WOTS WED OCT 20 21
The Central Bank of Iraq: a list of Iraqi banks that have obtained the classification of accredited international agencies
These are the articles I discussed on the My FX Buddies Podcast:
The Central Bank of Iraq: a list of Iraqi banks that have obtained the classification of accredited international agencies
The Central Bank of Iraq announced, on Wednesday, that Iraqi banks have obtained a classification from international agencies.
And the bank stated in a statement, that “Nass” received a copy of it, (20 October 2021), that “in the framework of the efforts made by the Central Bank of Iraq to develop the Iraqi banking sector and keep it in line with international standards, 19 licensed banks in Iraq obtained a rating from rating agencies.” accredited international: (Capital Intelligence - Fitch - Moody's - Standard & Poors), and these banks will receive several banking facilities, which reflects the development of the performance of the banking sector in Iraq and the solvency of banks and is evidence of their compliance with local and international standards.
The statement noted that "the Central Bank seeks to increase the ability of Iraqi banks to expand their network of relations with international banks and enhance the confidence of citizens and investors in them, especially after their success in obtaining such ratings.
The Central Bank of Iraq announced, on Wednesday, that 19 private Iraqi banks have obtained a classification from international agencies.
The bank said in a statement received by Shafaq News Agency that within the framework of the efforts made by the Central Bank of Iraq to develop the Iraqi banking sector and keep it in line with international standards, 19 licensed banks in Iraq obtained a classification from accredited international rating agencies: (Capital Intelligence - Fitch - Moody's - Standard & Poors).
He added, "These banks will receive several banking facilities, which reflects the development of the performance of the banking sector in Iraq and the solvency of banks and is evidence of their compliance with local and international standards."
It is worth mentioning that the Central Bank seeks to increase the ability of Iraqi banks to expand their network of relations with international banks and enhance the confidence of citizens and investors in them, especially after their success in obtaining such ratings.
Beggars develop their "profitable" business... from the streets to the social media platforms
The pages of social networking sites are full of appeals and distress to help the needy patients and critical humanitarian cases, but these appeals are not devoid of "fraud and fraud", as beggars transfer this phenomenon from reality to the virtual world on social networking sites in a move to their "profitable" business. .
Social researcher Ahmed Muhammad told Shafaq News Agency, "The social networking pages are full of distress calls to help the needy, a phenomenon that is scientifically called (electronic beggary)."
Muhammad considers that "this phenomenon is no less dangerous than beggary in the streets and alleys, and it needs very careful monitoring, because many of them do not need help, but some of them exploited people to collect large sums of money under the pretext of a specific disease or a specific need."
Exploiting emotions
The forms of begging vary, but they tend to provoke emotions to help a poor family that cannot find shelter or treat a sick or disabled person. It is often accompanied by video recordings and medical reports, some of them forged, until human rights activist Laila Taha considered it a form of fraud.
Taha explained to Shafaq News Agency, "Many of the cases of begging that we see on social media platforms are considered a form of fraud, because many of them are not in need, but rather use it as a profession.
And she adds that "many of them manipulate people's emotions with human stories that have affected them, through pages and accounts on social networking sites that adopt the process of "electronic beggary".
Social researcher Omar Muhammad wonders about the reasons for allowing these pages to manipulate people's emotions with bad intentions, demanding that "there should be strict and precise monitoring of these cases and follow-up until the real needy person is found out from the fraudster."
digital evolution
Begging is a phenomenon that has developed with the development of life and technology, and has become active with the development of modern technologies, so that these technologies have become a means of spreading the phenomenon.
Jaafar Aziz, a computer engineer who works in a computer center, told Shafaq News Agency, "Many people take advantage of modern scientific technologies to develop their professions, and some of them engage in the profession of "begging", and indeed those who practice these professions have been able to employ technology in modernizing the profession."
He added that controlling this issue requires, first, a great societal awareness through which we can distinguish between the needy and the fraudster, as well as requiring that the competent authorities monitor those pages that promote the issue of beggary
Al-Kazemi’s advisor clarifies the impact of oil price changes on the 2022 budget
Salih said that "raising the barrel price to $60 has a positive effect on reducing the fiscal deficit if the spending ceilings themselves rise."
He explained, "Instead of the deficit being 29 trillion dinars, as it was in the 2021 budget, it will decrease by 75% and what remains will be a very small percentage."
Saleh pointed out that “in the event that $ 60 per barrel is achieved throughout the year; But the price discrepancy affects, but the cycle of oil assets bodes well and is constantly on the rise, and we do not expect it to be less than $60 per barrel.”
And Oil Minister Ihsan Abdul-Jabbar announced that the price of oil in the next year’s 2022 budget would be fixed at $60 per barrel instead of $50.
Abdul-Jabbar expected oil prices to reach $100 per barrel in the first and second quarters of 2022, with global stockpiles dropping to their lowest levels.
After the rise in oil, an expert reveals the possibility of reducing the dollar exchange rate with this mechanism
The economic expert, Nabil Al Marsoumi, revealed, on Wednesday, the possibility of restoring the dollar exchange rate to its previous era, by a certain mechanism.
Al-Marsoumi told Mawazine News that “the current budgets in Iraq have inflated, and the 2021 budget differs from its predecessors,” noting that “the actual spending of the country exceeds 110 trillion dinars. Therefore, in light of current prices, if the exchange rate is restored, debts of up to 120 trillion dinars will accumulate. “
He added, “It is possible for the state to gradually improve the Iraqi dinar exchange rate because the shock method adopted in changing the exchange rate was not appropriate.”
Al-Marsoumi stressed, “The rise was at a high rate and at an inappropriate time, at a time when poverty indicators were rising due to the Corona virus, and there was an uproar and shock in the markets.”
raq expects oil prices to reach $100 per barrel
The Iraqi Oil Minister, Ihsan Abdul-Jabbar, expected oil prices to reach $100 per barrel in the first and second quarters of 2022, with global stocks dropping to their lowest levels, Reuters reported.
The Iraqi Oil Minister had confirmed in previous statements that oil prices should stabilize around the current levels, which reflects the market balance.
On the sidelines of his recent participation in the Russian Energy Week conference in Moscow, he said that the market must be balanced during the second half of this year, explaining that the fair price of oil is $85 per barrel.
Iraq is counting on the oil price to reduce the budget deficit, as next year's budget is expected to witness an increase in the average price of a barrel, which was calculated at about $50 in the 2022 budget.
Woman found guilty of stealing thousands of dollars from safe in Naples home
COLLIER COUNTY, Fla. – A woman was found guilty of stealing thousands of dollars from a Naples resident’s safe at home.
Shannon Jankins, 47, was found guilty as charged with dealing in stolen property after a two-day trial in Collier County, the State Attorney’s Office said.
The Naples resident went out of town, and during that time, $2,500 in cash and 225,000 Iraqi Dinar, Iraqi currency, were stolen from the safe inside his home. Prosecutors confirmed the foreign currency could only have been exchanged at one local business for US currency.
Collier County Sheriff’s Office deputies confirmed the currency was exchanged at the one business, for under $1,000. Jenkins was identified as the seller and she was arrested.
Below is the daily WOTS report The Word on the Street report for today
147,850
....
The price is in most Baghdad exchanges
Purchase
147,250
Sale
148,250
Basra - Bursa
148,000
Sulaymaniyah - Bursa
148,150
Mosul - Bursa
148,100
Erbil - Bursa
148,075
Najaf - Bursa
147,950
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1437.5000 |  1489.0000 | 1458.2000 | 1458.0000 | 1458.2000 | 0.1000 | 08:02 |
| USD/VND | 22755.0000 | 22757.0000 | 22742.5000 | 22737.0400 | 22737.0400 | 6.8500 | 22:41 |
| USD/CNY | 6.3934 | 6.3954 | 6.3964 | 6.3812 | 6.3815 | 0.0119 | 05:05 |
| USD/KWD |  0.3011 | 0.3021 | 0.3013 | 0.3012 | 0.3013 | -0.0001 | 04:59 |
| GBP/USD | 1.3760 | 1.3761 | 1.3814 | 1.3760 | 1.3790 | -0.0031 | 05:08 |
| USD/IRR | 41995.0000 | 42395.0000 | 42183.0000 | 42169.5000 | 42183.0000 | -15.3000 | 00:00 |
| USD/IDR | 14131.0000 | 14131.0000 | 14153.0000 | 14094.0000 | 14101.0000 | 31.0000 | 05:06 |
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Iraq expects oil prices to reach $100 per barrel
The Iraqi Oil Minister, Ihsan Abdul-Jabbar, expected oil prices to reach $100 per barrel in the first and second quarters of 2022, with global stocks dropping to their lowest levels, Reuters reported.
The Iraqi Oil Minister had confirmed in previous statements that oil prices should stabilize around the current levels, which reflects the market balance.
On the sidelines of his recent participation in the Russian Energy Week conference in Moscow, he said that the market must be balanced during the second half of this year, explaining that the fair price of oil is $85 per barrel.
Iraq is counting on the oil price to reduce the budget deficit, as next year's budget is expected to witness an increase in the average price of a barrel, which was calculated at about $50 in the 2022 budget.
Iraq aspires to global investments through "Expo Dubai"
On Wednesday, Iraq expressed its ambition to obtain global investments, through its participation in the "Expo Dubai 2020", in light of the wide participation of major international companies that represent a sober effort around the world.
Iraqi Foreign Minister Fouad Hussein inaugurated the Iraq pavilion at Expo 2020 Dubai, in the presence of Deputy Central Bank Governor Ihsan Al-Yasiri, Chairman of the Investment Authority Suha Al-Najjar, President of the Association of Private Banks Wadih Al-Handal, and UAE Minister of State Khalifa Shaheen Al-Marar.
Deputy Governor of the Central Bank, Ihsan al-Yasiri, said that "Iraq's presence in this forum represents an important step for rapprochement with the active international labor market that possesses all the ingredients for achieving success in performance, and is an important opportunity to communicate with the best global expertise that can be employed to serve Iraq and its economy."
In turn, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that "Expo Dubai 2020 is an important and promising opportunity to open the door for investment in Iraq."
Al-Handal added that "the Iraqi pavilion in the exhibition will show its visitors the civilization, heritage and great successes that Iraqis have achieved over the past and current years," noting that "the Central Bank and the Association of Private Banks provided financial support through the Tamkeen Fund to establish the pavilion."
The Central Bank of Iraq: a list of Iraqi banks that have obtained the classification of accredited international agencies
The Central Bank of Iraq announced, on Wednesday, that Iraqi banks have obtained a classification from international agencies.
And the bank stated in a statement, that “Nass” received a copy of it, (20 October 2021), that “in the framework of the efforts made by the Central Bank of Iraq to develop the Iraqi banking sector and keep it in line with international standards, 19 licensed banks in Iraq obtained a rating from rating agencies.” accredited international: (Capital Intelligence - Fitch - Moody's - Standard & Poors), and these banks will receive several banking facilities, which reflects the development of the performance of the banking sector in Iraq and the solvency of banks and is evidence of their compliance with local and international standards.
The statement noted that "the Central Bank seeks to increase the ability of Iraqi banks to expand their network of relations with international banks and enhance the confidence of citizens and investors in them, especially after their success in obtaining such ratings.
Abdollahian: We welcome peace and stability in Iraq
Iranian Foreign Minister Hossein Amir Abdollahian said on Tuesday that his country always welcomes peace and stability in Iraq.
Yesterday evening, Wednesday, IRNA news agency reported that Abdollahian's statements came during his meeting with former Iraqi Prime Minister Adel Abdul-Mahdi in Tehran, describing bilateral relations as lasting and brotherly friendship
Abdollahian stated that Iranian-Iraqi relations can move forward , at a steady pace, and take the operational situation more and more, whether popular, economic or political relations, praising the actions of Adel Abdul-Mahdi and his Iraqi government, during his tenure as prime minister in Baghdad, within the framework of developing bilateral relations, stressing On his country's intention to expand relations with the Iraqi government.
Hossein Amir Abdollahian, Iranian Foreign Minister, indicated that his country has always welcomed peace and stability in Iraq, in addition to Iran's welcome to Baghdad's constructive role in regional relations. .
In turn, Abdul-Mahdi, during the meeting with Abdollahian, drew attention to the many and multiple commonalities between his country and Iran in various fields, considering them a great asset for further rapprochement between the people and governments of the two sides.
CBI Update: Just a note:
including $49,530,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
10-19-2021 Intel Guru Frank26 [Iraq Boots-on-the-ground Firefly TV update]: FIREFLY: Tv loaded with commercials today showing Iraq as up and coming country showing new banks new businesses coming showing all good things about Iraq we seeing new commercials for banks…Arab league fund and IMF starting changing rate policy study and guideline big event going on it’s on tv about changing exchange rate policy…It’s all over our television every channel...new commercials...talking to us about the exchange rate...this is amazing. Says it’s a course on exchange rate policy. It’s hard to believe what we are hearing...our banks will soon give us a modern currency with a modern exchange rate this is all so hard to believe but we are so grateful….
10-19-2021 Newshound Guru Pimpy What have we learned over the past year...? Is an RV or an RI possible? Are we getting any closer at all to achieving what we all want? Just so you know an RV is when they revalue the currency and RI is when they reinstate the value of a currency to its prior value...the United Nations, United Nations Security Council, the Forum On Economic Development all said there's no reason for Iraq not to be reinstated to their value of $3.22 cents prior to the devaluing of the currency by our country [USA].
10-19-2021 Intel Guru MarkZ [via PDK] On the banking side we have not seen any movement yet...Buckle up- we may still be in the doldrums waiting for things to start...I think this is our week.
10-19-2021 Newshound Guru Vital Brad If you look at the region where Iraq's at - Kuwait...their currency is very very valuable because of oil reserves. If it [Iraqi dinar] comes out at 10 cents I'll probably cash out half at the 10 cent rate and then I'm gonna wait. I'm gonna hold for it to raise even more. That's just my opinion.
10-19-2021 Newshound Guru Kaperoni Speculative challenge [They may LOP and let it rise and fall from there which it looks to me like all the cards are stacked in that direction. They are just waiting for the right conditions and timing. Please convince me that the odds are over 50% in other direction. Hope I’m wrong!...] Remember, Iraq intentionally sold the dinar around the world so that it could eventually be held in central banks as a hard currency. Such an event would contradict that intention. Countries that have done that [LOP] have not been successful...
10-19-2021 Intel Guru MarkZ [via PDK] Bankers are all chattering with anticipation. Contractors in Iraq are also looking at mid week for spendable funds on their cards. I am still hearing from multiple sources that the rate is $4.71.
10-19-2021 Newshound/Intel Guru Mnt Goat ...Changes are coming and these changes we will like. This is when we will get the reinstatement...
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