Parliamentary integrity reveals cases of corruption worth 70 billion dollars in two files

The Parliamentary Integrity Committee on Wednesday revealed the existence of cases of corruption about 70 billion dollars in the files of the auction of currency and real estate of the state, noting that the current government did not invest the opportunity available to them in the fight against corruption, despite international and domestic support.

“The government has wasted a historic opportunity that may not be repeated to fight corruption and prosecute the corrupt,” said committee member Abdul Karim Abtan. “The government has received popular and legislative support, as well as international and national support.”

Abtan added that “one of the reasons for the government’s delay in accounting for the corrupt is the high bureaucracy in the Integrity Commission and the supervisory and judicial circles.” He pointed out that “there are cases of corruption worth 70 billion dollars in the files of currency auction and state real estate was discovered during the previous period.”

The MP from the Union of Forces Abdul Rahman al-Luizi confirmed in a previous statement to / information / / the government’s intention to open files of administrative corruption in the auction of selling foreign currency from the cash reserve and the investigation of the family of all private banks.

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

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”…

______________________________________________________________

______________________________________________________________

Kaperoni (Dinar Guru) –   …articles surfaced today confirming directly after the elections they plan on opening the banking system.

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

______________________________________________________________

Central Bank of Iraq Auctions $185,400,055 on April 19th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 19 registered $185,400,055 in sales, a 52.23% volume increase from the US $121,787,000 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 18.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 19 compared to the previous auction.

Data for the April 19 auction was made public by CBI Announcement Number 3681.

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.

______________________________________________________________

Maliki has no chance to win elections in Karbala – Observers

Observers to the electoral campaigns in Karbala governorate affirmed Wednesday that State of Law coalition, headed by Vice President Nouri al-Maliki has almost a no chance in winning the upcoming election.

Competition in Karbala is between Victory coalition, headed by PM Haidar al-Abadi, al-Wataniya coalition headed by Ayad Allawi, Wisdom Movement headed by Ammar al-Hakim and al-Fatah by Hadi al-Ameri, the observers affirmed.

“Maliki’s coalition has no place in the race to the parliament, for his unpopularity in Karbala, unlike the election of 2010 where the coalition obtained 200k votes, which allowed it to win 7 seats out of 11,” observers said.

Iraq is anticipating a parliamentary election on May 12.

Article Credit: www.thebaghdadpost.com (Special Thanks to Charles Bright)

______________________________________________________________

Kaperoni (Dinar Guru) –  The upcoming elections in Iraq could play a critical part in whether monetary reform occurs sooner than later.  Today rumors of al-Maliki supporters tearing down opposition posters. Some say Maliki is paying 50 million dinar to vote for his block.  Monetary reform/currency reform is a must for Iraq to engage with the world economy, more importantly bring investors to Iraq. But can Iraq overcome the opposition?

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

Mnt Goat (Dinar Guru) –   “ADOPTION OF THE LAW OF OIL AND GAS CONTRIBUTE TO ENDING THE ETERNAL DISPUTE BETWEEN BAGHDAD AND ERBIL”   so here it is in writing – HCL is done!Also I have been telling everyone the contention between the GOI and KRG and that is was all about getting a formal, legal law passed in parliament for how the oil and gas (95% of the wealth of Iraq) is to be managed.

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

CBI sets the terms of the negotiable banknotes

Alsumaria News / Baghdad – The Central Bank of Iraq, on Tuesday, the terms of the banknotes are negotiable.

The bank said in a statement received by Alsumaria News, a copy of it that “the banknote is valid for trading even if exposed to what comes if there was a tear or more than no more than 3 cm and was repaired with a transparent adhesive tape from one side or both sides did not affect the features” .

The bank added that “one of the other conditions that the banknote is valid for trading if it was cut in one of its corners up to 2 cm and did not affect the features,” noting that “of the other conditions if the effects of trading and use and did not harm or harm affects the shape, color and size “He said.

The Central determines the terms of the non-negotiable banknotes

The Central Bank obliges banks to provide five hours for their applications to buy currency
Many of the banknotes that many citizens refuse to trade are traded in local markets.

Article Credit: www.alsumaria.tv (Special Thanks to Carol Williamson)

______________________________________________________________

MilitiaMan (Dinar Guru) –  Notice the theme of late is about instructions… As in this is how you pay people with allocations of  %’s and we/they (CBI) showed everyone how to collect old money and replace with new notes that will be circulating, the new system of electronic payments, etc.. Oh the new deal between us (Bagdad) and them (Erbil) in regard to the Oil and Gas…

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

Kaperoni (Dinar Guru) –    Well when i started 10 years about I thought rv too!   …there is a reason they cant…The CBI…said they would join the world currency exchange…How without a float…the CBI will have to get off the peg…and float.  …the value is 1184 that is what it will start at…They will move to a float prior to opening the CBI Capital Account…In doing so, the CBI can raise the value as inflationary pressure is created from investment…we know they must float because global investment will cause inflation in Iraq and Iraq must have a plan to counter that…could it rise fast? sure…how fast? no idea.   As the dinar appreciates in value the CBI will introduce smaller notes as needed. Same for the larger notes, they will disappear.   …From the CBI… “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.”

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

The Parliamentary Decree: The passing of this law ends the eternal dispute between Baghdad and Erbil

Information / Baghdad .. The head of the parliamentary legal committee Mohsen al-Saadoun said on Saturday that the adoption of the law of oil and gas contribute to ending the eternal dispute between Baghdad and Erbil, referring to the parliament received more than five drafts of the law during the previous two sessions.

“The approval of the oil and gas law contributes to ending the eternal dispute between Baghdad and Erbil and determines the responsibility of each party to manage natural resources,” Al-Saadoun said in a statement to Al-Mawdhara. “The oil and gas committee received more than five different drafts of the oil and gas law during the previous two sessions, .

He added that “the House of Representatives failed to explain Article 112 and 111 of the Constitution, which caused the disruption of the passage of the law, despite its importance,” ruling out “finding a final version because of differences solutions to the eligibility of the parties to the conflict.”

“The disruption of the law of oil and gas caused a major crisis between Baghdad and Erbil has reached the threat of wars between them, while the adoption of the law will ensure the legal and constitutional right to each party, whether the province or province.” Ending / 25

Article Credit: www.almaalomah.com (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

______________________________________________________________

The Central Bank goes beyond the red lines

«Economy News» More than a month ago, the seeds of reform in monetary policy began to bear fruit and the cash market began to feel the results of the sound monetary policy applications adopted by the bank two years ago. These successes appeared in monetary stability, recovery of the Iraqi dinar and its appreciation against the dollar exchange rate. Due to Iraq’s unstable political, economic and security conditions.

Surprisingly, however, the appreciation of the Iraqi dinar continued despite electoral rivalries, US threats to Syria, a turbulent regional situation and the impact of Turkish and Iranian currencies. And the decrease in value compared to the Iraqi dinar and thus exceeded the red lines, and that the target set by the Central Bank is to reach the exchange rate of 1200 dinars per dollar has already been achieved, which will be reflected on the decline in demand for the dollar in the window selling the currency and the parallel market in addition to the rise in oil prices, Revenue reduces the deficit in”This confirms that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the application of monetary policy,” mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations and rules and standards and re-evaluation And the classification of banks in the light of the extent of their compliance with the compliance regulations and identify the last beneficiary in the window selling foreign currency and the work of new mechanisms in the pre-emptive control internally and externally led to higher value and purchasing power of the Iraqi dinar, Emerged as the reasons for the recovery of the Iraqi dinar is the plan and procedures for the central bank and cooperation with the banking sector and comply with the instructions and standards issued by the Central Bank.This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, “mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards, The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank.

This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, “mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards, The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank.

Article Credit: economy-news.net (Special Thanks to Vernell Washington)

______________________________________________________________

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

Parliamentary integrity reveals cases of corruption worth 70 billion dollars in two files

The Parliamentary Integrity Committee on Wednesday revealed the existence of cases of corruption about 70 billion dollars in the files of the auction of currency and real estate of the state, noting that the current government did not invest the opportunity available to them in the fight against corruption, despite international and domestic support.

“The government has wasted a historic opportunity that may not be repeated to fight corruption and prosecute the corrupt,” said committee member Abdul Karim Abtan. “The government has received popular and legislative support, as well as international and national support.”

Abtan added that “one of the reasons for the government’s delay in accounting for the corrupt is the high bureaucracy in the Integrity Commission and the supervisory and judicial circles.” He pointed out that “there are cases of corruption worth 70 billion dollars in the files of currency auction and state real estate was discovered during the previous period.”

The MP from the Union of Forces Abdul Rahman al-Luizi confirmed in a previous statement to / information / / the government’s intention to open files of administrative corruption in the auction of selling foreign currency from the cash reserve and the investigation of the family of all private banks.

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

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”…

______________________________________________________________

______________________________________________________________

Kaperoni (Dinar Guru) –   …articles surfaced today confirming directly after the elections they plan on opening the banking system.

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

______________________________________________________________

Central Bank of Iraq Auctions $185,400,055 on April 19th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 19 registered $185,400,055 in sales, a 52.23% volume increase from the US $121,787,000 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 18.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 19 compared to the previous auction.

Data for the April 19 auction was made public by CBI Announcement Number 3681.

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.

______________________________________________________________

Maliki has no chance to win elections in Karbala – Observers

Observers to the electoral campaigns in Karbala governorate affirmed Wednesday that State of Law coalition, headed by Vice President Nouri al-Maliki has almost a no chance in winning the upcoming election.

Competition in Karbala is between Victory coalition, headed by PM Haidar al-Abadi, al-Wataniya coalition headed by Ayad Allawi, Wisdom Movement headed by Ammar al-Hakim and al-Fatah by Hadi al-Ameri, the observers affirmed.

“Maliki’s coalition has no place in the race to the parliament, for his unpopularity in Karbala, unlike the election of 2010 where the coalition obtained 200k votes, which allowed it to win 7 seats out of 11,” observers said.

Iraq is anticipating a parliamentary election on May 12.

Article Credit: www.thebaghdadpost.com (Special Thanks to Charles Bright)

______________________________________________________________

Kaperoni (Dinar Guru) –  The upcoming elections in Iraq could play a critical part in whether monetary reform occurs sooner than later.  Today rumors of al-Maliki supporters tearing down opposition posters. Some say Maliki is paying 50 million dinar to vote for his block.  Monetary reform/currency reform is a must for Iraq to engage with the world economy, more importantly bring investors to Iraq. But can Iraq overcome the opposition?

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

Mnt Goat (Dinar Guru) –   “ADOPTION OF THE LAW OF OIL AND GAS CONTRIBUTE TO ENDING THE ETERNAL DISPUTE BETWEEN BAGHDAD AND ERBIL”   so here it is in writing – HCL is done!Also I have been telling everyone the contention between the GOI and KRG and that is was all about getting a formal, legal law passed in parliament for how the oil and gas (95% of the wealth of Iraq) is to be managed.

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

CBI sets the terms of the negotiable banknotes

Alsumaria News / Baghdad – The Central Bank of Iraq, on Tuesday, the terms of the banknotes are negotiable.

The bank said in a statement received by Alsumaria News, a copy of it that “the banknote is valid for trading even if exposed to what comes if there was a tear or more than no more than 3 cm and was repaired with a transparent adhesive tape from one side or both sides did not affect the features” .

The bank added that “one of the other conditions that the banknote is valid for trading if it was cut in one of its corners up to 2 cm and did not affect the features,” noting that “of the other conditions if the effects of trading and use and did not harm or harm affects the shape, color and size “He said.

The Central determines the terms of the non-negotiable banknotes

The Central Bank obliges banks to provide five hours for their applications to buy currency
Many of the banknotes that many citizens refuse to trade are traded in local markets.

Article Credit: www.alsumaria.tv (Special Thanks to Carol Williamson)

______________________________________________________________

MilitiaMan (Dinar Guru) –  Notice the theme of late is about instructions… As in this is how you pay people with allocations of  %’s and we/they (CBI) showed everyone how to collect old money and replace with new notes that will be circulating, the new system of electronic payments, etc.. Oh the new deal between us (Bagdad) and them (Erbil) in regard to the Oil and Gas…

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

Kaperoni (Dinar Guru) –    Well when i started 10 years about I thought rv too!   …there is a reason they cant…The CBI…said they would join the world currency exchange…How without a float…the CBI will have to get off the peg…and float.  …the value is 1184 that is what it will start at…They will move to a float prior to opening the CBI Capital Account…In doing so, the CBI can raise the value as inflationary pressure is created from investment…we know they must float because global investment will cause inflation in Iraq and Iraq must have a plan to counter that…could it rise fast? sure…how fast? no idea.   As the dinar appreciates in value the CBI will introduce smaller notes as needed. Same for the larger notes, they will disappear.   …From the CBI… “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.”

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

The Parliamentary Decree: The passing of this law ends the eternal dispute between Baghdad and Erbil

Information / Baghdad .. The head of the parliamentary legal committee Mohsen al-Saadoun said on Saturday that the adoption of the law of oil and gas contribute to ending the eternal dispute between Baghdad and Erbil, referring to the parliament received more than five drafts of the law during the previous two sessions.

“The approval of the oil and gas law contributes to ending the eternal dispute between Baghdad and Erbil and determines the responsibility of each party to manage natural resources,” Al-Saadoun said in a statement to Al-Mawdhara. “The oil and gas committee received more than five different drafts of the oil and gas law during the previous two sessions, .

He added that “the House of Representatives failed to explain Article 112 and 111 of the Constitution, which caused the disruption of the passage of the law, despite its importance,” ruling out “finding a final version because of differences solutions to the eligibility of the parties to the conflict.”

“The disruption of the law of oil and gas caused a major crisis between Baghdad and Erbil has reached the threat of wars between them, while the adoption of the law will ensure the legal and constitutional right to each party, whether the province or province.” Ending / 25

Article Credit: www.almaalomah.com (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

______________________________________________________________

The Central Bank goes beyond the red lines

«Economy News» More than a month ago, the seeds of reform in monetary policy began to bear fruit and the cash market began to feel the results of the sound monetary policy applications adopted by the bank two years ago. These successes appeared in monetary stability, recovery of the Iraqi dinar and its appreciation against the dollar exchange rate. Due to Iraq’s unstable political, economic and security conditions.

Surprisingly, however, the appreciation of the Iraqi dinar continued despite electoral rivalries, US threats to Syria, a turbulent regional situation and the impact of Turkish and Iranian currencies. And the decrease in value compared to the Iraqi dinar and thus exceeded the red lines, and that the target set by the Central Bank is to reach the exchange rate of 1200 dinars per dollar has already been achieved, which will be reflected on the decline in demand for the dollar in the window selling the currency and the parallel market in addition to the rise in oil prices, Revenue reduces the deficit in”This confirms that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the application of monetary policy,” mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations and rules and standards and re-evaluation And the classification of banks in the light of the extent of their compliance with the compliance regulations and identify the last beneficiary in the window selling foreign currency and the work of new mechanisms in the pre-emptive control internally and externally led to higher value and purchasing power of the Iraqi dinar, Emerged as the reasons for the recovery of the Iraqi dinar is the plan and procedures for the central bank and cooperation with the banking sector and comply with the instructions and standards issued by the Central Bank.This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, “mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards, The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank.

This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, “mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards, The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank.

Article Credit: economy-news.net (Special Thanks to Vernell Washington)

______________________________________________________________

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

Abadi’s policy to open files of corruption “serious” “regardless of date”

Twilight News – Shivak News / Prime Minister Haider al-Abadi on Wednesday chaired the meeting of the Supreme Council for Combating Corruption.

At the beginning of the meeting, Abadi stressed the need to pay attention to the investigative evidence in the files of corruption, reflecting the accuracy in following up the issues and the prosecution of all files of corruption, regardless of the date of receipt.

The council discussed “serious” corruption cases that have been investigated and referred to the judiciary, and those responsible have been prosecuted.

Abadi stressed the importance of drafting a general framework for the management of inspection work in Iraq to ensure the performance of the offices inspectors inspectors their role legally defined in ministries, governorates and other bodies.

The Council discussed its agenda and adopted a set of resolutions. It also reviewed the work of the National Committee of Experts to follow up the files that were reviewed and submitted to the judicial bodies.

Abadi stressed the importance of following up all issues related to corruption and reporting on them and focusing on the major corruption crimes that led to the theft of public money.

Article Credit: shafaaq.com (Special Thanks to Charles Bright)
______________________________________________________________

Judiciary fears holding the “Barzani and Talabani” (families) accountable for stealing budgets of the region

The mass change parliamentary, that the judiciary is unable to hold the family of “Barzani and Talabani” or to take a decision against them, for stealing the budgets of the province being afraid.

This was announced by MP for the change bloc Piston super, in a press statement, on Wednesday, pointing to the existence of bank accounts and large amounts in European banks in the name of my family Barzani and Talabani stolen from the budgets of the region, indicating that the projects of the families and their companies filled Europe.

“The huge money allocated to the Kurdistan region from the previous budgets and the money that was derived from the export of oil without the knowledge of Baghdad went to the accounts of my family Barzani and Talabani.”

“There are accounts opened on behalf of the two families in European banks and deposited billions of dollars in money from the Kurdish people,” he said.

He explained that “my family Barzani and Talabani have giant companies and large projects of the funds of Kurdistan Vtohaha in Europe and other neighboring countries and the region.”

Article Credit: knoozmedia.com (Special Thanks to Paul Moseley)

______________________________________________________________

______________________________________________________________

Kaperoni (Dinar Guru) –    Well when i started 10 years about I thought rv too!   …there is a reason they cant…The CBI…said they would join the world currency exchange…How without a float…the CBI will have to get off the peg…and float.  …the value is 1184 that is what it will start at…They will move to a float prior to opening the CBI Capital Account…In doing so, the CBI can raise the value as inflationary pressure is created from investment…we know they must float because global investment will cause inflation in Iraq and Iraq must have a plan to counter that…could it rise fast? sure…how fast? no idea.   As the dinar appreciates in value the CBI will introduce smaller notes as needed. Same for the larger notes, they will disappear.   …From the CBI… “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.”

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

______________________________________________________________

Central Bank of Iraq Auctions $185,896,400 on April 11th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 11 registered $185,896,400 in sales, a 11.29% volume increase from the US $167,042,900 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 10.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 11 compared to the previous auction.

Data for the April 11 auction was made public by CBI Announcement Number 3676.

Dollar sales in the in the period January 1, 2018 to April 11, 2018 saw an increase of -1% compared to the sales of US $9.92 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.

______________________________________________________________

Top Iraqi court set to rule on Kurdistan’s oil exports

Iraq’s top court will begin hearings in May on the legality of oil exports from Kurdistan, which are at the center of a row between the Kurdistan Region Government and Baghdad’s Federal Government, Reuters reported on Tuesday.

The oil dispute is the main hurdle to normalising relations between the Federal Government and the KRG of northern Iraq which conducted a referendum on independence despite Baghdad’s opposition.

The Supreme Federal Court said in a statement it has asked to hear the opinions of officials including the Federal government’s Prime Minister Haider al-Abadi, Oil Minister Jabbar al-Luaibi and Finance Minister, in addition to the KRG’s prime minister, on May 6.

Iraqi oil minister Jabar al-Luaibi had asked the court to issue a ruling that bans independent oil exports from the KRG, which started in 2014, through a pipeline across Turkey.

The KRG says the Iraqi Constitution recognises the legality of its existence and contains no article specifically forbidding it from developing oil resources on its territory.

International energy firms including Exxon Mobil, DNO, Dana Gas, Rosneft and Genel are among companies with agreements with the KRG to operate in the Kurdistan region.

Article Credit: www.thebaghdadpost.com (Special Thanks to Charles Bright)
______________________________________________________________

Kaperoni (Dinar Guru) –  The recent article from the WTO is motivational for Iraq but until they have exports and reduce dependence on oil they will not get full of accession.

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

Kaperoni (Dinar Guru) –  I went back a few weeks and recorded the spread based on the articles so we could get some sort of beginning timeline for the 2% compliance. This is what I found…2/28    1220,  3/10    1215, 3/14    1215, 3/14   1210, 3/15   1207, 3/15   1213, 3/18   1210, 3/18   1213, 3/20   1207.  So to me, it looks like the CBI meet compliance around March 15.

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

Maliki has $ 3 billion in his account in Central Bank

A document circulating on social media indicates that the former Iraqi premier Nouri Al-Maliki has assets up to $ 3 billion.

The document was issued by the legal affairs department in the Central Bank.

Maliki is proved to be involved in several crimes, including Camp Speicher. He also was behind Mosul’s fall into the hands of ISIS terror group.

He has close ties to Iran. And he is one of those working for it to implement its schemes in Iraq.

Article Credit: www.thebaghdadpost.com (Special Thanks to Rey Medina)

BGG ~ Sounds like it’s about time to actually implement their “Where did you get this? Policy”… starting with Maliki.

Which – BTW, doesn’t sound good for him if they are publishing news and articles about his ill-gotten gains and ties to foreign actors right before the elections – and in the middle of the GOI actively hunting around for funds.

Not good at all (for him).

______________________________________________________________

Randy Koonce (Dinar Guru) – A quick update to all the citizens of Dinarland. This has been the ride of a lifetime, and certainly one none of us ever imagined. One of these days, they will actually quit moving the goal posts, and the ‘dinarball’ will actually make it to the other side, right down the middle.  It looks like things are lining up – again. We have heard from several pretty reliable sources that another window has opened for Iraq to revalue their currency. This window should remain open from now, until the the 20th of April. As always, remember: This is Iraq. It is our sincerest hope that nothing new will come up – this time.

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

Randy Koonce (Dinar Guru) –   I want you to know that while this should have happened several years ago, the Dinar revaluation has been turned into a major political football. Everyone has wanted to use it to their own advantage, whether national or individual. There have been many events that should never have affected this event, but the influence has been there. While I am not at liberty to disclose the identity of my sources, I can assure you: they are people who do know what is going on, and have access to the influences that will be able to see this finished. I cannot and will not guarantee this will be done by April 20 – but there is good shot at it happening this time.   …We are close.. Every large bank will exchange… RELAX the RV is coming…Breathe…Check www.cbi.iq every day to see if it has changed…

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

Calls for banking sector governance to stop the corruption of the currency auction

The economic expert, Salam Samisem, called for banking sector governance to stop the corruption of the currency auction and stabilize the Iraqi dinar.

“The importance of the currency auction stems from the fact that it is an auction for the exchange of foreign currency to cover large expenses to support Iraq’s foreign trade, and on the other hand to help in the partial withdrawal of the local currency from the markets to help maintain specific levels of inflation, Selling the dollar to the owners of commercial transactions and banks at legal prices, but the entry of the political line on the banks make business deals with a lot of suspicions of corruption.

Samisem stressed that without a real governance of the banking sector can not stop the corruption of the auction of currency, because without it are not processing the banks in dollars mainly, especially as the currency offer is a major base to provide stability for the Iraqi currency.

The Central Bank of Iraq had earlier announced its decision to deprive three private banks and 99 banking companies from entering the window selling the currency, for violating the laws and regulations on the purchase and sale of foreign currency.

Several documents revealed the biggest corruption outlets, of which $ 312 billion were leaked through central bank auctions to sell the currency through fake bills.

Artilcle Credit: www.thebaghdadpost.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

______________________________________________________________

Central Bank: We have succeeded in ending the exchange rate gap

Economy News Baghdad: The head of the central bank’s financial operations, Mahmoud Dagher, said Saturday that the central bank’s three-pronged strategy has contributed to the reform and development of the banking sector.

Dagher said during a seminar held on the ground of the Baghdad International Fair entitled “Challenges of the banking sector and the reform strategy” and attended by “Economy News”, “The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system.

He stressed that “these axes constitute the basis of the strategy of the Central Bank to develop the banking system.”

During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks.

The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment.

“Any country with high political risk will prevent the foreign investor from coming to it,” Toman said. “We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact.”

And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector.

He pointed out that “Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation,” adding that “Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports” .

In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that “the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general.”

He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure.

He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries.

Article Credit: economy-news.net (Special Thanks to Vernell)

BGG ~ This article has been out for a bit…

There has been all kinds of commentary on it. What does it mean? Will it float? Are they in compliance with the IMF’s directives?

Many interesting points, but I think everyone is missing the big picture here. What are these miracle steps the CBI has taken to close the gap between the “Market rate” and “Official rate”? Bottom line? Nothing really… They wrote a few memos and changed how they are doing things a little. Other than making threats to deal with their endemic corruption… nothing really.

So what is it? Short story – they want to. For a very long time the IMF, UN, WB and others have had these guidelines in place.

However, Iraq and her corruption politicians have thumbed their noses at the world systems and continued robbing their own people blind… right up to the point of nearly setting the whole Middle East on fire for the nothing more important than a slight political edge in the then upcoming elections.

On the other hand, the IMF, UN, WB and others have been content to shrug their shoulders and leave Iraq at the same value and in the same (financial) condition she has been in for decades. If they don’t want to play ball – no reason to let them back in until they can show some financial accountability.

All of this begs the question – “What does the IMF, UN and WB have to do with the value of Iraq’s currency”? Iraq can declare whatever number they dream up, much like Saddam did. If no one will accept it, buys it or agrees to hold it – what does it matter what the number is?

Fast forward to today… we watch this AMAZING closing of the “Market rate” and “Official rate” gap in Iraq… It hasn’t EVER happened. Why now?

First, who is this announcement by the CBI for? Does this affect the everyday people in Iraq? If it did, it would be to the tune of few dinars per transaction… so no, it doesn’t affect them much. Then who is the CBI talking to? I see this as a public declaration by the GOI and CBI to the IMF and others they intend to play ball.

Secondly, they have to do this before they will be fully accepted by the world exchange markets. It appears they intend to get there quickly.

Why? The answer to this whole commentary is simple… BECAUSE THEY WANT TO. They simply lacked the right level of desire before. It seems like they have it now.

Going back to what are they doing to affect this change? Dealing with their corruption. That’s it.

Do I care what they do or how they do it? I do not. The end result will be the same. I am happy we are seeing real results. Carry on.

______________________________________________________________

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

Abadi’s policy to open files of corruption “serious” “regardless of date”

Twilight News – Shivak News / Prime Minister Haider al-Abadi on Wednesday chaired the meeting of the Supreme Council for Combating Corruption.

At the beginning of the meeting, Abadi stressed the need to pay attention to the investigative evidence in the files of corruption, reflecting the accuracy in following up the issues and the prosecution of all files of corruption, regardless of the date of receipt.

The council discussed “serious” corruption cases that have been investigated and referred to the judiciary, and those responsible have been prosecuted.

Abadi stressed the importance of drafting a general framework for the management of inspection work in Iraq to ensure the performance of the offices inspectors inspectors their role legally defined in ministries, governorates and other bodies.

The Council discussed its agenda and adopted a set of resolutions. It also reviewed the work of the National Committee of Experts to follow up the files that were reviewed and submitted to the judicial bodies.

Abadi stressed the importance of following up all issues related to corruption and reporting on them and focusing on the major corruption crimes that led to the theft of public money.

Article Credit: shafaaq.com (Special Thanks to Charles Bright)
______________________________________________________________

Judiciary fears holding the “Barzani and Talabani” (families) accountable for stealing budgets of the region

The mass change parliamentary, that the judiciary is unable to hold the family of “Barzani and Talabani” or to take a decision against them, for stealing the budgets of the province being afraid.

This was announced by MP for the change bloc Piston super, in a press statement, on Wednesday, pointing to the existence of bank accounts and large amounts in European banks in the name of my family Barzani and Talabani stolen from the budgets of the region, indicating that the projects of the families and their companies filled Europe.

“The huge money allocated to the Kurdistan region from the previous budgets and the money that was derived from the export of oil without the knowledge of Baghdad went to the accounts of my family Barzani and Talabani.”

“There are accounts opened on behalf of the two families in European banks and deposited billions of dollars in money from the Kurdish people,” he said.

He explained that “my family Barzani and Talabani have giant companies and large projects of the funds of Kurdistan Vtohaha in Europe and other neighboring countries and the region.”

Article Credit: knoozmedia.com (Special Thanks to Paul Moseley)

______________________________________________________________

______________________________________________________________

Kaperoni (Dinar Guru) –    Well when i started 10 years about I thought rv too!   …there is a reason they cant…The CBI…said they would join the world currency exchange…How without a float…the CBI will have to get off the peg…and float.  …the value is 1184 that is what it will start at…They will move to a float prior to opening the CBI Capital Account…In doing so, the CBI can raise the value as inflationary pressure is created from investment…we know they must float because global investment will cause inflation in Iraq and Iraq must have a plan to counter that…could it rise fast? sure…how fast? no idea.   As the dinar appreciates in value the CBI will introduce smaller notes as needed. Same for the larger notes, they will disappear.   …From the CBI… “A source at the Central Bank of Iraq for four companies currently competing to win a draft print the new Iraqi dinar, which will generate graceful after deleting three zeros from him, while Samay central bank to raise the value of the dinar against the dollar gradually down to the day to start replacement where the value will be in the absence of a fluctuating one Iraqi dinars equivalent to U.S. dollars one.”

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

______________________________________________________________

Central Bank of Iraq Auctions $185,896,400 on April 11th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 11 registered $185,896,400 in sales, a 11.29% volume increase from the US $167,042,900 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 10.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 11 compared to the previous auction.

Data for the April 11 auction was made public by CBI Announcement Number 3676.

Dollar sales in the in the period January 1, 2018 to April 11, 2018 saw an increase of -1% compared to the sales of US $9.92 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.

______________________________________________________________

Top Iraqi court set to rule on Kurdistan’s oil exports

Iraq’s top court will begin hearings in May on the legality of oil exports from Kurdistan, which are at the center of a row between the Kurdistan Region Government and Baghdad’s Federal Government, Reuters reported on Tuesday.

The oil dispute is the main hurdle to normalising relations between the Federal Government and the KRG of northern Iraq which conducted a referendum on independence despite Baghdad’s opposition.

The Supreme Federal Court said in a statement it has asked to hear the opinions of officials including the Federal government’s Prime Minister Haider al-Abadi, Oil Minister Jabbar al-Luaibi and Finance Minister, in addition to the KRG’s prime minister, on May 6.

Iraqi oil minister Jabar al-Luaibi had asked the court to issue a ruling that bans independent oil exports from the KRG, which started in 2014, through a pipeline across Turkey.

The KRG says the Iraqi Constitution recognises the legality of its existence and contains no article specifically forbidding it from developing oil resources on its territory.

International energy firms including Exxon Mobil, DNO, Dana Gas, Rosneft and Genel are among companies with agreements with the KRG to operate in the Kurdistan region.

Article Credit: www.thebaghdadpost.com (Special Thanks to Charles Bright)
______________________________________________________________

Kaperoni (Dinar Guru) –  The recent article from the WTO is motivational for Iraq but until they have exports and reduce dependence on oil they will not get full of accession.

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

Kaperoni (Dinar Guru) –  I went back a few weeks and recorded the spread based on the articles so we could get some sort of beginning timeline for the 2% compliance. This is what I found…2/28    1220,  3/10    1215, 3/14    1215, 3/14   1210, 3/15   1207, 3/15   1213, 3/18   1210, 3/18   1213, 3/20   1207.  So to me, it looks like the CBI meet compliance around March 15.

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

Maliki has $ 3 billion in his account in Central Bank

A document circulating on social media indicates that the former Iraqi premier Nouri Al-Maliki has assets up to $ 3 billion.

The document was issued by the legal affairs department in the Central Bank.

Maliki is proved to be involved in several crimes, including Camp Speicher. He also was behind Mosul’s fall into the hands of ISIS terror group.

He has close ties to Iran. And he is one of those working for it to implement its schemes in Iraq.

Article Credit: www.thebaghdadpost.com (Special Thanks to Rey Medina)

BGG ~ Sounds like it’s about time to actually implement their “Where did you get this? Policy”… starting with Maliki.

Which – BTW, doesn’t sound good for him if they are publishing news and articles about his ill-gotten gains and ties to foreign actors right before the elections – and in the middle of the GOI actively hunting around for funds.

Not good at all (for him).

______________________________________________________________

Randy Koonce (Dinar Guru) – A quick update to all the citizens of Dinarland. This has been the ride of a lifetime, and certainly one none of us ever imagined. One of these days, they will actually quit moving the goal posts, and the ‘dinarball’ will actually make it to the other side, right down the middle.  It looks like things are lining up – again. We have heard from several pretty reliable sources that another window has opened for Iraq to revalue their currency. This window should remain open from now, until the the 20th of April. As always, remember: This is Iraq. It is our sincerest hope that nothing new will come up – this time.

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

Randy Koonce (Dinar Guru) –   I want you to know that while this should have happened several years ago, the Dinar revaluation has been turned into a major political football. Everyone has wanted to use it to their own advantage, whether national or individual. There have been many events that should never have affected this event, but the influence has been there. While I am not at liberty to disclose the identity of my sources, I can assure you: they are people who do know what is going on, and have access to the influences that will be able to see this finished. I cannot and will not guarantee this will be done by April 20 – but there is good shot at it happening this time.   …We are close.. Every large bank will exchange… RELAX the RV is coming…Breathe…Check www.cbi.iq every day to see if it has changed…

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

Calls for banking sector governance to stop the corruption of the currency auction

The economic expert, Salam Samisem, called for banking sector governance to stop the corruption of the currency auction and stabilize the Iraqi dinar.

“The importance of the currency auction stems from the fact that it is an auction for the exchange of foreign currency to cover large expenses to support Iraq’s foreign trade, and on the other hand to help in the partial withdrawal of the local currency from the markets to help maintain specific levels of inflation, Selling the dollar to the owners of commercial transactions and banks at legal prices, but the entry of the political line on the banks make business deals with a lot of suspicions of corruption.

Samisem stressed that without a real governance of the banking sector can not stop the corruption of the auction of currency, because without it are not processing the banks in dollars mainly, especially as the currency offer is a major base to provide stability for the Iraqi currency.

The Central Bank of Iraq had earlier announced its decision to deprive three private banks and 99 banking companies from entering the window selling the currency, for violating the laws and regulations on the purchase and sale of foreign currency.

Several documents revealed the biggest corruption outlets, of which $ 312 billion were leaked through central bank auctions to sell the currency through fake bills.

Artilcle Credit: www.thebaghdadpost.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

______________________________________________________________

Central Bank: We have succeeded in ending the exchange rate gap

Economy News Baghdad: The head of the central bank’s financial operations, Mahmoud Dagher, said Saturday that the central bank’s three-pronged strategy has contributed to the reform and development of the banking sector.

Dagher said during a seminar held on the ground of the Baghdad International Fair entitled “Challenges of the banking sector and the reform strategy” and attended by “Economy News”, “The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system.

He stressed that “these axes constitute the basis of the strategy of the Central Bank to develop the banking system.”

During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks.

The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment.

“Any country with high political risk will prevent the foreign investor from coming to it,” Toman said. “We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact.”

And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector.

He pointed out that “Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation,” adding that “Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports” .

In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that “the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general.”

He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure.

He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries.

Article Credit: economy-news.net (Special Thanks to Vernell)

BGG ~ This article has been out for a bit…

There has been all kinds of commentary on it. What does it mean? Will it float? Are they in compliance with the IMF’s directives?

Many interesting points, but I think everyone is missing the big picture here. What are these miracle steps the CBI has taken to close the gap between the “Market rate” and “Official rate”? Bottom line? Nothing really… They wrote a few memos and changed how they are doing things a little. Other than making threats to deal with their endemic corruption… nothing really.

So what is it? Short story – they want to. For a very long time the IMF, UN, WB and others have had these guidelines in place.

However, Iraq and her corruption politicians have thumbed their noses at the world systems and continued robbing their own people blind… right up to the point of nearly setting the whole Middle East on fire for the nothing more important than a slight political edge in the then upcoming elections.

On the other hand, the IMF, UN, WB and others have been content to shrug their shoulders and leave Iraq at the same value and in the same (financial) condition she has been in for decades. If they don’t want to play ball – no reason to let them back in until they can show some financial accountability.

All of this begs the question – “What does the IMF, UN and WB have to do with the value of Iraq’s currency”? Iraq can declare whatever number they dream up, much like Saddam did. If no one will accept it, buys it or agrees to hold it – what does it matter what the number is?

Fast forward to today… we watch this AMAZING closing of the “Market rate” and “Official rate” gap in Iraq… It hasn’t EVER happened. Why now?

First, who is this announcement by the CBI for? Does this affect the everyday people in Iraq? If it did, it would be to the tune of few dinars per transaction… so no, it doesn’t affect them much. Then who is the CBI talking to? I see this as a public declaration by the GOI and CBI to the IMF and others they intend to play ball.

Secondly, they have to do this before they will be fully accepted by the world exchange markets. It appears they intend to get there quickly.

Why? The answer to this whole commentary is simple… BECAUSE THEY WANT TO. They simply lacked the right level of desire before. It seems like they have it now.

Going back to what are they doing to affect this change? Dealing with their corruption. That’s it.

Do I care what they do or how they do it? I do not. The end result will be the same. I am happy we are seeing real results. Carry on.

______________________________________________________________

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: We have succeeded in ending the exchange rate gap

Economy News Baghdad: The head of the central bank’s financial operations, Mahmoud Dagher, said Saturday that the central bank’s three-pronged strategy has contributed to the reform and development of the banking sector.

Dagher said during a seminar held on the ground of the Baghdad International Fair entitled “Challenges of the banking sector and the reform strategy” and attended by “Economy News”, “The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system.

He stressed that “these axes constitute the basis of the strategy of the Central Bank to develop the banking system.”

During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks.

The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment.

“Any country with high political risk will prevent the foreign investor from coming to it,” Toman said. “We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact.”

And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector.

He pointed out that “Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation,” adding that “Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports” .

In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that “the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general.”

He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure.

He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries.

Article Credit: economy-news.net (Special Thanks to Vernell)

BGG ~ This article has been out for a bit…

There has been all kinds of commentary on it. What does it mean? Will it float? Are they in compliance with the IMF’s directives?

Many interesting points, but I think everyone is missing the big picture here. What are these miracle steps the CBI has taken to close the gap between the “Market rate” and “Official rate”? Bottom line? Nothing really… They wrote a few memos and changed how they are doing things a little. Other than making threats to deal with their endemic corruption… nothing really.

So what is it? Short story – they want to. For a very long time the IMF, UN, WB and others have had these guidelines in place.

However, Iraq and her corruption politicians have thumbed their noses at the world systems and continued robbing their own people blind… right up to the point of nearly setting the whole Middle East on fire for the nothing more important than a slight political edge in the then upcoming elections.

On the other hand, the IMF, UN, WB and others have been content to shrug their shoulders and leave Iraq at the same value and in the same (financial) condition she has been in for decades. If they don’t want to play ball – no reason to let them back in until they can show some financial accountability.

All of this begs the question – “What does the IMF, UN and WB have to do with the value of Iraq’s currency”? Iraq can declare whatever number they dream up, much like Saddam did. If no one will accept it, buys it or agrees to hold it – what does it matter what the number is?

Fast forward to today… we watch this AMAZING closing of the “Market rate” and “Official rate” gap in Iraq… It hasn’t EVER happened. Why now?

First, who is this announcement by the CBI for? Does this affect the everyday people in Iraq? If it did, it would be to the tune of few dinars per transaction… so no, it doesn’t affect them much. Then who is the CBI talking to? I see this as a public declaration by the GOI and CBI to the IMF and others they intend to play ball.

Secondly, they have to do this before they will be fully accepted by the world exchange markets. It appears they intend to get there quickly.

Why? The answer to this whole commentary is simple… BECAUSE THEY WANT TO. They simply lacked the right level of desire before. It seems like they have it now.

Going back to what are they doing to affect this change? Dealing with their corruption. That’s it.

Do I care what they do or how they do it? I do not. The end result will be the same. I am happy we are seeing real results. Carry on.

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Is it time to delete three zeros from the currency?!

Economy News Baghdad: The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.

The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including “Economy News”, “The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply,” noting that ” To prevent manipulation and fraud by the owners of weak souls. ”

The central government stands with the central bank’s draft to delete three zeros of the currency, because it sees it “hurt the efficiency of the system of cash payments,” according to the financial adviser to the prime minister.

He added, the appearance of Mohammed Saleh, in an interview, “the economy News,” that “the current environment suitable for this project because there is financial and political stability witnessed by the country, especially after the salvation of the organization (da’ash).”

He stressed the need not to rely on the project to support the Iraqi dinar, but “focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability,” pointing out that “the central bank has accumulated experience in dealing with the subject.”

The economist said, in the name of Jamil Anton, for “Economy News”, “The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form.”

He pointed out that “the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market,” noting that “the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. ”

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.

Article Credit: economy-news.net (Special Thanks to Tim Tarkington)

BGG ~ This was dated today. This is current news!! It appears both Saleh and Alak believe the current climate is right, however, one economist mentioned does not. We’ll soon see (as in – between now and a month or two after the elections – according to them).

P.S. In response to some boo hooing going on… I don’t see how anyone can read this and not be VERY excited?? Seriously?!? Because it alludes to some point in the near future instead of tomorrow or the next day? Sheesh!!

Read it again. Only one economist is offering his opinion that the time may not be right. Everyone else (that actually matters) are ready to go.

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APMCRX (Dinar Guru) –   Article:   “Market Review: Market Consolidates”  Wow wow wow this article is telling you when the IQD will start a real recovery…Timing…. a lot of timing is still need it… Demand and supply…M2 will increase over the time…Abadi is doing bussiness around the world… investments in a short-medium term good for the IQD…IMO

Read more: http://www.dinarupdates.com/observer/
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Central Bank of Iraq Auctions $181,011,486 on April 5th 2018

Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on April 5 registered $181,011,486 in sales, a 16.86% volume increase from the US $154,898,864 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 4.

The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April 5 compared to the previous auction.

Data for the April 5 auction was made public by CBI Announcement Number 3671.

Dollar sales in the in the period January 1, 2018 to April 5, 2018 saw an increase of -1% compared to the sales of US $9.35 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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Mishan al-Jubouri: The sale of the currency will not stop because politicians are the owners of fake banks

Said a member of the Parliamentary Integrity Committee MP Mishan al – Jubouri said on Saturday that “no one” can prevent the auction of the currency, while stressing that politicians are “owners” phantom banks.

“No one can prevent the auction of selling the currency,” Jubouri said in an interview with the program “Political Kitchen”, which is broadcast by Sumerian satellite channel, pointing to the reason that “politicians are the owners of fictitious banks.”
Al-Jubouri added that “each large party has 3 or 4 banks registered in the name of a brother, uncle or others,” pointing out that “the currency auction is an outlet for the benefit of these parties.”

A member of the Parliamentary Integrity Committee said that “one bank manager was locked up and the counterterrorism service intervened. He decided to arrest the director, one of the major currency dealers, responsible for the theft of 450 million dollars.” He said that he was ” Integrity or any other judicial authority. ”

“He said Jubouri, that” after that, turned the country, and imposed the political blocs on the judiciary to come out (bank manager) bail of $ 15 million, “asserting that” now in London. ”

The parliamentary economic committee warned on Wednesday (June 1, 2017), the central bank to continue its policy of classification of banks to varying degrees to participate in the window of the auction currency, calling him to commit to neutrality and non-discrimination between banks.

The Central Bank of Iraq sells the dollar to private banks and financial transfer companies through the auction, which is conducted daily and the amount of 150 million dollars, which increase these numbers or fall on demand by these banks, which affects one way or another on the reserve of the Central Bank of Iraq, which affected significantly in recent times As a result of the lack of adaptation between the dollar and between the sale through the auction.

Article Link: www.alsumaria.tv (Special thanks to Tim Tarkington)

BGG ~ Well, well, well… it’s finally getting out in the open. This is why (the long delays). The good news is – on other fronts, this is being dealt with, not hidden from the people and they are working to gain (or regain) the trust of the international community.

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Don961 (Dinar Guru) –  Article:  “Is it time to delete three zeros from the currency?”   Economists are saying… Politicians … put up or shut up … real reform is way overdo … imo.

Read more: http://www.dinarupdates.com/observer/
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Chattels (Dinar Guru) –    Article quote:  “Dollar exchange rates today in Iraq Release date: 2018/4/6 9:31 • [Ayn-Baghdad] Foreign exchange markets in Baghdad, on Friday morning, stabilized at the dollar exchange rate against the Iraqi dinar. The market price in the Kifah Stock Exchange in Baghdad was 1202.5 dinars per dollar...”  1202.5 dinars per dollar

Read more: http://www.dinarupdates.com/observer/
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The Iraqi Stock Exchange is classified as one of the top 10 global markets

The Iraq stock market index has risen about 10 percent since the beginning of 2018, ahead of other similar markets, making it among the top 10 markets in the world, according to the Morgan Stanley Index.

According to the Wall Street Journal, Iraq’s financial market, in the upscale Mansour district of Baghdad, has defied the violent volatility that hit global markets this year.
Shares in listed companies are among the best performing companies in the world in the first quarter of this year, the paper said.

Investors are betting on the country’s economic recovery after defeating ISIS in a three-year war that destroyed large parts of the infrastructure, causing damage to those companies over the past period.
“Iraq is like other early markets, such as post-Soviet Russia and others, which have done well for investors,” said Grant Philgenhauer, director of the Furat Consulting Foundation, which runs the Iraq-Euphrates Fund.

“The fund has invested $ 130 million in the Iraqi securities market and has risen more than 31 percent in the first quarter of 2018,” he said.

The Iraqi stock market has a market value of about $ 10 billion, relatively small compared to other similar markets such as Argentina and Vietnam, and even regional markets in Saudi Arabia and Kuwait.

Article Credit: http://en.economiciraq.com/ Special Thanks to Charles Bright!!

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Kaperoni (Dinar Guru) –   I try to teach people not to believe what I say but to research this investment. And doing so you will find that currency simply does not RV or RI, they float and gradually rise overtime. In fact once they begin this transition it could take two years or more to appreciate to a level that we all would consider cashing in.  There is no single event. This is a process that takes time.  

Read more: http://www.dinarupdates.com/observer/
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 Kaperoni (Dinar Guru) –   […What will happen to the dinar notes we hold here in the US? Any thoughts?]  According to the CBIs own words, held in central banks around the world for a very long time.

Read more: http://www.dinarupdates.com/observer/
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“Abadi” and “Maliki” and “Allawi” will not get the post of prime minister and favorite Hadi al-Amiri

Baghdad News – Predicted the intellectual and political Hassan al-Alawi, not to get Abadi, Maliki and Allawi to the post of prime minister next, stressing that the next government is destined to remain weak.

Al-Alawi said in a press statement that “the next government is no different from its predecessors and estimated according to international plans to remain weak for the next four years.”

He added that “the reading of the political map confirms that the head of a coalition of state law Nuri al-Maliki and current Prime Minister Haider al-Abadi and the head of the National Coalition Iyad Allawi will not have any of them the next prime minister and won one of the three personalities,” expected that “the prime minister to the head of the coalition Al-Fath Hadi Al-Amri. ”

On the repeated warnings of rigging the elections, Alawi said: “Do not warn him of the fake.”

Prime Minister Haider al-Abadi warned Sunday against buying and selling election cards, which are punishable by 15 years in jail

Article Credit: baghdadnews.info

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Some interesting headlines…

Iraqi newspaper publishes the Financial Budget Act of 2018

MPs demand an emergency session to pass important laws

Predictions: Abadi when winning a second term .. will do 5 things

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International arrest warrants for hundreds of “corrupt” Iraqis, including a former prime minister!!

Twilight News – A new government source revealed on Sunday the completion of arrest warrants against those accused of corruption and waste of Iraqi funds.

“Some 1,000 arrest warrants have been completed against those accused of corruption, including political leaders and a former prime minister,” the source told twilight news. “The memoranda were completed under the supervision of an international investigation team.”

“The current prime minister has not yet decided on whether to accept the implementation of this matter before or after the elections,” the source said, speaking on condition of anonymity.

He said that “there is an international procedure in this regard, especially as investigations in this regard proved the contribution of stolen Iraqi funds to terrorist operations and armed organizations,” according to the source.

The Iraqi Prime Minister Haider Abadi, announced earlier, after the end of the war against Daqash, he will launch a major campaign against corruption, after the activation of the work of international investigators began their duties to this end in the capital Baghdad.

Iraq signed two years ago a memorandum of understanding with the United Nations to involve international investigators in the files of major corruption of priority.

Article Credit: Shafaaq.com (Special Thanks to Tim Tarkington and Charles Bright)

BGG ~ For those concerned this won’t include Maliki… this may not be the case. The language – “a former Prime Minister” was included in the news release.

This could mean Maliki, or it could mean Allawi or “what’s his face…” – Jaafari, I think, who was in the Oil Ministry. He was interim PM for like a year back in the early 2000’s…

It also points out Abadi is considering whether to allow the UN to proceed before the elections or after. I have a suspicion there is pressure being put on him over this. It may well be out of his hands soon.

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Click this link to join the DU “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)

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Post RV Checklist (it’s getting to be that time!! Listen up!!)

Dos and Don’ts of Windfall Wealth:

Treat it like a PowerBall win

– Tell no one, not even family. If you must talk, do so with one who is already in the know.

– Don’t run out & buy new “stuff”. People notice.

– Get an unpublished number and give it out very sparingly.

– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…

Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477
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Thanks – BGG!!

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