WalkingStick - PCC [Partial Convertible Currency] Started Two Months Ago On Forex With $1.70 - $2.00 PCC Testing !

[DinarThug]

42 minutes ago, DinarThug said:

Iraq is officially excluded from the list of States subject to monitoring and follow-up

 

1st July, 2018

The Central Bank of Iraq (FATF) announced on Sunday that the FATF has officially released it from the follow-up area, as the Bank and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its obligations

 In a statement received by Al-Iktissad News, the bank said, "FATF has officially removed it from the follow-up area, because the Bank and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its commitments to the FATF recommendations. Requirements of the AML / CFT strategy prepared by the Central Bank. "

He added that "the bank has legislated the Anti-Money Laundering Law No. 39 of 2015 and issued instructions and controls and the establishment of the Anti-Money Laundering and Financing of Terrorism Council as well as the Committee on the freezing of terrorist funds."

The statement pointed out that "Iraq is no longer subject to monitoring and follow-up by the FATF."

 

#####################

 

https://cbi.iq/news/view/748

Iraq officially exits from list of countries subject to monitoring and follow-up by FATF

 1st July, 2018

 

The FATF officially announced Iraq's exit from the follow-up area, as the CBI and AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its obligations towards FATF recommendations and addressing the requirements of the Anti-Money Laundering Strategy And the financing of terrorism prepared by the Central Bank of Iraq as well as the legislation of the Anti-Money Laundering Law No. 39 of 2015 and the issuance of instructions and controls and the establishment of the Council against Money Laundering and

Financing of Terrorism as well as the Committee for the freezing of funds of terrorists, Monitoring and follow-up by FATF

###############

 

Iraq officially exits the FATF International Financial Control List

LINK

 

>>>>>>>>>>
Iraq emerges from FATF: How will it fight money laundering alone?

 

 

 

Messenger Ali

 

2018/7/1 07:22:46 PM 
The Central Bank announced the exit of Iraq from the follow-up to the International Financial Working Group FATF.

The FATF is an intergovernmental body charged with studying techniques and trends in money laundering and terrorist financing, and developing and developing anti-money laundering and terrorist financing policies locally and internationally .

"The decision was made by the AML / CFT Office to make significant progress in improving and addressing deficiencies and to meet all its obligations to FATF recommendations and to address the requirements of its AML / CFT strategy," the statement said .
He added that "the decision also came to the legislation of the Anti-Money Laundering Law No. 39 of 2015 and issuing instructions and controls and the establishment of the Anti-Money Laundering and Financing of Terrorism Council as well as the Committee on the freezing of terrorist funds."

Iraq announced last August the end of the second phase of Iraq's obligations to the reforms required within the second phase of the credit agreement with the International Monetary Fund.

Iraq has completed the first phase of the obligations of the September 2006 credit agreement, and according to the agreement, Iraq receives a loan of $ 5.3 billion.

"Iraq has been on the list of countries under the monitoring and follow-up by the International Financial Action Task Force since 2012," said Aseer Jabbar, spokesman for the central bank.

Jabbar added that "the exit of Iraq from the control of the International Financial Action Group is a great victory for the Iraqi financial sector, and because of Iraq under the burden of this organization, it caused the reluctance of many foreign investors, and the abuse of some international banks, and the exit of Iraq from the control of this organization there is space Great for investors in Iraq. "

"This decision means increasing international confidence in the performance of Iraq and its compliance with all standards, procedures and rules for transactions approved by banks and international organizations, especially on the issue of currency laundering," Hammam al-Shamma said.

"This trend will be positively reflected on Iraq by facilitating foreign remittances, which will be carried out without international supervision or the US Federal Reserve, so that remittances will arrive more quickly and facilitate the process of trade with the countries of the world," Shamma said in an interview with The News. That "Iraqi traders will feel the usefulness of this decision as well as commercial banks clearly during the coming period."

In 2015, Iraq approved the Anti-Money Laundering and Financing of Money Laundering Law. The most important paragraph was "to establish in the Central Bank of Iraq an office called the Anti-Money Laundering and Terrorism Financing Office at the level of a public department with moral personality and financial and administrative independence. At least an undergraduate degree, with experience and specialization, and has an effective service of not less than (15) fifteen years. "

The Bank is currently preparing and submitting an annual report to the Council on the activities of the Office and activities related to money laundering and terrorist financing, statistics on reporting reports and trends in combating money laundering and financing of terrorism and its mechanisms, methods and situations. The report is published as approved by the Council.

On August 7, 2015, the Finance Committee of the Iraqi Parliament issued a statement, including a report on the presentation of evidence documents to the Presidency of the Parliament on the involvement of private banks and exchange companies and the transfer of funds in the smuggling of funds outside Iraq, as well as areas controlled by the organization in the north and west Iraq during the period of the government of former Prime Minister Nuri al-Maliki.

In this regard, says the expert in monetary policy, Majid al-Suri that "the Central Bank of Iraq has taken all the necessary measures to combat money laundering applies to all banks," calling on banks to "establish the Anti-Money Laundering Unit in the same bank and monitor all laws related to the client, The Bank shall be the primary source of funds deposited therein. "

"The decision to exit Iraq from the follow-up to the International Financial Action Group means that the country is dealing with the issue of money laundering seriously, especially after the incident of the Islamic Bank of the country," he said, noting that "this will remain in the interest of Iraq and can be exploited politically To determine what. "

Over the past years, the Central Bank of Iraq has closed more than 300 exchange companies and withdrew the licenses of dozens of brokerage companies. The bank said that the decision came as a result of these companies serious violations of the instructions regulating the work of brokerage companies and buying foreign currency No. 8 of 2015 and the provisions of Central Bank Law No. 56 For the year 2004.

link

[DinarThug]

7-1-2018   Newshound/Intel Guru BGG   Article: 

"Iraq officially exits the FATF International Financial Control List"   ...

ONE STEP CLOSER!!

[DinarThug]

7-1-2018   Newshound Guru Kaperoni  [Who exactly is the FATF?] 

Financial Action Task Force. 

[Wikipedia: 

"...an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering.

In 2001 its mandate expanded to include terrorism financing.

It monitors progress in implementing the FATF Recommendations through "peer reviews"

("mutual evaluations") of member countries." 

[DinarThug]

7-1-2018   Newshound Guru Kaperoni   

More great news today from the Iraqi banking sector. CBI News. 

"Iraq is no longer subject to monitoring and follow-up by the FATF."  

This is a great example of what the IMF said about Iraq sending a positive message to the global banking system.

By meeting these requirements they are getting very close. 

Got to love it when the CBI keeps fulfilling compliance requirements.  

In my opinion the CBI is not only gathering significant confidence but they are gathering momentum signing agreements and meeting compliance.

I believe IMF Article VIII is coming very soon.  

I am not one to get overly excited but 

in this case I am one that believes that Iraq will continue pushing the banking system forward.

That is exactly what we want.

[10 YEARS LATER]

Nice One  - Thnx Thug 

[DinarThug]

7-1-2018   Intel Guru Delta   Article: 

"World Bank Representative in Iraq:

There is a great need to use and strengthen the financial resources of the Customs"  

Quote: 

"There are many reforms that must be made financially and electronically in order to link the border crossings..."    ...

VERY HUGE WOW ...

WE TALKED ABOUT THIS WHILE BACK LINKING BORDER CROSSING FOR CUSTOMS ELECTRONICALLY ...

WORLD BANK SAYING THAT IRAQ MUST MAKE FINANCIAL REFORMS MEANING ( CURRENCY REFORM) ..(Smile)

[DinarThug]

World Bank: The Central Bank has succeeded in enhancing confidence between banks and citizens

World Bank Representative in Iraq Yara Salem

01/07/2018

Economy News Baghdad

The World Bank announced on Sunday that the Central Bank has succeeded in enhancing confidence between banks and citizens, revealing the establishment of six projects in Iraq this year, worth 1.4 billion dollars, while at the same time announced the establishment of projects worth 4.6 billion dollars in the past years .

The World Bank representative in Iraq, Yara Salem, said in an interview with "Economy News", in cooperation with the Iraqi political and economic center, that "the World Bank has presented in Iraq this year six projects worth 1.4 billion dollars, but over the past years presented a total 4.6 billion dollars . "

"The World Bank has provided a large package of projects in Iraq are loans aimed at improving conditions in the liberated areas and the development of infrastructure such as schools, bridges and medical centers, while at the same time to develop the social aspects in those areas through the provision of soft loans to support small projects," pointing out that "the years Will see expansion in the projects, and different sectors including transport, education and health . "

"The economic reforms carried out by the government have positive effects in the long and near term and its reform program requires the imposition of some customs duties to strengthen its financial resources to complete investment operations in the liberated areas. This is normal for a country that seeks to maximize its economic resources," she said. That "the taxes were developed in accordance with financial policies and standards rational and in a way that serves all segments of society, especially the extremely poor ."

The representative of the World Bank in Iraq, confirmed that "the Iraqi government is moving towards reducing its debt below the 60% of GDP, the limit reached by the index of public debt in relation to gross output," believing that "the government's ability to pay many of these debts, especially in light of the rise Global oil prices ".

"The World Bank is assisting the Iraqi government to develop the banking sector through reform proposals, restructuring and reform of the governance system in order to optimize the use of existing resources in banks and increase citizens ' awareness of banking, " she said.

She stressed that "the central bank is working hard to put in place many measures that will enhance confidence between the citizen and the banking sector, but it is an effort that requires continuous work .

Yara Salem called on the Iraqi government to reduce reliance on the government sector to recruit graduates and encourage employment in the private sector and increase employment opportunities by creating an appropriate business environment that contributes to building the economic process .

She added that "the Council of Ministers will hold future meetings with representatives of the private sector and the public, in order to improve the standards that should be used to standardize tariffs between all border crossings and the use of technology to ensure transparency in dealing."

link

 

Edited July 2, 2018 by DinarThug

[DinarThug]

Oil announces the preliminary figures for the quantities exported from crude oil for the month of June

01/07/2018

Economy News Baghdad

The Ministry of Oil announced on Sunday the arrival of oil exports during the month of June to more than (105) million barrels.

The ministry spokesman, Assem Jihad, said that "the rate of exports and revenues achieved for the month of June, according to preliminary statistics issued by the Iraqi oil marketing company" Sumo ", amounted to more than 105.6 million barrels," noting that "revenues amounted to more than 7 , 3 billion dollars. "

He added that "the daily rate of exports amounted to 3.5 million barrels," noting that "the average price per barrel amounted to 69,322 dollars.

lin

[DinarThug]

https://cbi.iq/news/view/749

Request Quotatations

 

 

2nd July, 2018

 

All
Banking Control Department / Commercial Banks Control Section
5
/) Date: 7 required
NO: Date:
To the auditors
What he asked for quotations Greetings ... Followed by our censored number 10
/ 2/9 in 2018
/ 1/4. Some comments were made about the meaning of (bank customers) in our above faiths and would like to show that the request for quotations is related to the purchases of your customers from the window of sale and purchase of foreign currency
Through the banks) where your customers direct your books to the Department of Financial Operations and Debt Management window selling and buying foreign currency to be able to provide you with the amounts of purchases achieved for them for the years under audit, but if they do not have purchases in this way you will get a written commitment and this pledge is one of the paragraphs of the book of representation signed by Your customers.

 

Edited July 2, 2018 by DinarThug

[DinarThug]

LINK

Al-Hadithi denies the existence of a team to follow the money of Iraqi figures in power

 

 

2nd July, 2018

Prime Minister Haider al-Abadi's office revealed on Monday (July 2, 2018) the presence of an international team of experts in the capital Baghdad to trace the money of "pro" figures to Iran.

"There are resolutions issued by the Security Council with regard to the fight against terrorism and the prosecution of its sources of funding, and Iraq is committed to these decisions," said spokesman Saad al-Hadithi. "There is no special team to follow the money of Iraqi figures in power."

He added that "there is cooperation between the Iraqi government and the United Nations, in accordance with the Security Council resolutions on the prosecution of sources and sources of financing terrorism and terrorists," noting that "these decisions include all countries and not only Iraq, and is binding on all States to cooperate and coordination to provide information, To pursue the funding and sources of terrorist groups. "

[DinarThug]

Willy Warka And A Band Of Angry Oompa Loompa’s Spotted Leading The Demonstration !  

 

 

Oompa Loompa Dupity Do - I Have Got Another Worthless Investment For U ...

 

     

 

 

LINK

Citizens demonstrate in front of Warka Bank in protest against non-disbursement of their deposited funds

 

 

2nd July, 2018

Dozens of citizens, Monday, in front of Warka Bank in central Baghdad, a protest against the non-disbursement of funds deposited. 

A reporter / Mawazin News / that "dozens of citizens went out, this morning, in front of Warka Bank, central Baghdad, in protest against the non-disbursement of funds deposited."  "The demonstrators raised banners and chanted slogans with their demands," adding that they "will step up their steps in the event of failure to respond to them." 

Earlier, citizens demonstrated in front of the Central Bank building on Al-Rasheed Street to claim their money deposited in the Warka bank for 8 years after their inability to appeal.

[DinarThug]

7-2-2018   Newshound/Intel BGG   Article: 

"Iraq: 20 Lawmakers to Be Arrested as Parliament Term Ends"   

I’m a little curious to see if there is any specific sectarian break-down on this round of prosecutions.

Not that it really makes a direct impact on the overall investment – I’m just curious. 

It also looks like, to me, the political climate is getting better and better. Progress.  

Anyone telling you the political climate isn’t important simply isn’t paying attention. 

The things we are seeing unfold right now are pretty good for the overall welfare of this investment and Iraq in general.

[DinarThug]

LINK

Dozens of deputies leave Iraq, "Wei Wei" after lifting immunity from them .. Where were their destinations

 

 

2nd July, 2018

Iraqi MPs and witnesses said Monday that a number of parliamentarians, whose term of office was out of Iraq, had won tickets after the lifting of their immunity and the fear of legal accountability. 

An official at Baghdad International Airport, according to the newspaper, "the new Arab," that "last week saw the travel of about 45 deputies from different blocs, and paid only tickets without return." 

He pointed out that "the deputies traveled to different countries, including Iran, Turkey, Egypt and other countries, some of them preceded by their families," saying: "the absence of any right to travel MPs." 

The second deputy speaker of the House of Representatives, Aram Sheikh Mohammed, announced on Saturday (June 30, 2018), the end of the work of the House of Representatives in its third session.

[King Bean]

On ‎6‎/‎27‎/‎2018 at 7:34 AM, DinarThug said:

6-26-2018 GURU WALKINGSTICK:   PCC ( Partial convertible currency ) 

 

        Frank and Walkingstick load up the "partial convertible" with their "bull" and head for the

       4th of July Parade, with Delta in the trunk. Hit those seats with some ArmorAll, Frank. 

[DinarThug]

Yo KB - Frank Always Goes The Extra Mile To Deliver His ‘Intel’ Straight From The Source !  

 

 

     

 

 

 

 

LINK

As they call the political blocs to form an Iraqi government fighting corrupt

 

 

2nd July, 2018

Called the coalition of Sawson, on Monday, the political blocs to form an Iraqi government fighting corrupt, while referring to the need to initiate the fight against senior heads of corruption, whatever their size. 

"The questions posed by the leader of the Sadrist movement, Moqtada al-Sadr, about the trial of the corrupt and the importance of the decision to be an Iraqi, not Eastern or Western, In the building of the country, but are the questions of the stage from which the political blocs can mature political program ambitious to build the state.

Al-Jubouri added that "the continuing calls for Sadr to form an Iraqi government, not Eastern or Western, fighting the corrupt, but the responsibility of the government and all political forces," adding that "the next stage requires everyone to rise to the level of challenges, and perhaps the most important challenge facing everyone is how to build state institutions On sound foundations free from corruption. " 

He pointed out "the need to start combating the heads of corruption, whatever their size, in addition to the independence of the Iraqi decision and attention to production so that we accumulate inputs to establish a strong currency with the importance of giving young people the role they deserve." 

He pointed out that "the current political movement stems from the predominance of partisan, sectarian and ethnic interests to the supreme national interests, which is what everyone should be aware of if we want to work in the right direction," calling on political blocs to "form an Iraqi government fighting the corrupt."

[King Bean]

1 hour ago, DinarThug said:

Dozens of deputies leave Iraq, "Wei Wei" after lifting immunity from them

 

So these fools are gone, but confusion still reigns. Are they going to the restroom,

                                          or headed to France ?? 

                                  

 

                            

                                     '....read it a couple times fast. You'll get it ! '

[DinarThug]

Ah Yes KB, It’s America’s Favorite Pastime - Hating The Phrickin’ Phrench !  

 

 

And Yesterday President Davis Along With All Of His Constituents Celebrated Canada Day By Performing Their All Time Favorite Pastime - Hating The Phrench Canadians ...

 

     

[DinarThug]

LINK

US State Department: We will not hesitate to impose further sanctions on Iran and isolate it internationally

 

2nd July, 2018

The US State Department said Monday it would not hesitate to impose more sanctions on Iran and isolate it internationally. 

"The sanctions against Iran are not aimed at food and medicine, but the actions of the regime," the ministry said, stressing that "we will not hesitate to impose further sanctions on Iran and isolate it internationally."

Over the past few months, the United States has imposed many sanctions on Iran. 

Trump had announced the withdrawal of his country from the nuclear agreement concluded by the major powers with Iran in 2015, pointing out that the agreement does not prevent Iran's destabilizing activity in the region.

[DinarThug]

7-2-2018   Newshound Guru Kaperoni    

Just was reading the latest Regional Economic Outlook from the IMF which came out today...

"However, in Iran and Iraq,

banking systems continue to face numerous challenges,

which will be the focus of reforms expected to be implemented this year."   

Don't know about Iran's banking system as it seems to be going backwards at this point due to the sanctions 

but Iraq is making positive strides especially with the recent articles from the weekend.

[King Bean]

7 hours ago, DinarThug said:

The US State Department said Monday it would not hesitate to impose more sanctions on Iran and isolate it internationally. 

 

    +          +    

 

 

                                                                                            ...just in case they can't read Trump's memo. LOL. 

 

[DinarThug]

7-2-2018   Newshound Guru Kaperoni   A good article today...

sounds like Sadr is calling for currency reform.

[ChuckFinley]

Sounds good to me too.  

[Artitech]

Red Bull & Vodka for me, please! 

[DinarThug]

 

 

 

 

 

55 minutes ago, Artitech said:

Red Bull & Vodka for me, please! 

 

Randalln Would Be Proud !

 

 (long time obscure old timer dv reference - just drink and go with it)  

 

     

 

Edited July 7, 2018 by DinarThug

[DinarThug]

7-5-2018 Newshound Guru Breitling …

The price per barrel right now is like $75 so Iraq doesn’t need to revalue.

They simply don’t…that’s how they make their money. 

90% of their economy is selling oil and right now they’re kicking butt…

The oil prices are going to come down.

We have 3 things…we opened up the places we can explore for oil.

We have our reserves.

And we have Saudi Arabia and Russia to make sure they’re producing more oil…

And that’s what it means for Iraq…

Once that oil price goes down…for the Iraqi dinar it means everything…

Right now we’re watching the market and the market is going to react and it is OPEC,

it’s Saudi Arabia, it’s Russia,

it’s Trump and his policies... And that’s it.