Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content

Recommended Posts

On 9/23/2020 at 5:15 AM, crane said:

how much bullshit ???????????????????can be spread around one subject, and what is more pathiec we keep thinking things are going to change ,,,,,,,,,,,,,,insane ???????????????????????????????we must be people, ???????????why the hell else think things could change ??????????? what the description of this madness is called? congnitive disdiongce, what else could it be ???????sorry for the mispellings look up the meaning?????

Put the crack pipe down and calm down 😂 

  • Thanks 1
  • Haha 7
  • Upvote 1
Link to post
Share on other sites
  • Replies 893
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

WARNING!!!  If you don't like reading speculation about why the RV may be imminent, please just skip this post!!!  That way you won't have to get upset and you also won't rain on the parade of those o

In 2016 when Trump won, I felt for those who were shocked and devastated even though I rejoiced.  Will have no sympathy for them this time.

From Delta - Translating Comments On Iraqi Social Media ...               THESE ARE MESSAGES FROM IRAQI SOCIAL MEDIA TO THE NEW CBI GOV..........   "We hope tha

Posted Images

On 9/23/2020 at 12:15 AM, crane said:

how much bullshit ???????????????????can be spread around one subject, and what is more pathiec we keep thinking things are going to change ,,,,,,,,,,,,,,insane ???????????????????????????????we must be people, ???????????why the hell else think things could change ??????????? what the description of this madness is called? congnitive disdiongce, what else could it be ???????sorry for the mispellings look up the meaning?????

Hi

i am davis

whatzzzz uppppp

  • Haha 10
Link to post
Share on other sites

GregHi

  • Senior Member
  • GregHi
  • Members

 

3 hours ago, davis411 said:

Hi

i am davis

whatzzzz uppppp

 

Clooney And The Bro’s Want U To Call An Emergency 4 Day Bender ‘Liquor Cabinet’ Meeting ! :o 

 

 

The HCL Is In Committee ...

 

:D  :D  :D 

 

 

LINK

Iraqi Parliament announces the arrival of the 2020 budget bill to the council

Iraqi Parliament announces the arrival of the 2020 budget bill to the Council
 

The Vice President of the Iraqi Parliament, Bashir Khalil Al-Haddad, announced the arrival of the draft general budget bill for the year 2020 to the House of Representatives.

The general discussions of the representatives' interventions, according to a statement issued by the media department of the council, focused on the inclusion of financial allocations in the 2020 budget for lecturers, contracts and daily workers, and responding to the demands of the health workers who are staging a sit-in in a number of governorates.

The deputies called for hosting the advanced staff in the Ministry of Foreign Affairs. To inquire about some statements regarding Iraq's borders with neighboring countries, to view the border map and the sovereignty of Iraq, and to stress the government's control of uncontrolled weapons and the enforcement of the law. The deputies demanded the necessity to expedite the establishment of the Grand Port of Faw within the international technical specifications, as well as the call to activate the Federal Service Council.

The House of Representatives revealed, the day before yesterday, that the government has not sent the 2020 budget to Parliament yet , despite its approval during an extraordinary session of the Council of Ministers last week, while the Finance Committee called on the government to expedite sending it with a view to voting on it, as it contains paragraphs that serve all segments of society.

On the other hand, Al-Haddad chaired part of the meeting of the Oil and Energy Committee, in the presence of MP Haybat Al-Halbousi, Chairman of the Oil Committee and members of the committee. To discuss legislating a number of important laws related to the oil and gas sectors.

During the meeting, a number of issues were discussed, foremost of which is the draft law for the first amendment of the Iraqi National Oil Company law sent by the Council of Ministers, based on the provisions of Articles 61 / First and 80 / Second Clause of the Constitution. Al-Haddad stressed the importance of laws related to energy, oil and natural resources, which need extensive discussions and hearings, and the need to benefit from the opinions and technical advice of those with specialists.

Al-Haddad called on the parliamentary committees to redouble efforts and continue holding committee meetings to expedite the preparation of draft laws in accordance with the constitutional contexts and the internal system, in line with the current stage and the needs of citizens to provide basic services and achieve stability throughout the country. In turn, the head of the committee stressed that it is going ahead and intends to legislate laws that fall within the specialization of the committee's work.


Deputy Haybat Al-Halbousi indicated that the committee had opened the cabinet to send oil and energy bills,

including the oil and gas law.

In order to discuss it within the committee and resolve views on it in order to vote on it within the committee and complete it’s legislation.


During the meeting, they discussed the book of the Council of Ministers of the Kurdistan Region regarding the law, in addition to the response issued by the General Secretariat of the Council of Ministers to the answers of the region. The Federal Court’s decision regarding vetoing articles in the National Oil Company Law was discussed in order to amend them.


Al-Halbousi asked the members to work continuously and jointly in holding continuous meetings to resolve the law due to its great importance on the country's economy and the development of the oil sector and oil installations, and thus increasing the oil revenues on which the budget depends by 90% of the country's total revenues.

The House of Representatives set, during its sixth session of the fourth parliamentary session of the third legislative year of the first legislative year, which was held under the chairmanship of the First Deputy Speaker, Hassan al-Kaabi, on Monday evening, as a date to complete the legislation of the House of Representatives election law, and voted on one law While he finished reading and discussing 8 laws.

  • Like 3
  • Thanks 1
  • Haha 1
  • Upvote 9
Link to post
Share on other sites
3 hours ago, DinarThug said:
7 hours ago, davis411 said:

 

 

Clooney And The Bro’s Want U To Call An Emergency 4 Day Bender ‘Liquor Cabinet’ Meeting

Here here

meeting starting shortly

  • Haha 2
  • Upvote 1
Link to post
Share on other sites
7 hours ago, DinarThug said:

LINK

Iraq succeeds in exiting the list of high-risk countries

 
%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-696
 
 
10:52 - 09/24/2020
 

The Ministry of Foreign Affairs has succeeded in reinstating the activities of 169 Iraqi companies and institutions out of the 230 entities banned by UN Security Council Resolution 1518, which classified Iraq as a "high risk" country, while seeking to lift the ban on the rest of the entities.

Foreign Minister Fuad Hussein sent a message to his counterparts in the European Union countries, in which he was surprised at the inclusion of Iraq on the list of high-risk countries in the field of money laundering and terrorist financing.

The spokesman for the ministry, Ahmed Al-Sahaf, said in a statement reported by the official Al-Sabah newspaper, which was seen by the information, that “the foreign minister, after meeting with a number of his European counterparts, the policy and security official in the European Union and other high-level personalities, succeeded in gaining their votes and support system" rel="">support to lift Iraqfrom The list is complete very soon”.

Al-Sahaf added, "The entities and institutions covered by the ban extend their work to various sectors such as investment, economy, industry and other sectors," stressing that "lifting the ban on them will add support system" rel="">support to the internal economy and facilitate their cooperation with the government."

 

4 hours ago, DinarThug said:

LINK

In the video: Iraq is emerging from the list of high-risk terrorism

 

image.png.4d1c86781226c36e64807b95a8de58ac.png
 

 

24th September, 2020  

 

More than twenty-five million dollars of frozen Iraqi funds that were in Germany were delivered to the Iraqi authorities, according to the Ministry of Foreign Affairs, which talked about escalating steps to recover the frozen funds abroad. Explaining that she has witnessed international cooperation embodied by the lifting of the ban on one hundred and sixty-nine Iraqi institutions and companies out of two hundred and thirty, specializing in various industrial, investment and production sectors that were suspended over the past years, by a decision of the UN Security Council.

The ministry indicated that the return of the activities of these companies and institutions will be positively reflected in the investment, economic, industrial and production levels in Iraq.

According to the Funds Recovery Department in the Integrity Commission, 

the Iraqi funds frozen outside the country are estimated at more than eighty-seven billion dollars,

especially since the Iraqi laws authorize the Funds Recovery Fund in the Integrity Commission to work on retrieving them, but these laws require, according to political statements, understandings, grievances and courts in order to recover them. 
Something that the current government may have seemed to work on through its diplomatic steps, which were represented by the foreign minister's tour Fouad Hussein To many countries European Union.

Meanwhile, the government of the current Prime Minister Mustafa Al-Kazemi With European support system" rel="">support, especially after the visit of French President Emmanuel Macron, especially since European countries praised his policy of balance Iraq And confirms its support system" rel="">support for the government Baghdad At all levels of development and investment, as well as levels of energy and reconstruction. 


Comment By Delta On This Excerpt From The 2nd Article Above ...

 

:D  :D  :D  

 


 

the Iraqi funds frozen outside the country are estimated at more than eighty-seven billion dollars,

 

 

 

87 BILLION DOLLARS OF IRAQI MONEY ....IF WE ADD IT TO CBI RECERVE WILL HAVE CLOSE TO $150BD.....000043medium_gif

 

DELTA 

  • Like 1
  • Thanks 1
  • Upvote 6
Link to post
Share on other sites
3 hours ago, davis411 said:

Here here

meeting starting shortly


Oh Crap - My Bad For Barging In With That Last Post ! :o 

 

 

I Forgot That President Davis Had The ‘Floor’ ...

 

image.png.49d071172a2ff2469dbf1507ea257a7e.png

:D  :D  :D  

  • Like 1
  • Haha 7
Link to post
Share on other sites

Concerning the currency, salaries and commodity prices ... 10 economic measures and "radical" financial changes that Iraq is expected to implement next year.

 

2020-09-27

 

602x338_cmsv2_77374c7f-5fd9-52af-8a83-eb


 

Yes Iraq: Baghdad

 

Today, Sunday, the economic and oil expert, Nabil Al-Marsoumi, revealed reforms to the International Monetary Fund that Iraq is expected to implement some of them during the next year 2021.

 
 

Al-Marsoumi said in a blog posted by "Yes Iraq", asking: "Will Iraq implement the reforms of the International Monetary Fund?", Noting that "the package of economic reforms adopted by the International Monetary Fund, which Iraq is expected to implement some of them in 2021, consists of the following: :

1- Decreasing the national currency exchange rate

2- Raising the interest rate and setting credit ceilings

3. Gradual reduction of government support system" rel="">support for government goods and services

4. Reducing public spending on goods and services

5. Reducing the salary clause and limiting the appointment of graduates in government institutions

6. Restructuring and privatizing the losing public sector enterprises

  1. Reducing the transfer expenditures items of a social nature, especially with regard to subsidizing the prices of essential commodities
  2. Raise energy prices to the level of international prices
  3. Raising tax rates, increasing their proceeds, reorganizing them, creating other tax vessels or imposing direct taxes or policies for indirect taxes, as well as increasing the base of taxpayers, limiting tax exemptions, developing collection methods and combating tax evasion

10. Liberation of all prices and trade liberalization

https://yesiraq.com/ 

 

5 minutes ago, DinarThug said:

Concerning the currency, salaries and commodity prices ... 10 economic measures and "radical" financial changes that Iraq is expected to implement next year.

 

2020-09-27

 

602x338_cmsv2_77374c7f-5fd9-52af-8a83-eb


 

Yes Iraq: Baghdad

 

Today, Sunday, the economic and oil expert, Nabil Al-Marsoumi, revealed reforms to the International Monetary Fund that Iraq is expected to implement some of them during the next year 2021.

 
 

Al-Marsoumi said in a blog posted by "Yes Iraq", asking: "Will Iraq implement the reforms of the International Monetary Fund?", Noting that "the package of economic reforms adopted by the International Monetary Fund, which Iraq is expected to implement some of them in 2021, consists of the following: :

1- Decreasing the national currency exchange rate

2- Raising the interest rate and setting credit ceilings

3. Gradual reduction of government support system" rel="">support for government goods and services

4. Reducing public spending on goods and services

5. Reducing the salary clause and limiting the appointment of graduates in government institutions

6. Restructuring and privatizing the losing public sector enterprises

  1. Reducing the transfer expenditures items of a social nature, especially with regard to subsidizing the prices of essential commodities
  2. Raise energy prices to the level of international prices
  3. Raising tax rates, increasing their proceeds, reorganizing them, creating other tax vessels or imposing direct taxes or policies for indirect taxes, as well as increasing the base of taxpayers, limiting tax exemptions, developing collection methods and combating tax evasion

10. Liberation of all prices and trade liberalization

https://yesiraq.com/ 

 

Comment By Delta In Parenthesis - On Item Number One From The List In The Article Above...

 

:D  :D  :D 

 

 

1- Decreasing the national currency exchange rate....

 

( MEANS RAISE VALUE HERE) 

 

DELTA  

  • Like 9
  • Thanks 3
  • Upvote 2
Link to post
Share on other sites

The history of the Iraqi Central Bank

When Iraq was part of the Ottoman Empire, a number of European currencies were in circulation alongside the Turkish pound. After the occurrence of the British mandate after the First World War, Iraq merged with the Indian monetary system administered by the British, and the rupee became the main currency in circulation at a price of one dinar = 13.33 rupees.
»(1950-1930)
In 1931, the Iraq Currency Board was established in London for the purpose of issuing paper currency and maintaining reserves of the new dinar currency. The Currency Board pursued a conservative monetary policy by keeping very high reserves as a cover for the dinar. The strength of the dinar was strengthened by its peg to the British pound, where it was pegged to the parity rate with the British pound until 1959.
In 1947, the Iraqi National Bank was established, which is a government bank, and the currency board was canceled in 1949, which was established in London if the new bank took over the responsibility of issuing paper currency and maintaining the reserve. The Iraqi National Bank continued to follow the conservative monetary policy and to keep 100% of the reserves as a cover for the existing local currency.
During the last years of the Ottoman rule, commercial banking became an important factor in foreign trade during the British Mandate. British banks dominated, but the traditional cash agents continued to grant some domestic credit and provide limited banking services. The expansion of banking services was hampered by the limited use of cash, the small size of the economy, and the meager amounts of savings as banks provided services for foreign trade almost exclusively. In the mid-thirties, the Iraqi government decided to establish banks for the purpose of providing credit to other sectors of the economy. In 1936, the government established the Agricultural and Industrial Bank. In 1940 the bank split into the Agricultural Bank and the Industrial Bank, and the capital provided by the government for each increased dramatically. The government established the Rafidain Bank in 1941 to be the main commercial bank with the Central Bank, but the National Bank of Iraq became the government bank in 1947. Then the real estate bank was established in 1948 and its main purpose was to finance the purchase of houses by individuals, and the mortgage bank was established in 1951 and the cooperative bank 1956. In addition to these governmental banks, branches of foreign banks and private Iraqi banks opened as a result of the expansion of the economy.

»(1990-1950)
In 1956, the National Bank of Iraq became the Central Bank of Iraq. His responsibilities included issuing and managing currency, supervising foreign exchange transactions, and supervising and controlling the banking system. The bank maintained government accounts and administered government loans. Over the years, legislation expanded the powers of the Central Bank. In 1959, the peg shifted from the British pound to the US dollar, at a rate of one dinar = 2.8 dollars.
On July 14, 1964, all banks and insurance companies were nationalized, and banking was strengthened during the second decade. And in the wake of the decline in the value of the dollar in 1971 and 1973, the value of the Iraqi dinar rose to the equivalent of $ 3.3778 per dinar.
By 1987 the banking system consisted of the Central Bank of Iraq, the Rafidain Bank, the Agricultural Bank, the Industrial Bank and the Real Estate Bank. The 5% devaluation of the dinar led to a decline in its value to 3.2169 dollars, which is the official rate that continued until the Gulf War, although in late 1989 the black market price recorded 1.86 dinars to one dollar.

»(1990-2003)
After the Gulf War in 1991, due to the imposition of the economic embargo, the Swiss printing technology was no longer used as before. A new issue of poor quality paper money appeared. The previous issue became known as the Swiss Edition and continued in circulation in the Kurdistan region of Iraq. In view of the excessive government printing of new securities, the value of the dinar decreased rapidly, reaching 3000 dinars per dollar in late 1995.

»(2003-today)
Following the ouster of Saddam Hussein when the invasion of Iraq in 2003, the Governing Council and the Office of Reconstruction and Humanitarian Aid began printing more of Saddam Hussein’s paper currency as a temporary alternative measure to maintain the money supply until the new currency was introduced.
The Banking Law was issued on September 19, 2003, which made the legal framework for Iraq in the field of banking consistent with international standards. The law seeks to enhance confidence in the banking system by establishing an open, secure, sound and competitive banking system.
During the period between October 15, 2003 and January 15, 2004, the Coalition Provisional Authority issued a new Iraqi coin and paper currency, in which paper currencies were printed using anti-counterfeiting techniques in order to create a single, unified currency to be used throughout Iraq and to make the money more suitable for use in the daily life of the public. The old paper currencies were replaced by the new paper currencies at the price of one old dinar equivalent to one new dinar, with the exception of the Swiss dinars, which were replaced by the price of an old Swiss dinar equivalent to 150 new dinars.

The Central Bank of Iraq was established as an independent Iraqi bank under the Law of the Central Bank of Iraq issued on March 6, 2004, and the bank is responsible for:
Maintaining price stability
Implementation of monetary policy (including exchange rate policies)
Managing foreign reserves
Issuing and managing currency
Regulating the banking sector to promote a competitive and stable financial system

The bank's head office is located in Baghdad and has four branches in (Basra, Mosul, Sulaymaniyah, and Erbil).

#iraq

Capture.PNG

  • Thanks 2
  • Upvote 3
Link to post
Share on other sites
[image]

 

Iraq: Baghdad

The economist Ahmed Al-Salami wrote an explanation about some countries deleting zeros from their currency and the possibility of applying them in Iraq, while referring to the possibility of making the Iraqi currency strong and has global demand, in what he described as the free dinar.

 

"Iran will soon delete four zeros from its currency and convert it from the riyal to the new toman officially and have completed the legal series for that, and at that time it will be 100 dollars equal to 300 toman only instead of 3 million tomans or 30 million riyals," Al-Salami said in a clarification received by "Yes Iraq." .

He added: "A digital deception previously carried out by the United States, Italy and Turkey, the United States deleted its dollar currencies with zeros against the previous European currencies, the French franc, the German mark and the English pound, and canceled the $ 10,000 currency and the $ 1,000 currency and withdrew it from banking and personal circulation forever."

He continued: “Italy also re-zeroed the Italian lira, adjusted its value and deleted six zeros from it, and the million lira turned into one lira and a hundred million lira into 100 lira before it was merged with the euro currency in 2002, as well as that of Turkey, which converted one million Turkish liras into one lira and converted one hundred million pounds One hundred Turkish liras only ”.

He explained: “Suddenly, the Turkish currency was circulated and used abroad for circulation, and it entered Iraq and was used for dealing and the exchange rate as a store of value, and whoever used to work in the Shorja knows this after the Turkish currency was forgotten throughout the nineties and eighties and was an attempt to integrate Turkey with European economic values.”

And that "the current Iraqi dinar differs slightly because the Iraqi economy is consumerist, but that does not prevent it. It is possible to apply that and use the deleted Iraqi currency zeros by buying and importing industrial production lines for the manufacture of basic and luxury goods as much as possible, and this will revive the exchange rate of the dinar and the demand for it externally and shrinking." Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros.

 

[image] 
 

[image]

 

2 hours ago, DinarThug said:
[image]


 

Iraq: Baghdad

The economist Ahmed Al-Salami wrote an explanation about some countries deleting zeros from their currency and the possibility of applying them in Iraq, while referring to the possibility of making the Iraqi currency strong and has global demand, in what he described as the free dinar.

 

"Iran will soon delete four zeros from its currency and convert it from the riyal to the new toman officially and have completed the legal series for that, and at that time it will be 100 dollars equal to 300 toman only instead of 3 million tomans or 30 million riyals," Al-Salami said in a clarification received by "Yes Iraq." .

He added: "A digital deception previously carried out by the United States, Italy and Turkey, the United States deleted its dollar currencies with zeros against the previous European currencies, the French franc, the German mark and the English pound, and canceled the $ 10,000 currency and the $ 1,000 currency and withdrew it from banking and personal circulation forever."

He continued: “Italy also re-zeroed the Italian lira, adjusted its value and deleted six zeros from it, and the million lira turned into one lira and a hundred million lira into 100 lira before it was merged with the euro currency in 2002, as well as that of Turkey, which converted one million Turkish liras into one lira and converted one hundred million pounds One hundred Turkish liras only ”.

He explained: “Suddenly, the Turkish currency was circulated and used abroad for circulation, and it entered Iraq and was used for dealing and the exchange rate as a store of value, and whoever used to work in the Shorja knows this after the Turkish currency was forgotten throughout the nineties and eighties and was an attempt to integrate Turkey with European economic values.”

And that "the current Iraqi dinar differs slightly because the Iraqi economy is consumerist, but that does not prevent it. It is possible to apply that and use the deleted Iraqi currency zeros by buying and importing industrial production lines for the manufacture of basic and luxury goods as much as possible, and this will revive the exchange rate of the dinar and the demand for it externally and shrinking." Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros.

 

[image] 
 

 

[image]

 

The Quote In Pink From The Article Above Is Followed By A Comment By MilitiaMan ...

 

:D  :D  :D  

 

 

Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros.

 

 

The point to me is that the economists makes the about the new currency may be revolutionary and digital with association to cards to gain confidence, by deleting the zeros. By deleting the zeros with his perspective in mind will strengthen the currency.. I agree.. Lets see how it plays out. There being public debate on the topic is a very good sign. imo ~ MM

 

PS, the notes are said to be conceptual.. imo

 - MilitaMan

 

Edited by DinarThug
  • Like 1
  • Thanks 1
  • Upvote 6
Link to post
Share on other sites

The central bank imposes a fine on the shortage of small groups

Saturday 03 October 2020

alsabaah-48094.jpg

 

The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1,000,500,250) dinars, starting from the date of October 1, 2020, according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

LINK 

 

5 hours ago, DinarThug said:

The central bank imposes a fine on the shortage of small groups

 

Saturday 03 October 2020

 

alsabaah-48094.jpg

 

The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1,000,500,250) dinars, starting from the date of October 1, 2020, according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.
LINK

 

Comments By MilitiaMan ...

 

:D  :D  :D 

 

 

This was what was in the news just over two years ago now. They plan on restructuring the currency back then and are still planning on it now. imo ~ MM

 

Monday
September 17, 2018

"He added that "the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to deliberate steps, and a stable situation in order not to be exploited in the work of fraud and others." 

 

October 01, 2020 is the USAs start of the new 2021 fiscal year. Which happens to be 2 years to the day from October 04, 2018. Interesting 2 year timing of things. Notice below.  ~ MM

 

Thursday
October 04, 2018

""Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

 

The beginning above article says they started the process of fines in respect to the currency on October 01, 2020, a Thursday, last banking day of the present week. The below is what was on a Monday two years ago. ~ MM

 

Monday
October 8, 2018

""The world is beginning to turn into plastic prints, Malaysia, so the currency is long and non-perishable and counterfeit, and here we call on the Central Bank of Iraq to take the same step because the life span of the current paper currency does not exceed 6 months," suggesting "conversion Coins of small groups of paper to metal and thus longer life
link

Wednesday
October 10, 2018

"On Sunday, the Central Bank issued its second edition of the banknotes (25000, 10000, 1000, 500 and 250) dinars, while noting that the new currency included writing the name of the governor instead of signing it in the old version, in line with what is followed Now in other countries, and the dates Hijri and Gregorian dates have been modified (1440 H-2018 AD). 

The bank issued a clarification on the new currencies, indicating that it is entitled to determine the categories of coins and metals, paper and its dimensions, forms, material, content, weight and design.

"The second point of Article 33 of the law of the bank says that {the Central Bank of Iraq is making the necessary arrangements for the printing of paper currency and coins and for the purpose of providing security and safety for the preservation of paper and metal coins that have not been issued) and we say whether the change of currency means that The old was unsafe? " 

link

 

They were going to do the MR two years ago. But they didn't have the security and stability they have now. Looking so very good. Lets hope International Day turns into a new international currency for the citizens.. If not, shortly..  imo ~ MM

  - MilitiaMan

  • Like 1
  • Thanks 5
  • Upvote 9
Link to post
Share on other sites
6 hours ago, DinarThug said:

From Delta ...

 

:D  :D  :D  
 

FROM IRAQI TV....

 

"An informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed"

 

  "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation." 

 

"white paper will be presented to Al-Kazemi during this week and after that to the House of Representatives." 

 

DELTA 

 

...a radical happy dance, for RADICAL SOLUTIONS!!

giphy (4).gif

  • Like 1
  • Haha 10
Link to post
Share on other sites

 

11 hours ago, DinarThug said:

From Delta ...

:D  :D  :D  

FROM IRAQI TV....

 

"An informed source reported that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, regarding the economic situation that Iraq is going through, has been completed"

 

  "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation." 

 

"white paper will be presented to Al-Kazemi during this week and after that to the House of Representatives." 

 

DELTA 

 

LINK

Al-Kazemi reformatory paper is completed

 

image.jpeg.4dc95af478ba83b5233967a851a0c1cb.jpeg

 

5th October, 2020


An informed source stated that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, related to the economic situation that Iraq is going through, has been completed. The source said that “the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the Council. Representatives

He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."

The Minister of Finance, Ali Abdul-Amir Allawi, confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.

Allawi said in a statement to the official agency, that “the budgets for the years 2021-2023, we started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may be hindered for a year and a half so that we can move from the method of drawing the budget. Traditional to balance programs”.

He pointed out that "citizens will not respond to taxes, and they may have a justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality." He added, "Tax revenues constitute a very small percentage of the state's resources, which are not high if compared to any other country, as the tax structure is reasonable in Iraq." He explained, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions." He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have an influence and influence on the decision-making." 

  • Upvote 6
Link to post
Share on other sites
On 10/3/2020 at 5:11 PM, DinarThug said:

The central bank imposes a fine on the shortage of small groups

Saturday 03 October 2020

alsabaah-48094.jpg

 

The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1,000,500,250) dinars, starting from the date of October 1, 2020, according to the instructions of the standards for circulation and replacement of banknotes and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

LINK 


Comments By MilitiaMan Referencing The Article Quoted Above And The Two Below Regarding Today’s ‘Reform Paper’ Article In The Previous Post Immediately Above ...

“Al-Kazemi reformatory paper is completed”
 

Fairly sure they are ready to roll now.
They implemented the first step today.

Buna was launched in Feb, 2020..

CBI has warned banks with fines to not be short from the looks of it in the small categories notes.

Why? They'll be needed,

as they will be considered to be large in the future..

Make sure you have accurate accounts.. imo..

Yes, the borders will need to be linked accordingly for payments,

taxes, tariffs, etc..

All neighbor countries are aparently interconnected by BUNA electronically..

The first steps was in classify the banks or imo interlink.

They can talk to each other with the platform.

They can use clear and settle multi - currencies..

It doesn't get much better than this now.

The cat is out of the bag now..

The CBI and the AMF are in kahoots.. lol Love it..

The reform paper has been completed.

The are now implementing the steps by interlinking..

Oh ya!!

What's the next step?

Well if they can talk to each other in Multi- currencies,

well they need to know what the rates for pairing them.. imo ~ MM

 

  - MilitiaMan

 

 

12 hours ago, DinarThug said:

The Central Bank begins implementing steps to reform the banking sector

image.jpeg.b8fe99594dd44269108fc2512bbb4f8a.jpeg
 

 

5th October, 2020

 

Today, Monday, the Central Bank of Iraq began implementing its first reform steps for the banking sector, as it finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank
 
 This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector

 

This bank confirms that it had previously asked the lagging banks more than once to work on correcting their situation and paying their customers' dues. Therefore, this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders
 
Finally, we announce that the next stage will include the process of "reforming government banks as well," noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. (56) of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued pursuant to them

 

      The Central Bank of Iraq   Information Office, 5th of October 2020

               Baghdad

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

 Central Bank: Direct implementation of steps to reform the banking sector  LINK

 

On 10/4/2020 at 10:00 AM, DinarThug said:

Saleh stresses the need to strengthen the country's financial position and maintain the independence of the Central Bank

Saleh stresses the need to strengthen the country

10/04/2020 14:15:04

The President of the Republic, Barham Salih, received today, Sunday, at Baghdad Palace, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Al-Kitab.
 
At the outset of the meeting, according to the media office of the Presidency of the Republic, Saleh congratulated "the book on the occasion of his assumption of the position of Central Bank Governor, wishing him success in performing his duties. During the meeting, the monetary and financial situation in the country was discussed in light of the current challenges."

The president stressed, "the need for the independence of the central bank, and strengthening the country's financial situation by diversifying the state's resources and pursuing a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and low oil imports."

For his part, the book reviewed, "the current functioning of the Central Bank on the financial and monetary situation, and the steps taken to reduce the economic repercussions, appreciating the President's support to achieve the goals of improving the financial and monetary situation and providing the necessary services to citizens."

 

 

  • Like 5
  • Upvote 7
Link to post
Share on other sites

LINK

Paying employees' salaries, starting tomorrow, Wednesday

Paying employees

10/06/2020 18:39:45

 
The Ministry of Finance announced that the salaries of employees will be paid, starting tomorrow, Wednesday.

"According to the directives of Prime Minister Mustafa Al-Kazemi, the Ministry of Finance confirms that late payments of public sector salaries for the month of September will begin to be paid in full, starting tomorrow, Wednesday (10/7/2020) and the following days," the ministry said in a statement received by Al Furat News.

The ministry indicated that it is "obligated to fulfill its legal obligations despite the acute shortage of revenues facing the country, and looks forward to cooperating with the House of Representatives and the relevant authorities in order to develop quick solutions to address the current economic and financial crisis."

The ministry added that it would like to point out that "the financial pressure in the country will continue in the foreseeable future, as the country's main source of income from oil exports will be constantly affected by the global decline in demand and the massive outbreak of the Corona pandemic."

It indicated that it "appreciates the urgent demands on the federal budget from all directions. Iraq is facing an economic emergency that will be bypassed by national unity and cooperation between all parties." She pointed out that "the task force led by the ministry has completed the" white paper "for economic reform, and the ministry is about to finalize the 2021-2023 budget. We are confident that the reform and change process will lead to a more robust economy and contribute to raising the living standards of our people.

4 minutes ago, DinarThug said:

Representative Finance: The salary crisis is fabricated and the state's revenues are sufficient to secure it

المالية النيابية: أزمة الرواتب مفتعلة وإيرادات الدولة كافية لتأمينها

10/06/2020 15:55:06

The Parliamentary Finance Committee confirmed, on Tuesday, that there is no crisis in the salaries of employees.

"We hope that Al-Kazemi will solve the salary crisis within 24 hours, as he stated, and we are not responsible for his statements," committee member Majid Adab said in an interview with Al-Furat News. "This crisis is fabricated, and it is a political crisis par excellence, and we provide the media with information about the reality of what is happening through members of the House of Representatives, and we believe that there is no crisis in salaries basically." "The success of the government is reflected in the parliament, with a lack of pressure from citizens and a lack of resentment, and we wish the government’s success in its work," he added.

He pointed out that "the revenues are the responsibility of the government, whether maximizing or distributing revenues, and salaries is the responsibility of the government. There is no need for parliament in this matter, neither to legislate a law nor pass a resolution, and all the powers are granted to the government," stressing that "oil is exported naturally in addition to the existence of other revenues such as taxes." Customs, agriculture and others."

It is noteworthy that the government is facing a severe financial deficit in securing the salaries of employees, while Prime Minister Mustafa Al-Kazemi announced during his visit to Dhi Qar province on Monday that the salary crisis will be resolved today {yesterday}. 

 

Comments By MilitiaMan On The Two Articles Above ...

 

:D  :D  :D 


 

So as we can see the Government is telling the people that the government is in charge and responsible to pay the salaries,
just as they are in charge of the taxes, customs, agriculture, etc..

The PM is on record that he intends to begin tomorrow,

yet he even said so yesterday, too.

The white papers are completed,

therefore, to pay salaries,

then they'll need to give notice or they they just did give it,

in the above statements by the PM.

What the white papers have is imo the rate at to which they will be paid.

My view is that they have every intention to go to a market economy,

therefore, the rate should not be at a program rate.

Hence, that is why they had taken so long in paying them.. 

The next play is the citizens get message by text or what have you..

They are down to the wire and have called for holidays,

at a very interesting time too...

This is getting so good now.. imo! Love it! ~ MM 000071medium_gif 
 

  - MilitiaMan

  • Like 6
  • Thanks 1
  • Upvote 5
Link to post
Share on other sites

Be a part of the family of financial inclusion in Iraq For the first time, an Iraqi superhero flies in Baghdad sky.. No, and a super girl missed it.. Follow the story of the superhero ′′ banker womam ′′ who fights every criminal with the goal of influencing people's livelihood.

  • Like 1
  • Haha 2
Link to post
Share on other sites

 

The executive director of the Iraqi Private Banks Association, Ali Tariq, Chairman of the Board of Trustees of the Iraqi Media Network, Jafar Alonan, and both parties discussed the importance of media in supporting the banking sector by increasing banking culture and supporting banking products and agreed to increase media cooperation between the Private Banking Association The Iraqi media network, in addition to creating a banking news section in Iraqi media network institutions such as the Iraqi News Agency ′′ Ware ′′ and creating a banking attachment in Al-Sabah newspaper. At the end of the meeting, it was agreed to repeat meetings between the Private Banking Association and the Iraqi Media Network to support the media banking sector, reflecting positively on the economy.Image may contain: 4 people, indoor
  • Upvote 1
Link to post
Share on other sites

The CEO of the Iraqi Private Banks Association, Ali Tariq, Chairman of the Securities Authority, visited Mr. Faisal Al-Hemis, in his office, in giving him congratulations on the occasion of his new position and wishing him success, and the parties also discussed the role and size of the banking sector in the market Iraq Securities and mechanisms for improving the performance of bank shares, as well as increasing bilateral cooperation between the Authority and the Association.120943831_2733371883599741_9463999072392

Link to post
Share on other sites
1 hour ago, 6ly410 said:

2020/10/07 

European Bank governors agree to include Iraq among the shareholders

https://almasalah.com/ar/news/198750/محافظو-البنك-الأوروبي-يوافقون-على-إدراج-العراق-ضمن-المساهمين


148004.jpg.e61c3d7d624b5394f14f553691f47d8b.jpg

 

Baghdad / Al-Masala: The governors of the European Bank for Reconstruction and Development approved, on Wednesday, October 7, 2020, Iraq’s request to become a shareholder in the bank.

The request was approved during the annual meeting of the bank, which was held in a virtual session due to the outbreak of the Coronavirus.

The European Bank for Reconstruction and Development (EBRD) is a multilateral development bank that uses investment as a tool to help build market economies and was founded in 1991.

Follow the obelisk - agencies


From Delta ...

 

:D  :D  :D 

 

Today, Wednesday, the governors of the European Bank for Reconstruction and Development 000068medium_gifapproved Iraq's request to become a shareholder in the bank.

 

Approval of the inclusion of Iraq among the shareholders of the European Bank

 


The request was approved during the bank's annual meeting held in a virtual session due to the outbreak Corona Virus.

And the European Bank Reconstruction and Development (EBRD) is a multilateral development bank that uses investment as a tool to help build000068medium_gif market economies and was founded in 1991

Edited by DinarThug
  • Thanks 1
  • Haha 1
  • Upvote 2
Link to post
Share on other sites


10-7-2020   Newshound Guru MilitiaMan   Article:  "Paying employees' salaries, starting tomorrow, Wednesday"  ...the Government is telling the people that the government is in charge and responsible to pay the salaries, just as they are in charge of the taxes, customs, agriculture, etc...The PM is on record that he intends to begin tomorrow, yet he even said so yesterday, too. The white papers are completed...What the white papers have is imo the rate at to which they will be paid My view is that they have every intention to go to a market economy, therefore, the rate should not be at a program rate. Hence, that is why they had taken so long in paying them...They are down to the wire and have called for holidays, at a very interesting time too...This is getting so good now...imo! Love it!
 

  • Upvote 6
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.




×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.