Masoum calls for the unification of the Iraqi banking system to promote economic reality
President Fuad Masum called on Thursday for the unification of the Iraqi banking system in all parts of the country in order to promote economic reality.
“President Fuad Masum received at the Peace Palace in Baghdad on Thursday, the governor of the Central Bank Ali al-Aalak,” said a statement by the president of the republic.
“The meeting discussed the current monetary and financial situation and the need to modernize banking mechanisms and specialties in Iraq, taking advantage of the latest international technical data,” the statement said.
He stressed the infallibility of the central role of the Central Bank of Iraq in supporting partnership with foreign banks approved and facilitate transactions with local and foreign monetary institutions and strengthen its work within the country in accordance with the law and serve to accelerate the construction of a comprehensive and strong economic system.
Read more: http://www.dinarupdates.com/showthread.php?55658-Masoum-calls-for-the-unification-of-the-Iraqi-banking-system-to-promote-economic-real
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Disclosure of World Bank Conditions in the Financial Budget for 2018
A member of the Finance Committee, Hossam al-Aqabi, on Wednesday revealed some of the conditions of the World Bank, which was included by the government in the draft bill of the budget of 2018, noting that the government stressed the need to abide by these conditions.
“The draft law of the budget of 2018, sent by the government to parliament a few days ago, has obligations on the conditions of the World Bank and these obligations is the need to pay the government’s foreign and internal and confirmation of the commitment with rounds of licenses for companies operating in the oil fields,” he said. That “many of the observations of the World Bank did not see them because the meetings are held only between the government and the World Bank without the entry of the House of Representatives as a party in these meetings.”
He added that “there is a confirmation in the financial budget law on the commitment of ministries to collect their revenues concerned some fees and services as well as revenues obtained by the non-oil revenues, which are collected through taxes and customs.”
Read more: http://www.dinarupdates.com/showthread.php?55648-Disclosure-of-World-Bank-Conditions-in-the-Financial-Budget-for-2018
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Delta (Dinar Guru) – …it looks like for some reason they moved that celebration date we were all interested in last week at that time...It looks like they had stuff to finish and make sure everything was good…And moved it to this coming week…all these different countries are going to come down and…the big celebration is on Saturday…about 100 countries, other nations coming down so this is not only the liberation I do believe it’s all about timing…he makes that announcement that they are fully liberated then he is going to go into the economic and monetary reforms. Abadi…wants to show to the world…we’re done. And the nations are waiting for that…because remember the Prime Minister…the leader of a nation comes out internationally and gives basically that speech that will give more confidence for investors. …we don’t see any negative things…from the CBI…he said all the preparations are underway so when they make the decision it’s going to be easy to flip the switch and the numbers are right there internationally. So it’s all great and good information.
Read more: http://www.dinarupdates.com/observer/
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Adam Montana (Dinar Guru) – …over in Iraq, we have a little more news than usual this week! It’s being rumored (some confirmed sources, some… not so confirmed) that there is a legitimate push to introduce new currency notes, presumably in smaller denominations. That’s not something you do unless you can establish a need for those smaller notes, which of course requires a stronger exchange rate. The Budget is likely to be finalized in February. I know that’s an eternity for some of us, but that’s the buzz. Unfortunately, I have nothing to report on the HCL. I’m hearing rumors, but nothing confirmed..
Read more: http://www.dinarupdates.com/observer/
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Iraq signs an agreement with the European Union to finance the government’s efforts to reconstruct the areas
BAGHDAD (Reuters) – Iraq will sign an agreement on Wednesday to fund reconstruction efforts by the Iraqi government, financed by the European Union, the Ministry of Planning announced on Tuesday.
“The signing ceremony will take place at the headquarters of the Ministry of Planning at 9 am on Wednesday,” the ministry’s spokesman Abdul Zahra al-Hindawi said in a statement received by Iraq News.
He added that he “will sign the Iraqi side of the Minister of Planning Salman Jumaili and the European Union Ambassador of the Union in Iraq and will be followed by the signing of a press conference to explain the details of the agreement and the amounts and projects funded by”.
Read more: http://www.dinarupdates.com/showthread.php?55635-Iraq-signs-an-agreement-with-the-European-Union-to-finance-the-government-s-efforts
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G-Lin (Dinar Guru) – Article: “The Central Bank strengthens banks in local currencies of small groups” Quotes: “…the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading.” “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.” Is this the beginning of distribution of L.D.’s? If so, they did it last month. It just doesn’t make sense to me for CBI to go to the expense of printing 1000’s and 500’s based on today’s value unless they intend to give them a higher value. It cost more to print them than they are worth. Of course they wouldn’t tell us if they distributed anything smaller. That would tell us too much.
Read more: http://www.dinarupdates.com/observer/
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US Emphasizes Importance of Sound Banking System
US Ambassador to Iraq Douglas Silliman (pictured) has joined other distinguished guests and speakers at the Iraq Banking and Investment Summit on December 2.
The Ambassador spoke about the need to create economic opportunity for Iraq’s younger generation through a transition from a government-controlled, oil-based economy, toward a more diversified free market system that fosters and encourages private investment.
He noted the need to improve the ease of doing business in Iraq and emphasized that a sound banking system will be crucial to provide financing for aspiring entrepreneurs and business people.
Read more: http://www.dinarupdates.com/showthread.php?55630-US-emphasises-Importance-of-Sound-Banking-System
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G-Lin (Dinar Guru) – A well-informed political source reveals the “identity” of the two companies that the Abadi government contracted with to help fill corruption files... Article quote: “A source familiar with the political, on Sunday, that two companies are conducting the verification of files of corruption in Iraq since 2003. The source said in a press statement that ‘two companies, one American and one British are conducting the audit files corruption in Iraq since 2003 so far, and its task to detect corruption and identify the identities of those involved.” The investigation into the corruption cases is due to start on the basis of a memorandum of understanding signed by the Iraqi government with the United Nations. International investigators will assist the Iraqi government in uncovering the fate of Iraq’s $ 361 billion budget deficit between 2004 and 2014.
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – Article: “Expert for {morning}: 2018 will see a renaissance by making {in Iraq}” Quote: “the government has worked during the last term on the advancement of the industry through a partnership with the private sector, but the move has seen a delay because of the war on terror, but we hope to be activated during the next year” [2018 it is.] I dont like to get overly excited. This could take another 3-6 months before they get into Article VIII and begin to float. Nothing moves fast in Iraq. But we can hope.
Read more: http://www.dinarupdates.com/observer/
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Governor of the Central Bank of the first economic profile for 2017
*The support provided by the Central Bank to the national economy during the economic and financial crisis and the war on terror is a shining point and a successful experience of success in a country that is going through harsh conditions and a historical phase which is the most difficult to face the economic and security challenges that no country has experienced in the world during the last three years like Iraq.
As proved Mohsen Alalak, Governor of the Central Bank of Iraq and his team that they are Mujahideen of first-class in the promotion of economic steadfastness and achieve financial stability and financial victory. Through prudent efforts and measures and the applications of monetary policy and the development procedures of the Central Bank in the difficult economic stage of Iraq that they were able to draw a strategy for the years (2016-2020) and a clear roadmap goals and ambitions to stabilize the financial system and stimulate fiscal growth and financial inclusion and structural and institutional construction and investment Human capital through the achievements of its mission achieved during the years (2015-2017), the most prominent: maintain the inflation rate of not more than 2% and the level of foreign reserves within acceptable rates in accordance with international standards, where the reserve.
A foreigner to Iraq up to $ 47 billion and stimulate the banking sector regulatory and supervisory and supervisory and establish new units within the regulatory structures of banks such as compliance and combating money laundering and financing of terrorism and credit and operational risk management and the issuance of the law of money laundering 39 for 2017 and the development of payment systems and the application of all payments by retail and mobile phone and the establishment of the national division
Read more: http://www.dinarupdates.com/showthread.php?55629-Governor-of-the-Central-Bank-of-the-first-economic-profile-for-2017
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Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733
11/08 – Recorded Call Replay Link
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Abadi and Russian minister discuss expanding the participation of Russian companies in reconstruction and investment projects
Alsumaria News / Baghdad Prime Minister Haider al-Abadi and Russian Energy Minister Alexander Novak on Tuesday discussed bilateral relations between Baghdad and Moscow in five areas and ways to expand the participation of Russian companies in reconstruction and investment projects.
“The Prime Minister Haider al-Abadi received today, Russian Energy Minister Alexander Novak,” said Abbadi’s office in a statement received by Alsumaria News. “During the meeting, they discussed the development of bilateral relations between the two countries in the fields of energy, economy, trade, oil and electricity, Expanding the participation of Russian companies in reconstruction and investment projects. ”
“Novak congratulated the Iraqi victories on the terrorist gangs and stressed the position of his country supporting Iraq in various fields.”
Iraq is seeking to strengthen its relations with the countries of the world and specifically its regional environment, especially during its battle against the organization “Daash”. Abadi stressed on more than one occasion Iraq’s keenness to build good neighborly relations with the surrounding countries.
Read more: http://www.dinarupdates.com/showthread.php?55640-Abadi-and-Russian-minister-discuss-expanding-the-participation-of-Russian-companies
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G-Lin (Dinar Guru) – Abadi has a ridiculously tough job and I don’t think he can do it alone. Amal Clooney has appeared before the U.N. several times begging Abadi to sign a simple doc. that would open Iraq up to the I.C.C. and to my knowledge he has not cooperated yet. Parl. probably has him handcuffed. So frustrating. The I.C.C. has all of the docs. on Maliki and many more and interpol could issue arrest warrants immediately. Maliki and Barzani are too powerful and charges must be brought up in the international courts. Curtailing Iran’s influence is no easy task. I did read yesterday where Russia is giving some resistance to Iran and the Gulf summit will be held in Kuwait next week. Results of that summit may be fruitful
Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) – We all should know by now currency reform is a process. Currency reform like we want to see requires stability, implementation of technology, and planning. From what I am reading, progress has been made in recent weeks with the new CBI law, anti money laundering, electronic banking. But this takes time to implement and activate. Not to mention the CBI still has work to do to be in compliance with the IMF. The good news is the CBI is pushing forward on reforms, have banking events scheduled next month, next year. With all this known, hopefully we will see changes in the next few months to perpetuate the banking system and encourage investment
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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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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