Central Bank to Tackle Hoarding of Iraqi Dinars
The Central Bank of Iraq (CBI) has held symposium entitled “Analysis of the phenomenon of Hoarding in Iraq“, addressing the problem of people hoarding Iraqi dinars (IQD), and not making them available to the banking system.
During the seminar, the Governor of the Central Bank, Dr. Ali Mohsen Ismail (pictured), pointed out that cash is not available as planned, and that the CBI is drawing up plans to solve this problem and attract money into the banking system.
According to a CBI statement, the term “hoarding” is used in its economic sense to mean “holding money and imprisoning it from circulation or keeping them in the boxes inside the house and not taking them out to trade in the markets.“
Read More: http://www.dinarupdates.com/showthread.php?54206-Central-Bank-to-Tackle-Hoarding-of-Iraqi-Dinars&p=179048#post179048
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Sept. 1st – “FB Live” Video Link
From our Sept 1st Facebook Live. “Verify Your Dinar”. We re-recorded this – I hope this works better for everyone.
For a limited time – I am personally handling the sale of some privately held Dinar. It is from a premium source and is in excellent condition (Uncirculated 25k notes).
If you would like to add to your Dinar holdings while it is still possible, send me a PM via FaceBook (in the Private Group) or send an e-mail to DinarUpdates@comcast.net . I will make the arrangements.
Thanks
BGG
P.S. This is for a friend with significant holdings needing to “save the ranch”.
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Source: Parliament of the region will postpone the referendum with American advice
Baghdad – A source familiar with the Kurdistan Regional Parliament, will vote to postpone the referendum of the Kurdistan on 25 September to another notice.
The source told the agency of all Iraq [where] that “the parliament of the region will hold its meeting tomorrow after a break of more than two years of political differences, and will vote to postpone the referendum,” noting that “this step came as a US advice as a way out of the crisis.” The source preferred to “boycott the two blocs of change and the Islamic Group reserved to the referendum for the session.”
The US envoy to the international coalition, Brett McGork, arrived today in the Kurdistan region and held talks with the Patriotic Union of Kurdistan and change in the city of Sulaymaniyah will also visit Erbil this evening to meet the President of the region Massoud Barzani. It is noteworthy that until today, the region insists on holding the referendum on its scheduled date on September 25. The parliament of Kurdistan postponed its meeting scheduled for tomorrow to vote on the referendum to the next genie.
The House of Representatives voted yesterday to reject the referendum of Kurdistan and also committed Prime Minister Haider Abadi to take all measures that preserve the unity of Iraq and sovereignty with the opening of serious dialogue to resolve the problems between the center and the region.
The Kurdish deputies withdrew from the session in protest against the rejection of the referendum. “The Iraqi parliament will not be able to break the will of the Kurdish people,” said Massoud Barzani, head of the Kurdistan region, on Wednesday. “Whoever wants to test the will of the Kurdish people, let us accept and they must first criticize themselves.” “The decision of the Kurdistan referendum can not be carried out unilaterally, and the imposition of the status quo by force is unacceptable and will not continue, not a solution,” Prime Minister Haider al-Abadi said at his weekly press conference.
Alliraqnews.com
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Adam Montana (Dinar Guru) – [What would a independent Kurdistan mean to our hopes and dreams to retire via nice RV? Do you still believe they will never separate?] I still don’t think they will split… But I LOVE how this current situation and the events unfolding right now are pushing things in a very positive direction. Things are looking very good for us right now!
Read more: http://www.dinarupdates.com/observer/
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Aggiedad77 (Dinar Guru) – Article: “The Government approves the tasks and mechanism of the Higher Committee for Investment and Reconstruction” On the surface this little article seems to be nothing big…but look who approved the tasks…the CABINET…Abadi’s Cabinet…on a Monday…out of the ordinary they would meet today…they normally meet on Tuesdays… Then look at who all was there, most of the Cabinet and ALLAK…why would this kind of high powered Iraqi group need to meet for what a committee was doing…hmmmmmm…is your interest perked up yet…they are considering the LL (long line) IMO…and IMO…they seem to be getting obstacles out of the way…What for…getting ready for implementation of things…investments …companies and countries coming in…this is HUGE IMO…simply HUGE…it’s pointing us towards good things to come…IMO.
Read more: http://www.dinarupdates.com/observer
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Stratfor Strategies current Kurdish Analysis
After several weeks of meetings, the major Kurdish parties — the Kurdistan Democratic Party (KDP), the Patriotic Union of Kurdistan (PUK) and the Gorran Movement — have made a breakthrough in negotiations. The meeting Sept. 12 was the first trilateral intra-Kurdish political meeting in two years, and the groups seem to be in the final stages of agreement on several key points that make up the seven-point agreement they are negotiating. Even though the Iraqi Kurdish parties seem to have finally hashed out a partial agreement, there are many more negotiations ahead. And it remains to be seen whether this breakthrough will be enough to overcome opposition to the Kurdistan independence referendum.
The KDP, PUK and Gorran have basically reached agreement on seven loose principles. Agreement on the principles could pave the way for holding on Sept. 25 the Kurdish independence referendum — to which all parties have tacitly agreed to adhere to. The seven-point agreement will also help in reactivating the Kurdistan Regional Government (KRG) parliament — which has been shuttered for two years following violent altercations and political infighting between the Kurdish parties. The seven-point agreement also creates space for future negotiations over sticking points such as salaries for government employees, laws that govern how the president is appointed, and the distribution and oversight of Kurdistan’s energy resources. And, despite some elements of the PUK wavering in their support of the KDP, the KDP and PUK have at least partially aligned with one another over the last couple of weeks. But other groups continue to oppose the independence referendum.
The Gorran and smaller Kurdish parties like the Islamic Group have been barriers to intra-Kurdish negotiations on how to move forward with the independence referendum. Gorran as a party developed partly as an opposition movement against KDP and PUK hegemony over Iraqi-Kurdish affairs, and it will likely remain a spoiler as negotiation over the seven-point agreement continues.
The Iraqi National Assembly in Baghdad wasted no time Sept. 12 in strongly rejecting the referendum by approving a non-binding resolution authorizing Iraqi Prime Minister Haider al-Abadi to do anything necessary to maintain Iraqi unity. By including Kirkuk and other disputed areas in the referendum, the Kurds have united Iraq’s Sunni leaders and the mostly Shiite Popular Mobilization Units against the referendum. For these groups, Kirkuk and the disputed areas are part of Iraq and their inclusion threatens to spark conflict within the country again.
Other regional powers also remain strongly opposed to the referendum’s implementation. It has been rumored that the head of the Turkish National Intelligence Organization will go to Arbil soon to try and persuade KRG President Massoud Barzani against the referendum, while Iran has sent Islamic Revolutionary Guard Corps Quds Force Commander Qasem Soleimani to do the same. The chief of the Arab League also paid a visit. Even the White House has released a statement opposing the referendum and Brett McGurk, special presidential envoy for the global coalition to defeat the Islamic State — is visiting the KRG in the coming days to likely push for keeping the referendum from taking place.
Still, because of today’s accord, there is momentum toward the goal of reactivating the KRG parliament on Sept. 14. (Stratfor sources estimate it will be Sept. 16.) If the parliament actually convenes later this week, the chances of the independence referendum happening are even greater. Even so, reconvening the parliament will also give these Kurdish parties yet another theater in which to negotiate and argue over the seven point agreement that has been tentatively hashed out.
Courtesy: https://worldview.stratfor.com/
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Kaperoni (Dinar Guru) – “The CBI has also requested the technical assistance of the IMF Legal and Monetary and Capital Markets Department to analyze the reasons behind the rise of the exchange rate spread” …in the last Article IV dated last month, the CBI had requested the UST and the IMF to help them get in compliance…that gives me hope they can get in compliance… and once they do, they will accept Article VIII, which will open the banking system to the world, allowing international investment, etc. So if that occurs, we may see such an effect by end of year. I do believe it is well documented that the world wants to come to Iraq and invest. If, Iraq could ever set the stage, by that meaning pass the laws, get the banking system in order, they have the potential for billions of dollars in private investment. So hang in there.
Read more: http://www.dinarupdates.com/observer
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Push to hunt corrupt officials uproots grave phenomenon in Iraq
Hunting corrupt officials has raised concerns of Iraq’s political elite amid a push to eliminate corruption and fraud in the country. This move can affect high-ranking officials whose fear has exacerbated after leaks unveiling that US investigators are tracking down corrupt Iraqi officials.
While Baghdad is steeped in a series of high-profile investigations into alleged corruption by officials, the Iraqi people is following up the turning point in dealing with this thorny issue. As this move comes after the country’s political elite has buried sensitive documents that can criminalize them for over 14 years.
Hunting corrupt officials can put an end to Iran’s agents in Iraq, who want to undermine the country by spreading chronic corruption and terrorism in the country, observers told The Baghdad Post.
Iraq ranks 166st out of 176 nations in Transparency International’s Corruption Index.
Corruption in Iraq is tied to chronically weak accountability and murky governance.
Estimates of how much goes missing vary from $100 billion lost since 2003 to $20 billion in 2013. One Iraqi government official put total money lost to corruption as high as $300 billion.
Push to eliminate corruption
However, Late in August, it was reported Late in August that Iraq’s anti-corruption court issued 26 jail sentences to high-profile Iraqi politicians. The sentences ranged from six months to 15 years.
Among the prominent names the former defense minister Hazim al-Shalan was sentenced to 13 years in jail as well as Mohsin Shlash, the former minister of electricity for seven years. Abdel Amir Baker Khathim, the general manager of the department of finance, was sentenced to 15 years in prison.
The former minister of agriculture, Sawsan al-Sharifi was also convicted of graft charges and sentenced to five years in prison, while former transport director general Faisal Naji Malo was jailed for seven years.
Other sentences include former ministers of oil, trade, youth and sport.
Last month, a final judgment has been issued convicting former finance minister Hushyar Zebari and ordering confiscation of his movable and immovable property and his arrest over corruption charges
The Criminal Court of Integrity sentenced in July Ahmed Abdullah al-Jabouri, Salahuddin’s governor, to two-year imprisonment in two cases that had been filed against him,
A few weeks ago, Basra’s governor Majid al-Nasrawi stepped down and left for Iran after Iraq’s anti-corruption body began investigating graft allegations against him.
In July the head of the provincial council, Sabah al-Bazoni, was arrested and sacked after the watchdog accused him of taking bribes and misuse of power.
Graft has been a major concern in Iraq. Basra is also seen as the ultimate prize given its oil wealth and investment potential.
On Friday, former trade minister Abdul Falah al-Sudani was arrested in Lebanon, who fled the country in 2010 after being charged with stealing billions of dollars of subsidized food rations.
This confirms leaks of US investigators tracking down corrupt Iraqi officials as they have paid visits to Beirut, London and Dubai in an attempt to hunt officials and recover the stolen assets.
A corruption icon
According to observers, former prime minister Nouri al-Maliki is a corruption icon. During his tenure graft, fraud and bribes have become rampant in Iraq.
In 2015, it was reported that Maliki had reportedly siphoned off $500bn during his tenure between 2006 and 2014.
The Iraqi Commission of Integrity (CoI) has said nearly half of the government’s revenues during the eight-year period had been “stolen”.
This is the “the greatest political corruption scandal in history”, CoI’s spokesperson Adil Nouri told the Iraqi parliament at the time that as much as half a trillion dollar funds from the government’s coffers have systematically disappeared during al-Maliki’s tenure.
Nouri said the war-torn country’s oil income alone amounted to $800bn between 2006-2014. He added the Maliki administration also received aid amounting to $250bn from several countries including the US in these years.
Zayton al-Dulaimi, an Iraqi Forces Coalition MP, said the anti-corruption issue had been opened and will not be closed until all corrupt officials are held accountable. She noted in a press statement that many ministers had been questioned in the parliament, adding that the judicial system has issued rulings on many corruption cases in record time.
Those who fled the country cannot escape forever, she concluded.
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Where is the importance of Abadi’s visit to the United States?
Iraqi Prime Minister Haidar al-Abadi heads to the political capital of the world to meet with senior leaders and talk to them about the current developments in Iraq and the region, and the war on terror, which is almost closing to open the way for storms of another kind that hit the region and require political and security preparations and arrangements. And not to be alone in taking positions that would turn into nightmares as long as the owners have moved away from the coordination that has shown its usefulness during the past two years due to seriousness in the behavior that characterized the trends of the countries of the world and the region against terrorism and its supporters and financiers, conquer terrorist organizations, particularly the deadliest terrorist organization Daesh.
Abadi will attend the meetings of the General Assembly of the International Organization, which will be attended by senior leaders, especially from the industrialized and rich countries, and many countries that were partners to Baghdad in the face of terrorism, and helped train Iraqi forces, and provided weapons support and consultation in the many battles that broke the fork and urging him, The file of the reconstruction of the liberated cities will be the top files carried by Abadi to the presidents and senior leaders to know the possibility of participating in a major international effort to rehabilitate the affected cities, and resettlement of displaced persons, and provide financial support, food and health, and And it can not guarantee that unless it meets them and affirms the Iraqi need for urgent intervention in this file, not neglecting it and implementing the promises made by many countries.
Some call for the direction of Abbadi to Kirkuk, and send clear threats to Barzani to abandon his ambitions to conduct the referendum and this is not logical because it would lead to greater tension and ethnic tension reflected on the reality of Iraqi society, and damage the structure of society and the lives of ordinary people, And the meetings of New York will only be repeated in a matter of months. The opportunity to meet with the leaders will be a great loss that can not be compensated, in order to put points on the letters and put the leaders in front of their moral and humanitarian responsibilities. Bearing Iraq to be ignored, or Tsoevha, but Hawija are liberated inevitably, the search for the items are not in editing, but in the post-editing stage, with regard to Kirkuk, the Prime Minister was clear that the solution to their problem is through dialogue and negotiations, as well as the position on a Kurdistan referendum…
Read More: http://www.dinarupdates.com/showthread.php?54185-Abadi-addresses-the-world
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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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