Abadi: Iraq remains and triumphs and radiates hope to others
BAGHDAD, Iraq – Prime Minister Haider al-Abadi said on Saturday that the advisory fatwa was turned into a victory fatwa, after the sons of the country responded to the fatwa of the religious authority Ali al-Sistani, explaining that Iraq remains and triumphs and radiates hope to others
The victory makers are the martyrs, the wounded and the fighters, as well as the engineering effort, the medical effort, the air force and other tanks a statement from the media office of Abadi said.
We have won and we will continue the journey of victory, and everyone should not listen to the stingy voices We will not allow them to take us back to square one the statement said.
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Adam Montana (Dinar Guru) – [what is your take on their statement of establishing the National Oil Company and then doing the HCL?] I don’t think the National Oil Company is a prerequisite to move forward on the HCL. [If the Kurdish separate from Iraq, will they still use the Iraq Dinar? Whats your opinion how this would effect our investment?] It’s my opinion that will never happen.
Read more: http://www.dinarupdates.com/observer/
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G-Lin (Dinar Guru)- “In a letter sent by the International Monetary Fund, congratulated the Central Bank of Iraq, the Ministry of Finance and the Prime Minister’s Office on the success of the second audit consultation on the Credit Standby Agreement, which came after Implement the programs and financial and monetary targets and put them in a framework that provides for the financial stability of Iraq and meet the financial and security challenges.” However, this says they will have a third review in Sept. on Iraq’s monetary policy. That’s unusal and I like it.
Read more: http://www.dinarupdates.com/observer/
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Bruce (Dinar Guru) – What we are hearing from Iraq’s point of view is they were going to have the IMF meeting in Iraq today [Tuesday]… I do know that things have occurred over there with the Iraqi citizenry where they do have a new rates and do have their new Qi cards which I refer to they have a share of the oil and gas exploration revenue on those cards. …Today this morning for the citizens in Iraq, those cards were live and accessible. They were able to access those funds at the new rates… That has to tell us that we are very close. …I think the IMF meeting was an overall success. I believe what Iraq needed to do is present their rate to the IMF today and I believe they did that successfully. I believe they had that rate approved today.
Read more: http://www.dinarupdates.com/observer
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International Monetary Fund confirms Iraq’s commitment to the reforms required by the Second Review of the Credit Standby Agreement
Alsumaria News / Baghdad The International Monetary Fund (IMF) on Wednesday confirmed Iraq’s commitment to the reforms required in the second review of the credit standoff agreement, adding that this will pave the way for the third review, which will start in September.
The Central Bank of Iraq in a statement received, Alsumaria News, a copy of it, “The International Monetary Fund congratulated the Central Bank and the Ministry of Finance and the Prime Minister on the success of the second audit consultations and the Convention on credit readiness after the implementation of programs and financial and monetary targets and placed in a framework that provides financial stability for Iraq and face Financial and security challenges “.
He added that “the program includes a set of reforms and goals have been committed to the interest of Iraq, and the latest supplementary budget approved by the House of Representatives in record time, which showed the keenness of the legislative and executive authorities on the plan and programs of reform.
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The stream of wisdom is making fundamental changes in its leadership: Alaa Moussawi is responsible for the Electoral Office
Announced the stream of national wisdom headed by Ammar al-Hakim, on Monday, the changes in his leadership and the development of the site of the Secretary of the wisdom stream for each province, pointing to the appointment of the leader of the current Alaa al-Musawi, an official of the Electoral Office.
A statement by the current received by “Al-Ghad Press” a copy, “The Executive Office of the stream of wisdom held two consecutive meetings in the presence of all members, on 30 and 31 July 2017.”
He added that “the meeting reached a number of important decisions, first to develop the site (Secretary of the National Wisdom Stream) for each province, which is linked to all organizational joints and institutions and is directly responsible for the province.”
The statement pointed out that “the second decision is to name Hassoun al-Fattalawi responsible for the organization of the current national wisdom in Iraq, replacing Alaa al-Moussawi and Baligh Abu-Ghal,” indicating “naming Alaa al-Moussawi as director of the electoral office of the stream of wisdom successor to Mohammed al-Shammari.”
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Enorrste (Dinar Guru) – Article: “Governor of the Central Bank of Iraq: expect economic movement in the next stage” …this is opening the door to foreign investment. Quote: “noting that “Iraq will be able to attract foreign investment because of the stability of the security situation and increase the number of investment opportunities.” Therefore…we should expect the dinar to be opened to the world market very soon. There will be no foreign investment without an internationally tradable currency.
Read more: http://www.dinarupdates.com/observer/
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Central Bank: Our financial situation is good for four years to come even as oil prices do not recover
The central bank explained that the reserve of gold that it has, is part of the cover of the national currency, and its function is not the transition time hard to dollars to strengthen the budget as some believe, and stressed by saying, it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come. An economist confirmed that the central bank has good reserves and does not raise the burden of deductions from the citizen, as some believe, indicating that the reserve is used to finance imports. Not for domestic spending This is the case in all countries of the world.
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MilitiaMan (Dinar Guru) – Article quote: “to achieve the goal of maintaining the exchange rate and ensure the use of foreign currency out of order to meet the needs of the economy and market and development and non-directed to non-purposes; ” There is a meeting with the IMF on 08/01/2017 if I am not mistaken. A one in regard to Article IV with Iraq. The article above speaks volumes of what has been done over the preceding two years. Not just one year. I believe this has to do with Article VIII… They have been working to maintain the exchange rate of the Dinar against Foreign Currency to cover imports entering Iraq while maintaining their independence under law. They go on to say that they are (imo) effectively ceasing MCPs (Multi Currency Practices) not supported or at least if are supported by the IMF, they are under the guidance of the IMF when doing so and would be short lived if even relevant. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) – They have all the mechanisms in place to facilitate trade to serve their national economy from the looks of things. They have mediation in order to be prepared for typical disputes in trade at borders. Basically, they are fully ready, if not already INTERNATIONAL and by all means! They are telling us they are going to contribute to GDP by having implemented monetary policy for sustainable development. They are telling us the Central Bank has facilitated procedures and controls, became transparent in disclosures in regard to maintaining their exchange rate. Ya buddy… This meeting with the IMF is not about what needs to be done, it is done! It must be about dotting I’s and Crossing T’s, and atta boyz and girlz, for a job well done! imo. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – My optimism in this venture is not waning, nor is it diminished even slightly. We have nothing but positives to consider at the moment. The cold hard truth is this: Iraq had a long road to travel. They have stood the test of time, they have marched forward through amazing troubles, and they are still heading in the “right” direction. But at no time in history, and at no time in the future, will they EVER tell us the “date” that they will do what they are bound to do at some point. At some point, they will raise the value. This is undeniable. But if they will do it tomorrow, or next Tuesday, or in a month or a year? We will never know that. I am going to say something with absolute conviction right now. This is absolute, no possible way to refute it, it is ABSOLUTE just like gravity pulls you towards the earth. With all my connections, with my decades of international communication and (I don’t even know how many airmiles) of travel, my past and present work and friendships with bankers, CEOs, politicians and more… I will tell you this… [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
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Petroleum products distribution company: Investment refineries in the Kurdistan Region provided alternatives to refinery Baiji
General Manager of Oil Products Distribution Company Ali Abdul Karim Al Moussawi
Ruudao, Baghdad The director general of oil products distribution company Ali Abdul Karim al-Musawi said on Thursday that the investment refineries in the Kurdistan region were the best alternative to the processing of oil derivatives after the exit of Baiji refinery for service.
“The Baiji refinery, which supplies Iraq with about 45 percent of the oil derivatives, has not been an obstacle to the processing of the provinces because of the available alternatives, which were the investment refineries in the Kurdistan Region as well as the derivatives imported,” Moussawi told the network.
He was able to organize a bid to take control of Baiji refinery (40 kilometers north of Tikrit, Salah ad Din province) in April 2015. Baiji refinery witnessed bloody fighting between the Iraqi forces and the organization Daqash, which led to serious damage and stop service.
Al-Moussawi confirmed that the oil products distribution company started to equip generators with derivatives according to the support of Iraqi provincial councils. Explaining that the company relies on monthly or annual periodic reports to consider the validity of generators.
He also pointed out that the company distributes oil products will depend on the distribution of oil rations to the citizen monthly to provide stocks before the winter to avoid the occurrence of crises.
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Kaperoni (Dinar Guru) – Article: “Governor of the Central Bank of Iraq inspected the headquarters of the International Development Bank” They clearly seem to be getting ready for international banking!
Read more: http://www.dinarupdates.com/observer/
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RayRen98 (Dinar Guru) – The CBI talked about economic reforms in the next few days, and said that they would lose IMF support if they didn’t get it done! We haven’t had confirmation of lower denominations. IT was said that the supplementary budget had to be passed first, and we understand that when it is passed, the rest will appear in the next few days. Over the weekend, we were told that the budget was approved and it should show up in the Gazette on Wednesday. Iraq has a meeting …1. August with the World Bank about their 580 billion dollar loan, and reforms must be in place before that time. The CBI has submitted their paperwork to the World Bank, and I guess we are waiting for the IMF and World Bank to sign off on it. So we are looking for this to unfold prior to August 1, or on August 1. We’re feeling pretty good about the 1. August, or before, unless something unforeseen happens. It looks like we are at the end of this ride, based on the information.
Read more: http://www.dinarupdates.com/observer/
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The greatest stimulus of mankind is freedom. – Paul Ryan
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Oil: We seek to increase production of refineries and reduce imports to provide hard currency to the state treasury
Baghdad / Range Oil Minister Jabbar Ali al-Allaibi said in a statement that the ministry has developed large plans to develop production in Iraqi refineries and increase and improve production units to meet the local need of oil derivatives and reduce imports and provide hard currency to the federal treasury of the country.
The ministry said that the ministry has large projects to establish several refineries in the south, center and north of the country, and has offered to invest during this year, to produce more than one million barrels of oil derivatives to reach self-sufficiency of oil products and export surplus, which will increase the financial revenues of the state .
The statement also pointed out that the minister instructed the increase of production capacity of Najaf refinery to 50 thousand barrels per day, during the visit of the minister to the province of Najaf and meet with officials, while the spokesman of the ministry Asim Jihad during the statement, that the Minister of Oil also instructed the addition of new production units card 20 Thousand barrels to the current capacity of the refinery of Najaf, amounting to 30 thousand barrels, so that the capacity of the refinery to 50 thousand barrels.
The Ministry of Oil has announced on Tuesday, 25-7-2017 on the rate of exports and revenues achieved for the month of June, according to the final statistics issued by the Iraqi oil marketing company “Sumo”, more than 98 million barrels of revenue more than 4 billion dollars.
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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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Keywords: the next stage will witness economic victories
Through the trend towards construction and reconstruction of Baghdad / Hussein after Iraq has proved to the world enraptured images and values of the human and moral waiting to prove an economic victory over the construction and reconstruction during the next phase, and that the new role requires concerted efforts combined to support reconstruction, which should banks be the cornerstone in this matter and doing very well through their sophisticated technology.
These words were Governor of the Central Bank and the Association of Banks during the ceremony organized by the International Islamic Bank on the occasion of victory over the “Daesh” terrorist and the granting of a certificate of ISO International Bank , which is the financial success of our sector. Page task Central Bank Governor Dr. Ali Keywords said that Iraq has proved the finest images triumphs of the world and move human values before the weapon , and so was the pride in the battle that will retain its history, pointing out that the new role is to address the building and reconstruction and succeed in this page task.
We cherish that Iraq has the power and energy that will enable the country to economic advancement, and in the financial sector , we note the progress and innovation, urging young people to be more distinctive and characterize their ability to capture sophisticated information, asking the banking sector to be the first among the country ‘s institutions in the use of advanced technology, and must speed in the use of technologies.
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Iraqi private banks association: We seek to open up prospects for cooperation with foreign and US banks are particularly
The Minister of Economic Affairs at the US Embassy Larry Mimut on Wednesday, the banking sector , the most important one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop, as Iraqi banks are encouraged to open relations with the US private banks association, and at the time indicates the International Development Bank, that many of the Iraqi private banks in compliance with international standards, and is ready to open accounts with banks in foreign correspondence because of its unique cadre of integrated services, has accused the Bank of Baghdad administration, government banks acquired the banking business in Iraq because of policies The government supported the banking sector account.
This was during a panel discussion held by the Iraqi Association of private banks at its headquarters included both the representative of the Central Bank of Mazen morning and the representative of the Union of Arab Banks Khawla al – Asadi and a member of the Committee on Economy Parliamentary Mahdi Al – Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for Economic Affairs Embassy American Larry Mimut, in addition to the representative of the US Treasury in Iraq, with the aim of opening a new page of relations with foreign banks, particularly US banks.
The Iraqi Association of private banks in a statement after the meeting got (range) , a copy of ‘The aim of this dialogue session is to open a new page of relations with foreign and specifically with US banks banks’, where he formed a committee chaired by the representative of the Central Bank, as agreed the formation of a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks and the US specifically. ‘
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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
ith-a-global-company-to-determine-the-extent-of-damage-in-liberated-c
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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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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 |