Basra branch director receives US consul
Stressing the need for growth of the banking sector Director of Basra branch receives the US Consul.
The Director General of the Central Bank of Iraq Branch of Basra, Dr. Qassim Rahim Maribat during a meeting with US Consul in the province, Timi Davis, the need to promote the growth of the banking sector and economic development in the southern region.
The meeting, which included the advanced cadre of the branch of the Central Bank of Iraq in Basra, discussed ways to open prospects for cooperation within the banking sector to serve the economic and financial process of Iraq in general and the southern region in particular.
For his part, Timmy expressed the readiness of the US consulate to assist in the development of the banking sector in the southern region, thanking the Director General of the branch and his staff for the gift presented to him, the logo of the Central Bank of Iraq.
Read more: http://www.dinarupdates.com/showthread.php?55175-Basra-branch-director-receives-US-consul
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10/20 – Recorded Call Replay Link
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Enorrste (Dinar Guru) – “Achieving Growth in Contexts of Great Challenge: The Iraqi Private Banking Sector” The very fact that this conference exists is a good sign. It shows that all parties are aware of the problem and are attempting to work out a solution. The issue of whether any bank coming into a correspondent relationship will find it likely that they will make money is a serious concern. …At the same time there was a clear understanding by one of the members of the “wild west” theory that KAP [Guru Kaperoni] and I have talked about for years. She said almost the same thing we have been saying all along, namely that once the movement begins it will snowball and lead to very rapid economic growth in Iraq. It is the beginning of the snowball that is the current problem. Several members indicated that the laws and regulations are now in place, but that implementation is what is lacking. This, to me, is a positive step. I think that this is a lot like the snowball affect that I just mentioned: it just needs to get started. Once it does the confidence level will rise in bank usage. Once that happens foreign banks will want to get involved as well. [post 1 of 3….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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Enorrste (Dinar Guru) – It is a positive sign to me that all of the representatives on this panel recognize the liquidity problem and understand that getting the money out of the mattresses is the solution. I would venture to guess that the CBI has a plan to push this process along, even to the point of forcing people to use their mattress money if necessary. As with my other comments above I believe that this snowball affect will be the most important, once it begins. The statement by one of the Iraqi bankers…was quite revealing, namely that he appealed to the CBI to just given the banks a checklist of things that need to be done to bring them into full compliance. I would wager that this proposal will be acted upon quickly by the CBI, once it is presented to them, and that full compliance across the board will occur shortly thereafter. One thing is clear: all of the Iraqi bank representatives expressed a deep desire to be fully compliant. The statement was simple: “Just tell us what to do and we will do it!” [post 2 of 3….stay tuned]
Read more: http://www.dinarupdates.com/observer/
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Coordinating Council
The next requires the work of a high degree of precision and organization of the heavy task of the economic management of the two countries, where there are major financial figures required by the volume of work looking for a sophisticated banking sector has the advanced technology that can deal with such figures.
A new stage adopted by Iraq is crowned by openness to the regional and international economic blocs to ring the bells to start the real joint work of great economic feasibility, coupled with sincere wishes to turn the page of the past with its content and open a page of benefit to the two countries and the peoples of the region in general. The economic victory of the establishment of the Coordinating Council between Iraq and Saudi Arabia coincides with a major security victory, and Baghdad and Riyadh enter into a new work circle based on economic construction between the two countries and its implications for the economies of the region.
Iraq and Saudi Arabia are two major economic powers in the world to acquire the wealth of the two sides, which require a large volume of work that requires the efforts of the private sector in both countries and the region, as well as the evolving global effort to invest in wealth in a way that changes the shape of the economies of the region for the better.
Read More: http://www.dinarupdates.com/showthread.php?55158-Coordinating-Council
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Recent Headlines…
The President of the Republic approves the removal of the governor of Kirkuk (Side note – this was approved by Fuad Massoum; the KURDISH POR)
US Chevron suspends its activities in Kurdistan
A Saudi diplomat: the next phase will witness a huge business with Iraq
Iraq warns foreign oil companies from contracting with the Kurdistan region
URGENT JUDICIAL COUNCIL: An arrest warrant issued against Kosrat Rasoul (KRG official)
Kurds head again towards Kirkuk; IMIS turn tail (this has the feel of “propoganda” )
U.S. Treasury: pay attention to the development of the private banking sector in Iraq
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BGG Article: “Iraq Will Remain United By HAIDER al-ABADI OCT. 18, 2017” Quote: “In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq,” it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…” What is Abadi up to?? Why submit this to the NYT today?? Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.
Read more: http://www.dinarupdates.com/observer
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Kurdish source: Nuri al-Maliki allowed Peshmerga to extend for a share of oil smuggler
Revealed a leader in the Kurdish National Union Party about a deal was the former Prime Minister Nuri al-Maliki had held with the President of the Kurdistan region Massoud Barzani, while planning for a second term in 2010
The Kurdish leader said that a secret agreement signed between Maliki and Barzani stipulates that Maliki get a percentage of Kurdish oil smuggled, and be a partner with the Barzani family in the proceeds of oil smuggling, either from Kirkuk or the region in exchange for allowing the expansion of the Peshmerga in the disputed areas, and that gave a pledge Barzani has joined Kirkuk in Kurdistan and turned a blind eye to the impoverishment of the main neighborhoods of the oil-rich city.
The source pointed to the leaks of a private dialogue between Barzani and Maliki in 2010, in which the latter said that the western region of Iraq does not mean much, and is sure that Anbar, Nineveh, Diyala and Kirkuk will not be under the control of Baghdad, and is ready to give up those areas, To choose any area to be included in Kurdistan in exchange for the Kurds support Maliki in keeping him at the head of the executive authority in Iraq,
A leader in the National Alliance said that Maliki is in a state of hysteria because of political gains achieved by Abadi, and that he was disappointed with any victory in the upcoming elections due to the broad popularity of Abadi as a result of his skill in dealing with the referendum crisis and his success in restoring the disputed areas, Without armed clashes with the Peshmerga.
The source, who preferred to keep his name to avoid embarrassment, that Maliki continues contacts with Iranian leaders in search of an opportunity to restore some of the presence in the Iraqi Shiite circles, seeking the leader of the Islamic Revolution in Iran, Ayatollah Ali Khamenei and his adviser Qassem Soleimani support in the upcoming elections, The existence of an international conspiracy to postpone the elections and keep Abbadi two more years in office.
The source said Maliki asked Kassim Soleimani if Iran would continue to support Abadi and provide a basket of gains to the Iraqi prime minister to ensure his political future? How is Iran’s support for Abadi balanced with Turkish and American support? Sulaimani replied: “Ebadi managed the crisis with the mentality of the state man and achieved a rare state of balance between all parties, and he deserves all of their support.”
BGG ~ So it becomes clearer and clearer as to why the Kurds didn’t use their critical “swing vote” against Maliki when they could have. Barzani was “on the take” and in bed with him all along…
I’m not sure I have much sympathy left for him these days…
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The President of the Republic approves the removal of the governor of Kirkuk
Baghdad: al-Furat News – President of the Republic Fuad Masum, the removal of the governor of Kirkuk, Najmuddin Karim.
The President of the Republic Fuad Masum has refused to ratify the removal of the governor of Kirkuk until the decision to appeal, and said the legal adviser to the Presidency of the Republic that “the postponement of the decree of the President of the Republic to remove the governor to cut the legal period in the appeal
For its part, circulated the General Secretariat of the Council of Ministers, To all government institutions
The appeal of the governor of Kirkuk before the Administrative Court of the decision to remove him from Parliament
The Administrative Court responded today the appeal submitted by the governor of Kirkuk, article Necmettin Karim on the decision of parliament to remove him from office.
BGG ~ Whoa!! This stuff is getting real for these KRG actors. Karim has been the Gov. of Kirkuk for as long as I can remember.
I bet he wishes he weren’t photographed sitting next to Barzani in those meetings the other day, helping him look all “presidential” and stuff. YIKES!!
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Dinar Updates – Q & A Call – from BGG & Company – Oct. 13th – 8:00 PM CST 641-715-3639 pin #528733
10/13 – Recorded Call Replay Link
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Kaperoni (Dinar Guru) – Articles: “US banks, is considering working with Iraqi banks mechanism” “Iraqi bank delegation discusses cooperation opportunities in America” I can’t state this enough, there is no overnight RV or any kind of cash out through banks. If these articles show us anything, it shows us that banks by nature take a conservative approach to dealing with Iraq. If and when Iraq is in compliance with the IMF and meets Article VIII, then I would expect a few US banks to begin to participate with Iraq for investment purposes. As that grows and the CBI demonstrates it can meet the needs and requirements, investment will increase opening the flood gates to investors. But this does not happen fast. As for us as investors, I have stated before, I believe we are just “watchers”. We will see the dinar begin to rise via float when appropriate. As for of cash out or exchanges would probably be through some type of currency broker/ ECN, market maker or investment firm. The problem is this all falls on Iraq to get moving. Without the new CBI law, deposit insurance law, Article VIII, etc. nothing happens.
Read more: http://www.dinarupdates.com/observer
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Iraq Will Remain United
By HAIDER al-ABADI OCT. 18, 2017
BAGHDAD — In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq,” it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…
Read More: http://www.dinarupdates.com/showthread.php?54989-Iraq-Will-Remain-United&p=179863#post179863
BGG ~ That is right Bobby (and Thank you – BTW) – what is he up to?? Why submit this to the NYT today?? Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.
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Adam Montana (Dinar Guru) – When Abadi vs Maliki was happening, that was another major step for Iraq. Again, it wasn’t a promise of immediate RV, but let’s face it – a major change in value of the Dinar was never going to happen with Maliki at the helm. Maliki simply had no reason to act in Iraq’s best interest when he had such a huge ability to pilfer the system under his power. I firmly believe that Abadi is not like Maliki, and when he won that battle, our landscape changed for the better…but even that was not enough. There was still the issue of the HCL, which MUST be resolved before (or simultaneously with) an RV. Now let’s look at today…this immediate point in time, where once again the rumor mills are churning and people are getting excited. I’m going to make two specific statements right now, and I hope they stick: 1. None of the gurus can call the Date. 2. Despite #1 above, the current level of activity is not to be ignored. Things ARE happening. [post 2 of 2]
Read more: http://www.dinarupdates.com/observer
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Kirkuk: Asking the Next Big Questions
Will the Kurdish government join forces with the central Iraqi government in Baghdad to govern Kirkuk?
Before the ISF staged its operation, there had been rumors that the faction of the Patriotic Union of Kurdistan (PUK) party led by the Talabani family proposed jointly governing Kirkuk province with Baghdad. In seeming support of the rumors, the Talabani faction ordered Kurdish peshmerga fighters to withdraw and to allow ISF to retake some of the energy installations in the city. It’s still uncertain, however, if there’s a deal in place between the PUK and Baghdad to jointly manage the province’s government or its oil and natural gas resources. That a deal would exist makes sense given the longstanding divisions between the PUK and rival Kurdistan Democratic Party (KDP), which controls much of the economy in Iraqi Kurdistan.
Will Baghdad maintain control of Kirkuk’s oil exports?
It almost certainly will, at least in some capacity. For the last three years the Kurdistan Regional Government (KRG) has been able to export oil produced at the Bai Hassan oil field and the Avanah and Baba Gurgur formations of the Kirkuk oil field, given it had effectively appropriated and incorporated the fields into its own energy sector. The federal government is now in control of those fields and could use them in negotiations with the KRG. But, though Baghdad plans to rebuild its own pipeline to export oil from Kirkuk,
right now all export infrastructure from the city goes through Kurdish-controlled territory, which could complicate Baghdad’s ability to sell the oil Kirkuk produces. Baghdad, recognizing its constraints, could offer the KRG joint administration of the oil resources or continue transit contracts with it to distribute Iraq’s oil wealth. Alternatively, it could shut off production in Kirkuk to increase financial pressure on the Kurdish government. Thus, there’s the chance that Iraq’s northern oil exports — which amount to around 550,000
barrels per day — could decline by as much as 300,000 bpd. In the long run, Baghdad hopes to boost Kirkuk’s production to above 1 million bpd.
What will KRG President Massoud Barzani and his party, the KDP, do next?
The loss of control over parts of Kirkuk will weaken the KRG’s position, but it will weaken the KDP even more. Barzani was already facing criticism for extending his presidential mandate that originally was set to end in August 2015. Though he has supported parliamentary and presidential elections scheduled for Nov. 1, it’s not clear that they will actually be held. To rebuild some of his support, Barzani could tap into nationalistic sentiments by painting pro-PUK segments of the peshmerga, which withdrew from Kirkuk when Baghdad entered, as traitors and by holding fast to his calls for Kurdish independence from Iraq. It’s more likely, however, that the weakened KDP will reduce its demands on Baghdad to facilitate negotiations…
Read More: http://www.dinarupdates.com/showthread.php?54968-Kirkuk-Asking-the-Next-Big-Questions&p=179832#post179832
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Kurdish list calls Barzani to apologize and end his “political life”
Baghdad today – The Kurdish new generation called on Monday for Barzani to apologize to the people of Kurdistan and immediately resign from his post, ending his political life, while threatening to resort to the street.
The list said in a statement that “Barzani and the leadership of the five ruling parties in the region must submit their resignations immediately, because they are the cause of the current situation,” indicating that “if the regional leaders did not recognize responsibility for these events, they will seek to move the street to end this government Failed “.
The list added that “the events of Kirkuk have shed the curtain on the situation in Kurdistan, and showed that the traditional parties have failed to deliver our people to safety, but on the contrary they put the Kurds in a dark spiral, and the failure in Kirkuk back to that political elite controlling the political life In Kurdistan since the early eighties of the last century. ”
According to the statement, “what is happening now is only the preliminary results of the referendum, which Massoud Barzani insisted on the September 25, 2017 with the help of political parties and their traditional leadership, and the exclusion of advice and suggestions of friends of our people at home and abroad and to make personal interests above the higher interests of the people of Kurdistan” .
The list demanded “the removal of the government of Najran Barzani, the acceleration of the formation of an interim government does not organize traditional political figures, and the new government in cooperation with the United Nations to prepare for the elections of the parliament of Kurdistan in accordance with international standards,” noting that “the Kurdish people face a serious dilemma, In which everyone will critically examine the new reality and hold accountable those responsible for these events. ”
Baghdadtoday.news
BGG ~ While I doubt very much Barzani jumps up and resigns today because one of the fringe opposition parties says he should…
…this is exactly the developing narrative I outlined from very early on. This referendum had NOTHING to do with Kurdish independence and EVERYTHING to do with KRG internal politics.
All of which is why you saw the Gorran/PUK support for the vote softening in the last week leading up to the referendum. They had it figured from very early on. They had an idea of what the U.S. deal looked like. They knew Barzani passed on their GOLDEN TICKET. Why? Simple.
The Kurdish GOLDEN TICKET didn’t include Barzani as the regional President anymore… in fact, the documents referred to his role “post-Presidency”. It looks like, at this point, he had no intention of bowing out of the KRG ruling class during this next electoral cycle. It was all lies.
Let’s see which way he jumps next.
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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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BAGHDAD: A senior Iraqi military commander said the Peshmerga forces returned on Wednesday to the positions they controlled in June 2014 before the occupation of gangs and called for terrorist provinces in northern and western Iraq.
[Ayna-Erbil] – Kurdish news agencies published the text of a letter from US Secretary of State Rex Tillerson to Kurdistan Regional President Massoud Barzani before a referendum on September 25.
Baghdad / The six-day annual meetings of the International Monetary Fund (IMF) were held in Washington, DC, on Tuesday. The agenda of the meetings on the first day included a discussion on what the IMF is doing and what are the main and unregistered objectives. Christophe Rosenberg, on how the International Monetary Fund (IMF) finances its operations, while the IMF’s General Counsel and Director of the International Monetary Fund Shawn Hagan pointed out how to develop the IMF’s capabilities.
On October 12, the oil-rich Iraqi province of Kirkuk came very close to witnessing a major clash between two U.S.-armed militaries — the federal Iraqi army and the forces of the Kurdistan Regional Government (KRG). The army has been unable to access its old bases in Kirkuk since its June 2014 collapse at the hands of the Islamic State, and Kurdish Peshmerga have since taken full control of these areas and their oil fields. The recovering federal military has now made its first attempt to reenter the Peshmerga-controlled zone.