“Tidbits From TNT” Saturday 4-27-2024

TNT:

Tishwash:  In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “important” meeting

 The State Administration Coalition is scheduled to hold an “important” meeting this evening, Saturday, in the presence of the President of the Kurdistan Region, Nechirvan Barzani, and the Prime Minister of the Federal Council, Muhammad Shia al-Sudani.

An informed political source told Shafaq News Agency that the meeting will include discussing a number of political and security files.

Last Wednesday, Kurdistan Regional Presidency spokesman Dilshad Shihab said that the region's president, Nechirvan Barzani, will visit Baghdad soon to attend a regular meeting of the state administration coalition.

At the beginning of this April, the President of the Iraqi Kurdistan Region made a visit to the capital, Baghdad, during which he met with the President of the Republic of Iraq, Abdul Latif Rashid, and the Prime Minister of the Iraqi Federal Prime Minister, Muhammad Shia al-Sudani, and participated in the meeting of the State Administration Coalition and the Coordination Framework.

During his last visit, President Nechirvan Barzani discussed ways to solve the problems of Erbil and Baghdad, the political situation in Iraq and the Kurdistan Region, and a group of other issues.   link

Tishwash:  Governmental and private banks will showcase their services during Financial Inclusion Week

Governmental and private banks are preparing to participate tomorrow, Saturday, in Financial Inclusion Week.

The electronic payment systems will review banking services for citizens, including advances and loans, and introduce them to the products offered by these banks in a step to enhance financial inclusion.  link

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Tishwash: The Association of Private Banks appreciates the efforts of the government and the Central Bank to create understandings with the Treasury, the Federal Reserve, and international banks

The head of the Iraqi Private Banks Association, Wadih Al-Handal, participated in the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut. 

Al-Handal stressed that the forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq, adding that Iraq is still facing major challenges, at various economic levels, including depriving the Iraqi private banking sector of using the dollar, which It has exceeded half of the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts of Iraqi governmental and private institutions to comply with local and international anti-money laundering and terrorist financing laws, but for the first time we are witnessing a clear targeting of the sector, which has begun to affect banking services inside the country, undermine citizen confidence, and hinder... From expanding the proportion of financial inclusion.

He added that these challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations and Arab banks in coordinating positions and confronting dangers together, noting that our meeting represents an opportunity to cooperate and agree on an action roadmap for the future. Targeting the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil.

Al-Handal pointed out that the Association of Private Banks is working with the Iraqi government, the Central Bank, and some local and international institutions, to save the banking sector, and return banks deprived of dealing in dollars to their activities, but this is not enough, but rather requires continuing cooperation with the Arab and foreign banking sector, because the stage of integrating the sector The Iraqi banker with his Arab counterpart must begin quickly, and we are taking great strides in this direction, especially since the Prime Minister, Engineer Muhammad Shiaa Al-Sudani, held dialogues in Washington with the American President and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing. in dollars and support the private banking sector.

Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value.

He pointed out that Iraq is witnessing great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance. link

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Tishwash:  Association of Banks: Iraq is witnessing great development in the transition to electronic government

The Iraqi Private Banks Association confirmed today, Friday, that Iraq is witnessing great development in the transition to electronic government, and while it indicated that government support for the Iraqi dinar led to a gradual increase in its value, it revealed a trend to increase the number of electronic banks to keep pace with technological development and increase performance. .

The president of the association, Wadih Al-Handal, told the Iraqi News Agency (INA) that he “participated in the Arab Economic Security Forum organized by the Union of Arab Banks in Beirut,” pointing out that “the forum is being held in complex circumstances and geopolitical changes taking place in the region, and the banking sector has begun to be affected.” Arab, starting with the State of Iraq.

He added, "Iraq is still facing major challenges at various economic levels, including depriving the Iraqi private banking sector of using the dollar, which has exceeded half the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts of Iraqi governmental and private institutions to comply with laws against money laundering and terrorist financing." Local and international, but for the first time we are witnessing a clear targeting of the sector, which has begun to affect banking services within the country, undermine citizen confidence, and hinder the expansion of financial inclusion.”

He pointed out that "these challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations and Arab banks in coordinating positions and confronting dangers together," noting that "our meeting represents an opportunity to cooperate and agree on an action roadmap for the future." “The targeting of the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil.”

He pointed out that "the Association of Private Banks is working with the Iraqi government, the Central Bank, and some local and international institutions, to save the banking sector and return banks deprived of dealing in dollars to their activities, but this is not enough. Rather, it requires continuing cooperation with the Arab and foreign banking sector, because the stage of merging the banking sector The Iraqi government and its Arab counterpart must begin quickly, and we are taking great steps in this direction, especially since Prime Minister Muhammad Shiaa al-Sudani held dialogues in Washington with the American president and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing in dollars and supporting...

The private banking sector.Al-Handal praised "the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value."

He continued, "Iraq is witnessing a great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance." link

Wellllllllllllllllll - Finally We Knows WHY!!!! 

Mot: . Might as well have fun. 

Iraq Economic News and Points to Ponder Friday Evening 4-26-24

Iraq Economic News and Points to Ponder Friday Evening 4-26-24

Governmental And Private Banks Will Showcase Their Services Tomorrow During Financial Inclusion Week

Time: 04/26/2024 Read: 1,742 times {Economic: Al-Furat News} Governmental and private banks are preparing to participate tomorrow, Saturday, in Financial Inclusion Week.

The electronic payment systems will review banking services for citizens, including advances and loans, and introduce them to the products offered by these banks in a step to enhance financial inclusion. LINK

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

 Economy| 05:04 - 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   

The Association of Private Banks appreciates the efforts of the government and the Central Bank to create understandings with the Treasury, the Federal Bank, and international banks 

Economy News – Baghdad  The head of the Iraqi Private Banks Association, Wadih Al-Handal, participated in the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut.

Al-Handal stressed that the forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq, adding that Iraq is still facing major challenges, at various economic levels,

including depriving the Iraqi private banking sector of using the dollar, which It has exceeded half of the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts of Iraqi governmental and private institutions to comply with local and international anti-money laundering and terrorist financing laws,

but for the first time we are witnessing a clear targeting of the sector, which has begun to affect banking services inside the country, undermine citizen confidence, and hinder... From expanding the proportion of financial inclusion.

He added that these challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations and Arab banks in coordinating positions and confronting dangers together, noting that our meeting represents an opportunity to cooperate and agree on an action roadmap for the future.

Targeting the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil.

Al-Handal pointed out that the Association of Private Banks is working with the Iraqi government, the Central Bank, and some local and international institutions, to save the banking sector, and return banks deprived of dealing in dollars to their activities, but this is not enough, but rather requires continuing cooperation with the Arab and foreign banking sector, because the stage of integrating the sector The Iraqi banker with his Arab counterpart must begin quickly, and we are taking great strides in this direction, especially since the Prime Minister, Engineer Muhammad Shiaa Al-Sudani, held dialogues in Washington with the American President and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing. in dollars and support the private banking sector.

Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value.

He pointed out that Iraq is witnessing great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance.

Views 144  04/26/2024 - https://economy-news.net/content.php?id=42858

With The Participation Of The Association Of Private Banks, Investment Opportunities Are On The Table Of A Jordanian-Iraqi Economic Forum Next May

Money  and business  Economy News – Baghdad  The activities of the Economic Forum for Financial, Industrial and Commercial Partnerships between Iraq, Jordan and the region will begin on the fifth of next May, organized by the Iraqi Business Council in Amman, amid great official interest and broad participation from the public and private sectors in the two countries and countries in the region.

According to a statement by the Council, the ministers of industry and electricity from Iraq will participate in the forum, which is organized by the Council in cooperation with the Jordanian and Amman Chambers of Industry, and will be opened at the King Hussein Convention Center in the Dead Sea region, along with ministers from Jordan, business owners, investors, and Arab and foreign companies.

Participating in the forum are also the National Investment Authority in Iraq, the Arab Businessmen Union, the Multilateral Investment Guarantee Agency and the International Finance Corporation of the World Bank Group, the Association of Information and Communications Technology Companies (Intaj), the Association of Iraqi Private Banks, the Jordanian Banks Association, and the Jordanian Corporation for Economic Enterprise Development. (JEDCO), and the Jordanian free and development zones.

The Council organizes the two-day forum, which includes an exhibition for companies and bilateral meetings with decision-makers from the two countries, on the occasion of the Kingdom’s celebrations of the silver jubilee of His Majesty King Abdullah II assuming his constitutional powers.

The forum's working sessions focus on the most prominent investment opportunities in Jordan and Iraq, the prospects for commercial and industrial opportunities in the two countries, the vision of economic modernization, investment in Iraq, investment opportunities in the region, in addition to investment opportunities in the Jordanian free and development zones.

The sessions also focus on the role of the banking sector in providing financial facilities to the industrial, energy, mining, transportation and infrastructure sectors, the role of international institutions in providing financial financing for investment projects, and presenting success stories of Jordanian and Iraqi investment companies.

The Forum seeks to enhance regional integration by building economic interconnection, enhancing cooperation in various sectors, building long-term partnerships, creating sustainable partnerships, deepening mutual understanding between participating countries, and building a common vision for the future of economic prosperity and development in the region.

Views 177 04/26/2024 - https://economy-news.net/content.php?id=42859

Oil Is Heading To End The Week On The Rise

Economy |  04/26/2024  Mawazine News – Baghdad  Oil prices rose on Friday, and are heading to end the week on a higher note after two consecutive weekly losses, in the wake of a senior American official expressing optimism about economic growth and with continuing concerns about supplies as a result of conflicts in the Middle East.

Brent crude futures rose 19 cents, or 0.2 percent, to $89.20 per barrel, and US West Texas Intermediate crude futures increased 25 cents, or 0.3 percent, to $83.82 per barrel.

Brent is up 2.2 percent since the beginning of the week, while West Texas Intermediate has advanced 0.8 percent.

US Treasury Secretary Janet Yellen told Reuters on Thursday that US GDP growth in the first quarter of the year may be subject to an upward adjustment and that inflation will decline after a group of “distinctive” factors that pushed the economy to its weakest performance in nearly two years.

It is likely that US economic growth will be stronger than indicated by the quarterly data, which was weaker than expected.

Data showed that economic growth slowed in the first quarter.

Before Yellen's statements, oil prices were affected by accelerating inflation, as this prompted investors to rule out a reduction in interest rates by the US Federal Reserve before September.

The data indicated that the price index for personal consumption expenditures, excluding food and energy, rose at an annual rate of 3.7 percent, compared to 2 percent in the last quarter of 2023.

Tamas Varga, an analyst at PVM Oil, said: “US GDP growth is 1.6 percent.” percent, which came below expectations, may also be considered a welcome development that confirms the effectiveness of recent monetary tightening, but it was the personal consumption expenditures price index that moved sentiment.”

On the other hand, prices received support early in the session in light of concerns about supplies as tension continues in the Middle East.   https://www.mawazin.net/Details.aspx?jimare=246756

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

 Provoking Points To Ponder on Failures and Mistakes

Apparent failure may hold in its rough shell the germs of a success that will blossom in time, and bear fruit throughout eternity.- Frances Ellen Watkins Harper

The causes of mistakes are "I didn't know"; "I didn't think"; and "I didn't care."- Henry H. Buckley

Failures are divided into two classes: those who thought and never did, and those who did and never thought.- John Charles Salak

A failure establishes only this, that our determination to succeed was not strong enough.- Christian Bovee

Self-distrust is the cause of most of our failures. They are the weakest, however strong, who have no faith in themselves or their own powers.- Christian Bovee

Defeat is a thing of weariness, of incoherence, of boredom.- Antoine de Saint-Exupery

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Friday Evening 4-26-24

Goldilocks' Comments and Global Economic News Friday Evening 4-26-24

Good Evening Dinar Recaps,

MICA Announcement:

"This summer, the first part of the EU’s MiCA Regulation will come into effect. Financial institutions (FIs) that are currently engaged in or exploring crypto assets will need to make operational adjustments."

Markets in Crypto Assets (MICA) are finally coming to the final stages of completion for the QFS. Financial institutions seeking to participate on the new Digital System will be going through a regulatory process.

These MICA Regulations that will come to a conclusion on May 28th, 2024 in Europe will create a crypto-asset white paper. This white paper will report and create a set of guidelines for all countries to follow going forward in building their Quantum Technological Regulations

Financial institutions around the world will have until December 2024 to integrate their Quantum Technologies to the new Digital Asset Based Trading System. At that time, the new QFS will be operational Globally.

Here is what will be worked on between now and the end of the year:

* how financial values are stored and transacted (stablecoins)
* Movement from T+1 to T+0 instant payments in cross-border transactions
* Reducing counterparty risks
* Counteracting payment frauds

Many Credit Valuation Adjustments will be taking place between now and that time when the Global Currency Reset will come into play.

This is it folks. I know no one wants to hear this at this time. Yet, we are working with the United States, Europe, and the BRICS Nations aligning themselves with payment systems and tokenized assets that will govern our new Global Economy.

It's been a long journey, but we are in the final stages. And, it is important that we pay close attention between now and Christmas to changes that can possibly move up these banking timelines.

As far as currencies are concerned, they will need to begin shifting at some point between now and Christmas. They may come as a float, become volatile, partial revaluation in some countries, but I expect final prices on these currencies or complete revaluations to come late to early next year.

There are three phases to this final process. I will be helping you to understand where we are as we move to each stage. The first two have to be done by Christmas. The last one is a continuation of the first two that has more to do with reporting procedures than payment processes.

In the meantime, we will clearly have Digital Assets moving into real values. This first RV is at the beginning stages of development right now.

You would do yourself a favor to find a good friend who understands what cryptos are going to be used in the next Financial System. You will be glad that you did.   EY

© Goldilocks

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SEBI Announcement:

"SEBI Proposes Framework for Price Discovery of Investment Companies"

Between now and the end of the year, SEBI has recommended that our new tokenized assets go through what is called a price discovery.

Securities and Exchange Board of India has made the above recommendation for their financial markets. In reality, this is what will be taking place around the world as well.

Price Discovery is when the markets synchronize their new price actions or correlations with each other based upon supply and demand.

Supply and demand recognize price actions that correspond with assessments on companies and those who buy their products' actual ability to pay for items on the market.

In other words, we are about to go through what is called fair market valuations. This will include all sectors of the market including Forex.    Indian Express    IG

© Goldilocks

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IBM to buy HashiCorp in $6.4 billion deal to expand in cloud

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A MESSAGE FROM SAM OLIVER ON SILVER

LISTEN HERE:

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Franklin Templeton Announces Availability of Peer-to-Peer Transfers for Franklin OnChain U.S. Government Money Fund | Business Wire

These Franklin Templeton assets that are tokenizing US Treasuries will have a correlating effect on gold and other commodities.

The tokenization of US Treasuries through Franklin Templeton Digital Assets will have their connection to the commodity sector giving them real values going forward.

This will be part of the credit valuation adjustments that will be taking place in the months ahead to give new price action adjustments on a new economy.

Everything is being tokenized, and within each of these tokens will be a corresponding commodity to give it a real price value for the QFS able to compute and regulate real-world assets.

© Goldilocks

👆 We are witnessing our markets transform into a new digital economy.

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

© Goldilocks

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Stellar The New Star: Analyst Predicts $0.47 Price Target | News BTC

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Interior Department Implements Reforms in Federal Oil and Gas Leasing Regulations | The Presidential Prayer Team

"These are the most significant reforms to the federal oil and gas leasing program in decades, and they will cut wasteful speculation, increase returns for the public, and protect taxpayers from being saddled with the costs of environmental cleanups,” said Secretary Deb Haaland. “These reforms will help safeguard the health of our public lands and nearby communities for generations to come.”

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Kalp Foundation Partners with Router Protocol to Facilitate Cross-Chain Interoperability of Real-World Assets |  CXO Today

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Q1 GDP Report Preview: What the Data Could Tell Us About the U.S. Economy | InvestorPlace

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Law of Supply and Demand in Economics: How It Works | Investopedia

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Jim Willie: 20 Reasons For Gold Price Breakout | Youtube

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IBM to buy HashiCorp in $6.4 billion deal to expand in cloud, Telecom News, ET Telecom

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Fed seeks 8,000 financial institutions for FedNow | Banking Dive

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Granting waivers on Iranian oil only emboldens the ayatollahs | The Hill

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Gold Could Hit $40,000 Per Ounce – Here’s How! | Lynette Zang Youtube

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"National Bank of Iraq goes live with Temenos core banking and payments"

Will they work with Ripple? Probably...

More on this tomorrow...

© Goldilocks

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Some “Friday News” Posted by Clare at KTFA 4-26-2024

KTFA:

Clare:  Governmental and private banks will showcase their services tomorrow during Financial Inclusion Week

4/26/2024

Governmental and private banks are preparing to participate tomorrow, Saturday, in Financial Inclusion Week.

The electronic payment systems will review banking services for citizens, including advances and loans, and introduce them to the products offered by these banks in a step to enhance financial inclusion.   LINK

Clare:  Parliament does not know the reason for the delay in sending the 2024 budget schedules: Voting takes time

4/26/2024   Baghdad

The Finance Committee in the Iraqi Parliament confirmed today, Friday (April 26, 2024), that the government was very late in sending the 2024 budget disbursement schedules.

Committee member Jamal Kujar told “Baghdad Today” that “we are very close to entering the middle of the fiscal year, and so far the government has not sent us the 2024 budget spending schedules,” noting that “voting on it requires time by Parliament for the purpose of studying or amending it.”

Koger stated, “We do not know what the reasons were that prompted the government to all this delay in sending the budget schedules, even though it cannot spend any of the amounts, especially for projects and others, until after Parliament votes on those schedules. “

It is noteworthy that the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, confirmed on Sunday (April 21, 2024) that the House of Representatives is awaiting the arrival of the current year’s budget schedules during this month.

Al-Atwani said in a statement received by Baghdad Today, “The Finance Committee is awaiting the arrival of the 2024 budget schedules during this month, in order to discuss them and approve their allocations.” 

On the other hand, Al-Atwani stressed that “Parliamentary Finance is keen to support and encourage the private sector and provide incentives to attract investment companies.”

Last March, Finance Minister Taif Sami announced that the tables had been completed and sent to the Council of Ministers for the purpose of voting on them, according to an official statement.   LINK

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Clare:  From Dammam to Najaf.. Saudi Arabia announces an increase in flights with Iraq

4/26/2024

Saudi Civil Aviation announced that it will operate direct flights to Iraq, starting next June 1.

The Saudi Civil Aviation said in a statement followed by {Al-Furat News} agency, “Based on the national strategy for the aviation sector in the Kingdom, which aims to double the response capacity and reach more than 330 million passengers annually, and more than 250 destinations in the world, and as an extension of the close relations that...

Connecting the Kingdom with the sister Republic of Iraq, we announce the operation of direct flights from the city of Dammam in the Kingdom to the city of Najaf in the Republic of Iraq, in addition to flights to both the cities of Baghdad and Erbil in the Republic of Iraq, starting on Saturday, June 1, 2024.   LINK

**

Clcare: The Association of Private Banks appreciates the efforts of the government and the Central Bank to create understandings with the Treasury, the Federal Bank, and international banks

4/26/2024

The head of the Iraqi Private Banks Association, Wadih Al-Handal, participated in the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut.

Al-Handal said in his speech, “The forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq,” adding that Iraq is still facing major challenges, at various economic levels, including the deprivation of the Iraqi private banking sector.

 From the use of the dollar, which exceeded half the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts of Iraqi government and private institutions to comply with local and international anti-money laundering and terrorist financing laws, but for the first time we are witnessing a clear targeting of the sector that has begun to affect banking services inside the country, It undermines citizen confidence and hinders the expansion of financial inclusion.

He added that these challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations and Arab banks in coordinating positions and confronting dangers together, noting that our meeting is taking place. "It represents an opportunity for cooperation and agreement on a work roadmap for the future, as targeting the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil."

Al-Handal pointed out that “the Association of Private Banks is working with the Iraqi government, the Central Bank, and some local and international institutions, to save the banking sector, and return banks deprived of dealing in dollars to their activities, but this is not enough, but rather requires continuing cooperation with the Arab and foreign banking sector, because the stage of merging... The Iraqi banking sector with its Arab counterpart must begin quickly, and we are taking great strides in this direction, especially since Prime Minister Muhammad Shia al-Sudani held dialogues in Washington with the American President and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing. in dollars and support the private banking sector.”

Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value.

He pointed out that Iraq is witnessing great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance.LINK

Clare: With the participation of the Association of Private Banks, investment opportunities are on the table of a Jordanian-Iraqi economic forum next May

4/26/2024  Baghdad

The activities of the Economic Forum for Financial, Industrial and Commercial Partnerships between Iraq, Jordan and the region will begin on the fifth of next May, organized by the Iraqi Business Council in Amman, amid great official interest and broad participation from the public and private sectors in the two countries and countries in the region.

 According to a statement by the Council, the ministers of industry and electricity from Iraq will participate in the forum, which is organized by the Council in cooperation with the Jordanian and Amman Chambers of Industry, and will be opened at the King Hussein Convention Center in the Dead Sea region, along with ministers from Jordan, business owners, investors, and Arab and foreign companies.

Participating in the forum are also the National Investment Authority in Iraq, the Arab Businessmen Union, the Multilateral Investment Guarantee Agency and the International Finance Corporation of the World Bank Group, the Association of Information and Communications Technology Companies (Intaj), the Association of Iraqi Private Banks, the Jordanian Banks Association, and the Jordanian Corporation for Economic Enterprise Development. (JEDCO), and the Jordanian free and development zones.

 The Council organizes the two-day forum, which includes an exhibition for companies and bilateral meetings with decision-makers from the two countries, on the occasion of the Kingdom’s celebrations of the silver jubilee of His Majesty King Abdullah II assuming his constitutional powers.

 The forum's working sessions focus on the most prominent investment opportunities in Jordan and Iraq, the prospects for commercial and industrial opportunities in the two countries, the vision of economic modernization, investment in Iraq, investment opportunities in the region, in addition to investment opportunities in the Jordanian free and development zones.

 The sessions also focus on the role of the banking sector in providing financial facilities to the industrial, energy, mining, transportation and infrastructure sectors, the role of international institutions in providing financial financing for investment projects, and presenting success stories of Jordanian and Iraqi investment companies.

The Forum seeks to enhance regional integration by building economic interconnection, enhancing cooperation in various sectors, building long-term partnerships, creating sustainable partnerships, deepening mutual understanding between participating countries, and building a common vision for the future of economic prosperity and development in the region.  LINK

“Tidbits From TNT” Friday 4-26-2024

TNT:

CandyKisses:  After the visit of the Sudanese. Will the occupation forces get out?

Information/report.Popular and political hopes were held on Sudanese's visit to Washington in order to remove the occupation forces from the country, while the Sudanese did not mention anything about the file during his video meeting with Biden, as well as Sudanese's favoritism by continuing the American dependency represented In equipping the army with American aircraft, and between supporters and opponents of the visit, its results remain the judgment

 So will we witness a schedule for the exit of US forces from Iraq or will the situation remain as it is.

The resistance factions did not stop resisting, but gave a deadline to the government to resolve the file politically, and in continuous statements by their leaders that their forces are ready in the event that political solutions end and America manipulates the agreements.

Speaking more about the subject, Ali al-Fatlawi, a member of the alliance, said that the resistance factions are still on guard in the event that the agreed US withdrawal does not take place, pointing out that "the stick belongs to those who stick "

Fatlawi said in a statement to the agency / Information / that "the exit of the US occupation from Iraq is necessary as it is a popular and political demand," pointing out that it was one of the most important files discussed by the Sudanese in Washington .He adds that, "Iraq has the stick and the carrot, and if the Sudanese fail to use the carrot, the resistance factions still keep the stick," noting that "whenever there is manipulation on the American side, the factions will use their strength to pressure again."

*Government dutyto that promised MP for the Conquest Alliance Suhaila Sultani, that the file of the exit of the Americans from Iraq is entrusted to the Iraqi government, noting that the House of Representatives has played its role to the fullest and says Sultani in a statement to the agency / information /, that "the House of Representatives has approved a law to prevent the presence of the United States and any foreign forces on Iraqi territory,"

Noting that "the scheduling is related to the government's negotiations with the American side in this file "She adds that, "Sudani's visit discussed this file in Washington and specialized committees have been formed to follow up on the matter, and the withdrawal will take place after the completion of negotiations by those committees."

Observers saw that the Sudanese in his recent visit to Washington had the pressure of the resistance factions as a trump card against the US occupation, which helped to force them to leave the country. 

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Tishwash:  What are the risks of floating the Iraqi dinar to address the double price of the dollar? An economist explains

On Thursday, economic expert Nabil Al-Marsoumi explained the risks of floating the Iraqi dinar to address the double price of the dollar against the dinar and the existence of a large gap between the official and parallel prices.

Al-Marsoumi said in a publication followed by “Jarida”, 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 free floating of the Iraqi dinar, that is, leaving the dinar in the market to find a price for it against foreign currencies through the interaction of supply forces.” And the demand.”

He added, "Such a decision has some economic positives, but the economy should not be taken in its abstract aspect." He added, "Such a decision has some economic positives, but the economy should not be taken in its abstract aspect, but rather insofar as it relates to people, especially the poor among them, and in light of Iraq's lack of “For a national private sector that can 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.”

He continued, “If 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 harm 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.”  link

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Tishwash:  With the participation of the Association of Private Banks, investment opportunities are on the table of a Jordanian-Iraqi economic forum next May

The activities of the Economic Forum for Financial, Industrial and Commercial Partnerships between Iraq, Jordan and the region will begin on the fifth of next May, organized by the Iraqi Business Council in Amman, amid great official interest and broad participation from the public and private sectors in the two countries and the countries of the region. 

According to a statement by the Council, the ministers of industry and electricity from Iraq will participate in the forum, which is organized by the Council in cooperation with the Jordanian and Amman Chambers of Industry, and will be opened at the King Hussein Convention Center in the Dead Sea region, along with ministers from Jordan, business owners, investors, and Arab and foreign companies.

Participating in the forum are also the National Investment Authority in Iraq, the Arab Businessmen Union, the Multilateral Investment Guarantee Agency and the International Finance Corporation of the World Bank Group, the Association of Information and Communications Technology Companies (Intaj), the Association of Iraqi Private Banks, the Jordanian Banks Association, and the Jordanian Corporation for Economic Enterprise Development. (JEDCO), and the Jordanian free and development zones.

The Council organizes the two-day forum, which includes an exhibition for companies and bilateral meetings with decision-makers from the two countries, on the occasion of the Kingdom’s celebrations of the silver jubilee of His Majesty King Abdullah II assuming his constitutional powers. 

The forum's working sessions focus on the most prominent investment opportunities in Jordan and Iraq, the prospects for commercial and industrial opportunities in the two countries, the vision of economic modernization, investment in Iraq, investment opportunities in the region, in addition to investment opportunities in the Jordanian free and development zones.

The sessions also focus on the role of the banking sector in providing financial facilities to the industrial, energy, mining, transportation and infrastructure sectors, the role of international institutions in providing financial financing for investment projects, and presenting success stories of Jordanian and Iraqi investment companies.

The Forum seeks to enhance regional integration by building economic interconnection, enhancing cooperation in various sectors, building long-term partnerships, creating sustainable partnerships, deepening mutual understanding between participating countries, and building a common vision for the future of economic prosperity and development in the region.   link

Mot: Amazing -- Yeppers another good ole ""Marital tip"" fer Ya 

Mot: ... Member! -- Its Not What Ya Say -- Its Just Timing!!!!   

MilitiaMan: Iraqi Dinar – US Treasury Exchange Rates- Focus – Banking Partnerships – Rate Changes – Positivity

Iraqi Dinar – US Treasury Exchange Rates- Focus – Banking Partnerships – Rate Changes – Positivity

MilitiaMan and Crew:  4-26-2025

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=lQnVGqS7HQQ

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

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

The Most Difficult Option.. Warnings Of The Danger Of Floating The Iraqi Dinar Without Achieving An “Important Condition”

 Economy | Baghdad today – Baghdad   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. https://baghdadtoday.news/247930-الخيار-الأصعب.-تحذيرات-من-خطورة-تعويم-الدينار-العراقي-دون-تحقيق-شرط-مهم.html   

Economist: Travelers' Dollars Are Leaking Into The Parallel Market...And This Is What The Central Bank Should Do

 Time: 04/24/2024 Read: 2,925 times   {Economic: Al-Furat News} The economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.  Qusay said {to Al-Furat News} that:

  “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.” 

He added,  "It is assumed that travelers are dealt with through tourism and airline companies, and

 the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from the exchange outlets or banks."  Qusay stressed,

 “This measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.” He stated that

 "the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows," noting that

"the Central Bank's emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it."  Qusay added,

“The Central Bank’s official sales during the previous 10 days rose to $270 million per day, which is an indication of the activation of the electronic platform,” adding,

 “The more we reduce imports and analyze the irregular demand for the dollar, the more stable the dollar’s ​​exchange rate will be.”

 Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.

Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.”

 Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.”  

 https://alforatnews.iq/news/خبير-اقتصادي-دولار-المسافرين-يتسرب-للسوق-الموازي-وهذا-ما-على-المركزي-فعله   

Parliament Talks About The Mechanism For Recovering Smuggled Funds And Hints At The Next Stage

 Politics |Today, 14:07 |  Baghdad today – Baghdad Today, Thursday (April 25, 2024), the Parliamentary Integrity Committee confirmed that there is ongoing work to recover all Iraqi funds smuggled abroad, while indicating that the

 next stage will witness the recovery of funds and more fugitives on charges of corruption and others.

 Committee member Ghareeb Al-Muradli told “Baghdad Today” that

 “there are real efforts by the Iraqi government in addition to the Federal Integrity Commission to recover Iraqi money smuggled as a result of corruption operations, and

 this is very possible because of international cooperation in this file.” Al-Muradli stated,

 "Iraq has good international relations, and through these relations it is able to track its money and follow up on those wanted by it on corruption charges," adding,

 "For this reason, it was able during the last period to arrest a number of fugitives." He stressed that

 "the next stage will witness the recovery of funds and more fugitives on charges of corruption and other charges."

 It is noteworthy that the Parliamentary Integrity Committee commented, Thursday (March 28, 2024), on the activities of the Iraq Assets Recovery Fund and the slowness in recovering that money and some of those accused of fleeing on corruption charges or belonging to the previous regime.

Committee member Duraid Jameel told “Baghdad Today” that

 “there is great and important work for the Iraq Money Recovery Fund and

there is a noticeable increase in the activities of this fund,” adding:

 “But the slowness is not on the part of the Iraqi side, but rather on the part of countries, some of which are procrastinating in Implementing what Iraq demands.” Jamil stated,

  “There are major legal and technical procedures undertaken by the Iraq Assets Recovery Fund, in order to recover smuggled funds or recover some of the fugitive defendants on corruption charges and others,

 but the routine procedures by those countries are what delayed the resolution of many of these activities.”

 A member of the Parliamentary Integrity Committee added,

 "There is no accurate figure for the sums of money smuggled from Iraq abroad, whether through corruption operations or other funds of the former regime,

 but there are government efforts being made to recover all that money, and there are practical steps in this regard."

 Estimates indicate that the funds smuggled abroad amount to approximately $350 billion over the past twenty years, while

the Integrity Commission is working to recover some of the funds from other countries or recover the accused, but

some countries refuse to recover some of the corruption funds smuggled over the past years because they have entered into the economic cycle or Existing projects in those countries, according to observers.    

https://baghdadtoday.news/247914-البرلمان-يتحدث-عن-الية-استعادة-الأموال-المهربة-ويلمح-الى-المرحلة-المقبلة.html  

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

 Political| 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   

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

 Provoking Points To Ponder on Failures and Mistakes

Learn to see in another's calamity the ills which you should avoid.- Publilius Syrus

A man is fortunate if he encounters living examples of vice, as well as of virtue, to inspire him.- Brendan Francis

The line between failure and success is so fine that we scarcely know when we pass it; so fine that we are often on the line and do not know it.- Elbert Hubbard

A series of failures may culminate in the best possible result.- Gisela Richter

Failure is that early morning hour of darkness which precedes the dawning of the day of success.- Leigh Mitchell Hodges

People fail forward to success.- Mary Kay Ash 

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

http://famousquotesandauthors.com/quotes_by_topic.html

Goldilocks' Comments and Global Economic News Thursday Evening 4-25-24

Goldilocks' Comments and Global Economic News Thursday Evening 4-25-24

Good Evening Dinar Recaps,

China's Payment Regulations Announcement:

On December 9, 2023, Chinese Premier Li Qiang signed Decree No. 768 of the State Council.

The People's Bank of China is giving us a look at their implementation rules for their new payment regulations.

It covers risk management, e-commerce, faster mobile and computer payments, connections between central depository institutions, banking systems, monetary policies, guidelines, management of payment rules between Financial institutions, and various types of accounts.

After implementation, these new regulations will be sent to Clearing House Institutions for Network inclusion and compliance directives to enforce this new payment system.  This decree is China's regulations on the Supervision and Administration of Non-Bank Payment Institutions.

A non-bank entity provides similar services to a bank, but they do not hold a banking license. This merges the new Digital Economy with the Traditional Markets and Banking System inside our new digital economy.   Peoples Bank of China

It will go into effect on May 1, 2024.

© Goldilocks

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Japan is the fourth-largest export market and trading partner of the United States with a 68 billion trading deficit.

Why this partnership is so important comes of its connection to US Dollars held within their accounts to support the Yen.

Japan is giving an imminent warning that they are going to have to prop up their currency by intervening into the markets.

This means they will be selling their dollars that they have bought over the years to support the Yen from continuing to fall in its price.

As the yen begins the process of leveling the playing field between the price of the dollar against the yen, it will begin to affect the global markets as well.

This move will cause trading deficits and appreciation with other countries around the world as the Yen begins to rise in its price.

Eventually, the move toward more reliance on their Basel 3 compliant policies over the dollar will stabilize the Yen as these temporary measures go into effect.

As we have spoke of recently in this room, we are moving into credit valuation adjustments. This is going to be a big one because of so many trading contracts take place between the US and Japan.

Volatility in the currency markets are about to begin, and they will end with the stabilization of all currencies based upon real values connected to them through gold.

If you think the recent actions to regulate and place laws on Stablecoins is a coincidence, you might want to look again.   Reuters 1   Reuters 2   Trade

© Goldilocks

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This Louisiana Man Collected Over Half a Million Pennies in 45 Years | ABC News

I wish he would have sold it to an exchange center instead of a bank. Can you imagine how much he really lost on this exchange.

Copper is now a critical mineral and a global shortage metal. Know what you hold my friends. Know it's worth.

A wise investor explores exchange options.

👆4.49 per lb×2800 lb of copper= $12,572

The above is copper's current actual worth. The bank gave this man...$5,136. He lost over $7,000 on this deal.

Do your own research my friends.

© Goldilocks

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👆 Can you imagine how much this man would have had if he waited until next year to sell his copper? So sad.

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Nonbank Financial Institutions: What They Are and How They Work | Investopedia

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Stablecoin News: Top Democrat Predicts Imminent Deal On Stablecoin Regulation | Coingape

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Stablecoin Bill Could Be Ready for the U.S. House Soon Says Top Democrat Maxine Waters: Bloomberg

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Venezuela demands oil purchases to be paid in #USDT to Bypass U.S Sanctions 🤨 | Twitter

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What are the Bretton Woods 3 institutions? | UN

* International Monetary Fund (IMF)
* International Finance Corporation (IFC)
* Multilateral Investment Guarantee Agency (MIGA)
* The World Bank.
* The World Trade Organization (WTO)

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Ripple to Use Stablecoin for US ODL Customers, Not XRP | The Crypto Basic

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A new web3 network is being built right now that wants to end Big Tech’s control of your data | Tech Crunch

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Navigating The Generative AI Divide: Open-Source Vs. Closed-Source Solutions | Forbes

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Mannarino Market Risk Indicator

The Dow Index has lost over 3.82% the past 4 weeks. We talked about the Markets moving down for the next three to five weeks almost a month ago. How am I doing so far?

© Goldilocks

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China's March net gold imports via Hong Kong up 40% from Feb | Zawya

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Book of Zephaniah Summary: A Complete Animated Overview | Youtube

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👆 Sound familiar? It should, what we are going through is a Biblical prophecy. 

~~~~~~~~~

Meaning: Hidden by God.

Zephaniah is a masculine name of Hebrew origin that means "hidden by God." This is a biblical name shared with minor prophets in the Hebrew Bible and its meaning is symbolic of God's protection.

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Thank you Dinar Recaps

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

**********

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