WOTS MON MAR 15 21
These are the articles I discussed on the My FX Buddies podcast at: https://anchor.fm/dashboard/episode/esm5qp
Al-Halbousi cancels all deputies’ vacations and changes the date of today’s session
The Speaker of Parliament directed to cancel all leave for deputies for today’s session, Monday, and the next sessions, in order to complete the Federal Court laws and the general budget for 2021.
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A representative source told the Euphrates News Agency that “it has been decided that today’s session will be held at seven in the evening.”
Parliament was scheduled to hold its session today at 11 am, but the lack of a quorum postponed its convening.
It is scheduled that the parliament will complete voting on the remaining articles of the Federal Supreme Court law today.
Capital Bank” prepares for a new banking start in Jordan and Iraq
Amman,
Chairman of the Board of Directors of Capital Bank, Basem Khalil Al-Salem, inaugurated the new building of Capital Bank in the Abdali area, announcing a new banking start for the Capital Bank Group led by innovation and digital transformation, after its expansion in Jordan and Iraq and the increase in the value of its assets to nearly 3.5 billion Jordanian dinars Shareholders’ equity in the group also increased to nearly 400 million dinars, making it one of the largest Jordanian banks operating in the local banking market.
In his opening speech and holding the first meeting of the Board of Directors in the presence of the executive management, Al-Salem stressed that Capital Bank Group will work to achieve maximum benefit from future growth opportunities, and to develop the volume of its business in the main markets in which it operates, especially after the number of Capital Bank branches in Jordan increased to 28 and number The branches of the National Bank of Iraq to 18 branches in Iraq, indicating that Jordan is a promising strategic market with attractive opportunities for investment, especially as it has a number of unique features represented in its unique geographical location and distinct demographic characteristics in addition to the strength of its banking sector.
He said: “During the past few years, Capital Bank Group was able, thanks to its ambitious strategy, to consolidate and maximize its role and economic and investment impact in the Jordanian and Iraqi markets, and today the group completes this pioneering march and takes new steps towards strengthening its competitive position and expanding its local and regional reach, especially since the group is the banking institution. The only Jordanian woman who owns a bank in Iraq ».
For his part, Chief Executive Officer of Capital Bank, Dawood Al-Ghoul, explained that the executive management of Capital Bank, with the support and support of the Board of Directors, is implementing an ambitious strategy to transform the bank into a distinct digital banking model in the Jordanian market that adopts digital transformation in its various operations and provides an advanced and innovative banking experience to its individual customers. And companies with the highest level of efficiency and quality according to the latest international standards, pointing out that Capital Bank is one of the first Jordanian banks to provide financial services through digital platforms such as the iCa chatbot service on Facebook and then on WhatsApp.
Al-Ghoul said that Capital Bank is also a pioneer in providing the opportunity for resident and non-resident Jordanians to open electronic accounts through WhatsApp without the need to visit branches, promising customers a comfortable and safe banking experience that enhances their experiences with Capital Bank.
First Iraqi Bank selects ICS BANKS from ICSFS to begin operations in Baghdad
First Iraqi Bank (FIB), a newly established digital bank in Iraq, has selected ICS BANKS Digital Banking platform from ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, to start its operations in Baghdad, Iraq.
First Iraqi Bank floated an international RFP, where many international vendors were evaluated, though which ICS Financial Systems was chosen for having a strong base of detailed market knowledge, in-depth business and technology expertise, and cognitive skills.
Shaymaa Ali Hussein, Managing Director of First Iraqi Bank shared, “The need for a digital bank in Iraq today is long overdue since it is dominantly a cash society. Through our experience, having cutting edge technology, digital banking is the next logical step. We shall aim to provide Iraqi citizens with innovative, convenient, secure and affordable banking services and solutions.” Mrs. Ali Hussein continued “FIB is not only a bank, it also provides a new way of finance to Iraq, that will lead the Iraqi financial infrastructure to a new era. In order to ensure success, First Iraqi Bank understood that developing the digital banking software, meant that the most sophisticated solution had to be created, and thus, choosing ICS BANKS from ICSFS was made. Our mission is to be the most efficient and innovative provider of leading and integrated products and services in the region. First Iraqi Bank chose ICS Financial Systems’ digital banking software solutions as they showcased outstanding functionalities and features that cover our current and future digital banking needs. We are happy with our selection and are looking forward to expanding our banking services using ICSFS’ cutting-edge technologies.”
FIB will be the first bank in Iraq to provide digital banking solutions. ICSFS has been servicing the banking sector for over 3 decades now, providing banking and financial software solutions. ICSFS is the first provider of a fully digital banking software solutions in Iraq, with a customer-first approach and streamlined services.
“With our holistic digital banking platform, First Iraqi Bank will enjoy every single characteristic of ICS BANKS Digital Banking software solutions.” Commented Wael Malkawi, Executive Directive of ICS Financial Systems – ICSFS. “Digital banking is the new norm now, as many customers around the world are choosing digitised over traditional banking services, especially with the lock-down and social distancing we are experiencing right now. We assure First Iraqi Bank, they will accelerate their digital business growth, boost process efficiency and accuracy, maximise profitability, and minimising their costs using ICS BANKS Digital Banking software solutions.”
ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suite future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility.
Central Baghdad ... a demonstration to demand the lifting of the embargo and the treatment of high food prices
If you see the picture it is more than dozens
Dozens of citizens demonstrated, on Monday, in the Karrada district, in the center of the capital, Baghdad, to protest against the high prices of foodstuffs, and to reject the ban measures.
Our correspondent indicated that "Dozens of citizens demonstrated this morning in Kahramana Square in the Karrada district in the center of the capital, in protest against measures to confront Corona, as well as the rise in food prices due to the government's monetary policy."
Our correspondent pointed out that "the demonstrators condemned the government of Prime Minister Mustafa Al-Kazemi, for not providing realistic solutions to confront the Corona pandemic, as well as their dissatisfaction with raising the prices of foodstuffs."
Our correspondent stressed that "the demonstrators demanded the lifting of the health curfew, and the treatment of high prices, as the citizen is the only one affected by that process.
Iraq ranks low in the evaluation of "attracting investment" .. Learn about the indicators of strength and weakness that Iraq has acquired
Iraq ranked 105 out of 109 countries in the evaluation of the most attractive countries for investment for the year 2020.
Iraq achieved a rate of 23.7, while the evaluation includes a set of factors including stability of economies, financial structure, institutional environment, basic requirements, market potential and ease of access to the market, natural and human resources, material costs, logistical performance, communications and information technology, main factors, economics of agglomeration, Technical environment and privileges, external factors influencing.
The proportions of Iraq were very late in: the institutional environment, logistical performance, technical environment, financial structure.
As for the high percentages in Iraq, they were in: economic stability, natural and human resources, the main factors.
This report measures the extent of the attractiveness of countries ’economies to foreign investment for various countries, and despite the high percentage of Iraq compared to 2019, Iraq has maintained its position among countries.
The United Arab Emirates topped the Arab countries, ranking 24th in the world, followed by Qatar in 42nd, Saudi Arabia in 44th, and Kuwait at 46th.
As for the most attractive countries, the United States was in first place, then Switzerland in second place, and Sweden in third place.
The Secretary General of the Council of Ministers discusses with the German ambassador the international effort to support stability in the liberated areas
The Secretary-General of the Council of Ministers, Hamid Naeem Al-Ghazi, discussed today, Sunday, with the German Ambassador Ole Dieil, the efforts of donor countries and international organizations to support stability in the governorates and liberated areas, and the ongoing preparations for holding a joint meeting in this regard.
The Secretary-General of the Council of Ministers, according to a statement from his media office, affirmed the Iraqi government's interest in the file of reconstructing the liberated areas, in coordination with the relevant authorities, through the national plan prepared by the Ministry of Immigration and Displacement, which represented the intensification of governmental and international efforts, as well as serious work to end the issue of the displaced. And the closing of all the camps.
He pointed out: "The General Secretariat of the Council of Ministers follows up periodically with the Ministry of Immigration and Displacement, the implementation of the decisions issued by the Council of Ministers, and the directives of the Prime Minister, regarding the reconstruction of the liberated areas by providing basic services and infrastructure, which contribute to providing the appropriate atmosphere for return. Voluntary displaced persons. "
The German ambassador praised the efforts of the General Secretariat of the Council of Ministers to facilitate the flow of international organizations in the liberated areas, the continuation of joint cooperation with embassies of donor countries and international organizations, the provision of all supplies and logistical support, as well as the Iraqi government’s cooperation in contributing financial support to the Reconstruction Fund.
The two sides also discussed preparations for the General Secretariat of the Council of Ministers, to hold the meeting scheduled for tomorrow, Monday, to support stabilization efforts, in which embassies of donor countries and international organizations will participate.
Security sources: 5 missiles fell on the Iraqi military air base north of Baghdad
Iraqi security sources said on Monday that five rockets landed on the Iraqi military air base in Balad, north of Baghdad, without causing any casualties.
A security source stated that the vicinity of the Balad base in Salah al-Din was targeted by Katyusha rockets.
The source added in a statement to "Alsumaria News" that the rockets occurred in the northwestern part of the base in an empty yard near the fence of the base.
He stressed that the targeting did not cause any material or human damage.
Al-Abadi: We must meet the demands of the Iraqi people and not underestimate the demonstrators
Former Prime Minister Haider al-Abadi said, We must meet the demands of the Iraqi people and not underestimate the demonstrators
Al-Abadi confirmed in a tweet on the microblogging site "Twitter", perhaps the number of demonstrators who attend the demonstration squares is not very large, but through our data there is popular sympathy for them and we must respond to their legitimate requests.
he tweeted this yesterday
The WOTS report is below here:
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Oil rises and Brent hovers near $70
Oil prices rose on Monday, with Brent crude falling near $70 per barrel, supported by production cuts from major producers, optimism about the global economy and a recovery in fuel demand in the second half of the year.
Brent crude futures for May rose 50 cents, or 0.72%, to $69.72 a barrel by 0528 GMT, while West Texas Intermediate for April was $66.13 per barrel, up 52 cents, or 0.79 percent.
The supply cuts come as the Organization of Petroleum Exporting Countries (OPEC) and its allies, the opec+group, decided earlier this month to extend most of the supply cuts until April.
Investors expect China to release positive economic data on Monday, supporting stronger growth prospects in the world's second largest oil consumer.
Separately, U.S. energy companies reduced the number of oil and natural gas platforms operating by one in the first weekly decline since November, giving an additional boost to higher oil prices.
Iraq ranks low in the evaluation of "attracting investment" .. Learn about the indicators of strength and weakness that Iraq has acquired
Iraq ranked 105 out of 109 countries in the evaluation of the most attractive countries for investment for the year 2020.
Iraq achieved a rate of 23.7, while the evaluation includes a set of factors including stability of economies, financial structure, institutional environment, basic requirements, market potential and ease of access to the market, natural and human resources, material costs, logistical performance, communications and information technology, main factors, economics of agglomeration, Technical environment and privileges, external factors influencing.
The proportions of Iraq were very late in: the institutional environment, logistical performance, technical environment, financial structure.
As for the high percentages in Iraq, they were in: economic stability, natural and human resources, the main factors.
This report measures the extent of the attractiveness of countries ’economies to foreign investment for various countries, and despite the high percentage of Iraq compared to 2019, Iraq has maintained its position among countries.
The United Arab Emirates topped the Arab countries, ranking 24th in the world, followed by Qatar in 42nd, Saudi Arabia in 44th, and Kuwait at 46th.
As for the most attractive countries, the United States was in first place, then Switzerland in second place, and Sweden in third place.
Parliamentary Finance explains the reasons for postponing the budget presentation in today's session
A member of the Parliamentary Finance Committee, Muhammad Ibrahim, explained, on Monday, the reasons for postponing the presentation of the budget on the agenda of today's session, pointing out that there is almost a consensus between Baghdad and Erbil on resolving the budget.
Ibrahim said in a statement to "the information", that "the budget was postponed to tomorrow's session, Tuesday, due to the presence of some technical measures, as well as in order to complete some aspects related to it and then submit it to a vote."
He added, "There is near-consensus between Baghdad and Erbil to pass the budget, as the postponement of its presentation in Parliament is to give more time about the agreement between the two sides on the contentious articles in the budget."
He stressed that "Article 11 of the budget is the focus of the dispute between the two governments, especially with regard to the region's dues since 2004 and the quantities of oil exported across the region, as the issue is still revolving around political dialogues.
CBI Update: Just a note:
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
3-14-2021 Newshound Guru Jeff Article: "Political agreement to pass the oil and gas law" Oil and Gas Law is oil profit sharing for the citizens. It's still outstanding...Why hasn't it been implemented yet? It can't be. It's waiting for the rate change. That's why it's still outstanding...In order to implement it they have to change the rate first. Then they can amend the constitution and then they can implement it when the budget goes active on April 1st. Boom! ...all of this is coming forth now. You guys are in the best position. We're golden. This thing is locked and loaded. You are right on the cusp of it...
3-14-2021 Newshound/Intel Guru Mnt Goat When will they vote on the Oil and Gas Law? They will probably take this up soon too along with the referendum for Article 140. Both of these laws have been ongoing as pieces to the Oil and Gas law have already been voted on and are now effective laws. But the KRG needs to assurances (by legislated law) how this territory in article 140 is to be managed and by whom and will need the funding from the GOI to do it.
3-14-2021 Intel Guru MarkZ [via PDK] I have said this before…the sheer amount of Iraqi dinar held in foreign treasuries around the world is immense …Iraq holds a tremendous amount of Vietnamese dong …Vietnam holds a tremendous amount of Iraqi dinar…they need them to go at the same time. I think Iraq is forcing this issue by pushing for it quickly. And by Iraq pushing it forward it will force them to reset the rest…
3-14-2021 Newshound/Intel Guru Mnt Goat Article: "INTERNATIONAL MONETARY FUND REVEALS LOAN TERMS, CONFIRMS SUPPORT FOR WHITE PAPER AND EXCHANGE RATE CHANGE" I am hearing that Iraq may not be taking this IMF loan after all as oil is rising very quickly. This is a very good sign...
3-14-2021 Newshound Guru Jeff Article: "Parliament announces the completion of the vote on the draft law of Federal Court in Monday's session" The fact that you see them getting this law done now confirms to you that the rate change is here because this law had to be delayed and timed with the rate change. They could only bring it forward when they're ready to change the rate. That's what they're doing right before your eyes...more good news walking you into next weekend for a rate change...
3-14-2021 Newshound/Intel Guru Mnt Goat As oil prices rise Iraq is bouncing back. We see them accumulating yet more funds in the CBI reserves. This is all very good! They will need this to RV. Remember that in 2012 Dr Shabibi has nearly 90 billion in the reserves and kept the provisional rate to 1166. Remember Dr Shabibi planned to revalue the currency in 2012 and then reinstate it in early 2013. So, in today’s day and age and all that is happening in the USA I would not doubt that an RV could happen before they opened the budget...
3-14-2021 Intel Guru MarkZ [via PDK] I am still told we will have a limited amount of time to exchange these notes……about 30 days to exchange those big 3 zero notes…Even if they do a 1 to 1 in-country…I still think at the bare minimum they will reinstate the currency internationally…with inflation I think that could be in the $4 range for dinar...The rates for all currencies…we will not know for sure until we are at our exchange. [NOTE: Dinar Guru will keep you posted if/when the CBI pending retirements of any dinar denominations...stay tuned.]
Today .. Two crucial meetings for Al-Kazemi and the Presidency of Parliament on the Federal Court Law
Al-Rafidain: Tomorrow is the date of the start of disbursing employees' advances
The office of the Sistani authority announces tomorrow, the first of the month of Sha'ban
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