WOTS FRI FEB 4 22
The Federal Court rejects the appeal of the coordination framework regarding the largest parliamentary bloc
These are the articles I discussed on the My FX Buddies Podcast:
The Federal Court rejects the appeal of the coordination framework regarding the largest parliamentary bloc
The Federal Supreme Court, the highest judicial authority in Iraq, rejected on Thursday the coordination framework lawsuit in its appeal with the largest parliamentary bloc.
A judicial source told Shafaq News Agency, that the Federal Court rejected the lawsuit filed regarding the largest bloc in the Iraqi parliament tasked with forming the next government.
Thus, the Sadrist bloc is the largest in the Iraqi parliament, according to the interpretation of the Federal Court.
The two MPs, Alia Nassif and Atwan Al-Atwani from the Coordination Framework, had recently submitted an appeal with the largest bloc to the Federal Court.
After the Federal Court's decision... Al-Maliki's coalition is waving a larger bloc within days
The State of Law coalition led by Nuri al-Maliki commented on the decision of the Federal Supreme Court regarding the "largest bloc", which was issued earlier today, Thursday.
The leader of the coalition, Haider al-Lami, told Shafaq News, that the decision of the Federal Supreme Court, regarding the "largest bloc", will prompt all political forces to conduct new dialogues and negotiations, in order to form this bloc, whose task will be to form the new Iraqi government.
Al-Lami indicated that dialogues and contacts are continuing between the coordination framework and the Sadrist movement, in order to form the "largest bloc" between the two parties, and if that does not happen, there are dialogues to form a larger bloc that brings together different political forces, during the next few days.
Earlier today, the Federal Supreme Court (the highest judicial authority in Iraq) rejected the coordination framework's lawsuit in its appeal to the largest parliamentary bloc.
Representatives Alia Nassif and Atwan Al-Atwani from the coordinating framework had recently filed a lawsuit against the largest bloc during the first session of the Iraqi Council of Representatives in its current session, which was held by the head of the age.
The "Coordination Framework" and the "Sadr Bloc" had each submitted a request to the Presidency of the House of Representatives during the first session on December 9, as it is the "largest parliamentary bloc" that will be tasked with forming the next government
The Federal Court in Iraq rejects the “coordinating party” case for the “largest bloc
link this is from Kuwait's news
Yesterday, the Federal Supreme Court of Iraq rejected a lawsuit submitted by deputies from the “Coordination Framework” to object to the mechanism for approving the most numerous parliamentary bloc in the House of Representatives.
The Iraqi News Agency published the court’s decision, which included a detailed presentation of the plaintiffs themselves or through their agents, namely, Representatives Alia Nassif, Atwan Sayed Hassan and Abdul Amir Najm, with a presentation of the defenses of the two defendants, who are the head of the age in the first session of Parliament Mahmoud al-Mashhadani and elected parliament speaker Muhammad al-Halbousi.
The plaintiffs expressed their rejection of how to name the most numerous parliamentary bloc, explaining that they presented the president of the age with a list in the name of the "coordinating framework" forces to approve the most numerous, but the elected president received another list for the same goal.
The court rejected the case, stating that there is nothing to prevent the list of the most numerous bloc from being presented in any session of the House of Representatives, even if it is after the presidential election session, because it is subject to change according to alliances between parties and lists until this bloc is officially announced by the presidency. Parliament, and submit it to the Presidency of the Republic.
She added: "Since the President of the Republic has not been elected until the date of submitting the case, and the Presidency of the House of Representatives has not announced the name of a particular bloc as a more numerous bloc, independent parties and personalities can join each other according to the terms and conditions of the Iraqi Council of Representatives election law and submit to the Presidency of Parliament."
The "Coordination Framework" forces (an alliance of factions and parties loyal to Iran) submitted a list of the names of the parliamentary bloc that is most numerous to the head of the age in the first session of the parliament, while the Sadrist bloc presented another list to the parliament speaker who was elected in the same session, while the parliament did not announce any details about any of them. The two lists and whether one of them was accepted or not.
Naming the most numerous bloc in the Iraqi parliament is an important and necessary measure, because it is the one who will receive the President's mandate to form the new government.
Four demands of the coordinating framework forces in exchange for not participating in the next Iraqi government
A source close to the forces of the coordination framework backed by Iran revealed that there are a number of conditions that want forces The framework is to ensure that al-Sadr approves it in exchange for its non-participation in the next government.
The source said that among these conditions: Providing guarantees not to vote on dissolving the Popular Mobilization or merging it in the government armed forces.
The failure to issue a decision of Parliament criminalizing the bearers of arms from members of the armed factions.
Overlook the corruption files raised by political and supervisory authorities against senior officials in the framework forces.
Agreement to keep the salaries of the Rafhaouis who fled to Rafha, Saudi Arabia, after the 1991 uprising that followed the invasion Kuwait as part of the public framework forces.
According to the source, the leader of the Sadrist movement did not respond to the demands of the framework forces, but commented on them by saying that: One of the first tasks of the majority government is to confine weapons to the hands of the state, to open files of corruption and the fall of Iraqi cities to the hand ISIS during the Maliki era.
A leader in the framework forces revealed that the framework rejected the initiative of the leader of the Kurdistan Democratic Party, Massoud Barzani.
Aid al-Hilali said that Barzani suggested granting the framework forces ministerial positions, provided that al-Maliki be in isolation About the next government formation, indicating that the framework forces will not abandon al-Maliki and that the decision to participate in The government or the boycott of the entire political process by the framework forces will be decided within the next two days.
In a remarkable escalation, al-Sadr accused the factions linked to the framework forces of plunging Iraq into conflicts and wars with neighboring countries .
Al-Sadr tweeted that after the escalating violence in Iraq by armed terrorist groups against the interests of the people And the political blocs, some outlaw terrorists rushed to plunge Iraq into a dangerous regional war by targeting A Gulf state under the pretext of (normalization) or on the pretext of the Yemen war or the like.
Al-Sadr accuses factions linked to Iran of using their weapons and missiles against Arab countries, which makes Iraq a party to conflicts. The Iraqis have no interest in it.
The Central Bank of Iraq does not change the exchange rate of the dollar
The Deputy Governor of the Central Bank of Iraq, Ammar Hamad Khalaf, announced that there is no change in the dollar exchange rate, indicating that monetary policy is exclusively within his competence.
Khalaf said in a press statement on the sidelines of his visits to Egypt with a delegation that includes the governor of the Central Bank and a number of Iraqi bank managers.
He added that the rise in oil prices led to an increase in foreign reserves, and a significant growth of foreign currency was recorded in the past year 2021, and the current year is unprecedented compared to previous years, noting that the growth was achieved thanks to the bank's various investments and its management according to the monetary policy based on the best international practices away from risks.
He revealed that very easy loans will be granted to all citizens in order to provide decent housing for all.
The Iraqi Central Bank "disbelieves" political promises to change the price of the dinar
Today, Thursday, the Central Bank of Iraq denied what some political forces promised to raise the value of the Iraqi dinar against the dollar, stressing that the file is linked to the bank exclusively, amid warnings against exploiting the file politically.
The deputy governor of the bank, Ammar Hamad Khalaf, said in a statement to the official Iraqi newspaper, Al-Sabah, that "there is no change in the dollar exchange rate," stressing that "monetary policy is the exclusive competence of the bank."
The denial of the Central Bank of Iraq comes days after political forces raised the file of raising the value of the Iraqi dinar against the dollar, within the movement to form the new government, which is still stumbling so far.
The last of them was the representative of the Coordination Framework, Ibtisam Al-Hilali, who said that "the framework coalition has started a move to collect parliamentary signatures to restore the dollar to its previous price."
And she confirmed in a press statement, "The framework movement in this regard is still going on until the will of the Iraqi people is achieved, which was affected as a result of the high exchange rate of the dollar," noting that "the government raised the exchange rate in order to supplement the 2012 budget, and now it has obtained additional funds following the rise in the price of the dollar." oil"
The representative of the "State of Law" within the coordination framework, Dhurgham Al-Maliki, also confirmed that the new parliament will reconsider the decisions taken by the previous parliament, including the exchange rate of the dollar, stressing that "the coordination framework is moving towards the return of the dollar exchange to its previous price, and to correct mistakes and lapses." caused by the previous parliament.
He added that "the financial abundance in the Central Bank, the stability of the economic situation in the country, and the high price of a barrel of crude oil, necessitate us to move towards this step, especially since the exchange rate (of the dollar) remains unjustified, and that the Iraqi citizen is the only one who pays price hike tax.
The successive statements about the exchange rate change affected the local market. According to a member of the Baghdad Chamber of Commerce, Ali Al-Zubaidi, "the statements made by some forces regarding the exchange rate are among the attempts to make money, and they do not correspond to reality." Al-Zubaidi explained to "The New Arab", that "changing the exchange rate cannot be taken directly. Because this will have significant economic impacts, so any decision requires extensive study and calculation of its consequences.
He pointed out that "changing the exchange rate requires overlapping operations, arranged according to economic feasibility, not just political promises," stressing that "those promises and political statements confused the market and affected price stability, and caused the cessation of many commercial operations," stressing "the need for "Politicians are moving away from those promises, which are not really aimed at achieving the people's interest, as much as they are statements of political gain."
It is noteworthy that the file of changing the exchange rate, which was carried out by the government of Prime Minister Mustafa Al-Kazemi, at the beginning of its formation, as it adopted a new exchange rate of 1450 Iraqi dinars to the dollar, after it was 1220 dinars, as part of what it described as the government’s reform policy, and this affected the raising of goods prices in the local market.
The file was exploited politically throughout this period by some parties, especially during the election period, and promised to raise the value of the Iraqi dinar and return it to what it was, and currently the file is also exploited within the controversy of forming the government.
After the rise in the price of oil, an economist calls for the return of the dollar price to its previous era
The economic expert, Nasser Al-Kinani, demanded, today, Thursday, the return of the dollar exchange rate to its previous era.
Al-Kinani told "Earth News", "The Iraqi citizen is waiting after the rise in oil prices, which exceeded the threshold of $90 per barrel today, and continue to rise according to the confused state of the state, to be considered by the Ministry of Finance to reverse its previous decision to raise the exchange rate."
He pointed out that “the rise in the exchange rate and what the citizen has suffered during the previous period prompts us to appeal to the next government in view of the economic situation in Iraq, especially families with limited incomes from retirees and social welfare, who have been exhausted by the high prices of food and medicine and brought it back to what it was 120 thousand Iraqis per 100 dollars.
A deputy directs a parliamentary question to Al-Kazemi about the reason for the continued rise in the price of the dollar
A member of the Iraqi Parliament, Hadi Al-Salami, directed a set of questions to the outgoing Prime Minister, Mustafa Al-Kazemi, regarding the exchange rate of the dollar against the dinar and the financial differences resulting from the rise in oil in global markets.
And a document obtained by (the fourth) showed an inquiry from the representative about the government’s failure to submit the supplementary budget on the financial abundance achieved in the year 2021, and the failure to send the 2022 budget bill on the specified date.
Source: Al-Rafidain will soon launch loans, advances and other banking facilities
The source told {Euphrates News} that "loans, advances and other banking facilities include employees and the general public."
Brent exceeds $93 per barrel
Oil prices continue to rise today, Friday, as the barrel of “Brent” blend rose during trading above the level of 93 dollars, for the first time since October 2014.
By 15:08 Moscow time, the US West Texas Intermediate crude futures rose by 2.19% to $92.25 a barrel.
Brent crude futures rose 1.93% to $93.02 a barrel, according to Bloomberg website data.
The price of "Brent" barrel jumped above $92 a barrel earlier in the day, for the first time since October 2014.
The Association of Iraqi Private Banks and the Federation of Egyptian Banks sign a memorandum of understanding to develop banking relations
The Iraqi Private Banks Association announced the signing of a memorandum of understanding with the Federation of Egyptian Banks to develop banking relations between the two countries.
The association said in a statement received by "Economy News", that "today, a memorandum of understanding was signed with the Federation of Egyptian Banks, in the presence of the Governor of the Central Bank, Mostafa Ghaleb, and his Egyptian counterpart, Tariq Amer," noting that "the memorandum aims to establish an effective partnership between the banking sector in the two countries at various banking levels." ".
She added, "The president of the association, Wadih Al-Handal, signed the memorandum, in addition to the head of the Federation of Egyptian Banks, Mohamed Mahmoud Al-Etreby."
The head of the Association of Banks said, according to the statement, "We are pleased with the close cooperation with the Federation of Egyptian Banks, which includes in its membership all banks operating in Egypt, which contributes to strengthening relations and partnership with Egyptian banks," explaining that "the Iraqi banking sector is making great strides towards leadership, thanks to the policy of The Central Bank, which now requires openness to all banks in Arab and foreign countries.
Al-Handal pointed out that "the memorandum of understanding will also focus on establishing joint training programs that include qualifying banking cadres in the two countries, as well as establishing partnerships between Iraqi and Egyptian banks."
For his part, the President of the Federation of Egyptian Banks, Mohamed Al-Etreby, expressed his happiness at signing the memorandum of understanding with the Association of Iraqi Private Banks, pointing out that "
After the rise in the price of oil, an economist calls for the return of the dollar price to its previous era
The economic expert, Nasser Al-Kinani, demanded, today, Thursday, the return of the dollar exchange rate to its previous era.
Al-Kinani told "Earth News", "The Iraqi citizen is waiting after the rise in oil prices, which exceeded the threshold of $90 per barrel today, and continue to rise according to the confused state of the state, to be considered by the Ministry of Finance to reverse its previous decision to raise the exchange rate."
He pointed out that “the rise in the exchange rate and what the citizen has suffered during the previous period prompts us to appeal to the next government in view of the economic situation in Iraq, especially families with limited incomes from retirees and social welfare, who have been exhausted by the high prices of food and medicine and brought it back to what it was 120 thousand Iraqis per 100 dollars.
Below here is the daily WOTS report Word on the Street for Feb 4 2022:
ublishes the dollar exchange rate today against the Iraqi dinar in the local markets and Iraqi exchanges on Friday (February 04, 2022), which recorded relative changes against the Iraqi dinar.
The price of the dollar today in Iraq came against 100 dollars in the local markets and the Iraqi stock exchanges in the capital, Baghdad, Basra and Erbil as follows:
The price of 100 dollars today in most Baghdad exchanges
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1458.0000 | 1462.0000 | 1456.8000 | 1456.8000 | 1456.8000 | 0.1000 | 01:02 |
| USD/VND |  22645.0000 | 22655.0000 | 22647.2700 | 22647.2700 | 22647.2700 | -0.1800 | 01:30 |
| USD/CNY | 6.3595 | 6.3625 | 6.3604 | 6.3601 | 6.3604 | -0.0004 | 01:02 |
| USD/KWD | 0.3018 | 0.3028 | 0.3021 | 0.3020 | 0.3021 | -0.0002 | 04:48 |
| GBP/USD | 1.3558 |  1.3560 | 1.3614 | 1.3551 | 1.3592 | -0.0033 | 05:02 |
| USD/IRR | 42000.0000 | 42500.0000 | 42226.5000 | 42226.5000 | 42226.5000 | -17.4000 | 01:02 |
| USD/IDR | 14386.0000 | 14386.0000 | 14392.0000 | 14362.0000 | 14366.0000 | 20.0000 | 05:00 |
BIGGEST WIPEOUT IN HISTORY
$252,000,000,000 GONE
ZUCK BLAMES TIKTOK
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Brent" crude jumps above $92
Oil prices continued to rise today, Friday, and the price of "Brent" barrel rose above $92 a barrel for the first time since October 2014.
US West Texas Intermediate crude futures also rose 1.27% to $91.42 a barrel.
And Brent crude futures recorded 1.21% to $92.21 a barrel, according to Bloomberg website data.
The “OPEC +” grouping agreed yesterday, Wednesday, to stick to the monthly increases of 400,000 barrels per day in oil production, despite pressure from major consumers to increase production more quickly.
Tight global supplies and global political tension have boosted oil prices by about 15% since the beginning of the year.
The Association of Iraqi Private Banks and the Federation of Egyptian Banks sign a memorandum of understanding to develop banking relations
The Iraqi Private Banks Association announced the signing of a memorandum of understanding with the Federation of Egyptian Banks to develop banking relations between the two countries.
The association said in a statement received by "Economy News", that "today, a memorandum of understanding was signed with the Federation of Egyptian Banks, in the presence of the Governor of the Central Bank, Mostafa Ghaleb, and his Egyptian counterpart, Tariq Amer," noting that "the memorandum aims to establish an effective partnership between the banking sector in the two countries at various banking levels." ".
She added, "The president of the association, Wadih Al-Handal, signed the memorandum, in addition to the head of the Federation of Egyptian Banks, Mohamed Mahmoud Al-Etreby."
The head of the Association of Banks said, according to the statement, "We are pleased with the close cooperation with the Federation of Egyptian Banks, which includes in its membership all banks operating in Egypt, which contributes to strengthening relations and partnership with Egyptian banks," explaining that "the Iraqi banking sector is making great strides towards leadership, thanks to the policy of The Central Bank, which now requires openness to all banks in Arab and foreign countries.
Al-Handal pointed out that "the memorandum of understanding will also focus on establishing joint training programs that include qualifying banking cadres in the two countries, as well as establishing partnerships between Iraqi and Egyptian banks."
For his part, the President of the Federation of Egyptian Banks, Mohamed Al-Etreby, expressed his happiness at signing the memorandum of understanding with the Association of Iraqi Private Banks, pointing out that "
CBI Update: Just a note:
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