Welcome to the Dinar Observer – Daily. For regular Dinar Updates, to see what the Dinar Gurus have to say, Dinar to USD listings, IQD and for Iraqi Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – whether you are a Dinar vet or just looking for a little current Dinar info – Welcome.
Word for the day…
Mrs. BGG
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1344.880 | 1344.207 |
| British pound | GBP | 1722.056 | 1721.195 |
| Canadian dollar | CAD | 931.075 | 930.610 |
| Swiss franc | CHF | 1227.924 | 1227.310 |
| Swedish krona | SEK | 145.699 | 145.626 |
| Norwegian krone | NOK | 146.095 | 146.022 |
| Danish krone | DKK | 180.850 | 180.760 |
| Japanese yen | JPY | 11.042 | 11.036 |
| Special Drawing Rights |
SDR | 1673.558 | 1672.722 |
http://www.cbi.iq/
Indicative rates – 06.10.2015
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A long habit of not thinking a thing wrong gives it a superficial appearance of being right. – Thomas Paine
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*** Current News ***
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Breitling (Dinar Guru) – …If I was to go to court and someone would say…”you said it [the dinar] was going to come out at a buck seventeen.” I’d say, No, I didn’t say that…the Iraqi Parliament said that. The CBI’s made those statements…I just followed it. “Well you said that it would come out after a while after they reduced the note count to a certain number that there target rate is $3.25.” I didn’t say that…The CBI made that statement. The Ministry of Planning made that statement. Parliament made that statement to the IMF when they asked if the IMF can help them regain their economy so they can get back to their original rate. That’s how you should play the game. There is no guessing…time frame is what we’re battling against. If you guys only knew you wouldn’t worry because it’s a reality thats coming down the road. None of this is based on hype.
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BGG (Dinar Guru) – [SIGR Report…THIS REPORT WAS SENT TO CONGRESS…(it appears to be from May of 2014). IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.] This is…from the “Special Inspector General for Iraq Reconstruction” – May 2014, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them. I point out this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now. Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″…This is PUBLISHED INFO FOLKS…NOT HEARSAY…
Correction – as I relayed, I was unsure about several details surrounding this report and it’s actual delivery. It appears it was delivered to the US Congress in May of 2012 – having been finalized and dated Apr 30th, 2012… then referred to again in 2013 as being delivered to the US Congress “last May”. BGG
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firefly (Dinar Guru) – Reuters Article: “Iraq plans deposit guarantee fund to curb cash stashing” Quote: “Iraq plans to set up a deposit guarantee fund to encourage Iraqis to use banking services and to develop the financial industry, the central bank said.” Reuters folks! A day after Iraq agreed to the requirements? WOW, WOW, WOW. We are looking at a position where everything is ready IMO.
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Aggiedad77 (Dinar Guru) – One by one the villages are being cleared of DAASH/ISIS elements…one by one the neighborhoods are being wiped clean of DAASH/ISIS presence…they have edited…they cleanse…they mop up…these steps will make it safe for the citizens to return to their homes once again…to new freedoms…to a new Iraq…it is happening right before our eyes…the evil dissolves and the good will hold strong and win…
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firefly (Dinar Guru) – Article quote: “...the financial advisor to the Prime Minister and the appearance of Mohammed Saleh revealed on 27 May 2016, that the amount of “international financial umbrella” will get Iraq estimated at approximately $20 billion, as called for economic and investment commission...” Got raised 20 billion …15 from IMF and 5 from WB…Very good news! Nothing else matters right now IMO but this loan as an indicator. The key IMO is when they tell us The 1st installment has begun.
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Aggiedad77 (Dinar Guru) – This June 15 date is at or near the 20 day extension the Iraqis were given on May 28…They have a specific time frame in which they are to approve the conditions that were given by the IMF…in fact we think they have already approved this conditions and they simply need to communicate that to the IMF…Frank [Guru Frank26] has mentioned that the CBI is working together now with the Finance Committee in Parliament …they are getting their ducks lined up to insure these loans become a reality…Keep focused on what is going on with Fallujah and Mosul as well though…they too are key events in all that is happening in Iraq right now.
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SIGR Report Recap (Flashback)…
THIS REPORT WAS SENT TO CONGRESS LAST MAY (it appears to be from May of 2012). IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.
We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This screen shot is from page 84 of the massive SIGR report.
BGG ~This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – May 2014, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
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I point out this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…
1) This is information given to the US CONGRESS on a quarterly basis (up until the end of July 2012 – the end of their mission in Iraq) … I find it hard to believe such a source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – no matter what Wells Fargo or other such naysayers gripe about.
2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.
3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki (during that era – Abadi now). Period. Historically – Maliki was a “weak Dinar” policy advocate.
4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″…
Read More: http://www.dinarupdates.com/blog/
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rcookie (Dinar Guru) – THE AGRICULTURAL & INDUSTRIAL DEVELOPMENT PROJECTS IN AND AROUND FALLUJAH WILL START AFTER LIBERATION…THE ECONOMIC REFORMS HAVE BEEN AND ARE BEING COMPLETED AND READY FOR ACTIVATION….(LOANS/INVESTMENT LAWS/REAL ESTATE & LAND PROGRAMS ETC…)
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Kaperoni (Dinar Guru) – Articles: “The formation of guarantee bank deposits, the company is a positive step” “The announcement of the founding of the company to guarantee deposits of banks with a capital of 100 billion dinars” Quote: “…the leader of the Supreme Islamic Iraqi Council, Adel Abdul Mahdi, to guarantee bank deposits proposed by the Central Bank with a capital of 100 billion dinars by the company, and approved by the Council of Ministers…” This is good news.
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tlm724 (Dinar Guru) – Article: “Currency market focus monopolistic central policy weighed on the dollar cut” Quote: “a bank the latest shock in market by addressing the monopoly and speculation and left after it cut through the exchange rates…” oh be sure to tell everyone you have control but you never exercised it…they coulda and shoulda fixed this long ago, the CBI is no place for incompetence… but now they have the IMF and WB working it… *hallelujah* …Really good article, explicitly speaking to rate stability. Great timing too imo.
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Bondlady (Dinar Guru) – Article: “Oil exports to America have tripled since January last” this is so important and significant for Iraq…during saddams peak of exporting oil…his top was 3 million barrels of oil per day…with a dinar exchange rate at that time was approximately 3 to 1... 3$ to 1 dinar…Wink. …granted the oil prices was a lil higher then but there over 50$ a barrel now, plus they no longer waste, burn off the gas now, they export it …the reforms are so important… to set Iraq back on the correct path for economic success..imo.
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The Exchange Rate of Foreign Currency in Economic Feasibility Studies
Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
Estimate the shadow price of foreign currency:
1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine….
Read More: http://www.dinarupdates.com/blog/
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wmawhite (Dinar Guru) – Article quote: “IRAQ LOOKING WITH EU FOR ASSISTANCE TO JOIN WORLD TRADE ORGANIZATION…” Any idea why it is the EU stepping forward to assist and not someone else? Look at where most of the investment is coming from to date into Iraq…the EU…The EU is biting at the bit ready to jump into Iraq. [Any idea how long WTO take to complete?] The WTO process is a multi year process…however, Iraq started it’s process over 10 years ago…They are near the end of the process. [Is it true their currency has to have some kind of value for Iraq to gain acceptance to the w.t.o?] it will be in Iraq’s benefit to trade with the IQD at its true value.
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rcookie (Dinar Guru) – THE NEWS SINCE MONDAY IS SMOKIN!! Article quote: “IRAQ LOOKING WITH EU FOR ASSISTANCE TO JOIN WORLD TRADE ORGANIZATION…” SO THE EU [EUROPEAN UNION] IS GOING TO WORK WITH THEM FOR FULL ACCESSION TO WTO…
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Aggiedad77 (Dinar Guru) – …Iraq is building…and the international world is coming…they seem to be attempting to be so transparent in what they are doing…Abadi is leading this new “dream” for Iraq….what a leader and commander he is turning into…seems “we” have done a great job coaching.
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rcookie (Dinar Guru) – …THINK ABOUT THE IMPORTANCE OF RE-ENGAGING THE OCCUPIED AREAS OF FALLUJAH AND MOSUL FULLY FOR IRAQS ECONOMY AND EQUALLY IMPORTANT FOR IRAQ TO ONCE FULLY LIBERATED…FINALLY START TO GET RAW…PURE ACCURATE ECONOMIC DATA REPORTING FROM THESE AREAS THAT WILL LEAD TO UNSKEWED FINANCIAL & ECONOMIC NUMBERS TOWARD… GDP…CPI..INFLATION… PRICING STABILITY ETC…FOR THE INT’L AGENCIES REPORTING THAT RELY ON THIS TIMELY…ACCURATE…TRANSPARENT DATE REPORTING….IT IS HUGE AND COMPLETELY WHAT THE IMF..WORLD BANK AND WTO MUST HAVE…
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Dinar Updates “Round Table” Call!!
“for Dinar News – that MATTERS!!”
from 6/09 – click-n-listen
Smart phone user link – Click here
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tlm724 (Dinar Guru) – Article: “Near the central announce the establishment of a deposit insurance corporation” Quote: “…the cabinet ‘s approval of the draft deposit guarantee system , which includes the establishment of the company contribute to encourage citizens to deposit their money in banks or government civil rather than keep them in their homes .” Cabinet held its regular meeting under the chairmanship of Prime Minister Dr. Haidar al-Abbadi. I get the impression it is already drafted and ready, a lot has been done in advance of launching several things during the last 10 days…in other words they get their ducks in a row prior to the announcement of launch (with the help of the IMF I am sure). they have known forever that it is a critical step in the banking reform, you can’t reform without money and you can’t get the needed liquidity to make it work unless the people make deposits…”crucial for when they move off of a dual currency regime” . I like that part Very Happy.
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SteveI (Dinar Guru) – […joining the WTO is great but my take on it is that it’s still a ways away as far as time is concerned. They are talking followup meeting in November if I remember right.] My guess…later this year. It will not be today or tomorrow or next week. Just the fact that it is in the works is very positive.
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rcookie (Dinar Guru) – Article: “Iraq looking with the European Union to join the World Trade Organization procedures” [for Iraq to join the WTO they have to have an INTERNATIONALLY TRADED CURRENCY and for that to happen they have to have a real rate.] AND THEY HAVE TO HAVE ACCEPTED ARTICLE VIII OBLIGATIONS!!
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tlm724 (Dinar Guru) – Article: “Iraq looking with the European Union to join the World Trade Organization procedures” Quote: “Confirmed the Ministry of Commerce, said Tuesday that Iraq needs a solid institutions recognized in the world as in some Arab countries, as discussed with the EU Commission to help Iraq to join the World Trade Organization.” I LOVE IT!! WTO full membership should be in Iraq’s relative near future, as they make the needed changes to the tax structure and continue on with reforms it only makes sense.
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Iraqi Dinar/Dollar auction (most recent listing) 06-09-16
Currency Auctions Announcement No. 3217
This daily currency auction was held in the Central Bank of Iraq on the 06-09-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 32 |
| Number of remittance companies | 18 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 142,409,372 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 142,409,372 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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SteveI (Dinar Guru) – Iraq’s willingness to do this says a lot for the goals and desires to get their economy moving again in the right direction and bring in new global investors. Iraq is really now between a rock and a hard place because they need to move off of dead center and show that this new government is united and finally stepping in the same direction for the good of their people. Their county has been beat up pretty bad by ISIS and operation recovery is on is way or has already started. Huge accomplishments so far. Excited, well almost, but extremely optimistic with this type of news. All of our guys here in the US and in Iraq are hearing positive things on a daily basis.The momentum sure seems to be going in the favor of Iraq now. Major accomplishments and huge strides are being achieved weekly.
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wmawhite (Dinar Guru) – [… where are we with the HCL?] IMO…the HCL is an…internal revenue issue with the GOI…and not a requirement for what the CBI will do internationally with the IQD.
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Frank26 (Dinar Guru) – …the IMF made it their business to tell the international world…which is you…because you invested…which is many countries because they have invested…in the first half of this coming 2016 we are going to take Iraq into the international world…and…that is what you are seeing everywhere…and there are loans poised to give to them…not so they could qualify for the international status…no…so they could qualify for a credit rating that allows them to enter into the international world…
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Iraqi Dinar/Dollar auction (most recent listing) 06-08-16
Currency Auctions Announcement No. 3216
This daily currency auction was held in the Central Bank of Iraq on the 06-08-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 19 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 142,317,265 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 142,317,265 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Poppy3 (Dinar Guru) – EVERYTHING THEY HAVE DONE SINCE JANUARY HAS BEEN DIRECTED TO MANAGING THE COMPLETION OF FINANCIAL REFORM. ABADI HAS CONTINUALLY PERFORMED AND DONE JUST WHAT HE HAS SAID. HE HAS REMOVED ROAD BLOCKS AND BUILT WHAT I THOUGHT I WOULD NEVER SEE AND THATS A TEAM OF DIFFERENT TRIBAL GROUPS PULLING TO BUILD IRAQ BACK TO HER GLORY…ONE STEP AT A TIME AND IT WILL AGAIN BE REFERRED TO AS THE FINANCIAL MECCA OF THE WORLD. YES I AM VERY ENCOURAGED AND IN GREAT ANTICIPATION OF SEEING THE NEW RATE PLACED ON THE DINAR BEFORE THE END OF THIS MONTH AS HE PUSHES FORWARD TO MEET THE IMF, WORLD BANK DEADLINE TO ENTER A GLOBAL MARKET ECONOMY.
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tlm724 (Dinar Guru) – Article quotes: “Iraq has become the world’s fastest-growing oil producer with output up 50 percent since it signed contracts worth tens of billions of dollars with the likes of Lukoil, BP, Exxon Mobil and Royal Dutch Shell at the end of the last decade to help develop its huge oilfields.” “We know about the IMF talks and we know that the IMF makes it conditional for Iraq to pay back the contractors,” Alekperov said. “We hope they pay back all debts by November so we can start a new investment cycle before the end of the year.” so we can start a new investment cycle before the end of the year, sweet! we aren’t the only ones with renewed hope from the IMF taking control, a huge oil company (Lukoil) also has hope as do MANY other investors!
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rcookie (Dinar Guru) – Article: “Parliamentary Economy: Conditions for international loans will improve the Iraqi economy” Quote: “borrowing Iraq from the IMF and World Bank , he will be subject to international standards and requirements...and that is important to raise the Iraqi economy in the event of the application of these requirements to the public and the private economy and be the level of the global economy.“ FINALLY SOME ACKNOWLEDGEMENT OF THE WB/IMF STRATEGY AS A FISCAL DISCIPLINE MODEL FOR IRAQ…
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Dinar Updates “Round Table” Call!!
“for Dinar News – that MATTERS!!”
from 6/07 – click-n-listen
Smart phone user link – Click here
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wmawhite (Dinar Guru) – What is easy to miss is that all of these different entity inside Iraq as well as outside are telling the world about all of this…the reemergence of Iraq into the “economy markets”...but, wasn’t this suppose to be a big secret? Answer…no…they want the world to know.
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wmawhite (Dinar Guru) – …PM Abadi stood in front of the G-7 and many others and told them that Iraq would join them on that stage…the world economic stage…I believe him and so do they…and they know he will not be on that stage with them at a value of $0.00086.
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Millionday (Dinar Guru) – Article quote: “…extensive talks between government officials and representatives from the World Bank , in a move to deepen cooperation and the search for the experiences and contributions of international and activating partnerships properly.” THE GOV IS PREPARING TO MOVE WITH BIDS AND CONTRACTS TO INVEST AND CREATE WORK. ABADI AND THE WORLD BANK PREPARING FOR A FORMAL OPEN OF THE DOORS FOR INVESTMENTS FOR IRAQ. Quote: “…the aim of the workshop is to gather all State capabilities and put them in an operational framework to deal with the theme of ” the expansion of private investment door…” THIS…IS THE MOVE TO ANNOUNCE THE FORMAL OPENING OF IRAQ’S INTERNATIONAL INVESTMENT AND THE LINK OF PRIVATE SECTOR LAUNCH. THEY ARE MOVING FORWARD — WHOOPOW.
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Iraqi Dinar/Dollar auction (most recent listing) 06-06-16
Currency Auctions Announcement No. 3214
This daily currency auction was held in the Central Bank of Iraq on the 06-06-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 29 |
| Number of remittance companies | 19 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 135,797,524 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 135,797,524 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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Shredd (Dinar Guru) – Article quote: “Sovereignty was confirmed by the government for its part will be faithful to its commitments under an agreement to prepare the credit program, which reached his recent between Iraq and the International Monetary Fund, which has contributed greatly to stimulate the donor countries to provide adequate support, and enhance the credibility of Iraq’s finance in the global financial markets and the rating agencies global credit.” We get a greater peek at the power of this and future loan agreements to Iraq. You may think them taking loans is a bad thing but not so. First, countries have faith in Iraq’s ability and intention to repay. Second, Iraq taking and repaying these loans will enhance their credit rating with the rating agencies. This will in turn allow them to lower interest rates and expand the pool of lenders in future loans. This is not a sign that Iraq is struggling and needs help. This is a sign that Iraq has matured to participate more in the global economic finance partnerships.
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mike (Dinar Guru) – Article: “Parliament: the signing of Iraq to loans require him to impose extra taxes on the citizens needed to be reviewed” So, in the middle of an economic crisis, what is Iraq doing and what are their plans? Implement tariff’s, initiate income tax, lower staff salaries and remove subsidies for fuel, and electricity (excluding the displaced). Not much of a plan if you’re a regular Iraqi, in fact, it’s terrible. They’re going to be the ones bearing the brunt of the economic mess Iraq’s in. At every turn they ignore the obvious actions that are needed to create an open market economy and add value to their currency and overall economy. …I haven’t seen a whisper about raising the value of the dinar, in fact, there are some calling for a devaluation to 1300-$1. Iraq has a long history of ignoring IMF instructions in 2005, the Paris Club and even their agreement with Kuwait.
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In the parliamentary finance by calling for the support of banks and activating the deposit law
{Baghdad} Euphrates News called the parliamentary finance committee member Ahmed Sarhan, the government to support banks and activate the deposit law for the purpose of revitalization of the banking sector and development of the country’s economy.
The MP said Sarhan Ahmed told {Euphrates News} ” The development of the banking sector in Iraq is through the government support for the banks, as well as the Central Bank and funding required amounts to be able to fulfill their duties to the fullest , ” noting that “this depends on the amount found in the reserve the central bank “…
Read More: http://www.dinarupdates.com/blog/
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wmawhite (Dinar Guru) – I am not one that believes in a floating to a true value…and why…because the economy of Iraq is already a 1,000 times stronger than what its currency value currently depicts…and the IQD is as strong or stronger than every other country in the Middle East…yet, the IQD is anywhere from a 1,000 times to 10,000 times less in value than all of those other countries.
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rcookie (Dinar Guru) – Article quote: “…CHAIRMAN FOR COMMITTEE ON ECONOMY & INVESTMENT BOLANIIN THE MEETING HELD…WITH THE GOAL BEING TO “SUMMON ALL STATE CAPACITY” AND PUT IN OPERATIONAL FRAMEWORK TO DEAL WITH THE THEME “THE EXPANSION OF PRIVATE INVESTMENT DOOR…” BOLANI TALKS ABOUT THE OVER 4000 PROJECTS STALLED VALUED AT $250 BILLION THAT IRAQ NOW WANTS TO ACTIVATE AT A PACE THAT WILL ATTRACT INVESTORS & INT’L PARTNERS…SO THEY ARE READY TO MOVE FROM AN IDEOLOGICAL PLANNING PHASE TO A REALITY OPERATIONAL PHASE!
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Parliament will hold an extraordinary meeting during Ramadan to complete the reshuffle and discuss other crises
Guessed decision House Deputy Imad yokhna special meeting during Ramadan, noting that this meeting be for reshuffle and discuss the situation in the country.Yokhna said that the meetings and dialogues between political blocs continues on political and security developments in the country,
Adding that the hearing will be for the purpose of the reshuffle and therefore be attended by lawmakers, including members of the Liberal bloc, noting that this meeting will be devoted to discuss the situation in the country, yokhna said that the meeting would be held after the decision of the Federal Court and enter the reform bloc, adding that after the decision of the Court can hold several extraordinary meetings to discuss specific topics.
BGG: So Jubouri wasn’t kidding – they will work during Ramadan – “Extraordinary session” – to get the reshuffle finished and work thru whatever decision the Fed Court hands down.
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Millionday (Dinar Guru) – Article quote: “…the decision of the House of Representatives held during the month of Ramadan, Ptdmnha vote on the cabinet reshuffle, saying that any response from the Federal Court on the appeal «reform front» will binding on all the political blocs.” THIS IS THE ANNOUNCEMENT OF THE CABINET VOTE GOING ON EVEN WITH RAMADAN. PARLIAMENT IS REQUIRED TO WORK DURING RAMADAN TO VOTE AND ATTEND THIS SPECIAL SESSION REQUIRED MANDATED BY ABADI… WHOOOPOW.
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Poppy3 (Dinar Guru) – REMEMBER…ABADI SAID MONTHS AGO THAT ISIS, DASSH ETC SECURITY WOULD NOT DELAY OR PREVENT COMPLETION OF FINANCIAL REFORM AND IT DOES APPEAR HE HAS KEPT HIS WORD TO THE PEOPLE OF IRAQ AND TO US.
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Iraq PM Abadi urges lawmakers to stop squabbling, rally behind army
Iraq’s Prime Minister Haider al-Abadi (front 2nd L) walks during his visit to an Iraqi army base in Camp Tariq near Falluja, Iraq, June 1, 2016. REUTERS/ALAA AL-MARJANI
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Iraqi Prime Minister Haider al-Abadi has appealed to politicians to “freeze” their wrangling over his anti-corruption reforms and unite behind the army as it battles Islamic State in Falluja, near Baghdad.
Abadi has been grappling with a political crisis since February and has been unable to rally the main blocs in parliament to back an anti-corruption plan that includes a cabinet reshuffle.
He ordered the offensive on Falluja on May 22, after the political crisis degenerated into deadly street violence in and near to Baghdad’s heavily fortified Green Zone, and a series of bombings, claimed by Islamic State, hit Shi’ite districts of the city.
“I appeal (to the politicians) to freeze all differences until the land is freed,” he said on state TV late on Wednesday during a visit to the army’s front line near Falluja, 50 kilometers (32 miles) west of Baghdad.
“Daesh is the ultimate corruption and whoever prevents us from fighting Daesh is corrupt,” he added, referring to the ultra-hardline Sunni group by one of its Arabic acronyms…
Read More: Dinarupdates.com/blog/
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Frank26 (Dinar Guru) – […do you have any thoughts on if Mosul will take about the same time to plant the flag as Fallujah?] Understand…YOU seek MOSUL because we taught You this. We do not..for it was over TWO MONTHS ago…that…It was over. IMO…There is no doubt the RV is coming just don’t know when…
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wmawhite (Dinar Guru) – Article: “Provide transparency by adopting the digital economy” Quote: “…that Iraq sought market Securities for the application of modern systems for the success of the deployment of trading directly on global sites…” seriously? going to trade on global sites with most of their shares at 1 and 2 dinar per share…No way! …and yet…what did they just tell the world… “TRADING DIRECTLY ON THE GLOBAL SITES” You could sit at home and buy up every remaining share of the ISX for less than a few thousand dollars…unless the value of those shares change before hand. If you owned a bank would you offer shares of your bank to the world at less than $0.01? The one entity rarely spoken about…the ISX, quietly positioning itself…AS WE WERE JUST TOLD…to “TRADING DIRECTLY ON THE GLOBAL SITES” …”why is the ISX making all of these preparation to join the world trading platforms and have not done so yet?” IMO…the answer lies in the…value of the IQD…because that is what the shares are traded in…IQD. they have all of the infrastructure and operational systems in place…IMO. IMO, the ISX is waiting on the CBI and GOI.
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rcookie (Dinar Guru) – Article quote: “Insurance is a central nerve between the three pillars of the financial sector, a bank, insurance, stock market…” THE NARRATIVE OF THE INSURANCE SECTOR RECENTLY IS IN OVERDRIVE….HERE TALKING ABOUT THE ROLE INSURANCE PLAYS IN INSTILLING CONFIDENCE IN THE BANKING AND STOCK MARKET SECTORS AND ATTRACTING INT’L DEVELOPMENT & INVESTMENT THAT WILL DRIVE IRAQ ECONOMY…THERE WAS NOT A SNOWBALLS CHANCE IN BAGHDAD OF ACQUIRING AND CAPTURING INT’L BUSINESS & INVESTMENT WITHOUT A COMPLETELY REVAMPED PRIVATE SECTOR INSURANCE INDUSTRY IN THE MARKET TO QUELL THE LACK OF CONFIDENCE OF BEING IN BED AND DOING BUSINESS THROUGH THE STATE RUN INSURANCE SYSTEM…NOT A MOLECULAR CHANCE!
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Urgent Cabinet approves the Supreme Judicial Council Act
{Baghdad: Euphrates News} cabinet today approved the draft of the Supreme Judicial Council Act, which Dqgah the State Consultative Council.
A source in the council told {Euphrates News} “The Council approved the referred the bill to the House of Representatives based on the provisions of Articles {61 / I and item 80 / item II} of the Constitution, taking into consideration ray General Secretariat of the Council of Ministers ..itba ..
Read More: http://www.dinarupdates.com/showthread.php?35243-Urgent-Cabinet-approves-the-Supreme-Judicial-Council-Act
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Poppy3 (Dinar Guru) – …I ASSURE FALLUJAH IS FREE OF ISIS IN ANY NUMBERS…THE BAGDAD FLAG FLYING. [betcha Mosul is also all but done?] IT IS ALL BUT DONE…IN FACT REPORTS YESTERDAY THAT THE BAGDAD FLAG WAS RAN UP YESTERDAY AFTERNOON BY ABADI HIMSELF. WE ARE WAITING FOR THE NEW RATE THAT APPEARS WE WILL SEE LATER THIS MONTH AS THE IMF, WORLD BANK SAID.
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Millionday (Dinar Guru) – THIS IS TALKING ABOUT THE SHARES BEING ACCESSIBLE BY ALL AND REMEMBER THIS WOULD INCLUDE THE LARGEST PRODUCT THEY HAVE ON THE GLOBAL MARKET>>>IRAQ’S CURRENCY…MACRO ECONOMICS. SO INTERNATIONAL ACCOUNTING STANDARDS WOULD BE APPLIED…WHOOPOW. THIS WOULD APPLY THE INTERNATIONAL EQUATION THAT PUSHES THE VALUES THAT THE MARKET REFLECTS — FOR INSTANCE — OUR VALUES AND COST OF LIVING REFLECT THE CONSTANT MOVING MARKET AND THE STOCK MARKET ETC. NO DATE IS GIVEN BUT — THE FACT THAT THIS IS READY TO BE APPLIED IS NEWS IN ITSELF. [post 2 of 2]
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Millionday (Dinar Guru) – Article quote: “…that Iraq sought market Securities for the application of modern systems for the success of the deployment of trading directly on global sites will serve as a magnet for investment indirect factor and enhances the performance of the market.” THEY FEEL AS THOUGH IT IS TIME TO INITIATE ALL ELECTRONIC BANKING AND ECONOMICS – THIS WILL INCLUDE OF COURSE THE ISX AND INTERNATIONAL INVESTORS…IT WOULD HELP MINIMIZE CORRUPTION DUE TO ACCOUNTABILITY. IN MAY THEY SIGNED TO BRING THE ISX TO THE MARKET AS INTERNATIONALLY ACCESSIBLE. [post 1 of 2….stay tuned]
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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SteveI (Dinar Guru) – Will this be our month is anyone’s guess but the pressure is mounting daily for Iraq to get their act together and start complying with global standards. Doing this Iraq’s way can only go on for so long. Now you have the IMF breathing down their backs and the citizens continued pressure.
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BGG (Dinar Guru) – Article: “…Parliament will hold an extraordinary meeting during Ramadan to complete the reshuffle and discuss other crises” So Jubouri wasn’t kidding – they will work during Ramadan – “Extraordinary session” – to get the reshuffle finished and work thru whatever decision the Fed Court hands down.
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rcookie (Dinar Guru) – …IN SPITE OF ALL REPORTS CONFIRMING KURDS SHARE OF LOANS AT 17% PER 2016 BUDGET LAW CONSTITUTION…THE WB STEADFAST ABOUT KURD COMMITMENT TO DELIVERING THEIR OIL SHARE DUES…ELIMINATING STAFF REDUNDANCY AND MAKING THE SAME BUDGET CUT MANDATES THE GOI HAS ALREADY DONE…AND WILL COMPLETE FURTHER IN ORDER TO RECEIVE THE SBA LOANS…BIG SHOCK KURDS…NO MORE COOKING THE BOOKS AND GAME PLAYING…THERE ARE MANY INT’L PANELS OF AUDITORS THERE OVERSEEING…AND THE BANKING OVERSIGHT & REGULATION WILL GET EVEN TIGHTER NOW THAT CBI WILL BE IN ERBIL AND OVERSEEING ALL BANKING SECTOR…NO MORE 14 SEPARATE BANKS THEY CAN FUNNEL THEIR OIL SALES THROUGH TO HIDE…TRANSPARENCY…ACCOUNTABILITY….AND THE UST IS THERE AS A BACKDROP…AND THAT ALL STEMS FROM THE WB AUDIT AND REVIEW BACK IN NOVEMBER WHERE THE WB REP CAME OUT AND SPANKED KURDS SAYING THEY NEEDED TO GET THEIR FINANCIAL & ECONOMIC HOUSE IN ORDER…
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