Washington and Baghdad announce the end of the coalition’s military mission in Iraq

Baghdad and Washington announced Friday, the end date of the international coalition’s military mission in Iraq.

According to a joint statement by Baghdad and Washington, “Iraq and the United States of America have a strategic relationship, and as a result of consultations and discussions with the leadership of the international coalition to defeat ISIS and friendly member states, and intensive discussions within the US-Iraq Supreme Military Committee, which has worked diligently and professionally in intensive meetings over the past nine months, and after studying and evaluating the military and security situation in Iraq and the region, it announces the following:

First: Ending the coalition’s military mission in Iraq within the next twelve months, and no later than the end of September 2025, and moving to bilateral security partnerships that support Iraqi forces and maintain pressure on ISIS.

Second: Since Iraq is a key member of the coalition, and in order to prevent the return of the terrorist threat of ISIS from northeastern Syria, and depending on field conditions and consultations between Iraq, the United States, and coalition members, the coalition’s military mission operating in Syria from a platform to be determined by the Supreme Military Council will continue until September 2026.

Third: The Supreme Military Authority is committed to formulating the necessary procedures to achieve what is stated in the above paragraphs, and the timing and mechanisms for their implementation, including procedures to ensure the physical protection of coalition advisors present in Iraq during the transitional period, in accordance with the Iraqi constitution and laws. Practical steps to implement these obligations have begun.

Iraq thanks the coalition for the support and assistance it provided to the Iraqi security forces to confront this common threat and secure the defeat of ISIS on the ground in Iraq, and at the forefront of these countries is the United States of America, which stood with Iraq in difficult circumstances.

The coalition appreciates the role of Iraq and the great sacrifices made by all Iraqi security forces in fighting this terrorist organization that posed a threat to the entire world, and stresses the need to continue all efforts to ensure that the threat from this terrorist organization does not return in any form.

We look forward to strengthening relations between Iraq and the United States, as both countries seek to enhance security assistance and cooperation based on mutual respect, consistent with the U.S.-Iraq Strategic Framework Agreement and the Iraqi Constitution, and to advance an enduring bilateral partnership consistent with the U.S.-Iraq Joint Statement issued during Prime Minister Mohammed Shia al-Sudani’s visit to Washington, D.C., on April 15-16, 2024, and the U.S.-Iraq Joint Statement following the Second U.S.-Iraq Joint Security Cooperation Dialogue held in Washington, D.C., on July 22-23, 2024.

This historic transition marks a decade since the formation of the coalition military mission in Iraq, and Iraq continues to cooperate with the United States and other coalition members to establish bilateral security relationships where appropriate.

In order to facilitate the safe and orderly conclusion of the international coalition’s military mission, the Government of Iraq affirms its commitment, in line with its international obligations, to protect international advisers present in Iraq at the invitation of the Iraqi Government.

Burathanews.com

Advisor to the Prime Minister rules out a decline in gold prices in the coming period..and explains the reasons

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, ruled out a decline in gold prices in the coming period.

Saleh told Al Furat News Agency: “The global financial markets, including futures markets in particular, are a place or market for information before anything else, and their efficiency is in the sufficiency of their information.

Therefore, they are the vital field in which the forces of financial speculation play their role and look forward to quick profit and avoiding losses when maximizing their wealth and preserving their financial capital accumulation. In this regard, they possess the tools, standards and predictive indicators produced by the aforementioned information markets, so that the forces of speculation can make their decisions according to their predictions about the nature and speed of change in asset cycles witnessed by the oil markets, gold markets and other important metals to avoid loss and maximize profit when managing their investment portfolios.”

He explained that “the shift from short positions to long positions or vice versa in the activity of buying and selling financial assets, especially those related to speculation in raw materials or metals, specifically (gold and oil), is today taking an accelerated form in the speculative activity in these financial markets, as speculators’ holdings change from one moment to another.”

He explained that “any change in the centers of selling {gold and oil} and buying financial assets, especially those linked to assets of oil, gold, other metals and currencies, as their investment decisions today are mostly subject to at least four factors: First, the geopolitical factor, especially the upcoming raging winter war on the Russian-Ukrainian front, second, the dangerous geopolitical situation in the Middle East as a hub for oil and energy in the world, and third, the imminent announcement of the formation of the new international currency system (BRICS), as information shows that the new currency system may adopt the traditional gold standard in the basics of the stability of that international currency (BRICS currency).”

Saleh pointed out that “BRICS countries have an importance in the international economy estimated at about 35% of the global gross domestic product and dominate half of global trade at the same time.”

He continued, “As for the last factor, the petrodollar and its fluctuations with OPEC+ decisions regarding opportunities to discipline the supply of crude oil in the international market, as oil price increases often lead to fluctuations in the value of the dollar and the demand for it for the purposes of financing global trade and oil in particular, which is governed in terms of market value by federal interest rates and the general monetary policy of the United States of America.”

He stressed that “all these factors governed by the growth in the global economy drive the current fluctuations between oil prices, gold prices and other assets, whether instantaneous or directional fluctuations,” noting at the same time that “the cycle of gold assets in their rise and fall is one of the slow cycles, so gold was and still is a safe haven in hedging against unexpected losses and others when maintaining financial wealth. Thus, we may not expect gold prices to fall or a reversal in its price trend during the coming period, despite the daily adaptive fluctuations in the prices of the yellow metal.”

Alforatnews.iq

Why did the Central Bank hesitate to implement the measures taken against Iraqi private banks?

Local, including liquidation and guardianship, where it was taken Central Bank Iraqi sentence From the decisions against a number of Iraqi private banks for violating banking instructions.
The source said in an interview with Sumerian News, “Ban kBabylon It was referred to forced liquidation, and the bank was placed under guardianship. Arabic Islamic and Middle East Bank Iraqi For investment.

The source pointed out that “the guardianship period of the bank has been extended.”North Until October 31st.

The source said, “These decisions were delayed without knowing the reasons.”

Economists wondered “why the Central Bank was hesitant in issuing decisions on these banks, while I believe…Some Among them is that “political pressures from high-ranking sources were exerted on the Central Bank with the aim of delaying the implementation of these decisions.”
They pointed out that “this indicates the presence of corrupt parties behind these banks that have failed in their work and violated the laws and regulations in force,” stressing “the need to amend the work context of these banks, which, if their violations continue, will indicate negative indicators for the economy. “Iraqi Which the government seeks to reform through a package of measures.

Alsumaria.tv

Gulf-American statement directs a strict request to Iraq

A joint statement issued by the Gulf Cooperation Council and the United States on Thursday called on Iraq to fully demarcate the maritime borders between the two countries after point 162, and called on the Iraqi government to ensure that the 2012 agreement regulating navigation in Khor Abdullah remains in effect.

This came after US Secretary of State Antony Blinken met in New York with Sheikh Mohammed bin Abdulrahman Al Thani, Qatari Minister of Foreign Affairs and current Chairman of the GCC Ministerial Council, in addition to the foreign ministers of the GCC member states and the Secretary-General of the Council, Jassim Mohammed Al-Badawi .

According to the statement, the ministers referred to the decisions of their meeting on September 18, 2023, and stressed the importance of Iraq’s commitment to Kuwait’s sovereignty and territorial integrity and respect for international agreements and United Nations resolutions, especially Security Council Resolution No. 833 regarding the demarcation of the borders between Kuwait and Iraq .

They called for the full demarcation of the maritime borders between Kuwait and Iraq beyond border point 162, and called on the Iraqi government to ensure that the agreement between Kuwait and Iraq, concluded in 2012 to regulate maritime navigation in Khor Abdullah, remains in effect .

The Ministers expressed their support for Security Council Resolution 2732 (2024), which mandated the Secretary-General of the United Nations to facilitate progress towards resolving all outstanding issues between Iraq and Kuwait, including the return of all Kuwaiti and third-country nationals or their remains and the return of Kuwaiti property and the national archives .

The Ministers noted the important role that the United Nations is currently and in the future playing in implementing Security Council Resolution 1284 and ensuring continued progress towards resolving these issues, and called on Iraq to make every effort to reach a solution to all the issues concerned .

Shafaq.com

Iraqi Dinar / US Dollar auction results for Thursday 09-26-2024

Results of the foreign currency selling window for Thursday 09/26/2024

Advertisement No. (5211)

The amount:

Total amounts of transfers abroad (transfers, credits)
241,058,524

Total cash withdrawals
10,400,000

Total total sales
251,458,524

Note that: The selling price of documentary credits and international settlements for electronic cards is ( 1310 ) dinars per dollar.

The selling price for transfer amounts abroad is ( 1310 ) dinars per dollar.
The cash selling price is ( 1305 ) dinars per dollar.

cbi.iq/currency_auction

Al-Sudani issues banking directives, including suspending capital increases for banks subject to US sanctions

A government source revealed, on Thursday, that Prime Minister Mohammed Shia al-Sudani issued directives related to financial and banking reforms, including not increasing the capital of banks subject to US sanctions.

The source told Shafaq News Agency, “Prime Minister Mohammed Shia al-Sudani, before leaving for New York, held a number of meetings with banks and the Central Bank of Iraq, where those meetings discussed in detail the Central Bank of Iraq’s plan to rehabilitate private banks by contracting with an international consulting company.”

He explained that “the Prime Minister directed a number of points, on the importance of the plan for developing private banks by Oliver Wyman Company being clear in terms of timing, distribution of responsibilities, and issuing progress reports in this regard.”

The directives included “accelerating the implementation of the recommendations issued by the Ministerial Council for the Economy to support Iraqi banks, including delaying the increase in capital for banks banned from dealing in dollars by the US Treasury.”

The source indicated that Al-Sudani also directed “the preparation of a study to activate the local cards project internally, as well as urging Iraqi ministries and institutions to increase dealings with licensed Iraqi banks in various banking services and open accounts with them.”

Last Monday evening, Iraqi Prime Minister Mohammed Shia al-Sudani received US Deputy Treasury Secretary Wally Adeyemo and a number of officials from the Treasury Department, according to a statement received by Shafaq News Agency.

The meeting witnessed discussion of bilateral economic relations between the two countries in various vital sectors, review of the government’s efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering.

Al-Sudani stressed that the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government’s approach and its commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving investment environment in Iraq.

For his part, Adeyemo praised the progress witnessed by Iraq in the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6 % , which enhances the government’s efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development.

Shafaq.com

Iraq expresses readiness to enter into partnership with America in the oil industry sector

Prime Minister Mohammed Shia al-Sudani expressed, on Thursday, Iraq’s readiness to enter into a partnership with American companies in the oil industry sector, revealing at the same time his government’s intention to establish a new Iraqi bank.

This came during his participation in New York, after midnight on Wednesday, in a dialogue session held by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council.

Al-Sudani said during the dialogue session that the government has embarked on a series of rapid projects, including the important agreement with Total, which contributes to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds’ appendix, and entering into contracts to produce oil and invest in gas.

He pointed out that after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as the rehabilitation of the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity reaches 150 thousand barrels per day.

He added, “We have finished importing petroleum derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra,” adding, “Our vision is to convert 40% of the exported oil into transformation industries, which will give us more benefits than selling crude oil.”

Al-Sudani touched on the banking sector in Iraq, pointing out that development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade take place through reliable banks.

He stressed that the currency selling window will be closed at the end of this year, and the money laundering office at the Central Bank is working effectively, noting that the government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens’ confidence in banks and expanded financial inclusion.

The Prime Minister continued, saying: The Central Bank has independence and exercises its powers with complete professionalism, and we intend to establish a new bank that adopts the latest technologies.

Al-Sudani called on all companies working in the field of electronic payment to work in Iraq and we will provide them with all facilities, concluding by saying that we have developed a plan to develop the infrastructure, with allocations reaching 83 billion dollars.

Shafaq.com

Parliamentarian: The judiciary has proven the issue of “wiretapping” and Al-Sudani’s brother is involved and fled to Turkey

MP Mustafa Sand revealed on Thursday that the Iraqi judiciary has verified the issue of the “wiretapping network” with conclusive evidence.

Sand said in a video clip from in front of the First Karkh Investigation Court, which was followed by Shafak News Agency, that “Zain and Asiacell companies have proven with conclusive evidence to the Iraqi judiciary that there was eavesdropping and spying on some representatives and political figures in 2023 and 2024.”

Sand pointed out that “the figures involved are Haider Laith al-Sudani, Director of the Eavesdropping Directorate in the National Intelligence Service, Haider Shia Sabbar al-Sudani, the Prime Minister’s brother who is now a fugitive to Turkey, Abdul Karim al-Sudani, the Prime Minister’s military secretary, and a fourth senior figure who will be mentioned at a later time.”

It is noteworthy that on August 19, Iraqi security forces arrested a “wiretapping and forgery network” led by a close associate of Al-Sudani, Mohammed Juhi, and including employees and officers, according to statements made by MP Mustafa Sand.

On September 1, the Supreme Judicial Council described the information circulating about the wiretapping network case that was run by Mohammed Juhi, the former director of the Prime Minister’s office, as inaccurate.

Shafaq.com

Political veto disrupts interrogation of Al-Sudani government

A member of the Iraqi parliament revealed, on Thursday, the existence of what he described as a “political veto” that obstructs the interrogation of ministers in the government of Mohammed Shia al-Sudani.

The representative of the Ishraqat Kanun parliamentary bloc, Zuhair Al-Fatlawi, told Shafak News Agency that questioning ministers and officials is the work of a member of the House of Representatives and reflects the oversight and legislative role of the House of Representatives, noting that each representative can collect 25 signatures from members of the Council to question the minister in Parliament.

Al-Fatlawi confirmed that there is a movement within the House of Representatives to question a number of ministers by collecting parliamentary signatures, as signatures were collected and requests were submitted to question the Minister of Electricity, the Minister of Transport, the Minister of Communications, and the Executive Director of the Communications and Media Commission.

He added that oral questions were also submitted to the Prime Minister and a number of ministers, as requests were submitted separately by representatives from various political blocs.

However, Al-Fatlawi explained that the interrogation requests submitted to the Presidency of the House of Representatives were subject to a “veto” from the Presidency of the House, which led to the disruption of the interrogations due to political pressures exerted by the political blocs.

Shafaq.com

The Central Bank decides to refer a bank to “forced liquidation”

A document from the Central Bank addressed to the Bank of Babylon stated that “based on the decision of the Board of Directors of the Central Bank No. 203 of 2024, the following was decided:

1- Referring your bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.

2- Appointing Ahmed Abdul Mahdi Nemah as the bank’s liquidator.

Burathanews.com