 Baghdad

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Sunday, the government’s aspiration towards consolidating joint cooperation with Oman.

A statement issued by the Prime Minister’s Media Office, received by the Iraqi News Agency (INA), stated that “Prime Minister Muhammad Shia’ al-Sudani received today the Ambassador of the Sultanate of Oman to Iraq, Hamid bin Ahmed Aidaroos, on the occasion of the end of his work duties.”

According to the statement, Al-Sudani appreciated “the efforts made by the Omani ambassador during his tenure in Iraq,” expressing his “wishes for success in his future duties.”

He stressed "the importance of bilateral relations between the two countries, and the government's aspiration towards consolidating and developing joint cooperation at various levels," noting "the importance of coordinating efforts to confront the challenges in the region as a result of the continued aggression against Gaza and the expansion of the conflict, which has been reflected in the security and stability of the region."

For his part, Aidaroos expressed his "appreciation for the extent of the cooperation he received during his work in Iraq," stressing "his country's government's keenness to strengthen bilateral relations and raise the level of cooperation in several fields, in order to achieve the interests of the two countries and the prosperity of their people." LINK

Clare: Nechirvan Barzani: The environment is suitable for Qatari investment in Iraq and the region

5//26/2024

The President of the Kurdistan Region, Nechirvan Barzani, received today, Sunday, the Secretary-General of the Qatari Ministry of Foreign Affairs, Ahmed bin Hassan Al-Hammadi.

The Presidency of the Region said, in a statement received by Shafaq News Agency, that the meeting was attended by the Ambassador of Qatar to Iraq and the Consul General of the State of Qatar in Erbil, indicating that the two sides stressed the development of Qatar’s relations with Iraq and the Kurdistan Region, and they also talked about Qatari investment opportunities in Iraq and the Region.

The Qatari delegation affirmed its confidence in Iraq and the Kurdistan Region, and its desire to develop relations in the economic and commercial fields that Qatar is opening in Erbil.

The delegation also expressed its willingness to invest in the fields of energy, tourism, agriculture, education, health and many other fields.

Barzani congratulated the Qatari delegation on the opening of the Consulate General in the Kurdistan Region, and stressed that the environment is suitable for Qatari investment in Iraq and the Kurdistan Region, especially in infrastructure projects.

He also expressed his gratitude for the support of the State of Qatar and its assistance to Iraq and the Kurdistan Region, noting that Iraq and the Kurdistan Region have many partnerships with Qatar.

During the meeting, the situation in the region and a number of issues of common interest were also discussed. LINK

Iraq Economic News and Points To Ponder Sunday Afternoon 5-26-24

Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day

Time: 05/25/2024 18:38:18 Read: 1,261 times {Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, confirmed today, Saturday, Iraq’s ability to produce 5 million and 700 thousand barrels per day after working on 18 or more oil fields.

Al-Jawahiri said {to Al-Furat News} that:

“There was an increase in Iraq’s oil production, which does not mean that it will be pumped to the markets or produced because it is committed to OPEC’s decisions.” He added,

"Iraq currently has a production capacity of one million and 500 thousand barrels that can be added due to the work being done on 18 or more oil fields, and

it can raise its production from 4 million and 200 thousand barrels of oil per day to 5 million and 700 thousand barrels per day."

Al-Jawahiri added, "With regard to the issue of gas production, we find seriousness from the government towards this matter and we hope for its success, if work continues at this pace."

The Minister of Oil, Hayan Abdul Ghani, announced in his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, that 29 promising projects were proposed within these licenses to advance industry and gas wealth. He explained that

the licensing rounds have an impact by adding two million barrels of oil to national production, while stressing the imminent announcement that Iraq's oil reserves will rise to 160 billion barrels.

https://alforatnews.iq/news/خبير-نفطي-العراق-قادر-على-إنتاج-5-ملايين-و700-الف-برميل-يومياً

The New Refineries Stop Iraq's Import Of Diesel.. Has The Purchase Of Gasoline Increased In Return?

Economy ​ 05-17-2024, 19:00 |Baghdad today - follow-up Commercial data revealed that Iraq stopped importing “diesel” or “kerosene” according to long-term contracts, due to achieving sufficiency as a result of the development of refineries.

However, the data indicated an increase in the import of gasoline according to futures contracts for this year compared to last year, in contrast to the Ministry’s data.

Oil imports decreased by 8 million barrels per day after the opening of the Karbala refinery, it says.

According to a report published by Bloomberg and followed by “Baghdad Today,”

Iraq suspended diesel import contracts after the modernization of some refineries contributed to enhancing local production, which put the country on the path to achieving self-sufficiency in fuel, as

Iraq ended purchase deals at the end of last year and did not buy fuel. Under long-term contracts so far in 2024, according to traders participating in the market.

Market data provider Vortexa indicated that the country had purchased three shipments of diesel this year, but traders said they were spot shipments.

Fixed Term Deals

However, Iraq is still buying gasoline under fixed-term deals, according to traders who requested anonymity because the information is not public, according to Bloomberg.

The country aims to stop imports of fuel used to operate cars as soon as this year.

Hamed Younis, Undersecretary of the Ministry of Oil for Refining Affairs, said last February that the country is working to renovate the refineries that were damaged during two decades of war, with the North Refinery restarting in 2024, with other refineries to follow.

Benzene

Iraq imported 2.83 million barrels of diesel last year, or about 7,800 barrels per day, according to Vortexa.

It also held a tender to purchase about 55,000 barrels per day of gasoline on average until the end of this year, according to traders, and

this represents an increase from about 43,000 barrels. of seaborne gasoline was saved daily on average last year, according to Vortexa.

Baghdad buys gasoline from the trading units of Saudi Aramco, Reliance Industries, and Omani state energy company OQ, among other companies, according to traders and Vortexa ship-tracking data.

Traders said that these companies supply under long-term contracts, which Iraq continued this year.

https://baghdadtoday.news/249593-المصافي-الجديدة-توقف-استيراد-العراق-للديزل.-هل-ارتفع-شراء-البنزين-بالمقابل؟.html

Oil Expert: Iraq Is Capable Of Producing 5 Million And 700 Thousand Barrels Per Day

Time: 05/25/2024 18:38:18 Read: 2,197 times {Economic: Al-Furat News} The oil expert, Hamza Al-Jawahiri, confirmed today, Saturday, Iraq’s ability to produce 5 million and 700 thousand barrels per day after working on 18 or more oil fields.

Al-Jawahiri said {to Al-Furat News} that: “There was an increase in Iraq’s oil production, which does not mean that it will be pumped to the markets or produced because it is committed to OPEC’s decisions.”

He added, "Iraq currently has a production capacity of one million and 500 thousand barrels that can be added due to the work being done on 18 or more oil fields, and it can raise its production from 4 million and 200 thousand barrels of oil per day to 5 million and 700 thousand barrels per day."

Al-Jawahiri added, "With regard to the issue of gas production, we find the government is serious about this matter and we hope for its success, if work continues at this pace."

In his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, Oil Minister Hayan Abdul Ghani announced that 29 promising projects were proposed within these licenses to advance industry and gas wealth.

He explained that the licensing rounds have an impact by adding two million barrels of oil to national production, while stressing the imminent announcement that Iraq’s oil reserves will rise to 160 billion barrels. LINK

Iraq's Oil Exports To America Increased Within A Week

Energy Economy News _ Baghdad The US Energy Information Administration announced on Sunday that Iraq's oil exports to America rose during the past week.

The administration said in a table seen by Al-Iqtisad News, “The average US imports of crude oil during the past week from eight major countries amounted to 5.241 million barrels per day, a decrease of 406 thousand barrels per day compared to the previous week, which amounted to 5.647 million barrels per day.”

She added, "Iraq's oil exports to America amounted to 239,000 barrels per day last week, an increase of 116,000 barrels per day from the previous week, which amounted to 123,000 barrels per day."

The administration indicated that "the majority of America's oil revenues during the past week came from Canada at an average of 3.495 million barrels per day, followed by Saudi Arabia with an average of 486 thousand barrels per day, followed by Brazil with an average of 315 thousand barrels per day, and from Colombia at an average of 215 thousand barrels per day."

According to the table, “the amount of American imports of crude oil from Mexico was at a rate of 184 thousand barrels per day, from Ecuador at a rate of 163 thousand barrels per day, and from Nigeria at a rate of 144 thousand barrels per day.” 05/26/2024 - https://economy-news.net/content.php?id=43733

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

To make money, buy some good stock, hold it until it goes up, and then sell it. If it doesn't go up, don't buy it.-Will Rogers

What some people mistake for the high cost of living is really the cost of living high.-Doug Larson

The wretchedness of being rich is that you live with rich people.-Logan Pearsall Smith

Definition of the upper crust: A bunch of crumbs held together by dough.-Anonymous

Money can't buy happiness, but it will certainly get you a better class of memories.-Ronald Reagan

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Currency Insider Video Update Sunday Afternoon 5-26-24

Iraqi Dinar Shocking It’s Big News Update – 2:30

Vietnam Dong It’s Massive Change – 2:16

Iraqi Dinar Rate Update It’s Higher – 2:26

Iraqi Dinar Shocking It’s Big News Update – 2:30

https://www.youtube.com/watch?v=1NZGH_t649o

Vietnam Dong It’s Massive Change – 2:16

https://www.youtube.com/watch?v=hfEajO1AX20

Iraqi Dinar Rate Update It’s Higher – 2:26

https://www.youtube.com/watch?v=9xer1VHMzQ0

Goldilocks' Comments and Global Economic News Sunday Afternoon 5-26-24

Good Evening Dinar Recaps,

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"SEC approval of Ether ETFs acknowledges Ether is a commodity" LedgerInsights FederalRegister

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Bitcoin Poised For New All-Time High Amid Strong ETF Inflows »The Merkle News

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Tishwash: Al-Haims announces joint cooperation to list government bonds on the Iraq Stock Exchange

Today, Sunday, Chairman of the Securities Commission, Faisal Al-Haims, announced joint cooperation with the Central Bank and the Ministry of Finance to list government bonds on the Iraq Stock Exchange.

Al-Haimas told the Iraqi News Agency (INA): “The authority is independent and affiliated with the Council of Ministers. Its work is to monitor the trading of bank shares to complete their requirements and list them in the Iraq Stock Exchange, by submitting financial statements according to the required timelines.”

He pointed out, "There has been great cooperation during the recent period with the Central Bank and the Ministry of Finance to list government bonds in the Iraq Stock Exchange link

CandyKisses: Parliamentary Finance hosts Finance and Planning Ministers to discuss budget

Information / Baghdad..

Member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Sunday, that the committee will soon begin discussing the budget schedules with the Ministers of Finance and Planning, while noting that voting on the schedules will take place after preparing the final report on them.

Koger told Al-Maalouma, "The Parliamentary Finance Committee is preparing to host the Ministers of Finance and Planning to discuss the 2024 budget schedules before voting on them."

He added, "The advisors in the Parliamentary Finance Committee will present a detailed report on the differences between the 2023 budget schedules and the 2024 budget, and we will have two sessions in which the Ministers of Finance and Planning will be hosted."

He pointed out that "the Finance Committee will study the schedules in detail and then prepare a comprehensive report to be presented in a general parliamentary session to approve the schedules."

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TishWash: Why Iraq wants the UN's political mission to wind down

Analysis: The call to wrap up the UN Assistance Mission for Iraq is part of Baghdad's efforts to change the country's international image.

Iraq increasingly wants to forge a new path that emphasises it is a normal member of the international community and can stand on its own feet. This requires that it shed the institutional hallmarks of thepost-2003 period.

As part of that, Baghdad wants toend the mandateof the UN Assistance Mission for Iraq (UNAMI), which has provided the country with political, electoral, and development support for the last two decades.

In a letter to UN Secretary-General António Guterres dated April, butmade publicon 12 May, Iraqi Prime Minister Mohammed Shia al-Sudani noted UNAMI’s positive contributions, but asserted that “after [twenty] years of democratic transition and overcoming great and varied challenges, the grounds for having a political mission in Iraq are no longer available”.

The letter said that Iraq is calling to “permanently” end UNAMI’s mandate on31 December 2025, adding that the mission’s efforts should be “limited to completing its work (only) on the files of economic reform, service provision, sustainable development, climate change, and other development sectors” from now on.

What this leaves out is UNAMI’s critical political functions. The mission provides what is known in international relations as “good offices,” where a third country or a neutral institution offers a platform for bringing parties together to resolve disagreements.

UNAMI does this in a variety of ways, including helping to broker deals between Baghdad and Erbil, offering mediationbetween Kurdish parties, and facilitating dispute resolution between Iraq and neighbouring countries, most notably Kuwait.

The mission’s political mandate also includes a requirement that itreportto the Security Council about developments in Iraq. The most recent suchbriefingtook place on 16 May.

In light of Iraq’s demands, the question arises: what is the point of a political mission like UNAMI if it is unable to carry out a political role?

"Baghdad wants to show that this is not the same Iraq that had a civil war, insurgencies, or all of these sort of conflicts that have represented the country for the last few years"

Changing Iraq's image

The call to wrap up UNAMI’s mission is part of a larger effort by Baghdad to change Iraq’s image and steer it into an era focused on ordinary, bilateral relations with other countries and international institutions.

Renad Mansour, director of the Iraq Initiative at Chatham House, toldThe New Arabthat “the veneer of sovereignty” is important to the government of Iraqi Prime Minister Mohammed Shia al-Sudani.

Mansour said that Baghdad wants to show that “this is not the same Iraq that had a civil war, insurgencies, or all of these sort of conflicts that have represented the country for the last few years, but that this is a new chapter”.

This is also why Sudani’s government hopes to renegotiate thepresence of international troopsthat are in Iraq as part of the anti-Islamic State (IS) coalition.

In March, the results of the strategic review werereleased. Although it largely praised UNAMI’s work, it advised that the mission’s current mandate, including its political role, be extended for just two years before being concluded on 31 May 2026.

Sudani’s April letter was a response to the strategic review’s activities and conclusions. It objected to the fact that Perthes met with officials and figures outside of the Government of Iraq, including party officials, members of the Kurdistan Regional Government (KRG), and civil society, and demanded a shorter timeline for closing down UNAMI and that its activities be restricted to non-political functions.

Mansour noted that there is a “big debate about UNAMI’s role” and that not everyone agrees with the government in Baghdad that the mission’s political activities are no longer needed.

Baghdad’s desire “to end the mission like this was a bit unexpected, because it basically killed everything,” a Kurdish foreign policy official speaking on background toldThe New Arab, saying that they had anticipated that the mission would conclude eventually.

“UNAMI’s good offices were always very helpful in facilitating dialogue,” they said. “Losing that channel, it's not helpful, to say the least.”

The end of UNAMI’s mandate will not mean that Iraq completely ends UN activities in the country.

As the April letter noted, Baghdad wants “to raise the level of cooperation with the United Nations and its specialised agencies,” including UNDP specifically, to “overcome economic, climate, and environmental challenges that face Iraq and the region”.

"This is a symbolic effort from the government to present the country as a sovereign state that does not need a UN mission, that it does not need the UN Security Council having a briefing every quarter"

Therefore, it is clear that the purpose of ending UNAMI’s mandate is largely for political reasons, rather than practical ones.

“This is a symbolic effort from the government to present the country as a sovereign state that does not need a UN mission, that it does not need the UN Security Council having a briefing every quarter,” Mansour said.

Some members of the international community have expressed trepidation about ending the mission, albeit in diplomatic language.

“The US has strongly supported the mission’s work,” Vedant Patel, a State Department spokesperson, told a press conference on 13 May. “We are working with the Government of Iraq and fellow Security Council members to ensure an orderly and responsible wind-down that meets…the needs of the Iraqi people.”

The US is a particularly important actor because it is thepenholderforIraq issueson the Security Council, which means that it leads negotiations and drafting resolutions. This will be important in the coming weeks.

Next steps

There are several possible scenarios in terms of how the mandate renewal process could play out in New York when the Security Council meets to discuss the issue at the end of May. Ultimately, the mission’s fate is dependent on these negotiations.

The Security Council could accept Iraq’s demands as expressed in Sudani’s letter and issue a mandate that ends on 31 December 2025 and does not include authorisation for continuing UNAMI’s political role.

Alternatively, it could establish a new mandate negotiated with Iraq that outlines a new set of core functions. It could also temporarily roll over the current mandate for a period of three or six months to give itself time to decide what to do next.

Less likely scenarios include the Security Council rejecting Iraq’s demands outright and continuing the mandate as it stands. At theSecurity Council briefingon 17 May, however, most country representatives recognised that UNAMI’s presence should end, even those who expressed support for its work.

“Now is the time to transition to a new partnership between Iraq and the United Nations,” the UK’s representativesaid, while Switzerland emphasised that the transition be “responsible, orderly, and gradual”.

However, others strongly backed Iraq’s demands. For example, Russia’s representative told the meeting that Iraq’s continuing challenges “should not be used as an excuse for the Mission’s endless presence there”.

Baghdad could also change its mind and request the current mandate remain in place. This situation occurred earlier this month when Somaliaappeared to step backfrom a demand toquickly terminatethe UNSOM mission. However, this would cut across Iraq’s apparent motivations and is a far-fetched scenario.

Twenty-one years after the removal of Saddam Hussein and a decade on from theIS emergency, Iraq is not without major challenges. It is clear, however, that the UN’s political role in helping Iraq navigate those treacherous waters will soon end.

Only time will tell whether this will leave the country without a useful tool for ensuring stability and progress.

Winthrop Rodgers is a journalist and analyst based in Sulaymaniyah in Iraq's Kurdistan Region. He focuses on politics, human rights, and political economy. link

Iraq Economic News and Points To Ponder Late Saturday Evening 5-25-24

The Government Sees Clear Indicators: The Parallel Dollar Will Be Equal To The Official One

Economy | Yesterday, 23:41 | Baghdad today – Baghdad Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that

the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.

Saleh said in a press statement followed by “Baghdad Today” that

“the price of the dollar will be 1320 dinars in the coming days,” noting that

“the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Capabilities of operating banks to comply with external transfer rules.

He explained that "the indicators are witnessing a cumulative increase, according to which the percentage of requested and executed requests in foreign currency for the benefit of financing foreign trade for the private sector through official transfer ports has increased, which has increased to more than 85%."

For more than two months, the exchange rates of the dollar against the Iraqi dinar have stabilized around 145 thousand dinars per 100 dollars, after it was between 155 and 160 thousand dinars per 100 dollars, while the decline in the exchange rate coincided with an increase in the amount of the Central Bank’s sales of dollars.

https://baghdadtoday.news/250170-الحكومة-تلمس-مؤشرات-واضحة-الدولار-الموازي-سيتساوى-مع-الرسمي.html

Launching The Activities Of The National Bank Lending Strategy 2024-2029

May 25, 2024 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, launched the National Bank Lending Strategy in Iraq 2024-2029, in the presence of a number of officials and representatives of diplomatic missions and organizations in Iraq, in cooperation with the German Agency for International Cooperation (GIZ).

His Excellency the Governor said in a speech he delivered during the celebration:

The lending strategy started from the pivotal role of the banking sector in the financial system, by acting as an intermediary between depositors and borrowers, and

through it is achieved to support economic growth, strengthen the business sector and help individuals achieve their needs and ambitions, indicating that bank lending It is the cornerstone of economic activity, driving growth and achieving well-being.

His Excellency added that there is an urgent need today to stimulate and diversify the Iraqi economy, stressing that the Central Bank of Iraq’s housing lending initiatives that it launched through the Real Estate Bank and the Iraqi Housing Fund have reached about (11) trillion dinars.

His Excellency stressed the need to expand the base of financial inclusion in Iraqi society, especially the expansion of the activities of small and medium enterprises, which are the backbone of the economy,

pointing out that employing the workforce is a matter of interest and focus for the Central Bank and the continuation of its initiatives for small and medium enterprises, which will culminate in the launch of Riyada Bank, supported by By the Central Bank of Iraq and with the contribution of private banks.

He believed that developing and implementing the national lending strategy for the years 2024-2029 requires cooperation between a wide number of relevant parties and a shared interest, to achieve the desired goal. Central Bank of Iraq information Office May 25, 2024 https://cbi.iq/news/view/2589

Report: Arab Banks Expand In Iraq Because Of Washington!

Economy | 25/05/2024 Mawazine News - Follow up Al-Arabi Al-Jadeed newspaper published a report in which it talked about the expansion of the work of Arab banks in Iraq, while indicating an increase in investments in the country as a result of US sanctions on Iran.

Report text: Major Arab banks have expanded their presence in the Iraqi banking sector over the past months, through their cash investments and direct dealings with private Iraqi banks, amid efforts to enhance the financial and cash balances of Iraqi banks and attract foreign capital.

Iraqi banks are facing major challenges against the backdrop of sanctions imposed by the US Treasury Department on 24 banks, banning their cash transactions in dollars, to limit currency waste and suspicious transfers.

This ban affected banking services inside Iraq, which prompted the Central Bank of Iraq to issue its latest instructions to return to Law No. 4 of 2010, which stipulated the approval of one or more qualified shares for joint-stock banks, on the condition that this joint-stock bank be monitored by the central bank in its home country.

Which contributed to opening the way for Arab and foreign banks to open their financial credits and cash investments with a number of Iraqi private banks.

The volume of external transfers to Iraqi banks and banks, directly or through correspondent and joint-stock banks, amounted to approximately 265 million dollars per day, by purchasing the dollar through the currency selling window at the official price of 1,310 dinars per dollar, while no official statistics were issued on the size of the cash masses that were pumped to buy. Shares in Iraqi banks.

In details, the Central Bank of Iraq recently granted four new licenses to Jordanian banks, namely the Union, Housing, Jordan, and Arab Banks, and they were preceded by other licenses to Arab and foreign banks according to investment ratios contributing to the Iraqi private banking sector.

A local newspaper published that the share of Arab banks in the National Bank of Iraq amounted to 76.7 percent of the bank’s shares, while the share of the Jordanian Capital Bank reached 61.85 percent, the share of Cairo Amman Bank reached 9.90 percent, while the share of the Palestinian Arcadia Investment Fund reached 5 percent.

This comes amid the efforts of the Jordanian Housing Bank to buy a stake in the Iraqi Al-Mansour Bank, to which Qatar National Bank contributed 54 percent. Earlier, the Jordan Kuwait Bank announced the signing of the agreement to purchase a 51.79 percent stake in the Bank of Baghdad’s shares.

Acquisition opportunities

Financial and banking expert, Abdul Rahman Al-Sheikhli, said that there are no specific numbers about the volume of Arab and foreign investments in Iraqi banks, but the Central Bank of Iraq has given foreign and Arab banks opportunities to acquire large shares in Iraqi banks at a rate of more than 50 percent.

Speaking to Al-Araby Al-Jadeed, Al-Sheikhli stated that the goal of the Central Bank of Iraq in granting contributions at high rates is to try to bring non-Iraqi capital to the sector.

He added that Arab countries' investment in Iraqi banks is large, amid contributions from Jordanian, Kuwaiti, Qatari and Emirati capital.

He pointed out that the Central Bank of Iraq's invitation to foreign banking investments came due to the migration of Iraqi capital abroad and the smuggling operations resulting from the financial and administrative corruption that has spread throughout the entity of government institutions.

He added that the lack of cash liquidity in banks is due to the loss of citizen confidence in the Iraqi banking system, specifically private banks, which prompted the necessity of bringing in foreign investments.

New investments support Iraqi oil

Al-Sheikhli explained that Iraq today is witnessing relative stability in the political, security and economic system, and the investment environment has become safe and attractive for investment, especially after the emergence of real projects in the country, whether governmental or within the private sector.

Al-Sheikhli stressed the importance of using foreign investments, which will contribute to creating additional resources away from the oil that Iraq has relied on over the past years.

The US sanctions imposed on private Iraqi banks and the restriction of dealing in foreign currencies gave the opportunity to foreign and Arab banks that hold accounts with international and American banks to contribute to the market share in Iraq in a very large proportion.

Financial expert, Safwan Qusay, said that reconsidering restricting the movement of these Iraqi banks would prevent the monopoly of foreign banks operating in Iraq, which hold large accounts and credits with Iraqi banks at a rate exceeding 49 percent of the capital.

During his conversation with Al-Araby Al-Jadeed, Qusay stressed the necessity of protecting the financial system and providing an integrated banking system that relies on reviewing the policies of the Central Bank of Iraq by preventing monopoly operations on the sale of foreign currencies, including the dollar.

Qusay stressed the importance of lifting the sanctions and restriction system and replacing it with the correction system, and guiding the restricted banks to enhance their ability to comply, meet the needs of customers, know the movement of the Iraqi dinar, and invest in technology.

He pointed out the need to review the mechanism for obtaining the dollar and the share of foreign banks from it. https://www.mawazin.net/Details.aspx?jimare=248623

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

I haven't heard of anybody who wants to stop living on account of the cost.-Kin Hubbard

It isn't enough for you to love money - it's also necessary that money should love you.-Baron Rothschild

Philanthropist: a rich (and usually bald) old gentleman who has trained himself to grin while his conscience is picking his pocket.-Ambrose Bierce

The darkest hour of any man's life is when he sits down to plan how to get money without earning it.-Horace Greeley

The petty economies of the rich are just as amazing as the silly extravagances of the poor.-William Feather

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Saturday Evening 5-25-24

Good Evening Dinar Recaps,

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UK Approves First Physically Backed Bitcoin and Ethereum ETPs for Listing on London Stock Exchange –Bitcoin News

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Swap Connect: new tools, enhanced products and more solutions |HKEX Group

👆 Hong Kong is ready to transition folks.

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RIPPLE XRP HOLDERS THIS IS HOW XRP BECOMES BIGGER THAN BITCOIN |Youtube

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UBS distributes first fund issued on iCapital's DLT infrastructure -Ledger Insights

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Hong Kong is one of the few open market economies that we have. Vietnam is about to become one in July.

There will be many more, and the changes in currency rates will be determined by these changes.

© Goldilocks

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This is CRITICAL |Youtube

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CandyKisses: Taif Sami in the House of Representatives next week

CandyKisses: Ending the UNAMI Mission Marks a Step for Iraq Regaining Full Sovereignty

Farhad Alaaldin-The Iraqi Prime Minister's Advisor for Foreign Affairs

Saturday - 25 May 2024

In a formal letter, dated 8 May 2024 and addressed to the United Nations Secretary-General, Antonio Guterres, Iraqi Prime Minister Mohammad Shia al-Sudani called for “ending the mandate of the United Nation’s Assistance Mission in Iraq (UNAMI) on 31 December 2025", emphasizing that "after more than 20 years of democratic transition and overcoming great and diverse challenges, the justifications for a political mission in Iraq are no longer present".

This letter was delivered in time, by the Iraqi Charge d'Affaires at the United Nations, before the Security Council (SC)’s scheduled meeting on 30 May 2024, to vote on UNAMI's fate. Iraq is not a member of the Council, however, it will be difficult for the existing SC members to ignore the wishes of an elected Government of Iraq.

The strategic review

In May 2023, Iraq made a formal request to the SC to reduce the UNAMI mandate. In response, the Council set up a three-man committee, headed by Volker Perthes of Germany, to carry out a “Strategic Review” of UNAMI's mandate, based on the SC resolution 2682 (2023). The committee visited Iraq in Nov 2023 and conducted 250 interviews with various stakeholders, including the Federal Government, the Kurdistan Regional Government, political parties, civil society organizations, think tanks and the UNAMI staff all over Iraq. They also reviewed the papers and work of UNAMI both in Iraq and New York, before submitting their report to the Secretary General in Feb 2024.

The ‘Perthes’ report unequivocally acknowledged the progress made in Iraq, and that: "the Iraqi political system has, at least over the past eighteen months, increasingly demonstrated its ability to manage crises". It further adds "no UN political mission should stay in a country forever. Prolonged third-party presence may discourage local solutions and national ownership". Perthes therefore recommend that “the Mission begin to transfer its functions to national institutions and the United Nations country team in a responsible, orderly and progressive manner within an agreed time frame."

Thus, both the Iraqi Government and Perthes’ Strategic Review agree on ending the mission, with a slight variation in the timing and process, as the Iraqis want to end the mission by Dec 2025 with an immediate winding down and switching the focus away from the political file, to "economic reform, service provision, sustainable development, and climate change”. Perthes’ report, however, recommends ending the mission by June 2026 while keeping the political files with a gradual weaning process.

Iraq facing its own challenges

This year will see the end of three significant missions in Iraq that were all set up under various Security Council Resolutions, namely the UNITAD, the UNAMI and the International Coalition to fight ISIS. As a result, Iraq will be a step closer to taking full responsibility for its destiny as a confident and fully sovereign state. Critics might see the ending of these missions, all in one go, leading to Iraq’s isolation. However, the Iraq of 2024 is not the same Iraq of 2003 when the regime collapsed, or the Iraq of 2014 when ISIS ripped through the country and took over one-third of it. Today’s Iraq is more stable, confident and forward looking.

Iraq is now seeking to confront its own challenges directly, but with international cooperation. Many of the key challenges have persisted for over two decades when the UNAMI was operational in the country. Clearly the issues are complex but experience shows that solutions come primarily from within, as acknowledged and encouraged by the Strategic Review Report. The report emphasized that "ownership of these issues is now in the hands of Iraqi institutions. They have the capability to advocate for peace and stability within the country and with external actors." Indeed, such capability was vividly illustrated in Kirkuk, where the Prime Minister presided over the meetings of the various political parties to hold Kirkuk provincial elections, which have not taken place since 2005. Another example is the border security agreement signed with Iran, and the Strategic Cooperation Agreement signed with Türkiye to deal with the most difficult challenges relating to both Water and Security.

Thank you UNAMI

The Iraqi Government deeply appreciates the UNAMI and other UN agencies' positive roles in Iraq over the past two decades. In a statement issued on May 12, the Iraqi Government expressed "gratitude to UN Secretary-General Mr. Antonio Guterres, the Special Representative of the UN Secretary-General in Iraq, Ms. Jeanine Hennis-Plasschaert, and all UNAMI staff for their support over the past years." Undoubtedly, Ms. Hennis-Plasschaert’s dynamic and energetic engagement and significant contributions to Iraq have been instrumental and widely acknowledged.

However, many critics within Iraq often highlight the failure of UNAMI to execute some of its mandates over the past two decades, despite ample national and international support. Some go as far as accusing the UNAMI of systematically ignoring the shortcomings of Iraq’s political system, the widespread election fraud and human rights abuses that the Iraqi government itself had recognized. It was during the UNAMI’s presence that Al-Qaeda flourished, ISIS invaded the country, violence erupted in the aftermath of the Kurdish Referendum of independence and Iraq suffered the worst political deadlock after the 2021 election which led to the withdrawal of the Sadrist Movement from the political process. Other outstanding processes that fall within the UNAMI’s mandate that remain unaccomplished, include the Kuwaiti’s missing persons and national archives in Iraq, the implementation of the Sinjar agreement and the failure of Kurdistan Region to hold general elections for two years.

That said, the Iraqi Prime Minister firmly believes that these ongoing issues can only be resolved through national efforts, by bringing together Iraq’s political leaders to hammer out practical solutions. This is exactly what recently led to breakthroughs in Baghdad – Erbil cooperation, and the holding of Iraq’s first and most peaceful provincial elections since 2013.

Furthermore, Iraq is going to ask for UN help in some of the files, such as elections, Iraq would seek UN help with a team of experts to provide technical support as they have done in the past, however, such help would be temporary and only for the duration of the election process. Another example would be the continuation of the tri-partite process of the Kuwait file, where the Iraqi government will work diligently to conclude this file with the help of the International Red Cross and technical support of the UN if needed.

The future

PM Al-Sudani has frequently asserted that “the guiding principle” of his foreign policy is "Iraq first", via building strong partnerships based on common interests with friendly countries in the region and beyond. Iraq will work with all its international partners to forge bilateral alliances that help its security and stability, and will open up to business and economic partnerships. Signing the Development Road agreement with Türkiye, Qatar, and the United Arab Emirates is a good example of using economic opportunities as launching pads for future regional cooperation.

The Iraqi government is working hard on addressing the three areas of concern that is highlighted in Perthes’ Strategic Review, where he concludes that “the stability of Iraq today is fundamentally threatened by three phenomena: (a) the fragility of institutions; (b) the proliferation of armed actors; and (c) the potential for the emergence of a new ISIS or other forms of terrorism and violent extremism.”

Significant strides have been achieved in bolstering the institutions, fighting corruption and depoliticizing the institutional leadership positions. On the proliferation of armed actors, the Prime Minister made it clear that “these groups grew out of the complex circ*mstances that Iraq encountered while confronting terrorism. But little by little, as security and stability are restored, the need for weapons outside the control of the state and its institutions will disappear. We are working concertedly toward that end”. As for terrorism and violent extremism, the Iraqi government believes that ISIS is now defeated and no longer poses a threat to the state of Iraq. Its comeback is rendered even more difficult by the enhanced capability of Iraqi security forces, the new stability that Iraq enjoys, and the economic boom which no part of Iraq is feeling left out.

Iraq is now poised to play the pivotal role it is destined to play in the region, and regaining its sovereignty is the first step. Ending international missions such as UNAMI will strengthen Iraq further by relying on its own institutional capacities to tackle the various challenges it continues to face.

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CandyKisses: Iraq announces investments amounting to about $1.5 billion

Economy News - Baghdad

Today, Friday, the Iraq Fund for Development outlined three achievements it has achieved since its founding, while announcing investments amounting to about $1.5 billion.

The Executive Director of the Iraq Fund for Development, Advisor to the Prime Minister for Investment Affairs, Muhammad al-Najjar, said, “Since its establishment less than a year ago, the Fund has achieved three achievements, the first of which is: signing 17 memorandums of understanding with 17 different companies (Saudi, British, and American) to enter into... Iraq".

Al-Najjar added, "The value of the total investments achieved by these memorandums approached one and a half billion dollars," pointing out that "these imports for the first time enter Iraq, not in the field of energy, but in the field of industry, agriculture, and gas production, that is, industrial gases."

He pointed out that "the second achievement was the launch of the investment schools project, and applications were submitted to build 2,000 schools through investment, and the state rents them from investors, which saves huge sums of money, since for the price of 100 schools we can build 1,000 schools in a much shorter period of time than was thought." That is, school crises will be resolved as quickly as possible.”

He continued: “As for the third achievement, it represented the launch of social projects for the first time, such as building schools and so on, implemented through the private sector, and for the first time we can attract the private sector to this number and this number of investments related to the state, which is considered a fundamental change that the government and the Fund have succeeded in establishing.” For him, under the government of Prime Minister Muhammad Shia al-Sudani.”

He pointed out that "there is an international desire to enter the fund, but our tendency is for participation to be through companies investing in Iraq, and not directly in the fund, because the fund has the peculiarity of being financed from the general budget and subject to the laws of the Iraqi state."

He stated that "funds and companies often prefer to operate under the laws of the private sector, so we have attracted investments for companies," stressing that "the amount of investments that entered compared to the fund's capital is very large."

He concluded by saying: "We are currently working according to the rule that for every dinar we attract ten dinars, meaning that if a trillion is allocated, we try to set investment rates worth ten trillion dinars in return."

Iraq Dinar-IQD Enhanced Value to Currency-Gold-Reserves-2024 Budget-HoR Vote-WTO Accession

MilitiaMan and Crew: 5-24-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=35pj0RkYnww

Iraq Economic News and Points To Ponder Late Friday Evening 5-24-24

The Dollar Is Leaking”... Central Bank Sales In Numbers And An Expert Raises Several Questions

Time: 05/24/2024 Read: 2,054 times {Economic: Al-Furat News} An economic expert raised several questions regarding the Central Bank of Iraq’s dollar sales and their comparison with previous years.

Manar Al-Obaidi said in a statement, a copy of which was received by {Al-Furat News}, “By reviewing the Central Bank’s sales of the dollar, both cash and remittances, it is noted that the bank’s sales of foreign currency cash to the local market were not greatly affected in 2023, which is the year in which the crisis of American restrictions on dollar sales began.” ".

He added, "According to Central Bank data on foreign currency sales to local markets, the value of dollar cash sales in 2023, the year of the dollar crisis, amounted to 8.4 billion US dollars, noting that the average foreign currency sales of the dollar from 2006 until 2022 amounted to 6.1 billion dollars."

He pointed out that “the Central Bank’s sales of cash are higher than the average sales of the Central Bank over all the past years, and the ratio of cash sales to total foreign currency sales in 2023 was 25%, while the average ratio of cash sales to total foreign currency sales was over Extension of years (2006-2022) 18.7%.

Al-Obaidi stated, “What actually decreased and was affected were the Central Bank’s sales of dollars through the remittance window, as the value of the Central Bank’s sales through the remittance window for the past year amounted to 25 billion dollars, while the average foreign exchange sales of dollars from 2006 until 2022 was 31 billion US dollars and amounted to The highest value of the Central Bank’s sales from the remittance window in 2019, amounting to 45 billion dollars.”

He explained, "From these numbers, it is clear that what affects the exchange rate in the local market is the decrease or increase in the Central Bank's sales of foreign currency through the remittance window, and not cash sales, which were not greatly affected over the previous years."

The economic expert pointed out, “Based on these numbers, two questions arise. The first is: If the majority of the Central Bank’s sales of foreign currency over the years from 2006 to 2023 were through the remittance window, at a rate of 84% of the Central Bank’s total sales, then what is the source of foreign currency?”

Which was available in the local markets? Why was the parallel exchange rate affected by the remittance sales window if the demand was to cover the internal need, given that the remittance window sales deliver hard currency outside Iraq?

He said, "The sales of the Central Bank through the cash window from 2006 until 2023 amounted to more than 113 billion US dollars, and where was this mass of hard currency consumed? Was it all consumed outside Iraq to cover the travel expenses of Iraqis? Or was it done to cover specific types of merchants that were not Can you enter the external transfer window, or was it used for other purposes?

Al-Obaidi continued, "These data and questions require a deep analysis to know what the foreign currency cycle is in Iraq and who is responsible for the continued demand for it in the local market despite the high remittance window. Does Iraq really need cash sales of the dollar amounting to $9 billion annually, and what are the reasons for this demand? Is it really to cover foreign trade with countries that are prohibited from dealing with?

The Central Bank's management plans to gradually cancel the dollar auction during the year 2024, leading to its complete cancellation by the end of the year, and to maintain it for audit and statistical purposes, in an effort to enable Iraqi banks to establish and establish solid banking relationships with the global and regional banking sector in order to achieve the sobriety of the Iraqi banking sector and full commitment. According to international standards and requirements.

Iraq relies on the platform for selling currency directly to local banks and companies, which was previously known as the daily dollar auction, as one of the mechanisms for preserving the value of the Iraqi dinar and combating speculative operations in the parallel market. LINK

The Government Reveals The New Formula For Dealing With The United Nations: UNAMI's Work Will End Politically

Political | 05/24/2024 Today, Friday, government spokesman Bassem Al-Awadi revealed the new formula for dealing with the United Nations, stressing that the work of the UNAMI mission will end on the political side.

Al-Awadi said in a statement, “The UNAMI mission was formed in the eighth month of 2003, after the overthrow of the former regime, the presence of the international coalition, and the absence of a government, but rather a governing council carrying out its new work in Iraq,” indicating that “the idea is for the United Nations to send a group of Experts to provide advice in the areas of political, transitional justice, social reconciliation, etc., in order to help the Iraqi government and provide advice, consultations and opinions, and they are considered as advisors to the government.”

He added, "Dossiers have been identified for these experts, most notably supporting the government politically, especially with the formation of the government, elections, the relationship with the Kurdistan region, the Kirkuk issue, the conflict of the components, the formation of parliament, support for the judicial and legal framework, independent bodies and civil society organizations, in addition to providing advice and assistance regarding border disputes, whether with Iran."

Or Turkey, Saudi Arabia, Kuwait, or Jordan," and the work continued because the conditions in Iraq at the time required such assistance.

He continued, "The mission worked in Iraq and provided great services to the Iraqi people, and tried to push towards the stability of the political process, and submitted important reports to the United Nations. ”

On the basis of which important decisions were issued to support successive Iraqi governments, the political process, and the Iraqi people,” he explained, explaining that “the Iraqi government and people remember these great services, and they will remain immortal in Iraqi memory, and we will not forget the painful incident, which was the first explosion to which the United Nations building was exposed at that time.”

And the departure of the head of the UNAMI mission in Iraq, Sergio de Mello, along with 30 members of the mission.

He stated that “Prime Minister Muhammad Shiaa Al-Sudani thanked all the figures who received UNAMI up to Jenin-Plasschaert on behalf of the government and the Iraqi people,” explaining that “this case has been going on for 21 years.”

Therefore, if we say that the previous post-2003 Iraqi governments needed some assistance, then the Iraqi government in recent years has become mature and political experience has accumulated, and Iraqi institutions are moving towards specialization, professionalism and exercising full roles, and we have active figures and senior political experts.”

He pointed out that "the state has developed and stabilized during the last two years, as the government manages internal and external political affairs entirely through official institutions. As an example, the parties in Kirkuk Governorate are now asking the Prime Minister to be the guarantor in the process of selecting the governor," in arranging affairs. This file.

He continued, "The security agreement that was concluded with Iran dealt with important aspects. The Iraqi government was the one who concluded it, in addition to developing relations with Turkey, the latest of which was President Erdogan's recent visit to Iraq," pointing out that "the process of forming the government was managed by the Iraqi parties themselves without the need for assistance."

“And developing the relationship with the Kurdistan region, which is carried out through the leadership of Erbil and Sulaymaniyah with the head of government in Baghdad, represented by the Prime Minister.”

He stated that "what is related to the political aspect is that it has become a state of stability, and countries are dealing directly with the Iraqi government," pointing out that "all political forces believe that we have reached a stage of political maturity in which we can give thanks to the UNAMI mission, the United Nations, and the ability of the Iraqis to manage files." politics themselves.

He stressed that "the United Nations Mission (UNAMI) has two tasks in Iraq. The first is the political work that was mentioned, and the second has non-political work, which is providing support in the elections, in the human rights file, in development issues, consultations, and other aspects," adding, "We do not want to dispense with it." About services and relations with the United Nations, but we want to focus on the political aspect and end the mission.”

He pointed out that "Iraq will request the support of the United Nations in the files of human rights, elections, development, and everything in which we need an international role later."

Regarding the human rights file, Al-Awadi stressed, "We need the United Nations to be present and to help with this, and in the climate and environment file."

And other files, but in a new format that includes not having a permanent presence inside Iraq, but it is possible to form committees for a certain period that will come to Iraq and participate in this file and then after that their work will end, without the need for a committee present in Iraq to submit an annual report to the United Nations

. Until “the Iraqi government’s proposal is for UNAMI to remain until after the next parliamentary elections, because the government requested that the last period of the mission’s presence be December 31, 2025, and that the next parliamentary elections are in the month of November, and thus the mission will be present in the elections in accordance with the request.”

The Iraqi government,” explaining that “if the mission is forced to be dissolved before this date, the Iraqi government will be the one that will submit a request to the United Nations to form a specialized committee for elections that will come to assist the Independent High Electoral Commission and supervise, monitor, and then certify the results of the parliamentary elections, as this is necessary for the political process and the government.” ".

He pointed out that “the United Nations’ ratification of the election results is international legitimacy,” pointing out that “Iraqi governments have always enjoyed international legitimacy in every election, most notably the government of Muhammad Shiaa al-Sudani, which enjoyed great popular and international acceptance and support.”

He stressed, "We are keen to have an international committee that helps, monitors and works jointly with the Supreme Independent Election Commission." https://www.mawazin.net/Details.aspx?jimare=248572

An International Group Considers Iraq To Be One Of The Countries Committed To Combating Money Laundering And Terrorist Financing

The Middle East and North Africa Financial Action Task Force (MENAFATF) decided, in its general meeting held in the Kingdom of Bahrain for the period from 19-23 May this year, to consider Iraq as one of the countries highly committed to the recommendations of the Financial Action Task Force in the field of combating money laundering and the financing of terrorism.

The media center of the Supreme Judicial Council explained in a statement, “The residents’ report on Iraq and the adequacy of the procedures followed by the Iraqi authorities in the field of combating money laundering and terrorist financing was accepted, and this means it will continue to not be included on the gray list, which is the list of high-risk countries in the field of combating money laundering.”

And terrorist financing, after the Iraqi team succeeded in convincing the general meeting of the MENA FATF organization of the adequacy of the measures taken by it in this field.”

It is noteworthy that Judges Ali Hussein Jafat and Dhia Jaafar, deputies of the Karkh Court of Appeal, and Judge Iyad Mohsen, vice president of the Rusafa Court of Appeal, participated in the meeting with a group of representatives of the Anti-Money Laundering Office at the Central Bank of Iraq, as well as representatives of the rest of the relevant Iraqi institutions.

https://www.radionawa.com/all-detail.aspx?jimare=38332

To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Money

Money is the poor people's credit card.-Marshall McLuhan

A man is rich in proportion to the things he can afford to let alone.-Henry David Thoreau

Money is like a sixth sense, and you can't make use of the other five without it.-W. Somerset Maugham

Money swore an oath that nobody who did not love it should ever have it.-Irish proverb

I'm so happy to be rich, I'm willing to take all the consequences.-Howard Ahmanson

http://www.famousquotesandauthors.com/topics/money_quotes.html

http://www.famousquotesandauthors.com/

Goldilocks' Comments and Global Economic News Friday Afternoon 5-24-24

Good Evening Dinar Recaps,

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House Passes CBDC Anti-Surveillance State Act |Financial Services Committee

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The Middle East and North Africa Financial Action Task Force (MENAFATF), at its general meeting, held in the Kingdom of Bahrain for the period from 19-23 May 2024, approved the mutual assessment report for the Republic of Iraq, which reflects its great commitment to applying international standards to combat money laundering and the financing of terrorism. |CBI

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© Goldilocks

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Russia signs decree allowing seizure of US assets in Russia |Jurist

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Ether ETFs Clear Major Hurdle, Though SEC Hasn't Cleared Them for Trading Yet |Coindesk

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Elon Musk predicts AI will take everybody's jobs |9News

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Digitalization of trade and maritime transport accelerates thanks to UNECE tools |UNECE

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Third Conference on the International Role of the U.S. Dollar: Welcoming Remarks by Governor |Youtube

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Iran's Supreme Leaders Promise to Iraq IQD Rate |Youtube

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CSI Partners with TruStage%2 Compliance |Valdosta Daily Times

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👆 Banking Systems are moving to digital. Several of them are beginning to make announcements. You may be getting a notice yourself soon.

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SEC approves rule change to allow creation of ether ETFs |CNBC

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Bitcoin and Ethereum are both considered a commodity. More on this tomorrow with Ethereum.

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Bionic Eye Gets a New Lease of Life |IEEE Spectrum

Pixium Vision, a company with an innovative retinal implant that tackles vision loss, has been acquired by Science, a bioelectronics startup run by Neuralink's co-founder, Max Hodak. Pixium was in danger of disappearing completely after running out of money last November. Studies suggest that its technology is safe and potentially effective. Science will push to get the technology approved in Europe as quickly as possible.

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World now multipolar! |Youtube

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