CBI has Signed MOU with the Palestinian Monetary Authority
The Governor of Iraqi Central Bank Ali Mohsin issued a statement after signing a memorandum of understanding between Iraq and Palestine at the Iraqi embassy in the Jordanian capital Amman.
The Governor of Iraqi Central Bank Ali Mohsin and the Governor of the Palestinian Monetary Authority Azzam Shawa have agreed on the joint cooperation between both sides in order to support the financial work and development in banking sector in both countries.
The Central Bank of Iraq informed in a statement that the memorandum of understanding has been signed in order to enhance the relationship between Palestine and Iraq for a much better control in the banking and financial institutions.
Read more: http://www.dinarupdates.com/showthread.php?50043-CBI-has-Signed-MOU-with-the-Palestinian-Monetary-Authority
______________________________________________________________
Follow us on twitter @DinarUpdates !!
Dinar Updates – “News Time” w/MadDScout & Facebook Crew!! June 8th – 6:30 pm CST – In the DU Chat Room!!
www.DinarUpdates.com – save as favorite
______________________________________________________________
Barzani hails Kurdistan referendum, plans for good ties with Baghdad
Kurdistan Region President Massoud Barzani has described Wednesday’s meeting with political parties that specified September for the region’s referendum on independence as a historic achievement for the people of Kurdistan.
In a handwritten letter posted on Barzani’s official Facebook page, he said, “The meeting on 7-6-2017 was historic, important and valuable for the people of Kurdistan and the sacrifices of the martyrs”.
“It was great pride for all parties that participated in the meeting and issued a historic decision so that the people of Kurdistan can make the world hear their voices through the referendum,” Barzani said.
He added “We want to have the best relations with Baghdad and neighboring countries”.
“Thanks to God and the Peshmerga and the free masses in Kurdistan and thanks to the parties that have expressed a national and historic position through their sense of responsibility,” he said, hoping the step will become a reason for national unity and harmony among the political parties.
Read more: http://www.dinarupdates.com/showthread.php?50022-Barzani-hails-Kurdistan-referendum-plans-for-good-ties-with-Baghdad
______________________________________________________________
Abadi promised Baghdad governor to implement pressing projects and disbursement of budget
Governor of Baghdad Atwan Atwani on Tuesday that Prime Minister Haider al – Abadi promised the Baghdad government to approve the implementation of pressing projects and speed up regardless of the budget.
A statement by the Office of Atwani received by all of Iraq [where] a copy of it today, that the governor of Baghdad , discussed with Abadi , the most important issues related to the rate of capital and increase financial allocations and speed up the approval of the implementation of the most pressing projects.
And he stressed that ” the prime minister had promised to approve all of what has been put forward to improve the urban reality service and in the capital and the implementation of important projects and pressing in the regions of the parties especially the major sewer and water projects in the most important districts of the province and the delivery of services to its residents.
“It was presented to explain the overall constraints and problems facing the development and construction and service operation in the capital noting that the most prominent of those problems consisted not of financial disciplines exchange to balance this year and the decline in service level significantly in most areas of the capital.
He pointed out that the prime minister called for the allocation of funds for the implementation of the stalled projects reached proportions completed more than 80% as well as increasing financial allocations to the capital of the fact that this year’s budget is insufficient to meet the shortage of projects in addition to the development of regional contracts for staff salaries exchange and finding administrative formula to solve their problem which is done through the allocation of their own project ensures the continuation of their salaries or find a job grades to be appointed. ”
He called regardless of the financial budget for the current year to direct the implementation of the local Baghdad government which contains comprehensive projects to all districts of the province plan pointing to the presence of stressful projects need to spend money as soon as including sewer and water Husseiniya NAHRAWAN and clothing Mahmudiya hand bridge and other in the district projects projects Abu Ghraib and Tarmiya and cities
Read more: http://www.dinarupdates.com/showthread.php?49950-US-backed-offensive-to-retake-Raqqa-Syria-from-ISIS-begins
______________________________________________________________
Iraqi gov’t has to make human rights issue ‘top priority’ – US envoy
US Special Presidential Envoy for the International Coalition to Counter ISIS Brett McGurk urged on Thursday the Iraqi government to make human rights issue a top priority.
As he spoke to the media, McGurk said that the coalition will work with the Iraqi security forces to rescue besieged civilians in Mosul city as well as restoring stability to the city and returning residents to their districts.
Ongoing fighting in Mosul is in its final stages, he noted, adding that ISIS will not be expelled from Iraq easily.
He stated, however, that the US-led coalition coordinated with the Iraqi forces to put pressure on the terrorist group and put an end to it.
ISIS lost 55,000 square kilometers of districts that were under its control, he said, adding that the international community’s duty is to stop terrorists’ inflow to Iraq.
Iraqi forces have been battling to liberate western Mosul from the hands of the extremist group, as part of an overall offensive in the northern city which began last October.
It is estimated that there are a few of ISIS terrorists left in Mosul, the second largest city of Iraq. It is expected that they will desperately defend the last pocket of the city that has been once their main stronghold in Iraq.
______________________________________________________________
Prime Minister Dr. Haider Abadi: Iraqi media partner victories
Prime Minister Dr. Haidar al-Abadi said that the Iraqi media is a partner in the victories, and that his role is important in raising morale and breaking the will of the enemy.
This came during a speech delivered by the presence of a large number of journalists and heads of media institutions and political analysts, during which he reviewed the latest military, security and political developments.
He stressed that three years of victories are the result of the unity of the row and the priority of liberation over the side differences because we are facing a common existential threat that threatens all the components of our people, indicating that our heroic forces of the army, police and popular mobilization and Peshmerga has suffered a major defeat by the terrorist.
Dr. Abadi stressed the need for everyone to reach a firm conviction that the source of our strength is religious, national, religious and ideological diversity and we can not live in one color.
He called on everyone to cooperate in the coming period and block the way to return terrorism and extremism and fight corruption with all force, pointing out that community reconciliation must be achieved among the civilian population in order to reassure all citizens.
The media called for awareness in the defense of the state, saying: It is not a fault to defend our country, but it is a duty, and the right of the other to oppose and criticize without prejudice to the national constants and beliefs and the freedom of others, and must move to the stage of application and respect for law in the street and end armed manifestations and overcome Public money .
______________________________________________________________
BGG [kinda get the feeling that this is never gona happen and eventually they will go to the dollar.] With all the support and conversation with the IMF – WB – UN… that is not the posture they are preparing…everything they are (the above mentioned groups) projecting lately is the image of progress.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
BGG (Dinar Guru) – Mosul is it… I have said all along…I would like to see what the news cycle looks like right after Mosul is done. I had some guy message me “why is Mosul taking so long“? They are dug in – they know they will die and have NOTHING TO LOSE…this may take just a bit..let’s all just take a breath and let this whole thing play out…and then… I also said – I want to get a feel for what the News Cycles look like after – for a week or two…this will be the tale of the tape. …sit back…and let them do their thing…and BTW – it’s not like they haven’t told us in so many ways – what they intend to do. They have – over and over and over and over.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Masrour Barzani: June 7th Historic Day for Kurdistan
The Chancellor for Kurdistan Region Security Council (KRSC) Masrour Barzani stated on Wednesday that June 7, 2017 marks a historic day for the people of Kurdistan in which the date for running the independence referendum was determined.
“Today is a historic day for Kurdistan. The referendum date is set. On September 25, the people of Kurdistan will determine their future,” Barzani wrote on his Twitter account moments ago.
The decision was made today during a meeting of political parties in the Kurdistan Region, chaired by Kurdistan Region President, Masoud Barzani.
The participants to the meeting agreed on running the referendum on independence from Iraq in the Kurdistan Region and the disputed areas on September 25, 2017 and the general and presidential polls on November 6 this year.
Read more: http://www.dinarupdates.com/showthread.php?50004-Will-the-CBI-Try-Dinar-QE
______________________________________________________________
______________________________________________________________
Private banks association denies the dismissal of its president from office
We denied the Association of Banks for the Iraqi, the news that talk about the dismissal of its president from office, calling media to stay away from the rumors and transfer news from the source of the main .
The Association of Banks own in a statement press received ” Economy News , ” a copy of it, it is not the health of the information that circulated by some media information on the dismissal of the President of the Association of Banks for the office ” , pointing to the president is still exercising his functions at the headquarters of the Association of Banks own central Baghdad and that change will be through elections.
She added that issuance of such information at the time the current goal of influencing the sector banking especially that the organizations international praised the work of the Association of Banks own during the period current calling media media to precision in the transfer of the news and stay away from targeting personal.
It showed that the Association contributed to the development sector, the banking and was able to train more than a thousand employees a government and particularly the latest means of modern used in banks specifically in the field of combating laundering money and financing of terrorism stressing that ” the Association held many of the conferences and became a gateway to connect banks Iraqi with its counterpart global
______________________________________________________________
We hold these truths to be self-evident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness. – Thomas Jefferson
_____________________________________________________________
The Council of Ministers holds its regular session chaired by Dr. Haider Abadi
The Cabinet held its regular session on Tuesday 6 June 2017 under the chairmanship of the Prime Minister Dr. Haider Abadi.
During the meeting, a vote was taken on the establishment of a factory for the production of cards and passports attached to the draft unified national card.
In addition, a number of decisions were taken on the health side, namely the completion of the Thalassemia building project at Ibn al-Baladi Hospital, in exception to Cabinet Resolution No. 347 of 2015 as one of the important strategic projects within the geographical area of Baghdad Health Department.
The council agreed to complete the 40-bed hospital project in Dujail.
The bill on HIV testing was voted on.
An amendment to the State Council Bill was also introduced.
A bill was also voted to change the name of the provinces of Qadisiyah and Tamim to the provinces of Diwaniya and Kirkuk.
The Cabinet discussed the requirements of the Ministry of Defense in addition to the supplementary budget for 2017 and the entitlements of contractors.
______________________________________________________________
Kaperoni (Dinar Guru) […is it better for Iraq to rebuild itself at the present rate or at a re- established rate?] …at this point and time, it does not matter what the exchange rate is regarding rebuilding…since the primary source of revenue is oil sales (95%) which is paid in dollars. And since the dinar is not globally convertible, Iraq pays for goods in dollars. So in that sense they are on the same playing field we are on in the US when we pay for goods. The real benefit comes when the CBI can begin to raise the value to offset inflationary pressure created by investors and investment along with meeting IMF Article VIII compliance. The result will eventually give the citizens a better life, greater purchasing power and most importantly the ability for the CBI to keep its dollars and pay in dinars.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
The parliamentary economy supports the recent central bank measures to regulate the sale window of the currency
Economy News Baghdad: Announced A committee Economy Parliamentary, Tuesday, Support For procedures the bank Central Last Organized by Action Banks at Window Sale the currency Indicating that the Central Bank carried out the classification in cooperation with the IMF and the World Bank.
She said member A committee Economy Parliamentary elections Najeeba Najib For “the economy News ” , The ” classification the bank Central For banks Dakhla at Window Sale the currency a step Good very Its objective Reform Monetary ” , Shown That “the bank Central Take this is Measures In coordination With Experts Foreigners Specifically From the states United Nations The United States Plus to me Box Cash And the bank International “.
She added That ” evaluation the new Of the Bank Central rely On Seven Items The most prominent Standards Transparency And the wash Money Which gave to her Degree 50 From 100 Plus to me head the money And grant Loans ” , She said to me That ” some Banks Its goal Access at Window Sale the currency To achieve earnings On an account Economy Iraq Than I got On Degrees Low at Classification “.
She confirmed That ” banks Which I got On Centers Last on her that Corrected Status in order to Stay at Window Sale Currency ” , hostess That ” develop Sector The banker Will result to me has evolved Economy And therefore that the bank Central seem Reform From During Window Sale Currency “.
_____________________________________________________________
BGG (Dinar Guru) – “Our economy is space. Monetary policy is an example” The…article is a VERY HARD translation – BUT IMHO FILLED with DEAD GIVE-AWAYS! …for those pouting about not being rich yet – this is one more log on the FIRE! What it means is – they are doing things (up until now) this economist doesn’t understand and can’t explain. Quotes: “…we urgently need a new economic philosophy that leads to generating development And to expand the supply and demand for local production in all its variants, especially in an important aspect of monetary policy is dealing with the value of the development of the dinar or the liberation of the value of the dinar...” “The liberalization or floating of the currency is not strange or innovative in the money market, it is a tool of the monetary policy…” BOOOOM…That’s all I have to say. That is a DIRECT narrative on the state of the currency value in Iraq. This was published yesterday. Cannot be anymore direct.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
The stock market is trading more than a trillion shares during the month of May
Economy News _ Baghdad: The Iraqi market for securities during the month of May more than a trillion shares, achieving an increase in the number of companies and transactions executed during the same month compared to last April.
“The market during the month of May last year was trading 22 sessions in the regular market and 11 sessions in the second market where the ISX60 index closed at the end of May 2017,” said Taha Ahmed Abdel Salam, the market’s executive director. At (591.44) points, down by (6.8%) compared to its value at the close of the month of April (634.98) points.
“The number of companies listed in the market during the month of May reached (101) companies with the number of listed shares (10.739) trillion shares, pointing out that the trading focused on the shares of” banking “and traded at the highest level in the Middle East Bank With the number of shares of 16.8 billion shares, where the closing price of JD (0.400) decreased by (23%) from the previous month’s closing of (0.520) dinars followed by the Bank of Babylon number of shares of 16 billion shares, down by the closing price of (0.330) %) From the previous month’s closing of (0.380) dinars.
He added that “Gulf Commercial Bank had traded the number of shares of 3 billion shares, the closing price of (0.370) dinars by (17%) from the previous month’s closing of (0.450) dinars, followed by Baghdad soft drinks company shares of 2.7 billion shares , Down by (1550%) from the previous month’s closing of (2.200) dinars, followed by Bank of Baghdad with the number of shares of 2.6 billion shares, also fell by the closing price of (0.740) dinars by 17% The previous month of (0.900) dinars, Sumer Bank and the number of shares of 1.5 billion shares, maintaining the closing price of (0.900) dinars on the same closure The former and Al-Mansour Bank traded 1.2 billion shares, the closing price of JD (0.850) dropped by (4%) from the previous month’s close of JD (0.890).
The ratio of the number of shares traded to the number of listed shares in the stock market during the month of May was as follows (the financial transfer sector 4.3%, the insurance sector 4.10%, the financial investment sector 2.28%, the industrial sector 1.15%, the services sector 1.02% Banking sector 0.63%).
“The indicators show that there was an increase in the number of companies traded compared to April last month by (4.6%), where the month of May 68 companies, while an increase in the number of transactions executed by (44.7%), but there was a decline in the The number of shares traded increased by (6%) to (75.745) billion shares in May, and a decrease in the value of shares traded by (20%), which reached (54.121) billion dinars in May, (48) companies out of (68) companies traded in the market. ”
______________________________________________________________
Kaperoni (Dinar Guru) – Artile: “Experts: float the currency needs to be a productive economy and not Rieia (rentier)” Quote: “…to float the currency now in Iraq can not talk about that simple, as needed to advance measures…it could be done if the transformation of the Iraqi economy from a yield to productive…” This is actually a really good article because they state very clearly that under the current conditions they cannot float the dinar…and only once the market economy begins can they do so. So we continue to wait for Iraq to set the stage for investment. Pass the needed laws, get the dinar in compliance with the IMF, etc. to move to Article VIII. Only then will we see the dinar float and rise based on market forces. I am hopeful that yet this year we can see that happen.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
BGG (Dinar Guru) – I am very excited about the current state of things. I am very excited about the next short time frame… I think we are in an incredible window of time right now…and I do feel – if things advance as they have been – we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before. (keep in mind – we have been close before – the CBI had planned on 2013? sometime and put it off). According to the SIGR Report. We are close. REAL CLOSE.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
______________________________________________________________
BGG (Dinar Guru) – Article: “Iraq offers compensation settlement and Kuwaiti debt against investment” Quote: “…the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.“. two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq? One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period. Really good news – entering final talks – it appears.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “ATMs for MasterCard card users” …it is fun to watch all the pieces be put in place for the economy to take off. Iraq is literally going from the stone age to the 21st century with technology in a few years.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Adam Montana (Dinar Guru) – [What will happen to the other major currencies when the CBI RV’s the IQD/USD exchange rate? The countries using the EUR, the GBP, the CHF, the JPY, and the CNY all have international corporations invested in Iraqi oil with contracts based on today’s exchange rates. How will a radical upward IQD/USD RV (which effectively decreases the value of the USD against the IQD) affect the EUR/USD and the GBP/USD and the CHF/USD and the JPY/USD and the CNY/USD exchange rates? Will these other major global currencies also be devalued and what in your opinion will that do to an already stressed global economy?] This is a great question, because it opens up the floor to discuss how an RV is really a zero-sum game, mostly because we are talking about a fiat currency. When the FED prints more USD, we don’t actually gain that money. It just dilutes the dollar a little bit more. IQD, and an RV of the currency, works the same way, just on a global scale. My opinion is that almost every other currency will take a slight hit, and then rebound once the IQD rate stabilizes, and within about a month all currencies will be back to normal… except the IQD will be dramatically different than it was a month prior.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________
Iraqi Dinar/Dollar auction 06-7-17 (most recent listing)
Currency Auctions Announcement No. 3460
This daily currency auction was held in the Central Bank of Iraq on the 06-07-2017
| DETAILS | NOTES |
| Number of banks | 35 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 152,560,881 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 152,560,881 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
______________________________________________________________
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1332.947 | 1332.281 |
| British pound | GBP | 1528.130 | 1527.366 |
| Canadian dollar | CAD | 879.578 | 879.138 |
| Swiss franc | CHF | 1227.197 | 1226.584 |
| Swedish krona | SEK | 136.683 | 136.614 |
| Norwegian krone | NOK | 140.077 | 140.007 |
| Danish krone | DKK | 179.198 | 179.109 |
| Japanese yen | JPY | 10.776 | 10.771 |
| Special Drawing Rights |
SDR | 1642.883 | 1642.061 |