The dollar is falling again on the Iraq Stock Exchange 

[Ayn-Baghdad] Foreign exchange markets in Baghdad, on Tuesday morning, continued decline in the dollar exchange rate against the Iraqi dinar.

The market price in the Kifah Stock Exchange in Baghdad was 1195.5 dinars per dollar, ie 119 thousand and 550 dinars per hundred dollars.

The prices of selling and buying dollars in banking companies were:

The sale price of one dollar 1200 dinars, or 120 thousand dinars, for one hundred dollars.

And the purchase price of the dollar is 1190 dinars, or 119 thousand dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq.

Foreign Exchange Rates Gold, Oil and Oil:

EUR World Price: 100 Euro = 120.55 USD The
World Price: 100 Billion = 137.54
Turkish Lira: World Price: $ 100 = 404.30
Turkish Lira = Ounce Gold = $ 1311.10
Brent Crude Oil = $ 74.73
The price of a barrel of US crude oil = 68.54 dollars.

Article Credit: alliraqnews.com (Special Thanks to Vernell Washington)

BGG ~ This is good. The exchange continues to “fall”… (against the USD) – which means it’s getting better.

______________________________________________________________

Who are the corrupt in Iraq?

Maliki, when threatening his political opponents with files of corruption, does not disclose his (own) personal corruption.

By: Farouk Yousef

As the legislative elections in Iraq approach, the condemnation of corruption and corruption has escalated to the point that we recognize that Iraq is the only country in the world where the opinion of the people and politicians is in line with the call to fight corruption exceptionally.

Everyone there stands against corruption. The poor and the rich. Outcasts and Privileges. Servants and gentlemen. Secularists and Baptists. Public and private. Intellectuals and secondhand clothing vendors. Opponents and beneficiaries of the spoils of the system of sectarian quotas. Former murderers and new killers. Imams of mosques and militia leaders who committed the most heinous crimes.

At every moment, the Iraqis seem to be coming out in a demonstration against corruption these days. They have nothing to do except to attack corruption. Which in turn suggests a typical awakening after the night of long religious parties.

Corruption has destroyed the lives of Iraqis. That’s true. Corruption humiliated them and defeated them and deviated by their morals, they became either robbers or thieves. Corruption has destroyed their values, their customs and the realities of their lives, and stolen the most beautiful of what they have – social solidarity and tolerance in looking at the different one. Corruption has deprived them of education, health, and infrastructure services and has destroyed their ability to see the facts as they are. Neither their religion nor their world is fresh.

All this is true, but corruption is not an abstract or intellectual phenomenon.

Here is a legal question: “Who are the corrupt?” No corruption of non-corrupt…

Read More: http://www.dinarupdates.com/showthread.php?56775-Who-are-the-corrupt-in-Iraq&p=181774#post181774
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Sandyf (Dinar Guru) –   “The Governor of the Iraqi Central Bank issued a statement that floating of the Iraqi dinar currency is very hard to implement as the monopoly of Iraqi government regarding the distribution of the U.S dollar and other foreign currencies in the country. The CBI Governor Ali Al-Alak said in a press interview that most oil producing and exporting countries rely on a fixed exchange rate or fixed according to flexibility. It doesn’t affect the mechanism of floating the currency and never happened in Iraq or other oil rich countries.”  The statement from Alak is ambiguous and could be interpreted various ways. A floating exchange rate is not the preferred option of an emerging economy so I see it highly unlikely.  Egypt was forced into it and lost half its value overnight, not a particularly good example.

Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $164,447,400 on 02 May 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on May 2 registered $164,447,400 in sales, a -5.69% volume decline from the US $174,367,874 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 30.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on May 2 compared to the previous auction.

Data for the May 2 auction was made public by CBI Announcement Number 3690.

Dollar sales in the in the period January 1, 2018 to May 2, 2018 saw an increase of -1% compared to the sales of US $11.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions.

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Visa Card for “Economy News”: The Iraqi market is promising and has a good future

Economy News Baghdad – Visa International announced that the Iraqi Iraqi market is promising and has a good future, stressing that the banking sector is committed to the strategy set by the Central Bank.

“Visa Card considers the Iraqi market to be promising and the banking sector is committed to the strategy led by the central bank in addition to having several competencies,” said Tarek Husseini, regional director of Visa International, To deal professionally with mistakes to avoid wasting more time to promote the reality. ”

He pointed out that the company signed a contract with the Central Bank to activate its strategy on financial coverage and expand the base of electronic payments in the Iraqi market and provide the necessary services for that.

Article Credit: economy-news.net (Special Thanks to Charles Bright)
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Abadi is just around the corner from the second term

Baghdad / Al-Ghad Press: The leader of the Dawa Party, MP Ali al-Alak, expected on Thursday that Prime Minister Haider al-Abadi will have a second term as prime minister.

“Prime Minister Haider al-Abadi has a strong chance to take over as prime minister again after the May elections,” al-Aalak told Al-Ghad Press.

“Abadi is the favorite among all the political figures for this position and is therefore just around the corner from the second term,” he said.

He explained that “through the extrapolations of political figures, the person Abadi has the qualifications to renew confidence as prime minister, especially as he led the country in a critical period and succeeded.”

Article Credit: alghadpress.com (Special Thanks to Tim Tarkington)
______________________________________________________________

Breitling (Dinar Guru) –  …What would be the optimal time for Iraq to revalue?  This is just my opinion.  I have not heard them talk about this and there are no articles attached to this…it very rare that I throw my opinion out.  In my opinion they should revalue before the prices go down in energy…if they wait for the oil prices to go down too far then they can only make money off revaluing their currency…What’s the date?  I don’t know.  What’s that rate?  They are going to have to have enough to compete in the world.  In other words they have to have a price that people can go out and invest…for people to take the dinar seriously.  So it’s not going to be at a tenth of a penny.  It’s not going to be two cents.  It’s not going to be ten cents.  It’s going to be up there…the currency has to be able to compete with the Euro and the US dollar.  And that’s how it works and that’s what’s coming down the road.  It’s all based on energy and the projection of energy…

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

Kaperoni (Dinar Guru) –    …there is a news article that says the price is 1200 to $1 which is well within compliance.  Yesterday’s reports from the auction had conflicting articles that varied from 1215 to $1 to 1205 to $1. Giving Iraq the benefit of the doubt, it appears that they are still in compliance and moving forward on the 90-day requirement.  Remember the CBI stopped reporting officially the daily auctions last year so all we have is news articles as confirmation.

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

BAGHDAD – hosts investors from all over the world to rebuild Iraq

In addition to the decisions of the Kuwait Conference, a number of investors from all over the world gathered in Baghdad to present their investment projects for the reconstruction of Iraq under the umbrella of the General Secretariat of the Council of Ministers, which aims to create a fertile environment for investors and enact legislation to facilitate the routine procedures that hinder the work of investors in the country.

“We must prepare an investment map, what is the geography of investment in Iraq and what priorities we need, we need to rebuild the infrastructure, especially in the areas that the income has been encouraging,” said Riyadh al-Adadh, head of the Baghdad Provincial Council.

The Iraqi government recently focused on increasing investment opportunities in the country to reconstruct the affected areas by providing an environment conducive to them, represented by the security situation and remove abuses that hinder the work of investors.

Article Credit: en.economiciraq.com
______________________________________________________________

Sandyf (Dinar Guru) –   …The fundamental problem in all this is the interpretation of the term “revaluation”.   Revaluation is a recognized term in respect of an upward change in the value of a currency on a fixed exchange rate. Currencies on a floating exchange appreciate rather than revalue. Revaluation can also be used as the overall outcome of a re-denomination, in this case it is a revaluation of the monetary unit and not the currency itself.  Under certain circumstances the term can be used when the price of something changes value. It is just financially impossible for the Iraqi dinar to move from the current rate to around $4 in a currency revaluation per se. If there is to be any significant return on the dinar it has to come from a different direction.  …As far as Iraq is concerned, the re-denomination could be the end of monetary reform, not the beginning…

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

Kaperoni (Dinar Guru) –   Well here’s the deal… None of these numbers that are being reported are official so even though they may be in compliance or out of compliance there is nothing official from the CBI these are just third-party numbers being reported from media outlets.  So now visiting two or three other media outlets I have found yet another set of reported spread numbers from today’s auction and these numbers are within compliance. These are reporting sale of the dollar at 1200 to $1.  Since there is no way to confirm the legitimacy of these numbers all we can do is wait out the 3 month IMF requirement and see what happens.

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

Iraqi Supreme Court: Article 140 is in force and must be implemented

The Supreme Federal Court issued a decision on constitutional article 140, noting that it is one of the important articles of the Constitution and does not die in any way.

The legal expert Khalil Mirani said in an interview with the official website of the Kurdistan Democratic Party that the Federal Supreme Court issued a few days ago its decision on the constitutional article 140, explaining that according to the court’s decision, Article 140 of the articles of the Iraqi Constitution is not in any form and must be implemented, he said.

He added that “the decision came in response to the people and the Iraqi forces, which claimed that the 140 has expired, but the Kurds insist on it, because the Iraqi authorities when the implementation of any constitutional article in favor of the Kurds do not implement.”

The legal expert pointed out that “the Kurds have been busy during the last period of building Iraq to live all Iraqi people under the state in all their components after 80 years of dictatorship and become a federal democracy,” but added that “it appeared that those who ascend the throne of power in Iraq governed by mentality Previous itself “.

He stressed that “the implementation of Article 140 until 2007, but it was not implemented, because of Baghdad,” pointing out that “the Kurds will not give up those areas of Kurdistan, which falls within the constitutional Article 140.”

He explained that “most of those areas were until last year under the authority of the Kurdistan Region,” but added that “because of some traitors, the region lost those territories.”

“The people should punish the traitors who caused this great betrayal in the loss of part of the territory of Kurdistan,” he said.

Article Credit: shafaaq.com

BGG ~ In the simplest terms: it was predicted, Article 140 was one of the 3 main issues needing solved before any major market shift could happen…

______________________________________________________________

Some interesting headlines…

Oil is at its highest level since 2014

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

Iraqi oil ministry calls on US companies to increase their presence in Iraq

______________________________________________________________

A campaign poster of former Iraqi Prime Minister Nuri al-Maliki is seen in the street ahead of the parliamentary election, in Baghdad, Iraq, May 1, 2018. Picture taken May 1, 2018. REUTERS/Thaier al-Sudan

Iraq’s Maliki poses as Shi’ite champion in race for top job

BAGHDAD (Reuters) – Former Iraqi Prime Minister Nuri al-Maliki fulfilled his life-long goal of wresting power from the country’s minority Sunnis after the fall of Saddam Hussein but his drive to entrench Shi’ite dominance proved his downfall.

Blamed for the widespread corruption and divisive policies that contributed to the collapse of the Iraqi military and the rise of Islamic State, Maliki lost the premiership to fellow Dawa Party member Haider al-Abadi after a 2014 election.

Now, after four years sidelined as one of three largely ceremonial vice-presidents, Maliki is taking on Abadi in a May 12 election in a bid to win a third term as prime minister, and is posing again as Iraq’s Shi’ite champion.

Posters of Grand Ayatollah Mohammed Baqir al-Sadr who was executed by Saddam in 1980 fly at Maliki’s rallies, the dominant color of his campaign banners is the green of Islam and he is proposing to do away with the power-sharing formula that has ensured government roles for the dominant non-Shi’ite groups.

Sentenced to death under Saddam for being part of the outlawed Shi’ite Islamic Dawa Party, Maliki spent nearly a quarter of century in exile mainly in Syria and Iran, continually agitating for the dictator’s downfall.

After returning in 2003, Maliki joined Iraq’s interim government and became prime minister in 2006, establishing a reputation as a shrewd political operator and the Shi’ite leader who pulled Iraq back from the brink of civil war.

Maliki’s supporters praise him for signing Saddam’s death warrant in 2006 and for refusing to allow U.S. forces to stay in Iraq beyond 2011.

But during eight years in office, Maliki was also perceived as an inveterate sectarian who alienated the minority Sunnis and Kurds by shutting them out of key security positions and undermining power-sharing.

“When he became prime minister, he continued to function as an underground Dawa operative. He put in place shadow Dawa cells in each ministry reporting directly to him, and not the minister,” said a non-Shi’ite who served in Maliki’s cabinet.

“It wouldn’t be far-fetched to say that he created a parallel government and parallel security services reporting directly to him,” the former minister told Reuters.

Responding to accusations Maliki ran a parallel government, his media adviser, Abbas al-Musawi, said the former prime minister was at times forced to launch initiatives directly to boost the economy when he felt ministers from other groups were delaying or obstructing the work of government.

Blamed for letting Islamic State seize a third of Iraq in 2014, Maliki was blocked from winning a third term by Iraq’s top Shi’ite cleric, Grand Ayatollah Ali al-Sistani, opening the door for Abadi to become prime minister.

‘POLITICAL MAJORITY’

On the face of it, Maliki’s campaign call for a multi-ethnic “political majority” government to make the administration more efficient and cohesive could be seen as a break with his past.

Maliki is proposing to replace the system whereby the cabinet must reflect the parliamentary representation of political parties with a multi-ethnic governing majority and a multi-ethnic opposition minority.

But non-Shi’ite politicians fear the plan could keep the main non-Shi’ite groups out of government and reduce their influence, in contrast to the more inclusive policies of Abadi.

“Shi’ite religious parties have been controlling the key positions of the state, public administrations and security services since 2003. Having a political majority rule under these conditions will remove all the checks and balances non-Shi’ite parties have,” said Jaber al-Jaberi, a Sunni MP.

Opponents say the proposed system would, in practice, allow a prime minister to chose Kurd or Sunni ministers who are not representatives of the main Kurdish or Sunni parties, as long as they were qualified and agreed on a common program.

“The claims that there is a deep state controlled by the Dawa is a big lie,” said Saad al-Muttalibi, a lawmaker from Maliki’s group in parliament.

Campaign posters of former Iraqi Prime Minister Nuri al-Maliki is seen ahead of the parliamentary election, in Baghdad, Iraq, May 1, 2018. Picture taken May 1, 2018. REUTERS/Thaier al-Sudan

“The previous (Maliki) governments were partnership cabinets and the political forces that took part in them share the credit of success and the blame of failure,” he said.

Maliki’s followers see his removal in 2014 as a conspiracy because he championed Shi’ite interests in Iraq and the region.

“He is a strong leader, he is not afraid of confrontation,” said Mohamed Ghabbar, a student in the Shi’ite holy city of Kerbala, south of the capital Baghdad.

In Syria, Maliki sided with Shi’ite neighbor Iran and Bashar al-Assad in the civil war pitting the Syrian president against predominantly Sunni opponents backed by Saudi Arabia, Qatar and Turkey.

Like many Iraqi Shi’ite leaders Maliki is closely tied to Iran, where he built relationships during his exile.

In his election campaign, Maliki continues to advocate an anti-Saudi line, implicitly criticizing Abadi for rebuilding bridges with Riyadh and other Sunni capitals.

“I had told these countries that I won’t allow the regime in Syria to fall,” he said in an April 24 interview to Al Mayadeen, a Lebanese TV channel close to Assad, who belongs to the Alawite sect which is an offshoot of Shi’ism.

“Saudi Arabia failed (in Syria) and it is trying now to bring Iraq to the Saudi alliance. Iraq can’t be part of this alliance,” he said, in an apparent reference to a conference in Kuwait in February to raise funds for Abadi to rebuild Iraq.

As the leader of the Dawa Party, Maliki will command a solid base of Shi’ite support in the election, especially from religious Shi’ites wary of power-sharing.

But this time round, the Shi’ite vote looks set to be split between three frontrunners: Abadi, Maliki and another ally of Iran, militia leader Hadi al-Amiri, whose stature and popularity rose after he commanded the fight against Islamic State.

If no clear winner emerges, Maliki will have to call on all his negotiating skills again to secure a governing alliance, or risk being sidelined once more.

Article Credit: Reuters.com
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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!!)

______________________________________________________________

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
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Central Bank of Iraq Auctions $164,447,400 on 02 May 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on May 2 registered $164,447,400 in sales, a -5.69% volume decline from the US $174,367,874 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 30.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on May 2 compared to the previous auction.

Data for the May 2 auction was made public by CBI Announcement Number 3690.

Dollar sales in the in the period January 1, 2018 to May 2, 2018 saw an increase of -1% compared to the sales of US $11.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions.

______________________________________________________________

Who are the corrupt in Iraq?

Maliki, when threatening his political opponents with files of corruption, does not disclose his (own) personal corruption.

By: Farouk Yousef

As the legislative elections in Iraq approach, the condemnation of corruption and corruption has escalated to the point that we recognize that Iraq is the only country in the world where the opinion of the people and politicians is in line with the call to fight corruption exceptionally.

Everyone there stands against corruption. The poor and the rich. Outcasts and Privileges. Servants and gentlemen. Secularists and Baptists. Public and private. Intellectuals and secondhand clothing vendors. Opponents and beneficiaries of the spoils of the system of sectarian quotas. Former murderers and new killers. Imams of mosques and militia leaders who committed the most heinous crimes.

At every moment, the Iraqis seem to be coming out in a demonstration against corruption these days. They have nothing to do except to attack corruption. Which in turn suggests a typical awakening after the night of long religious parties.

Corruption has destroyed the lives of Iraqis. That’s true. Corruption humiliated them and defeated them and deviated by their morals, they became either robbers or thieves. Corruption has destroyed their values, their customs and the realities of their lives, and stolen the most beautiful of what they have – social solidarity and tolerance in looking at the different one. Corruption has deprived them of education, health, and infrastructure services and has destroyed their ability to see the facts as they are. Neither their religion nor their world is fresh.

All this is true, but corruption is not an abstract or intellectual phenomenon.

Here is a legal question: “Who are the corrupt?” No corruption of non-corrupt…

Read More: http://www.dinarupdates.com/showthread.php?56775-Who-are-the-corrupt-in-Iraq&p=181774#post181774
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Sandyf (Dinar Guru) –   “The Governor of the Iraqi Central Bank issued a statement that floating of the Iraqi dinar currency is very hard to implement as the monopoly of Iraqi government regarding the distribution of the U.S dollar and other foreign currencies in the country. The CBI Governor Ali Al-Alak said in a press interview that most oil producing and exporting countries rely on a fixed exchange rate or fixed according to flexibility. It doesn’t affect the mechanism of floating the currency and never happened in Iraq or other oil rich countries.”  The statement from Alak is ambiguous and could be interpreted various ways. A floating exchange rate is not the preferred option of an emerging economy so I see it highly unlikely.  Egypt was forced into it and lost half its value overnight, not a particularly good example.

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

______________________________________________________________

Visa Card for “Economy News”: The Iraqi market is promising and has a good future

Economy News Baghdad – Visa International announced that the Iraqi Iraqi market is promising and has a good future, stressing that the banking sector is committed to the strategy set by the Central Bank.

“Visa Card considers the Iraqi market to be promising and the banking sector is committed to the strategy led by the central bank in addition to having several competencies,” said Tarek Husseini, regional director of Visa International, To deal professionally with mistakes to avoid wasting more time to promote the reality. ”

He pointed out that the company signed a contract with the Central Bank to activate its strategy on financial coverage and expand the base of electronic payments in the Iraqi market and provide the necessary services for that.

Article Credit: economy-news.net (Special Thanks to Charles Bright)
______________________________________________________________

Abadi is just around the corner from the second term

Baghdad / Al-Ghad Press: The leader of the Dawa Party, MP Ali al-Alak, expected on Thursday that Prime Minister Haider al-Abadi will have a second term as prime minister.

“Prime Minister Haider al-Abadi has a strong chance to take over as prime minister again after the May elections,” al-Aalak told Al-Ghad Press.

“Abadi is the favorite among all the political figures for this position and is therefore just around the corner from the second term,” he said.

He explained that “through the extrapolations of political figures, the person Abadi has the qualifications to renew confidence as prime minister, especially as he led the country in a critical period and succeeded.”

Article Credit: alghadpress.com (Special Thanks to Tim Tarkington)
______________________________________________________________

Breitling (Dinar Guru) –  …What would be the optimal time for Iraq to revalue?  This is just my opinion.  I have not heard them talk about this and there are no articles attached to this…it very rare that I throw my opinion out.  In my opinion they should revalue before the prices go down in energy…if they wait for the oil prices to go down too far then they can only make money off revaluing their currency…What’s the date?  I don’t know.  What’s that rate?  They are going to have to have enough to compete in the world.  In other words they have to have a price that people can go out and invest…for people to take the dinar seriously.  So it’s not going to be at a tenth of a penny.  It’s not going to be two cents.  It’s not going to be ten cents.  It’s going to be up there…the currency has to be able to compete with the Euro and the US dollar.  And that’s how it works and that’s what’s coming down the road.  It’s all based on energy and the projection of energy…

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

Kaperoni (Dinar Guru) –    …there is a news article that says the price is 1200 to $1 which is well within compliance.  Yesterday’s reports from the auction had conflicting articles that varied from 1215 to $1 to 1205 to $1. Giving Iraq the benefit of the doubt, it appears that they are still in compliance and moving forward on the 90-day requirement.  Remember the CBI stopped reporting officially the daily auctions last year so all we have is news articles as confirmation.

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

BAGHDAD – hosts investors from all over the world to rebuild Iraq

In addition to the decisions of the Kuwait Conference, a number of investors from all over the world gathered in Baghdad to present their investment projects for the reconstruction of Iraq under the umbrella of the General Secretariat of the Council of Ministers, which aims to create a fertile environment for investors and enact legislation to facilitate the routine procedures that hinder the work of investors in the country.

“We must prepare an investment map, what is the geography of investment in Iraq and what priorities we need, we need to rebuild the infrastructure, especially in the areas that the income has been encouraging,” said Riyadh al-Adadh, head of the Baghdad Provincial Council.

The Iraqi government recently focused on increasing investment opportunities in the country to reconstruct the affected areas by providing an environment conducive to them, represented by the security situation and remove abuses that hinder the work of investors.

Article Credit: en.economiciraq.com
______________________________________________________________

Sandyf (Dinar Guru) –   …The fundamental problem in all this is the interpretation of the term “revaluation”.   Revaluation is a recognized term in respect of an upward change in the value of a currency on a fixed exchange rate. Currencies on a floating exchange appreciate rather than revalue. Revaluation can also be used as the overall outcome of a re-denomination, in this case it is a revaluation of the monetary unit and not the currency itself.  Under certain circumstances the term can be used when the price of something changes value. It is just financially impossible for the Iraqi dinar to move from the current rate to around $4 in a currency revaluation per se. If there is to be any significant return on the dinar it has to come from a different direction.  …As far as Iraq is concerned, the re-denomination could be the end of monetary reform, not the beginning…

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

Kaperoni (Dinar Guru) –   Well here’s the deal… None of these numbers that are being reported are official so even though they may be in compliance or out of compliance there is nothing official from the CBI these are just third-party numbers being reported from media outlets.  So now visiting two or three other media outlets I have found yet another set of reported spread numbers from today’s auction and these numbers are within compliance. These are reporting sale of the dollar at 1200 to $1.  Since there is no way to confirm the legitimacy of these numbers all we can do is wait out the 3 month IMF requirement and see what happens.

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

Iraqi Supreme Court: Article 140 is in force and must be implemented

The Supreme Federal Court issued a decision on constitutional article 140, noting that it is one of the important articles of the Constitution and does not die in any way.

The legal expert Khalil Mirani said in an interview with the official website of the Kurdistan Democratic Party that the Federal Supreme Court issued a few days ago its decision on the constitutional article 140, explaining that according to the court’s decision, Article 140 of the articles of the Iraqi Constitution is not in any form and must be implemented, he said.

He added that “the decision came in response to the people and the Iraqi forces, which claimed that the 140 has expired, but the Kurds insist on it, because the Iraqi authorities when the implementation of any constitutional article in favor of the Kurds do not implement.”

The legal expert pointed out that “the Kurds have been busy during the last period of building Iraq to live all Iraqi people under the state in all their components after 80 years of dictatorship and become a federal democracy,” but added that “it appeared that those who ascend the throne of power in Iraq governed by mentality Previous itself “.

He stressed that “the implementation of Article 140 until 2007, but it was not implemented, because of Baghdad,” pointing out that “the Kurds will not give up those areas of Kurdistan, which falls within the constitutional Article 140.”

He explained that “most of those areas were until last year under the authority of the Kurdistan Region,” but added that “because of some traitors, the region lost those territories.”

“The people should punish the traitors who caused this great betrayal in the loss of part of the territory of Kurdistan,” he said.

Article Credit: shafaaq.com

BGG ~ In the simplest terms: it was predicted, Article 140 was one of the 3 main issues needing solved before any major market shift could happen…

______________________________________________________________

Some interesting headlines…

Oil is at its highest level since 2014

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

Iraqi oil ministry calls on US companies to increase their presence in Iraq

______________________________________________________________

A campaign poster of former Iraqi Prime Minister Nuri al-Maliki is seen in the street ahead of the parliamentary election, in Baghdad, Iraq, May 1, 2018. Picture taken May 1, 2018. REUTERS/Thaier al-Sudan

Iraq’s Maliki poses as Shi’ite champion in race for top job

BAGHDAD (Reuters) – Former Iraqi Prime Minister Nuri al-Maliki fulfilled his life-long goal of wresting power from the country’s minority Sunnis after the fall of Saddam Hussein but his drive to entrench Shi’ite dominance proved his downfall.

Blamed for the widespread corruption and divisive policies that contributed to the collapse of the Iraqi military and the rise of Islamic State, Maliki lost the premiership to fellow Dawa Party member Haider al-Abadi after a 2014 election.

Now, after four years sidelined as one of three largely ceremonial vice-presidents, Maliki is taking on Abadi in a May 12 election in a bid to win a third term as prime minister, and is posing again as Iraq’s Shi’ite champion.

Posters of Grand Ayatollah Mohammed Baqir al-Sadr who was executed by Saddam in 1980 fly at Maliki’s rallies, the dominant color of his campaign banners is the green of Islam and he is proposing to do away with the power-sharing formula that has ensured government roles for the dominant non-Shi’ite groups.

Sentenced to death under Saddam for being part of the outlawed Shi’ite Islamic Dawa Party, Maliki spent nearly a quarter of century in exile mainly in Syria and Iran, continually agitating for the dictator’s downfall.

After returning in 2003, Maliki joined Iraq’s interim government and became prime minister in 2006, establishing a reputation as a shrewd political operator and the Shi’ite leader who pulled Iraq back from the brink of civil war.

Maliki’s supporters praise him for signing Saddam’s death warrant in 2006 and for refusing to allow U.S. forces to stay in Iraq beyond 2011.

But during eight years in office, Maliki was also perceived as an inveterate sectarian who alienated the minority Sunnis and Kurds by shutting them out of key security positions and undermining power-sharing.

“When he became prime minister, he continued to function as an underground Dawa operative. He put in place shadow Dawa cells in each ministry reporting directly to him, and not the minister,” said a non-Shi’ite who served in Maliki’s cabinet.

“It wouldn’t be far-fetched to say that he created a parallel government and parallel security services reporting directly to him,” the former minister told Reuters.

Responding to accusations Maliki ran a parallel government, his media adviser, Abbas al-Musawi, said the former prime minister was at times forced to launch initiatives directly to boost the economy when he felt ministers from other groups were delaying or obstructing the work of government.

Blamed for letting Islamic State seize a third of Iraq in 2014, Maliki was blocked from winning a third term by Iraq’s top Shi’ite cleric, Grand Ayatollah Ali al-Sistani, opening the door for Abadi to become prime minister.

‘POLITICAL MAJORITY’

On the face of it, Maliki’s campaign call for a multi-ethnic “political majority” government to make the administration more efficient and cohesive could be seen as a break with his past.

Maliki is proposing to replace the system whereby the cabinet must reflect the parliamentary representation of political parties with a multi-ethnic governing majority and a multi-ethnic opposition minority.

But non-Shi’ite politicians fear the plan could keep the main non-Shi’ite groups out of government and reduce their influence, in contrast to the more inclusive policies of Abadi.

“Shi’ite religious parties have been controlling the key positions of the state, public administrations and security services since 2003. Having a political majority rule under these conditions will remove all the checks and balances non-Shi’ite parties have,” said Jaber al-Jaberi, a Sunni MP.

Opponents say the proposed system would, in practice, allow a prime minister to chose Kurd or Sunni ministers who are not representatives of the main Kurdish or Sunni parties, as long as they were qualified and agreed on a common program.

“The claims that there is a deep state controlled by the Dawa is a big lie,” said Saad al-Muttalibi, a lawmaker from Maliki’s group in parliament.

Campaign posters of former Iraqi Prime Minister Nuri al-Maliki is seen ahead of the parliamentary election, in Baghdad, Iraq, May 1, 2018. Picture taken May 1, 2018. REUTERS/Thaier al-Sudan

“The previous (Maliki) governments were partnership cabinets and the political forces that took part in them share the credit of success and the blame of failure,” he said.

Maliki’s followers see his removal in 2014 as a conspiracy because he championed Shi’ite interests in Iraq and the region.

“He is a strong leader, he is not afraid of confrontation,” said Mohamed Ghabbar, a student in the Shi’ite holy city of Kerbala, south of the capital Baghdad.

In Syria, Maliki sided with Shi’ite neighbor Iran and Bashar al-Assad in the civil war pitting the Syrian president against predominantly Sunni opponents backed by Saudi Arabia, Qatar and Turkey.

Like many Iraqi Shi’ite leaders Maliki is closely tied to Iran, where he built relationships during his exile.

In his election campaign, Maliki continues to advocate an anti-Saudi line, implicitly criticizing Abadi for rebuilding bridges with Riyadh and other Sunni capitals.

“I had told these countries that I won’t allow the regime in Syria to fall,” he said in an April 24 interview to Al Mayadeen, a Lebanese TV channel close to Assad, who belongs to the Alawite sect which is an offshoot of Shi’ism.

“Saudi Arabia failed (in Syria) and it is trying now to bring Iraq to the Saudi alliance. Iraq can’t be part of this alliance,” he said, in an apparent reference to a conference in Kuwait in February to raise funds for Abadi to rebuild Iraq.

As the leader of the Dawa Party, Maliki will command a solid base of Shi’ite support in the election, especially from religious Shi’ites wary of power-sharing.

But this time round, the Shi’ite vote looks set to be split between three frontrunners: Abadi, Maliki and another ally of Iran, militia leader Hadi al-Amiri, whose stature and popularity rose after he commanded the fight against Islamic State.

If no clear winner emerges, Maliki will have to call on all his negotiating skills again to secure a governing alliance, or risk being sidelined once more.

Article Credit: Reuters.com
______________________________________________________________

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!!)

______________________________________________________________

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
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Iraqi Supreme Court: Article 140 is in force and must be implemented

The Supreme Federal Court issued a decision on constitutional article 140, noting that it is one of the important articles of the Constitution and does not die in any way.

The legal expert Khalil Mirani said in an interview with the official website of the Kurdistan Democratic Party that the Federal Supreme Court issued a few days ago its decision on the constitutional article 140, explaining that according to the court’s decision, Article 140 of the articles of the Iraqi Constitution is not in any form and must be implemented, he said.

He added that “the decision came in response to the people and the Iraqi forces, which claimed that the 140 has expired, but the Kurds insist on it, because the Iraqi authorities when the implementation of any constitutional article in favor of the Kurds do not implement.”

The legal expert pointed out that “the Kurds have been busy during the last period of building Iraq to live all Iraqi people under the state in all their components after 80 years of dictatorship and become a federal democracy,” but added that “it appeared that those who ascend the throne of power in Iraq governed by mentality Previous itself “.

He stressed that “the implementation of Article 140 until 2007, but it was not implemented, because of Baghdad,” pointing out that “the Kurds will not give up those areas of Kurdistan, which falls within the constitutional Article 140.”

He explained that “most of those areas were until last year under the authority of the Kurdistan Region,” but added that “because of some traitors, the region lost those territories.”

“The people should punish the traitors who caused this great betrayal in the loss of part of the territory of Kurdistan,” he said.

Article Credit: shafaaq.com

BGG ~ In the simplest terms: it was predicted, Article 140 was one of the 3 main issues needing solved before any major market shift could happen…

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Saleh: Iraq is on the verge of a banking boom

Baghdad / Al-Sabah – The start of financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure where the world ended, and the advancement of the national economy through The interaction with all segments of the society without exception to be the results for the benefit of the national economy through the positive interaction between the banking system and citizen and launched yesterday the effectiveness of the week of inclusiveness to continue its activities for 7 days, targeting all segments of society in different places and sectors, This interest stems from the important positive role of financial inclusion in the reality of the national economy.

Financial services

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh praised the step and promised the task and the Iraqi financial sector and said: “As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments in the community, the renaissance led by the government and the central bank together in making the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. ”

“Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today,” he said, adding that “the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. ”

“Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era,” Saleh said. Banking Education The Director General of Payments in the Central Bank of Iraq, Suha Abdul Karim, has shown “the central quest to develop the financial sector and banking through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society,” noting that “In This framework brings attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the banking education of services, especially for women, as well as for the students, whether schools or universities, Mia Banking “.

Mainstream products

Executive Director of the Association of Iraqi Private Banks Ali Tariq said: “The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector.”

Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties.

“Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy. Paiement added that ” the Central Bank and the Association of private banks to supervise directly on the organization of financial inclusion Week , which was launched in conjunction with the Arab countries , ” noting that “Iraq wants to increase the number of dealers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public Loans, electronic payments and others. ” Tarek pointed out that “the events of the week of financial inclusion include the Iraqi banks to display their products in public places that it deems appropriate from universities and commercial centers and others,” noting that ”

Development Agenda

International Financial Inclusion Expert d. Sadiq al-Shammari stressed that “it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. ”

International statistics for 2014 show that nearly one billion of the world’s adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular.

“The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage,” he said. The direct impact of the South Islamic Bank relations director Jamal Shaker al – Rubaie said the “speed in the variables and the technological race puts the media in the forefront of the direct means of influencing public opinion , because the media ‘s role is to create cultural awareness and orientation in the community.”

“Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. ”

He stressed that “financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards.

Short loans

“Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity,” said Haidar Kazem al-Baghdadi.

“Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. ”

Economic life

In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari. Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion.

The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns.

Read More: http://www.dinarupdates.com/showthread.php?56739-Saleh-Saleh-Iraq-is-on-the-verge-of-a-banking-boom (Special Thanks to Loopster)

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Continued decline in the dollar exchange in Iraq

[Ayna-Baghdad] – Foreign currency markets in Baghdad, on Tuesday morning, a decline in the dollar exchange rate against the Iraqi dinar.

The market price on the Kifah Stock Exchange in Baghdad was 1196 dinars per dollar, or 119 thousand and 600 dinars per hundred dollars.

The prices of selling and buying dollars in banking companies were:

The sale price of one dollar 1200 dinars, or 120 thousand dinars, for one hundred dollars.
And the purchase price of the dollar is 1190 dinars, or 119 thousand dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 122.15 USD The
World Price: 100 Bounds = 139.44 $ The
Turkish Lira The International Price: $ 100 = 409.70 Turkish Lira

Article Credit: Alliraqnews.com Special Thanks to Vernell Washington

BGG ~ There has been a lot of great news out the last few days. This, however, will fly under the radar yet is very, very important. The USD / IQD rate continues to decline. Looking better and better everyday.

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Adam Montana (Dinar Guru) –  [Instead of asking when, I’m gonna ask how much longer can Iraq survive with the currency the way it is?]   Realistically, the answer is “indefinitely”. But I believe they have motivation to RV, so the question goes back to “when”.   [Do you think they will really wait until after elections, cabinet formation and Ramadan?]  I can’t speculate any more than I have already done regarding the “when” – hopefully immediately after elections but before Ramadan. 

Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $197,457,640 on April 26th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 26 registered $197,457,640 in sales, a 21.58% volume increase from the US $162,405,813 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 25.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 26 compared to the previous auction.

Data for the April 26 auction was made public by CBI Announcement Number 3686.

Dollar sales in the in the period January 1, 2018 to April 19, 2018 saw an increase of -1% compared to the sales of US $10.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions.

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Tomorrow will start the week of financial inclusion in Iraq

​
The Association of Iraqi Private Banks announced the launch of the Financial Inclusion Week on Wednesday in all parts of the country, with the aim of increasing the dealings with the banking sector.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a press statement that “on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy “He said.

He added that “the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with Arab countries,” noting that “Iraq wants to increase the number of customers with the banking sector to a large proportion because it will make citizens enjoy the banking services available to the public of loans Electronic payment and others. ”

He pointed out that “the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others.” He pointed out that “the banks will during the week of financial coverage to open bank accounts and the granting of credit cards and others.”

Article Credit: http://economy-news.net Special Thanks to Charles Bright!!
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Mnt Goat (Dinar Guru) –   I believe Abadi when he says “after the election.” We will see the project to delete the zeros…So where are we really? We are kind of in a waiting mode for the next couple weeks to see how this election all shakes out on May 12th.   …We know Iraq is ramping up seriously for the 2018-2022 Development & Reconstruction Plan. They are having yet another Investment conference and its this week. This time it is in Iraq. Remember they have had many of these conferences and seminars over the years and so they probably will have many more, even after they reinstate their currency.  I can assure you that Haider al-Abadi has a very good opportunity to get re-elected. If he does, we are going to see Iraqi just take off during the rest of 2018 and into 2019.

Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) –   Article “The Central Bank signs a memorandum with Visa International tomorrow”  This is the same day for the start of the Financial Inclusion… Smells International! Article 8, convertible currency…   What we all know now is that is about to change starting from what they say: TOMORROW. The memorandum  with VISA comes the day of the beginning of Financial Inclusion. …they were given phones by the CBI  months ago and those phones are being used for a purpose and that purpose is now openly stated by the CBI that they are about to distribute the new notes and that they have a suitable environment.  Citizens are getting TEXT MESSAGES now to come in and get paid,  cards, exchange, etc…The program rate is imo about to change and they clearly are not hiding it.  The process is underway and almost complete. I believe your witnessing that each and everyday.

Read more: http://www.dinarupdates.com/observer/
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The Central Bank signs a memorandum with Visa International tomorrow

Economy News Baghdad  – The Central Bank of Iraq announced that it will sign a memorandum with Visa International on Wednesday to grant its legal framework within Iraq.
“On Wednesday, the central bank will sign a memorandum of understanding with Visa International that will provide the legal framework for the company in terms of providing services, consultancy and support to the banking and financial sector,” said Central Bank Payments Department Director, Duha Abdel Kareem.

“The presence of Visa International in Baghdad will make a positive change on the economic market,” adding that “the central bank has steps to support competition between international financial companies.”

Article Credit: Economy-news.net Special Thanks to Sherry Miller
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Frank26 (Dinar Guru) –   IMO, they printed just the small notes and the others (three zero notes) are being collected, and they will not be replaced.   The three zero notes and the small denom’s are going to co-exist together.  They don’t care about the three zero notes.  And even though the CBI gave the banks and exchangers the plan several weeks ago, the banks and money exchangers are refusing the TZN’s.   Therefore, The citizens are now applying pressure.  Complaining to the government, the CBI. …CBI issued a statement and said, “STOP refusing the three zero notes.”  The CBI is listening to the citizens and addressing this issue.  Telling the “banks, money changers, don’t mess this up!  We told you the plan through the memo we sent you weeks ago.”

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  First off the cbi’s exchange rate is not a program rate. It is the real value of the Iraq dinar as it appreciated from almost 3,500 to $1 back in 2004 when it was introduced as the new Iraqi currency.  There has been a few adjustments most recently in an agreement with the IMF none of which refers to it as program rate… And when the CBI moves off the peg to a float, as well as opening its capital account, the CBI will then have a means to appreciate the currency gradually.

Read more: http://www.dinarupdates.com/observer/
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Arab Monetary Fund announces the establishment of a regional entity to settle payments between the 22 countries

The Arab Monetary Fund (AMF) announced on Sunday that its board of directors has approved the establishment of an independent regional entity to settle payments among the 22 member states.

Arab countries have ended plans to set up an independent payment system across the region after high compliance costs and global banks have reduced their activities to undermine existing arrangements.

Correspondent banks currently handle most of the payments and settlements among Arab countries and act as agents for foreign institutions that have no actual presence in a country.

US and European banks’ tightening in recent years has increased the cost of anti-money laundering, while some banks have moved out of the market to focus on more profitable sectors.

The fund did not specify a timing for the new mechanism to start, but Bank officials had earlier expected it to start operating in 2020. The capital of the new entity, backed by Arab banks, would be $ 100 million and owned by the Arab Monetary Fund.

The new entity aims to support the use of local currencies in the settlement process between Arab countries as well as major international currencies.

Article Credit: http://economy-news.net/content.php?id=12029 Special Thanks to Vernell Washington
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Some interesting headlines…

Oil is at its highest level since 2014

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

Iraqi oil ministry calls on US companies to increase their presence in Iraq

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An Iraqi delegation will visit Kuwait next month to follow up the pledges of the reconstruction conference

The reconstruction fund of the affected areas revealed on Tuesday the visit of an Iraqi delegation to Kuwait early next month to follow up the commitments made at the reconstruction conference of Iraq.

“An Iraqi delegation consisting of the Secretary-General of the Council of Ministers Mahdi Al-Alaq and the Chairman of the Reconstruction Fund and a delegation from the Ministry of Education will visit Kuwait on the fifth of next month to follow up the commitments made by Kuwait on the reconstruction of Iraq,” he said.

Al-Hiti added that ’47 countries made pledges at the Kuwait conference, ‘noting that’ such pledges need to sign agreements and this may take time in such conferences, but it remains. ‘

He added that ‘the Republic of Egypt has expressed its willingness to receive students from the affected areas and also received patients to deal with them and these are all pledges and there is a higher committee to follow up these pledges.’

He pointed out that ‘will be held next Thursday, a meeting in the Rashid Hotel to follow up the investment projects that were presented at the Kuwait conference,’ explaining that ‘a section of companies submitted to Iraq to carry out these projects will be discussed these projects in this forum.’

On February 14, Kuwait hosted a conference for the reconstruction of the affected areas in Iraq. The Kuwaiti Foreign Minister announced at a press conference at the end of the conference about the collection of 30 billion dollars out of the 88 billion dollars Iraq declared its need for reconstruction of liberated areas and other areas in the provinces Other.

Article Credit: ikhnews.com Special Thanks to Tim Tarkington
______________________________________________________________

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!!)

______________________________________________________________

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
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Saleh: Iraq is on the verge of a banking boom

Baghdad / Al-Sabah – The start of financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure where the world ended, and the advancement of the national economy through The interaction with all segments of the society without exception to be the results for the benefit of the national economy through the positive interaction between the banking system and citizen and launched yesterday the effectiveness of the week of inclusiveness to continue its activities for 7 days, targeting all segments of society in different places and sectors, This interest stems from the important positive role of financial inclusion in the reality of the national economy.

Financial services

Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh praised the step and promised the task and the Iraqi financial sector and said: “As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments in the community, the renaissance led by the government and the central bank together in making the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. ”

“Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today,” he said, adding that “the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. ”

“Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era,” Saleh said. Banking Education The Director General of Payments in the Central Bank of Iraq, Suha Abdul Karim, has shown “the central quest to develop the financial sector and banking through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society,” noting that “In This framework brings attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the banking education of services, especially for women, as well as for the students, whether schools or universities, Mia Banking “.

Mainstream products

Executive Director of the Association of Iraqi Private Banks Ali Tariq said: “The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector.”

Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties.

“Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy. Paiement added that ” the Central Bank and the Association of private banks to supervise directly on the organization of financial inclusion Week , which was launched in conjunction with the Arab countries , ” noting that “Iraq wants to increase the number of dealers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public Loans, electronic payments and others. ” Tarek pointed out that “the events of the week of financial inclusion include the Iraqi banks to display their products in public places that it deems appropriate from universities and commercial centers and others,” noting that ”

Development Agenda

International Financial Inclusion Expert d. Sadiq al-Shammari stressed that “it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. ”

International statistics for 2014 show that nearly one billion of the world’s adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular.

“The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage,” he said. The direct impact of the South Islamic Bank relations director Jamal Shaker al – Rubaie said the “speed in the variables and the technological race puts the media in the forefront of the direct means of influencing public opinion , because the media ‘s role is to create cultural awareness and orientation in the community.”

“Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. ”

He stressed that “financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards.

Short loans

“Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity,” said Haidar Kazem al-Baghdadi.

“Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. ”

Economic life

In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari. Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion.

The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns.

Read More: http://www.dinarupdates.com/showthread.php?56739-Saleh-Saleh-Iraq-is-on-the-verge-of-a-banking-boom (Special Thanks to Loopster)

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Continued decline in the dollar exchange in Iraq

[Ayna-Baghdad] – Foreign currency markets in Baghdad, on Tuesday morning, a decline in the dollar exchange rate against the Iraqi dinar.

The market price on the Kifah Stock Exchange in Baghdad was 1196 dinars per dollar, or 119 thousand and 600 dinars per hundred dollars.

The prices of selling and buying dollars in banking companies were:

The sale price of one dollar 1200 dinars, or 120 thousand dinars, for one hundred dollars.
And the purchase price of the dollar is 1190 dinars, or 119 thousand dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 122.15 USD The
World Price: 100 Bounds = 139.44 $ The
Turkish Lira The International Price: $ 100 = 409.70 Turkish Lira

Article Credit: Alliraqnews.com Special Thanks to Vernell Washington

BGG ~ There has been a lot of great news out the last few days. This, however, will fly under the radar yet is very, very important. The USD / IQD rate continues to decline. Looking better and better everyday.

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Adam Montana (Dinar Guru) –  [Instead of asking when, I’m gonna ask how much longer can Iraq survive with the currency the way it is?]   Realistically, the answer is “indefinitely”. But I believe they have motivation to RV, so the question goes back to “when”.   [Do you think they will really wait until after elections, cabinet formation and Ramadan?]  I can’t speculate any more than I have already done regarding the “when” – hopefully immediately after elections but before Ramadan. 

Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $197,457,640 on April 26th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 26 registered $197,457,640 in sales, a 21.58% volume increase from the US $162,405,813 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 25.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 26 compared to the previous auction.

Data for the April 26 auction was made public by CBI Announcement Number 3686.

Dollar sales in the in the period January 1, 2018 to April 19, 2018 saw an increase of -1% compared to the sales of US $10.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions.

______________________________________________________________

Tomorrow will start the week of financial inclusion in Iraq

​
The Association of Iraqi Private Banks announced the launch of the Financial Inclusion Week on Wednesday in all parts of the country, with the aim of increasing the dealings with the banking sector.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a press statement that “on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy “He said.

He added that “the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with Arab countries,” noting that “Iraq wants to increase the number of customers with the banking sector to a large proportion because it will make citizens enjoy the banking services available to the public of loans Electronic payment and others. ”

He pointed out that “the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others.” He pointed out that “the banks will during the week of financial coverage to open bank accounts and the granting of credit cards and others.”

Article Credit: http://economy-news.net Special Thanks to Charles Bright!!
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Mnt Goat (Dinar Guru) –   I believe Abadi when he says “after the election.” We will see the project to delete the zeros…So where are we really? We are kind of in a waiting mode for the next couple weeks to see how this election all shakes out on May 12th.   …We know Iraq is ramping up seriously for the 2018-2022 Development & Reconstruction Plan. They are having yet another Investment conference and its this week. This time it is in Iraq. Remember they have had many of these conferences and seminars over the years and so they probably will have many more, even after they reinstate their currency.  I can assure you that Haider al-Abadi has a very good opportunity to get re-elected. If he does, we are going to see Iraqi just take off during the rest of 2018 and into 2019.

Read more: http://www.dinarupdates.com/observer/
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MilitiaMan (Dinar Guru) –   Article “The Central Bank signs a memorandum with Visa International tomorrow”  This is the same day for the start of the Financial Inclusion… Smells International! Article 8, convertible currency…   What we all know now is that is about to change starting from what they say: TOMORROW. The memorandum  with VISA comes the day of the beginning of Financial Inclusion. …they were given phones by the CBI  months ago and those phones are being used for a purpose and that purpose is now openly stated by the CBI that they are about to distribute the new notes and that they have a suitable environment.  Citizens are getting TEXT MESSAGES now to come in and get paid,  cards, exchange, etc…The program rate is imo about to change and they clearly are not hiding it.  The process is underway and almost complete. I believe your witnessing that each and everyday.

Read more: http://www.dinarupdates.com/observer/
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The Central Bank signs a memorandum with Visa International tomorrow

Economy News Baghdad  – The Central Bank of Iraq announced that it will sign a memorandum with Visa International on Wednesday to grant its legal framework within Iraq.
“On Wednesday, the central bank will sign a memorandum of understanding with Visa International that will provide the legal framework for the company in terms of providing services, consultancy and support to the banking and financial sector,” said Central Bank Payments Department Director, Duha Abdel Kareem.

“The presence of Visa International in Baghdad will make a positive change on the economic market,” adding that “the central bank has steps to support competition between international financial companies.”

Article Credit: Economy-news.net Special Thanks to Sherry Miller
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Frank26 (Dinar Guru) –   IMO, they printed just the small notes and the others (three zero notes) are being collected, and they will not be replaced.   The three zero notes and the small denom’s are going to co-exist together.  They don’t care about the three zero notes.  And even though the CBI gave the banks and exchangers the plan several weeks ago, the banks and money exchangers are refusing the TZN’s.   Therefore, The citizens are now applying pressure.  Complaining to the government, the CBI. …CBI issued a statement and said, “STOP refusing the three zero notes.”  The CBI is listening to the citizens and addressing this issue.  Telling the “banks, money changers, don’t mess this up!  We told you the plan through the memo we sent you weeks ago.”

Read more: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –  First off the cbi’s exchange rate is not a program rate. It is the real value of the Iraq dinar as it appreciated from almost 3,500 to $1 back in 2004 when it was introduced as the new Iraqi currency.  There has been a few adjustments most recently in an agreement with the IMF none of which refers to it as program rate… And when the CBI moves off the peg to a float, as well as opening its capital account, the CBI will then have a means to appreciate the currency gradually.

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

Arab Monetary Fund announces the establishment of a regional entity to settle payments between the 22 countries

The Arab Monetary Fund (AMF) announced on Sunday that its board of directors has approved the establishment of an independent regional entity to settle payments among the 22 member states.

Arab countries have ended plans to set up an independent payment system across the region after high compliance costs and global banks have reduced their activities to undermine existing arrangements.

Correspondent banks currently handle most of the payments and settlements among Arab countries and act as agents for foreign institutions that have no actual presence in a country.

US and European banks’ tightening in recent years has increased the cost of anti-money laundering, while some banks have moved out of the market to focus on more profitable sectors.

The fund did not specify a timing for the new mechanism to start, but Bank officials had earlier expected it to start operating in 2020. The capital of the new entity, backed by Arab banks, would be $ 100 million and owned by the Arab Monetary Fund.

The new entity aims to support the use of local currencies in the settlement process between Arab countries as well as major international currencies.

Article Credit: http://economy-news.net/content.php?id=12029 Special Thanks to Vernell Washington
______________________________________________________________

Some interesting headlines…

Oil is at its highest level since 2014

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

Iraqi oil ministry calls on US companies to increase their presence in Iraq

______________________________________________________________

An Iraqi delegation will visit Kuwait next month to follow up the pledges of the reconstruction conference

The reconstruction fund of the affected areas revealed on Tuesday the visit of an Iraqi delegation to Kuwait early next month to follow up the commitments made at the reconstruction conference of Iraq.

“An Iraqi delegation consisting of the Secretary-General of the Council of Ministers Mahdi Al-Alaq and the Chairman of the Reconstruction Fund and a delegation from the Ministry of Education will visit Kuwait on the fifth of next month to follow up the commitments made by Kuwait on the reconstruction of Iraq,” he said.

Al-Hiti added that ’47 countries made pledges at the Kuwait conference, ‘noting that’ such pledges need to sign agreements and this may take time in such conferences, but it remains. ‘

He added that ‘the Republic of Egypt has expressed its willingness to receive students from the affected areas and also received patients to deal with them and these are all pledges and there is a higher committee to follow up these pledges.’

He pointed out that ‘will be held next Thursday, a meeting in the Rashid Hotel to follow up the investment projects that were presented at the Kuwait conference,’ explaining that ‘a section of companies submitted to Iraq to carry out these projects will be discussed these projects in this forum.’

On February 14, Kuwait hosted a conference for the reconstruction of the affected areas in Iraq. The Kuwaiti Foreign Minister announced at a press conference at the end of the conference about the collection of 30 billion dollars out of the 88 billion dollars Iraq declared its need for reconstruction of liberated areas and other areas in the provinces Other.

Article Credit: ikhnews.com Special Thanks to Tim Tarkington
______________________________________________________________

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!!)

______________________________________________________________

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
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com

Continued decline in the dollar exchange in Iraq

[Ayna-Baghdad] – Foreign currency markets in Baghdad, on Tuesday morning, a decline in the dollar exchange rate against the Iraqi dinar.

The market price on the Kifah Stock Exchange in Baghdad was 1196 dinars per dollar, or 119 thousand and 600 dinars per hundred dollars.

The prices of selling and buying dollars in banking companies were:

The sale price of one dollar 1200 dinars, or 120 thousand dinars, for one hundred dollars.
And the purchase price of the dollar is 1190 dinars, or 119 thousand dinars, for one hundred dollars, and this price is the lowest recorded by the currency markets for years in Iraq.

Foreign Exchange Rates:

EUR World Price: 100 Euro = 122.15 USD The
World Price: 100 Bounds = 139.44 $ The
Turkish Lira The International Price: $ 100 = 409.70 Turkish Lira

Article Credit: Alliraqnews.com Special Thanks to Vernell Washington

BGG ~ There has been a lot of great news out the last few days. This, however, will fly under the radar yet is very, very important. The USD / IQD rate continues to decline. Looking better and better everyday.

______________________________________________________________

Tomorrow will start the week of financial inclusion in Iraq

​
The Association of Iraqi Private Banks announced the launch of the Financial Inclusion Week on Wednesday in all parts of the country, with the aim of increasing the dealings with the banking sector.
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a press statement that “on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy “He said.

He added that “the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with Arab countries,” noting that “Iraq wants to increase the number of customers with the banking sector to a large proportion because it will make citizens enjoy the banking services available to the public of loans Electronic payment and others. ”

He pointed out that “the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others.” He pointed out that “the banks will during the week of financial coverage to open bank accounts and the granting of credit cards and others.”

Article Credit: http://economy-news.net Special Thanks to Charles Bright!!

______________________________________________________________

______________________________________________________________

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

______________________________________________________________

Central Bank of Iraq Auctions $162,405,813 on April 25th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 25 registered $162,405,813 in sales, a -5.05% volume decline from the US $171,046,500 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 24.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 25 compared to the previous auction.

Data for the April 25 auction was made public by CBI Announcement Number 3685.

Dollar sales in the in the period January 1, 2018 to April 19, 2018 saw an increase of -1% compared to the sales of US $10.78 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.

An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.

Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS

BGG ~ We will continue to highlight the regular auctions.

______________________________________________________________

The Central Bank signs a memorandum with Visa International tomorrow

Economy News Baghdad  – The Central Bank of Iraq announced that it will sign a memorandum with Visa International on Wednesday to grant its legal framework within Iraq.
“On Wednesday, the central bank will sign a memorandum of understanding with Visa International that will provide the legal framework for the company in terms of providing services, consultancy and support to the banking and financial sector,” said Central Bank Payments Department Director, Duha Abdel Kareem.

“The presence of Visa International in Baghdad will make a positive change on the economic market,” adding that “the central bank has steps to support competition between international financial companies.”

Article Credit: Economy-news.net Special Thanks to Sherry Miller
______________________________________________________________

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

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

Arab Monetary Fund announces the establishment of a regional entity to settle payments between the 22 countries

The Arab Monetary Fund (AMF) announced on Sunday that its board of directors has approved the establishment of an independent regional entity to settle payments among the 22 member states.

Arab countries have ended plans to set up an independent payment system across the region after high compliance costs and global banks have reduced their activities to undermine existing arrangements.

Correspondent banks currently handle most of the payments and settlements among Arab countries and act as agents for foreign institutions that have no actual presence in a country.

US and European banks’ tightening in recent years has increased the cost of anti-money laundering, while some banks have moved out of the market to focus on more profitable sectors.

The fund did not specify a timing for the new mechanism to start, but Bank officials had earlier expected it to start operating in 2020. The capital of the new entity, backed by Arab banks, would be $ 100 million and owned by the Arab Monetary Fund.

The new entity aims to support the use of local currencies in the settlement process between Arab countries as well as major international currencies.

Article Credit: http://economy-news.net/content.php?id=12029 Special Thanks to Vernell Washington

______________________________________________________________

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

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

An Iraqi delegation will visit Kuwait next month to follow up the pledges of the reconstruction conference

The reconstruction fund of the affected areas revealed on Tuesday the visit of an Iraqi delegation to Kuwait early next month to follow up the commitments made at the reconstruction conference of Iraq.

“An Iraqi delegation consisting of the Secretary-General of the Council of Ministers Mahdi Al-Alaq and the Chairman of the Reconstruction Fund and a delegation from the Ministry of Education will visit Kuwait on the fifth of next month to follow up the commitments made by Kuwait on the reconstruction of Iraq,” he said.

Al-Hiti added that ’47 countries made pledges at the Kuwait conference, ‘noting that’ such pledges need to sign agreements and this may take time in such conferences, but it remains. ‘

He added that ‘the Republic of Egypt has expressed its willingness to receive students from the affected areas and also received patients to deal with them and these are all pledges and there is a higher committee to follow up these pledges.’

He pointed out that ‘will be held next Thursday, a meeting in the Rashid Hotel to follow up the investment projects that were presented at the Kuwait conference,’ explaining that ‘a section of companies submitted to Iraq to carry out these projects will be discussed these projects in this forum.’

On February 14, Kuwait hosted a conference for the reconstruction of the affected areas in Iraq. The Kuwaiti Foreign Minister announced at a press conference at the end of the conference about the collection of 30 billion dollars out of the 88 billion dollars Iraq declared its need for reconstruction of liberated areas and other areas in the provinces Other.

Article Credit: ikhnews.com Special Thanks to Tim Tarkington

______________________________________________________________

Some interesting headlines…

Oil is at its highest level since 2014

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

Iraqi oil ministry calls on US companies to increase their presence in Iraq

______________________________________________________________

Instructions and criteria for circulation and replacement of banknotes

To all banks:

What are the instructions and criteria for circulation and replacement of banknotes and counting and sorting mechanisms
good greeting. // 2015
Later in our book number 133
No. 12 / For the purpose
2
. Date of unification
16 and update the controls
And instructions on the standards of exchange and exchange of banknotes, we send you the link principles, standards and instructions
Which will be used in the counting, sorting, handing over and handing over of banknotes in order to work.
Appreciation
Central Mirrors
Baghdad
Dr.. Munther Abdul Qader Al Sheikli
Deputy Governor Agency
Issuing cabinets
2018/4 /

Pg.(2)……
Public Invitations
– The Iraqi Bank for 2004 56 1 The Central Bank under its law No. is responsible for determining categories of currency
(Paper and metal) and its measurements and forms and printed banknotes and coins, coins
Responsible for the destruction, replacement and identification of defective ones, and may refuse to replace those currencies (paper and metal) or
Confiscate them if the conditions set out in these instructions are met…

Read Full Text: http://www.dinarupdates.com/showthread.php?56698-Instructions-and-criteria-for-circulation-and-replacement-of-banknotes

There is an extraordinary amount of information in this article – just stunning. They are obviously preparing for something. What? No clue… but this key phrase seems to forecast some need for small denominations of notes.

Key Phrase: …”Banks should open windows to replace damaged and damaged banknotes to the public and hand them over to this bank and its branches, And promoting the circulation of small denomination banknotes”…

______________________________________________________________

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!!)

______________________________________________________________

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
______________________________________________________________

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!!

Thanks – BGG!!

www.DinarUpdates.com