Prime Minister Dr. Haider Al-Abadi receives the Regional Director of the World Bank
The Prime Minister received Dr. Haider Al-Abbadi, Regional Director of the World Bank, Saroj Kumar Jha.
The Regional Director of the World Bank congratulated Dr. Abadi on the victories and the liberation of Mosul, stressing the readiness of the World Bank to assist and support the efforts of the Iraqi government and its plans for economic reform and the promotion of reconstruction projects and development of Iraqi cities.
Dr. Abbadi stressed the importance of cooperation with the international efforts in support of Iraq, and accelerate the steps of programs related to job creation, economic revitalization, return of displaced persons to their homes, and ways to coordinate initiatives related to stability and reconstruction.
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Prime Minister ‘s Media Office
19 July 2017
Read more: http://www.dinarupdates.com/showthread.php?52244-Prime-Minister-Dr-Haider-Al-Abadi-receives-the-Regional-Director-of-the-World-Bank
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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Follow us on twitter @DinarUpdates !!
Dinar Updates – Conference Call – with BGG & Company – July 23rd, 8:00 PM CST Phone # 641-715-3640 PIN# 528733
www.DinarUpdates.com – save as favorite
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Central Bank: We worked with the government to give confidence to the private banking
Central Bank Governor Ali al-Alaq said on Wednesday that the central bank has actively sought with the government to give a role to the private banking sector through the trust it has given it.
Al-Alak said in a speech at a ceremony organized by the International Islamic Bank on the occasion of receiving the certificate of quality in information security, which was attended by “Economy News”, “The banking sector must apply to all formations and institutions of the state in the use of information technology, “The banking sector must be confident of its steps and methods and be subject to the examination process at any time in accordance with international standards to raise its position globally, and this is achieved through certificates granted to quality management and give full confidence to the Exchange rate. ”
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We are Stabilizing IQD Exchange Rate without a space for Speculation: CBI Governor
On Sunday, the Governor of Iraqi Central Bank issued a statement that main objective of CBI is to stabilize the balance between the sale of U.S dollar and demand in the domestic markets. He also added that the sustainability shouldn’t be considered an edge of speculation and huge profits.
The Governor of CBI delivered his words in a press interview with Alsumaria News and indicated that the Bank is looking to maintain a balance between the sales of U.S dollar and to keep it stable. He pointed out that the balance of foreign currency has become strong in the past couple of years and there isn’t any kind of space for speculation and huge profits. He added that Iraq has been experiencing some exceptional circumstances and a significant amount of decline in the global oil prices was considered one of the major reasons behind the economic and financial crisis in the country.
He added that there were two choices in front of the policy of Iraqi Central Bank, whether to respond the U.S dollar to prevent the speculations. But, it would be more costly in the reduction of foreign currency reserves at the CBI due to the foreign currency sale process or accept a margin of increase in the U.S dollar exchange rate against the Iraqi dinar currency. He said that the Iraqi Central Bank was looking to maintain a balance between two objectives. He said that CBI was established as an independent bank under the law implemented on 6th March 2004.
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Kaperoni (Dinar Guru) – Article: “Central announces solutions to avoid a shortage of dollar “deviation” in the price of holidays” They should have been doing this all along. Taking days off allows for the spread to increase due to a shortage. I would guess the IMF had a hand in this to get them to start attempting to get in compliance…and the CBI trying to minimize losses by only holding auctions on a schedule. But the reality is the fix is not to conserve dollars, it is to weed out the corruption.
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Map: Tal Afar in the sight of Iraqi forces
On Wednesday, the Military Information Cell published a new map of the province of Nineveh, showing the remains of Daish in Tal Afar district.
The map shows the black areas controlled by Ta’ash, which are part of Tal Afar, green areas showing Iraqi forces’ control, and red areas that are considered as clash zones.
On Monday (July 10th), the prime minister of the armed forces, General Haider al-Abadi, announced the lifting of the flag of victory in Mosul and its liberation from the terrorist.
Read more: http://www.dinarupdates.com/showthread.php?52257-Map-Tal-Afar-in-the-sight-of-Iraqi-forces
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Frank26 (Dinar Guru) – [Do you know when the MasterCard message was added to the Rafidain bank website?] YESTERDAY. [Did they initiate the RV process on Friday or Saturday?] NANO SECONDS AFTER MOSUL. [how will the [RV] launch be revealed?] ONLY BY THE CBI POSTING THE NEW RATE NOTHING ELSE COUNTS. [IYO, Does Iraq have the capacity and capability to withhold from posting a new trade-able rate on the CBI W/S (if they choose to), for an agreed or negotiated period of time?] YES! [When do you expect the rate to change?] IMO THIS YEAR. IMO EVERY SECOND HAS POTENTIAL NOW.
Read more: http://www.dinarupdates.com/observer/
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Islandg1211 (Dinar Guru) – Eight months ago, I posted that we would need to see in this order before the RV…the following:
1) Mosul Liberated, Announcement by Abadi, and a Celebration. Done.
2) Agreement with Kurds, including oil and territory settlement, then finally the HCL will be in position to be passed by the GOI. (Kurds, including Barzani and the oil minister from Baghdad meet today…) Getting Done.
3) CBI re-educating citizens on the deletion if the three zeroes (we are seeing the payments in country with e-dinars, CBI website upgraded to BIS), and finally
4) Iraq being compliant with Article VIII with the IMF and 5 – UN lifting sanctions and the RV.
The IMF is meeting with Iraq in DC this week. The UN came out a couple of days ago and told Iraq they need to be Article VIII compliant/RV. The lynchpin to the RV, now that Mosul has been declared liberated by Abadi, the Kurds and Baghdad finalizing the HCL agreement. Barzani wants independence, and this agreement is going to have to allow for that contingency in order to get him to sign off on it. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
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Delta (Dinar Guru) – …the CBI has to move forward. The media … just like we predicted … as soon as they get Mosul … speed of light. Right away the media has been jumping the gun on talking about the economy, etc. ..the CBI…we’ve known since January they been wanting to pull the trigger. The next 24-48 hours is going to be very interesting.
Read more: http://www.dinarupdates.com/observer
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Central Economic and victory
Dr.. On behalf of the Patriarchs In his comment exhibition on the paper presented by the Governor of the Central Bank within a seminar held in Baghdad, Prime Minister for Financial Affairs Acanutormzar adviser Mohammed Saleh he said that the central bank contributed to the victory over Daesh through its success in achieving financial and monetary stability in the country during the period of military confrontation and thus maintain the level standard of living of the citizen, as well as it lent the government (indirectly) more than twenty trillion dinars.
He added adviser said the central bank had two choices : the first is to maintain internal independence towards the government finances and the failure to provide any financing to the government through the secondary market, which could have created a major financial crisis , and the second option to sacrifice its independence in order to maintain the stability of the financial situation and not to collapse, has Central preferred the second option in order to achieve stability.
Although this is still some singing charges for central without taking into account the state of war that call for providing the most important on important, some of them wonder about the central refusal to provide funding to the previous government, simply I think that the previous government requested funding has owned a financial surplus and a far cry between the two cases and, by contrast to imagine what it could be the case if the government was unable to pay the employees ‘ salaries?!.
Some say that the government withdrew from the bank reserve, and to clarify say: that the central reserve of foreign currency is not the government reserves last because to be the Ministry of Finance, as the government did not withdraw from the central reserve and it is permissible, and the central reserve changes linked to the first two factors is demand on the dollar , which is derived from the demand for imported goods and services generated by public spending.
The second issue is presented dollar (sold from the Ministry of Finance to the Central to buy the dinar), depending on the dollar revenues received by the government from oil which are affected by the quantity and price and when it drops one or both decreasing size of the reserve, and therefore the reserve is linked to public finances of the state.
Here we must recognize the central successfully during the crisis in maintaining the size of the reserve in accordance with the internationally accepted standards as well as the installation of financial stability contributed to the achievement of economic victory.
Read more: http://www.dinarupdates.com/showthread.php?52241-Central-Economic-and-victory
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Finance confirms inclusion of all ministries and government advances
BAGHDAD / … denied the Ministry of Finance, on Tuesday, the exception of some ministries of advances launched by government banks, while confirming that the advances launched by banks to be inclusive of all ministries, without exception.
The director of the angel department and the public sector in the budget department in the ministry Kawthar Abdul Ilah’s “Eye of Iraq News”, that “there is no exception to some of the ministries of advances launched by government banks,” noting that “all the news that talked about the presence of Estinaat is news completely untrue. ”
She explained Abdul Ilah, said that “advances launched by banks to be inclusive of all ministries, without exception,” he said, adding that “the Ministry of Finance and clear instructions in this regard.”
The pages in some social networking sites have talked about the exception of some ministries of advances launched by government banks due to the reluctance of employees of those ministries to pay the loans and advances granted to them.
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Iraq contracts with a global company to determine the extent of damage in liberated cities
Najeeba Najeeb, a member of the Committee on Economy and Investment Parliamentary, revealed Tuesday, the contract of the Fund reconstruction of the affected areas with a global company to limit the damage suffered in the liberated areas, noting that what knows the talk of damage and destruction just expectations.
Najib said in a press interview that there is no real and clear number indicating the extent of the devastation and devastation of the liberated cities, pointing out that a global company will take care of this after the contract of reconstruction fund of the affected areas.
Najib added that the cities of Iraq that have been subjected to terrorist operations need international support, and these funds are not given without the existence of documents and accurate evidence, “indicating that” the work of the company is to limit the amount of damage and destruction in those cities.
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After Mosul’s full liberation Iraq’s Abadi visits Nineveh Ops Command
Iraqi PM Haider Abadi has visited headquarters of Nineveh Operations Command and met with military commanders.
This comes after the city of Mosul had been declared fully liberated from ISIS terrorists on Sunday.
Abadi was due to give a victory speech on Sunday. But the speech was delayed for unknown reasons.
The city fell to ISIS in June 2014 amid collusion from former PM Nuri al-Maliki.
Iraqi army, supported by US-led international coalition, has launched an offensive code-named ‘We Are Coming, Nineveh’ to oust ISIS terrorists from the city.
Iran-allied sectarian militias, known as IMIS, gave support to Iraqi forces.
But the Iran-backed militias have committed atrocities against civilians, particularly the Sunnis.
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Phillyman (Dinar Guru) – [Once they finally clear ISIS wonder what the next obstacle is gonna be before we see a change in the rate…] …Even though they clear IS out of Mosul they are still in many other areas of Iraq. Will it stop the changes we are looking for from moving forward? Violence has permeated the region for centuries. [Guru] Breitling says the Sunnis will always hate the Shia but that it will not impact this reform. There seem to be too many countries/businesses pouring assets into Iraq to think it won’t turn around soon but of course time lines have brought so much frustration to this investment.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – [Could Iraq state that only currency handed in to Iraq with-in its borders be given the preferential rate to start with? Please don’t think this is somehow an in country RV question I am asking as we know that rumor is totally bunk. Just thinking they may want to control the influx of currency to begin with is what I am getting at in a nutshell I guess.] I think that what you are describing is still an in-country RV, with a twist that the in-country part is temporary. If that’s what you are asking, then yes – it is possible. I don’t think it’s likely, but it is possible.
Read more: http://www.dinarupdates.com/observer
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BGG (Dinar Guru) – …I half way didn’t expect them to do this..but folks this is real. They are going to turn over the last bit of whatever is remaining in those funds…the food for oil program to Iraq and they are recognizing them as a country. They are not talking about letting them out of Chapter VII and it’s not even under chapter VII. This is Chapter VII charter. It’s a protection program. Looks like to me they had the meeting in 3 minutes and they put their rubber stamp on it and it’s over. It’s not the end of the security file…it’s the end of that particular program. There’s one more log on the fire. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
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“Flash Cast LIVE” – Tuesday (the 21st) w/BGG
Click here for Video Replay
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Kaperoni (Dinar Guru) – “CBI website has a new look!” This is a good sign. I know it’s easy to just assume they are remodeling there website..but I think its much more. With all the speculation that the banking system must open up to perpetuate international activities to support global investment, this new website to me is much more polished, professional and institutional. We could be getting closer.
Read more: http://www.dinarupdates.com/observer/
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Chattels (Dinar Guru) – “CBI website has a new look!” “H.E Mr. Ali Muhsin Ismail / Acting Governor and Head of the Executive Board” I believe that the reference to Ismail as the “acting governor” is a change.
Read more: http://www.dinarupdates.com/observer/
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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!!)
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Iraqi Dinar/Dollar auction 06-21-17 (most recent listing)
Currency Auctions Announcement No. 3470
This daily currency auction was held in the Central Bank of Iraq on the 06-21-2017
| DETAILS | NOTES |
| Number of banks | 39 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 159,617,756 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,617,756 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
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| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1325.962 | 1325.299 |
| British pound | GBP | 1515.757 | 1514.999 |
| Canadian dollar | CAD | 895.884 | 895.436 |
| Swiss franc | CHF | 1219.613 | 1219.003 |
| Swedish krona | SEK | 135.962 | 135.894 |
| Norwegian krone | NOK | 140.286 | 140.216 |
| Danish krone | DKK | 178.289 | 178.200 |
| Japanese yen | JPY | 10.663 | 10.657 |
| Special Drawing Rights |
SDR | 1636.868 | 1636.050 |