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Iraq Economic News and Points To Ponder Monday Evening 6-3-24
Union Of Arab Banks: Iraq Is A Pioneer In Electronic Banking Services
June 3, 2024 Baghdad/Iraq Observer The Union of Arab Banks confirmed today, Monday, that Iraq is a pioneer in electronic banking services, while noting that the Iraqi banking sector is ancient and its role is vital in economic development.
The Secretary-General of the Union of Arab Banks, Wissam Fattouh, said,
“There is deprivation from dealing in the dollar, not sanctions, because sanctions mean inclusion on the sanctions list,” pointing out that
“the effect of deprivation is almost equivalent to sanctions because it is difficult for banks to operate without the dollar currency, which represents... Currency of international trade. Fattouh added,
“The Iraqi banking sector is an ancient sector and has a history, as its total assets amounted to 157.9 billion dollars, and even its deposits amounted to more than 100 billion dollars.”
Iraq Economic News and Points To Ponder Monday Evening 6-3-24
Union Of Arab Banks: Iraq Is A Pioneer In Electronic Banking Services
June 3, 2024 Baghdad/Iraq Observer The Union of Arab Banks confirmed today, Monday, that Iraq is a pioneer in electronic banking services, while noting that the Iraqi banking sector is ancient and its role is vital in economic development.
The Secretary-General of the Union of Arab Banks, Wissam Fattouh, said,
“There is deprivation from dealing in the dollar, not sanctions, because sanctions mean inclusion on the sanctions list,” pointing out that
“the effect of deprivation is almost equivalent to sanctions because it is difficult for banks to operate without the dollar currency, which represents... Currency of international trade. Fattouh added,
“The Iraqi banking sector is an ancient sector and has a history, as its total assets amounted to 157.9 billion dollars, and even its deposits amounted to more than 100 billion dollars.”
Therefore, this sector is important and its role is vital in economic development in the heart of the country.”
He stressed “the necessity of applying international standards, especially with regard to the standards and laws in force to combat money laundering and terrorist financing.” He pointed to
“involving the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this truly desired goal, and to train and qualify Iraqi cadres in particular.” He pointed out that
“there has been a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Muhammad Shiaa Al-Sudani made the important historical visit to the United States of America.” He noted that
“the biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks.” He continued,
"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance." https://observeriraq.net/اتحاد-المصارف-العربية-العراق-رائد-في-ا/
Declaration Of Function
June 02, 2024 The Central Bank of Iraq announces the opening of contract employment for the position of cash examiner, provided that applicants for these positions are in accordance with the conditions stated later, with the offer that application will be exclusively via the electronic link:
Conditions for submitting the form:
The applicant must be of Iraqi citizenship.
The applicant must not have been convicted of a crime against honor or trust.
The applicant must have completed eighteen years of age and not exceed twenty-five years.
He must have a certificate (preparatory/intermediate). The application will be ignored if it is proven that the applicant holds a certificate higher than the position for which he is applying.
directions:
Submission will be from Sunday, 6/2/2024, until the end of official working hours on Thursday, 6/6/2024.
It is preferable to use the chrome browser when submitting the form.
Important notes:
The applicant for the job will be ignored in the following cases:
Applying for a job outside his governorate.
The application will be ignored if submitted twice by the same person for any reason.
The application will be ignored if there is a difference between the information entered and the information of the attached documents.
Applications that do not meet the conditions listed above will be ignored.
All information provided by you is subject to audits by the relevant authorities.
Note that the applicant will undergo a test to accept the job.
Form link https://shorturl.at/f4E8W https://docs.google.com/forms/d/e/1FAIpQLSdp-ur9sqLJOkrWmGm3KhhoqehJL2cLcrOFSTQ0dgnHgJpWEg/viewform
Form code https://cbi.iq/news/view/2597
Stop Entering The Foreign Currency Buying And Selling Window
June 03, 2024 It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window
~~~~~
[partial and approximate translation of https://cbi.iq/static/uploads/up/file-171741265259795.pdf]
All approved banks
And/stop entering the foreign currency buying and selling window
The details of the suspension of listed companies are provided in the attached table below which begins In sequence (1- Naseem Al-Thalooj General Trading Company) andending in sequence (1171- Company Al-Yaqout General Trading Buildings)» from entering the window for buying and selling foreign currency.
To act accordingly. With appreciation.
[signature] 2024/5/30
[See 7 pages of list of 198 businesses inhttps://cbi.iq/static/uploads/up/file-171741265259795.pdf]
:diamonds: To view the titles and list of companies... click here
Central Bank Of Iraq Strategy: A Strong Boost To The Private Sector And Labor Market
Last updated: June 2, 2024 ndependent/- The Central Bank of Iraq’s bank lending strategy 2024-2029 is an important step towards developing the private sector and stimulating the national labor market.
This strategy aims to increase the credit granted to the private sector and small and medium enterprises, which will contribute to financing new projects in various sectors.
Strategy objectives:
Increasing credit granted to the private sector: The strategy aims to increase credit granted to the private sector by 4% of non-oil GDP by 2029, equivalent to 7 trillion Iraqi dinars.
Supporting small and medium enterprises: The strategy aims to increase the credit granted to small and medium enterprises by 3% of non-oil GDP by 2029, equivalent to 5 trillion Iraqi dinars, which will contribute to financing approximately 100,000 projects.
Improving the business environment: The strategy aims to improve the business environment and attract more local and foreign investors.
Unifying private sector development efforts: The strategy aims to unify private sector development efforts and coordinate them among concerned parties.
The importance of the strategy:
Creating job opportunities: The strategy contributes to creating new job opportunities for Iraqi youth.
Developing the productive and service sectors: The strategy contributes to the development of the productive and service sectors in Iraq.
Stimulating economic growth: The strategy contributes to stimulating economic growth and enhancing financial stability.
Everyone's responsibility:
Financial experts and specialists stress the importance of the combined efforts of all stakeholders for the success of this strategy.
The government, banks, investors, and Iraqi youth must work together to achieve the goals of this strategy and create a better future for Iraq. https://mustaqila.com/ستراتيجية-البنك-المركزي-العراقي-دفعة/
Growth Rate Of Bank Accounts In Iraq
June 02, 2024
The Central Bank of Iraq announced the growth rates of bank accounts for the past years, starting from the year 2018 and ending in the year 2023, which shows the growth rates during the aforementioned period and according to the attached chart. https://cbi.iq/news/view/2599
Central Bank of Iraq information Office June 2, 2024
Growth rate of bank accounts in Iraq Clip_image004 https://cbi.iq/static/uploads/up/file-171732391294036.jpg
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
ProvokingThoughts and Points To Ponder on Advice
Never give advice in a crowd.-Arab proverb
Never give advice unless asked.-German proverb
Whatever advice you give, be short.-Horace
Old men are fond of giving good advice, to console themselves for being no longer in a position to give bad examples.-La Rochefoucauld
We give advice, but we do not inspire conduct.-La Rochefoucauld
Good counsel has no price.-Guiseppe Mazzini
Never advise anyone to go to war or to marry.-Spanish proverb
Many receive advice, only the wise profit by it.-Syrus
Admonish your friends privately, but praise them openly.-Syrus
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KTFA: Clare: Parliament votes on the 2024 budget schedules
6/3/2024
The Iraqi Parliament voted today, Monday, on the budget schedules for the current year, 2024.
The hours before the vote witnessed controversy within the Parliamentary Finance Committee, as votes were taken twice on the budget tables due to disagreements.
And earlier; Member of the Parliamentary Finance Committee, Saad Al-Tobi, confirmed that the committee voted on the federal budget schedules for the year 2024 without making changes to them, indicating that two trillion dinars had been allocated for transfer between the exchange doors. LINK
DeepWoodz: We have a quorum and a vote. Confirmation that they are all ready to spend spend spend.
KTFA:
Clare: Parliament votes on the 2024 budget schedules
6/3/2024
The Iraqi Parliament voted today, Monday, on the budget schedules for the current year, 2024.
The hours before the vote witnessed controversy within the Parliamentary Finance Committee, as votes were taken twice on the budget tables due to disagreements.
And earlier; Member of the Parliamentary Finance Committee, Saad Al-Tobi, confirmed that the committee voted on the federal budget schedules for the year 2024 without making changes to them, indicating that two trillion dinars had been allocated for transfer between the exchange doors. LINK
DeepWoodz: We have a quorum and a vote. Confirmation that they are all ready to spend spend spend.
Clare: Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts
6/3/2024
The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.
Al-Mandalawi said after the end of the voting session on the budget schedules: The House of Representatives will continue to exercise its oversight role to follow up on the disbursem*nt of financial sums according to the specified schedules, and will not allow the people’s money to be lost or wasted, while he expressed his support for the government to continue implementing its reform and service program, and to complete the process of construction, progress, and achieving what is achieved. Dear citizens look forward to it.
The Acting Speaker of the House of Representatives appreciated the great role of the presidency and members of the Parliamentary Finance Committee in discussing and completing the federal general budget schedules for the year 2024, while expressing his thanks to the ladies and gentlemen of the House of Representatives for their valuable suggestions and their keenness to attend and vote on the budget schedules. LINK
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Clare: The Central Bank of Iraq stops 200 companies from dealing in dollars
6/3/2024
Baghdad
Documents issued by the Central Bank of Iraq, obtained by “Baghdad Today”, today, Monday (June 3, 2024), showed a decision to stop 200 exchange and general trading companies from entering the currency auction without explaining the reasons.
To view the list of suspended companies,click here. LINK
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Clare: After approving the budget... Al-Sudani sends a message
6/3/2024
Prime Minister Muhammad Shiaa Al-Sudani blessed, today, Monday, what he described as the “responsible step” of the House of Representatives, represented in approving the 2024 budget schedules.
Al-Sudani expressed his thanks and appreciation for the efforts of the Presidency of the House of Representatives, the political forces, the parliamentary committees, and the Finance Committee, Which completed the government effort, and what had previously been approved by the Council of Ministers, represented by the budget schedules (A, B, C, D, E, F).
Al-Sudani reiterated his emphasis on "continuing to implement the government program, which received the vote of the House of Representatives and the support of the political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations and demands of our Iraqi people that they wish the government to fulfill."
The Prime Minister called on the House of Representatives and the provincial councils to "strengthen the government's work by following up on the legislative and oversight efforts, which our government institutions, with all their arms and bodies, view as support for their work, a course correction, and a guarantee against corruption, deviation, and failure." LINK
Clare: The Sudanese financial advisor reveals the date of the government’s implementation of the budget schedules
6/3/2024
A financial advisor to Prime Minister Mazhar Muhammad Saleh revealed the date for the government’s implementation of the financial budget schedules for 2024 approved by the House of Representatives today, Monday.
Mazhar Muhammad Saleh told {Al-Furat News} agency, “Based on the effective constitutional path in issuing legislation, the start of the official implementation of the federal general budget schedules must be accompanied by its approval by the House of Representatives, based on the provisions of Article 77/Second of the Federal General Budget Law No. 13.” For the year 2023 (the tripartite budget), if that approval in the House of Representatives takes the form of (the law) or the form of the amendment to Law No. 13 of 2023 referred to above,
Then those amendments to the original law or the wording of the tables as a new law must in all cases be approved by chance.
The President of the Republic, and then it will be published in the Official Gazette so that the legal procedures can complete all their prescribed paths.”
He pointed out, "After that, the implementation or application phase begins immediately unless there are instructions for implementing the federal general budget schedules for the year 2024, which may be issued by joint instructions between the Ministries of Finance and Planning."
Saleh continued, "Despite this, the important aspect remains that the budget tables for the year 2024 are approved by the legislative authority and are accepted by legislators in the House of Representatives, and then the financial table for the year 2024 is issued and approved under any form of legislation in force, whether issued by a new law or a legislative decision." .
Ragheed LINK
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Margarita: Soooo maybe when it is published in the gazzette we get the rate change? i mean frank said it is a line item right?
BuckEyeTree: If I remember correctly from the past, the Gazette is published on Wednesdays and Saturdays in Iraq. Frank is to have next UB2B on Wednesday.
Maybe that is just a coincidence, unless Frank needs to do a short sooner. You never how quickly things may happen in a good way with Sudani at the helm.
************
Clare: Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations.
6/3/2024
The Parliamentary Finance Committee announced that the schedules of the general budget law will be passed as soon as a quorum is reached in the House of Representatives session scheduled to be held this evening, Monday.
The Vice Chairman of the Committee, Ahmed Mazhar al-Jubouri, stated in a statement to the National Iraqi News Agency (NINA) that “the Parliamentary Finance Committee met yesterday in the presence of most of its members,” 17 members representing the “Progress, Determination, Sovereignty, and Kurdish blocs,” and representatives of the coordination framework for the Asaib, Badr, and Sindh + 2 blocs in Hajj. The rest did not come."
He explained, “The committee voted absolutely on the general budget schedules after adding 2 trillion dinars to the governorates to be distributed according to population proportions.”
He added, "The tables have been completed and we have submitted the final version to the Presidency of the House of Representatives for a vote on it in today's session, Monday," noting that "Article 77 of the General Budget Law stipulates that the House of Representatives only approves the tables, and there is no so-called technical report for the committee on the general budget tables, other than "It's a novelty."
He continued to say, “The parliamentary committee, in agreement with the government, obligated the government to transfer an amount of two trillion dinars, and it is the one that determines the doors for the transfer” to the government, “and after the allocations to the governorates were 1.5 trillion dinars now, it has become 3.5 trillion dinars, which will be distributed according to the population proportions of the governorates.”
We continued: "We voted on the tables as sent by the government. We only addressed the problem of governorate allocations, but the rest of the paragraphs proceeded as they were received from the government."
Al-Jubouri confirmed, “The Finance Committee has completed its work technically, and will present the budget tables to the House of Representatives to vote on them or not,” noting that “the budget tables will be passed as soon as a quorum is reached within the House of Representatives session, and there is no new meeting of the committee related to voting on the budget tables.” LINK
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Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8
Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24
Good Evening Dinar Recaps,
Qatar Central Bank Announcement |QNA
Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."
Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.
Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system.
Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24
Good Evening Dinar Recaps,
Qatar Central Bank Announcement |QNA
Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."
Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.
Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system. QNA
© Goldilocks
~~~~~~~~~
"Louisiana Reaffirms Gold and Silver As Legal Tender"
Louisiana is the latest of many states that have gone through the legislative process to confirm that gold and silver are now considered legal tender and cannot be taxed.
This allows new monetary policies to form an expansive view of precious metals now being incorporated into the payment system as a form of legal tender.
On May 8th, 2024, "U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion."
The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League is currently on the table to consider precious metals on par with the US dollar.
This will keep money in the hands of the people instead of the federal government who want to grab capital gains tax on the use of what was formerly known as a solid payment system.
At the present time, 40 States have passed some form of Sound Money legislation. The next step is to take these new measures to the Federal Government. Morning Star Money Metals Congress Forbes
Gold will set us free!
© Goldilocks
~~~~~~~~~
The following is a list of recent bank mergers and acquisitions that are currently taking place. This list grows daily, and you can refer to it anytime you like through the link below.
We have talked about this as being part of the end game when we move from Fiat to Gold for the last 3 years.
The banking system is currently in a liquidity crisis that is not being talked about, and many changes are taking place behind the scenes.
I see these bank mergers as part of the process that will move our money into a safer Financial System than before, and one that will meet the needs of the next stage of our evolution financially and spiritually. iBanknet
We are truly witnessing the rebirth of a Global Nation.
© Goldilocks
~~~~~~~~~
"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"
Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency.
Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World.
The need for these entities is going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange. CBI Bank Note World
© Goldilocks
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READ HERE
file-171741265259795.pdf
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A financial storm is coming that governments cannot fight |Finance Yahoo
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Aeroponic Farming in India: Simplest and Best Guide Ever |Times of Agriculture
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Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself asa leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. |PwC
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USD3 Announcement |Crypto Reporter
Fintech companyStable.comannounced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players.
USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone.
It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.
USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.
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‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge -The Daily Hodl
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Here’s Everything You Need To Know About Banking-as-a-Service |Inc42
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Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.
Both Gold and Digital Assets are in their final phases of legislative development and completion.
Enjoy the show.
© Goldilocks
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VaultChain Gold |Kitco
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LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod |Youtube
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In 1912, American financier and investment banker J.P. Morgan said, “Gold is money.Everything else is credit” during his testimony before Congress.
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"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use ofXRPin apublic questionnaire aboutCBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." |The Crypto Basic
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TNT: Tishwash: It includes international agencies...preparing to open the largest mall in an Iraqi governorate
The Muthanna Investment Authority announced today, Monday, the imminent opening of (Al-Baraka Mall) in the center of Samawah city, implemented by investor Sheikh Hatem Al-Khawam, and it is considered one of the largest malls in the governorate and neighboring governorates.
Chairman of the Muthanna Investment Authority, Adel Dakhel Al-Yasiri, said, “This important commercial center, which was built on an area of (12,300 square meters), includes (100) various stores, (12) restaurants and hypermarkets with an area of (2,000 square meters), a children’s play area with an area of (1,300 square meters), and a coffee shop.” And branches of several banks and international agencies for clothing and meals, and a garage that can accommodate (80) vehicles, and the implementation of a multi-storey garage is underway in addition to the project to accommodate more vehicles.
He added, "The project employs dozens of workers, including technicians and administrators, daily, while the number will increase during the commercial operation phase." link
TNT:
Tishwash: It includes international agencies...preparing to open the largest mall in an Iraqi governorate
The Muthanna Investment Authority announced today, Monday, the imminent opening of (Al-Baraka Mall) in the center of Samawah city, implemented by investor Sheikh Hatem Al-Khawam, and it is considered one of the largest malls in the governorate and neighboring governorates.
Chairman of the Muthanna Investment Authority, Adel Dakhel Al-Yasiri, said, “This important commercial center, which was built on an area of (12,300 square meters), includes (100) various stores, (12) restaurants and hypermarkets with an area of (2,000 square meters), a children’s play area with an area of (1,300 square meters), and a coffee shop.” And branches of several banks and international agencies for clothing and meals, and a garage that can accommodate (80) vehicles, and the implementation of a multi-storey garage is underway in addition to the project to accommodate more vehicles.
He added, "The project employs dozens of workers, including technicians and administrators, daily, while the number will increase during the commercial operation phase." link
CandyKisses: External praise for Iraq's banks: very advanced in electronic banking services
Economy News - Baghdad
The Union of Arab Banks confirmed on Monday that Iraq is very developed in electronic banking services, while pointing out that the Iraqi banking sector is ancient and its role is vital in economic development.
The Secretary-General of the Union of Arab Banks, Wissam Fattouh: "There is a deprivation of dealing in the dollar and not sanctions, because sanctions mean inclusion on the sanctions list," pointing out that "the impact of deprivation is almost equivalent to sanctions because banks are difficult to work without the dollar currency, which represents the currency of international trade."
Fattouh added, "The Iraqi banking sector is a long-standing sector with a history, with total assets of $ 157.9 billion, and even deposits belonging to it more than $ 100 billion. Therefore, this sector is important and its role is vital in the economic development of the heart of the country."
He stressed "the need to apply international standards, especially with regard to standards and laws in force to combat money laundering and terrorist financing."
He pointed to "the involvement of the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this goal that is really required, and to train and qualify Iraqi cadres in particular."
He pointed out that "there is a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Mohammed Shia al-Sudani made an important historic visit to the United States of America."
"The biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks," he said.
"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance," he said.
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CandyKisses: Taif Sami talks about the allocations of the governorates in the budget
Baghdad - Iraq Today:
Finance Minister Taif Sami stressed the ministry's keenness to support all governorates according to what is scheduled in the budget.
The Ministry of Finance explained in a press statement that "Finance Minister Taif Sami received Maysan Governor Habib Zahir Al-Fartousi, to discuss the financial reality of the province and its needs for vital projects."
She added, "The Minister of Finance discussed the most prominent financial challenges facing the province, and ways to address them, as well as a number of projects that the province intends to implement during the coming period."
Sami pointed out, according to the statement, "the ministry's keenness to support all Iraqi provinces as scheduled within the draft general budget, and to provide the necessary facilities for them to implement their projects and improve the level of services provided to citizens."
For his part, the Governor of Maysan expressed his appreciation to the Minister of Finance for its interest in improving the financial and economic reality of the governorate, and its continuous support for the implementation of its projects to achieve sustainable development in it.
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CandyKisses: Political decision fails to pass new budget law
Baghdad - Iraq Today:
The parliamentary finance committee failed to vote on the budget tables in preparation for their presentation in the House of Representatives session scheduled for Monday.
Committee member Mustafa al-Karawi said in a press statement that "the Finance Committee met today, with its full members, in order to vote as a final decision on amending the budget tables, or passing them as they are, but at the last moments of the meeting came the political decision to postpone the vote until further notice to end the meeting without resolving the decision within the committee."
"During the meeting, MPs put forward a number of views on the importance of supporting sectors that suffer from lack of allocations, such as the service sectors, water resources and agriculture, as they are in direct contact with the citizen," al-Karawi said.
He pointed out that "political agreements are disrupting the budget schedules so far," noting that "the failure to resolve the budget schedules file by the Finance Committee, means that the fate of the session to vote on these tables in parliament "will be unknown."
Mot: ........ Tah Dah! –
Mot: .. Welllll - Opal - I Do!!! – LOL
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Militiaman, News Dinar Recaps 20 Militiaman, News Dinar Recaps 20
IQD Update-Iraq Dinar-Accelerate- Digital-Financial-Banking Reforms-Best Budget since 2003-Cash less
MilitiaMan and Crew: 6-2-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
IQD Update-Iraq Dinar-Accelerate- Digital-Financial-Banking Reforms-Best Budget since 2003-Cash less
MilitiaMan and Crew: 6-2-2024
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Be sure to listen to full video for all the news……..
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Iraq Economic News and Points To Ponder Late Sunday Evening 6-2-24
A Decline In Iraq's Oil Exports To The United States During The Past Week
Economy | 06/02/2024 The US Energy Information Administration announced on Sunday that Iraq's oil exports to America had declined over the past week.
The administration said in a table seen by Mawazine News, that “the average US imports of crude oil during the past week from 9 major countries amounted to 5 million and 467 thousand barrels per day, an increase of 226 thousand barrels per day compared to the previous week, which amounted to 5 million and 241 thousand.” barrels per day.
She added, "Iraq's oil exports amounted to 233,000 barrels per day last week, down by 6,000 barrels per day from the previous week, which amounted to 239,000 barrels per day."
Iraq Economic News and Points To Ponder Late Sunday Evening 6-2-24
A Decline In Iraq's Oil Exports To The United States During The Past Week
Economy | 06/02/2024 The US Energy Information Administration announced on Sunday that Iraq's oil exports to America had declined over the past week.
The administration said in a table seen by Mawazine News, that “the average US imports of crude oil during the past week from 9 major countries amounted to 5 million and 467 thousand barrels per day, an increase of 226 thousand barrels per day compared to the previous week, which amounted to 5 million and 241 thousand.” barrels per day.
She added, "Iraq's oil exports amounted to 233,000 barrels per day last week, down by 6,000 barrels per day from the previous week, which amounted to 239,000 barrels per day."
She confirmed that "most of America's oil revenues came from Canada at an average of 3.666 million barrels per day, followed by Mexico with an average of 551 thousand barrels per day, followed by Saudi Arabia with an average of 422 thousand barrels per day, and from Libya at an average of 262 thousand barrels per day."
She explained, "The amount of American imports of crude oil, from Brazil, was at a rate of 127 thousand barrels per day, from Ecuador at a rate of 103 thousand barrels per day, from Nigeria at a rate of 71 thousand barrels per day, and from Colombia at a rate of 32 thousand barrels per day."
https://www.mawazin.net/Details.aspx?jimare=249007
Today...The Central Bank Sells $281 Million In The Currency Auction
Political | 06/02/2024 Baghdad - Mawazine News The Central Bank’s dollar sales rose today, Sunday, to more than $281 million in the currency auction.
The Central Bank sold in its auction today 281 million and 584 thousand and 592 dollars, which it covered at a base exchange rate of 1,310 dinars per dollar for documentary credits and international settlements for electronic cards, and at a price of 1,310 dinars per dollar for external transfers.
Most of the dollar sales went to strengthen balances abroad in the form of transfers and credits, which amounted to 261 million and 74 thousand and 592 dollars, an increase of 92% over cash sales of 20 million and 510 thousand dollars. https://www.mawazin.net/Details.aspx?jimare=249027
Judiciary: Committed To Combating Corruption
Economy Sunday, June 2, 2024 5:20 PM Baghdad/National News Center The Supreme Judicial Council Announced Judge Najm Abdullah Ahmed, Chief Public Prosecutor, said in a speech he delivered during the conference “The Judicial System in Iraq and Major Corruption Cases,” which was organized with the support of the United Nations Development Program and the European Union, that “Iraq is keen to implement the national anti-corruption strategy, with the aim of building A fair and transparent society, and enhancing citizen confidence in national institutions through a policy that seeks to uncover negative phenomena and activate a societal culture that rejects corruption.”
He added that “the efforts of the United Nations Development Program had a prominent impact in supporting Iraq’s efforts to combat corruption by holding seminars and workshops and providing recommendations and consultations, in line with the requirements of the United Nations Convention against Corruption,” noting that “the first report of the program to follow up on trials of corruption cases Strengthening arbitration reflects this trend.”
He explained that “the report came as a result of an intensive effort by a specialized team, based on scientific foundations in data collection and auditing, pointing to the achievements achieved by the courts specialized in corruption cases, and identifying the obstacles facing the investigative authorities, which constitute an obstacle to construction and progress.”
He pointed out that “the Supreme Judicial Council took a number of steps, including forming courts specialized in corruption cases in the investigation and trial stages, and coordinating with the Integrity Commission to prepare a comprehensive database,” pointing to “organizing training courses for public prosecution employees in all appellate areas to improve their performance in Completing investigations into corruption cases.
He stressed that “the report indicated a shortage in the number of judges, which prompted the Council to accept more than one course at the Judicial Institute to graduate judges and prosecutors,” adding that “despite the commitment of the United Nations Convention against Corruption to provide legal assistance and extradite defendants, some countries It does not respond for various reasons, which complicates the recovery of smuggled funds outside Iraq.”
He indicated that “the Public Prosecution held a series of meetings to prepare a mechanism that encourages countries to recover funds,” praising the measures of the Iraqi authorities in combating money laundering and terrorist financing, which won the approval of the Financial Action Organization for the Middle East and North Africa countries, which indicates the possibility of Iraq’s exit from... Gray list of high-risk countries.
Judge Najm Abdullah concluded his speech by emphasizing that “all observations and recommendations contained in the report will be of interest to the Supreme Judicial Council, and coordination will be made with the relevant government agencies to implement them.” https://nnciraq.com/256883/
Planning: The Pilot Census Is Witnessing A Great Response From Citizens
Posted On06-02-2024 By Sotaliraq The Ministry of Planning announced that a 98% participation rate was recorded in the first two days of the experimental population census, which will last 14 days, stressing that these numbers confirm that it will be very successful as a result of the large response from citizens.
The Executive Director General of the General Population Census, Ali Erian, said, “The experimental census was initiated, which is the first nucleus for moving forward with the implementation of the General Population and Housing Census in November 2024, as all indicators were good and proceeded with a normal flow.”
He added, “The experimental census is a miniature of next year’s census, as in this stage we targeted 84 areas, including 44 areas in the lockdown and 40 areas in the countryside across Iraq, and more than 600 male and female researchers participated in it.”
He pointed out, “There is a great response from citizens, whether in lockdown or in the countryside, to conduct the population census, and it far exceeds international countries,” stressing that “the response rate reached 98 percent.”
Yesterday, Friday, the Ministry of Planning announced the launch of experimental census activities throughout Iraq. LINK
Al-Sudani Chairs A Special Meeting For The Industrial Project Financing Initiative
Sunday 02, June 2024 | Economical Number of readings: 229 Baghdad / NINA / Prime Minister Muhammad Shiaa Al-Sudani chaired a special meeting on the initiative to finance industrial projects./End H https://ninanews.com/Website/News/Details?Key=1130197
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/
ProvokingThoughts and 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
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Economics, Gold and Silver, Goldilocks, News DINARRECAPS8 Economics, Gold and Silver, Goldilocks, News DINARRECAPS8
Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24
Good evening Dinar Recaps,
"This joint proposal from the Bank of England and the Financial Conduct Authority (together, “the UK regulators”) for a digital securities sandbox (“DSS”) reflects a commendable commitment to incorporating innovation into the financial system."
A letter was sent to the Digital Securities Sandbox joint Bank of England and Financial Conduct Authority regarding this consultation paper.
If all goes well in this pilot phase / sandbox movement forward, all would commence so long as the United States doesn't have anything further to add from the new Markets in Crypto Assets (MICA) regulations.
Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24
Good evening Dinar Recaps,
"This joint proposal from the Bank of England and the Financial Conduct Authority (together, “the UK regulators”) for a digital securities sandbox (“DSS”) reflects a commendable commitment to incorporating innovation into the financial system."
A letter was sent to the Digital Securities Sandbox joint Bank of England and Financial Conduct Authority regarding this consultation paper.
If all goes well in this pilot phase / sandbox movement forward, all would commence so long as the United States doesn't have anything further to add from the new Markets in Crypto Assets (MICA) regulations.
This consultation paper will be added to the current work taking place on legislation in Washington. SeeRep. McHenry, Patrick T,H.R. 7440 –Financial Services Innovation Act of 2024, US Congress (Feb. 23, 2024).
The purpose of this consultation letter is to make it clear the intended role of the new Digital Financial/Payment System will take going forward.
The following is the stated purpose: "A sandbox is designed to generate real-world insights about whether distributed ledger technology (“DLT”) could streamline the issuance, trading, and settlement of securities without undermining investor protection, market integrity, or financial stability."
These new regulations under the authority of the FCA has the potential to change the way settlement processes are being done, and this concerted effort is to affirm coordinated actions inside of a sandbox to make sure the US and UK can coordinate and implement a final phase by the end of June when it becomes law. SEC Bank of England The Financial Conduct Authority DFSA
© Goldilocks
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We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy. © Goldilocks
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Chairman of the Finance Committee: We are ready to present the final report on the budget schedules |Iraqi News Agency
"Baghdad-INAThe Parliamentary Finance Committee announced today, Friday, that it will continue revision and reviewing the 2024 budget schedules to complete it on time in order to vote on them in Parliament, while confirming its readiness to present the final report on the budget schedules in next Monday's session."
This meeting on Monday is regarding budget schedules. No mention of exchange rate changes is expected to be a part of this meeting.
© Goldilocks
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How AI is Paving the Way for a New Era in Financial Services -The Global Treasurer
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Mastercard and HSBC Middle East accelerate travel payment innovation through bank’s first wholesale travel program |Mastercard
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In the Face of Unrelenting Change, Corporations Embrace Innovation and Leadership |The Global Treasurer
Corporations today must adapt to constant change to stay competitive, with corporate treasuries leading the charge in managing liquidity and risk.
The introduction of ISO 20022 marks a significant shift in corporate payments, offering a unified standard that promises enhanced transaction transparency and speed.
Corporate treasuries are redefining their strategies to leverage this standard, expanding their roles to include innovative technologies for efficiency and cost reduction.
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IMF Calls Zimbabwe's Switch To A Gold-backed Currency An "Important" Step|Pindula
The introduction of ZiG represents an important policy action accompanied by several complementary policy changes — including monetary, exchange rate, and fiscal policy measures.
Having a gold standard stabilizes prices and foreign exchange rates.
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US unveils policy to boost carbon offset market integrity |Reuters
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As society accelerates its decarbonization journey, the resource inputs necessary for this energy transition are appreciating in value. This article will spotlight the pivotal role of copper in this transition and the ETF solutions that enable investors to tap into this burgeoning market. |ETF Market
👆 Goldilocks pointed to this article
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Iraqi News Highlights and Points to Ponder Sunday AM 6-2-24
Parliamentary Praise For The Current Year’s Budget: The Best Since 2003
Money and business Economy News – Baghdad Chairman of the Parliamentary Services and Reconstruction Committee, Representative Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.
Al-Hamidawi stated in a brief statement, followed by Al-Iqtisad News, that “the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.”
Iraqi News Highlights and Points to Ponder Sunday AM 6-2-24
Parliamentary Praise For The Current Year’s Budget: The Best Since 2003
Money and business Economy News – Baghdad Chairman of the Parliamentary Services and Reconstruction Committee, Representative Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.
Al-Hamidawi stated in a brief statement, followed by Al-Iqtisad News, that “the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the allocations to the governorates in the 2024 budget have not been reduced, but rather they are the best since 2003.”
He added, "The budget includes promising service projects for the governorates," pointing out that "members of the House of Representatives will vote on Monday on the schedules to launch a new phase of services and construction in the government of achievements." 102 views 06/02/2024 https://economy-news.net/content.php?id=4393
A Final Meeting Of The Parliamentary Finance Committee To Complete The Budget Law Schedules Report
Sunday 02, June 2024 13:20 | Economical Number of readings: 181 Baghdad / NINA / Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.
Since last week, the committee has continued its periodic meetings in the Guest House building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday, which the Presidency of the House of Representatives decided to allocate for voting on the schedules of General Budget Law No. 13. For the amended year 2024 and its annexes, Tables A/B/C/D/E/F./End 5
https://ninanews.com/Website/News/Details?key=1130151
Parliament Holds A Session To Vote On The 2024 Budget Schedules
Iraq 2024-06-02 The House of Representatives is scheduled to hold its regular session, tomorrow, Monday, to vote on the schedules of Federal Budget Law No. 13 for the year 2024 and its annexes.
The representative of the Patriotic Union of Kurdistan bloc, Dr. Briar Rashid, told PUKMEDIA: The House of Representatives has postponed its legislative recess to vote on the federal budget schedules for the year 2024.
He added: There is pressure from Federal Prime Minister Muhammad Shia al-Sudani and some political parties to vote on the budget schedules so as not to disrupt government affairs. Federal and continuing to provide services to citizens.
He explained: Voting on the budget tables requires the presence and voting of 165 deputies, and the government needs to vote on these tables, so it wants to speed up the vote on them.
Representative Briar Rashid continued: The House of Representatives will hold its regular session at exactly three o’clock in the afternoon tomorrow, Monday, to vote on the schedules of the Federal Budget Law for the year 2024. https://kirkuktv.net/AR/Details/21071
Deputy: The Budget Does Not Contain Appointments And Contains Taxes On Electricity And High Gasoline Prices
Policy 06-02-2024 | 2,828 views Alsumaria News – Politics Member of the Legal Committee in the House of Representatives, Raed Al-Maliki, revealed today, Sunday, that the budget tables sent from the Council of Ministers to the House of Representatives are devoid of new appointments, noting that they contain large taxes on electricity supply as well as a “possible” rise in gasoline prices. .
Al-Maliki said in an interview with: Alsumaria News “The budget tables sent by the government do not contain any new appointments and there are no increases for any societal or functional segments,” indicating that the tables received from the government only contain changes in terms of allocations to ministries, and allocations allocated to the region.Kurdistan".
Al-Maliki added, "The schedules also contained some amendments related to financing methods," adding, "These have a major negative impact on the citizen, including imposing fees and taxes on the electricity sector, by imposing high taxes."
Al-Maliki pointed out, “The tables also included a very significant increase in the selling prices of crude oil to refinery companies, and this will lead to the refineries having two options: either to bear the loss and be loss-making companies, or to transfer the burden of additional costs to oil product distribution companies.” And companies distributing petroleum products, in turn, can transfer them to citizens and raise gasoline prices.” LINK
Iraq Participates In The OPEC+ Coalition Meeting In Saudi Arabia
Time: 06/02/2024 Read: 585 times {Economic: Al-Furat News} Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani participates in the OPEC+ alliance meeting, which begins its work in Saudi Arabia today.
Al-Hayani’s media office stated in a statement received by {Al-Furat News}, “The meeting discusses developments in the oil market, a general assessment of OPEC+’s actions over the past, and future expectations.” LINK
The Governorates’ Shares In The Budget Are Up In The Air, And The Blocs Are Trying To Rectify The Matter
Information / Baghdad... Although the federal budget was approved for three years 2023-2024-2025; However, the schedules for each budget always raise controversy between the governorates and the Ministry of Finance.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
This is what actually happened when the 2024 budget schedules arrived in the corridors of the House of Representatives.
Today, Sunday, the Parliamentary Finance Committee held a final meeting to put the final touches on its report on the general budget schedules.
A statement by the committee received by “Al-Ma’louma” stated that, since last week, the committee has been continuing its regular meetings in the guest house building of the General Secretariat of the Council of Ministers, to discuss the general budget schedules, leading to the preparation of the final report that will be presented in tomorrow’s session, Monday.”
He touched on the decision of the Presidency of the House of Representatives to allocate tomorrow’s session, Monday, to vote on the amended schedules of General Budget Law No. 13 of 2024 and its annexes, Schedules “A/B/C/D/E/F.”
In the meantime, the media department of the House of Representatives announced the agenda for tomorrow’s session, Monday, which includes voting on the amended schedules of Federal Budget Law No. (13) of 2024.
The 2024 budget schedules angered many representatives due to the reduction in the budgets of the central and southern governorates.
Representative Wafaa Al-Shammari confirmed that the central and southern governorates were subjected to great injustice in the current year’s budget that the government sent to the House of Representatives.
Al-Shammari told Al-Maalouma, “The bulk of building the Iraqi economy falls on the central and southern governorates,” explaining, “These governorates are the ones who finance the state treasury through their oil fields, but despite that, they suffer injustice.”
She added, "What was allocated to the central and southern governorates in the budget tables is very weak and does not match their need to sustain projects," noting that "instead of doing justice to these governorates, the government reduced their budgets and increased the Kurdistan region's budget."
In addition, member of the Parliamentary Services Committee, Mahdia Al-Lami, said today, Sunday, that the financial allocations to all governorates are not commensurate with the size of the service problems.
Al-Lami told Al-Maalouma that the governorate allocations in the 2024 schedules differ from the 2023 allocations, indicating that the percentage of infrastructure completion in some governorates does not exceed 6%.
She added, "The government is supposed to increase financial allocations to all governorates instead of reducing them."
She continued, "Budget allocations threaten service projects in all Iraqi governorates."
According to these objections, there are two trends within the House of Representatives, which will not be ignored by political discussions, after the completion of professional discussions related to the Finance Committee and the government.
First: There is a tendency in the House of Representatives to hold consensus discussions between the large blocs before voting on them.
Second: The budget is presented without agreeing on it.
The weight is based on consensus between the political blocs and finding agreed-upon formulas to give the central and southern governorates part of the reinforcements to their budgets.
However, even if the political blocs agree, these reinforcements will not meet the needs of these governorates. LINK
Provoking Thoughts and Points to Ponder on Advice :
But one must know where one stands, and where the others wish to go.-Goethe
No man ever listened himself out of a job.-Calvin Coolidge
Thanksgiving comes after Christmas.-Peter Kreeft
The proverb warns that, "You should not bite the hand that feeds you." But maybe you should, if it prevents you from feeding yourself.-Thomas Szasz
I remember my father telling me the story of the preacher delivering an exhortation to his flock, and as he reached the climax of his exhortation, a man in the front row got up and said, 'O Lord, use me. Use me, O Lord - in an advisory capacity!'-Adlai Stevenson
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TNT: CandyKisses: Parliamentary praise for this year's budget: the best since 2003
Economy News - Baghdad
The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.
Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."
He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."
TNT:
CandyKisses: Parliamentary praise for this year's budget: the best since 2003
Economy News - Baghdad
The Chairman of the Parliamentary Services and Reconstruction Committee, MP Ali Jassim Al-Hamidawi, confirmed that the reports prepared by the Parliamentary Finance Committee after studying the tables sent by the government confirm that the governorates' allocations in the 2024 budget are not reduced, but are the best since 2003.
Al-Hamidawi said in a brief statement, followed by "Economy News", that "the reports prepared by the parliamentary finance committee after studying the tables sent by the government confirm that the allocations of the governorates in the 2024 budget are not reduced, but rather the best since 2003."
He added, "The budget includes promising service projects for the provinces," pointing out that "members of the House of Representatives will vote on Monday on the tables to launch a new phase of services and ages in the government of achievements."
Tishwash: Before submitting it to a vote...a final meeting for the 2024 budget in the corridors of Parliament today
Deputy Chairman of the Finance Committee in Parliament, MP Ahmed Mazhar Al-Jubouri, revealed today, Sunday, an expected final meeting of the committee to resolve the 2024 budget schedules, before submitting them to a vote within the Council.
Al-Jubouri said, “The powers and directions may not allow us to make amendments to the budget tables, and this may dispel the dream of many who are waiting to make amendments to them, including appointments or governorate rights, etc., and it may be difficult to change a single letter in the tables.”
He added, “The committee will open the schedules today and will discuss the possibility of making amendments to them or passing them according to the texts that reached Parliament from the government,” indicating that today’s meeting will decide whether the schedules will be passed in tomorrow’s session or moved until after Eid al-Adha.
Al-Jubouri said, “The committee members’ orientations are with the rights of citizens, but we are waiting for today’s meeting to discuss the possibility of amending them according to the necessary requirements.”
The House of Representatives had allocated its session tomorrow, Monday, as a date to vote on the federal financial budget tables, at a time when the Parliamentary Finance Committee announced, yesterday, Saturday (June 1, 2024), the near end of its work on the federal financial budget tables for the year 2024. link
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Tishwash: Al-Aboudi: The decision to end UNAMI’s mission in Iraq is a big step towards full sovereignty
Member of the General Authority of the National Wisdom Movement, Rahim Al-Aboudi, considered the decision to end UNAMI’s mission in Iraq a big step to prove complete sovereignty.
Al-Aboudi said {to Al-Furat News} that: “The United Nations is looking with another eye at Iraq and is following up on all political, security, social and economic activities. Therefore, this transition is a merit of the Iraqi people and political forces.”
He added, "The government had a major role in this transition, and it is a major step to prove that Iraq has a different title and status and the need for complete sovereignty and dealing with the country on the basis of this entitlement."
Al-Aboudi continued, "Iraq adopted many decisions, as well as many foreign relations, whether at the level of Middle Eastern countries or countries of the world, in order to have a different role in the next stage."
He stated, "This decision has become an important responsibility for the government to affirm the right of the Iraqi people to be a growing and prosperous country. Today, Iraq is adopting a policy of calm in the region and proving itself."
Yesterday, Friday, the UN Security Council decided to withdraw the United Nations Assistance Mission for Iraq (UNAMI), which has been in the country for more than 20 years, by the end of 2025, at the request of Baghdad.
The unanimously adopted resolution stipulates extending the mandate of the mission, which was established in 2003, “for a final period of 19 months until January 31, 2025.”
The Iraqi government welcomed the UN Security Council's decision to end the mandate and tasks of the United Nations Assistance Mission for Iraq. link
Mot: Good Morning
Good Mom
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Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24
Good evening Dinar Recaps,
"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."
This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇
"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."
This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.
Goldilocks' Comments and Global Economic News Saturday Afternoon 6-1-24
Good evening Dinar Recaps,
"Liquidity in U.S. financial markets is starting to dry up, which could it make it difficult for stocks and other risky assets to advance from here, according to analysts at JPMorgan."
This has been going on since the end of March 2024. If you remember, this was the time banks were no longer going to receive free liquidity going forward. 👇
"The Federal Reserve Board announced that the Bank Term Funding Program (BTFP) will cease making new loans as scheduled on March 11. The program will continue to make loans until that time and is available as an additional source of liquidity for eligible institutions."
This lack of liquidity has reached its tipping point. And now, we have reached a contracting phase in the markets. It appears that old money has reached its limits.
There are currently over 450 London Metal Exchange approved Warehouses around the world, and their numbers are continuing to grow. They are located across the USA, Europe, and Asia.
These active locations are ready to serve the needs of the new digital asset-based trading system. Gold and other precious metals have been on the rise since the beginning of this year. The time has come for gold's new role in our world to awaken. Market Watch LME Financial Express
Gold is the new liquidity. Gold will set us free.
© Goldilocks
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BREAKING NEWS IRAQ Trouble |Youtube
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The race toward instant payments has now begun. The new MICA regulations have set everything in motion. |The Paypers
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Russian Commodity Companies Using Stablecoins To Settle With Chinese Counterparts: Report |Daily Hodl
Russian Commodity Companies Announcement:
Russian commodities firms are reportedly using the top stablecoin USDT to execute financial transactions with Chinese companies.
Bloomberg, citing “top executives at the companies,” reports that at least two metals producers in Russia use the Tether-issued stablecoin and other crypto assets to facilitate cross-border transactions with clients and suppliers in China.
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RBI relocates 100 tonnes of gold from UK to its Indian vaults: Report |LiveMint
RBI relocated over 100 tonnes of gold from UK to India for logistical and storage reasons, hinting at more gold entering the country soon. This move follows RBI's recent acquisition of 27.5 tonnes, increasing its total gold holdings to 822.1 tonnes by March.
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SEC Announcement:
Washington D.C., May 31, 2024 —
The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on June 6, 2024, at 10 a.m. ET. The meeting will be webcast on the SEC website. SEC
The committee will host two panels:
* Examining the New Frontier for Investment Advice
* AI Regulation: Embracing the Future
The committee will also discuss potential recommendations regarding the Protection of Self-Directed Investors when Trading Complex Products and Utilizing Complex Strategies and Financial Literacy and Investor Education.
The Investor Advisory Committee, which focuses on investor-related interests, advises the Commission on regulatory priorities and various initiatives to help protect investors and promote the integrity of the U.S. securities markets. Established by the Dodd-Frank Act, the Committee is authorized by Congress to submit findings and recommendations to the Commission.
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Fed’s Wait-and-See on Rate Cuts Supported by Worst 6-Month “Core” & “Core Services” PCE Inflation since mid-2023 |Wolf Street
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The UK recently conducted aconsultationabout itsDigital Securities Sandbox(DSS), which eases legal requirements for central securities depositories. The aim is to enable tokenization initiatives to issue, trade and settle digital securities. |Ledger Insights
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BIS shares how Project Agorá aims to tokenize correspondent banking -Ledger Insights - blockchain
Bank for International Settlements Announcement:
Last month the Bank for International Settlements (BIS) Innovation Hub unveiledProject Agorá, its ambitious project with seven central banks to transform cross-border payments with tokenization. It proposes using aUnified Ledgerinvolving wholesale central bank digital currencies (wCBDC) and tokenized deposits on a shared infrastructure to execute payments. Today the BIS released a short paper on“Next generation correspondent banking“, which outlines the vision for Agorá. A large part of that relates to how compliance is dealt with.
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Securities & Futures Commission of Hong Kong Announcement |Finance Magnates
SFC Warns of June 1 Deadline: Comply or Face Legal Consequences
Virtual asset trading platforms must be licensed by June 1, 2024, or face criminal charges
The regulator urges investors to trade only on licensed platforms.
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First Green Security Token Offering for New Energy Vehicles Charging Network in Hong Kong -The Tokenizer
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Join the Seeds of Wisdom Team SNL call with Freedom Fighter breaking down Goldilock's weekly posts! Jester will be joining too!SNL Call Link
9 pm EDT / 8 pm CDT / 6 pm PDT
TheSNL Q & A roomwill be open at 8 pm ET, 7 pm CT, and 5 pm PT to ask questions that will be answered on the call!
The call will be recorded and you can find it in theArchive Call Roomafter the call is over.
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Follow Goldilocks'Roadmap
Follow Goldilocks'Timeline
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TNT: CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government
Saturday 01, June 24
Baghdad /Nina/ The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.
Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."
TNT:
CandyKisses: Al-Sayhood: The UN Security Council vote to end the work of UNAMI is a historic victory for Iraq, its people and its government
Saturday 01, June 24
Baghdad /Nina/ The Secretary-General of the Assembly / generations / MP Muhammad Saadoun Al-Sayhoud The vote of the United Nations Security Council to end the work of the UNAMI mission is a historic victory for Iraq, its people and its government.
Al-Sayhoud explained in a press statement today: "The termination of the work of the UNAMI mission in Iraq in 2025 came after a government effort and constructive and purposeful dialogues that established to the world that Iraq is able to manage the country by itself without any need for UN intervention, especially what Iraq is witnessing under the government of Prime Minister Muhammad Shia Al-Sudani of political, security, economic, development, investment, service as well as diplomatic stability."
He added: "The entire international community has placed its confidence in Prime Minister Mohammed Shia Al-Sudani, especially after the international, regional and Arab openness and its positive effects in the advancement and advancement of Iraq and its auspicious and influential return as an important and effective element in the Arab, regional and international environment and its great participation in solving important issues and spreading the principles of brotherhood, peace and stability in the region and the world, distancing oneself from external conflicts and moving away from the policy of axes."
CandyKisses: Iraq announces the arrival of approximately 24,400 pilgrims to the Holy Land so far
Economy News - Baghdad
Today, Friday, the Supreme Commission for Hajj and Umrah counted Iraqi pilgrims traveling by land and air to the Holy Land, while confirming the existence of coordination with the Central Bank and banks to sell dollars to pilgrims at the official rate
"The voyage process is continuing, whether by air through Baghdad, Najaf, Basra, Erbil, Sulaymaniyah and Kirkuk airports to Madinah airport - Prince Mohammed bin Abdulaziz airport, directly, as well as the voyage through the Arar border crossing, where pilgrims are escorted by security forces to the Arar border crossing," said spokesman Hassan Fahd al-Kinani.
Al-Kinani added that "pilgrims pass through the city of pilgrims and Umrah performers, which was established in a record period not exceeding sixty days, and there are all the amenities that the pilgrim needs, and it contains restaurants, a bakery, a factory for the production of crystal ice, and a dream, where breakfast, lunch and dinner are served when the pilgrim stays there, and then at the Arar border crossing, where the procedures are easy and easy."
"The number of pilgrims traveling by land and air to the Holy Land has reached about 24,400, half of whom are now in Medina and the other half have moved to Mecca after visiting the Holy Prophet (peace be upon him)," he said.
Regarding coordination with the Central Bank to obtain the dollar, Al-Kinani explained that "there is coordination with the Central Bank, Al-Rasheed and Rafidain Banks, and the Hermit Bank, which has been since the beginning of the regiment in the process of exchanging dollars to pilgrims, in addition to the Iraqi Trade Bank and exchange companies, all of which are on the official website of the Commission. Any pilgrim to the Holy Land can access the official website of the Commission through social networking sites or on the official website of the Commission in order to know where to sell dollars at the official rate for for pilgrims of Baghdad and the provinces."
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TishwashL Al-Sudani: “The development road” means linking the East to Europe through Iraqi lands
Prime Minister, Muhammad Shiaa Al-Sudani, confirmed that the development road project means, according to current market equations and international trade movement, a link between the East and Europe through Iraqi and Turkish lands together.
Al-Sudani, during an interview conducted by Anatolia Agency, said: In the beginning, we must look historically at Iraq’s role in trade between the East and the West over many centuries, and I am not exaggerating if I say that since prehistoric times, Mesopotamia has been an easy trade corridor whose paths trade caravans prefer to follow. And standing and trading with its metropolises, cities and urban centres.”
He stressed that the path of development is essentially to restore this historical role, and linking the port of Al-Faw to the Turkish border means, according to current market equations and international trade movement, a link between the East and Europe via Iraqi and Turkish lands together.
The Prime Minister explained that the region is witnessing conflicts and tensions that recede at times and escalate at other times, and this prompts us to focus efforts on projects that overlap in interests and overlap in benefits.
He added: The Development Road will provide an opportunity for the emergence of industrial cities on both sides of it, which will complement the trade passing through it. Later this year, we will inaugurate the first berths at Al-Faw Port, and the flow of goods through the Development Road route will begin initially.”
He continued, saying: All indicators, economic readings and feasibility studies, say that this corridor is the least expensive and fastest among the rest of the corridors. We do not say that it is an alternative, but rather regional and international trade really needs a path of development, as it is a linking project that promotes overlap in interests and causes of economic sustainability.
Following President Erdogan's visit to Iraq, Turkish Minister of Transport and Infrastructure Abdulkadir Oraloglu said that with the operation of the development road, the volume of trade with Iraq will increase from $20 billion to $30-40 billion.
Regarding the future volume of bilateral trade between Turkey and Iraq, which is currently estimated at about 20 billion dollars, the Prime Minister of Iraq said: The increase in the volume of bilateral trade with Turkey can be expanded vertically, but we are seeking vertical expansion as well. In short, this is the role of the Development Road Project and the projects attached to it. “
He added: Experience and history have proven that the progress of a country alone and in isolation from its neighbourhood, is something that carries an unknown future despite all possibilities and conflicts. Therefore, we focus on increasing the capacity of exchange and actual partnership (with Turkey) is the guarantor of stability and deep, long-term relations.
He continued: In our relationship with our Turkish brothers, we also focused on one of the most promising sectors in investment and cooperation, which is the agricultural sector, and soon we will witness practical steps in this aspect, and the participation of Turkish companies.”
Regarding investments in Iraqi gas fields, the Prime Minister of Iraq said, in his interview with Anadolu: “Gas investment is a strategic test for Iraq, and our national wealth must be optimally employed in serving our people and development plans.”
He added: It is not possible to continue burning gas, firstly due to the waste of this wealth that can be benefited from, and secondly due to the environmental effects. We announced a special round of licenses to invest in gas fields.
He continued, saying: We plan for Iraq to be self-sufficient in domestic gas production within 3 years, and Iraq is moving confidently to be an important element in the gas market within 5 years, and we will achieve self-sufficiency in this material at the expense of electricity production.
The Prime Minister of Iraq said: Specialists know that the existence of a technological base for gas investment is at the same time a base for the broadest petrochemical industries, and this is what we seek.”
Regarding potential partnerships in these investments, the Prime Minister of Iraq indicated that the doors are open to every reputable and specialized company that wishes to participate in this sector, and we also welcome regional companies because they will expand the base of cooperation in other areas.
He added: It is important to understand that gas investment means providing additional resources for development in Iraq, which are resources that can be invested in various promising economic rights, and these areas will be open to the participation of Turkish companies and companies of other friendly countries.
Iraq's current production of natural gas is about 2.7 billion cubic feet, and according to previous estimates, Iraq has a reserve of 132 trillion cubic feet of gas, of which 700 billion cubic feet were burned, as a result of the weak ability to exploit it.
Regarding the flow of Iraqi oil, the Iraqi Prime Minister explained that stopping the pumping of Iraqi oil extracted from the fields of the Kurdistan region of Iraq is undoubtedly a loss for Iraq, and at least it is the loss of an expected benefit that can support development plans in the provinces of the region and strengthen the Iraqi economy as a whole.
He added: He added: We took the initiative to find acceptable settlements and legal solutions and solutions after a thorough legal study, but the matter is surrounded by a legal obligation, because the Federal General Budget Law requires calculating the cost of producing one barrel of oil in all fields to be within the national average of the cost of production, which is around $8 per barrel, according to what was announced. Federal Ministry of Oil.
He continued: But the Ministry of Natural Resources in the Kurdistan Regional Government, and within the contracts signed with the oil company operating there, the cost of production is calculated at around $26 per barrel, and we suggested to Imam that the budget law be amended, or that the agreements and contracts with these companies be amended.”
The Prime Minister of Iraq continued, saying: From this standpoint, companies stopped production, as the ban did not come from the federal government, and we are waiting for a solution to be found. The companies refused to amend the contracts, while the regional government agreed.
He explained that for these reasons, more work is required to find a legal solution that first ensures the rights of Iraq and its people to its wealth.
He added: As for transporting Basra oil through Turkish ports, the matter is subject to study and determining the economic feasibility first of all.
Currently, Iraq’s oil production is approximately 4 million barrels per day, according to data from the Ministry of Oil and the Organization of the Petroleum Exporting Countries (OPEC), while it imports about 25 million liters of gas oil, gasoline, and white oil daily, in addition to natural gas.
According to previous statements by Al-Sudani, Iraq intends to be self-sufficient in oil derivatives, stop imports, and save $3.2 billion link
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