World Bank: Iraq is the best place to invest in the world

The International Finance Corporation (IFC), the private sector arm of the World Bank, has urged international companies to overcome their concerns about financing reconstruction projects in Iraq and capitalize on high-yielding investment opportunities there.

“As the country emerges from a devastating three-year war against ISIS, I do not think anywhere in the world there are such opportunities for investment,” said Ziad Bader, head of the International Finance Corporation’s mission in Iraq, in a speech at Kuwait Chamber of Commerce and Industry.

“IFC has investments of about $ 1.2 billion in various projects in Iraq, including banks, cement factories and telecommunications companies, and is preparing to announce an investment of $ 250 million in a telecommunications project,” he said.

Read More: http://www.dinarupdates.com/showthread.php?56255-World-Bank-Iraq-is-the-best-place-to-invest-in-the-world
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Central Bank of Iraq Auctions $193,912,578 on 13 February 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on February 13 registered $193,912,578 in sales, a -1.82% volume decline from the US $197,498,160 sold by Iraqi Dinar, credit and transfer at the previous auction held on February 12.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on February 13 compared to the previous auction.

Data for the February 13 auction was made public by CBI Announcement Number 3634.

Dollar sales in the in the period January 1, 2018 to February 13, 2018 saw an increase of -1% compared to the sales of US $4.62 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.81 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Read More: http://www.dinarupdates.com/showthread.php?56257-Central-Bank-of-Iraq-Auctions-193-912-578-on-13-February-2018&p=181210#post181210
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mike (Dinar Guru) –  Article:  “Corruption, bureaucracy and armed practices threaten 157 Iraqi projects at the donor conference”   Parliament just passed a law protecting those in government from prosecution for corruption, their timing couldn’t have been worse. I realize the west doesn’t want to leave Iraq vulnerable to Iran’s influence, but at this point, Iraq is in Iran’s back pocket, losing them to Iran has already happened. These folks can’t even agree on a 2018 budget, how can they expect the world to donate billions when they can’t even balance their own checkbook?  The world has stood up and done everything it can to help this country…  These guys have got to put on their big boy pants and act like they care about the country and its citizens, if they don’t, the world won’t. IMO.
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The @IraqiGovt is implementing reforms

Follow us on twitter @DinarUpdates !!

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Mnt Goat (Dinar Guru) –   Article quote:  “THE BUDGET WILL CONTINUE AFTER THE COMPLETION OF THE SECOND READING IN PARLIAMENT, WHICH WAS SUPPOSED TO BE READ IN YESTERDAY’S SESSION, BUT BECAUSE OF THE ABSENCE OF A LEGAL QUORUM WAS NOT PUT ON THE AGENDA OF THE MEETING”   …I want to emphasize that no budget – no RV.   Just saying is there a connection?
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Mnt Goat (Dinar Guru) –   Appears that a company…will sell you gold and silver and allow you to pay for it in dinar (much below market prices given). Really? To me this is WOW news and confirms to us all that the dinar is very valuable and is in demand or will be shortly in very high demand…
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BGG (Dinar Guru) –  Article:  “Speaker Jabouri calls 2018 Iraqi budget bill ‘unconstitutional,’ rejects to pass it”  Quote:  “…Salim al-Jabouri said the parliament will not approve cutting the salaries of civil servants.”   IMHO, this has very little to do with the actual budget they are trying to get passed and much more about political alliances being developed for the upcoming elections.  Seriously?!? Jabouri cares at all about the KRG share?? No. I think not.  All part of the process – it will happen.
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 sandyf (Dinar Guru) –   I get the impression that many perceive currency coding as nothing more than window dressing, nothing could be further from the truth. Currency codes are the backbone of all financial systems. Every computerized accounting software operates on a base currency and once set that currency code cannot be altered. When a country needs to introduce a new currency, the code must first be issued by the ISO, accounting software needs to be amended and a new set of accounts created in the new currency. This is why I often remind people that a redenomination cannot happen overnight nor in secret. One thing you can be sure of is that Iraq, or any other country is not going to be introducing a new currency anytime soon. It should be noted that the introduction of alternative denominations is an addition to an existing currency and not a new currency.
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Aggiedad77 (Dinar Guru) –   He [Abadi] is an integrally smart man who is also learning new chess moves IMO from a MASTER…T…and he is about to put Iraq on the roadmap of the world in so many ways…the term “MECCA” won’t even be able to fit in Iraq when he is done IMO…expansion like we’ve never seen before IMO…it is all good…and it is all coming…IMO in a way that you would least expect it to…there are major pieces in this this game that dance to their own rules and are not used to being told no or used to delays…I look for no more delays, no more excuses…”the time is now”…
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Tilerson begins a regional tour of Iraq reconstruction conference

US Secretary of State Rex Tilerson will start a tour of the Middle East as part of the reconstruction of Iraq’s reconstruction conference, which will start in Turkey and will include Lebanon, Jordan, Egypt and a Gulf state.

US Ambassador to Kuwait Laurence Silverman revealed the participation of his country’s foreign minister, Rex Talerson, at the Iraq reconstruction conference, to be launched on February 12, which will be preceded by the ministerial meeting of 74 countries to combat terrorism.

The official opening of the conference will be on February 14 in the presence of the Kuwaiti Emir and Prime Minister Haider al-Abadi.

“Secretary of State Rex Tillerson will leave early next week for a tour of the Iraq reconstruction conference, which will be hosted by Kuwait and will cover regional capitals,” the State Department said.

The Turkish daily Yeni Shafak said that “next Tuesday, US Secretary of State Rex Talerson will visit Ankara and will be preceded by his national security adviser Herbert McMaster.”

“The US State Department confirmed that” Telersson will participate in the Kuwait Conference, which starts on Monday and will last for two days and ends Wednesday, without revealing the remaining stations of his tour. ”

Al-Hayat newspaper quoted Western diplomatic sources as saying that he expected to visit Cairo, Amman and Beirut in the same round, noting that the dates and procedures of the visit are still under preparation. Beirut will be the first minister in the Trump administration.

Read more:  http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) –  Article:  “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018”   Quote:  “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.” “In addition to its results and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on its actual contribution to GDP and its contribution to sustainable development and its transition from the role of banking to the developmental role.”  This is a very clear statement for those looking for an overnight RV, it ain’t happening.  This means they are sticking with sound monetary policies that will improve the value of the dinar as the GDP improves.  In other words, as investment comes into Iraq, the dinar will rise in value.  Which from everything else we have read, appears to be some kind of float.
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Mnt Goat (Dinar Guru) –   So the BIG question is this – is there a new plan to stock the US Reserves with Iraqi dinar and use it to pay off the National Debt after its revaluation?  Well one thing we do know for sure is the Iraqi dinar will have a very substantial revaluation unlike the initial re-instatement of the Kuwaiti dinar. We know this from knowing about the process to “delete the zeros”.   In fact the Kuwaiti dinar never really did revalue, it only rose in rate (not value) due to the float on FOREX and pure speculation. It then came back to reality…   [post 1 of 2….stay tuned]
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Mnt Goat (Dinar Guru) –   I am positive there is some plan to do something and use some of this to pay off debt if nothing else in part to use it for the deficit negotiations…   Can they balance the deficit? Trump will look like a hero if they can and do it without closing down the govt again.  As the US is not doing all this work in Iraq to just fight terrorism.  I do not know all the details nor will I pretend to know. We shall all find out after the fact. This is all information that, if you tie it all together, points to the near completion of the project to delete the zeros and eventual revaluation of the Iraqi dinar. This what we are looking for. This is our TARGET!  [post 2 of 2]
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Frank26 (Dinar Guru) –   Article:   “Al-Nasiri: Central Bank aims to build a solid banking sector in 2018”   Quotes:  “Central Bank’s adoption of standards and controls conforms to the requirements of international standards and the basic and subsidiary objectives of its strategy until 2020 and to activate and consolidate new visions of monetary policy applications,,,”;   “…the Central Bank has introduced new policies and visions and mechanisms of smooth implementation, but it is monitored and followed up on a daily and accurate basis inside and outside Iraq in order to achieve the above economic goals and strengthen international banking relations with the international banks in order to serve our national economy and the banking sector.”  YOU NEED TO READ THIS WITH THE HEART OF A STUDENT OF YOUR INVESTMENT…THIS IS THE MAIN SOURCE…DO NOT WALK BY THIS…”ARTICLE”.
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sandyf (Dinar Guru) –   There seems to be some confusion between the availability of IQD at banks and forex, the two are not directly related. There are many levels of forex and all Art 14 currencies can be traded without being available at banks. International banks will normally only deal in Art 8 currencies but may do so at their own risk. It is Art 8 that guarantees redemption by the central bank. Around here there are a few local Art 14 currencies and they are all available at banks because the foreign nationals are present in the country.
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Frank26 (Dinar Guru) –   IMO ON MONDAY IN KW…THE LL (long line) DOES NOT SEEK A BUDGET FROM A…BUT MORE SO AN EXPLANATION OF…IRAQ’S CURRENCY!  [Of course they aren’t going to talk about their budget, who cares about that! I would want to know about the laws that are going to protect me, how I am going to exchange my currency while doing business, the banking laws that will protect my company & my contracts, the transfers, payments, insurances … the who, what, why and how about everything IQD.]   YES…YOU ARE NOW…GETTING THE TRUE PICTURE OF…THE KW CONF!!!
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Sources: away from the Kurds National Alliance and the Union of forces agree to pass the budget

Sources – away from the Kurds National Alliance and the Union of forces agree to pass the budget Parliamentary sources confirmed that the National Alliance in the House of Representatives, reaching an agreement with the Union of forces to pass the budget without the Kurds who oppose the proportion allocated to them in the budget, while likely to move Kurdish budget without counting the proportion of 17% of the region, threatening to take steps to escalate.

“The majority of the deputies of the National Alliance agreed with the Union of Forces to pass the budget away from the Kurds as they continue to object to the proportion of the province in the budget law,” he said, adding that ” The Kurds withdrew from the session of parliament, which saw the second reading of the budget, but their withdrawal did not affect the reading because it has not been put to the vote yet.

The source, who did not disclose his name, said that “the Kurds stand against the vote on the budget and their insistence on the previous proportion of the budget for the region 17%,” pointing out that “the budget today was built on the basis of population ratios in addition to that many cities and regions need funds Great for their reconstruction. ”

For his part, MP MP from the Patriotic Union of Kurdistan, Peston Zankana, pass the budget without counting the percentage demanded by the Kurds and threatened political escalation if the National Alliance and the Union of Forces implemented the scenario they agreed upon.

Read more:  http://www.dinarupdates.com/blog/
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Mnt Goat (Dinar Guru) –   Okay so where are we now in the investment?   …I did dig deeper and found that the rollout is being stalled due to two items:  First issue are the mandates to pay the salaries, retirees and pensions and to be all caught up in reoccurring debt.  Second is budgetary issues. They need to resolve these issues including the Article 140 issues with Kurdistan. We know that the KRG is the main reason why the budget is not being passed. So they already had a reading of the budget. The Iraqi Euphrates reports that the legal committee confirmed that parliament will complete the second reading of the budget during the meeting on Sunday, while pointing out that the proposed vote will be after four days.  [post 1 of 2….stay tuned]
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Mnt Goat (Dinar Guru) –   So are they targeting to have the FOREX rates out before this Kuwaiti Donor Conference? I am being told they had targeted for this weeks ago and so this is why they are rushing the budget now before parliament. The conference runs from Feb 12th thru Feb 14th. If you look at the recent news and look at the date there is no way they are going to have this budget passed before the Donor Conference. So I do not believe this will have any impact on getting the RV any sooner…it is looking like maybe by the end of next week, at the earliest.  [post 2 of 2]
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Frank26 (Dinar Guru) –   IN TEAM CHAT…I GAVE …3 POWERFUL THINGS TO CONSIDER…THEN ONE FINAL ONE.   FOR THE REST OF KONA…  […Can you give us a hint…please!]   …IMO…IT’S NOT THAT THEY THINK NOR CONSIDER THE RI….IT IS THAT THEY DO IT.  OUR TEAMS HAVE NOTICED A NEW PATTERN WITH AMERICAN BANKS:  MANY OF THE “FOUR” ARE SENDING THEIR CUSTOMERS NEW PROCEDURES ON FOREIGN CURRENCY TRANSFERS…VIA WIRING OR JUST ABOUT THEIR ACCOUNTS.  IF THIS WAS JUST ON ”CURRENCIES” …THEN THAT WOULD BE NORMAL…BUT…THEY TARGET “FOREIGN CURRENCIES”!   ALSO…BANK ANNOUNCEMENTS ARE NORMALLY DONE AT THE START OF A YEAR…NOT IN THE MIDDLE OF FEBRUARY IMO.  …NEW ATTITUDE.
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Chattels (Dinar Guru) –    I was asked whether I thought that the rate, impliedly ” new rate ” was in the budget.  I seriously doubt that any increase in the value of the dinar is going to be forecast in / by the budget.   …there is a discernable rate / value to the dinar evinced in the budget. That value in my time has always been the current value of the dinar.  The budget is a months long process. Is Iraq going to announce an increase in the value of the dinar in their draft budget? I don’t think so.
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Former minister: $ 500 billion will return to the state by applying the law “Where do you get this”

Baghdad – Mawazine News – Former Minister of Water Resources Mohsen Al-Shammari revealed that 500 billion dollars will be returned to the State Treasury in the event that a law is applied where you come from (better translated “Where did you get this”).

The House of Representatives on Saturday, during the session of the House of Representatives first reading of the proposed law on graft “Where you get this.”

“Former Minister of Water Resources Mohsen al-Shammari, it is likely to recover 500 billion dollars to the state treasury if the law applies” Where do you get this? “…

Read More: http://www.dinarupdates.com/blog/

BGG ~ 500 Billion USD is an awful lot of money… especially when you consider Iraq is only asking for 100 Billion for their COMPLETE rebuilding process. 

This is the size and scope of their corruption problem. This bill will be a problem. Everyone voting on it is crooked. Kinda’ like trying to get term limits passed here.

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G-Lin (Dinar Guru) –   Article:  “Financial Advisor-Abadi: the agreement with the IMF is forcing the Government to “observe”   Quote:  “Saleh noted…another important thing is the Conference Kuwait, how Iraq can go to a Of the Conference and communicate with the donor countries and is not able to adopt balanced? This is a very negative signal for this budget must be authenticated before Kuwait Conference».”    Wow…So the IMF is still keeping their foot on Iraq’s neck. Is this saying they need to get their budget in place before Kuwait Conderence? Iraq may very well walk away from this conference empty handed. The west wants assurances…
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Kaperoni (Dinar Guru) –  Article:  “Financial expert for “Economy News”: Rising oil prices helped lower dollar exchange rates”  Quote:  “The witness exchange rates declined significantly, as the dollar exchange rate in local markets reached this day, to 123.750 dinars per $ 100.”  Sounds like the spread is going down. 1237 to $1.”    [...Needs to be around 1202 to begin 90 day IMF compliance, I think?]   Once they are in compliance it will be interesting to see if the IMF makes them wait the 90 days. We may see a concession on the time. 
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Stryker (Dinar Guru) –  Topics  “Parliamentary Finance: Things are moving quickly towards the adoption of the budget”; “Masoum stresses Iraq’s urgent need for a solid and open economy“;  “Economist reveals the future of the dollar exchange rate in local markets“   …Things are starting to heat up for Iraq; it’s time for action in the form of implementation and less talk!!!
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Kaperoni (Dinar Guru) –   Article:  “Kuwait is considering converting Iraq’s compensation to the projects and investments”  [If they settle it this way it could be 1 step closer to article VIII.]   Not related…   Article VIII is based on monetary policy and the IMF.   If Kuwait agrees to such a thing the benefit would be with the United Nations Security Council closing the reparations file and any subsequent resolutions. 

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Masoum stresses Iraq’s urgent need for a solid and open economy

{Baghdad: Al-Furat News} President Fuad Masum, stressed the urgent need of Iraq to build a solid economy.

“The great victory that our people have achieved on the organization of the terrorist advocate has strengthened Iraq’s regional and international standing,” Masoum said during a speech at a conference of ambassadors and heads of missions in Iraq held by the Foreign Ministry on Friday, adding that international respect for Iraq’s strategic status as a force of terrorism Because it gives him a valuable opportunity to strengthen and multiply the possibilities of progress and construction and achieve security and peace. ”…

Read More: http://www.dinarupdates.com/blog/
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mike (Dinar Guru) –   Article:  “Washington reaffirms its support for the Iraqi economy”   Iraq’s leadership just don’t get it, the US is ready and chomping at the bit to get the TIFA side of the the project moving and all Iraq has to do is pass the legislation for the banks and the economy and get out of the way. But they don’t and then complain about it. We’re not going to: “give a signal to US companies that Iraq is open for business.”It’s not true, Iraq still has some heavy lifting to do before the country is open for outside investment. Property rights, business ownership, the currency, the banks and the economy are not attractive to US investment on a large scale if it doesn’t pertain to oil, it’s just too risky. Your move Abadi.
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G-Lin (Dinar Guru) –   Article:  “CBI Signature of the deposit guarantee company”   Quote:  “In accordance with the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, “the contract of establishment of the bank deposit guarantee company was signed with the founding body“.   This is CBI taking action on a law that was already in place. I have to assume that by the signing of this Doc between the banks and the company providing the insurance for the deposits, this was implemented today. Very much like our FDIC. This is huge news. Investors and the public will now feel safer with their money in the banks. Iraq needed to do this before the Kuwait extravaganza and also it will pull that mattress money out of hiding.
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Enorrste (Dinar Guru) –   Article:  “Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks”   I sense that the IMF is still in the background pushing Iraq forward slowly.  Like KAP  I’m reluctant to get too excited until we see this actually implemented and deposits start to flow into the banks.
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Adam Montana (Dinar Guru) –   Not sure if anyone noticed, but this has been a great week for Dinar. I know, the price didn’t move. We’re not at our “Post RV” destination right now, and that’s a bummer for some people. But let’s get real… back to the basics. Did you see anything BAD about IQD this week? I didn’t think so. How many weeks in a row is it possible that I can say that? More importantly… how many weeks in a row can that be said without something breaking?!!   We’re close. It’s only a matter of time, a practice in patience, and some sweet sweet victory soon…It’s going to happen, and no amount of analyzation or hypothesizing on my part will change it.
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Special for change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Quoting the channel of change .. Abadi of parliament: the international community will not help Iraq if the budget is not approved

Altahreernews.com

BGG ~ Oh wow. We’ll this pretty much spells it out. However, keep in mind – this is likely Abadi talking TO his Parliament, urging them to adopt their budget.

When I initially started down this line of reasoning, I had no idea international sentiment was as tough as it appears to be. WOW!!

The UN, IMF and WB all appear to want to support Iraq in the worst way – but it also very much appears there are results that are yet required.

P.S. This might also explain this very direct, “hands on” push by Abadi to get the budget done.

We wait and watch.

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Kaperoni (Dinar Guru) –   Article:  “Financial expert for “Economy News”: Rising oil prices helped lower dollar exchange rates ” Sounds like the spread is going down.  1237 to $1.
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Chattels (Dinar Guru) –  A red letter day in Iraqi banking reform.   Article:  “Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks”   Quotes:   “It is expected that this company will play a major role in protecting the banking sector…”  “the company’s capital is 100 billion dinars, of which 55 billion dinars from government and private banks where the proportion of government banks 25% and private banks 30% and the remaining 45 billion dinars will be put for public subscription.”   [This is good news. Am I reading this right that the Deposit Insurance program’s funding is $84 million dollars, or 100 billion dollars?]   My read on the text is that it is 100 billion dinar (or 84 million dollars ?), of which 55 billion or 55 % is from the government (30%) and private banks (25%) and the remaining 45 billion (45%) will be sold to the public.
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MilitiaMan (Dinar Guru) –  Article:  “US Deputy Secretary of State: We are committed to Iraq with the strategic framework agreement”  Quote:  “Announced that the US State Department on Tuesday January 30, 2018, a summary of deputy Minister John Sullivan meetings in Iraq, as he stressed his country ‘s commitment to “strategic framework agreement” with Iraq, ”    Looks like they are sealing the deal for everyone to get the picture. They mean business. They didn’t do all this work for nothing. They are doing it all for the Foreign investors. They will need a trade-able international rate a PROVEN one… eos.
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Al-Alusi: Donor countries will not pay one dirham to a corrupt government

Special Mawazine News – Parliamentarian Mithal al-Alusi said on Tuesday that donor countries would not pay one dirham to a government accused of corruption.

“The donor countries can not be assured of their support at the donor conference to be held in Kuwait next month,” Alusi told Mawazine News.

“Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said.

“The states have informed the Iraqi government and politicians (we will not give you money because you are not trustworthy),” Alusi said.

The government has earlier announced efforts to coordinate with the Kuwaiti government to invite more than 70 countries to the donors conference scheduled to be held in Kuwait in February.

Source

Paul Moseley – “BGG YOU HIT THE NAIL ON THE HEAD”!!

BGG ~ Another accurate portrayal in the news. That is all. Thank you though 🙂

I have been talking the last however long about what Abadi needs to do along the lines of a real fight against corruption and why. Then I came out and did a fairly long dissertation on the matter. Some people didn’t like what I had to say… I only call it the way I see it. 

Then this came out today…

…”Those countries will not give Iraq a single dirham, because the government and the conservatives are accused of corruption,” he said…

This might explain the less-than-luke-warm response Abadi got while at Davos.

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BGG –  Article:  “Associated Press: Donor countries will ask Iraq guarantees not to go to corrupt money”  This is EXACTLY the case I have been laying out. Abadi is on a roll – but he needs to keep rolling!!
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mike (Dinar Guru) –   Article quote:  “…confirmed that Iraq imports 99 percent of its needs, indicating it is estimated at 50 billion dollars.”   Iraq is relying on the Balassa-Samuelson effect in order to slowly raise the value of the dinar that exports create. There won’t be any demand for the dinar if they don’t stop importing everything they consume and start creating their own goods.
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Angelquest (Dinar Guru) –   Article:  “Deputy: The government has completed the file of participation in the donor conference andthe budget must be passed before it is held. . the budget must be ready and voted before the conference”   Abadi hasn’t pushed the budget AT ALL – for Oct, Nov, Dec, Jan.. I think he’s ready… and that’s VERY VERY suspicious that he hasn’t.. which makes me think the rate is in it…and…I’m thinking he lowered the Kurds to 12% months ago – intentionally, possibly, just knowing the hoopla it would cause – such as no quorum, etc.. makes sense to me – cuz – he didn’t want that budget seen, or done, or voted yet.. so – tossed a wrench in it on purpose.
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Abadi’s war against corruption must begin with Maliki and his henchmen

Corruption is the most dangerous obstacle against Iraq’s development. As the country enjoys many natural resources like minerals and oil, the international community is concerned with Iraq’s high level of corruption.

Corruption in Iraq has caused severe poverty in Iraq, which led to civil and sectarian strife that caused the extreme damages to the country’s infrastructure.

Shia parties lead corruption…

Read More: http://www.dinarupdates.com/blog/
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Breitling (Dinar Guru) –  …If they can’t get it ladies and gentlemen, you’ll see this thing revalue overnight because they don’t have any other options.  If they get the $100 billion they’ll still revalue their currency but it’s going to be a different revaluation…the way they stage it.  It’s not going away so don’t panic…  They need to see if they can get the $100 billion dollars.  They need to see how low the oil prices are going to drop.  There is no “weeks” or special language you need to know.  They don’t even know…they don’t know what’s going to happen in the markets… [Post 2 of 2]
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mike (Dinar Guru) –   Article:  “The House of Representatives ends the first reading of the federal budget”   Quote:  “The Board completed the first reading of the draft law on the federal budget for the year 2018 for approval, after which decided to resume the session on Wednesday.”   Good stuff, on to the second reading.
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Breitling (Dinar Guru) –  If you look at Iraq…remember they keep the value of the currency where it’s at.  It’s one of the most manipulated currencies on the planet.  They’re trying to build their infrastructure cheap.  At the same time they’re trying to  build up their production of oil…there’s 100 Billion dollars worth of infrastructure they have to rebuild…Iraq sees they need to raise 100 Billion dollars…it’s a test.  They want to see if they can get it. [Post 1 of 2]
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BGG ~ When I first started hearing these reports out of Baghdad about this grand “war on corruption” Abadi has planned I was hopeful. I still am. However, there is much to consider. Far more than meets the eye. 

This push has been going on since before the end of the fight for Mosul. Abadi started laying out his agenda then. However, one article from last week caused me a little concern, it mentioned Abadi might wait until after the elections to go after “the whales of corruption” (or something along those lines) so it didn’t look like he was doing it for “electoral purposes”. This troubles me some. It seems like a tidy excuse.

The opinion article we lead with today somewhat seeks to goad him into this fight. It might even be hitting on a key point – “Is this all for show”? As in, “election cycle propaganda”. One question I have long had is, “why has it taken this long”? This is a fair point, I think. If Maliki is as corrupt as he is rumored to be, evidence cannot be in short supply…

Read More: http://www.dinarupdates.com/blog/
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Chattels (Dinar Guru) –  Article:  “The Central Bank of Iraq, announced its investment in the Chinese currency [Yuan].”  Quote: “The bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios, as well as the geographical distribution of the investments of this bank.”   The Central Bank of Iraq, announced its investment in the Chinese currency [Yuan].
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Kaperoni (Dinar Guru) –   Article:  “Washington and Baghdad have a common political and SBI establishes economic interests”   Quote:  “The meeting also emphasized the importance of the US-Iraqi economic relations and attracting foreign investment to Iraq and create new jobs.”   Here is a great example of Iraq asking for something that they are not ready for.  They need to get the banking system engaged with the world and get investors participating in the reconstruction.  Then and only then will these agreements succeed.
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Delta (Dinar Guru) –  …ONE OF IRAQI CHANNEL ON THE TICKER THEY SAID THAT CBI STRATGEY ON DINAR EXTERNAL EXCHANGE RATE IT WILL 1-1…WOW.   WE WILL SEE WHAT NEXT WEEK BRING US…

Be very cautious of this information…
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Abadi: They are on the process of rising the Iraqi economy and create jobs

Baghdad / Sky Press – Prime Minister Dr. Haidar al-Abadi said on his Facebook page, “They are coming to a process of rising the Iraqi economy and creating job opportunities.” He stressed that Iraq has become a great success story during a meeting in Davos with heads of the world’s largest investment companies and major investors in various fields to rally support for Iraq. Before the reconstruction conference in Kuwait.

A statement issued by the Prime Minister’s Office of Information, received by “Sky Press” today, that Abadi, during a meeting with the heads of the largest international investment companies and senior investors on the sidelines of the Forum “Davos” economic, Iraq’s vision for the future to develop all sectors and opportunities for large investment after the victory on the daisy, Indicating the importance of focusing on the reconstruction and stability of Iraq.

He explained that “Iraq has become a great success story achieved thanks to the unity of Iraqis, and we are on the way to the process of rising in the Iraqi economy and create jobs.”

Abadi arrived in Switzerland yesterday to participate in the economic forum “Davos” and to mobilize support for Iraq ahead of the reconstruction conference in Kuwait.

Source Link

BGG ~ FYI – Abadi has been the best thing that’s happened to Iraq in the last 2 decades. Is he perfect? No. Are they on track? More than you know. So relax.

From a different translation (same article)… Abadi: “…we are in the process of raising the Iraqi economy and create(ing) jobs…”

What exactly is this process he is speaking of? Does it include monetary and currency reform? I don’t see how it cannot – especially with the clear re-engagement of Iraq with the world markets.

With any luck Abadi will get a lot of credit for their peace and prosperity – Maliki and Barzani will get shut out on May 12th.

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Breitling (Dinar Guru) –  …Look what’s coming up in taxes…you are going to make more money off the dinar at whatever it revalues at because of the way the taxes are set up…you get the benefits that much more.  It’s a remarkable thing.   [Consult your financial and tax professional at the appropriate time.]
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Arthur (Dinar Guru) –  …Everyone wondering what the hold up could be… GOI + HCL = RV. The Government of Iraq (GOI) needs an official Hydrocarbon Law ( HCL) in the official Gazette. Abadi has established a 5% reduction for the Kurdish region. Only now have the Kurds finally agreed to this stipulation with future secret guarantees I am not at liberty to divulge. Leading up to mid February all will start to come into focus. Just remember: HCL = Having Liqiuid Currency.

BGG ~ I do not agree with ANY of this commentary…
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Mnt Goat (Dinar Guru) – …with my contact in the Central Bank.  Q: Doesn’t at some point the increase in value of the Iraqi dinar have to show up on the foreign exchanges (i.e. FOREX) in order to use the dinar internationally?  A: Yes, you are correct. I believe this also is moving forward and there is a plan to implement this measure very soon. Some day soon it will just appear as there is a date already set for this measure to occur.
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Mnt Goat (Dinar Guru) –    …we know the 2018 elections are forthcoming, probably in May. These always impact the political situation and so I believe this year will be no different.  We are also still waiting to see Article 140 law in parliament and to get this law passed and enacted. This is a huge contention for the KRG. I feel this would resolve a lot of the conflict with GOI. It could solve much of their differences. Could the USA reject the argument that Iraq is ready to re-instate their currency because of this Article 140 issue? Well…I know the US govt agreed already to let the RV go almost three weeks ago.
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G-Lin (Dinar Guru) –   Article:  “War: parliamentarians ‘ Union Act new authority to defend the House budget will cost burden”    Quote:  “Tariq Harb, jurist count Tuesday, approving House Parliamentarians Union law as creating new power system supervision and its mission to defend the rights of Parliament, while noting that the law governing Council members through subsequent parliamentary sessions, assured it would cost almoazanh New burdens.”   This looks like that protection law for the evil doers. I think it may give them permanent immunity. However, this may not effect ICC. Not sure. I wouldn’t think there would be any protection from International Courts. BTW Tariq Harb is Maliki’s personal legal council. 
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Aggiedad77 (Dinar Guru) –   NEWS ARTICLES…NEWS PICTURES…PHOTOS OF CURRENCY…NATIONAL BONDS…THE CBI IS LEAKING AGAIN…IMO…JUST A MATTER OF TIME BEFORE THEY TRIP UP AND RELEASE THE ARTICLES WE SEEK…ARE THEY FLOATING SOMEWHERE TO BE FOUND…
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Visit of the Governor of the Central Bank of Iraq Branch Basra

In his visit to the branch of Basra: Governor of the Central Bank confirms the continued support of the banking sector in all of Iraq

The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail visited with a delegation of advanced leaders in this bank branch of the Central Bank in the province of Basra, and the delegation was keen to meet the staff of the branch and discuss the most important organizational matters in the work of the branch.

The Governor praised the work of the branch staff, stressing that the Iraqi Central Bank support the banking sector working in Iraq.

Read More: http://www.dinarupdates.com/showthread.php?56048-Visit-of-the-Governor-of-the-Central-Bank-of-Iraq-Branch-Basra&p=180968#post180968

BGG ~ I am a little curious as to what the bill is that is pictured in this last shot? I have looked around some and can’t seem to come up with an ID on it.

(Update: according to Yahoo images, the note in question appears to be a 1947 10 Dinar note with King Faisal II on it. Probably some commemorative ceremony. Still interesting.)

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Kaperoni (Dinar Guru) –   Article:  “Officially .. the end of the “Daesh” militarily in Iraq”   Quote: “Announced the Iraqi Interior Minister Qasim al-Araji, on Friday, the end of the terrorist organization Daesh militarily in Iraq, after the liberation of the city of Rawah, western Anbar province from the grip of the entire organization.”  This is big news. The Iraqi gov can now move forward with the economy.
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tman23 (Dinar Guru) –   […is it your opinion that RV will NOT happen until KRG and GOI issues have been resolved?]  YES IMO…THERE MUST BE AN AGREEMENT TO BE UNDER FEDERAL CONTROL…The CBI needs the GOI to control and enforce certain laws and the Kurd region is just as corrupt as anywhere in Iraq...

Montana always claimed a HCL agreement must come first…What Abadi is proposing is signature to just that…BUT not so easy…remember the Kurds got 3 billion from Russia state oil company to prepay for oil…and there are a lot of these deals…this thing gets real messy…so Federal Control is most logical…

BGG ~ “…THERE MUST BE AN AGREEMENT TO BE UNDER…” Really?!? I think not.

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Ten conditions in front of Barzani for the settlement of things

Baghdad News – The federal government committed the delegation of the Kurdistan region, which came to Baghdad on Saturday under the chairmanship of the President of the region, Nigervan Barzani, ten conditions for the settlement of things between Baghdad and the region…

Read More: http://www.dinarupdates.com/blog/
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Chattels (Dinar Guru) –   Articles:  “Know the strategy of Maliki’s coalition to achieve the political majority in the next session”   “Rivals may team up to defeat Iraqi Prime Minister Abadi”   Another reason that a political alliance between Maliki and Barzani is dubious is that if the “possibility for an alliance with all political parties, including Barzani’s [KDP], …” depends upon a commitment to “the [will of the] political majority.”,   I doubt that the Kurds can / will so commit. The Kurds and other minorities value and depend upon the doctrine of consensus in government / legislation. Otherwise minorities will ultimately be overwhelmed by the Shia political majority, IMO. 
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Kaperoni (Dinar Guru) –   Article:  “Strengthen international confidence in Iraq’s economic capabilities”   IMO, there is no external confidence in Iraq’s banking system until the CBI is in Article VIII and dinar transactions are accepted worldwide through the global banking system. They can talk about all they want, but I don’t think investors will come if they cannot get there profits out of Iraq.  Iraq needs to understand this and begin currency reform.
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Follow us on twitter @DinarUpdates !!

Dinar Updates – BGG  & the NEWS
Jan 2oth –  Rec. Dinar News Call
641-715-3639 pin #932875

01/20- Recorded Call Replay Link

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G-Lin (Dinar Guru) -/span>   Article:  “Central Bank reserve adequacy ratio financial Iraq reached 160 percent.”   Quote:  “The governor of the Central Bank of Iraq Ali Alalak revealed, on Tuesday (December 26, 2017), that the bank reserves of foreign currency of 48 billion dollars, noting that Iraq will not resort to floating the currency.“  Looks like IMF is happy and once again they do not want to float the currency. That’s o.k. by me.
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Kaperoni (Dinar Guru) –   Article:   “Alaq announces the opening of a new branch of the central bank in Najaf ”   Quote:  “The governor of the Central Bank of Iraq Ali Alalak revealed, on Tuesday (December 26, 2017), that the bank reserves of foreign currency of 48 billion dollars, pointing out that Iraq will not resort to floating the currency.”   Until they get in compliance with the IMF and reduce the spread to 2% or less, I would assume any such discussion is a “stable dinar”. Eventually they will have to float to compensate for the pressure created by the influx of investment capital.
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Abadi directs a message to the Saudi king: This is what we need from you

The Ministry of Planning said Thursday that Prime Minister Haider Abadi sent a letter to King Salman bin Abdul Aziz.

Saudi King Salman bin Abdul Aziz received today Minister of Planning Salman Jumaili, who handed over to the Saudi king a written message from Prime Minister Haider al-Abbadi, during which he stressed the depth of brotherly relations between the two countries.

In his message to Saudi King, Abadi called on the Kingdom to support Iraq in the reconstruction of the liberated areas and achieve development, as Iraq needs about 100 billion dollars, and expressed the hope that the Saudi participation in the Kuwait Conference of donor countries, which will be held from 14-16 February next Size and strength of brotherly relations between the two countries, according to the statement.

For his part, King Salman stressed the Kingdom’s readiness to provide all kinds of support to Iraq and its help in reconstruction and reconstruction during the coming period. He called for redoubling joint efforts between the two countries to compensate missed opportunities and start a new phase that would make Iraq a model in sound development.

Read more:  http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) –   Article:  “The House of Representatives is preparing to vote on a bill to create a “new Parliamentary Union”  Quote:  “Parliamentary sources revealed, for parliamentary efforts to enact a new law that includes the establishment of a new Parliamentary Union…”  Any law must be approved by the Council of Ministers or the President prior to going to parliament for reading.  Unlikely such a law would make it past that step.  [reference Gurus mike and G-Lin posts 1-19-2018 below]
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mike (Dinar Guru) –   Article:  “The House of Representatives is preparing to vote on a bill to create a “new Parliamentary Union”   Quote:  “…seeks to defend the moral and material rights of members, reveals that this law opens a big door to protect any of the defendants in corruption cases and the form of legal stipulated in the Official Gazette, as well as for the protection of the rights of members mentioned and defend them if exposed…”   Apparently Abadi’s threats of going after those who are corrupt are spooking these guys, they’re trying to pass a law that protects the “rights” of those accused.  This is why things are moving so slowly in Iraq, the ruling elite are the most corrupt and now they’re trying to legislate corruption…
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Dinar Updates  –  Q & A Call  –  with BGG  Dec 27th –  8:00 pm Conference Call Phone # 641-715-3640 pin #932875

12/27 – Recorded Call Replay Link

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Adam Montana (Dinar Guru) –   I’m pretty sure we can all agree that we don’t expect Iraq to give us a warning that they will raise the value of their currency. This is just something we expect to see happen, based on their progress with Government, Banking, Stability, and Political situations. Since we don’t expect them to give us a “heads up”, it should be easy to understand that a major change in the value of the IQD would happen when the world is distracted… like, by a bloodbath in one of the hottest topics on the planet right now?  In case you live under a rock, I’ll explain – the cryptosphere is currently in meltdown mode. “Huge losses”, “Major crash”, “The End Of It All”! That’s what the media is screaming right now… and nobody is even paying attention to Iraq.   [post 1 of 2….stay tuned]
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Adam Montana (Dinar Guru) –   I’ll remind you that Iraq has a major share of one of the WORLD’s most valuable resources. They aren’t heavy into technology, but they are advanced enough that major international banking can be turned on with the flip of a switch. Over the last year, we’ve seen key institutions and organizations mention that Iraq is welcome to join the big boys…if they want. We’ve waited for them to do so, and IMO the key to this all is still the HCL.  Could this media-crypto-frenzy be a perfect time to slip some action in while heads are turned? We will see.  [post 2 of 2]
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World Bank: More than 600,000 employees in public companies are redundant

The World Bank announced that more than 600 thousand employees working in public companies surplus, stressing the need for partnership between the public and private sectors, describing the Iraqi economy as “central.”

The World Bank representative, Yara Salem, said in a research paper presented during her participation in the third series of workshops organized in partnership between the Baghdad Economic Forum and the Secretariat General of the Council of Ministers, reviewed by the “Economy News” that the World Bank emphasizes the importance of partnership between the private sector and the public , Pointing to the challenges facing the role of public companies in the partnership between the public and private sectors.

And signals that the Iraqi economy is a central economy and suffer from public companies in the cost of production is high and surplus in the workforce more than 600 thousand employees, about 60 percent of the surplus, as well as unemployment, which is a major problem in Iraq.

The existence of such proportions of the unemployed was seen as a major obstacle to reform and restructuring.

Read more:  http://www.dinarupdates.com/blog/
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The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

US Ambassador Douglas Seelman said his country will participate in a large delegation at the Kuwait Conference on Iraq Reconstruction scheduled for mid-February.
“The United States will participate with a large delegation at the conference to support the reconstruction of Iraq to be held in Kuwait,” Sileman said in a press statement during his visit to Karbala.

He noted that “this visit is the first of the province of Karbala and the US government looks forward to helping Iraq in the reconstruction after the defeat of ISIS.”
The conference is likely to be held in Kuwait from Feb. 12 to 14, with the participation of countries, organizations and companies.

The government estimated that it needed $ 100 billion to rebuild the devastated areas of the ISIS.

Read more:  http://www.dinarupdates.com/blog/
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G-Lin(Dinar Guru) –    Article:  “Governor of the Central Bank: Iraq’s financial situation continues to improve”   …I like this. “the bank’s reserve remains at the level of adequacy and covers the local currency and more.”
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MilitiaMan (Dinar Guru) –  Articles:  “Haidar financial transactions between the banks of Baghdad and the Kurdistan region have returned to normal”   “The MasterCard International has been issued at branches in Amman and Abu Dhabi for Iraqis living there to receive their financial dues,”...”   …the timing of the process is well underway to completion.Financial transactions between Baghdad and the Kurdistan region are back to normal. In other words are turned back on.  Don’t think for a moment “turned on” takes a lot of time to do so. It is instant now with the new Fintech in Iraq as noted by the CBIs capabilities.  [post 1 of 2….stay tuned]
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Guru MilitiaMan (Dinar Guru) –   …it is not just in Iraq that is possible, Al-Rafidain is flat out telling us they can do it in Beirut, Amman  and Abu Dhabi. They are internationally doing so.  That suggests if they can turn on Baghdad and the Kurd’s, then in Beirut, Amman and Abu Dhabi, they can probably pin point anyone they desire and anywhere. Digital is digital and with Block chain being in the loop, it is becoming easier to not only execute transactions, but, can be monitored with precision.  Let that sink in with all it’s implications. These two articles may not be the two we look for, but, boy are they full of Stars.. imo.   [post 2 of 2]
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Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation

Central Bank Governor Ali Al-Alak expressed his optimism on Monday about the country’s financial situation, which is improving continuously. “The financial situation in the country has begun to improve markedly because of high oil prices and fiscal discipline of the country, which is better than it was in the past,” he said.

“The state has great opportunities to improve control over government expenditures and increase non-oil revenues. There is still a step the government must take, but the financial commitment and discipline over the past period has been an important reason for the financial situation to be reversed,” he said.

He pointed out that “the position of the Central Bank during that period, which was working side by side with the government in order to overcome the embarrassing period that passed through Iraq.”

He pointed out that “the central bank’s reserves are good and in a state of mobility.” He pointed out that “the focus is on the level of adequacy of the reserve, according to the international standard for the local currency.

Read more:   http://www.dinarupdates.com/blog/
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US to participate in Kuwait’s conference for rebuilding Iraq

US Ambassador to Iraq Douglas Silliman has met with Basra governor Assad al-Edani in the governorate, media reports said on Friday.

In a press conference, Silliman confirmed that the US will participate in Kuwait International Conference for Reconstruction of Iraq, slated for February 12-14.

He said that the US will help the Iraqi government in encouraging the global companies to invest in Iraq.

Meanwhile, Edani said that he discussed with Silliman several issues, including the investment and unemployment in the governorate.

During his visit, Silliman will meet several religious minorities to celebrate the International Day of Freedom of worship.

Read more:  http://www.dinarupdates.com/blog/
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5.6 quake strikes Iran-Iraq border near Kurdish cities

ERBIL, Kurdistan Region – A 5.6 magnitude earthquake hit Iranian Kurdistan on Thursday near the Iraq border, where infrastructure is already weakened from a recent series of earthquakes and aftershocks.

GEOFON, the Global Seismic Network with seismic waveform monitoring data stations in Europe, the Mediterranean and Indian Ocean regions, had posted initital reports of a 5.5 magnitude earthquake striking at 9:59 a.m. (local time). The German-based research institute later confirmed the strength as 5.6, as well as a series of strong tremors which followed until 12:32 p.m.

Its epicenter was reported as 23 kilometers west of Mandali, a diverse border town in Diyala province that is home to Kurds, Turkmen and Arabs. Mandali is a Kurdistani or disputed area claimed by both Erbil and Baghdad.

Read more:  http://www.dinarupdates.com/blog/
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BGG  – Article:  “How to recognize the counterfeit Iraqi currency”   Here are a few obvious points…1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.  2) Dated today, the CBI decides to put a “how to spot fake currency” memo…3) Did  anyone happen to notice the last 3 notes? [referencing picture] I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.  WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!
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Adam Montana (Dinar Guru) –  Every morning I wake up and think to myself, “Is anything different or concerning about Iraq today?” As of this writing, the answer is NOPE! In fact, there is some positive news about Iraq’s banking industry being accepted and even praised for being top notch. This is imperative for Iraq to move forward with a supported raise in the value of their currency. Another thing I look for is the HCL. Are there any new reports? As of this morning, it’s been 6 months or so since we saw MAJOR movement on the HCL. With that said, it’s pretty easy to understand why we’re seeing such a lull in “things that indicate an RV”… What IS an issue right now is this – WHEN will we see some HCL news? Where is the progress?! Here’s something that’s a bit encouraging: I’m guessing that once that issue is resolved [Kurdish relations], we will see the HCL back on the table, and that’s when the dinar will see some urgency again.
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Abadi is investigating around 125 individuals accused of smuggling money abroad

Baghdad today – MP Jasim al-Bayati, the existence of 125 personalities accused of smuggling money out of the country, noting that Abadi investigated their files with international bodies two years ago.

“Prime Minister Haider al-Abbadi has been investigating with international bodies in bank accounts of 125 Iraqi figures with signs of smuggling money out of Iraq,” al-Bayati, who is close to the prime minister, told Baghdad today.

Al-Bayati added that “international bodies are working to gather information and have a sufficient database of the funds of these officials and inflated their funds in close periods.”

“The prime minister will give the database to the Iraqi Judicial Commission, which he set up for review, audit of funds and names, and external accounts.”

Read More: http://www.dinarupdates.com/showthread.php?55960-Abadi-is-investigating-around-125-individuals-accused-of-smuggling-money-abroad&p=180866#post180866
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MilitiaMan (Dinar Guru) –   Articles “Know Your Currency”  The article showing security features of their currency at this time frame is if not one of the two articles we seek, it sure is a contender for one of them, imo.!  For the 250, 500 and 1,000 note to be openly used by the CBI noted in the article for security features, is for a good reason that we all should see right out the gate…There is no reason to worry about those notes with present 1184 program rate, now add the international calculation into the mix and you have a very valid reason to make people aware for what they have and own…  And if one is a veteran in this investment, one better have had that on ones mind a long time ago! imo. It clearly is now (imo) a signal to every one that may own or will be using the new notes we expect in the near (Let’s hope immediate future.) future to be part of the quiver of currencies coming soon not to discard.  [post 1 of 2….stay tuned]
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Kaperoni (Dinar Guru) –   Articles:  “Know your money,” the central bank publishes security tags Iraqi currency”   “How to recognize the Iraqi currency counterfeit?”   “The central bank reveals security signs Iraqi currency to curb forgery”   This is interesting…why now?  In all the years I have been watching this I have only seen the CBI talk about note security maybe 2-3 times. In another article, we see the CBI talk about the “next period” going all electronic transactions, yet today they are telling citizens to make sure you are not using counterfeit currency.  IMO, since this is all over the local media, it appears to be something almost from the World Bank (like the delete zeros articles were back in 2012) to inform as many as possible.  Almost in anticipation of something.  Maybe the CBI plans to activate the banking system (deposit insurance,etc) in the next few weeks luring citizens to bring their dinar into the banks.  We just have to let it play out and see what happens.
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How to recognize the counterfeit Iraqi currency

[Ayna-Baghdad] The Central Bank of Iraq, issued a design illustration of the Iraqi currency the truth of the counterfeit.

BGG ~ Here are a few obvious points…

1) I find it a little curious all this recent “float vs. no-float” talk in the marketplace lately.

2) Dated today, the CBI decides to put a “how to spot fake currency” memo…

3) Did anyone happen to notice the last 3 notes? I had to go back to my currency and dig out these notes to figure out what they were. That is a 1k, a 500 Dinar and a 250 Dinar note.

WHY IN THE WORLD WOULD THE CBI BOTHER TELLING ANYONE HOW TO SPOT A FAKE 1K, 500 Dinar and 250 Dinar note?? The 1k is worth less than $1 right now… the 500 is about .50 and the 250 is not even worth a quarter!!

Read more:  http://www.dinarupdates.com/blog/

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MilitiaMan (Dinar Guru) –   Article:  “Central: We aim to complete all financial transactions electronically”    this is a very powerful… They start talking about sustainable development by using electronic payment systems. They are to be used by both Public and Private entities through Iraq’s Banking System as a whole.  They are telling us they have a system that is avoid of complexity issues, which appears to be the diminishing use of cash in Public and Private transactions and apparently large transactions to boot. They also LAUNCH or have launched the system to pay salaries…Which takes away the demand and or need for the use of cash, as much. The system is to be or is now from here on out to be more transparent and secure with out manipulation. A very good thing that fits Abadi’s agenda! imo  They go so far as to tell us they are able to do the aforementioned, all over the country now.  They are also or the central bank is the guarantor of salaries! All huge indicators developing, if not already developed and being LAUNCHED… imo
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G-Lin (Dinar Guru) –   Article:  “The President of the Republic, Fuad Masoum, on Thursday, the law of the second amendment to the law of the Central Bank of Iraq.”  [...if the CBI law is ratified does that mean it is law or does it have to be posted in the gazette for some time…?]    It is now in the Gazette and is law.   Quote:  “The law was sent for publication in the Official Gazette,” the statement said.”
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Kaperoni (Dinar Guru) –   Article:  “Businessmen, money, traders, industrialists and bankers calling for new criteria for the classification of banks in Iraq”   Deposit insurance and currency reform are a must.  Nobody is coming to invest until the CBI does these.
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Adam Montana (Dinar Guru) –   Going into 2018, perhaps this is a good opportunity to remind everyone WHY we are interested in the Dinar at all… some…have been here more than a couple years, and the “wait” can be taxing. Iraq has overcome incredible difficulties, rebuilt a decimated region, solidified a government, and STILL has a majority of the available reserves of OIL. That itself should be enough to give us confidence that even though we don’t know *when* the value will go up, it is certainly an undervalued instrument of exchange, and the low price will not stay there forever. Oil is finally on an uptick, which will work in Iraq’s favor.  In order to take advantage of that momentum, Iraq will need to get moving on HCL . There is no significant news out on the HCL as I write this today, but this is a matter that WILL come to the table, and when it does… snowball effect. …Going into 2018, I’m excited to see what pops up… either way, I’m happy HODLing my dinar and waiting for some HCL news. It can’t be too far off now!
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An Iraqi bank economy directs its branches to facilitate the issuance of the MasterCard international card to journalists

Al-Rafidain Bank branches in Baghdad and the provinces to facilitate the procedures of granting the MasterCard card International journalists.

The Bank’s Information Office said in a statement to the News Agency that the branches of the bank were instructed to issue the MasterCard card to journalists, pointing out that journalists can go to any branch and bring personal documents to issue the card to them shortly.

Read more:  http://www.dinarupdates.com/blog/
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Aggiedad77 (Dinar Guru) –  …THE IRAQI BALL IS STARTING TO ROLL RATHER CONSISTENTLY IMO…WHO HAS NOTICED OVER THE PAST 24-36 HOURS THAT ABADI HAS SPOKEN MORE AND MORE AND IT IS AS THOUGH HE IS POINTING TOWARDS A BRIGHT STAR…A STAR THAT LEADS IRAQ…AND IMO IT IS NOT IRAN…THEY HAVE THEIR OWN SELF-MADE TROUBLES…IRAQ IS RISING…ABADI IS WITHSTANDING ALL THE GARBAGE THROWN HIS WAY AND HE WILL LEAD HIS IRAQI CITIZENS INTO A NEW FUTURE…WAIT……WAIT…..WAIT…AS YOU WOULD FOR A FINE WINE…AS YOU WOULD FOR A PEACH TO RIPEN…AS YOU WOULD FOR THE COFFEE BEAN TO BE JUST RIGHT TO BE THE BEST…ABADI KNOWS THE PROCESS, WE MUST NOT HASTEN…INSTEAD PREPARE YOURSELF…
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BGG  –  There is a lot of news about this major private bank offering major ATM services.  This is very interesting.  There are lots of people talking about that there are lower denominations, this that and the other thing.  We don’t know that.  We have no facts to back that up.  We have no proof.  We’d like to see some proof.  I know it as fact that there was an article that kind of alluded to lower denoms but it’s not like that…they talked about the 500 notes and the 1000 notes.  I have no idea why they would do that it they didn’t have a value associated with that but they did talk about it and it is in an article…so that is the extent of lower denominations…there is no shred of proof that those ATMs are loaded with lower denoms.  When there is proof we will post it but right now there is no proof.
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Rafidain Bank launches an ATM service

Rafidain Bank announced on Friday the launch of the ATM service, which depends on the electronic payment card.

The Bank’s Information Office said in a statement that “the ATM service in force internationally depends on the electronic payment card such as MasterCard and other payment cards that facilitate the citizen to withdraw money in any place where it is.

The statement pointed out that ‘this step comes to reduce the theft of citizens.’

Read more:   http://www.dinarupdates.com/blog/
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BGG  –  There is a lot of news about this major private bank offering major ATM services.  This is very interesting.  There are lots of people talking about that there are lower denominations, this that and the other thing.  We don’t know that.  We have no facts to back that up.  We have no proof.  We’d like to see some proof.  I know it as fact that there was an article that kind of alluded to lower denoms but it’s not like that…they talked about the 500 notes and the 1000 notes.  I have no idea why they would do that it they didn’t have a value associated with that but they did talk about it and it is in an article…so that is the extent of lower denominations…there is no shred of proof that those ATMs are loaded with lower denoms.  When there is proof we will post it but right now there is no proof.
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Mr. White  –  …He then in turn gave the equivalent amount of IQD to the bank.  The bank went to the auction window with CBI.  The CBI sold dollars and the dollars were returned to the merchant.  The CBI turned around and sold IQD to the Government of Iraq, they had US dollars because they sold oil and it was this circle…the corruption just kept getting bigger and bigger.  But now for the first time in 14 years…Never never have they talked about ending the auctions…  [Post 2 of 3  All of this pertains to Guru BGG’s “cataclysmic” post below…]
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The Central Bank cancels letters of guarantee to exchange companies

Economy News Baghdad: The Central Bank of Iraq, the companies to mediate the sale and purchase of foreign currency need to deposit 100 million dinars instead of the letter of guarantee in its dealings with the Central Bank.

According to a document issued by the Central Bank and obtained by “Economy News”, “The Central Bank decided on the basis of the decision of the Board of Directors of exchange companies to deposit a hundred million dinars in the insurance account with the Central Bank instead of providing letters of guarantee.”

“The payment will be by notice of the payment system ( RTGS) of the same amount from the bank account with which these companies are working for the central bank,” the document said.

The document stated that the decision obligates the companies to complete this decision, ie the deposit of 100 million dinars at the end of January.

Read more:   http://www.dinarupdates.com/blog/
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Mr. White  –  …The auctions have been like the IV stuck inside the arm of the patient lying in bed since 2003.  Now they’re going to pull that IV out.  How in the world can they do that?  Unless that patient of Iraq can bring this stuff in…Do international commerce with something other than the auctions.  And the auctions only do one thing…puts dollars back into the street.  Back into the merchant.  Back into the banks.  Now they’re going to stop it.  I am excited about this.  I’ve been sitting on this stuff for the past 2, 3 or four months satisfied because I know what’s happening and now this… [Post 3 of 3  All of this pertains to Guru BGG’s “cataclysmic” post below…]
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BGG –  There is a ton of news…the news for the last 3 or 4 weeks has been absolutely spectacular…It is just huge. There’s 3 main veins of news lately.  1.  It’s about the Kurdish situation.  The whole thing seems to be coming to a head both politically, international pressure wise on the ground…i doubt this goes on much longer…and that’s going to be good for everybody.  2.  Investment and economic climate in Iraq.  this is the Key and is really really good stuff.  We are getting this in waves lately and we’re getting avalanched with this stuff.  I’ve never seen this before.  It’s very exciting for the future of Iraq.  3.  Fight against corruption.  There seems to be a very direct, immediate and through push to deal with their corruption issues.    Huge amounts of progress lately.  There is lots yet to be done but this is good news…
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Iraq once again Controls own Economy, Free of UN Sanctions

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invaded Kuwait 27 years ago.

The Iraqi Foreign Ministry said Dec. 9 the country had completed its obligations under the sanctions, which were imposed in 1990 when dictator Saddam Hussein invaded Kuwait. The UNSC levied the penalties after naming Iraq a threat to international security and ordered it to pay reparations to states and other parties that suffered as a result of the invasion.

Some 27 years later, Iraq is still suffering the effects of the invasion. Hisham al-Rukabi, the head of Vice President Nouri al-Maliki’s press office, told Al-Monitor that the Iraqi people welcomed the recent UN decision.

Saad al-Hadithi, the spokesman for Prime Minister Haider al-Abadi, said the move is “an important event in Iraq’s recent history and the closing of a painful [age] that lasted a long time, during which the Iraqi people suffered reduced sovereignty as well as political and economic sanctions that damaged the country’s institutions as well as individuals.”

Read more:  http://www.dinarupdates.com/blog/
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Randy Koonce (Dinar Guru) –  One more update to all citizens of Dinar Land.  And it is my deepest hope – this will be the last one.  It really should be The Last One.  If you have been keeping up with posts from other renowned Dinar Land Gurus (which everyone does!!) you should know that the news from Iraq right now is Phenomenal.  Stupendous.  Amazing…For what it may be worth to you, I wanted to let you know that my sources are echoing very positive news along with everyone else.  It looks like the window for a rate change should be wide open during the 1st two weeks of January.  And, that might even include this weekend.  Maybe…However – everyone who has been in this for a while knows the Dinar Land mantra:  It’s Iraq!!! [Post 1 of 2]

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Mr. White (Dinar Guru) –  …I think there is something within the last couple days that speaks volumes as to what’s coming down the road…there is something that came out in the news…that has not been spoken about at all since 2003.  In 2003 the provisional government set up the auction as we know it today for the purpose of giving the government of Iraq as well as it’s economy [the ability] to import goods from the outside. And the way they did that was they had to pay for goods with U.S. Dollars to bring this stuff in.  When a merchant paid in US dollars, say $500,000 to import rice or sugar, that guy went to the bank immediately and said I just used $500,000 of my US dollars I want it returned to me… [Post 1 of 3  All of this pertains to Guru BGG’s “cataclysmic” post below…]
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BGG (Dinar Guru) – This is the #1 piece of information being overlooked right now.  When they stop those auctions and they don’t say particularly when they’re going to do it next year.  I’d assume it happens fairly early in the new year…right after the first of the year.  Something cataclysmic is going to happen.  I’d assume they have some sort of a plan for that… [Stay tuned for Guru Mr. White’s explanation of what the auctions are, why they’re so significant and what had Guru Mr. White so excited…]
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Rafidain Bank launches an electronic ATM service

Al-Rafidain Bank announced on Wednesday the launch of the ATM service in Iraq through the adoption of electronic payment card (master card and other payment card) held by the citizen to withdraw his money in any place.

The bank’s information office said in a statement, “The opening of the international electronic bank service center to provide excellent banking services for citizens and employees for the purpose of withdrawing funds when needed.

“This step also limits the risk that various segments of citizens will be exposed to theft because the money they carry through this card will not be visible,” the office said.

Read more: http://www.dinarupdates.com/blog/

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Iraq reveals its reserves of hard currency

Iraq’s central bank governor Ali al-Alaq said on Tuesday that the bank’s reserves of foreign currency amounted to $ 48 billion, pointing out that Iraq will not resort to the currency.

“The central bank of foreign currency currently amounts to $ 48 billion,” al-Alak said in a statement Tuesday. He added that “Iraq, which is one of the oil states, has a fixed exchange rate, or fixed with flexibility, and does not have a fixed rate of return. in Iraq or other oil countries. ”

“The flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies.”

The floating currency is to make the exchange rate of this currency fully liberalized, so that the government or central bank does not interfere in determining it directly, but is automatically discharged in the currency market through the mechanism of supply and demand, which allows to determine the exchange rate of the national currency against foreign currencies.

Read more:   http://www.dinarupdates.com/blog/
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Iraq plans to extend a new pipeline to transport Kirkuk oil

The Ministry of Oil called on international companies to invest through the implementation of a project to extend a new pipeline for oil exports from the fields of Kirkuk to the Turkish border, according to an official statement. The statement quoted the spokesman of the Ministry of Oil Assem Jihad, “The oil projects company called on local and international companies to participate in the implementation of a pipeline project for oil exports from the fields of Kirkuk to the Iraqi-Turkish border.”

He added that “the pipeline length of 350 km and diameter of 48 knots and more than one million barrels per day.”

He explained that “the project is implemented in the form of investment, the investor company is spending on the project and then recover costs after the operation of the pipeline according to the time period agreed upon,” without further details. He pointed out that the contract requires a coalition of companies that will win the implementation of the project with the participation of local companies by not less than 25 percent.
The Oil Ministry set the twenty-fourth of January 2018, a deadline for submission of tenders, according to the spokesman.

Read more:   http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) – Having Iraq released from the restrictions of Chap. 7 was just HUGE!! And Parl. should be back on the 3rd of Jan. and we might see the added amendments to the budget that the Council of Ministers have been busy with. [See Ch7 Article below: 12-26-2017 Guru American Contractor]
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American Contractor (Dinar Guru) –   Article “Iraq once again controls own economy, free of UN sanctions.”  According to this article Iraq has free from all UN sanctions.  Previously until this article was written Iraq has always been under Ch. 7 sanctions.  Quote: “The United Nations Security Council (UNSC) has agreed to lift sanctions imposed on Iraq when the country invited Kuwait 26 years ago.  The Iraqi Foreign Minsister said Dec 9 the country had completed it’s obligations under the sanctions…Kuwaiti Oil Minister Essan Al-Marzouq said Dec. 10 that the 10 year deal with Iraq provides for imports of 50 million cubic feet of natural gas a day…later rising to 200 million.  The deal appears to have been the key factor that persuaded Kuwait to call for the UN to life the sanctions…Iraqi Parliament member Jassem Mohammad…’Before sanctions were lifted, Iraq was not even able to open foreign bank account in the name of the government…that cost the Iraqi Treasury enormously…”  [Post 1 of 2]
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Jubouri: the next stage towards economic stability

Transfer to the sons of Basra , thanks and appreciation of the liberated provinces of Baghdad / Saad Al- Samak stressed Chairman of the House of Representatives, Dr. Salim al – Jubouri, the need to speed up holding a real dialogue in which you can put up opportunities the solution and activate the mobility of the collective towards ending the crisis, praising the role of tribes in support of stability and limited arms in the hands of State And impose the prestige of the law and the protection of citizens, and called on the Council of Ministers to include a number of paragraphs in the draft financial budget for the year 2018. Jubouri, during a meeting with the local government in the province of Basra: In a statement to “morning”, “The Parliament at its next meeting will introduce the budget law on the Council to Rath first reading , “stressing that” the employees ‘ salaries for us a red line and should not affect. ”

“Terrorism, when it is defeated, has given us a new challenge: achieving reconstruction and stability,” the speaker said. “We can not lose sight of our youth to deprive them of terrorism or other areas of futility.”

Read more:  http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) –   Article:  “Central Bank: float the dinar is difficult to apply in Iraq”  Alaq is giving a progress report on the plans to open the currency to a float.  They have taken “a package of measures” to bring them to the point where a float will work. …Then he goes on to state that they are making efforts to achieve “financial inclusion” which I take to mean international acceptance of the dinar, now that the security and financial stability have been dealt with.  Finally, he concludes by stating that paying federal employees through bank deposits is working to get people to use the banks.  [post 1 of 2….stay tuned]
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Enorrste (Dinar Guru) –    The reason for the delay, in my view, is this last item.  Unless and until the CBI can get the dinars out from the mattresses they are cautious to begin the float.  In short, there are just too many dinars in circulation.  However, as they get people to move to banking they can remove the large notes from circulation and begin the float.  Therefore, I see this article as positive.  It is a report card only but points to a goal (the float) that is imminent.  I get to this conclusion because…it specifically is mentioned that Egypt moved to a float, but “too late.”  This would imply to me that the CBI is not going to be “too late” in moving forward, unlike Egypt.  [post 2 of 2]
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Washington and Baghdad are negotiating a long-term US presence in Iraq

The United States and Iraq have recently intensified their talks to keep a section of US troops permanently in the country following the expulsion of armed militants.

Both countries want to avoid repeating what happened in 2011, when US forces withdrew from Iraq after they successfully curbed al-Qaeda’s threat and reduced violence in the country. But three years after that withdrawal, the Iraqi army collapsed in the face of the march of armed militants.

According to US officials, who declined to be named because they were not authorized to speak publicly, the United States and Iraq have yet to decide on the size and composition of the force that would remain, which could change over time.

Read more: http://www.dinarupdates.com/blog/
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BGG (Dinar Guru) –   Article:  “Anti-Government protest continue for third day in some Kurdish cities”   These unfolding events are BIG NEWS…  Barzani’s “Old Guard” regime is on the verge of collapse.  Abadi has been plain in his efforts to protect and help ALL the people of Iraq.
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Kaperoni (Dinar Guru) –   Article:  “A new term Atdoual Iraqi banks and earns “millions” during hours without paying one penny”  Quote:  “the daily speculation carried out by traders across the volatile instruments affect the stability of the currency rate and the size of the cash reserves of foreign currency because the bank will cover the needs of Iraq Foreign trade, but these speculators use these reserves for the purpose of profit.”   So they either reduce the spread to 2% or less as required by the IMF or start the currency reform and float the currency so they can eliminate the dollar auctions.
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Anti-Government protest continue for third day in some Kurdish cities

6:36 p.m.

Kurdish health officials lower protest death count from 5 to 2

The KRG Ministry of Health and local officials have lowered the death casualty for Tuesday violent protests in the city of Raniya to two, down from five.

Taha Mohammed, spokesperson for the health department in Raniya, had told Rudaw on Tuesday that five people were killed and 80 more injured after the anti-government protests in Raniya, the capital city of Raparin Administration, northwest of Sulaimani.

He told Rudaw on Wednesday evening that they had “mistakenly calculated” the death casualties as their hospitals were overcrowded by dozens of injured protesters.

On Tuesday evening, the public hospital in the city recorded five deaths “three of whom died of normal conditions” unrelated to the protests. He added that only two died from the clashes on Tuesday.

Dr. Khals Qadir, the spokesperson for Kurdistan’s Ministry of Health, also told Rudaw on Wednesday that they have recorded only two cases of death from Tuesday’s protests.

Mohammed, from the Raniya health department, added that the number of injured has risen to 87 following fresh protests in Raniya on Wednesday…
Read More: http://www.dinarupdates.com/showthread.php?55809-Anti-Government-protest-continue-for-third-day-in-some-Kurdish-cities

BGG ~ These unfolding events are BIG NEWS… Barzani’s “Old Guard” regime is on the verge of collapse.  Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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Mike (Dinar Guru) –   Article:  “Identify obstacles to sustainable development and demand overcome them”  Quote:  “This conference aims to intensify and coordinate efforts between the Iraqi private sector on the one hand, and between the decision – makers in the House of Representatives and the executive representative of the government of the other side and the support and sponsorship of the International Project Center”   I like this guy and he seems to be headed in the right direction, let’s hope the GOI is listening and picks one task and fully accomplishes it and moves on to the next one. …Revamp the investment law. Provide guarantee’s on bank deposits. Move the dinar into Article VIII. Empower the open market economy. Before you know it, the west is investing in Iraq instead of handouts.
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Mnt Goat (Dinar Guru) –  …the CBI’s next move is to set the program rate to 1000 : 1 (dinars to US dollars) in early January. But this is not the kind of huge change we are waiting for. We need the 1:1. But this change in January will be a sign for us that the 1:1 is coming soon.
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Stryker (Dinar Guru) –   Breaking News:  Parliamentary finance raises the draft budget to the Presidency and we are waiting to set a date for approval…Ever Closer To The Finishline.
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Kaperoni (Dinar Guru) –   Article:  “External: one file and out of Iraq from the provisions of Chapter VII”   Whether its UN Chapter VI or VII, it’s pretty clear that the UN has some control over Iraq until the final balance to Kuwait is paid in full.  The good news is that they agreed to start paying again in 2018.  
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The resignation of the President of the Parliament of Kurdistan of Iraq and the withdrawal of two parties from the Government of the Territory

The news agency “Reuters” quoting party sources that the President of the Parliament of the Kurdistan region of Iraq, Yousef Mohammed, submitted his resignation.

On the other hand, the Movement for Change and the Kurdistan Islamic Group decided to withdraw from the Kurdistan Regional Government of Iraq.

The channel “Alsumaria” a leading member of the Movement for Change Karwan Hashim said that “the Change Movement and the Kurdistan Islamic Group decided to withdraw from the government of the region,” explaining that “the decision to withdraw also included the withdrawal of the President of the Kurdistan Regional Parliament Yusuf Mohammed from office.”

Hashem confirmed that the decision to withdraw was a joint, and was caused by “the neglect of the authorities of the many attempts by the Movement for Change for the implementation of reforms in the Kurdistan region.”

He added that “the movement of change will turn into an opposition force to press for changes and reforms” in the region, stressing that it “is planning to start a new phase of political action.”

The movement’s leader also announced that it had decided to suspend its agreement with the Patriotic Union of Kurdistan. He said that “the leadership of the Movement for Change decided in its meeting today to suspend its agreement with the Patriotic Union of Kurdistan,” and “against the backdrop of recent developments in the Kurdistan region.”

He added that “the citizens of the Kurdistan region will not bear the most current bad conditions,” pointing out that “the current government failed to manage the region and must leave.”

Read More: http://www.dinarupdates.com/showthread.php?55811-The-resignation-of-the-President-of-the-Parliament-of-Kurdistan-of-Iraq!!
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Kaperoni (Dinar Guru) –  Article:  “The document: a political entity address the Prime Minister officially .. and demanding the dismissal of the Governor of the Central Bank”   The one key thing with Alaq as he seems to have united his plans with the GOI.  Something that never would have occurred with Shabibi.  And I would think if those plans were not in the best interest of Iraq the IMF would have said something as they are present at the meeting, conferences and consultations.
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Enorrste (Dinar Guru) –   Article:  “Iraq replaces the confidence of the world economically”  It appears that Abadi is more positive about the banking situation in Iraq than he should be.  We have seen over the years that the banking system in Iraq was woefully deficient.  There have certainly been improvements made, but one factor that has not yet occurred is the movement of dinars from mattresses to banks.  Unless and until that occurs I fear that the economy will not take off and, more importantly, the CBI won’t be able to reduce the money supply allowing the value to rise.  Foreign investment will help but I doublt that it will be as aggressive initially as Abadi would like to believe.  This is like trying to move an ocean liner.  It starts out slowly and, as KAP [Guru Kaperoni] has noted, gains momentum.  But this is not a 100 yard dash.  It will take time, months at least, to see any significant change in the investment climate.  That’s my 2 cents worth.  I wish I were wrong, but I’ve been in this over 11 years and I can’t help but believe that Abadi’s hype is overstated.
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Senior Sunni scholars support Abadi’s push to fight corruption

The Iraqi Jurisprudence Council of Senior Scholars for Preaching and Fatwa declared Monday its support for the measures taken by Prime Minister Haider al-Abadi for fighting corruption.

In a statement, the council said a high-level delegation visited Najaf city on Saturday.

During the visit, Sunni scholars met with a number of Shia scholars.

The delegation has discussed many issues of concern to the Iraqi people, which will contribute to finding solutions to many problems at the present stage, the most significant of which is achieving unity and combating of extremist ideas, the statement read.

According to the statement, the Sunni delegation stressed that it stands by the Iraqi prime minister in his push to fight corruption and corrupt officials.

The visit is an important step in the joint cooperation between Sunni and Shia clergies to achieve peaceful coexistence, the statement added.

This comes after Abadi announced he will unveil a list of corrupt officials.

Read More:   http://www.dinarupdates.com/blog/
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Enorrste (Dinar Guru) –  Article:  “World Bank: ready for the advancement of the Iraqi economy”   I agree with KAP that the fact that this is being driven by the World Bank is very significant. In the past we have heard many times that “in the coming period” something may happen, but these were all from within the GOI or CBI.  The politics intervened and delays occurred.  However, with the World Bank behind this move it seems that we may finally begin to see some real economic growth in the country.  Obviously with that growth there will be a strengthening of the currency which should allow for the float to begin.  It could take several months, but at least we have one of the “big boys” behind this, finally.
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Kaperoni (Dinar Guru) –    Article:  “World Bank: ready for the advancement of the Iraqi economy”  This is another very important article. Since the World Bank is who was helping the CBI with currency reform, it appears they are on board now to get it done.  If you read previous delete zeros articles the World Bank was clear on the benefits and reason to restructor the currency. Seeing this article gives me hope that with the help of the WB, the project may start within a month or two.  Keep in mind, those same articles stated that it takes a long time ( I am speculating at a few years) to delete the zeros.
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Follow us on twitter @DinarUpdates !!

Dinar Updates  –  Q & A Call  –  with BGG from Dec 12th –  8:00 pm Conference Call Phone # 641-715-3639 pin #528733

12/12 – Recorded Call Replay Link

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Adam Montana (Dinar Guru) –  […do you have some good news about thé HCL?  RV?]    I wish I did right now! We’re in a little bit of a lull with the HCL, and I’m not sure when that lull will be over, but I AM certain that it will end soon.  All we can do right now is wait to hear some news. My guess is we should get HCL news within the next 6 weeks. It’s a topic that cannot be ignored forever, it’s something they NEED regardless of their currency value, and it is only going to benefit them.   I get torn on this next statement… I want to say “the sooner, the better!” But then I also like the sound of “The HIGHER, the better!”   With those words in mind, I usually decide it’s best if I exercise some of that virtue called “patience”, and I’m ok with letting it take a little longer if it’s going to be done right.
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MilitiaMan (Dinar Guru) –   Article:  “Iraqi bank receives international award”   Another indicator of significant progress or coming about international if you will. Setting up for to the final outcome imo.
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Mnt Goat (Dinar Guru) –   If you are paying attention to all the news…You should, and now be aware Iraq is on a very strong position to the final phases of the “project to delete the zeros”. The news could not get any better.  Last week Iraq delivered to us some amazing news. It was all news that we have been waiting for many years to receive. It is here now and we are moving forward at a faster pace.   We heard from the IMF, after the release from Chapter VII, that Iraq is now truly a “fully” sovereign nation…and can now freely deal with the international community…  …Iraq can now handle all its oil sales revenues directly.  [post 1 of 2….stay tuned]
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Jubouri and the Saudi Ambassador agree to activate the factors of economic and investment development

Baghdad / Al-Ghad Press: Speaker of the House of Representatives Saleem al-Jubouri and the Saudi ambassador on Saturday agreed on the necessity of activating the economic and investment development factors between the two countries, opening new horizons and opportunities for developing trade and Saudi Arabia playing an important role in the reconstruction of liberated areas…

Read more: http://www.dinarupdates.com/blog/
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The Central Bank strengthens banks in local currencies of small groups

Baghdad / Al-Ghad Press: Called the Central Bank of Iraq on the need to maintain the local currency, pointing to the strengthening of local banks in local currencies of small groups.

A source from the Central Bank of “Al-Ghad Press”, said on Tuesday that “the bank calls for the preservation of the local currency and the strengthening of banks with small groups of local currency,” pointing out that “the printing of the Iraqi currency and replace them cost amounts,” calling on citizens to maintain and maintain Bank notes when trading “.

He revealed that “the Central Bank has announced a tender for the printing of new banknotes (small categories) in the printing companies of the world.”

Read more:  http://www.dinarupdates.com/blog/
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Mnt Goat (Dinar Guru) –   We know ...currency auctions are killing the CBI reserves and must be halted due to corruption. These auctions limit the ability to trade and pay in Iraqi dinars…   We know last month that Iraq made trade agreements with boarding countries (Iran, Jordan, Saudi Arabia, Turkey and Iran) and to pay debts in their own currencies. Meaning Iraq is to pay in Dinars, Iran in Riyal, etc. Oh – but how can Iraq when they are restricted in these currency auctions to convert Iraqi IQD to USD and pay in US dollars?  We now know (from a previous article this week) that the financial fiscal year for Iraq ends today Dec 15th.  I am not going to give you any promises of an RV.  I am only trying to bring out the possibilities with EVIDENCE, PROOF and FACTS that this RV ride may soon be over.  …There is just so much evidence pointing in the direction of the end of the year.   [post 2 of 2]
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MilitiaMan (Dinar Guru) –      Quote:  “We would like to inform you that RTL transfers has been activated MSG via electronic services via the Internet‎”   This is telling us Iraq just went Digital… imo… if this is true, then our time is near! imo
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Mnt Goat (Dinar Guru) –   A lot of readers asked me if Iraq was “fully” out of Chapter VII sanctions of the UN Charter for member nations.  Here is my answer:  Iraq is “fully” out of the part of sanctions that took them into the oil for food program, thus for the period mid April 1995 – Dec 2017 all oil revenues (petro dollars) had to be deposited first into the DFI fund (Development Fund for Iraq). This protected the funds from predator debt collectors and also corrupted officials. BUT NOW THIS IS NO LONGER MANDATED!  Iraq can now receive oil revenues directly and the DFI fund is closed. This is just like before the first gulf war.  This is what we want.  This is said to mean “full” sovereignty… This is what Iraq wanted and needed prior to the RV.  However technically there are still minor Chapter VII issues but they will have little to no impact on the re-instatement of the currency.
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Resolving Erbil-Baghdad Crisis “Big Priority for US”: National Security Advisor

ERBIL — National Security Adviser to the US President, H. R. McMaster, said on Wednesday that finding a solution to the disputes between Erbil and Baghdad is “a big priority” for Donald Trump’s administration.

Speaking at an annual conference of the Jamestown Foundation, McMaster explained that Washington has been assisting Kurds since 1991 with Operation Provide Comfort (OPC), hoping to protect them from atrocities carried out against them.

“What happened?” McMaster asked. “You saw the Kurdish Region flourish.”

He valued the developments in Kurdistan Region and said, “It’s a miracle, almost, what happened in Northern Iraq in terms of beautiful cities in Sulaimani, Erbil, and Dohuk.”

“We think an important aspect of Iraq being strong is resolving this conflict and tension between the Kurdish Region and the rest of Iraq,” he said, as reported by Kurdistan24. “So we’re committed to that.”

“We are committed to the territorial integrity of Iraq and also the territorial integrity of the Kurdish Region… We are committed to work together with the Kurdish leadership [and] the Iraqi leadership to mediate the best we can.”

Read more: http://www.dinarupdates.com/blog/

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MilitiaMan (Dinar Guru) –  Article:  “Saleh: There are question marks on mechanisms to convert foreign currency to Iraq”    When Saleh talks about the safest way to secure payment methods at this juncture in time, is serious information. The documentary credit [reference post 2] is looking to be the way he is going to protect that long line. It is an assurance that the importer has complied with standards that are acceptable for international trade. This is setting the stage for what is expected and that is a level playing field in an international setting that requires transparency and a stable currency at a stable price.  Bye bye program rate! imo~ Chapter 7 was lifted on the 8th of December from the article I read.. Imo That was a go time! wink wink wink The twins were born.. lol ~  [post 1 of 2….stay tuned]
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 MilitiaMan (Dinar Guru) –  “The documentary credit is one of the most secure payment methods in international trade, offering the exporter a conditional payment guarantee from the importer’s bank.  Documentary credits usually require the presentation of certain documents, which must be complied with before payment can take place. You must be aware that banks examine the documents only with respect to the documentary credit and do not look at contracts, agreements or the condition of the goods.”   [post 2 of 2]
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Iraq emerges from Chapter VII and the “oil for food”

Iraq ended Saturday with a decision by the Security Council to withdraw from Chapter VII of the oil-for-food program imposed on it since the 1990s.

“Iraq has regained its normal status and international standing,” Foreign Ministry spokesman Ahmad Mahjoub said in a statement, adding that his country had completed all commitments to the program after a series of diplomatic successes.

According to the Security Council resolution that “completed the efforts of Iraq to end its files from the era of the former regime,” he ended his obligations under Chapter VII on the oil-for-food program, after he carried out in full.

In 1996, the United Nations imposed the $ 64 billion oil-for-food program to enable Iraq, besieged by timely international economic sanctions, to sell certain quantities of its oil and buy basic necessities.

Read More: http://www.dinarupdates.com/showthread.php?55665-Iraq-emerges-from-Chapter-VII-and-the-quot-oil-for-food-quot

BGG ~ Obviously, this is very big news, however…

Is Iraq being FULLY removed from the UN Ch 7 Charter (as in – all UNSC oversight)?

(BTW – the sanctions and “the UNSC Charter” may well be two related but different functions)

The wording is still a bit murky for me…

There are some “tensing”, translation and direct reference issues I would like to see cleared up. 

It’s not entirely clear they are officially clear of Ch 7 entirely. In many of the articles and interviews, it appears (to me) as though this is referring to the Oil-for-Food program as an individual issue… apart from the UNSC overall function.

I have said repeatedly – I’m not sure they will release Iraq from their UNSC Ch 7 oversight anytime in the near future. This would greatly limit the UN’s ability to come and go (within Iraq’s borders) as they see fit.

Though the UN appears to be pushing Iraq forward rapidly, I am dubious they give up a big tool in their fight against terrorism in the region.

Does Iraq have to be fully released from the UN Ch 7 charter (the protection portion) to progress to where we would like them to? I believe not. JMHO.

Worst case – they are released from the Oil-for-Food portion of the UN Ch 7 sanctions – which is the last of the active CH 7 sanctions and allows them to sell oil more freely on the open market. Great. Huge move forward.

I am going to be somewhat reserved until a official U.N. announcement of a full release from CH 7.

It’s also curious how they managed to hold an international bond offering without this previously and were successful??

My advice – NO MATTER WHAT… calm down. There is an extraordinary amount of jumping from A to B to Z in the community right now. None of the assumptions have to be correct. Relax – wait for the facts.

Don’t add to the “internet hysteria” going on right now… 

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Kaperoni (Dinar Guru) –   [What other laws are we waiting on? I believe I read something a while back from Kap saying the cbi law was what was needed and there was no specific law needed for the deposit insurance.]   Both are done...  CBI law passed last month and deposit insurance was passed months ago, never implemented…yet the CBI stated just a day or so ago insurance was imminent.
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Don961 (Dinar Guru) –   Some are confused and have asked:  Chapter VII, Chapter VI are UN sanctions…having to do with Kuwait war reparations from Sadaam’s attack on them…  Article VIII compliance has to do with the IMF…Dotting all the i’s , crossing all the t’s to comply with IMF rules and regulations.
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Kaperoni (Dinar Guru) –   Article:  “Specialist: Iraq’s exit from Chapter VII paving the way for a safe area for business and investment”  [I don’t see them getting out of Chapter VII until they satisfy their debts to the Kuwaiti’s…]   …a deal is done to pay the balance with Kuiwait.  Today’s press release concludes Oil for Food program under Chapter VII moving Iraq to Chapter VI.  I think the references to the assets and banking accounts is significant.  This could effect the dinar.
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SECURITY COUNCIL
8126TH MEETING (AM)

All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 2390 (2017)

The Security Council concluded today that all the measures imposed in its resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations in relation to the Iraq oil-for-food programme had been fully implemented.

Unanimously adopting resolution 2390 (2017), the Council welcomed the fact that the remaining funds in the escrow accounts established pursuant to resolution 1958 (2010) had been transferred to the Government of Iraq pursuant to resolution 2335 (2016).

The Council acknowledged the Secretary-General’s final report on the matter (document S/2017/820), which stated, among other things, that the remaining $14,283,565 in the administrative escrow account had been transferred to Iraq.

Following the adoption, Amy Noel Tachco (United States) applauded Iraq’s complete implementation of measures under the oil-for-food programme, although the country still faced many challenges. She looked forward to close cooperation internationally and bilaterally in support of Iraq as a federal, democratic and prosperous country.

The meeting started at 9:45 a.m. and ended at 9:48 a.m.

Resolution

The full text of resolution 2390 (2017) reads as follows:

“The Security Council,

“Recalling its resolutions 1958 (2010) and 2335 (2016),

“Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820,

“1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010);

“2. Also welcomes that the remaining funds in the escrow accounts established pursuant to paragraphs 3–5 of Security Council resolution 1958 (2010) have been transferred to the Government of Iraq pursuant to Security Council resolution 2335 (2016);

“3. Concludes that all the measures imposed by the Security Council in resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations have been fully implemented by the parties.”

Read more:  http://www.dinarupdates.com/blog/
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G-Lin (Dinar Guru) –  Article:  “The UN Security Council issued a decision to exit Iraq from Chapter VII”   Quote:  “After the series of diplomatic successes achieved by the Iraqi Foreign Ministry, its efforts culminated in the issuance of a Security Council resolution to remove Iraq from Chapter VII in the oil-for-food program,” Foreign Ministry spokesman Ahmed Mahjoub said in a press release. After completing all the commitments of the program “.   I find it very interesting that this is occurring out of nowhere here at the end of the year. This is pretty huge.
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Apmcrx (Dinar Guru) –   Article:  “The Central Bank holds its third annual conference with an Arab and international presence”    Quote:   “the conference will witness a large Arab and international presence, including Kuwait, Lebanon, Egypt, Jordan and Tunisia as well as representatives of the Bank and the International Monetary Fund.”  This article smells like our next announcement from IMF article 8 to Iraq is coming too…!!!    IMO.
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Delta (Dinar Guru) –    Article: “France is looking to expand investment cooperation with Iraq”  Quote:  “I can assure investors that the Central Bank has been able to remove the last restrictions related to the external transfer of the amounts that represent the proceeds of the investment.”   VERY HUGE AND GOOD JOB…ARTICLE 8 RIGHT THERE… FREEDOM OF MOVEMENT OF CAPITOL. 
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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/blog/
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Apmcrx (Dinar Guru) –  Article:  “Security Council issues a decision to exit Iraq from Chapter VII”   Quote:  “...remove Iraq from Chapter VII of the oil-for-food program and restore it to its natural status and international status…”   Official announcement!!!   Natural and International rate is coming!!! Imo.
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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..
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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/blog/
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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.
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Kaperoni (Dinar Guru) –   [where do you think the float will start at?]  I expect it to start right where it is at 1184…may go up fast who knows.  The CBI would be foolish to RV, to much money to be made off commission.  The IMF wants currencies to float.  […could you please explain how this will work.]  …hard to know for sure but we will learn when it happens.  I have my own guess…That the CBI will get in compliance with the IMF and accept Article VIII.  Move to a float…and gradually remove the 3 zeros notes and the dinar rises in value.  People dont realize the CBI needs a new exchange regime… choosing to float is a good thing…the CBI makes money…remember, if the CBI stops the auctions, they need to have an alternative.  A float allows for the CBI to buy/sell and make commissions and its all about the money.  Lets put it another way, you cannnot revalue 44 trillion dinar…thats 4 times the worlds money supply…no such event will ever occur.
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The role of scientific research in developing the reality of the Iraqi economy

Scientific research is one of the most important means of developing countries in various fields, whether technological, medical, scientific, educational, cultural or other fields. The economic aspect comes in the forefront of these fields because of its great role and vital and effective in the study of economic reality and scientific methodology to identify Pros and cons that lie in the economic joints and identify the strengths and weaknesses in order to work to strengthen and develop the sources of strength and reform of the existing weakness and work to overcome the negatives that accompany economic performance in accordance with the scientific method based on the integrated methodology study.

The results of the scientific research are based on statistics and data obtained from the real reality and work to provide solutions and alternatives derived from the results of scientific research, which enables the development and development of the economic reality in various aspects investigated and the work of scientific research to study.

Read more:  http://www.dinarupdates.com/blog/
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Follow us on twitter @DinarUpdates !!

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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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.
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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.
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Where is the Iraqi economy?

The economy is the engine of the joints of the state and the recovery of the various sectors, whether government or private sector so all countries of the world seek to develop plans either short or long-term; in order to improve their economic reality.

It is obvious that the positive economic return is a factor in the well-being of the people and the rise in income, not to mention moving the sectors in a way that serves the wheel of construction and development, especially as the market world today forces countries to enter the competition in order to increase their imports and seek to acquire the market.

Iraq is part of today’s world, which has needs and requirements that must be provided to sustain life and meet the needs and wishes of citizens and the state alike. But the economic equation says that the trade balance should be moderated to realize whether we are in a good economic situation or that the balance of payments exceeds the balance of imports.

Read more:  http://www.dinarupdates.com/blog/
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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
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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

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Follow us on twitter @DinarUpdates !!

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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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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