Association of Private Banks: Banks are working on issuing four million bank cards
The Iraqi Private Banks Association announced on Monday that Iraqi banks are currently working on issuing four million bank cards.
The Executive Director of the Association of Private Banks, Ali Tariq, in an interview with “Economy News”, “The banks operating in Iraq are currently working on the issuance of four million bank cards and put them on the market,” adding that “the world will see in the coming years, Using electronic cards in daily transactions. ”
He stressed that “the issue of bank cards is of great importance after the opening in the society and the expansion of the banking culture of the citizen,” explaining that “the Association of private banks will establish several courses for bankers on the development of their capabilities in dealing with bank cards.”
______________________________________________________________
Follow us on twitter @DinarUpdates !!
Dinar Updates – Conference Call – with BGG & Company – August 8th, 8:00 PM CST Phone # 641-715-3640 PIN# 528733
www.DinarUpdates.com – save as favorite
______________________________________________________________
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– Get an unpublished number and give it out very sparingly.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
______________________________________________________________
Adam Montana (Dinar Guru) – [what is your take on their statement of establishing the National Oil Company and then doing the HCL?] I don’t think the National Oil Company is a prerequisite to move forward on the HCL. [If the Kurdish separate from Iraq, will they still use the Iraq Dinar? Whats your opinion how this would effect our investment?] It’s my opinion that will never happen.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
G-Lin (Dinar Guru)- “In a letter sent by the International Monetary Fund, congratulated the Central Bank of Iraq, the Ministry of Finance and the Prime Minister’s Office on the success of the second audit consultation on the Credit Standby Agreement, which came after Implement the programs and financial and monetary targets and put them in a framework that provides for the financial stability of Iraq and meet the financial and security challenges.” However, this says they will have a third review in Sept. on Iraq’s monetary policy. That’s unusal and I like it.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Bruce (Dinar Guru) – What we are hearing from Iraq’s point of view is they were going to have the IMF meeting in Iraq today [Tuesday]… I do know that things have occurred over there with the Iraqi citizenry where they do have a new rates and do have their new Qi cards which I refer to they have a share of the oil and gas exploration revenue on those cards. …Today this morning for the citizens in Iraq, those cards were live and accessible. They were able to access those funds at the new rates… That has to tell us that we are very close. …I think the IMF meeting was an overall success. I believe what Iraq needed to do is present their rate to the IMF today and I believe they did that successfully. I believe they had that rate approved today.
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
Abbadi heads the Ministerial Energy Committee meeting
Head of Prime Minister Haider Abadi, Monday, ministerial Energy Committee meeting, been taking instructions regarding the use of gas as a fuel for transport vehicles.
According to a statement by the Prime Minister’s Office, received/balance news/copy, “Abadi said Monday’s head,” Energy Committee meeting, stating that “the Committee had discussed the service contracts and distribution sector revenue and check them, and continue to transmit the rest areas to provide constant power to the citizens.”
He added, “the Committee discussed key petrochemical beacon project constraints and investment guidance about him, in addition to approve the request of the Ministry of industry and minerals change the assignment of contract processing of secondary stations pls to MEW of the General company for electrical and electronic industries company to the Public Ministry’s Zora.
And the statement that “the Committee also discussed a proposal to explore and develop patches and fields of the Ministry of oil, in addition to industrial water treatment unit,” he was taking instructions regarding the use of gas as a fuel for transport vehicles, besides showing recommendations workshop to examine the fuel conversion coefficient of black oil to gas. ”
______________________________________________________________
Team – Together Everyone Achieves More
______________________________________________
Qualifications passed 45 articles of the provincial elections law: Jubouri committed 5 irregularities
A parliamentary source revealed on Monday that Parliament Speaker Salim al-Jubouri committed five violations of the rules of procedure of the parliament in the voting session on the provincial elections law.
The source, who asked not to be named, told “Al-Ghad Press” that “Jubouri had agreed with the political blocs to pass the articles in accordance with the amendments that he wishes, in violation of the rules of procedure,” noting that the first offense is to re-vote on Article 12, And went to the proposal of the third amendment immediately (1.7) and did not start to vote on the first proposal (1.4).
He added that “the second violation is the proposal of the Legal Committee on the paragraph amendment of one of the articles during the session, and the rules of procedure provides that the proposed amendment to be drafted before the 24 hours of the vote session at least,” noting that “the third violation was the opening of the Speaker of Parliament to debate during Vote on the articles of the law, a blatant discussion. ”
______________________________________________________________
Enorrste (Dinar Guru) – Article: “Governor of the Central Bank of Iraq: expect economic movement in the next stage” …this is opening the door to foreign investment. Quote: “noting that “Iraq will be able to attract foreign investment because of the stability of the security situation and increase the number of investment opportunities.” Therefore…we should expect the dinar to be opened to the world market very soon. There will be no foreign investment without an internationally tradable currency.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Minister of Justice to study the possibility of opening offices of the Inspector General in the provinces
The Minister of Justice, Haider Zamili, on Monday, to examine the possibility of opening sub-offices of the Office of the Inspector-General in various provinces in addition to its headquarters in the ministry.
A statement issued by the ministry said that “in view of the urgent need for the existence of proper monitoring bodies to follow up the work of the judicial departments in different regions and follow up the completion of transactions of citizens properly and legally as soon as possible, the Minister of Justice to study the possibility of opening sub-offices of the Office of the Inspector General in various provinces.”
He added that “the previous period was discussed with the Integrity Commission on the conclusion of a memorandum of cooperation in the fight against corruption and the dissemination of a culture of integrity in all joints of the ministry and the various regions of the country and the cooperation of all state institutions to achieve this purpose.”
______________________________________________________________
MilitiaMan (Dinar Guru) – Article quote: “to achieve the goal of maintaining the exchange rate and ensure the use of foreign currency out of order to meet the needs of the economy and market and development and non-directed to non-purposes; ” There is a meeting with the IMF on 08/01/2017 if I am not mistaken. A one in regard to Article IV with Iraq. The article above speaks volumes of what has been done over the preceding two years. Not just one year. I believe this has to do with Article VIII… They have been working to maintain the exchange rate of the Dinar against Foreign Currency to cover imports entering Iraq while maintaining their independence under law. They go on to say that they are (imo) effectively ceasing MCPs (Multi Currency Practices) not supported or at least if are supported by the IMF, they are under the guidance of the IMF when doing so and would be short lived if even relevant. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
MilitiaMan (Dinar Guru) – They have all the mechanisms in place to facilitate trade to serve their national economy from the looks of things. They have mediation in order to be prepared for typical disputes in trade at borders. Basically, they are fully ready, if not already INTERNATIONAL and by all means! They are telling us they are going to contribute to GDP by having implemented monetary policy for sustainable development. They are telling us the Central Bank has facilitated procedures and controls, became transparent in disclosures in regard to maintaining their exchange rate. Ya buddy… This meeting with the IMF is not about what needs to be done, it is done! It must be about dotting I’s and Crossing T’s, and atta boyz and girlz, for a job well done! imo. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
Adam Montana (Dinar Guru) – My optimism in this venture is not waning, nor is it diminished even slightly. We have nothing but positives to consider at the moment. The cold hard truth is this: Iraq had a long road to travel. They have stood the test of time, they have marched forward through amazing troubles, and they are still heading in the “right” direction. But at no time in history, and at no time in the future, will they EVER tell us the “date” that they will do what they are bound to do at some point. At some point, they will raise the value. This is undeniable. But if they will do it tomorrow, or next Tuesday, or in a month or a year? We will never know that. I am going to say something with absolute conviction right now. This is absolute, no possible way to refute it, it is ABSOLUTE just like gravity pulls you towards the earth. With all my connections, with my decades of international communication and (I don’t even know how many airmiles) of travel, my past and present work and friendships with bankers, CEOs, politicians and more… I will tell you this… [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
______________________________________________________________
The first investment conference Diyala miscellaneous
The subsidiary Investment Committee Chairman in the House of representatives he bet on schedule on 18-19 this month for the first investment conference Diyala in coordination and cooperation with national investment Corporation.
He said in a statement to kill every agency Iraq [where] a copy that he met Mr Sami Al-araji, Chairman of the national investment and investment conference were agreed first to Diyala province, which will include viewing investment opportunities for various sectors [service, industrial, commercial, agricultural, health, housing, infrastructure] “indicating that the” Committee formed to prepare for the Conference completed all ready. ”
“The only solution is investment oriented to promote the service and urban realities for conservation and financing new projects in infrastructure and create jobs for young people, especially in light of falling oil prices and the absence of a general balancing of the State to finance these projects, maintenance and in the last three years did not receive any payments under the general budget, suspending all projects and the inability to maintain citizens ‘ service needs with increased population growth adds to the widespread unemployment among young people.”
______________________________________________________________
Kaperoni (Dinar Guru) – Article: “Governor of the Central Bank of Iraq inspected the headquarters of the International Development Bank” They clearly seem to be getting ready for international banking!
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
RayRen98 (Dinar Guru) – The CBI talked about economic reforms in the next few days, and said that they would lose IMF support if they didn’t get it done! We haven’t had confirmation of lower denominations. IT was said that the supplementary budget had to be passed first, and we understand that when it is passed, the rest will appear in the next few days. Over the weekend, we were told that the budget was approved and it should show up in the Gazette on Wednesday. Iraq has a meeting …1. August with the World Bank about their 580 billion dollar loan, and reforms must be in place before that time. The CBI has submitted their paperwork to the World Bank, and I guess we are waiting for the IMF and World Bank to sign off on it. So we are looking for this to unfold prior to August 1, or on August 1. We’re feeling pretty good about the 1. August, or before, unless something unforeseen happens. It looks like we are at the end of this ride, based on the information.
Read more: http://www.dinarupdates.com/observer/
______________________________________________________________
The greatest stimulus of mankind is freedom. – Paul Ryan
______________________________________________________________
Parliament votes on 46 articles of the draft provincial elections law (expanded)
Parliament votes on 46 articles of the draft provincial elections law (expanded)
(Baghdad: Al-Furat News) Voice of the House of Representatives in its 12 ordinary session held under the chairmanship of Salim al-Jubouri, the President of the Council and the presence of 212 deputies on Monday on the draft article 46 provincial elections and districts, and postponed the questioning of the Minister of Commerce and Agency to the next meeting.
At the beginning of the session, Jubouri presented a statement by the Information Department of the House of Representatives received the agency {Euphrates News} a copy of it today, “thanks to the heads of parliamentary blocs and committees for their keenness to discuss the draft law provincial and district elections during the meeting held yesterday to ensure the building of state institutions and what interests All, pointing out that the deputies sought to achieve consensus within the legislative institution and serve the interests of the people.
He praised the Jubouri, according to the statement on “the meeting held by the Legal Committee with the Ministers of Defense, Interior and Justice and the National Security Adviser to discuss some draft laws, including amending the amnesty law,” noting the “importance of such meetings to coordinate positions between the Council and the competent ministries,” and thanked ” Khudari to submit proposals for the draft provincial elections law. ”
Read more: http://www.dinarupdates.com/showthread.php?53009-Parliament-votes-on-46-articles-of-the-draft-provincial-elections-law-(expanded)
_____________________________________________________________
Keywords: the next stage will witness economic victories
Through the trend towards construction and reconstruction of Baghdad / Hussein after Iraq has proved to the world enraptured images and values of the human and moral waiting to prove an economic victory over the construction and reconstruction during the next phase, and that the new role requires concerted efforts combined to support reconstruction, which should banks be the cornerstone in this matter and doing very well through their sophisticated technology.
These words were Governor of the Central Bank and the Association of Banks during the ceremony organized by the International Islamic Bank on the occasion of victory over the “Daesh” terrorist and the granting of a certificate of ISO International Bank , which is the financial success of our sector. Page task Central Bank Governor Dr. Ali Keywords said that Iraq has proved the finest images triumphs of the world and move human values before the weapon , and so was the pride in the battle that will retain its history, pointing out that the new role is to address the building and reconstruction and succeed in this page task.
We cherish that Iraq has the power and energy that will enable the country to economic advancement, and in the financial sector , we note the progress and innovation, urging young people to be more distinctive and characterize their ability to capture sophisticated information, asking the banking sector to be the first among the country ‘s institutions in the use of advanced technology, and must speed in the use of technologies.
_____________________________________________________________
Iraqi private banks association: We seek to open up prospects for cooperation with foreign and US banks are particularly
The Minister of Economic Affairs at the US Embassy Larry Mimut on Wednesday, the banking sector , the most important one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop, as Iraqi banks are encouraged to open relations with the US private banks association, and at the time indicates the International Development Bank, that many of the Iraqi private banks in compliance with international standards, and is ready to open accounts with banks in foreign correspondence because of its unique cadre of integrated services, has accused the Bank of Baghdad administration, government banks acquired the banking business in Iraq because of policies The government supported the banking sector account.
This was during a panel discussion held by the Iraqi Association of private banks at its headquarters included both the representative of the Central Bank of Mazen morning and the representative of the Union of Arab Banks Khawla al – Asadi and a member of the Committee on Economy Parliamentary Mahdi Al – Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for Economic Affairs Embassy American Larry Mimut, in addition to the representative of the US Treasury in Iraq, with the aim of opening a new page of relations with foreign banks, particularly US banks.
The Iraqi Association of private banks in a statement after the meeting got (range) , a copy of ‘The aim of this dialogue session is to open a new page of relations with foreign and specifically with US banks banks’, where he formed a committee chaired by the representative of the Central Bank, as agreed the formation of a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks and the US specifically. ‘
_____________________________________________________________
Kaperoni (Dinar Guru) – Article: “Central announces solutions to avoid a shortage of dollar “deviation” in the price of holidays” They should have been doing this all along. Taking days off allows for the spread to increase due to a shortage. I would guess the IMF had a hand in this to get them to start attempting to get in compliance…and the CBI trying to minimize losses by only holding auctions on a schedule. But the reality is the fix is not to conserve dollars, it is to weed out the corruption.
_____________________________________________________________
Map: Tal Afar in the sight of Iraqi forces
On Wednesday, the Military Information Cell published a new map of the province of Nineveh, showing the remains of Daish in Tal Afar district.
The map shows the black areas controlled by Ta’ash, which are part of Tal Afar, green areas showing Iraqi forces’ control, and red areas that are considered as clash zones.
On Monday (July 10th), the prime minister of the armed forces, General Haider al-Abadi, announced the lifting of the flag of victory in Mosul and its liberation from the terrorist.
Read more: http://www.dinarupdates.com/showthread.php?52257-Map-Tal-Afar-in-the-sight-of-Iraqi-forces
_____________________________________________________________
Frank26 (Dinar Guru) – [Do you know when the MasterCard message was added to the Rafidain bank website?] YESTERDAY. [Did they initiate the RV process on Friday or Saturday?] NANO SECONDS AFTER MOSUL. [how will the [RV] launch be revealed?] ONLY BY THE CBI POSTING THE NEW RATE NOTHING ELSE COUNTS. [IYO, Does Iraq have the capacity and capability to withhold from posting a new trade-able rate on the CBI W/S (if they choose to), for an agreed or negotiated period of time?] YES! [When do you expect the rate to change?] IMO THIS YEAR. IMO EVERY SECOND HAS POTENTIAL NOW.
Read more: http://www.dinarupdates.com/observer/
_____________________________________________________________
Islandg1211 (Dinar Guru) – Eight months ago, I posted that we would need to see in this order before the RV…the following:
1) Mosul Liberated, Announcement by Abadi, and a Celebration. Done.
2) Agreement with Kurds, including oil and territory settlement, then finally the HCL will be in position to be passed by the GOI. (Kurds, including Barzani and the oil minister from Baghdad meet today…) Getting Done.
3) CBI re-educating citizens on the deletion if the three zeroes (we are seeing the payments in country with e-dinars, CBI website upgraded to BIS), and finally
4) Iraq being compliant with Article VIII with the IMF and 5 – UN lifting sanctions and the RV.
The IMF is meeting with Iraq in DC this week. The UN came out a couple of days ago and told Iraq they need to be Article VIII compliant/RV. The lynchpin to the RV, now that Mosul has been declared liberated by Abadi, the Kurds and Baghdad finalizing the HCL agreement. Barzani wants independence, and this agreement is going to have to allow for that contingency in order to get him to sign off on it. [post 1 of 2….stay tuned]
Read more: http://www.dinarupdates.com/observer
_____________________________________________________________
Delta (Dinar Guru) – …the CBI has to move forward. The media … just like we predicted … as soon as they get Mosul … speed of light. Right away the media has been jumping the gun on talking about the economy, etc. ..the CBI…we’ve known since January they been wanting to pull the trigger. The next 24-48 hours is going to be very interesting.
Read more: http://www.dinarupdates.com/observer
_____________________________________________________________
Central Economic and victory
Dr.. On behalf of the Patriarchs In his comment exhibition on the paper presented by the Governor of the Central Bank within a seminar held in Baghdad, Prime Minister for Financial Affairs Acanutormzar adviser Mohammed Saleh he said that the central bank contributed to the victory over Daesh through its success in achieving financial and monetary stability in the country during the period of military confrontation and thus maintain the level standard of living of the citizen, as well as it lent the government (indirectly) more than twenty trillion dinars.
He added adviser said the central bank had two choices : the first is to maintain internal independence towards the government finances and the failure to provide any financing to the government through the secondary market, which could have created a major financial crisis , and the second option to sacrifice its independence in order to maintain the stability of the financial situation and not to collapse, has Central preferred the second option in order to achieve stability.
Although this is still some singing charges for central without taking into account the state of war that call for providing the most important on important, some of them wonder about the central refusal to provide funding to the previous government, simply I think that the previous government requested funding has owned a financial surplus and a far cry between the two cases and, by contrast to imagine what it could be the case if the government was unable to pay the employees ‘ salaries?!.
Some say that the government withdrew from the bank reserve, and to clarify say: that the central reserve of foreign currency is not the government reserves last because to be the Ministry of Finance, as the government did not withdraw from the central reserve and it is permissible, and the central reserve changes linked to the first two factors is demand on the dollar , which is derived from the demand for imported goods and services generated by public spending.
The second issue is presented dollar (sold from the Ministry of Finance to the Central to buy the dinar), depending on the dollar revenues received by the government from oil which are affected by the quantity and price and when it drops one or both decreasing size of the reserve, and therefore the reserve is linked to public finances of the state.
Here we must recognize the central successfully during the crisis in maintaining the size of the reserve in accordance with the internationally accepted standards as well as the installation of financial stability contributed to the achievement of economic victory.
Read more: http://www.dinarupdates.com/showthread.php?52241-Central-Economic-and-victory
ith-a-global-company-to-determine-the-extent-of-damage-in-liberated-c
______________________________________________________________
BGG (Dinar Guru) – …I half way didn’t expect them to do this..but folks this is real. They are going to turn over the last bit of whatever is remaining in those funds…the food for oil program to Iraq and they are recognizing them as a country. They are not talking about letting them out of Chapter VII and it’s not even under chapter VII. This is Chapter VII charter. It’s a protection program. Looks like to me they had the meeting in 3 minutes and they put their rubber stamp on it and it’s over. It’s not the end of the security file…it’s the end of that particular program. There’s one more log on the fire. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer/
____________________________________________________________
“Flash Cast LIVE” – Tuesday (the 21st) w/BGG
Click here for Video Replay
______________________________________________________________
______________________________________________________________
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!!)
______________________________________________________________
Iraqi Dinar/Dollar auction 06-21-17 (most recent listing)
Currency Auctions Announcement No. 3470
This daily currency auction was held in the Central Bank of Iraq on the 06-21-2017
| DETAILS | NOTES |
| Number of banks | 39 |
| Number of remittance companies | 10 |
| Amount sold at auction price (US$) | 159,617,756 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 159,617,756 |
| Total offers for selling (US$) | —– |
Read More: http://www.dinarupdates.com/observer/
______________________________________________________________
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1184.000 | 1182.000 |
| Euro | EUR | 1325.962 | 1325.299 |
| British pound | GBP | 1515.757 | 1514.999 |
| Canadian dollar | CAD | 895.884 | 895.436 |
| Swiss franc | CHF | 1219.613 | 1219.003 |
| Swedish krona | SEK | 135.962 | 135.894 |
| Norwegian krone | NOK | 140.286 | 140.216 |
| Danish krone | DKK | 178.289 | 178.200 |
| Japanese yen | JPY | 10.663 | 10.657 |
| Special Drawing Rights |
SDR | 1636.868 | 1636.050 |
