Iraq Economic News and Points to Ponder Thursday Afternoon 4-25-24

Iraq Economic News and Points to Ponder Thursday Afternoon 4-25-24

Economist: There Is Serious Work To Lift US Sanctions On Iraqi Banks

Economy | 04/25/2024  Mawazine News – Baghdad  The expert in economic affairs, Safwan Qusay, confirmed that there is a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to lift sanctions on some banks.

Qusay said, in a televised interview followed by Mawazine News, that “the joint committee is working to study the activities of the banks sanctioned by the US Federal Reserve.”

He added that “banks that have worked to purchase equipment or tools from sanctioned countries will have sanctions imposed on these banks.” A fine, indicating that the government must work to rehabilitate the banking sector so that it is internationally accepted.”

He pointed out that “the government of Muhammad Shiaa Al-Sudani directed the formation of a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to move towards lifting sanctions on Iraqi banks and restoring the status of the Iraqi banking sector. ” to its global stature. https://www.mawazin.net/Details.aspx?jimare=246721

American Threats Close The Iraqi Stock Exchange At A Loss

Market   Economy News – Baghdad  The Iraqi Stock Exchange closed the weekend session, losing by 0.35%, as a result of security developments in northern Iraq after the United States threatened to launch strikes inside Iraq.

The main index of the stock exchange reached 1006.5, with 890 million shares traded, worth 1.1 billion dinars, through 817 transactions, on the shares of 40 companies.

As for the most active companies in terms of traded shares, the Middle East Bank led with 200 million shares, worth approximately 243 billion dinars, and the Iraqi Islamic Bank with 182 million shares.

Views 169 04/25/2024 - https://economy-news.net/content.php?id=42823

The Central Bank Warns Of The Dangers Of Misuse Of Electronic Payment Cards

Economy  Thursday, April 25, 2024 Baghdad/National News Center

The bank explained in a statement received by the National News Centre, that “reports of misused cards are referred to the Supreme Judicial Council, to take the necessary legal measures in accordance with the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued pursuant thereto.”

The statement indicated that “the bank’s efforts in this field resulted in the issuance of judicial rulings against violators, which included sentences of imprisonment and confiscation of cards.” The Central Bank called on    https://nnciraq.com/254022/

The Iraqi Central Bank Sold More Than $270 Million At Auction Today

Economy News – Baghdad  Today, Thursday, the Central Bank of Iraq's dollar sales amounted to more than $270 million in the currency auction.

In its auction today, the Central Bank sold 270 million, 897 thousand and 422 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 264 million 37 thousand and 422 dollars, an increase of 97% over cash sales amounting to 6 million and 860 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 14 banks, and the total number of exchange and brokerage companies participating in the auction was 58 companies.

Views 104 04/25/2024 - https://economy-news.net/content.php?id=42824

The Bank Of Baghdad Is Moving To Increase Its Capital To 400 Billion Dinars

Bank of Baghdad  The Chairman of the Board of Directors of the Bank of Baghdad, Majid Al-Saadi, announced that the meeting of the bank’s general assembly will be held next May 18 in Baghdad.

Al-Saadi said that the next general assembly meeting of the Bank of Baghdad will decide to increase the bank’s capital from 300 billion dinars to 400 billion dinars in response to the Central Bank’s decision, and the increase will be free shares.

He added that the meeting will also discuss concluding a management agreement between the Jordan Kuwait Bank and the Bank of Baghdad.  04/25/2024 - https://economy-news.net/content.php?id=42813

The Price Of Gold Rises And Brent Crude Falls Below $87 Per Barrel

Economy | 12:53 - 04/25/2024  Mawazine News – Baghdad  The price of gold ended its decline in recent days, and rose to $2,313 per ounce at the opening in the Asian markets, this morning, Thursday (April 25, 2024), while the price of Brent crude fell below $87 per barrel.

The price of gold fell by about $100 per ounce during the last three days, but it received support from the anxiety prevailing in global stock exchanges.

Gold is a safe haven for investment and demand for it increases when anxiety prevails in the markets.

Financial markets analyst at FX Street, Zwane Mehta, believes that the US growth data for the fourth quarter that will be released on Friday “will have a significant impact on gold prices,” as any slowdown in the US economy will lead to a rise in the price of the yellow metal.

A slowdown in the US economy is prompting the US Federal Reserve to cut interest rates faster, providing further support to gold prices.

On the other hand, oil prices fell this morning amid concerns about the slowdown in the US economy and the future monetary policy of the US Federal Reserve.

Brent crude fell 9 cents to $86.95 per barrel, while the price of Texas Light, Light crude fell 7 cents to $82.74 per barrel.   https://www.mawazin.net/Details.aspx?jimare=246696

Dollar Prices Fall In Baghdad With The Stock Market Closing

Economy  Thursday, April 25, 2024 Baghdad/National News Center  The exchange rates of the US dollar decreased today, Thursday, against the Iraqi dinar in the markets of the capital, Baghdad, with the stock market closed.

The National News Center correspondent said, “Dollar prices fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 146,300 dinars for every 100 dollars, as prices recorded 146,600 dinars this morning.”

He added, "Prices decreased in banking shops in local markets in Baghdad, where the selling price reached 147,000 dinars for 100 dollars, while the purchase price reached 146,000 dinars."

https://nnciraq.com/254044/

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

 Provoking Points To Ponder on Failures and Mistakes

Through failure, we learn a lesson in humility which is probably needed, painful though it is.- Bill W.

Nothing is a waste of time if you use the experience wisely.- Auguste Rodin

From the errors of others, a wise man corrects his own.- Publilius Syrus

Learn from the mistakes of others - you can't live long enough to make them all yourself.- Martin Vanbee

The entire history of science is a progression of exploded fallacies.- Ayn Rand

Don't use the conduct of a fool as a precedent.- Talmud

Wise men learn by other men's mistakes, fools by their own.- H. G. Bohn

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

Some “Thursday News” Posted by TNT Members 4-25-2024

TNT:

CandyKisses:  US threats close the Iraqi stock exchange at a loss

Economy News - Baghdad

The Iraqi stock exchange closed the weekend session, losing 0.35%, as a result of security developments in northern Iraq after the threat of the United States of America, strikes inside Iraq.

The bourse's main index reached 1,006.5, trading 890 million shares, worth 1.1 billion dinars, through 817 deals, on the shares of 40 companies.

As for the most active companies in terms of traded shares, the Middle East Bank topped the list with 200 million shares, worth about 243 billion dinars, and the Iraqi Islamic Bank with 182 million shares.

Tishwash:  Analyst: Al-Sudani is the first prime minister to work around the clock

 Political analyst Alaa Al-Azzawi confirmed today, Thursday, that Prime Minister Muhammad Shiaa Al-Sudani is considered the first prime minister to work around the clock, and his closeness to citizens increased his popularity, and Iraq has never seen a prime minister this close.

Al-Azzawi told the Iraq Observer Agency that the Prime Minister was on an official visit last week in the United States of America, and the world saw how he wandered here and there and the meetings and agreements that were concluded, as well as the meetings with senior officials in the United States of America, and when he returned to Iraq at the beginning of this week, he received On Monday, Turkish President Recep Tayyip Erdogan, in addition to holding intensive dialogues, and not least, Al-Sudani’s visit to Anbar Governorate yesterday, Wednesday, and his meeting with department directors.

He pointed out that this feeling and belonging in closeness to the citizen raised the level of trust that the citizen lost during two decades, in addition to the presence of general satisfaction with the general policy of the ministerial cabinet, which is considered the first government close to the people.  link

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CandyKisses:  Deputy: The development road will reduce the transport of goods from Basra to the heart of Europe by 72 hours

Deputy: The development road will reduce the transport of goods from Basra to the heart of Europe by 72 hours

Information / Baghdad

MP Mudar Al-Karawi confirmed on Thursday the existence of 3 advantages of the Iraqi development road. 

Al-Karawi said in an interview with Al-Maalouma that "the development road is a strategic development project that will start from the ports of Basra towards Turkey and from there to the heart of Europe with land tracks, railways and investments that may reach $ 18 billion."

He added, "The road is characterized by 3 important points, most notably reducing the extent of transporting goods from Basra to the heart of Europe in 72 hours, while all similar projects in the region have a double trip in terms of time, cost and logistical challenges, which makes the development road the most important genealogy."

He pointed out that "many countries have expressed their desire to have significant investments in projects on the development road, which will be implemented in 2025."

The development road is one of the strategic projects in Iraq, which will launch its first phase during 2025.

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Tishwash:  Will the agreements signed with the US Treasury reflect positively on the exchange rates?

Today, Thursday, economic expert Abdul Rahman Al-Mashhadani stated the possibility of Iraqi getting a green light to contract with Iranian companies that are not sanctioned by the United States, while anticipating the impact of the Central Bank’s agreement with the US Treasury on exchange rates.

Al-Mashhadani said, in an interview with Al-Iqtisad News, “The visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to America is very positive, but so far the results of what was agreed upon in Washington have not appeared.”

He added: “It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,” pointing out that “the real problem of exchange rates has not yet been solved, which is dealing in trade with banned countries.” .

The economic expert explained, “The economic aspect was the main focus of Sudanese’s visit to Washington, and it became clear through the meetings and discussions held by the Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran, in addition to the required investments, which "It is possible to sign in the energy field."

He stressed, "Iraq got the other light by contracting with unsanctioned Iranian companies, which allowed the Ministry of Electricity to sign a contract to recover Iranian gas for a period of five years, at a time when the government is heading to end this file after 3 years, according to what was announced  link

Tishwash:  The most difficult option.. Warnings of the danger of floating the Iraqi dinar without achieving an “important condition”

Economist Nabil Al-Marsoumi warned today, Thursday (April 25, 2024), of the dangers of floating the Iraqi dinar, noting that such a step could lead to the dinar witnessing a violent collapse and rampant inflation that would jump prices to insane levels.

Al-Marsoumi said in a post on the social networking site “Facebook”, followed by “Baghdad Today”, that “some are proposing a solution to address the double price of the dollar against the dinar and the existence of a large gap between the official and parallel prices through a free float of the Iraqi dinar,” indicating, “i.e. Turk.” The dinar is in the market to find its price against foreign currencies through the interaction of the forces of supply and demand.

 Al-Marsoumi added, “Such a decision has some economic positives,” adding, “But the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor.”

He continued, "In light of Iraq's lack of a national private sector that could contribute to increasing the supply of dollars in the Iraqi market, and because of the large volume of imports, which reach 67 billion dollars annually, the only party that owns the dollar is the government," explaining that "in the event that the government decides not to intervene." In the exchange market, it is expected that the dinar will witness a violent collapse and rampant inflation that will cause prices to rise to insane levels that will cause severe damage to citizens’ living standards, and the poor will become more miserable, and will later lead to social tensions and a major rift in the social peace.”

It is noteworthy that the floating exchange rate or currency float is the currency exchange rate that has been floated so that it has become completely liberalized, so the government or the central bank does not interfere in determining it directly, but rather it is released automatically in the currency market through the supply and demand mechanism that allows the price to be determined. Exchange the national currency against foreign currencies.

It is worth noting that the price of the dollar in the local markets is still experiencing a state of instability between rises and falls, even though the official price in the Central Bank of Iraq is 132,000 dinars per 100 dollars, but in the local markets it is witnessing an increase of more than ten points and may at times reach double this.

The number is despite the numerous measures and packages launched by the Central Bank of Iraq, where some attribute that the reason for this confusion in prices is the result of smuggling operations and speculation in the black market for currency  link

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Tishwash:  Will the US withdraw from Iraq?

For the Biden administration, the primary concern regarding Iraq is to avoid a recurrence of the chaotic scenes witnessed during the withdrawal from Afghanistan

 It is being speculated that Israel's ongoing attacks on Gaza since October have prompted a reassessment of the United States' regional policies, sparking discussions within the Joe Biden administration about the potential withdrawal of U.S. troops from Syria and Iraq.

Allegations initially raised by major media outlets like Reuters earlier in the year have resurfaced in light of recent developments in the region.

While these claims have not been officially verified, conflicting statements are emerging from official sources regarding the matter. It is widely recognized that the U.S. Department of Defense (Pentagon) has been the most resistant to the notion of ending the "endless wars," a concept often debated during the tenure of former President Donald Trump but never actualized. However, this issue transcends mere institutional sovereignty; arguments such as the ongoing fight against Daesh no longer suffice to convince the American public to support the expenditure of their tax dollars beyond their borders.

 Furthermore, the consistent support for withdrawal in Trump's stance, coupled with his rising popularity in polls leading up to the upcoming elections, adds pressure on the Biden administration to address this matter decisively.

According to reports in the international press, the issue of U.S. withdrawal from Syria has not yet been addressed. The current focus lies on the U.S. presence in Iraq. Iraqi Prime Minister Mohammed S. Al Sudani has repeatedly stated that the mission of the U.S.-led coalition forces in the country has concluded and they should withdraw.

Additionally, the Iraqi Foreign Ministry has announced an agreement between Baghdad and Washington to establish a commission aimed at initiating discussions about the future of the U.S.-led military coalition in Iraq. This commission will be tasked with determining a timetable for the gradual withdrawal of troops and the eventual termination of the coalition's presence.

Iraq vs. Afghanistan contexts

For the Biden administration, the primary concern regarding Iraq is to avoid a recurrence of the chaotic scenes witnessed during the withdrawal from Afghanistan. As Trump emphasized, such "ineptitude" not only undermined U.S. hegemony in Afghanistan but also had repercussions extending from the Gulf to Eastern Europe. The resulting power vacuum led to new regional alliances, such as the Saudi-Iran rapprochement, which excluded the U.S. Moreover, it emboldened China and Russia in their pursuit of expanding spheres of influence.

Hawks in the U.S. assert that a scenario akin to the "apocalypse" witnessed in Afghanistan would unfold should they withdraw from Iraq. However, the contexts of the two nations differ significantly. Despite enduring years of U.S. occupation, Iraq maintains a functional state apparatus and an integrated democratic political system, setting it apart from Afghanistan. Moreover, its economy is self-sustaining.

The impediments to normalization in Iraq include not only the presence of the U.S. and proxy groups like the PKK but also Iran's military presence in the region. 

In this context, Türkiye's role proves invaluable. Ankara boasts seamless political, commercial and cultural ties not only with Iraq's central government but also with the Kurdistan Regional Government (KRG) in the north. President Recep Tayyip Erdoğan's recent visit to Iraq unequivocally underscored Türkiye's pivotal role in fostering stability in the country.

Should the mutual occupation by the U.S. and Iran in Iraq cease, Türkiye could naturally assume a significant role as a mediator in the transitional phase. Such dialogue would serve as a crucial cornerstone for regional peace.  link

Iraq Economic News and Points to Ponder Wednesday Evening 4-24-24

Iraq Economic News and Points to Ponder Wednesday Evening 4-24-24

More Than 138 Billion Dinars In “Fines” Imposed By The Iraqi Central Bank On Banks And Exchange Companies

Economy     breaking     Central Bank of Iraq   2024-04-23 00:11   Shafaq News/ The Central Bank of Iraq announced on Tuesday that the fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 138 billion Iraqi dinars during the past three months.

A table of the bank, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past three months, starting from January and until the end of last March, amounted to 138 billion, 377 million, 321 thousand, and 527 dinars, indicating that

 “the fines It also included 49 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods. The table showed that

  “the month of January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of March witnessed the lowest fines, amounting to 5 billion and 462.”

One million, 451 thousand, and 344 dinars with administrative penalties amounting to 15 penalties.”

 The table did not show the names of the banks on which fines and administrative penalties were imposed.

 The Association of Investors in the Iraqi Stock Exchange had criticized, in early June, the Central Bank of Iraq's increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.  

 https://shafaq.com/ar/اقتصـاد/كثر-من-138-مليار-دينار-غرامات-المركزي-العراقي-على-مصارف-وشركات-صرافة   

Iraq And Switzerland Are Discussing The File Of Recovering Smuggled Funds And Assets

Policy     04-24-2024 | 388 views   The Chairman of the Federal Integrity Commission and Chairman of the Board of Directors of the Iraq Assets Recovery Fund, Haider Hanoun, stressed the

 need for all countries falling under the United Nations Convention against Corruption to cooperate in exchanging information and legal assistance to recover their smuggled funds and assets.

 During his meeting with anti-corruption officials in the Swiss Ministries of Foreign Affairs and Justice, Hanoun pointed out

 “Iraq’s compliance with its international obligations with regard to the provisions of the United Nations Convention against Corruption,”

 calling for assistance and assistance to be provided to the Republic of Iraq in order to recover its smuggled funds and assets,

 especially with regard to some bank accounts that the corrupt people were able to seize. Hiding the proceeds of corruption smuggled through it.”

 Hanoun gave a brief presentation on the nature of the Commission’s work and its various departments, pointing out that the

 Iraqi legislator did not limit himself to stipulating departments with deterrent and injunctive aspects, such as the investigation and recovery departments in the Commission’s law,

 but rather went beyond that to stipulate more than one department carrying out the preventive, educational and awareness-raising aspects, pointing to the work of The Commission is working to develop the state’s oversight cadres through the Iraqi Anti-Corruption Academy, noting the step of   launching diploma studies in specializations related to anti-corruption.”

During the meeting, they “reviewed the

     aspects of joint work,

     international cooperation and the provision of legal assistance, and the

     points of similarity and difference in the anti-corruption strategy (Iraqi and Swiss), as well as the

     possibility of exchanging experiences, information and training, and the

     emphasis on strengthening ties and relationships between countries,

     concluding memorandums of understanding and the role of this in

     overcoming corruption.”

     Money recovery and

     extradition process.  

https://www.alsumaria.tv/news/politics/487133/العراق-وسويسرا-يبحثان-ملف-استرداد-الأموال-والأصول-المهربة    

Parliamentary Integrity Reveals An Agreement With Interpol To Recover Fugitive Corrupt People

 Political| 10:52 - 04/23/2024   Mawazine News – Baghdad  Member of the Parliamentary Integrity Committee, Abdul Amir Al-Mayahi, revealed   new moves to proceed with amending the election law again, noting that  Parliament is coordinating an agreement between the Iraqi and international Interpol to arrest fleeing corrupt people.

  Al-Mayahi said in an interview followed by Mawazine News:

 “There is an agreement between the Iraqi Interpol and the International Interpol, to pursue any wanted person in any country, in an effort by the Iraqi Interpol to arrest the wanted persons and hand them over to the Iraqi government, and there is effective coordination with Interpol in this regard.”  He added.

 “The Integrity Committee works independently and seeks to collect the required documents regarding those accused of corruption, and

 upon obtaining proof, the committee will work to request hosting the concerned official if he is present inside the country, while submitting recommendations to the relevant authorities.”   He continued,

 “The committee is not responsible for prosecuting the wanted individuals.”

 On charges of corruption outside the country, it is the responsibility of the Federal Integrity Commission and the Iraqi and international Interpol if there are arrest warrants for certain figures of state employees who have committed corruption and of the Integrity Commission or the Public Prosecution.”  

 https://www.mawazin.net/Details.aspx?jimare=246516    

Türkiye: The Development Road With Iraq Will Link FAO To London

 Economy     Iraq     Türkiye     Development path  2024-04-22  Shafaq News/ The Turkish Minister of Transport and Infrastructure, Abdulkadir Oraloglu, confirmed on Tuesday that the

 “Development Road” project will allow goods to be transported to all European countries without interruption via a land route and railway extending from the Iraqi port of Al-Faw to the British capital, London. Oglu said in a statement followed by Shafaq News Agency,

  “Turkey, Iraq, Qatar, and the UAE signed in Baghdad a four-way memorandum of understanding for cooperation on the development road project, under the auspices of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Muhammad Shia’a al-Sudani.” He pointed out that

"the large port of Al-Faw in Iraq is important in the project as a transit center," explaining that

 "the project will significantly reduce travel time between Asia and Europe via Turkey."  He continued:

 "Through the development road project that we are implementing based on the advanced and growing volume of trade in the world and the strategic location of Turkey,

 we will allow uninterrupted transportation to all European countries via land and railway from the port of Al-Faw to London." 

The Turkish Minister stated that "the development road will shorten the time on the ship departing from the port of Al-Faw to Europe by 15 days compared to the Suez Canal," stressing that

 "the project will open a new door with regard to regional trade."

 Yesterday, Monday, Iraq, Turkey, the UAE, and Qatar signed a four-way agreement regarding the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Muhammad Shia al-Sudani and Turkish President Recep Tayyip Erdogan.

 The agreement aims to enhance cooperation regarding the Iraq Strategic Development Pathway Project, as the four countries will work to establish the necessary frameworks to implement the project, according to a statement issued by the Prime Minister’s Office.

 The Iraqi Minister of Transport, Razzaq Al-Saadawi, the Turkish Minister of Transport and Infrastructure, Abdul Qadir Oraloglu, the Qatari Minister of Transport, Jassim Al-Sulaiti, and the Emirati Minister of Energy and Infrastructure, Suhail Mohammed Al-Mazrouei, signed the agreement. Agreement on behalf of their countries.

 It is expected that the strategic development road project will contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between East and West.

 The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.

 The Iraqi Prime Minister had previously stated that the development road represents a global corridor for transporting goods and energy.

 Al-Sudani explained that the project includes a railway line to transport goods with a capacity of 3.5 million tons in its first phase, which will rise to 7.5 million tons in the second phase.

The Iraqi Prime Minister explained that the project will also include a

      land transport highway and

     energy transport pipelines, in addition to the large Al-Faw port and the

     industrial city expected to be one of the largest ports in the Middle East.

The project will generate many job opportunities for Iraq and the countries of the region, as well as opportunities for industries and businessmen, and will be a center for attracting global trade.

Many Arab, regional and European countries have expressed their willingness to participate in the Iraq Development Road Project, either by pumping investments or participating in construction work, as it constitutes an important link between Asia and Europe.

 The value of the project is estimated at about 17 billion dollars.

 It will link the large port of Al-Faw in southern Iraq to the border with Türkiye by extending the railway and road network.

The project is expected to turn the country into a transit hub by shortening travel time between Asia and Europe in an attempt to compete with Egypt's Suez Canal.  

 https://shafaq.com/ar/اقتصـاد/تركيا-طريق-التنمية-مع-العراق-سيربط-الفاو-بلندن       

Financial Inclusion Indicators
 
April 24, 2024   To/all banks    M/ Financial inclusion indicators

 He was keen to prepare a database for financial inclusion indicators in Iraq. Which will be essential to measure Financial Inclusion Rates

We attach to you a database of financial inclusion statistics and loans granted to individuals
 
Companies will collect this data quarterly and add it cumulatively to previous periods.
 
The response will be within (51) days from the date of this circular.
 
We would also like to inform you that a training workshop will be held in the hall of the Central Bank of Iraq On Monday 4/22/2024 at ten in the morning for (one day only).
 
I hope to nominate specialized representatives Two people from your bank to attend the workshop for the purpose of training on how to enter data.
 with respect.

 Attachments:
- Excel table of financial inclusion statistics
- Excel table of statistics of loans granted to individuals and companies

[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-171394410086180.pdf]

   Financial inclusion indicators.. For more, click here   https://cbi.iq/static/uploads/up/file-171394410086180.pdf
 
https://cbi.iq/news/view/2551   
 

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

 Provoking Points To Ponder on Failures and Mistakes

Through failure, we learn a lesson in humility which is probably needed, painful though it is.- Bill W.

A failure is a man who has blundered, but is not able to cash in the experience.- Elbert Hubbard

Like success, failure is many things to many people. With Positive Mental Attitude, failure is a learning experience, a rung on the ladder, a plateau at which to get your thoughts in order and prepare to try again.- W Clement Stone

Disappointment is the nurse of wisdom.- Sir Boyle Roche

When you make a mistake, don't look back at it long. Take the reason of the thing into your mind, and then look forward. Mistakes are lessons of wisdom. The past cannot be changed. The future is yet in your power.- Hugh White

What can any of us do with his talent but try to develop his vision, so that through frequent failures we may learn better what we have missed in the past.- William Carlos Williams

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

“Tidbits From TNT” Thursday Morning 4-25-2024

TNT:

Tishwash:  Al-Araji from Russia: Iraq still needs the support of the international community

Iraqi National Security Advisor, Qasim Al-Araji, confirmed on Thursday that his country still needs the support of the international community to achieve stability and sustainable development.

This came in a speech he delivered at the twelfth meeting of senior officials on security issues held in St. Petersburg, Russia 2024.

Al-Araji said in his speech, "Iraq's message to the international community is a message of reassurance that our people have overcome the challenges of violence, terrorism, and sub-identities and are moving forward on the path of peace and sustainable development."

He added, "We look forward to supporting the economic process and moving the wheel of development, education, and other aspects related to the future of Iraqis, by transforming crises into opportunities for success."

Al-Araji pointed out that "Iraq still needs the support of the international community, to achieve the paths and requirements of managing diversity and pluralism and enhancing its national security in order to achieve sustainable stability and development."  link

Tishwash:   Sudanese Advisor: $450 billion value of future investment projects in Iraq

The Prime Minister's Advisor for Investment Affairs, Muhammad Al-Najjar, revealed on Wednesday the value of the investment projects that will be implemented in Iraq during the coming period.

Al-Najjar said in a televised statement, followed by “Al-Eqtisad News,” that “the economic growth that Iraq is currently witnessing is due to a number of reasons, the most important of which is the maintenance of stable oil prices, as this contributed to achieving financial abundance, in addition to the calm and political stability, which prompted the private sector.” To pump very large sums of money into strategic projects.”

He added, "The value of the investment projects that will be implemented in Iraq is estimated at 450 billion dollars, most of which are related to infrastructure and climate change," noting that "Qatar, Saudi Arabia, and the United States are the most prominent investing countries during the coming period, as Iraq has signed several agreements with those countries."

Al-Najjar continued, "Iraq, according to these data, will record the highest levels of economic growth in the world," noting that "the government's vision includes involving the private sector in achieving sustainable development through the implementation of various projects, especially in the areas of health and housing."

He confirmed the existence of "a package of important changes that will occur in Iraqi commercial and economic laws, as these packages were presented by the Council of Ministers to auditing bodies to be later presented to the House of Representatives." 

He revealed that "the Iraq Fund for Development is in the process of launching a project (rent and own), which means owning the property for its residents, and it is a project proposed for the first time in Iraq."   link

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Tishwash:  Iraq alone possesses 9% of the world's reserves...a magical material to stimulate agriculture and the economy, awaiting investment

 Economic researcher Salah Al-Moussawi revealed today, Wednesday (April 24, 2024), that phosphate is a wealth that will not be depleted in Iraq for hundreds of years, while noting that it achieves a double benefit.

Al-Musawi is one of those who worked for years in the phosphate sector in western Iraq at the end of the seventies of the last century, and he is familiar with the numbers and studies that took place for years about this enormous natural wealth and how it can be invested in a way that leads to a qualitative shift in supporting the agricultural sector.

He said in an interview with “Baghdad Today” that  “fertilizer prices in global markets approached $1,200 per ton, but in Iraq it can be produced for only $200, and this difference gives farmers momentum to reduce production costs at significant rates,” stressing that “phosphate factories are capable of Producing at least one million and 200 thousand tons annually, but the numbers may double with the presence of new lines, and it could constitute a resource not only for the country but also for neighboring countries due to the difference in prices and quality.”

He pointed out that "the phosphate reserves in Iraq are sufficient to operate at current production levels for hundreds of years without being depleted, meaning that we are facing great wealth," stressing that "the Sudanese government has actually begun to move towards investing Iraq's capabilities in several areas away from the oil file because it is aware of the seriousness of the changes." The importance of diversifying the economy, giving greater importance to agriculture, and ensuring its tools, including fertilizers, for survival and growth.”

Optimally investing in phosphate would achieve two main goals at the same time, which is providing fertilizer at prices equivalent to approximately 15% of the import cost, in addition to finding a new export resource away from oil.

Iraq ranks second in the world in phosphate reserves, as Iraq alone possesses 9% of the total global reserve, according to the Iraqi Geological Survey.  link

Mot: Bet Ya Didnt Knows ~~~~~

Mot:  .. Yeppers!! - Frustrating When This Happens

Iraq Economic News and Points to Ponder Wednesday Afternoon 4-24-24

Iraq Economic News and Points to Ponder Wednesday Afternoon 4-24-24

Iraq Completes The Completion Of The Files For The Initial Offer Of Goods And Services To Join The World Trade Organization

Wednesday 24, April 2024 23:03 | Economical Number of readings: 115  Baghdad / NINA / The Ministry of Commerce announced the completion of the files for initial offers for goods and services and their official submission to the Secretariat of the World Trade Organization through official channels.

Minister of Commerce Atheer Al-Ghurairi, Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, said: “This important step comes in the context of the Iraqi government’s efforts and its program aimed at promoting international trade and achieving sustainable development, which reflects its commitment to ensuring global economic integration and expanding economic partnerships.” .

He added “The National Committee, the technical committees emanating from it, and the accession team in the Ministry were able, within a short period of time, to complete these files and submit them to the organization in preparation for holding the third meeting of the working group on Iraq during the current year, 16 years after the date of the second meeting of the group in 2008.”

He pointed out that the World Trade Organization (WTO) and international circles welcomed Iraq's return to the negotiating table.

Al-Ghurairi stressed: “The two files for the initial offer of goods and services, which were submitted, included a wide range of products and services that reflect the diversity and competitiveness of the Iraqi economy and their negotiation,” noting: “

Work is underway to prepare the Iraqi negotiating team and build the team’s negotiating capabilities for the purpose of initiating a contract.” Negotiating rounds with member states of the organization in order for Iraq to obtain membership in the organization.

He explained: “The Department of Foreign Economic Relations, through official channels of dealing with the organization, is working on completing all requirements for accession in order for Iraq to obtain membership in the organization and to enhance Iraq’s integration into the multilateral trading system.”

It is worth noting that the World Trade Organization (WTO) has issued the annual report on the accession of observer countries, and praised the efforts led by the Ministry of Commerce through its chairmanship of the National Committee, and that Iraq is the only Arab country whose accession process has become active, and has passed advanced stages among the Arab countries that have It holds the status of an observer member.  https://ninanews.com/Website/News/Details?key=1122971

Increase In Foreign Remittance Sales At The Central Bank Auction

Money  and business Economy News – Baghdad  External remittances at the Central Bank of Iraq auction increased by 95% today, Wednesday, at the expense of cash sales, to reach $266 million.

In its auction today, the Central Bank sold 279 million and 556 thousand and 200 dollars, which it covered at a base exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for external transfers, and at a price of 1,310 dinars per dollar in cash.

Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 266 million 256 thousand and 200 dollars, an increase of 95% over cash sales amounting to 13 million and 300 thousand dollars.

The number of banks that purchased cash dollars reached 6 banks, while the number of banks that responded to requests to enhance balances abroad reached 12 banks, and the total number of exchange and brokerage companies participating in the auction was 117 companies. 96 views   04/24/2024  PM  https://economy-news.net/content.php?id=42783

Sudanese Advisor: $450 Billion Value Of Future Investment Projects In Iraq

Advisor To The Prime Minister For Investment Affairs, Executive Director Of The Iraq Fund For Development, Muhammad Al-Najjar

Reconstruction and building   Economy News – Baghdad   The Prime Minister's Advisor for Investment Affairs, Muhammad Al-Najjar, revealed on Wednesday the value of the investment projects that will be implemented in Iraq during the coming period.

Al-Najjar said in a televised statement, followed by “Al-Eqtisad News,” that “the economic growth that Iraq is currently witnessing is due to a number of reasons, the most important of which is the maintenance of stable oil prices, as this contributed to achieving financial abundance, in addition to the calm and political stability, which prompted the private sector.” To pump very large sums of money into strategic projects.”

He added, "The value of the investment projects that will be implemented in Iraq is estimated at 450 billion dollars, most of which are related to infrastructure and climate change," noting that "Qatar, Saudi Arabia, and the United States are the most prominent investing countries during the coming period, as Iraq has signed several agreements with those countries."

Al-Najjar continued, "Iraq, according to these data, will record the highest levels of economic growth in the world," noting that "the government's vision includes involving the private sector in achieving sustainable development through the implementation of various projects, especially in the areas of health and housing."

He confirmed the existence of "a package of important changes that will occur in Iraqi commercial and economic laws, as these packages were presented by the Council of Ministers to auditing bodies to be later presented to the House of Representatives."

He revealed that "the Iraq Fund for Development is in the process of launching a project (rent and own), which means owning the property for its residents, and it is a project proposed for the first time in Iraq."

Views 117   04/24/2024 - https://economy-news.net/content.php?id=42789

The Stock Market Closed 2.48% Higher After The Iraqi Openness With Türkiye And America

Market  Economy News – Baghdad  The Iraqi Stock Exchange closed today, Wednesday, up by 2.48%, after the positive developments in the Iraqi economy as a result of the signing of agreements with Turkey and America.

The stock exchange traded shares of 44 companies, with 3.6 billion shares worth 1.5 billion dinars, through 866 transactions.

The Bank of Baghdad continued its rise since the beginning of the week, as it rose today by 6.55% and reached 4.39 dinars, and the Iraqi Islamic Bank also rose by 10.57% and reached 1.36 dinars, after announcing the date of the General Assembly meeting and increasing its capital to 325 billion dinars.

The banking sector ranked first among the most traded companies, with shares traded reaching 3.5 billion shares.    98 views 04/24/2024 - https://economy-news.net/content.php?id=42778

Oil Rises After A Decline In Us Inventories

Economy | 08:39 - 04/24/2024   Mawazine News – Baghdad   Oil prices rose in early trading, today, Wednesday, continuing their gains in the previous session after industry data showed a sudden decline in US crude inventories last week, in an indicator... Demand increased and attention shifted away from hostilities in the Middle East.

Brent crude oil futures rose nine cents, equivalent to 0.1 percent, to $88.51 per barrel by 00:31 GMT. US West Texas Intermediate crude futures also increased. Ten cents, or 0.11 percent, to $83.45 per barrel. According to reports seen by Al-Naeem News.

Market sources, citing figures from the American Petroleum Institute, reported that US crude inventories fell by 3.237 million barrels in the week ending April 19. In contrast, six analysts polled expected... Reuters reported an increase of 800 thousand barrels.

Traders are awaiting official US data on oil inventories and products scheduled to be released at 10:30 am US time. United States (1430 GMT) to confirm the significant decline in inventories.

Meanwhile, expectations are growing that the UK and EU will cut. Interest rates in June, which may help support economic growth, thus increasing demand for oil.

https://www.mawazin.net/Details.aspx?jimare=246586

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Points To Ponder on Failures and Mistakes

There are no mistakes. The events we bring upon ourselves, no matter how unpleasant, are necessary in order to learn what we need to learn; whatever steps we take, they're necessary to reach the places we've chosen to go.- Richard Bach

Failure is instructive. The person who really thinks learns quite as much from his failures as from his successes.- John Dewey

Failure is a school in which the truth always grows strong.- Henry Ward Beecher

The important thing is to learn a lesson every time you lose.- John McEnroe

It's good to fail now and again - you learn a lot more out of failure than you do out of success.- Ian Hunter

One of the reasons mature people stop learning is that they become less and less willing to risk failure.- John W. Gardner

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Wednesday Evening 4-24-24

Goldilocks' Comments and Global Economic News Wednesday Evening 4-24-24

Good Evening Dinar Recaps,

I see two things that have to happen before we see an RV on our paper money. Gold has to be able to withstand anything that is thrown at it, and the QFS has to be completed my friends.

We are looking at the CFTC being able to take us in soon, BUT as they have said in their own words yesterday:

“as soon as technologically practicable.”

Going forward, connections to those who are actually creating the system in the field of technological development are the people who provide us with real Intel.

Everything else, is just simply getting the word around that everything is done and secondary intel.

What is going on behind the scenes in technological advancement is our path forward. The old world has passed away and all things are becoming new.

Let me introduce to you the new World Reserve Asset going forward. Ripple is the new dollar. When Ripple is set free backed by gold, so are we.   The Banker

© Goldilocks

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US to take aim at Chinese banks aiding Russia war effort — WSJ - BusinessWorld Online

👆 Can you see how this is pushing the digital economy forward and new payment system especially in the east?

© Goldilocks

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BRICS weighs in on using stablecoins in settlements, Russian official says | Crypto News

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US Senate Introduces Stablecoin Regulation Bill | The Crypto Times

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Crypto ETFs Make Great Headlines, But Stablecoins Are Key To Mass Adoption | Forbes

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Spring Meetings 2024 Wrap Up: Despite mounting crises, persistent lack of political will to match rhetoric with action remains - Bretton Woods Project

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Message from Freedom Fighter on Iraq's RV Process 2024-04-24

LISTEN HERE:

👇Reposted from this morning:

CBI Banker in Iraq Contact:

Dee and I just finished a conversation with our CBI Banker in Iraq with ties to the Foreign Remittance Department.

Iraq is currently increasing the amount of Gold they hold that will support their currency.

Iraq is encouraging people to use a debit (Visa & Master) Card as much as possible, so they can get used to becoming a cashless society.

As far as a rate is concerned, they are looking to move from 1,310 to 1,000 soon.

Many new agreements have been signed with other countries to increase the demand for their currency as of late.

He expressed that they still need more goods to sell to increase their money velocity.

Iraq has not moved to a position of removing the three zeros on their currency just yet.

It was mentioned that they are still working with their Foreign Corresponding Bank to complete their banking reforms this year.

© Goldilocks

~~~~~~~~~

Iraq is telling us on the CBI website that they are meeting their Financial Inclusion Requirements.

G20 has standard guidelines for what this means.

"Financial inclusion is measured in three dimensions: (i) access to financial services; (ii) usage of financial services; and (iii) the quality of the products and the service delivery."  https://cbi.iq/news/view/2552

© Goldilocks

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G20 Set of Financial Inclusion Indicators.pdf

READ HERE:

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RIPPLE XRP SEC CASE COULD END VERY SOON $20 XRP COULD BE NEXT!  |  Youtube

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Russian court orders seizure of $440m from JPMorgan | Luxembourg Times

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Ripple vs. SEC: Trial Resumes as Crypto Industry Braces for Impact | Finance Magnates

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Indonesia Releases Exports of Moringa Leaves, Coconut Charcoal to Asia and Europe - News En.tempo.co

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Russian court orders seizure of $440m from JPMorgan | Luxembourg Times

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Gold Price Today Will Look Different Soon | Youtube

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Two SEC attorneys resign after ‘gross abuse of power’ sanctions | Banking Dive

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Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

Goldilocks' Telegram Room

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“Tidbits From TNT” Wednesday 4-24-2024

TNT:

CandyKisses:  Turkish Transport Minister announces a four-way summit on the "development road" project soon

 ISTANBUL (NINA) - Turkish Minister of Transport and Infrastructure Abdulkadir Uroglu announced that a four-way ministerial summit between Turkey, Iraq, the UAE and Qatar will be held soon regarding the "development road" project.

The Turkish minister said in a press statement: The memorandum of understanding signed yesterday between Turkey, Iraq, Qatar and the UAE in Baghdad to cooperate on the "development road" project was a bilateral agreement, but with joint Turkish and Iraqi efforts that also included the UAE and Qatar.

He added that weekly meetings are taking place between officials of both Turkey and Iraq, and a four-way summit will be held in the next two months.

Uraloglu said they would open offices in Iraq and Turkey as part of the project in the coming months, noting that with the operation of the development road, trade volume will rise from $20 billion to $40 billion.

Turkey, Iraq, Qatar and the UAE signed in Baghdad yesterday a four-way memorandum of understanding for cooperation on the "development road" project, under the auspices of Turkish President Recep Tayyip Erdogan and Iraqi Prime Minister Muhammad Shia al-Sudani.

The "Development Road" project is a road and railway extending from Iraq to Turkey and its ports, with a length of 1,200 km inside Iraq, and aims to transport goods between Europe and the Arab Gulf countries.

Tishwash:  Venezuela Hires Rothschild as Adviser on Defaulted Debt Pile

 Venezuela’s government has hired Rothschild & Co. as a financial adviser to provide an overview of its foreign debt obligations, according to people familiar with the matter.

Rothschild is working to map out what the administration owes and to whom, said the people, who asked for anonymity to discuss a contract that has not been made public. Debt mapping is normally a preliminary step taken by a government before it prepares to start a restructuring.

Representatives for Paris-based Rothschild declined to comment. A press official for Venezuela’s Finance Ministry did not respond to messages seeking comment.

Venezuela owes roughly $154 billion to overseas lenders — according to an estimate from economist Francisco Rodriguez, a professor at the University of Denver — including global bonds issued by the government and state oil company, which have been in default for more than six years. It’s been accumulating interest on those bonds and court judgments for unpaid commercial loans.

Sovereign bonds trade for around 20 cents on the dollar, while defaulted notes issued by Petroleos de Venezuela SA exchange hands for around 11 cents, according to indicative pricing compiled by Bloomberg. The debt has rallied since JPMorgan Chase & Co. laid out a plan to re-weight the securities in widely followed emerging-market debt indexes back in February.

REDD Intelligence first reported Venezuela mandated Rothschild as an adviser. The hiring comes amid a recent push by President Nicolas Maduro’s administration to reengage with global markets, mulitilateral institutions and ratings firms after years of international isolation. Over the years, the president has made overtures that it was willing to work with creditors, though those talks have never progressed.

Washington doesn’t recognize Maduro, and sanctions prohibit the government from selling debt on US markets. Sanctions would need to changed before a debt restructuring could be carried out.

Relations between the two countries worsened last week as the US reimposed sanctions on the oil and gas industries, citing Maduro’s failure to live up to promises to hold a fair election later this year. Venezuela, in turn, said Washington had breached a political agreement signed last year in Doha.

Read more: US to Reinstate Venezuela Sanctions, Says Maduro Broke Deal

The country is set to vote on July 28 in an election that will pit Maduro against a candidate for the opposition, likely ambassador Edmundo Gonzalez.   link

************

Tishwash: Al-Sudani directs the ministers to follow up on the implementation of the memorandums of understanding concluded with America and Turkey

Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed the ministers to follow up on the implementation of the memorandums of understanding and agreements signed with the United States and Turkey.

Al-Sudani’s office stated in a statement received by Mawazine News, “Prime Minister Muhammad Shia’ al-Sudani reviewed, at the beginning of the Council of Ministers today, the results of his official visit to the United States this month, which produced results that are in favor of Iraq in terms of economy, politics, security, and regional stability.”

In the interest of building bilateral strategic relations, in addition to signing a number of memorandums of understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”

The statement added, "Al-Sudani also reviewed the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey and Qatar."

And the UAE, regarding the development road project, the investment opportunities it brings, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”

During the session, the Prime Minister directed the ministers to “follow up the implementation of the memorandums of understanding, and provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the states.” United States and Turkey.  link

Mot: .... Say Do Ya Know what day 

Mot: . OK -- Fess Up!! --WHOOOOOOOOO is Holding This UP!!??? 

Goldilocks' Comments and Global Economic News Wednesday AM 4-24-24

Goldilocks' Comments and Global Economic News Wednesday AM 4-24-24

Good Morning Dinar Recaps,

Recently, gold has found its own path. It is becoming increasingly bold in determining its own path.

There have been recent attempts to short the market in gold, and there just doesn't seem to be anything powerful enough to do it.

Gold has awakened into a life determined by real fundamentals unlike anything else on the market.

Our tokenized assets and Stablecoins will be supported by a commodity of real value going forward, and nothing seems to be able to stop it from realizing its potential going forward.  Schwab

© Goldilocks

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MESSAGE FROM FREEDOM FIGHTER ON THE COMMODITY EXCHANGE ACT

LISTEN HERE:

~~~~~~~~~

CBI Banker in Iraq Contact:

Dee and I just finished a conversation with our CBI Banker in Iraq with ties to the Foreign Remittance Department.

Iraq is currently increasing the amount of Gold they hold that will support their currency.

Iraq is encouraging people to use a debit (Visa & Master) Card as much as possible, so they can get used to becoming a cashless society.

As far as a rate is concerned, they are looking to move from 1,310 to 1,000 soon.

Many new agreements have been signed with other countries to increase the demand for their currency as of late.

He expressed that they still need more goods to sell to increase their money velocity.

Iraq has not moved to a position of removing the three zeros on their currency just yet.

It was mentioned that they are still working with their Foreign Corresponding Bank to complete their banking reforms this year.

© Goldilocks

~~~~~~~~~

Institutional Digital Assets: The Future of Finance Is Here | CoinDesk

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SEC Lawyers Resign After Judge Sanctions the Regulator for 'Gross Abuse of Power' – Legal Bitcoin News

👆  Goldilocks pointed to this article

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Institutional Digital Assets: The Future of Finance Is Here | CoinDesk

~~~~~~~~~

SEC Lawyers Resign After Judge Sanctions the Regulator for 'Gross Abuse of Power' – Legal Bitcoin News

👆  Goldilocks pointed to this article

~~~~~~~~~

"CFTC Approves Final Rules on Swap Confirmation Requirements for Swap Execution Facilities (SEFs)"

These rules go into effect 30 days after they have been placed in the Federal Register. "An essential component of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) is its framework for the regulation of swaps, including central clearing and trade execution requirements, registration and comprehensive regulation of swap dealers, and recordkeeping and reporting requirements."

The final rules amend CFTC Regulation 37.6(b) to require such confirmation to take place “as soon as technologically practicable.”

We have two things holding us back at this point in moving forward with the newly amended and final rules of swap executions on Securities such as Foreign Currency.

1) This amendment and final rule has to go to the Federal Registry which doesn't take long.

2) This new amendment can be implemented as soon as "technologically practicable.”

Yes, as soon as the QFS is completely finished. Stay tuned, this room will keep you updated on QFS developments as they are happening each and "every day" as we have done for the last 3 years. CFTC 1 CFTC 2   Investopedia

© Goldilocks

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RIPPLE XRP TO DOMINATE OVER $454 TRILLION🚨WAKE UP NOW | Youtube

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HEDERA HBAR HOLDERS TODAY WE MADE HISTORY! | Youtube

~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline 

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MilitiaMan: IQD Update - Iraqi Dinar - Global Deals - Support - USA- Turkey - Timing- Currency Value - Tabled

IQD Update - Iraqi Dinar - Global Deals - Support - USA- Turkey - Timing- Currency Value - Tabled

MilitiaMan and Crew:  4-23-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=6eU-OpXKZNk

Iraq Economic News and Points to Ponder Late Tuesday Evening 4-23-24

Iraq Economic News and Points to Ponder Late Tuesday Evening 4-23-24

The US Treasury Praises The Actions Of The Government And The Central Bank In The Washington Meetings

Economy News – Baghdad  Samir Al-Nusairi    During the visit of the Prime Minister to Washington and his meeting, in the presence of the Governor of the Central Bank, with the US Treasury delegation, and the negotiations that took place regarding the financial and banking reform strategy implemented by the government and the Central Bank, the American side emphasized its praise of the reform measures and steps,

which resulted in organizing foreign trade financing and complying with international standards in 2023 and the past months of 2024, and to bridge part of the gap between the official price and the price equivalent to the dinar exchange rate against the US dollar.

This refutes the criticisms, allegations and media exaggerations of some satellite channels by insulting the Central Bank and the banking sector and pointing out some violations in the issue of controlling the monetary dollar, which were addressed at the time of the beginning of the application of the electronic platform.

What is important and what must be confirmed now is that 100% of the external transfers that were made were in accordance with the relationship What is new between our banks and international correspondent banks, in accordance with the instructions and mechanisms of the electronic platform, are sound and transparent transfers in accordance with international standards, and that the window for selling foreign currency is an economic indicator that achieves one of the objectives of monetary policy.

“Accusing the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and the proposition that says selling currency is a waste of public money is a description that has nothing to do with the economic process.”

It must be noted that “the process of the currency sale window began to be implemented by the Central Bank on 10/4/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and this process has continued to meet the needs of the Ministry of Finance for currency.”

The local government, for the purposes of the operating budget, purchased the dinar from the public for the purpose of controlling liquidity levels, which is known as the monetary sterilization process on the one hand, and to recycle the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages, securing government expenditures, as well as meeting and covering imports, and maintaining the stability of the exchange rate targeted by the Central Bank.

“The foreign currency selling window is considered one of the largest open market operations in controlling local liquidity levels and putting the cash surplus on its proper paths. It is a good economic indicator and achieves one of the goals of monetary policy, and this is consistent with the multi-dimensional functions that the Central Bank of Iraq performs, as it is concerned with financial stability.”

It manages the payments system, manages foreign reserves, licenses and monitors banks and financial institutions, and sets preventive controls, in addition to other tasks related to monetary issuance and publishing economic data, indicators and forecasts.”

“The basic tasks carried out by the central bank are to manage monetary policy, which aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.”

274 views 04/23/2024 - https://economy-news.net/content.php?id=42722

Central Bank Sales Today Exceed $282 Million

Tuesday 23 April 2024 | Economical Number of readings: 195  Baghdad / NINA / The Central Bank of Iraq announced, today, Tuesday, its total sales of foreign currency through the electronic window.

The total amounts of transfers abroad (remittances, credits) amounted to $257,194,465, while the total amount of cash sales amounted to $25,430,000, and the total amount of sales amounted to $282,624,465.

The cash selling price was 1,305 dinars per dollar, while the bond credits, international settlements for the electronic card, and foreign transfers were 1,310 dinars per dollar. /End 11

https://ninanews.com/Website/News/Details?key=1122610

"Al-Eqtisad News" Publishes The Full Decisions Of The Council Of Ministers Session

Economy News – Baghdad  Al-Eqtisad News publishes the full decisions of the sixteenth Cabinet session held on Tuesday, the most prominent of which was raising the acceptance rate of top graduates of technical institutes at universities to 20%.

The Prime Minister’s media office said in a statement, seen by Al-Iqtisad News, that “Prime Minister Muhammad Shiaa Al-Sudani chaired the sixteenth regular session of the Council of Ministers, in which the general conditions in the country were discussed, a number of important files were discussed, and topics were discussed.” listed on the agenda and take decisions and recommendations thereon.”

The statement added, "At the beginning of the session, Prime Minister Muhammad Shiaa Al-Sudani reviewed the results of his official visit to the United States this month, which produced results that are in the interest of Iraq in terms of economy, politics, security, and regional stability, and in the interest of building bilateral strategic relations, in addition to the signing of a number of Memorandums of understanding and partnership between the Iraqi public and private sectors on the one hand, and between major leading American companies and financial and banking institutions on the other hand.”

He explained, "Al-Sudani reviewed the visit of the Turkish President to Baghdad yesterday, which witnessed the signing of the bilateral strategic framework agreement, and the signing of 26 joint memorandums of understanding for various institutions between the two countries, which will be reflected in the economic and development partnership, in addition to the quadripartite understanding that included Iraq, Turkey, Qatar, and the UAE.

Regarding the development road project, the investment opportunities it holds, and entering into a new phase of security and economic understandings and in the field of water management and water shares in the Tigris and Euphrates rivers, all of which will push relations forward.”

Al-Sudani directed, according to the statement, “the ministers to follow up on the implementation of the memorandums of understanding, and to provide the utmost efforts in order to achieve the highest levels of mutual benefit, for all sectors and activities covered by the memorandums of understanding, in addition to assigning the committees concerned with securing the requirements for success and good implementation of the agreements and understandings signed with the United States and Turkey.”

During the session, the Council of Ministers followed up on service projects, infrastructure projects, and lagging projects, and took a number of decisions related to spare orders and implementation, as follows:

1- Increasing the amount of reserve for the project (construction of the Abu Ghar-Tel al-Lahm quarries road with a length of 45 km) within the project (construction of the Abu Ghar-Tal al-Lahm quarries road) included in the investment budget tables of the Ministry of Construction, Housing, Municipalities and Public Works/ among the priority projects related to the implementation of the Council’s decision. Ministers (301 in 2021).

2- Increasing the total cost of the project (study, design and implementation of an integrated concrete water project with a capacity of 1000 m3/hour, with transmission lines to the Umm Qasr district).

3- Increasing the total cost and reserve amount for the project (reconstruction of Al-Fayhaa Bridge in Basra).

4- Increasing the total cost and reserve amount for the project (Fallujah Third Bridge and its approaches in Anbar Governorate).

5- Increasing the total cost and the amount of reserve for the project (constructing the Juwaiba-Al-Hamidiyah (Al-Mamoun) Bridge).

6- Increasing the total cost and the amount of reserve for the project (completion of the rehabilitation and expansion of Karbala Children’s Hospital/second phase).

7-Developing a project (supervision and control for the establishment of Shatrah General Hospital with a capacity of 200 beds and furnishing), within the total cost of the project.

8- Increasing the amount of reserve for the project (constructing the second corridor of the Batira - Al-Fajr - Al-Budair road, with a length of (163) km, the first phase within Maysan Governorate, with a length of (72) km, increasing the total cost of the project, and creating a project called (the two concrete Sababat bridges).

9- Creating a project called (removing optical cable conflicts for the Sababat Bridges).

10- Increasing the total cost and the amount of reserve for the project (establishing the Palace of Justice in Najaf Al-Ashraf).

He continued, "In order to make room for outstanding students of institutes to complete university studies, the recommendation of the Ministerial Council for Human Development (24011 B) for the year 2024 was approved regarding increasing the acceptance rate of top students who graduate from technical institutes from (10%) to (20%)."

For admission exclusively to universities, and to the corresponding or nearby specializations, in order to allow students who are graduates of the institutes to apply to complete their initial university studies.”

He continued, "The Council decided to exclude the backup network project, and the project to rehabilitate and develop the paths of the national optical cable network, from the contracting methods stipulated in the Contract Implementation Instructions No. 2 of 2014, for the purposes of the national mobile phone license, in order to meet the increasing requirements of state institutions for digital transformation projects and secure the needs of... Mobile companies, state institutions, and citizens benefit from the increased Internet capacity, fiber optic projects (FTTH), an alternative to copper landlines, and international transit projects for Iraq.”

He pointed out that "the Council approved the recommendation of the Ministerial Council for the Economy (24131 Q), which included approval of the request of the Ministry of Oil, regarding the issue of converting gas compressors from temporary to permanent customs entry for the benefit of the Basra Gas Company, and the General Authority of Customs transferring gas compressors with (14) compressors from A temporary customs entry to a permanent one,

for the benefit of the Basra Gas Company, provided that it is among its assets (the share of the South Oil Company (51%) in accordance with Council of Ministers Resolution (446 of 2012), and payment of the resulting expenses, in accordance with the law, and borne by the Basra Gas Company.” .

He added, "In the field of energy, the Council approved the signing of a memorandum of understanding for associated gas to generate electric power between the Ministry of Electricity and Siemens Energy. It also approved the inclusion of the projects required to be implemented by the Ministries (Planning and Finance) in accordance with the aforementioned memorandum of understanding and the availability of the necessary allocations and funding."

The Council voted to grant the Ministry of Electricity the necessary powers to proceed with implementation, as an exception to the contracting methods stipulated in the Instructions for Implementing Government Contracts (2 of 2014), in a way that ensures speedy completion and achieving the desired goal of signing the aforementioned memorandum of understanding.

He pointed out that, "In the same vein, the Council canceled Cabinet Resolution No. (308 of 2019), which included financing the Ministry of Electricity with the necessary allocations to establish a secondary station (400) KV, and financing three (132) KV stations with lines, provided that they are of Outside the Ministry's budget.

The statement confirmed, “The Council approved the draft law to cancel the (defunct) Revolutionary Command Council’s Decision No. (103) on January 27, 1988, which was reviewed by the State Council, and approved referring the draft law to the House of Representatives based on the provisions of the Constitution, as the aforementioned decision had He merged the Department of Relations and the Department of Planning into one department, and abolished administrative formations in the Ministry of Justice.

He also abolished the Department of Estate Affairs in the Directorate for the Welfare of Minors, abolished its jurisdiction to release estates in accordance with the Law for the Care of Minors, and entrusted the release of estates to the personal status courts.

He stated that "the draft law for the first amendment to the Martyrs Foundation Law No. 2 of 2016 was approved, which was reviewed by the State Council and referred to the House of Representatives, based on the provisions of the Constitution, taking into consideration the observations that were presented at the Council of Ministers meeting."

He continued, "The Council of Ministers granted the Deputy Prime Minister and Minister of Planning the authority to negotiate and sign a memorandum of understanding between the Ministry of Planning in the Republic of Iraq and the United Nations Population Fund (UNFPA), based on the Treaty Contracting Law (35 of 2015), and the Ministry of Foreign Affairs prepared the necessary authorization document."

On behalf of the Government of the Republic of Iraq, the Deputy Prime Minister and Minister of Planning, in accordance with the approved contexts, and submitting it to the General Secretariat of the Council of Ministers in order to obtain the signature of the Prime Minister.

The Council decided, according to the statement, “It was decided to authorize the Minister of Justice to negotiate and sign two draft cooperation agreements between the Government of the Republic of Iraq and the Government of the Republic of Italy, and between the Government of the Republic of Iraq and the Government of the Republic of Uzbekistan, in the field of transferring those sentenced to custodial sentences, based on the provisions of the Constitution, and to prepare a Ministry Foreign Ministry:

The necessary authorization document on behalf of the Government of the Republic of Iraq for the Minister of Justice, in accordance with the approved contexts, and submitting it to the General Secretariat of the Council of Ministers to obtain the signature of the Prime Minister.

Views 101 04/23/2024 - https://economy-news.net/content.php?id=42757

To read more current and reliable Iraqi news please visit :  https://www.bondladyscorner.com/

Provoking Points To Ponder on Failures and Mistakes

We will be victorious if we have not forgotten how to learn.- Rosa Luxemburg

It is the true nature of mankind to learn from mistakes, not from example.- Fred Hoyle

The psychotherapist learns little or nothing from his successes. They mainly confirm him in his mistakes, while his failures, on the other hand, are priceless experiences in that they not only open up the way to a deeper truth, but force him to change his views and methods.- Carl Jung

Failure ... is, in a sense, the highway to success, inasmuch as every discovery of what is false leads us to seek earnestly after what is true, and every fresh experience points out some form of error which we shall afterward carefully avoid.- John Keats

We need to teach a highly educated person that it is not a disgrace to fail and that he must analyze every failure to find its cause. He must learn how to fail intelligently, for failing is one of the greatest arts of the world.- Charles F. Kettering

When a man is pushed, tormented, defeated, he has a chance to learn something; he has been put on his wits; on his manhood; he has gained the facts; learned his ignorance; is cured of the insanity of conceit; has got moderation and real skill.- Ralph Waldo Emerson

http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Tuesday Evening 4-23-24

Goldilocks' Comments and Global Economic News Tuesday Evening 4-23-24

Good Evening Dinar Recaps,

"HANOI (Bloomberg): Vietnam’s central bank said it sold dollars to some banks, intervening in the foreign exchange market as the currency fell to a record low."

Today, Vietnam did a currency intervention. They sold some of their dollars to some banks. Let's take a look at why this move was made and why it makes sense.

Vietnam is currently applying for the BRICS system. The need to hold dollars in trade going forward does not make as much sense anymore. It would make more sense to hold the trading currency of the BRICS system that will carry enough weight to justify new Dong rates going forward.

At the same time, the BRICS Nations have a requirement that Nations who join them own gold. Gold increases the net worth of a country's own currency, and backing in Gold will enable Vietnam to trade under a Gold Standard.

You will notice in an article below that Vietnam has begun buying more Gold.

Currently, Europe and the US carry a lot of weight in trading values through the WTO. China and other countries who are part of the BRICS system are edging up to near-similar levels of trade that will equate the US and Europe.

This will level the playing field for countries such as Vietnam, and it makes sense for them to begin dumping their dollars for currencies inside the BRICS Nations and Gold.

Holding these new reserves in the BRICS Nations will allow Vietnam to raise the value of their currency through new trading mechanisms inside the new digital economy and more holdings in Gold.

The Star   RT Business   Investopedia1   JP Morgan  Investopedia2  The Investor VN  Vietnam Investment Review 

"All roads lead to gold, and 'digital gold' will set us free."

© Goldilocks

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The Commodities Futures Trading Commission has issued an announcement.

The CFTC is extending the comment period for new rules being applied on the swap execution facilities.

This affects the DCMs in Part 37 and 38. The Designated Contract Markets are boards of trade (or exchanges) that operate under the regulatory oversight of the CFTC.

"The proposed rule was published in the Federal Register on March 19, 2024. It had a 60-day comment period scheduled to close on April 22, 2024."

The following is what was considered in yesterday's meeting.

"Final Rule: Capital and Financial Reporting Requirements for Swap Dealers and Major Swap Participants

Final Rule: Adopting Amendments to the Large Trader Reporting Rules for Futures and Options"

May 13th, 2024 is the deadline for this comment period. At that time, we will be able to move forward with the final rules on executing foreign currency exchange swaps.  The final rule is the implementation phase.  CFTC1  CFTC2  CFTC3  CFTC4   Federal Register    Investopedia    CFTC5

© Goldilocks

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A new round of sanctions are being applied to Venezuela and their oil economy.

This article speaks of Venezuela moving to other payment methods such as cryptocurrencies as preferred payments.

This will shift payments from the dollar to new digital asset opportunities for this country.

It is a growing trend and opportunity for countries who wish to exercise their Sovereignty going forward. Reuters

© Goldilocks

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"Therefore, trading of foreign currency futures contracts, or options thereon, is lawful if it occurs on designated contract markets or derivatives transaction execution facilities."

* Designated Contract Markets (DCM)

* Derivatives Transaction Execution Facilities

Please ask if the facility you are trading at is one of the two above-approved designated exchange facility.

It will not be a legal facility to exchange your currency in unless it is. By the way, a bank is a designated facility that encompasses both of the above criteria and requirements.   CFTC

© Goldilocks

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👆One more thing, these designated facilities (banks) do have 1-800 #s.

Just look on the back of your debit card or call your bank if you have any further questions.

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Jim Willie: 'Gold's The Safe Haven When There's No Escaping The Debt Default' | Youtube

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The BRICS economic union is currently in the process of creating a single financial system in 2024 to facilitate trade within the bloc without using the US dollar.

Such an idea would be crucial to the implementation of the BRICS plans. Specifically, the effect of its de-dollarization would be greatly enhanced by a financial system that brings together the possibilities of using digital currencies. Moreover, it increases pressure on the dollar, which the US has already assured will not get a digital counterpart.    Crypto Dnes

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Kremlin says Russia and China have almost abandoned the dollar in trade

Russia and China have almost completely abandoned the US dollar in their mutual settlements, and more than 90% of transactions between the two countries are now carried out in their national currencies. | UNN

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The Copper Supply Shortage Is Here | SchiffGold

👆 Keep saving those copper nickels and pennies...

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The movement from brick and mortar sales continue to melt down as the online sales for the same merchandise is continuing to climb. | Wolf Street

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Vietnamese furniture products introduced at Milan Design Week - EIN Presswire

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Vietnam to have opportunities from digitalisation, green transformation: IMF | VOV VN

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Factors influencing Vietnam’s FMCG market | VOV VN

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Vietnam surpasses India, Thailand to become Singapore’s top rice supplier - VnExpress International | VN Express 

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Billionaire-Owned Media Has Gone Full Throttle to Save Fellow Billionaire, Jamie Dimon |  Wall Street on Parade

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Copper pennies at $3.00. Right NOW? | Youtube

👆  Goldilocks pointed to this article

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MESSAGE FROM SAM OLIVER ON COPPER

LISTEN HERE:

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Generative A.I. Arrives in the Gene Editing World of CRISPR   |  The New York Times

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A new legislation to regulate stablecoins filed in the US Senate may benefit the issuers as reported by investment banking firm TD Cowen.  | Crypto Times

👆 more on this tomorrow...

~~~~~~~~~

  ‘‘Lummis-Gillibrand Payment Stablecoin Act’’  

LIP24254.pdf CLICK HERE

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Ripple Offers to Pay SEC Penalty For XRP | Youtube

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