The Central Bank decides to work with bank branches in Kurdistan
Official revealed in CBI, Tuesday, from going to rework with branches of banks operating in Kurdistan.
The source for the media including news, scales/”CBI heard views from banks that have branches in provinces of Kurdistan during the meeting convened, on Monday, at the headquarters of the Central Bank, which included the problems and dangers that await them in the event of the application of decision The Bank which came in implementation of the resolution and that the Council of representatives of Iraq at the request of the parliamentary Finance Committee.
He added, “the Central Bank understands the severity to apply that decision if applied fully”, stating that “the Finance Committee during the drafting of the decision not to convert foreign currency to banks that operate in Kurdistan, added to suspend her there was a paragraph added in The resolution stresses that further in this decision that does not affect the citizen’s need and hurt her, as some work suspension with branches of those banks would hurt the simple citizen, so the Bank decided to suspend certain paragraphs of the decision of the House of representatives. ”
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sandyf (Dinar Guru) – Of course Iraq can revalue at any time, done it several times over the years. A significant change can only be done at certain points in time. There is no precedent for anything other than percentage points on an overnight basis. [What are those “points in time?”…for any “significant” change…] It would need to be coincidental with an accounting period. Normally the smallest period would be a month… It should be fairly obvious that you cannot change wages an invoicing arrangements during a financial period. Also the structure of public companies would have to be altered. To understand the implications of a ‘significant’ change, people should look to what actually takes place during a redenomination. Zambia published online a set of technical guidelines for theirs which is well worth reading. A significant revaluation would be the equivalent of a redenomination without a change in currency code.
Read more: http://www.dinarupdates.com/observer/
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Bruce (Dinar Guru) – Right now we are in a situation where Iraq is looking to put out their actual rate for their dinar here if they haven’t done it already… I think we are looking to that possibly any moment. My understanding is their induction to the WTO, World Trade Organization, they need to have that international rate up and actively live beforehand. I don’t know how much before hand, I thought 3 days… …the control situation for Iraq has migrated over to the Central bank of Iraq, CBI, where they have the control on releasing that rate and showing that rate. That is a real positive step Iraq has done to do what they needed to do to be inducted into the WTO on Friday. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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Breitling (Dinar Guru) …The best strategy you can have is to be able to put different situations in front of you and have a game plan for each and every one of them that comes down. The top leaders in our country actually put together a strategy, they don’t just pick an A to Z strategy process. That would mean they know everything, that they would know exactly what’s coming down the road. And that’s not the case. That’s never the case. You have to know the different variables coming down the road and the different possibilities…I want to talk about the rate, there are articles coming out that we have Saudi Arabia pointing their fingers at Iran saying…these missiles coming from Yemen – that’s a declaration of war…If there’s going to be an Islamic civil war that’s going to affect Iraq right? Absolutely it is…remember the Iraqi dinar is completely manipulated..If…IF…there is an Islamic civil war…It’s not a threat to $1.17... [Post 1 of 2 Stay tuned for the rest of the story]
Read more: http://www.dinarupdates.com/observer/
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Follow us on twitter @DinarUpdates !!
Dinar Updates – Q & A Call – with BGG from Nov 8th – 8:00 pm Conference Call Phone # 641-715-3639 pin #528733
11/08 – Recorded Call Replay Link
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Key: Central measures are of interest to the UN Security Council
During discussions on money laundering and terrorism financing
*The Iraqi Central Bank (CBI) has been working hard to reach out to major international economic organizations, especially the Bank and the International Monetary Fund, to review joint programs and regulate the Iraqi financial sector and the progress it is making. Governor of the Central Bank of Iraq Ali al-Alaq said in an interview with “Sabah” said: “Iraq asked the IMF and the World Bank and specialized international organizations to support the organization of donors conference in Kuwait,
*As well as help Iraq to ease the problem of correspondent banks, revealing the completion of the bank “national strategy to combat money laundering to finance terrorism,” which will be transferred soon to the Council of Ministers for approval.
Read more: http://www.dinarupdates.com/showthread.php?55441-Key-Central-measures-are-of-interest-to-the-UN-Security-Council
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sandyf (Dinar Guru) – “The Tariff Law – “The new tariff, which went into effect on January 19, imposes a 30 percent customs duty on imported goods coming through Iraq’s crossing points, exempting the autonomous region of Kurdistan.” When the Tariff Law was introduced Iraq needed Kurdistan to help clear ISIS so they exempted them from the law, but in doing so stopped any further dealings with the WTO. Things have changed, Iraq can now take control and recommence the process, starting this Friday.
Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) – [According to an email…showing the World Trade Organization (WTO) schedule for the upcoming week:] “Informal Working Party on the ACCESSION OF IRAQ to the WTO is scheduled for 10 a.m., Friday, Nov. 17, 2017” Now how cool it that. WTO accession on 11/17/2017… Who said next year into 2018 today? lol WE all know the indicators Iraq has given us, have this on target for completion and this is a reality…
Read more: http://www.dinarupdates.com/observer/
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Dr. Clarke (Dinar Guru) – Over the years, there has been more than 1 Plan, to substantially increase the value of Iraq’s currency, as well as Vietnam’s currency. We only talk about the Dinar & the Dong, because these are the only 2 currencies, we have interest in. We believe that all other currencies for now, are simply “Not a good investment”, too speculative, not timed right, and fraught with too many disqualifying factors, for substantial increase, anytime soon, if EVER. We have NO strong evidence to the contrary. However, the Iraq Dinar and the Vietnam Dong is different. We believe that BOTH of these, are a VERY GOOD Gamble, and we don’t see that changing. All of you that say, “Nobody knows the timing”, would be Wrong. There ARE those that know EXACTLY when these 2 currencies will increase substantially. They know the Day and the Rates. Make No Mistake… [post 1 of 3….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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(IBAN) in banking transactions
In a move that gives rise to optimism for the advancement of the banking industry in the country Rafidain Bank circulated lists containing digitally organized accounts of its branches internationally accredited (IBAN) to all public and private banks.
IBAN is the abbreviation of the International Bank Account Number, a unique, unified and internationally agreed form for the bank account number for the purpose of processing transactions for banking transactions and facilitating electronic transfers between branches of banks in the world, in the sense that it is a digital organization of accounts of branches and customers in the sector Global banker Note that it is not a new bank account number, but is the same bank account number of any branch or citizen added numbers and letters from the left side.
IBAN is a mandatory requirement to send and receive money domestically and internationally safely, accurately and quickly in accordance with international banking regulations, and makes cheating almost impossible, but the use of IBAN in local remittances may be non-mandatory.
Read more: http://www.dinarupdates.com/showthread.php?55439-(IBAN)-in-banking-transactions
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Central Bank: The project of localization of salaries reduces the cost of printing currency and risk to individuals and institutions
Central Bank Governor Ali al-Alaq announced Wednesday that the project of localization of salaries will reduce the cost of printing the currency and reduce the direct and indirect risks to individuals and institutions, pointing out that the project aims to create a competitive market development of banking services.
*”In order to shift from a purely monetary society to a society that adopts electronic payment tools, the central bank has led this process through the acquisition of systems and infrastructure,” said Ali Al-Alak, governor of the Central Bank of Egypt. Best practices consistent with international standards “.
He added that “the project to settle salaries will reduce the cost of printing and counting and sorting the currency and reduce the direct and indirect risks to individuals and institutions.”
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Enorrste (Dinar Guru) – Article: “A simulation of the dinar exchange rate linked to a basket of currencies” We do not want the dinar tied to a basket of currencies. We want a freely floating currency. Let’s hope no one pays any attention to this guy.
Read more: http://www.dinarupdates.com/observer/
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Don961 (Dinar Guru) – Article: “A simulation of the dinar exchange rate linked to a basket of currencies” Just a simulation study…should the dinar get pegged to a basket of world reserve currencies … as opposed to staying ‘binary” (linked/pegged only to the USD)…shows how the exchange rate of the iqd would be affected should it be put into this world currency basket… Just doing such a study kinda shows the belief that the iqd perhaps is being considered/projected to join such a strong basket of world currencies … sounds good to me … % allocated to iqd in this basket would depend on how strong the currency will be compared to the others … at a given point in time…will it bypass the pound or the euro? … sure … why not …that would be cool wouldn’t it…imo.
Read more: http://www.dinarupdates.com/observer
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Mike (Dinar Guru) – Article: “Iraq still under the category of bankrupt countries?” Gee whiz, this guy sounds so negative: “He added that “the budget reveals beyond doubt the inability of any realistic treatments to find development, even if it is a formality to open future prospects to reduce dependence on oil revenues and stop domestic and external borrowing, which has no horizon to stop it and the payment of accumulated it puts the Iraqi economy in the near future on the verge of bankruptcy.” We have waited, literally, for years in hopes that Iraq would change and embrace the open market economy and allow the dinar to grow in value. And all we’re getting is the same old budget where expenditures exceed revenue. The existing political class is failing the Iraqi people. Like Mark Twain said, “Politicians and diapers must be changed often, and for the same reason.”
Read more: http://www.dinarupdates.com/observer
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Why is Baghdad paying salaries of Kurdistan employees?
BAGHDAD — Iraqi Prime Minister Haider al-Abadi intends to have the federal government adopt a policy of paying civil servants’ salaries in Iraqi Kurdistan without mediation from the Kurdistan Regional Government (KRG). This is considered a substantial improvement in the relationship between the federal government and Kurdish citizens in Iraqi Kurdistan, and the move is expected to strike at the very heart of Kurdistan’s economy and undermine Erbil’s authority, as it cannot refuse such an offer…
Read More: http://www.dinarupdates.com/showthread.php?55293-Why-is-Baghdad-paying-salaries-of-Kurdistan-employees&p=180167#post180167
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Recent Headlines…
Deputy for Change: We must reject the extension of the term of Barzani ‘s government tomorrow
@HaiderAlAbadi
“We have pushed the country’s economy in the right direction with sound management despite the huge fiscal deficit. Iraq has recovered more than before and its economic situation is better today”
@HaiderAlAbadi
“We have reduced the high salaries and large allocations of officials and protections and reduced government spending and all these shares exceeded the fiscal deficit”
@HaiderAlAbadi
“I thank the Iraqis for their patience and understanding of the economic situation of the country, and if not for their cooperation and patience, we have not achieved what has been achieved”
URGENT Cabinet votes on parliamentary elections on 15 May 2018
The President of the Republic approves the removal of the governor of Kirkuk (Side note – this was approved by Fuad Massoum; the KURDISH POR)
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MilitiaMan (Dinar Guru) – Article: “During his chairing a meeting of the Committee of Diwani Order No. (54) for the year 2017” Quote: “The Administrative Agent stresses the importance of completing the work of the Reform Committee and addressing the indicators of the assessment of Iraq in the annual report 2017...” This is valuation, assessment, it is in ones best interest to be paying attention to it..
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The Central Bank directs the banks not to deal with five individuals linked to Badash
The Central Bank of Iraq directed on Sunday, all banks and transfer companies not to deal with five individuals associated with “Daash and Al Qaeda.”
“Based on article 9, paragraph 2, of the 2016 Terrorist Freeze Regulations,” the bank said on its official website, referring to the AML / CFT book containing updates to the list of international sanctions included, as well as names of individuals and institutions And entities associated with Al-Qa’ida and Al-Qaeda to the list of sanctions imposed on Daqash and al-Qaeda mentioned in the decisions of the Committee for the freezing of terrorist funds.
All licensed banks, all financial transfer companies, all financial investment companies, all electronic payment companies and brokerage companies have been advised to sell and buy foreign currencies all by not dealing with these individuals and institutions below.
Read more: http://www.dinarupdates.com/showthread.php?55248-The-Central-Bank-directs-the-banks-not-to-deal-with-five-individuals-linked-to-Badash
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Click this link to join the DU “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
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Kirkuk: Asking the Next Big Questions
Will the Kurdish government join forces with the central Iraqi government in Baghdad to govern Kirkuk?
Before the ISF staged its operation, there had been rumors that the faction of the Patriotic Union of Kurdistan (PUK) party led by the Talabani family proposed jointly governing Kirkuk province with Baghdad. In seeming support of the rumors, the Talabani faction ordered Kurdish peshmerga fighters to withdraw and to allow ISF to retake some of the energy installations in the city. It’s still uncertain, however, if there’s a deal in place between the PUK and Baghdad to jointly manage the province’s government or its oil and natural gas resources. That a deal would exist makes sense given the longstanding divisions between the PUK and rival Kurdistan Democratic Party (KDP), which controls much of the economy in Iraqi Kurdistan.
Will Baghdad maintain control of Kirkuk’s oil exports?
It almost certainly will, at least in some capacity. For the last three years the Kurdistan Regional Government (KRG) has been able to export oil produced at the Bai Hassan oil field and the Avanah and Baba Gurgur formations of the Kirkuk oil field, given it had effectively appropriated and incorporated the fields into its own energy sector. The federal government is now in control of those fields and could use them in negotiations with the KRG. But, though Baghdad plans to rebuild its own pipeline to export oil from Kirkuk,
right now all export infrastructure from the city goes through Kurdish-controlled territory, which could complicate Baghdad’s ability to sell the oil Kirkuk produces. Baghdad, recognizing its constraints, could offer the KRG joint administration of the oil resources or continue transit contracts with it to distribute Iraq’s oil wealth. Alternatively, it could shut off production in Kirkuk to increase financial pressure on the Kurdish government. Thus, there’s the chance that Iraq’s northern oil exports — which amount to around 550,000
barrels per day — could decline by as much as 300,000 bpd. In the long run, Baghdad hopes to boost Kirkuk’s production to above 1 million bpd.
What will KRG President Massoud Barzani and his party, the KDP, do next?
The loss of control over parts of Kirkuk will weaken the KRG’s position, but it will weaken the KDP even more. Barzani was already facing criticism for extending his presidential mandate that originally was set to end in August 2015. Though he has supported parliamentary and presidential elections scheduled for Nov. 1, it’s not clear that they will actually be held. To rebuild some of his support, Barzani could tap into nationalistic sentiments by painting pro-PUK segments of the peshmerga, which withdrew from Kirkuk when Baghdad entered, as traitors and by holding fast to his calls for Kurdish independence from Iraq. It’s more likely, however, that the weakened KDP will reduce its demands on Baghdad to facilitate negotiations…
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Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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