Spiked Camel Kava Java ‘Continued’ !

[umbertino]

20 minutes ago, Half Crazy Runner said:

 

I swear I saw that on Monty Python ... 😆

 

 

Awesome actors & movies......

[DinarThug]

15 hours ago, DinarThug said:

Economist: The central bank follows a fiscal policy to keep the dinar exchange rate against the dollar steady

 

By ahad5 24/08/2019 09:40 PM 

 

Ahd News - Baghdad

 

Economic expert Latif al-Okaili, on Saturday, that the government's approach to reprinting the currency will reduce the burden of damage to banknotes in the markets.

"The use of metal categories and their descent for circulation gives a notional value to the currency as it aims to preserve the currency and not need to request more banknotes, especially those with small categories," he said. This is a negative indicator of the country's economy. ”

He added that "the government's approach to reprinting the coin will reduce the burden of damage to banknotes in the market and reprinting again."

With regard to the possibility of raising the price of the dinar against the dollar, Al-Okaili said, "The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar fixed without change to not enter inflation."

The parliamentary Finance Committee, on Monday, announced a trend to re-work in the currency and the removal of zeros from banknotes, in order to strengthen the economy. Finished 8

link

 

8-25-2019   Newshound Guru G-Lin   Article:  

"Economist: The central bank follows a fiscal policy to keep the exchange rate of the dinar against the dollar steady"  

This sounds like a fixed rate to me. 

I can't imagine spending the amount of money coins will cost and not have an increase in value...

[umbertino]

2 hours ago, DinarThug said:

 

It’s Probably Just A Short ‘Stroll’ From The Ministry Of Silly Walks !  

 

 

I Wonder If That’s WalkingStick Bringing Frankie More Intel ...

 

     

 

 

LOL....Too funny...But some bRITISH HAPPEN TO BE THAT WAY ( NO OFFENSE MEANT TO ANY uk PERSON HERE ON dv)

[DinarThug]

LINK

Deputy reveals the completion date of the Ministry of Education file

 

 

26th August, 2019

 

The MP in the House of Representatives, Abdul Aoun Allawi, on Monday, the date of completion of the file of the Ministry of Education.

Allawi said, in a statement followed by "tomorrow," that "the file of the Ministry of Education will end with the beginning of the next legislative chapter."

Disagreements between the Sunni blocs so far have hindered the designation of a minister for education despite the passage of 9 months to form a government.

According to the consensus of the Sunni blocs at first, the education portfolio belonged to the Arab project bloc led by Khamis al-Khanjar, but the parliament over the past months rejected all the candidates, namely, "Safana Hamdani" and "Shaima al-Hayali" and "Zahida Abdullah."

[DinarThug]

LINK

Executive Director of the Iraq Stock Exchange: Joint Stock Companies Gateway to support Sustainable Development

 

 

26th August, 2019

 

Stressed the Executive Director of the Iraqi market for securities Taha Ahmed Abdul Salam need to expand the establishment of joint-stock companies for their role in supporting the national economy and the family economy, as he stressed the importance of spreading the culture of stocks in the Iraqi society and work to expand investment in stocks and bonds to be an attraction Financial surpluses of citizens. He said: "The Iraqi market for securities official market listed in which 103 joint-stock companies representing 9 economic sectors, banking, industrial, agricultural, service, insurance, communications, investment, these are the various segments of the Iraqi economy.

The future of the economy

Abdul Salam said, "When you compare at the level of a market the size of the Iraqi economy and trade exchanges with the countries of the world we find that the 103 number is very simple in front of the capabilities and future of the Iraqi economy and its potential, that is, when we say that the GDP of more than 100 billion dollars comes on the contribution of the private sector And mixed find the proportion of its contribution to this output does not exceed 7-1 percent of the Iraqi economy, compared with the economies of the world when you notice the proportion there ranging between 70-40 percent. He pointed out that "should focus on the culture of investment or its goal or stand at the fact of the existence of investment in securities in Iraq and here we point the importance of encouraging the establishment of joint-stock companies, and this element is born or leads to the advancement of the Iraqi economy through the development of investments and the operation of competencies."

The establishment of companies 

Said Abdul Salam that he aspires to encourage joint - stock companies , as prepared by the target and very willing to reach them through the culture of investment, and the establishment of joint stock companies itself creates investment in the Iraqi Almjmta culture", pointing out that "the number of Iraqi joint stock companies or hybrid should not be less than About 500 companies in an economy the size of the Iraqi economy.”  He added that "the market is trading stocks and bonds 103, but at the same time the law allowed the circulation of government bonds, and there is now the process of issuing government bonds through the Central Bank of Iraq during the three years, as the issuance of the central bank was accepted and traded in the market, but when it came to extinguish She was in circulation and she was 3 years old.” 

Government bonds

Abdul Salam stressed the importance of generalizing the idea of government bonds to the bonds of joint-stock companies, meaning that we allow companies according to the law to issue bonds or lending bonds of their own, these bonds raise the capital of companies and achieve the first two objectives of the joint-stock company inflate the purpose of financing required by the company, also achieve The securities market is a diversification of financial instruments, and there will be bonds besides stocks. The other end is a kind of safe investment for the investor, which in turn encourages new investors to enter into the purchase of bonds.  “The culture of investment is linked to the development of procedures for the establishment of joint stock companies and the issuance of bonds. When their issuance rises, their contribution to GDP is broader and addresses complex economic problems within the domestic market,” he said. He said that “the market is working to train at least 400 students in order to spread the culture of investment at the level of university students, but if there is a scientific material for students of colleges concerned with economic affairs in all its joints, and thus gain an important segment to be in the field of investments in stocks and bonds, as happens This also encourages the student to establish a joint stock company or be a part of it or to invest in this important joint. ” 

Stock culture

He pointed out to the importance of a chapter in economics in the preparatory study on the stock market, and serve as an entrance to this important joint in economic life, and here the student will be part of the market and spread the culture of stocks and bonds and their role in supporting the national economy and family economy. He stressed "the importance of expanding the establishment of new joint-stock companies to bring the national economy out of the recession," pointing to the need for government directions to refer projects to joint stock companies, to lead this trend, therefore, to the establishment of holding companies consisting of many specialized companies, and this Leads to the qualitative implementation of projects in their technical aspects, and there is a correct performance in the work.

Encouraging investment

He warned that “the last two years have witnessed an expansion in Islamic banks, and this requires the existence of financial instruments to encourage investment, as when proposing participation with these banks by shareholders and businessmen needs to deposit Islamic banking certificates and special trading certificates to be linked to the activity of the bank, pointing "All these measures need a law." He pointed out that "international companies that make profits we put their shares at a high value commensurate with their reality in the market through the public offering and this is applicable globally, as international companies are offered at high prices. On the economy and transparency, Abdul Salam said: "We always call for companies to adopt international standards in the disclosure of annual data, especially that the central bank obliged banking companies to issue the final accounts and financial statements in accordance with international accounting standards, and the company issued its accounts according to those standards." "Here we have to push industrial and agricultural companies in this direction because international standards have international reliability that drives the investor to invest in the financial market." 

Investment funds 

"The other important point law or instructions to establish Iraqi investment funds, so far there are no instructions in this regard, in the Iraqi market for securities there are 30 foreign investment funds between Arab and foreign trading and dealing in the Iraqi market for securities."  “The question is, why don't we have a gesture to establish investment funds, especially since many citizens have small, medium or large surpluses that they cannot invest if there is an investment fund to invest these funds in economic fields across the stock exchange, which is the best way for small investors,” he said. We would have had financial management in the stock market.

[DinarThug]

Parliamentary action: Parliament will reduce the sale price of a barrel of oil below the $ 50 budget in 2020

 

16:08 - 26/08/2019

 

  

 

Information / Special…

 

 

The parliamentary working committee confirmed on Monday that the decline in global oil prices would put the government in front of an economic "disaster" if it adopted the sale price of oil for $ 56 a barrel in the draft federal budget for 2020, while showing that the parliament will go towards reducing the sale price of oil barrels below $ 50 To avoid fiscal deficits.

A member of the Committee Fadhil al-Fatlawi in a statement to / information /, "The government is geared towards activating local industries to reduce dependence on oil exports fundamentally," pointing out that " Iraq has outlets border natural resources can rely on oil rather than in thepreparation of federal budgets."

He added that "the decline in high oil prices will put the government in front of an economic disaster in the case of the adoption of the sale price of oil barrel 56 dollars within the budget of 2020 ″, noting that" Parliament will go towards reducing the sale price of oil barrels below 50 dollars in the new budget to avoid the expected fiscal deficit.

Oil expert Hamza al-Jawaheri predicted last week that world oil prices would fall below $ 50 per barrel, while the government warned against the adoption of $ 56 to sell a barrel of oil in the draft federal budget for 2020.

The Organization of the Petroleum Exporting Countries (OPEC) has announced pessimistic forecasts for oil for the remainder of 2019, in light of the escalating trade war between the United States and China, and the exit of Britain from the European Union.

OPEC cut its forecast for oil demand growth in 2019 to 1.10 million barrels per day, and the Organization of Petroleum Exporting Countries is likely to report a slight surplus in 2020.

link

[DinarThug]

Specialized: minted coins serve internal business transactions

 

 

 

Monday 26 August 2019 

 

 
 
There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.
 
 
Strategic Plan

Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support the value of the Iraqi dinar in trading
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said, adding that "part of the restructuring plan of the currency and banks involves the creation of coins for trading." Financial support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions.
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency."
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the replacement process, while foreign trade will not be affected as the price of exports will continue itself unchanged, as well as import payments are not affected because foreign exchange is in foreign currency against domestic, which remains unchanged because The purchasing power of a currency
do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits, including the fact that changing the currency leads to more efficiency for the local currency by reducing the number of zeros," he said.
Public".
 He said that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially
 Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by the people with a large number of zeros that push towards the generation of inflationary pressures, and the currency change signals to the local community and international markets that the government is serious in removing inflation, and the economy is heading towards a new beginning empty Of inflation
Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.

 

https://translate.google.com/translate? 

[DinarThug]

With (writings) .. "Hashim Shamma" reveals .. Thus plunge Iraq corruption "Central Bank"!

 

 
Monday, August 26, 2019

 

Some banks were receiving the "dollar" and do not recognize the amounts of "Iraqi dinar" actually! The gates of corruption remained lawful because previous audits and procedures were not integrated Exaggeration in the building of the “Central Bank” may be behind a large corruption! Is it possible that the number of banks in Iraq exceeds those of Britain, the United Arab Emirates, Jordan and Lebanon? An American employee of Iraqi origin controls the decisions of the "Central Bank" and all decisions are made for his own interests!

Private: I interviewed him Nashwa Hefni

"Central Bank"; one of the important constitutional institutions regulating and maintaining the Iraqi economy, which is the cornerstone of the cohesion of the state of the four-way collapses: political, security, economic and social, but the functioning of the "Central Bank" of Iraq has been punctuated, after the US occupation of "Iraq", the year 2003, many illegal practices opened the doors of corruption, remarkably, amid the chaos, which prevailed, during the US occupation of "Iraq", and the doors of corruption have remained wide open, perhaps to this hour.

Following a careful follow-up of the files of the "Central Bank" of Iraq and its work, conducted by the "Center for Legal Development of Iraq," has been diagnosed several major irregularities, submitted by the Center, officially, to the "Supreme Judicial Council - Public Prosecution -" Integrity Commission, as well as to " The Supreme Council for Combating Corruption ”; for the purpose of scrutinizing these violations and taking legal action against them.

In this extensive dialogue, conducted by Ketabat with a member of the Iraq Center for Legal Development, Hashim al-Shammaa, these violations were highlighted.

(Writings) : Many accusations leveled against the "Central Bank of Iraq" were dangerous to harm the national economy .. What are the most prominent of these charges?

Regarding the accusations leveled against the Central Bank earlier, most notably the bank's dealings with the sale of the dollar (dollar). The gap still exists, and it negatively affects the Iraqi economy, and based on the information we have and some of the documents we have seen, we have confirmed a number of legal audits at work.

(Writings) : What are these audits .. which you have proven?

The previous audits and investigations in this file have not been conducted in an integrated and pivotal manner, and this has caused this section of corruption to remain open in a manner that has a negative impact on the Iraqi economy, as these investigations were conducted with the executives of some banks; without linking them to employees in the "Central Bank" Or other relevant departments, including private banks.

(Writings) : But all this was done according to fundamentalist bills, which leads to suspicion or accusation or refute them?

Previous investigations have focused on the formality of bills, bills prepared by the hawala owner or bank to the Central Bank, which is easy to prove that these bills are unofficial (not issued by official bodies), but by companies.

(Writings) : But all these remittances were in the millions of dollars withdrawn from the "Central Bank" and was spent to buy goods entered into "Iraq"?

It must be confirmed through the Iraqi official bodies .. Is the goods have been introduced to the amounts of these remittances, everyone knows that it is not reasonable to enter into Iraq "goods equal to the amounts of remittances, and if proven, we will be in front of complex crimes, (fraud + fraud + smuggling Money + damage to the national economy).

(Writings) : Is it possible that these remittances are audited by the Central Bank employees as well?

Central Bank employees, like all Iraqi employees, are charged with public service. They must make an effort to check the authenticity of invoices and forged documents, and if they are accepted - even if in good faith - they should be held legally accountable. The theory of side agreements that violate the law between some employees of the Central Bank and the owners of banks.

(Writings) : "The Central Bank" sells the currency, (the dollar), to customers .. Where is the problem?

Was it verified and verified that the owner of the transfer is a customer of the bank (that is, he has an account in it), which he mediates between him and the Central Bank to buy the currency (the dollar), and whether this customer has sufficient amounts in his account for the amount of the transfer to be requested from the Central Bank? ?!.. this is the question.

(Writings) : Where are the beneficiaries of fraudulent bank transfers or violation of them?

The owners of companies, traders, contractors or any other importer; in this way, make bank transfers, has been conducted investigations and audits about the validity of the existence of these companies? .. Is the person who the transfer is a trader? .. And does he have the documents, which prove it or what it is like And, of course, if we went deeper into the investigation, we would find that things had been in front of allegations with headings that are not true and unfounded.

(Writings) : How was the process of buying the currency, (the dollar) .. exactly?

The purchase of the currency, (the dollar), was done at the time of the previous administrations electronically, (some banks were receiving the dollar without actually handing over the amounts in Iraqi dinars), in other words, some banks agreed with the employees of the "Central Bank" on that without They make any payments for millions of dollars and pay them after they are sold in local markets.

(Writings) : Has it been ascertained by international banks that these remittances have actually been transferred to them?

No, the international banks to which the alleged remittances have been transferred have not been ascertained, have they been transferred to the relevant authorities (the purpose of the remittance), or have been remitted to other accounts, either at the bank itself or to other banks, Here we will be sure that we are facing the crime of currency smuggling.

(Writings) : With regard to irregularities in the work of the "Central Bank of Iraq" .. Did you diagnose only a violation of the sale of "dollar" or there are other irregularities?

The recent administration of the Central Bank has almost tripled the number of banks in Iraq, without any feasibility study. This opened the door to a new corruption, which is the sale and purchase of foundation permits.

(Writings) : When the phenomenon of "private banks" spread .. Did the "central bank" imposed on them determinants and set requirements and take action?

The management of the “Central Bank” required banks to increase their capital for the purpose of obtaining an advanced classification. Any amounts.

(Writings) : How do you think this opened the gaps of corruption in the work of the "Central Bank of Iraq"?

It was the confusion, which marred the decisions of the Board of Directors of the Central Bank, which allowed some corrupt to exploit the gaps created by those decisions, for example:

A- With respect to Islamic banks, three contradictory decisions were issued regarding entering the currency auction, and within a long period of time, one of them was prohibited, the other authorized, and the third was determined, all of which contravene Islamic Banking Law No. (43) of 2015.

B - The issuance of tables of the "Central Bank" in four categories, (A - B - C - D), in order to classify private banks in the currency auction, Class (A) has the highest share, and then Class (B) has a lower share, and it varies And to class (D) without any basis or standard for this classification, but is based on side agreements, and this classification changes from time to time until it came to cancel and return to the old system.

C - Issuing instructions, in 2015, not to demand customs permits, how is it - then - to verify the entry of goods?! .. This allowed the corrupt to exploit this window.

(Writings) : Who benefits from this administrative and financial corruption in the Central Bank?

Many of the managers, especially in the important departments, are not competent and have been transferred to the Central Bank of the Investment Authority, and there is no relationship between the two institutions, we have to check to find the beneficiary.

(Writings) : Does the Iraqi government have absolute authority over the Central Bank of Iraq?

There is even an American employee of Iraqi origin, “Sebastian Talaat Marcus”, who controls the Bank's detailed and strategic decisions, especially in the current administration.

(Writings) : In the past years, banking offices have also spread in a remarkable way. Has the investigation into the spread of this phenomenon been legal?

 

Verify the licenses of banking companies granted in the past three years, numbering dozens of licenses, and they were issued either in return for money or for political parties.

(Writings) : I mentioned, just before, that some banking companies grant leave in favor of political parties .. What is the procedure to check backgrounds?

Verification of banks that are affiliated with or supported by political entities will result in the disclosure of political corruption.

(Writings) : Do you think that there are other resources identified in the Bank's work that are tainted by corruption or suspicious transactions?

Yes, the first is to check the exaggeration in the building of the "Central Bank" to be built.

(Writings) : Have you found other factors in the past years that led to corruption in the Central Bank?

Yes .. The verification of the decision of the "Central Bank" to buy "gold", at a time when all reports indicate the low prices at that time, caused a great loss for "Iraq".

link

[DinarThug]

LINK
 

The regional delegation is waiting for the Baghdad signal

 

 

 

 

2019/8/26 12:09 

 

 

It is expected that a delegation from the Kurdistan Regional Government will visit the capital Baghdad, to discuss a number of outstanding files with the federal government. "After the exchange of visits between the Kurdistan Regional Government and the federal government, efforts continue to address the outstanding problems," government spokesman Gutiar Adel said in a televised statement. 

He added, "The joint committees between the Kurdistan Regional Government and the federal government made its willingness to prepare reports for each file, but so far there is no specific date for the visit of the delegation of the Kurdistan Regional Government to Baghdad." 

He pointed out that "the Kurdistan government is waiting for the answer of the federal government to determine the date of the next meeting and visit the capital."

[DinarThug]

On 8/25/2019 at 10:29 AM, DinarThug said:

The strategic partnership between the government and the private sector is the cornerstone of Iraq's 2030 vision

 

25th August, 2019 by Banking Advisor Samir Nasiri

 

 

The Ministry of Planning announced last week the launch of the National Vision for Sustainable Development of Iraq 2030 with a broad presence of vision stakeholders, ministries, the private sector, academics, experts and consultants specialized in development, investment, reconstruction and community building, with the active participation of UNDP. Poverty Reduction Based on the data contained in the government curriculum of Dr. Adel Abdul Mahdi's cabin for the years (2018-2022) and what actually contributes to achieving sustainable development Below we define our vision of the institutional and structural partnership between the government and the private sector as follows

All indications are that the new government plans to start the transition from the rentier to productive economy during its current cycle, in line with the National Development Plan for the years (2018-2022), diversify resources, and reduce the dependence on oil as a major source of revenue

In order to achieve this must be to have a role and a clear program decree to engage the sector's in the management of the economy and industry decisions and economic development comes this from through the re - building the institutional and legal structure of the private sector in the legislative, motivational and procedural aspects in line and matches the axes of the government program and implementation phases of the development strategy. The private sector for the years (2014-2030) launched by the government in February 2015 and Iraq Vision 2030 on These programs should start immediately by establishing mechanisms to involve the national private sector in economic decision-making, in particular the development of the private banking sector, completing its construction in a solid and discreet manner, restoring confidence to deal with it, and attracting the accumulated cash mass outside the banking system, which constitutes up to 77% of the circulating currency according to a comprehensive view. To stimulate all productive sectors, mainly in agriculture, industry and construction (housing and construction), energy, services and tourism, and that the government and private sector representatives adopt programs, contributions and executive measures calculated and supported physically and legally, and that age Watt (2019-2030) is already the years of support, activation and development of the sector

In order to achieve this, the government must first establish the Private Sector Development Council, which is currently undergoing a concerted effort led by the Ministry of Planning and Follow-up seriously from the Minister and the Ministry's cadres in partnership with all representatives of the private sector. This Council shall be represented in the opinion bodies in the ministries related to sustainable development and its Chairman shall be The private sector is also represented in the follow-up committees of implementation and the specialized committees in the Council of Ministers and given a key role to the private banking sector as the primary responsible for financing and lending to small and medium enterprises and housing and reconstruction projects

Therefore, I believe that the stage and the experience experienced by Iraq economically since 2003 need to pause analytical and evaluation and review in order to build its national economy according to a new strategic view to transition to a market economy in accordance with the vision of Iraq 2030 and based on a program prepared by the government and approved by the Iraqi Council of Representatives include several key axes, most notably The axes that clarify the role of the private sector and the role of banks in development, which emphasizes the need to apply important stages towards building a strategy for the development of the economy and support system" rel="">support and development of the private sector to take its role in contributing to the new construction of the economy and diversify its resources for the budget N rely largely on the oil

For the purpose of discussing and studying the economic reality that Iraq is going through it is necessary to stand by logical, scientific and economic analysis on the most important tasks that require the development of the private sector and this means to involve the private sector a greater role in economic decision-making and market leadership through the following

1. Contribute to improving the business environment in Iraq and provide an encouraging investment climate to attract national and foreign capital and encourage the achievement of public-private partnerships

2. Contribute to the creation of a new legislative environment based on Article 25 of the Permanent Constitution and the strategies and laws pertaining to economic reform and the development of the private sector in order to ensure its activation and market leadership in the future

3. Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government through activating the partnership law between the private sector and the public sector, which has not been implemented for several years

4. Contribute to the development of policies, mechanisms and strategies and participate in the follow-up of their implementation to resolve the transition to the stages of time-programmed to the market economy

5 - Working to provide additional sources of funding for the state budget by adopting the development and diversification of resources towards increasing the proportion of resources other than oil in the GDP

6- Encouraging the establishment and development of micro, small and medium enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions

 

8-26-2019   Newshound Guru MilitiaMan  Article: 

"The strategic partnership between the government and the private sector is the cornerstone of Iraq's 2030 vision"    

Moving to a market economy is essential now. 

They have calculated the mechanisms to do so now. 

They'll also need to have the economic reforms in place at an international level  to support the new economy to come. 

Attracting foreign capital is clearly going to come from a new exchange mechanism in place...imo.

[DinarThug]

11 hours ago, DinarThug said:

Specialized: minted coins serve internal business transactions

 

 

 

Monday 26 August 2019 

 

 
 
There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.
 
 
Strategic Plan

Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support system" rel="">support the value of the Iraqi dinar in trading
"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said, adding that "part of the restructuring plan of the currency and banks involves the creation of coins for trading." Financial support system" rel="">support for the national economy. "
Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support system" rel="">support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions.
"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency."
 
Delete the zeros
Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end
Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into
Economy".
Al-Ghalbi added that "the central bank is constrained by the existing cash in the replacement process, while foreign trade will not be affected as the price of exports will continue itself unchanged, as well as import payments are not affected because foreign exchange is in foreign currency against domestic, which remains unchanged because The purchasing power of a currency
do not change".
 
Multiple benefits
"Changing currency and deleting zeros brings multiple benefits, including the fact that changing the currency leads to more efficiency for the local currency by reducing the number of zeros," he said.
Public".
 He said that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially
 Accountants. "
 
Monetary deception
Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by the people with a large number of zeros that push towards the generation of inflationary pressures, and the currency change signals to the local community and international markets that the government is serious in removing inflation, and the economy is heading towards a new beginning empty Of inflation
Untamed. "
He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.

 

https://translate.google.com/translate? 

 

 

Specialized: minted coins serve internal business transactions

 

Monday, August 26, 2019

 

Emad Emirate Baghdad / Mustafa Al - Hashimi 

 

There have been recent parliamentary voices calling for the reintroduction of coins (coinage) and reintroduction into circulation, as well as reconsideration of the project to delete the three zeros from the Iraqi currency, at a time when economists regarded it as part of the great economic reform process in the country.

 

 

Strategic Plan

Economist Dr. Essam Mohamed Hassan said that "the Central Bank decided earlier to develop a plan to create coins as part of a restructuring plan that requires the approval of the House of Representatives as a strategic plan will contribute to support the value of the Iraqi dinar in trading 

"The change of currency means that a new currency replaces an old currency, with a specified replacement rate, and removes the zeros of the old currency or moves the decimal places to the left," he said. Financial support for the national economy. "

Hassan said that "the coin project, launched in 2004 did not succeed because of the absence of comprehensive economic reforms to support the financial value of the dinar in the global market," explaining that the coins will be one of the important intermediate currencies that will be used for trading and transactions. 

"Deleting zeros and reintroducing coins has to do with economic reforms because coins, because of their durability, are longer than coins that are quickly damaged," he said. In 2004, "indicating that this requires the dissemination of a culture to educate the public about the economic feasibility of the minted currency." 

 

Delete the zeros

Dr. Abdul Hussein Al-Ghalbi, an economist at the Faculty of Business and Economics, University of Kufa, said: "The process of changing the currency is not limited to deleting zeros, but it can be done by adding a number of zeros or moving the decimal places to the right, as happened in South Africa in 1961, but the situation Prevailing over the past 50 years in most countries is the elimination of zeros because of the hyperinflation witnessed by many countries, which obliges to add zeros to their currencies in those circumstances, and then get rid of zeros at the end 

Al-Ghalbi stressed that "changing the currency does not affect productivity, as well as that this change does not affect the purchasing power of money, because the power comes from the increased demand for money against the money supply, and as long as the purchasing power does not change, the demand for currency and money supply They do not change, because deleting zeros does not entitle monetary institutions and the central bank to print more money and pump it into 

Economy".

Al-Ghalbi added that "the central bank is constrained by the existing cash in the process of replacement, but foreign trade will not be affected as the price of exports will remain the same unchanged, as well as import payments are not affected because foreign exchange is in foreign currency versus domestic, which remains unchanged because The purchasing power of a currency do not change".

 

Multiple benefits

"Changing currency and deleting zeros brings multiple benefits," said Al-Ghalbi. Public".

 He pointed out that "after the change of currency will occur a serious reduction in the volume of transactions with less amount of money, which facilitates all parties to deal with, especially Accountants. "

 

Monetary deception

Al-Ghalbi said that "currency change reduces the phenomenon of monetary deception experienced by people with a large number of zeros that are pushing towards generating inflationary pressures. Of inflation Untamed. "

He added that "currency change leads to greater confidence in local currency and credibility, and when there are a large number of zeros in the local currency people lose their confidence, especially those with transactions in wholesale markets and importers, as they will replace the local currency with stable international currencies such as the dollar or the euro, which deepens The phenomenon of dollarization in the domestic economy, which weakens monetary authority and reduces the effectiveness of policy Cash.

link

[DinarThug]

LINK

UN Security Council to meet tomorrow on Iraq

 

27th August, 2019

 

The UN Security Council will hold a meeting tomorrow on the situation in Iraq, press sources said.

The sources said that "the meeting will be held tomorrow at 10:00 am New York time (5:00 pm Baghdadtime)."

 

It is expected that the Special Representative of the Secretary-General of the United Nations in Iraq Jenin Hennes-Blachart briefing soon after the start of the meeting.

 

The Special Representative will be presented by Ms. Hines Genin-Blaschart briefing on developments in Iraq and the mission of the United Nations to help Iraq (UNAMI).

[GregHi]

1 minute ago, DinarThug said:

LINK

UN Security Council to meet tomorrow on Iraq

 

27th August, 2019

 

The UN Security Council will hold a meeting tomorrow on the situation in Iraq, press sources said.

The sources said that "the meeting will be held tomorrow at 10:00 am New York time (5:00 pm Baghdadtime)."

 

It is expected that the Special Representative of the Secretary-General of the United Nations in Iraq Jenin Hennes-Blachart briefing soon after the start of the meeting.

 

The Special Representative will be presented by Ms. Hines Genin-Blaschart briefing on developments in Iraq and the mission of the United Nations to help Iraq (UNAMI).

Was this expected? Interesting...

[screwball]

4 minutes ago, GregHi said:

Was this expected? Interesting...

I don’t think this was expected could be wrong 

[DinarThug]

3 minutes ago, GregHi said:

Was this expected? 

 

Not When U Can Just Roll With It !  

 

 

     

[DinarThug]

LINK

Annual Inflation Drops by 1.6%

 

27th August, 2019

 

The Ministry of Planning announced on Monday, the country's annual inflation rate fell by 1.6%.

"The core inflation index increased by 0.3% from the previous month and decreased by 0.9% compared to July 2018,'' ministry spokesman Abdul Zahra al-Hindawi said in a statement received by Alsumaria News.

Hindawi added, "The annual inflation rate fell during the month of July of this year 2019 to (1.6%) compared with July of last year 2018, where the record reached at the time (105.9%).''

[gregp]

1 hour ago, DinarThug said:

LINK

UN Security Council to meet tomorrow on Iraq

 

27th August, 2019

 

The UN Security Council will hold a meeting tomorrow on the situation in Iraq, press sources said.

The sources said that "the meeting will be held tomorrow at 10:00 am New York time (5:00 pm Baghdadtime)."

 

It is expected that the Special Representative of the Secretary-General of the United Nations in Iraq Jenin Hennes-Blachart briefing soon after the start of the meeting.

 

The Special Representative will be presented by Ms. Hines Genin-Blaschart briefing on developments in Iraq and the mission of the United Nations to help Iraq (UNAMI).

 

1 hour ago, GregHi said:

Was this expected? Interesting...

 

The timing is impeccable. 

[Half Crazy Runner]

4 hours ago, DinarThug said:

The UN Security Council will hold a meeting tomorrow on the situation in Iraq, press sources said.

 

I wonder what “situation” they’re referring to...?  

[DinarThug]

LINK

A government delegation from Baghdad will visit Erbil tomorrow

 

 

 

2019/8/27 11:54

 

 

A delegation from the federal government will visit the Kurdistan region on Wednesday to discuss the issue of oil, the budget and the Peshmerga.
 

"The delegation of Baghdad will arrive Wednesday evening at the Erbil International Airport," said Noureddine Wissi, media secretary of the prime minister, during a meeting Tuesday in Erbil between a media team of the Kurdistan Regional Government under the supervision of government spokesman Gottiar Adel and a number of media representatives. 

He added, "The delegation's visit comes within the framework of discussions between the Kurdistan Regional Government and the federal government on the outstanding issues between the two parties, especially the issue of oil and budget and the Peshmerga."

 

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A high delegation from the federal government visits Erbil

 

 

27th August, 2019

 

A high-level delegation from the Iraqi government will visit Erbil, capital of the Kurdistan region on Wednesday to meet with a government official Masrour Barzani. 

A source in the provincial government Shafaq News, said the delegation will be led by Interior Minister Tawfiq al-Yasiri, accompanied by managers in the departments of nationality, passports, borders and traffic.  This delegation was preceded by a first visit to Erbil on the 25th of last month, including a high-level delegation including Finance Minister Fuad Hussein, Chairman of the Popular Mobilization Authority Faleh Al-Fayyad, Oil Minister Thamer Al-Ghadban and Director of the Office of Prime Minister Abu Jihad Al-Hashemi. 

The Baghdad delegation discussed with Kurdistan officials the issue of the budget and oil and other outstanding issues between the two sides, in an attempt to resolve all these problems before the preparations for the approval of the budget next year. After the formation of his government, the middle of last month Masrour Barzani, a visit to the capital Baghdad, led by a high government delegation, during which he met the three Iraqi presidencies, in what he described his visit as "positive." 

These meetings come after a qualitative leap in the relationship between Baghdad and Kurdistan following Twitter following the holding of the independence referendum in late 2017, and the subsequent actions by the federal government.  Overall, there is a positive atmosphere in the relationship between the parties since the formation of the new Iraqi government, and the new government in Kurdistan, as the Kurds feel that Iraqi Prime Minister Adel Abdul-Mahdi does not seek a similar rival to his predecessor, who had a good relationship with Kurdish leaders since the seventies of the last century.

[DinarThug]

LINK

The Interior Minister of the Region announces the most important thing to be discussed with a high-level delegation from Baghdad

 

 

27th August, 2019

 

Iraqi Interior Minister Yassin al-Yassiri will visit the capital Erbil.

"We will discuss with the high-level delegation the problems that our citizens are still facing with regard to the civil status issue," Ahmed told reporters. He added that the delegation is special on the work of the two ministries only, adding that "the Kurdistan Regional Government is waiting for the federal government to prepare its committees in order to seriously talk about the differences and outstanding issues at once."

The minister said that "our committees are ready and is scheduled to visit Baghdad at any time the federal government is ready to receive us."

A high-level delegation from the Iraqi government will visit Erbil, capital of the Kurdistan region on Wednesday to meet with a government official Masrour Barzani. A source in the provincial government Shafaq News, said the delegation will be led by Interior Minister Tawfiq al-Yasiri, accompanied by managers in the departments of nationality, passports, borders and traffic.

This delegation was preceded by a first visit to Arbil on 25 of last month, a high-level delegation included Finance Minister Fuad Hussein, the head of the Popular Mobilization Authority Faleh al-Fayyad, Oil Minister Thamer Ghadhban, and Director of the Office of Prime Minister Abu Jihad al-Hashemi.

The Baghdad delegation discussed with Kurdistan officials the issue of the budget and oil and other outstanding issues between the two sides, in an attempt to resolve all these problems before the preparations for the approval of the budget next year. After the formation of his government, the middle of last month Masrour Barzani, a visit to the capital Baghdad, led by a high government delegation, during which he met the three Iraqi presidencies, in what he described his visit as "positive." These meetings come after a qualitative leap in the relationship between Baghdad and Kurdistan following Twitter following the holding of the independence referendum in late 2017, and the subsequent actions by the federal government.

Overall, there is a positive atmosphere in the relationship between the parties since the formation of the new Iraqi government, and the new government in Kurdistan, as the Kurds feel that Iraqi Prime Minister Adel Abdul-Mahdi does not seek a similar rival to his predecessor, who had a good relationship with Kurdish leaders since the seventies of the last century.

[DinarThug]

LINK

Trade Bank of Iraq

 

27th August, 2019

 

A Video Guide to the activation and use of the cards of the Iraqi trade bank when they are issued and receive a one-time text message (we also confirm that this message with the password will not be deleted until the process is completed).
[OTP]

VIDEO LINK

[DinarThug]

LINK

World Bank confirms its support for the advancement of the economy of Iraq

 

 

 

2019/8/27 15:27 

 

Speaker of the House of Representatives Mohammed Halbousi, on Monday, with the World Bank economic conditions and ways to support Iraq in the economic file. "Halbousi received, on Tuesday, the Regional Director for the Middle East at the World Bank Saroj Kumar Jah." 

The statement added, "The meeting discussed opportunities to strengthen joint cooperation in the field of investment, and appropriate mechanisms to reduce administrative bureaucracy in ministries and state institutions, and create jobs for young people through strategic projects." 

Al-Hablousi said, according to the statement, "the House of Representatives keen to follow up the file of cooperation between the federal government and the World Bank, which contributes to the development and implementation of economic projects that support the citizen directly." 

For his part, Kumar Jah, "the World Bank's cooperation with Iraq, and support for the advancement of economic reality, and contribute to achieve development."

 

##########

 

World Bank confirms its support for Iraq to promote economic reality 

LINK

 

[DinarThug]

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Al-Mashat: Monetary policy in Iraq is managed by three elements you know ?

 

 

27th August, 2019

 

Chairman of the Board of Directors of the Arab Mashreq Bank Sadiq al-Mashat, Tuesday, "The Central Bank of Iraq is a government institution exercising its functions within the legislative framework of the state, and has its own specificity in the implementation of independent decisions of monetary policy and achieve price stability, which must be consistent with policy the general economic state. 

He Mashat said in a statement, said that "the role of the central bank is issued currency and managed by a state bank and its agent and financial advisor , a fund in which the state holds its monetary and financial savings," adding that "the Central last resort for lending Controller to regulate credit and portfolio on the soundness of the financial position of the banks as the banks' bank."

He added: "If there is some kind of overlap or lack of clarity in any of the powers of all parties concerned, it should not be reflected in the stability of the general level of prices and the exchange rate of the national currency against other foreign currencies, and the commodity side of the national economy."  

He pointed out that "monetary policy in Iraq is managed by three elements, two of which are under the direct disposal of the central currency auction, and interest rates on the dinar produced through the operations of the Central Bank, which is represented by the use of interest rate signal (central bank rate)."  

He continued: "The third factor is the volume of foreign currency flows realized from Iraqi oil exports subject to fluctuations in crude prices in world markets, which in turn paint the features of public spending."

[DinarThug]

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Change: The KRG will yield to Baghdad and agree to its terms on oil exports and ports

 

 

27th August, 2019

 

The Kurdish change movement, on Tuesday, the government of the region's acquiescence to the dialogue and the conditions of the central government to export oil and controversial points in the budget and border outlets, attributing it to the deficit of Kurdistan and economic failure in recent years.

The leader of the change and a member of Kurdistan's former parliament Piston Faeq to / information /, "The government of the region recently realized that the deteriorating economic situation and the outcome of things caused by the policy of intransigence and its inability to manage and walk Kurdistan economically without the central government in Baghdad." He added that "Kurdistan will acquiesce to the door of dialogue, understanding and agreement with Baghdad on all controversial points in the budget for the export of oil and border ports and conditions set by Baghdad."

He said that "the region will hand over oil imports to Baghdad in exchange for his rights in the budget after his government realized the crisis and the inability to provide the salaries of employees without the central government."

[NEPatriotsFan1]

Keep bringing it Thugster! Love it.... lots of activity