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the Central Bank calls for companies to mediate to merge and identify a number of points

 

The Central Bank calls on companies to mediate to merge and sets a set of points

 

 

 

 Twilight News    

 39 minutes ago

 

The Central Bank of Iraq called on companies to broker the sale and purchase of foreign currencies to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended. 
The bank said in a statement that in light of its goal of achieving financial and banking stability and creating a competitive work environment, it calls on companies wishing to merge to form a single banking institution based on the amended Companies Law No. (21) of 1997, indicating that this process will create a strong The possibility of providing these institutions with rapid growth and that the formation of a larger entity covers services more broadly commensurate with the size of the merged institution and thus access to financial services broader by the Central Bank commensurate with the size. 
He explained that the merged companies will be classified according to the request submitted by them and will depend on the granting of privileges according to the merged category and as follows:
(A): A group of at least (10) companies in this category shall be incorporated and shall constitute a total capital of not less than (5,000,000,000) JD with the capital of each company before the merger (500,000.000) JD. On special privileges according to their size:

1. The name of the institution that will result in the merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currencies within its activity as one of the privileges that you will enjoy.

2 - Enter the institution to the window of foreign currency and according to the amount of the weekly quota, which will be allocated according to the size of its capital.

3 - Allow them to carry out foreign remittances by contracting with one of the international transfer companies (Western Union, MoneyCram, Express Money, etc.) and give them a secondary agency.

4 - opening branches and not exceeding the number of (3) branches.

5 - Allow the work of internal cash transfers exclusively and does not exceed the capital and reserves in one working day.

6 - Allow the receipt of the agency (outlet) of the payment service providers authorized by this bank.

7 - the possibility of marketing for electronic payment cards approved through an agency from a bank or electronic payment companies approved by this bank.

8- Possibility of offering the company shares in the secondary market (stock market) after meeting the requirements of listing in the market after approval by the Ministry of Commerce / Registrar of Companies and Stock Exchange.

9 - To provide a letter of guarantee (20%) of the total capital and reserves for the bank, and the percentage is increasing by (2%) in accordance with financial services to be added in future in order to maintain its commitment to the requirements of leave granted to them.

10. The possibility of adding other services in the future in line with the activity of the exchange companies, which is compatible with the financial services provided by non-bank financial institutions globally.

11- The company sets up a globally approved electronic system to combat money laundering and terrorist financing.

12- The company will add (compliance, money laundering, risk management, financial awareness) to one or two employees for each division to inform the company of the requirements of this bank for combating money laundering and the financing of terrorism and its risk management and awareness of these companies and their importance in the economy and how to meet the needs Financial citizens.

12. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company.

(B): A minimum number of (5) companies in category (B) shall be merged, which shall constitute a total capital of not less than (2.500.000.000) JD with a capital of JD (500.000.000) for each company. This merged institution has the following privileges:

1. The name of the institution that will result in the merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currency within its activity as one of the privileges that you will enjoy.

2 - Enter the company to the window of foreign currency and according to the amount of the share to be allocated in accordance with the size of its capital.

3 - Allow the receipt of the agency (port) of the payment service providers authorized by this bank.

4 - Allow them to transfer the internal cash only and the limits of the ceiling of cash does not exceed the capital and reserves in one working day.

5. To provide the letter of guarantee (40%) of its capital and reserves in favor of this bank in order to maintain its commitment to the requirements of the vacation granted to it.

6. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company.

7. The company establishes a global electronic system to combat money laundering and terrorist financing.

Category (C): This category will be granted to companies that do not wish to merge, which have not been granted any privileges as granted to the two categories above, except for the actions described below:

1. Preserving the designation of this group by brokerage companies for the sale and purchase of foreign currencies, which allow them to mediate and transfer only the internal.

2- The letter of guarantee shall be fixed at the limit of 80% of its capital due to the fixed value of its capital.

3 - not to allow them to enter the window of sale and purchase of foreign currency.

Note that the transfer of the rights and obligations of all integrated companies to the merged company or resulting from the merger is based on the provisions of Article (152) of the Companies Law No. (21) for the year 1997 amended and 
the Central Bank gave the brokerage companies 30 working days to provide them with their requests and proposals on this process .

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http://www.shafaaq.com/ar/Ar_NewsReader/99f1f85a-ef50-4689-9e5c-d5d180a43290

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  • yota691 changed the title to CBI News 10/16/2018
 
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 Banks


Economy News _ Baghdad

The Central Bank of Iraq, on Tuesday, called on companies to broker the sale and purchase of foreign currencies to merge to form a single banking institution.

The bank said in a statement that it "calls on companies wishing to merge to form a single banking institution based on the Companies Law No. (21) for the year 1997 amended," noting that "the objective is to achieve financial and banking stability and create a working environment Competitive. "

"The formation of a larger entity covers wider services commensurate with the large size of the merged institution and thus obtaining greater financial services by the Central Bank commensurate with its size," the bank said. "This process will create strength for the merged institution, .

The bank said that "the merger will be in accordance with two categories, including A, which requires that the merger is not less than 10 companies, which will form a capital of not less than 5 billion dinars," pointing out that "this category will get a name exchange company instead of mediation and will enter the activity of mediation in the sale and purchase of currencies Foreign activities within one of the privileges that will be enjoyed, in addition to allowing them to carry out foreign remittances, as well as the opening of branches do not exceed 3 branches.

The bank said that "the second category, which is called B, where the integration of the number of not less than 5 companies, which will form a capital of not less than 2 billion and 500 million dinars and 500 million dinars each company," pointing out that "these companies will be granted privileges include naming The institution that will result in a merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currencies within its activity as one of the privileges that will enjoy.

He pointed out that the third category includes category C, where this category will be granted to companies that do not wish to merge, which have not been granted any privileges as granted to the two categories above, except for the actions shown to keep the name of this group of companies mediating the sale and purchase of foreign currencies, which allows them to mediate and internal transfer only " .


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The Central Bank calls on companies to mediate integration

Readers

 

 

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The Central Bank calls on companies to mediate integration

 

16-10-2018 02:14 PM

 

The Euphrates -


Called the Central Bank of Iraq companies to mediate the sale and purchase of foreign currency to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended.

The bank said in a statement that in light of the central bank's goal of achieving financial and banking stability and creating a competitive work environment, the bank calls on companies wishing to merge to form a single banking institution based on the amended Companies Law No. 21 of 1997, As well as the possibility of providing these institutions with rapid growth, and that the formation of a larger entity covers services that are more commensurate with the large size of the merged institution and thus access to the broader financial services by the Central Bank commensurate with its size. 

The merged companies will be classified according to the request submitted by them. The granting of concessions will be based on the merged category and according to what comes 

(A): A group of at least (10) companies in this category shall be incorporated and shall constitute a total capital of not less than (5,000,000,000) JD with the capital of each company before the merger (500,000.000) JD. On special privileges according to their size: 

1. The name of the institution that will result in the merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currencies within its activity as one of the privileges that you will enjoy. 

2 - Enter the institution to the window of foreign currency and according to the amount of the weekly quota, which will be allocated according to the size of its capital. 

3 - Allow them to carry out foreign remittances by contracting with one of the international transfer companies (Western Union, MoneyCram, Express Money, etc.) and give them a secondary agency. 

4 - opening branches and not exceeding the number of (3) branches. 

5 - Allow the work of internal cash transfers exclusively and does not exceed the capital and reserves in one working day. 

6 - Allow the receipt of the agency (outlet) of the payment service providers authorized by this bank. 

7 - the possibility of marketing for electronic payment cards approved through an agency from a bank or electronic payment companies approved by this bank. 

8- Possibility of offering the company shares in the secondary market (stock market) after meeting the requirements of listing in the market after approval by the Ministry of Commerce / Registrar of Companies and Stock Exchange. 

9 - To provide a letter of guarantee (20%) of the total capital and reserves for the bank, and the percentage is increasing by (2%) in accordance with financial services to be added in future in order to maintain its commitment to the requirements of leave granted to them. 

10. The possibility of adding other services in the future in line with the activity of the exchange companies, which is compatible with the financial services provided by non-bank financial institutions globally. 

11- The company sets up a globally approved electronic system to combat money laundering and terrorist financing. 

12- The company will add (compliance, money laundering, risk management, financial awareness) to one or two employees for each division to inform the company of the requirements of this bank for combating money laundering and the financing of terrorism and its risk management and awareness of these companies and their importance in the economy and how to meet the needs Financial citizens. 

12. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company. 

(B): A minimum number of (5) companies in category (B) shall be merged, which shall constitute a total capital of not less than (2.500.000.000) JD with a capital of JD (500.000.000) for each company. This merged institution has the following privileges: 

1. The name of the institution that will result in the merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currency within its activity as one of the privileges that you will enjoy. 

2 - Enter the company to the window of foreign currency and according to the amount of the share to be allocated in accordance with the size of its capital. 

3 - Allow the receipt of the agency (port) of the payment service providers authorized by this bank. 

4 - Allow them to transfer the internal cash only and the limits of the ceiling of cash does not exceed the capital and reserves in one working day. 

5. To provide the letter of guarantee (40%) of its capital and reserves in favor of this bank in order to maintain its commitment to the requirements of the vacation granted to it. 

6. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company. 

7. The company establishes a global electronic system to combat money laundering and terrorist financing. 

Category (C): This category will be granted to companies that do not wish to merge, which have not been granted any privileges as granted to the two categories above, except for the actions described below: 

1. Preserving the designation of this group by brokerage companies for the sale and purchase of foreign currencies, which allow them to mediate and transfer only the internal. 

2- The letter of guarantee shall be fixed at the limit of 80% of its capital due to the fixed value of its capital. 

3 - not to allow them to enter the window of sale and purchase of foreign currency. 

Note that the transfer of rights and obligations of all integrated companies to the merged company or resulting from the merger is based on the provisions of Article (152) of the Companies Law No. (21) for the year 1997 amended 

The Central Bank gave the companies 30 days of work to provide them with their requests and proposals on this process.

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The Central Bank calls on companies to mediate integration

01:47 - 16/10/2018

 
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BAGHDAD - 
The Central Bank of Iraq invited companies to broker the sale and purchase of foreign currencies to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended. 
"In line with its goal of achieving financial and banking stability and creating a competitive work environment, it calls on companies wishing to merge to form a single banking institution based on the amended Companies Law No. (21) of 1997," the bank said in a statement. He pointed out that this process will create strength for the merged institution, failing to provide these institutions with rapid growth, and that the formation of a larger entity covers more services commensurate with the large size of the merged institution and thus access to more financial services by the Central Bank commensurate with its size.
He added that "the merged companies will be classified according to the request submitted by them. The granting of the concessions will be based on the merged category and as follows: 
First Class A: A minimum number of (10) companies are included in this category which will constitute a total capital of at least (5,000,000,000) dinars, the capital of each company before the merger (500,000.000) dinars, and this category will get special privileges according to size: 
1 - naming the institution that will result in the merger (exchange company) and not mediated where the intervention activity will enter the sale foreign currency buying within its activity as one of the privileges that will enjoy. 
2. Log in To the foreign currency window and according to the amount of the weekly quota to be allocated according to the size of its capital.
3 - Allow them to carry out foreign remittances by contracting with one of the international transfer companies (Western Union, MoneyCram, Express Money, etc.) and give them a secondary agency. 
4 - opening branches and not exceeding the number of (3) branches. 
5 - Allow the work of internal cash transfers exclusively and does not exceed the capital and reserves in one working day. 
6 - Allow the receipt of the agency (outlet) of the payment service providers authorized by this bank. 
7 - the possibility of marketing for electronic payment cards approved through an agency from a bank or electronic payment companies approved by this bank. 
8- Possibility of offering the company shares in the secondary market (stock market) after meeting the requirements of listing in the market after approval by the Ministry of Commerce / Registrar of Companies and Stock Exchange.
9 - To provide a letter of guarantee (20%) of the total capital and reserves for the bank, and the percentage is increasing by (2%) in accordance with financial services to be added in future in order to maintain its commitment to the requirements of leave granted to them. 
10. The possibility of adding other services in the future in line with the activity of the exchange companies, which is compatible with the financial services provided by non-bank financial institutions globally. 
11- The company sets up a globally approved electronic system to combat money laundering and terrorist financing. 
12- The company will add (compliance, money laundering, risk management, financial awareness) to one or two employees for each division to inform the company of the requirements of this bank for combating money laundering and the financing of terrorism and its risk management and awareness of these companies and their importance in the economy and how to meet the needs Financial citizens.
12. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company. 
(B): A minimum number of (5) companies in category (B) shall be merged, which shall constitute a total capital of not less than (2.500.000.000) JD with a capital of JD (500.000.000) for each company. This institution is merged with the following privileges: 
1. Name the institution that will result in the merger (a money exchange company) and not mediating where the intervention activity will enter into the sale and purchase of foreign currencies within its activity as one of the privileges that will enjoy. 
2 - Enter the company to the window of foreign currency and according to the amount of the share to be allocated in accordance with the size of its capital. 
3 - Allow the receipt of the agency (port) of the payment service providers authorized by this bank.
4 - Allow them to transfer the internal cash only and the limits of the ceiling of cash does not exceed the capital and reserves in one working day. 
5. To provide the letter of guarantee (40%) of its capital and reserves in favor of this bank in order to maintain its commitment to the requirements of the vacation granted to it. 
6. Establish an accounting system for the activity of these companies and be able to issue reports covering the activities of the company. 
7. The company establishes a global electronic system to combat money laundering and terrorist financing. 

Third: Category (C): This category will be granted to companies that do not wish to merge, which have not been granted any privileges as granted to the two categories above, except for the following works: 
1 - Preserving the designation of this group with brokerage companies to sell and buy foreign currencies, Only.
2- The letter of guarantee shall be fixed at the limit of 80% of its capital due to the fixed value of its capital. 
3 - not to allow them to enter the window of sale and purchase of foreign currency. 
Note that the transfer of the rights and obligations of all integrated companies to the merged company or resulting from the merger is based on the provisions of Article (152) of the Companies Law No. (21) for the year 1997 amended and 
the Central Bank gave the brokerage companies 30 working days to provide them with their requests and proposals on this process 29 / p

 
 
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3 hours ago, yota691 said:

The Central Bank of Iraq invited companies to broker the sale and purchase of foreign currencies to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended. 
"In line with its goal of achieving financial and banking stability and creating a competitive work environment, it calls on companies wishing to merge to form a single banking institution based on the amended Companies Law No. (21) of 1997," the bank said in a statement. He pointed out that this process will create strength for the merged institution, failing to provide these institutions with rapid growth, and that the formation of a larger entity covers more services commensurate with the large size of the merged institution and thus access to more financial services by the Central Bank commensurate with its size.

 

Kinda looks like they plan to do more business as usual with "the broker the sale and purchase of foreign currencies" but with an  apparent single entity. This would appear to be a better way to deal with Anti Money Laundering and Combat Funding Terrorism (AML/CFT). The Year 1997 sticks out with me and seems to be a throw back to the Saddam Hussein "Oil For Food" era.

 

Seems odd for there to be news like this if going to an "open economy" with an internationally traded Bicraqi Iraqi Dinar where the weekday CBI daily currency auctions using these brokerage companies for the sale and purchase of foreign currencies would be stopped.

 

Possibly, there will be continuing functions for the broker the sale and purchase of foreign currencies due to the ReInstated or ReValued Bicraqi Iraqi Dinar due to foreign exchanges where the Bicraqi Iraqi Dinar is repatriated back to Iraq? But why reference the "Oil For Food" era practices? Seems like there would be better international banking approaches and tools since 1997 especially since the ultra modern banking systems have been installed in Iraq post 2003 until now but maybe the framework of the 1997 Companies Law 21 with amendment(s) is iron clad enough for their purposes.

 

Maybe this is all really a part of the plan but seems odd.

 

3 hours ago, yota691 said:

the Central Bank gave the brokerage companies 30 working days to provide them with their requests and proposals on this process

 

So, 30 WORKING days. I wonder if this includes the days they intend to show up for work ONLY???!!!

 

The earliest is 5 working days per week so this would be six weeks. Today is October 16. So six weeks would put this at Tuesday, November 27. After that, they still would have to review the requests and proposals. So, no telling how long after November 27, or sometime after if holidays are included, it will take for the CBI to give these companies the necessary authorization to implement their requests and proposals on this process.

 

What may be working in the favor of expediency is the ultra modern banking systems in place in Iraq that everything is transitioning to so the brokerage companies may already have the capability of using these processes and they are in use today. Also, there is likely an indication of the practices of these brokerage companies today so the corrupt ones are already known and are being weeded out.

 

I suspect there will be a major transition on the weekday CBI daily currency auctions up to and through the November 4 sanctions to hit Iran to dry up any foreign currency streams for Iran.

 

For example. Say the foreign currency auctions averaged 200 million USD per week day for 5 days per week for 52 weeks per year for 15 years. This would be:

 

200 x 5 = 1 billion USD per week or 52 billion USD per year totalling 780 billion USD for 15 years.

 

The recent figure of corruption through the weekday CBI daily currency auctions is 380 billion USD that is nominally one half of the estimated 780 billion USD passing through the CBI.

 

So, how much of the 380 billion USD through the CBI was funneled directly to the Insanian Terrorist Corruption Machine???!!! Wouldn't Ole Donald want to crimp this off entirely leading up to November 4 and certainly SHORTLY thereafter???!!!

 

So, I am thinking there are actually two tracks. One track is this establishment of the the singular brokerage for the sale and purchase of foreign currencies. The other track is to crimp off the weekday CBI daily currency auctions in the "closed economy" to fund the Insanian Terrorist Machine with, in my estimation, going to an "open economy" with an internationally traded Bicraqi Iraqi Dinar.

 

Just my conjecture (only), thoughts, opinion, and :twocents: fro whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! :o

 

In The Mean Time......................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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15 hours ago, Synopsis said:

 

Kinda looks like they plan to do more business as usual with "the broker the sale and purchase of foreign currencies" but with an  apparent single entity. This would appear to be a better way to deal with Anti Money Laundering and Combat Funding Terrorism (AML/CFT). The Year 1997 sticks out with me and seems to be a throw back to the Saddam Hussein "Oil For Food" era.

 

Seems odd for there to be news like this if going to an "open economy" with an internationally traded Bicraqi Iraqi Dinar where the weekday CBI daily currency auctions using these brokerage companies for the sale and purchase of foreign currencies would be stopped.

 

Possibly, there will be continuing functions for the broker the sale and purchase of foreign currencies due to the ReInstated or ReValued Bicraqi Iraqi Dinar due to foreign exchanges where the Bicraqi Iraqi Dinar is repatriated back to Iraq? But why reference the "Oil For Food" era practices? Seems like there would be better international banking approaches and tools since 1997 especially since the ultra modern banking systems have been installed in Iraq post 2003 until now but maybe the framework of the 1997 Companies Law 21 with amendment(s) is iron clad enough for their purposes.

 

Maybe this is all really a part of the plan but seems odd.

 

 

So, 30 WORKING days. I wonder if this includes the days they intend to show up for work ONLY???!!!

 

The earliest is 5 working days per week so this would be six weeks. Today is October 16. So six weeks would put this at Tuesday, November 27. After that, they still would have to review the requests and proposals. So, no telling how long after November 27, or sometime after if holidays are included, it will take for the CBI to give these companies the necessary authorization to implement their requests and proposals on this process.

 

What may be working in the favor of expediency is the ultra modern banking systems in place in Iraq that everything is transitioning to so the brokerage companies may already have the capability of using these processes and they are in use today. Also, there is likely an indication of the practices of these brokerage companies today so the corrupt ones are already known and are being weeded out.

 

I suspect there will be a major transition on the weekday CBI daily currency auctions up to and through the November 4 sanctions to hit Iran to dry up any foreign currency streams for Iran.

 

For example. Say the foreign currency auctions averaged 200 million USD per week day for 5 days per week for 52 weeks per year for 15 years. This would be:

 

200 x 5 = 1 billion USD per week or 52 billion USD per year totalling 780 billion USD for 15 years.

 

The recent figure of corruption through the weekday CBI daily currency auctions is 380 billion USD that is nominally one half of the estimated 780 billion USD passing through the CBI.

 

So, how much of the 380 billion USD through the CBI was funneled directly to the Insanian Terrorist Corruption Machine???!!! Wouldn't Ole Donald want to crimp this off entirely leading up to November 4 and certainly SHORTLY thereafter???!!!

 

So, I am thinking there are actually two tracks. One track is this establishment of the the singular brokerage for the sale and purchase of foreign currencies. The other track is to crimp off the weekday CBI daily currency auctions in the "closed economy" to fund the Insanian Terrorist Machine with, in my estimation, going to an "open economy" with an internationally traded Bicraqi Iraqi Dinar.

 

Just my conjecture (only), thoughts, opinion, and :twocents: fro whatever THAT is worth!!! CAVEAT EMPTOR, Reader!!! :o

 

In The Mean Time......................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

So, what your saying is business as usual, just a different way of doing it? No RV any time soon? I value your opinion and reasoning for this investment! I m not the sharpest tack in the box, when reading all this Mumbo jumbo! Thanks for your time in explaining!

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7 hours ago, Artitech said:

So, what your saying is business as usual, just a different way of doing it? No RV any time soon? I value your opinion and reasoning for this investment! I m not the sharpest tack in the box, when reading all this Mumbo jumbo! Thanks for your time in explaining!

 

Mumbo Jumbo For Sure, Artitech, AND The Best Of The Rest Of Your Week AND Up Coming Weekend To You!!! :tiphat:

 

It would appear business as usual, just a differ way of doing it. BUT, the article could indicate the further implementation of AML/CFT. For what reason? One outcome could be the post event (ReInstatement or ReValue) repurposing of this existing function for post event needs regarding currency exchanges without corruption as a source of revenue for the Insanians. If this was for AML/CFT purposes only, why hadn't this been implemented earlier? What is the rush NOW?

 

I suspect the November 4 Insanian sanctions will have additional bite whereas ALL the sources of Insanian income will need to be cut off.

 

For example, if the Insanians export 2 million barrels per day of crude oil, their yearly income would be (at $70/barrel):

 

2 x 70 = 140 million per day = 51.1 billion USD per year.

 

IF the Insanians were getting one half of the Bicraqi Iraqi weekday CBI daily currency auction money, they would be getting 26 billion USD per year or about one half of the current Insanian crude oil revenues.

 

There are likely other sources of Insanian revenues such as foreign trade. For example, the foreign trade with the Bicraqi Iraqi is about 7 billion USD per year.

 

So, for The United States Of America sanctions on the Insanians to REALLY BITE, the crude oil revenues, the Bicraqi Iraqi CBI daily currency auctions, and foreign trade would have to be crimped off nearly entirely.

 

In my uneducated assessment, I think the Bicraqi Iraqi weekday CBI daily currency auctions HAVE TO CHANGE to crimp off a major source of the Insanian revenues to fund their Insanian Terrorist Machine and this article is indicating a post event environment. To end the Bicraqi Iraqi weekday CBI daily currency auctions ("closed economy"), the Bicraqi Iraqi will need to go to an "open economy" with real time international financial transactions with a real value Bicraqi Iraqi Dinar.

 

If any of this has any substance whatsoever, I suspect that any time after the Bicraqi Iraqi GOI is announced to be in place until on or about nominally Monday, January 7, 2019 is when the Bicraqi Iraqi Dinar could see some movement. Monday, January 7, 2019 (likely when international people are regularly back at their jobs) is the first full week of the New Year after Tuesday, January 1, 2019 when the Bicraqi Iraqi fiscal year starts.

 

Just my conjecture, thoughts, opinion and :twocents: for whatever THAT is worth!!! Hey, I might be a nut job or somethin'!!! CAVEAT EMPTOR, Reader!!! :o

 

DISCLAIMER: THIS IS A SPECULATIVE OPINION PIECE ONLY AND IS NOT INVESTMENT ADVICE OF ANY SORT. THE OPINION PROVIDER MAY BE WAY OUT THERE OR SOMETHIN'!!! :o

 

In The Mean Time..........................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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Saturday, October 20,
 
 
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Alsumaria News / Baghdad
The service institution of exchange companies called on all companies to broker the sale of foreign exchange certificates to attend the preparatory forum held today at the Babylon Hotel , indicating that the forum will discuss and put forward views and proposals on the invitation of the Central Bank to merge brokerage companies. 

The Foundation said in a statement received by Alsumaria News a copy of it, "In order to support the exchange rate of the Iraqi dinar and towards financial stability and reduce the chances of transfer of risk in providing the best services and financial instruments, the service establishment of exchange companies to attend the preparatory and preparatory forum on 20 - Babylon Hotel Enlil Hall at 2 pm to discuss and put forward views and proposals on the call of the Central Bank in his book No. 9/5/361 dated 15/10-2018 calling for the merger of companies mediating the sale and purchase of foreign currencies.

 

 


The Foundation called on all brokerage companies to "attend this forum, which includes a set of proposals and alternatives aimed at raising the level of knowledge and responsibility to make the appropriate decision on integration and its impact in favor of this financial sector and to protect citizens in the visions of the future of services and developments in the markets."

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The service institution of exchange companies will hold a preparatory forum to discuss the merger of banking companies
 
Saturday, October 20,



NB-250442-636756206885500679.jpg

The service institution of exchange companies called on all companies to broker the sale of foreign exchange certificates to attend the preparatory forum held today at the Babylon Hotel , indicating that the forum will discuss and put forward views and proposals on the invitation of the Central Bank to merge brokerage companies. 

The Foundation said in a statement received by Alsumaria News a copy of it, "In order to support the exchange rate of the Iraqi dinar and towards financial stability and reduce the chances of transfer of risk in providing the best services and financial instruments, the service establishment of exchange companies to attend the preparatory and preparatory forum on 20 - Babylon Hotel Enlil Hall at 2 pm to discuss and put forward views and proposals on the call of the Central Bank in his book No. 9/5/361 dated 15/10-2018 calling for the merger of companies mediating the sale and purchase of foreign currencies.

The Foundation called on all brokerage companies to "attend this forum, which includes a set of proposals and alternatives aimed at raising the level of knowledge and responsibility to make the appropriate decision on integration and its impact in favor of this financial sector and to protect citizens in the visions of the future of services and developments in the markets."




https://www.alsumaria.tv/news/250442/%D8%A7%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D9%8A%D8%A9-%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%B1%D8%A7%D9%81%D8%A9-%D8%AA%D8%B9%D9%82%D8%AF-%D9%85%D9%84%D8%AA%D9%82%D9%89-%D8%AA%D8%AD%D8%B6%D9%8A%D8%B1%D9%8A%D8%A7/ar

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Exchange companies reject a decision of the Central Bank of Iraq

Exchange companies reject a decision of the Central Bank of Iraq
 



 Twilight News    
 38 minutes ago

Shafaq News / The service institution of exchange companies held on Saturday a seminar on the decision of the Central Bank of Iraq to merge the money exchange companies.

The seminar was held this evening at a hall in the Babylon Hotel in the center of the capital Baghdad, with the participation of specialists in the financial and economic and owners of exchange companies.

The owners of exchange companies during the symposium rejected the decision of the Central Bank to merge 10 companies in one company for the purpose of controlling the work of these companies and control.

The Central Bank of Iraq has called mid-October companies to mediate the sale and purchase of foreign currency to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended.

 

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of exchange companies reject a decision of the Central Bank of Iraq

Exchange companies reject a decision of the Central Bank of Iraq
 
 Twilight News    
 
 3 hours ago
 
 

Shafaq News / The service institution of exchange companies held on Saturday a seminar on the decision of the Central Bank of Iraq to merge the money exchange companies.

The seminar was held this evening at a hall in the Babylon Hotel in the center of the capital Baghdad, with the participation of specialists in the financial and economic and owners of exchange companies.

The owners of exchange companies during the symposium rejected the decision of the Central Bank to merge 10 companies in one company for the purpose of controlling the work of these companies and control.

The Central Bank of Iraq has called mid-October companies to mediate the sale and purchase of foreign currency to merge to form a single banking institution, based on the Companies Law No. (21) for the year 1997 amended.

 http://www.shafaaq.com/ar/Ar_NewsReader/2ba5bce3-e856-4dca-a434-ae6408ee6638

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The service institution of exchange companies will hold a preparatory forum to discuss the merger of banking companies




 

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The service institution of exchange companies called on all companies to broker the sale of foreign exchange certificates to attend the preparatory forum held today at the Babylon Hotel , indicating that the forum will discuss and put forward views and proposals on the invitation of the Central Bank to merge brokerage companies. 

The Foundation said in a statement received by Alsumaria News a copy of it, "In order to support the exchange rate of the Iraqi dinar and towards financial stability and reduce the chances of transfer of risk in providing the best services and financial instruments, the service establishment of exchange companies to attend the preparatory and preparatory forum on 20 - Babylon Hotel Enlil Hall at 2 pm to discuss and put forward views and proposals on the call of the Central Bank in his book No. 9/5/361 dated 15/10-2018 calling for the merger of companies mediating the sale and purchase of foreign currencies.

The Foundation called on all brokerage companies to "attend this forum, which includes a set of proposals and alternatives aimed at raising the level of knowledge and responsibility to make the appropriate decision on integration and its impact in favor of this financial sector and to protect citizens in the visions of the future of services and developments in the markets."



https://www.alsumaria.tv/news/250442/%D8%A7%D9%84%D9%85%D8%A4%D8%B3%D8%B3%D8%A9-%D8%A7%D9%84%D8%AE%D8%AF%D9%85%D9%8A%D8%A9-%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%B1%D8%A7%D9%81%D8%A9-%D8%AA%D8%B9%D9%82%D8%AF-%D9%85%D9%84%D8%AA%D9%82%D9%89-%D8%AA%D8%AD%D8%B6%D9%8A%D8%B1%D9%8A%D8%A7/ar

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