Iraq Admits US Sanctions Are Good For Banking.

[Luigi1]

Here's some articles of Dinarian interests...

Economist: reveals the reason why US sanctions.

US-Iraq cooperation after US exit will continue.

Treat as rumors.  Not verified.  Your opine.

 

 

 

 

Tlm724 Administrator Bondlady’s Corner:                An Economist Reveals The Reason For US Sanctions On Iraqi Banks.

ARTICLE:  Economist Safwan Qusay attributed the reasons for the US sanctions on Iraqi banks to a lack of data.

 

Safwan said in a televised interview, followed by a news agency, that “the availability of data & clarification of where the Iraqi Dinar comes from will restore confidence in the financial banking system,” calling for “the necessity of the private sector & government units turning to electronic dealing.”

 

He pointed out that "the conversion process needs time, in light of the lack of a safe environment for the transfer of the Iraqi Dinar between the seller & the consumer."

 

He stressed that “paper transactions encourage corruption, as the corrupt cannot be granted a commission through an electronic card,” pointing out that “paper transactions contribute to the possibility of manipulating the value of the sold commodity.”

 

Safwan revealed during his speech: “International investment is currently looking to enter forcefully into the Iraqi market,” adding that “the reasons for the American sanctions on Iraqi banks are due to the lack of data.” 

 

 

 

From Other Sources:                   Al-Sudani Makes Comments On US Sanctions: We Will Not Abandon The Private Banking Sector.

ARTICLE"  PM, Muhammad Shiaa Al-Sudani, confirmed that there were observations about the UST sanctions on Iraqi banks, while indicating that the government would continue to support the private banking sector.

 

Al-Sudani said, in a press conference, followed by a news agency, that “the government has made important strides in making Iraq’s trade clear despite the challenges that appear from time to time,” adding: “Today, all of our trade passes through the electronic platform & through the audit of the K. Tu), that is, there are documented financial transfers.”

 

He added, "The decisions issued by the UST regarding Iraqi banks, on which we have more than one observation, are decisions related to observations on the performance of banks in previous governments, not the current government."

 

The PM stressed, "During the current period, financial transactions & transfers of Iraqi trade pass through a clear electronic platform in front of financial institutions, which is why this process has gained reliability."

 

Al-Sudani explained, "The government continues to support the private banking sector & it cannot be abandoned.  We are working to address all observations in its performance & improve it so that it can be a partner with us for the desired development process in the country."

 

 

 

From Other Sources:                  CBI: Compliance & Governance Are Important In Bank Management.

ARTICLE:  The CBI recognized the importance of compliance & governance elements in bank management in general, while the General Council of Islamic Banks and Financial Institutions expected greater growth for banks in the coming years.

 

In a statement reported by Al-Sabah newspaper, seen by a news agency, Deputy Governor of the CBI, Ammar Hamad Khalaf, stressed the importance of the issues of compliance & government, pointing out that relying on them leads to good management of financial institutions & they are elements of their success.

 

He added that the banks have launched a governance guide that focuses on the issue of bank leaders & employees, choosing the best & providing full support & training courses for the human resources of banks, especially Islamic ones, pointing out that the compliance element is important for the performance of banks & the higher it is, the greater the risk is guaranteed to be reduced & the financial institutions to be sound.

 

For his part, the Secretary-General of the General Council of Islamic Banks and Financial Institutions, Abdelilah Belatiq, pointed out in an interview with “Al-Sabah” that governance & compliance are the basis of good management of institutions in general, in addition to that they add great importance to banks, because their mission, including Islamic ones, is the fuel.

 

 

 

 

From Other Sources:                     After Her Meeting With Sudanese...The American Ambassador: Together We Can Guarantee Iraq’s Security, Stability & Sovereignty.

ARTICLE:  The US Ambassador to Iraq, Elena Romanowski, revealed the details of her meeting with Prime Minister Muhammad Shiaa Al-Sudani.

 

Romanowski said in a blog post on the “X” website: “I discussed the progress made in the work of the Supreme Military Committee and ways to enhance economic cooperation with PM Muhammad Shiaa Al-Sudani.”

 

She added: “I look forward to continuing discussions about the international coalition transition process & expanding the partnership.” Comprehensive American-Iraqi.”

 

She concluded her post by saying: “Together we can ensure Iraq’s security, stability & sovereignty.

 

 

 

 

[Luigi1]

Here's another article related to the above...A new Iraqi 3 day holiday declared this week-end...

 

 

TNT via CandyKisses:                  Karbala To Suspend Working Hours Next Sunday & Monday.

ARTICLE:  The head of the Karbala Provincial Council, Qassim Al-Yasari, announced this evening, Wednesday (February 21, 2024), the suspension of official working hours for next Sunday & Monday on the occasion of the Shabani visit.

 

The leftist said in a statement received by "Baghdad Today", that "on the occasion of the anniversary of the birth of Imam Mahdi (pbuh), we directed to suspend the official working hours on Sunday and Monday, 25 and 26 of this month, for all departments of the province, except for the security &^ service departments."

 

"The local holiday comes because of the presence of Husseiniya processes & to enable the people of the province to provide services to visitors," he said.

[pokerplayer]

34 minutes ago, Luigi1 said:

Here's another article related to the above...A new Iraqi 3 day holiday declared this week-end...

 

 

TNT via CandyKisses:                  Karbala To Suspend Working Hours Next Sunday & Monday.

ARTICLE:  The head of the Karbala Provincial Council, Qassim Al-Yasari, announced this evening, Wednesday (February 21, 2024), the suspension of official working hours for next Sunday & Monday on the occasion of the Shabani visit.

 

The leftist said in a statement received by "Baghdad Today", that "on the occasion of the anniversary of the birth of Imam Mahdi (pbuh), we directed to suspend the official working hours on Sunday and Monday, 25 and 26 of this month, for all departments of the province, except for the security &^ service departments."

 

"The local holiday comes because of the presence of Husseiniya processes & to enable the people of the province to provide services to visitors," he said.

 

That's it. I'm dumping my dinars so I can start a Hallmark Greeting Card store in Iraq 🇮🇶 with all the holidays they have, I'm going to be rich !!

 

pp

[Luigi1]

26 minutes ago, pokerplayer said:

 

That's it. I'm dumping my dinars so I can start a Hallmark Greeting Card store in Iraq 🇮🇶 with all the holidays they have, I'm going to be rich !!

 

pp

 

GOI may not be very good at voting & approve key legislation or getting anything accomplished...

but they are very efficient at creating new holidays & other ways to avoid work.