Happy Independence Day!!

Image may contain: text that says 'NOW THE LORD IS THE SPIRIT, AND WHERE THE SPIRIT OF THE LORD IS, THERE IS FREEDOM. -2 2CORINTHIANS 3:17'Have a safe and happy holiday!!

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We buy Dinar!!

BGG ~ We buy (and sell) Dinar. If you would like to sell Dinar – please call me directly, leave me a voicemail, send a text (615-509-6256), send an e-mail or Facebook message me for a current quote.


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Parliamentary Integrity announces the preparation of lists to return smuggled money abroad

Parliamentary Integrity announces the preparation of lists to return smuggled money abroad

Gilgamesh Press / Baghdad – The Parliamentary Integrity Committee announced today, Thursday, the preparation of lists to recover money smuggled out of Iraq.

“The committee has a complete list of the smuggled money, containing the names of the people and the funds that are located outside Iraq,” said the committee’s decision, Abdul Amir Al-Mayahi.

He added that “Iraq has a lot of money abroad, some of it frozen and the other with dishonest hands.”

He pointed out that “the Corona pandemic prevented the movement of those funds,” pointing out that “the Integrity Committee summoned the head of the money recovery department outside Iraq to find out what before and after 2003 of the money, and after the end of the pandemic, the file will be fully followed up.”


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The central bank is likely to exchange employee salaries early next week

The central bank is likely to exchange employee salaries early next week

The Central Bank of Iraq, says…

(1) it is likely to pay the salaries of employees at the beginning of next week, while referring to the insurance of employee salaries for the months of July and August and September.

The Director General of Accounting at the Central Bank, Ihsan Shamran, said in a statement reported by the official Iraqi News Agency “Conscious” and viewed by him / the information / that

(2) “re-deduction of bonds in favor of the Ministry of Finance by about 8 trillion dinars”, indicating:

(3) “the bonds will enable the Ministry of Finance to secure employee salaries For the months of July, August and September.

(4) Shamran added, “The Central Bank made it easy for the Ministry of Finance to process the debt repayment for a period of 10 years,” noting that

(5) “the Ministry of Finance can receive money from banks.”

(6) He suggested, “Paying employees salaries at the beginning of next week,” pointing out that “there is a major role for the central bank in facing the current financial crisis.”


G.T. ~ The EARLY PART of Next Week !!!

Let’s See if We Have a NEW RATE Attached To The Payroll (Increased Purchasing Power For The Iraqi Employees)

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New Iraqi leader tries to rein in Iran-backed militias, but task proves daunting

New Iraqi leader tries to rein in Iran-backed militias, but task proves daunting

BAGHDAD — A raid ordered by Iraq’s new prime minister on militiamen accused of planning an attack against Baghdad’s international zone could mark a turning point in his government’s efforts to bring Iran-backed groups to heel.

The arrest of 14 members of Kataib Hezbollah late last month marked the boldest move yet by any Iraqi leader against the Iran-linked militias, which often operate in Iraq outside the law. Prime Minister Mustafa al-Kadhimi, who took office in May, has vowed to halt their attacks on foreign forces in the country, primarily U.S. troops.

But the response of the powerful militia to the June 26 raid underscores how challenging it will be for Kadhimi to recast the relationship between Iraq’s government and some of the country’s armed groups.

After gunmen in pickup trucks cruised Baghdad’s Green Zone demanding their comrades’ release, most were let go, and then welcomed back to the group’s headquarters as heroes. Television stations linked to the militias live-streamed the men burning American flags and stamping on photographs of Kadhimi’s face.

“Does it become remembered as a humiliation of the militias, because the government had the temerity to arrest their guys like they’re a bunch of criminals, or does this get remembered as the day the militias drove around the international zone like they owned it and took their guys back from the government?” said Michael Knights, a senior fellow at the Washington Institute for Near East Policy. “That’s the question.”

Iraqi militias, including a few with close ties to Iran, played a crucial role in fighting the Islamic State group in Iraq starting in 2014, and many are now an official part of the state security apparatus, receiving salaries and weapons from the government.

But some of the groups, known as Popular Mobilization Forces (PMF), have resisted giving up their autonomy, and militants from Iran-backed militias have repeatedly launched rocket attacks on military and diplomatic locations housing U.S. personnel, prompting American frustration over the Iraqi government’s failure to rein the groups in.

As the U.S. and Iraqi governments prepare for fresh talks on the state of their relationship, the presence of U.S.-led coalition troops and the security of those forces are at the top of the agenda. Last year, a rocket attack that killed a U.S. contractor brought the United States and Iran to the brink of war on Iraqi soil.

Immediately after becoming prime minister, Kadhimi addressed militia leaders and fighters and warned of forces trying to harm the PMF’s relationship with the government, a veiled reference to attacks on U.S. forces by Iran-backed groups.

But the rocket attacks have not entirely stopped. So Kadhimi ordered the raid on Kataib Hezbollah, saying he had intelligence suggesting the group was preparing to strike the Green Zone.

Iraq’s special forces were notified early in the morning of an imminent mission. By the time their orders came down hours later, they had already guessed the target, according to a member of the special forces. “To be honest, we were excited. It’s about time someone moved against them,” he said, speaking on the condition of anonymity because of the sensitivity of the issue.

He said the special forces encountered no resistance. “This is a new era. They learned that attacks will have consequences,” he said.

Within hours, the armed militiamen responded, showcasing how easily they could enter the heavily guarded Green Zone and demanding the suspects’ release. All but one were let go, with the judge citing insufficient evidence.

But no rockets have landed near Western military or diplomatic facilities since then.

“It’s inconceivable that this would have happened nine months ago,” Knights said. “If this happens again, which I think it will, well, that’s the real test. Next time, [the militia will] be a lot more ready to hang on to their guys.”

Although Iran remains powerful in Iraq, Tehran’s allies have suffered various setbacks over the past nine months, Knights said, including the loss of Abu Mahdi al-Muhadis, who had led the PMF, in the U.S. drone strike in January that also killed a top Iranian commander, Gen. Qasem Soleimani. The militias were also blamed for violently repressing protests in Iraq’s mostly Shiite Muslim south.

Against this backdrop, Kadhimi made a gamble by raiding Kataib Hezbollah, challenging a group that is rarely confronted.

“They probably thought that Kadhimi was all talk, and this raid sent a different message out: that he is willing to back up his talk with these actions,” said Sajad Jiyad, a visiting fellow with the European Council on Foreign Relations. “There is rhetoric on both sides, but on the ground, I think that Kataib Hezbollah will be very careful going forward.”

In a statement Monday, Kataib Hezbollah’s secretary general emphasized its autonomy and rejected calls that the group hand over its weapons to the state, saying they should be used in the service of an Islamic resistance movement that includes other Iran-linked groups in Syria, Lebanon and farther afield.

But this rhetoric aside, Jiyad stressed that the group partly derives its legitimacy with supporters from being part of the official Iraqi security forces.

“Remember, these are meant to be government forces led by the commander in chief. They cannot suddenly find themselves in complete opposition,” Jiyad said. “For now, I think that both sides are taking stock.”

Other PMF militias were more restrained in their reaction to the raid, suggesting they wanted to distance themselves from actions that might be seen as antagonistic to the Iraqi government.

“I think more-established players see which direction the wind is blowing,” said Inna Rudolf, a research fellow at the International Center for the Study of Radicalization and Political Violence at King’s College London. Leading PMF figures have recently signaled their discomfort with the parallel authority some Iran-linked groups maintain, she said.

Western officials and analysts focused on Iraq say the coming months will be pivotal for Kadhimi’s efforts to curb the unruliest behavior of some militias.

There are few indications that Kadhimi is seeking to fundamentally reform the PMF or weaken its official position, which is governed by a law outlining the status of the militias and the remuneration its members receive. Many of the militias have a popular following and representatives in the parliament, and continue to play a security role across swaths of the country.

“The ball is in the militias’ court now, really,” said one Western diplomat, speaking on the condition of anonymity because he was not authorized to speak to the media. “If they choose to lob some more rockets, then Kadhimi really has to come through and back this up. Otherwise, the moment is gone. They’ve won.”

“Has he overplayed his hand?” asked another Western official. “Time will tell.”


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Central Bank: We may take a decision to review the extension of the deferred loan repayment

Central Bank: We may take a decision to review the extension of the deferred loan repayment

The central bank explained the reasons for reducing loan interest for economic projects.

Ihsan Shamran, Director General of Accounting at the Central Bank, said in a statement to the Iraqi News Agency,

“The monetary policy of the Central Bank differs from the financial policy, and its decisions are usually short-term. Corona pandemic. ”

Shamran added that “the central bank had previously postponed the loan repayment period for a period of three months from April to the first of this July.”

The Central Bank of Iraq, had announced earlier, to reduce the interest rate on small and medium loans to four percent to accelerate the recovery of the Iraqi economy after being damaged by the Corona pandemic.


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Finance Committee: The Iraqi economy needs to “restructure”

Finance Committee: The Iraqi economy needs to “restructure” … to achieve additional resources possible with these mechanisms

Baghdad today – The Finance Committee of the Iraqi Parliament, Ahmed Al-Saffar, believed today, Thursday, that the Iraqi economy needs to be completely restructured, noting that the measures of the government and parliament are temporary solutions.
The decision of the Finance Committee Ahmed Al-Saffar told (Baghdad today), “The solutions proposed by the Ministry of Finance, the government and even Parliament, regarding internal and external borrowing, are immediate solutions that solve the crisis for a month or two,” noting that “Iraq needs a complete restructuring of the Iraqi economy and policies Financial and economic. ”

He added, “We must get rid of the rentier economy unilaterally, meaning that the sources of the economy are diversified and the productive sectors that are producing goods and services are energized, to raise from the gross domestic product: the sectors of agriculture, industry, trade, tourism, transport, transportation, and infrastructure.”

He pointed out, “We must use the agricultural sector correctly and scientifically, and with all the requirements of a sound agricultural sector in Iraq from fertile land, water suitable for cultivation and manpower, we need a plan.”

He pointed out that “in the year 2003 the exploited agricultural areas were up to 48 million dunums, and Iraq had almost reached a level of semi-self-sufficiency, now the cultivated areas currently range from 12 to 14 million dunums only,” stressing, “and as a result of that reliance was placed on import In everything in Iraq. ”

He explained that “the import turn leads to a deficit in the Iraqi trade balance and the exit of the hard currency from Iraq while there are alternatives to import.”

He added that “the agricultural sector is the other in Iraq is weak, so we need a sector that depends on agriculture, and also resort to food industries, led to the consumption of large amounts of Iraqi hard currency and go abroad.”

He stressed that “the adoption of simple technology with simple capital, through which we can build medium-sized factories (medium industry), which is called the economy, link the two sectors together, the industry benefits agriculture and agriculture benefits the industry and leads to an integrated production that covers the Iraqi market and exports them abroad.”

And that “the issue needs a comprehensive economic plan, from allocating funds to move all economic sectors and all the requirements that exist, and we only lack the factor of management and regulation.”

He added that “the money that comes out because of the import is large, as the central bank sometimes sells an average of 200 million dollars a day in exchange for imports.”
He continued, “Import leads to the loss of hard currency abroad and the deficit of the trade balance, and the realization of benefit to the countries from which it is imported, increasing the unemployment rate and weakening the national product.”

And the Central Bank of Iraq decided, on Tuesday (30 June 2020), to reduce the interest of loans in order to support the economic and productive sectors, in light of the outbreak of the Corona virus.

The media office of the bank stated in a statement received (Baghdad today), that “with the continued economic repercussions caused by the Corona pandemic and the restrictions imposed by it that curbed economic activity in most of the productive and service sectors, and the decline in oil revenues, the Central Bank of Iraq decided to enhance the liquidity of existing projects, which were Funding it from the (one trillion) initiative in the amount of (5) million dinars for those who wish to do so, with the guarantees of the same project in exchange for administrative commissions and without interest.

The statement added, “The central bank directed banks and guarantor companies to reduce interest from (4.8%) to (3.5%) for borrowers within the 1-20 million dinar segment and reduce bank loan interest from the 21 million to 1 billion dinar segment after it was (6.3%) ) To become (4%). ”

He pointed out that “the central bank also directed banks, taking into account projects related to the tourism, hotels and restaurants sectors whose recovery may be prolonged by studying postponing their premiums for a longer period until they recover from the pandemic crisis.”


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Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi

Mr. Al-Kazemi: Restoring consideration to Mr. Sinan al-Shabibi

I do not know Mr. Sinan al-Shabibi and I have never met him, but I have heard like the rest of the citizens that he is excluded from the central bank because he refused to obey the orders of corrupt heads and implement what they ask of him and accused him of false accusations, and this corrupt elements have vandalized him by the vile methods to topple the national and clean elements and the man is known on a global level Mrs. Magda Al-Tamimi made a statement in an interview during Al Sharqiya TV channel in the past days that the currency auction takes advantage of one-fourth of the corrupt in the Central Bank, so what is required is to take Mrs. Al-Tamimi’s claim seriously, open an extensive investigation in this regard, restore consideration to Mr. Sinan Al-Shabibi and return him to his position as governor of the Central Bank and benefit From his experience and sincerity

(This is a brief summary from the free encyclopedia)

Sinan Muhammad Raza al-Shabibi “Sinan al-Shabibi” was born (July 1, 1941, Baghdad) economist and governor of the Central Bank of Iraq from September 2003 to October 2012. It is the first governor of the Central Bank after the occupation of Iraq by the coalition forces.

His upbringing and education

Al-Shabibi was born in Baghdad on July 1, 1941, and his father, Muhammad Reza al-Shabibi, is a prominent Iraqi poet, thinker, and politician. Al-Shabibi attended the College of Economics and Political Science at the University of Baghdad and graduated in 1966 with a Bachelor’s degree in Economics, and also obtained a diploma in Graduate Studies in Development and Economics, Masters degree in Economics from the University of Manchester in Manchester, United Kingdom (1970-1971) . He also obtained a PhD in Economics from the University of Bristol in Bristol, UK in 1975.

The beginning of his career

From May 1975 until March 1977, Sinan al-Shabibi was the head of the Import and Marketing Department of the Iraqi Ministry of Oil, and from April 1977 until December 1980, al-Shabibi was the head of the Planning and Coordination Department of the Iraqi Ministry of Planning.

After the Iraq-Iran war erupted, al-Shabibi moved to Geneva, Switzerland, where he stayed from December 1980 to October 2001 and worked as an economist at the United Nations Conference on Trade and Development.

Governor of the Central Bank of Iraq

Since assuming the position of governor of the Central Bank of Iraq, he has introduced modern accounting and payment systems for the financial institution, replaced manual printers and computers with modern computer systems, and accounting tools as currency auctions, and replaced the pre-2003 currency with the new currency between October 2003 and January 2004. He also With the participation of the Iraqi Central Bank in the International Monetary Fund and the World Bank, in addition to the Paris Club negotiations where 19 countries agreed to forgive Iraq from 80% of pre-2003 debts to help Iraq recover from the post-war era that was led by the United States in 2003.

Despite local and regional instability in the region, Al-Shabibi managed to maintain the Iraqi dinar exchange rate against the US dollar at 1190 dinars per 1 US dollar (while the exchange rate was 2214 dinars per 1 dollar in 2002), and reduced the inflation rate (from 64% in 2006, to 5.2% in 2012), and doubled the gold reserves to 32 tons, and remained a strong advocate for the independence of the Central Bank. His use of these policies and the rise in oil revenues helped raise foreign exchange reserves to approximately $ 67 billion (in September 2)) over December 2002 $ 2.7 billion 2012)

We hope that the right man is in the right place.


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Journey to search for ‘smuggled money’ … the Integrity Committee talks about a ‘tight plan’!

Journey to search for ‘smuggled money’ … the Integrity Committee talks about a ‘tight plan’!

On Sunday, the Parliamentary Integrity Committee confirmed the completion of a plan to return the smuggled money outside the country.

Member of the Integrity Committee, MP Youssef Al-Kalabi, said in an interview with the official agency, and it was followed by “NAS” (June 14, 2020). And executive. ”

Al-Kalabi pointed out that “the best solution to get out of the crisis is by recovering the stolen money, especially since there is public, institutional and judicial support for recovering it.”

The Recovery Department of the Integrity Commission announced earlier that coordination with the Public Prosecution, the Iraqi Interpol and the Ministries of Foreign Affairs and Justice had achieved positive results in recovering contraband funds, seizing other funds, and instituting cases outside Iraq to recover contraband funds


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Iraq informs America of completing preparations for the strategic dialogue

Iraq informs America of completing preparations for the strategic dialogue

imageBaghdad – Mawazine News, Minister of Foreign Affairs, Fouad Hussein, confirmed on Monday that completing preparations for a strategic dialogue between Iraq and the United States of America.

In a statement, Mawazine News / received a copy of, the Information Office of the Minister of Foreign Affairs stated that the latter “met with the United States Ambassador to Baghdad Matthew Toller.”

He added: “At the beginning of the meeting, the American ambassador expressed his congratulations to the minister on the assumption of his position as Minister of Foreign Affairs of the Republic of Iraq.”

The foreign minister stressed, according to the statement, “the completion of preparations for the run of the strategic dialogue with America,” usually that it “represents an important station that will frame the priorities of Baghdad and Washington.”

He stressed “the necessity to continue the positive development of the various distinct
aspects of bilateral cooperation.” Ended 29 / A 43


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