Dinar Daily NEWS Blog – January 18th

Image result for Central Bank Governor Ali- al Alak pics

Governor of the Central Bank: Iraq’s financial situation continues to improve

“The financial situation in the country has begun to improve markedly because of high oil prices and fiscal discipline of the country, which is better than it was in the past,” he said.
“The state has great opportunities to improve control over government expenditures and increase non-oil revenues. There is still a step the government must take, but the financial commitment and discipline over the past period has been an important reason for the financial situation to be reversed,” he said.

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

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

Read more:   http://www.dinarupdates.com/showthread.php?55999-Governor-of-the-Central-Bank-Iraq%92s-financial-situation-continues-to-improve

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12/27 – Recorded Call Replay Link


The United States will participate with a large delegation at the Kuwait conference for the reconstruction of Iraq

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

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

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

Read more:  http://www.dinarupdates.com/showthread.php?55999-Governor-of-the-Central-Bank-Iraq%92s-financial-situation-continues-to-improve

Adam Montana (Dinar Guru) –   I’m pretty sure we can all agree that we don’t expect Iraq to give us a warning that they will raise the value of their currency. This is just something we expect to see happen, based on their progress with Government, Banking, Stability, and Political situations. Since we don’t expect them to give us a “heads up”, it should be easy to understand that a major change in the value of the IQD would happen when the world is distracted… like, by a bloodbath in one of the hottest topics on the planet right now?  In case you live under a rock, I’ll explain – the cryptosphere is currently in meltdown mode. “Huge losses”, “Major crash”, “The End Of It All”! That’s what the media is screaming right now… and nobody is even paying attention to Iraq.   [post 1 of 2….stay tuned]

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


Adam Montana (Dinar Guru) –   I’ll remind you that Iraq has a major share of one of the WORLD’s most v aluable resources. They aren’t heavy into technology, but they are advanced enough that major international banking can be turned on with the flip of a switch. Over the last year, we’ve seen key institutions and organizations mention that Iraq is welcome to join the big boys…if they want. We’ve waited for them to do so, and IMO the key to this all is still the HCL.  Could this media-crypto-frenzy be a perfect time to slip some action in while heads are turned? We will see.  [post 2 of 2]

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


Related image

Rafidain Bank announces the issuance of Master Card for Iraqis residing in Jordan and the UAE

Al-Rafidain Bank announced the issuance of the international MasterCard card for Iraqi citizens residing in Jordan and the UAE.
“MasterCard International has been issued at branches in Amman and Abu Dhabi for Iraqis residing there to receive their financial dues,” the bank’s press office said in a statement.

“The Bank’s branches in Beirut, Amman and Abu Dhabi continue to provide the best banking services to Iraqi residents in these countries.”
It is noteworthy that Rafidain Bank continues to provide services and banking facilities as well as the financial advances of various segments of society.

Read more:   http://www.dinarupdates.com/showthread.php?55993-Rafidain-Bank-announces-the-issuance-of-Master-Card-for-Iraqis-residing-in-Jordan-and


Abadi Gives Corrupt Individuals Two Options: Return Money or Face Prison

(Today’s FLASHBACK from November 2017)

Iraqi Prime Minister Haider al-Abadi has waged a fierce battle against corrupt officials, giving them two options: handing out the funds or face prison.

During his weekly press conference on Tuesday, Abadi said the corrupt had to either hand out the stolen money – and maybe get an amnesty – or lose their money and spend the rest of their lives in prison. He said his warning was similar to the government’s action against ISIS in terms of asking the militants to surrender or die.

Local sources clarified that Abadi was hinting to a prominent businessman and contractor who gained dozens of investment and service projects via his contacts during the term of Nouri al-Maliki between 2006-2014.

Abadi has been stressing in the past months on “fighting corruption” as his next step after defeating ISIS.

Islamic Dawa Party, in a statement, revealed that party member Salah Abdel Razek was investigated and found guilty of corruption.

“I tendered my resignation before the secretary general of Islamic Dawa Party Nouri al-Maliki due to the delicate situation of the party as well as personal reasons. I pledge to remain loyal to Maliki’s patriotic approach,” wrote Abdel Razek.

Islamic Dawa Party sources told Asharq Al-Awsat that the decision to sack Abdel Razek preceded his resignation statement.

The sources asserted that the party is seeking to abolish corruption ahead of elections expected in May, signaling that the party intends to sack and hold accountable a number of members who occupy critical positions in Iraq.

Dawa Party’s experience in the authority has severely impacted its reputation and led to frustration among the people, given that it keeps its grip over the highest executive authority in the country, meaning the premiership.

Read More: http://www.dinarupdates.com/showthread.php?55972-Abadi-Gives-Corrupt-Individuals-Two-Options-Return-Money-or-Face-Prison-(FLASHBACK)

BGG ~ Throwback Thursday!! A quick look back  to November of 2017 for those saying Abadi is as corrupt as all the rest and will do nothing about Maliki. I do not believe this to be the case.


Follow us on twitter @DinarUpdates !!

follow Dinar Updates on twitterDinar Updates  –  Q & A Call  –  with BGG from Dec 27th –  8:00 pm Conference Call Phone # 641-715-3639 pin #932875

12/27 – Recorded Call Replay Link


5.6 quake strikes Iran-Iraq border near Kurdish cities

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

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

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

Another 4.4 earthquake hit nearby halfway between the Kurdish majority cities of Kermanshah and Sanandaj in Iranian Kurdistan on Sunday morning in the already fragile city which suffered from a 7.3 magnitude quake in November…

Read More: http://www.dinarupdates.com/showthread.php?55974-5-6-quake-strikes-Iran-Iraq-border-near-Kurdish-city-(Erbil)&p=180882#post180882

Abadi is investigating around 125 individuals accused of smuggling money abroad

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

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

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

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

Read More: http://www.dinarupdates.com/showthread.php?55960-Abadi-is-investigating-around-125-individuals-accused-of-smuggling-money-abroad&p=180866#post180866

Some interesting headlines…

Gorran, Komal, CDJ join forces for Iraqi elections in disputed areas

Barham Salih, elected head of the Coalition for Democracy and Justice (CDJ). File photo

Barham Salih elected head of CDJ, pledges to fight corruption


KRG refutes Abadi’s figures, calls for ‘serious talks’


Despite losses, Kurds have ‘promising future’ if united: Masrour Barzani


How to recognize the counterfeit Iraqi currency

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

Read More: http://www.dinarupdates.com/showthread.php?55949-How-to-recognize-the-counterfeit-Iraqi-currency&p=180854#post180854

BGG ~ Here are a few obvious points…

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

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

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

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


Central Bank: We aim to complete all financial transactions electronically

After the completion of the infrastructure of payment system retail

Baghdad / Hussein Thagb – The Central Bank of Iraq for the coming period to make all financial transactions through the banking system and electronic systems developed by the Central Bank in the field of payments, which contribute to make the monetary mass an active player in the process of sustainable development

Director of Payments Department in the Central Bank of Iraq, said: “The central bank’s goal for the next phase is to complete all financial operations in the country for the public and private sectors through the banking sector.” She pointed out that “these operations are not through the deployment of equipment allocated in All places or issuing special cards and are pulling money through, but the integration of electronic collaboration is when the transactions in the public and private sectors as a whole through electronic cards so that this step will be complementary to the process of localization of salaries and become financial operations are Abraljhaz banking.

Dealing in Cash

She pointed out that the introduction of the private sector owner to a large block of cash to electronic transactions requires special products dealing with their trade and their needs for cash and be more flexible than dealing with cash, and here requires the introduction in the official channels of electronic transactions away from the complexity. To make all private sector institutions within the settlement of salaries, pointing out that this requires cooperation by public institutions such as taxes and departments of the
Ministry of Commerce.


“In view of the evolution of the Iraqi payment system, the launch of the salary settlement project, the remarkable progress in increasing the number of bank accounts and the completion of the retail payment infrastructure, which is one of the cornerstones of the improvement of the working environment, the aim is to attract deposits and manage remittances by banks On all levels (personal and commercial) and that all parties within the system and maintain the cycle of cash through the banking system and away from the circulation of cash “She drew Abdul Karim that”The opportunity for individuals of interest and crafts to register their entities from shops, shops, markets and workshops in the Registrar of Companies or any competent authority under the condition of the tax number and bank account are impossible if not accompanied by decisions to encourage, motivate and facilitate the formal procedures of registration to prevent manipulation and corruption at the same time Through cooperation between all parties, whether regulatory, security and municipal to be all these entities have a number / commercial record and a tax number and a bank account. ”

Electronic wallet

director of a specialized companies weigh – Tamimi said: ” The Partnership is working to provide e – wallet services through its network, and can co – pay bills, transfer money, buy electronic cards and more services,” pointing out that the deposit operations and withdrawals made through thousands of centers “The citizen can register in the electronic wallet with high speed, so that he can register in the temporary portfolio by logging into a specific application, where it is valid Live this wallet only sixty days. And can register in the wallet Aldaimip by going to the nearest authorized agent and submit the required documents and the identity of the Civil Status card housing. ”


He pointed out that the main objective of the localization of salaries is to spread the culture of dealing with the banking system, and that the salaries of employees guaranteed, because the banks dealt with by the Central Bank can be described as Almsrinp, “pointing out that” the central bank is the guarantor of salaries of employees, “He pointed out that” salaries not withdrawn by employees (savings) increase the liquidity of banks and may be used as development loans and thus become the salaries of state employees a tributary of economic growth. ”

Read More: http://www.dinarupdates.com/showthread.php?55946-Central-We-aim-to-complete-all-financial-transactions-electronically

Enorrste (Dinar Guru) –   Article:  “Central Bank: float the dinar is difficult to apply in Iraq”  Alaq is giving a progress report on the plans to open the currency to a float.  They have taken “a package of measures” to bring them to the point where a float will work. …Then he goes on to state that they are making efforts to achieve “financial inclusion” which I take to mean international acceptance of the dinar, now that the security and financial stability have been dealt with.  Finally, he concludes by stating that paying federal employees through bank deposits is working to get people to use the banks.  [post 1 of 2….stay tuned]

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

Enorrste (Dinar Guru) –    The reason for the delay, in my view, is this last item.  Unless and until the CBI can get the dinars out from the mattresses they are cautious to begin the float.  In short, there are just too many dinars in circulation.  However, as they get people to move to banking they can remove the large notes from circulation and begin the float.  Therefore, I see this article as positive.  It is a report card only but points to a goal (the float) that is imminent.  I get to this conclusion because…it specifically is mentioned that Egypt moved to a float, but “too late.”  This would imply to me that the CBI is not going to be “too late” in moving forward, unlike Egypt [post 2 of 2]

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


Iraq to export oil from Kirkuk by end of month: Minister

ERBIL, Kurdistan Region (Kurdistan 24) – Iraqi Oil Minister Jabar al-Luaibi on Sunday announced Baghdad will start exporting oil from the disputed province of Kirkuk to Iran before the end of January.

“About 30,000 barrels per day of crude will be trucked to Iran’s Kermanshah refinery in the first instance,” he said according to Reuters. “God willing, we will start before the end of the month.”

The recent deal signed with Tehran to swap up to 60,000 barrels per day (bpd) of oil from northern Kirkuk is for one year and subject to renewal, Luaibi said earlier in December.

An agreement between the two countries was signed last year which allows Iran to deliver crude “of the same characteristics and in the same quantities” as those it would receive from Kirkuk to southern Iraqi ports on the Gulf.

“This is an agreement for one year, and then we will see after that whether to renew it,” Luaibi told reporters in Kuwait on the sidelines of an Arab oil ministerial conference.

Read More:   http://www.dinarupdates.com/showthread.php?55938-Iraq-to-export-oil-from-Kirkuk-by-end-of-month-Minister

BGG (Dinar Guru) –   Article:  “Anti-Government protest continue for third day in some Kurdish cities”   These unfolding events are BIG NEWS…  Barzani’s “Old Guard” regime is on the verge of collapse.  Abadi has been plain in his efforts to protect and help ALL the people of Iraq.

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

Kaperoni (Dinar Guru) –   Article:  “A new term Atdoual Iraqi banks and earns “millions” during hours without paying one penny”  Quote:  “the daily speculation carried out by traders across the volatile instruments affect the stability of the currency rate and the size of the cash reserves of foreign currency because the bank will cover the needs of Iraq Foreign trade, but these speculators use these reserves for the purpose of profit.”   So they either reduce the spread to 2% or less as required by the IMF or start the currency reform and float the currency so they can eliminate the dollar auctions.

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

Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends on the currency

Said the director of the Rafidain Bank in Dhi Qar Hussein Abbadi in a televised interview broadcast by the local Nasiriyah that the introduction of ATM in the markets and banks are subject to the implementation of the decision to delete zeros from the Iraqi currency, pointing out that the Iraqi currency suffers from large inflation at the present time.


BGG ~ This article is from Dec – 2014 (I posted this a while back, as well…)

The person talking here is the director of the Rafidain Bank in Dhi Qar – Hussein Abbadi.

First off, I think this translation or reference to “inflation” is really talking about the size of the denominations and the value of the currency, not the actual inflationary index as many people assume. That would be a pretty long contextual leap. This is referring to the currency in a more direct sense.

He’s talking about the size of the notes and the value – IMHO.

Which, when taken in combination with the recent events – for instance, Rafidain offering this “wonderful ATM service” just lately, at least piques my interest.

Am I saying the ATM’s are loaded with lower denoms? No. They didn’t say that.

Am I saying A + B = C?? No. They didn’t say that either.

I am merely pointing out – in 2014, Rafidain laid out conditions for ATM services.

Here we are with a campaign to introduce this “miraculous ATM service”. Couple this with a very direct push to eliminate the CBI auctions… perfect STORM??

I do not know – but I am SO INTERESTED in watching this unfold.

P.S. Mr White and I did talk about this on our last call. Stay TUNED FOR MORE!!



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