Friday, May 20, 2022

WOTS WED MAY 18 22 Pictures.. Sadr's supporters gather in Baghdad to support his steps

WOTS WED MAY 18 22 Pictures.. Sadr's supporters gather in Baghdad to support his steps

Photos.. Sadr's supporters gather in two areas of Baghdad


This is the My FX Buddies Podcast that is discussing these articles:


latest video from Nader in the middle east




Video of what was said about Iraq to the UN yesterday:




The United Nations warns of "the boiling of the Iraqi street" due to the failure of its leaders

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The United Nations warned of "Iraqi people's anger that may explode at any moment", due to the failure of political leaders to address a number of basic issues, including the suffering of the Iraqi citizen from poverty and lack of security.

 

Jenin Hennis-Plasschaert, the UN envoy to Iraq, said after a UN Security Council session that Iraq and the region could not afford to return to October 2019.

And she warned that "the negative aspects of Iraqi political life are still repeating themselves in an apparently continuous cycle of zero-sum policy," adding that "more than seven months after the parliamentary elections, several deadlines for forming the government were missed."

She also issued a warning to political leaders in Iraq not to hide behind the argument of not forming a government, which she said "distracts attention from what is at stake."

She added, "This does not justify a political stalemate in which armed groups launch missiles with impunity, and the ordinary citizen suffers. Rather, it justifies a political stalemate that is expected to escalate into public anger at any moment."

She stressed that the time has come to restore the rights of the Iraqi people, who demand adequate services for all their citizens.



Blackshart calls on Iraqi leaders to overcome the political stalemate and meet the aspirations of the Iraqi people

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Iran: The Introduction Of Foreign Exchange In The Exchange Market Recorded A Surplus

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The Central Bank of Iran announced that the foreign currency offering on the exchange market has been recorded as surplus during the past two weeks.

In a statement, the Central Bank stated that the exporters offered 4.8 billion dollars of types of foreign currencies, with a value of which touched 4.8 billion dollars, in the electronic “NEMA” system (dedicated to sell currency exporters to importers in the form of remittances), during the period from 7 to 16 May this year.

The statement indicated that in the market designated for the foreign exchange offer, $80 million was offered through banks and exchange offices during the mentioned period, as deals were concluded worth $38.5 billion out of the total offering, which achieved a surplus with supply over demand.


Political Anticipation For The Announcement Of The Names Of Independent Candidates For Prime Minister

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Independent MP Salah Al-Tamimi revealed, on Wednesday, the details of the initiative of the independent parliamentary forces, indicating that the names of the candidates for prime minister will be handed over to the other forces.

Al-Tamimi said in a statement to "Al-Maalouma", that "the independent forces have begun formulating their vision to form the next government, and they have put forward an initiative to end the political blockage."

He added, "The characteristics of the next prime minister have been set, the most prominent of which is that he should be independent and not close to any political forces, and some names will be presented in the coming days."

Al-Tamimi pointed out that "the formation of the majority, the uniqueness of the parties, and the exclusion of others in this way is incorrect and useless, and the masses cannot be dragged into the street as a new crisis."


The 30-day deadline... What do allies of al-Sadr say?

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Al-Sadr's allies: We will not abandon the National Salvation Alliance.. The trio is coherent and firm.

Thirty days before all political parties in a new test and another deadline to form the government amid parliamentary expectations that talk about the continuation of the blockage and there is no government without consensus

They are firm and cohesive.. Al-Sadr's partners are neither alliances nor blocs outside the scope of the tripartite alliance. This is what the deputies announcedKurdistan Democratic PartyEmphasizing that they are an integral part of the Alliance to Save the Homeland, despite the green light given to them by a leaderSadrist MovementBy bloc with the rest of the parties to form a government within a maximum period of thirty days.

Al-Sadr’s deadline, which was granted to all parties, will expire, and with it the political forces will not see any steps forward, and matters will remain stuck in a spiral of congestion unless there is a final agreement between the parties to the conflict, specifically the framework forces and the current, because of what some MPs have spoken

A fierce war..and on the impact of it, the political forces exchange accusations to the extent that the scene shifted from a political blockage to attempts to break the bone, according to the description of MPs


Adviser to the Prime Minister determines the impact of the Federal Court's decision on the white paper

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Today, Wednesday, Adviser to the Prime Minister, Mazhar Muhammad Salih, determined the impact of the Federal Court's decision regarding the Emergency Food Security Support Law on the white paper.

"The reform white paper is closely related to the issue of financial and economic sustainability in an interactive and coherent manner," Saleh said, in a statement to "Khabar Press Agency" (AP). He added that "the indicators of financial reform that flow into the mentioned sustainability mechanisms require the availability of a regular annual financial plan supported by the indicators included in the legislated general budget law within its timing established by the amended Financial Management Law No. 6 of 2019, through financial policy tools in implementing financial and economic reforms." .

He added that "the indicators and timing of the approved white paper will face a clear slowdown and imbalance in timing and implementation, because the fiscal policy has started working with partial reformist constants, which requires reconsidering the timing of implementing the white paper again to suit the conditions of the country's fiscal policy in general and the economic policy in a more stable and continuous manner.


Reuters: Al-Kazemi's Government Seeks To Keep Western Companies In Iraq And Ban Chinese Companies

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A Reuters report revealed, on Tuesday, that the Iraqi Oil Ministry has thwarted, since last year, three deals that would have given Chinese companies more control over its oil fields and lead to a mass exodus of major international oil companies that Baghdad wants to invest in its dilapidated economy.

The report, which was translated by the “Information” agency, stated that, “Since the beginning of 2021, the plans of the Russian Lukoil Company and the American ExxonMobil to sell stakes in the main fields to Chinese companies backed by the state were thwarted as a result of interventions from the Iraqi Ministry of Oil, while there was also a share sale to a Chinese company, one of the The many options that BP is considering, but Iraqi officials have convinced it to stay in Iraq for the time being, people familiar with the matter said.

He added, "Seven oil officials and Iraqi executives in companies operating in Iraq said in interviews that the Iraqi government and officials in state-run companies are concerned that the increased integration of fields in the hands of Chinese companies may accelerate the migration of Western oil companies, while three people familiar with the matter said. On the matter, Iraqi Oil Minister Ihsan Abdul-Jabbar, with the support of state oil company officials, dissuaded Lukoil last year from selling a stake in one of the country’s largest fields, West Qurna 2, to the Chinese state-owned Sinopec.

And the report continued, "Iraqi officials intervened last year to prevent Chinese companies from buying the US Exxon Mobil share in the West Qurna First field and to persuade the British BP to stay in Iraq instead of transferring its interests in the giant Rumaila oil field to a Chinese company."

And the report indicated that “the Iraqi Oil Ministry did not respond to requests to comment on the deals or the minister’s role in any interventions, while two government officials said that the government was concerned that Chinese hegemony could make Iraq less attractive for investment from other places, while an Iraqi official said he refused to disclose. About his identity, "We do not want the Iraqi energy sector to be described as an energy sector led by China, and this position is agreed upon by the government and the Ministry of Oil."

It is noteworthy that "China is the largest investor in Iraq, and Baghdad was the largest beneficiary last year of the Belt and Road Initiative in Beijing, as it received 10.5 billion dollars in financing for infrastructure projects, including a power station and an airport."


Pictures.. Sadr's supporters gather in Baghdad to support his steps

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correspondent reported this evening, Tuesday, that hundreds of followers of the leader of the Sadrist movement, Muqtada al-Sadr, took to the streets in two areas in the capital, Baghdad, to show their support for his steps and decisions.

Our correspondent said that hundreds of Sadr's supporters in Sadr City, east of Baghdad, took to the street to express their support for their leader.

This comes a day after the stinging attack launched by the leader of the Sadrist movement, Muqtada al-Sadr, yesterday, Monday, on the Iraqi judiciary, accusing it of keeping pace with the "disgraceful" actions of the blocking third, and at the same time threatening the "blocking third."

Al-Sadr said in a speech addressed to the Iraqi people, followed by Shafak News Agency, that "the people suffer from poverty, as there is no new majority government that may benefit them, nor the current government that can serve and benefit them." ?". Referring to the judiciary's decision to repeal the Food Security Law.

He added, "They target the people and reject their subjugation, and the most amazing thing is that the judiciary is keeping pace with the disgraceful acts of the blocking third in terms of knowing or not knowing," noting that "the authority blinded them to the weight, fear and shortage of money and lives, militias' domination, dependency, and fears of normalization and epidemics."

Yesterday, Sunday, the leader of the Sadrist movement, Muqtada al-Sadr, announced the trend towards the opposition, after the failure of the political parties, including his Sadrist bloc, to form the Iraqi government, months after the legislative elections in the country.

Al-Sadr called on the parties and parliamentary blocs, including "the Sovereignty and the Democratic Party) to form a government.

It is noteworthy that the leader of the Sadrist movement, Muqtada al-Sadr, launched two initiatives to form the federal government, one of which announced its failure, which he granted to the coordination framework at the beginning of last April, and the other he launched to independent deputies on the third of this month, giving them 15 days to carry out the task of forming the government in cooperation with allies in The Triple Alliance (Save a Homeland) from the Kurds and Sunnis without representing the Sadrist bloc as ministers.

Photos.. Sadr's supporters gather in two areas of Baghdad

 

Photos.. Sadr's supporters gather in two areas of Baghdad

Photos.. Sadr's supporters gather in two areas of Baghdad

Photos.. Sadr's supporters gather in two areas of Baghdad


Banking Services Exhibitions

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Banking Services Exhibitions

 

There is a question posed by the phenomenon of banking services exhibitions, which has been recurring in a remarkable way, that is, does the public benefit from holding these exhibitions in the context of the priorities of the banking industry in Iraq as much as it needs to obtain advanced banking services in line with quality standards in the type of service and the number of branches, as the presence of a branch One banker for every 40,000 citizens is a global standard?

The answer here does not cancel out the importance of the presence of such exhibitions within the framework of the financial inclusion program, with the aim of raising banking awareness among the public and promoting banking services in the competitive arena, as economic demonstrations, festivals and exhibitions are one of the most important promotion tools in all countries of the world that have been able to raise the banking industry to The level of service access to the public's homes through banking applications on the Internet and mobile banking websites.

However, the discussion here about banking services exhibitions is directly related to countries that have been able to raise their banking sectors to the point of identification with the global banking industry, while in our country we need great and sustainable efforts and on multiple axes, foremost among which is the introduction of technologies, raising the efficiency of workers and qualifying middle and advanced leaders, as well as the importance of Strengthening financial positions and horizontal expansion in the delivery of services, towards dedicating the priorities of restoring public confidence in the Iraqi banking sector, in order to withdraw the hoarded cash mass at this particular time, and recycle it in the banking arena with the aim of creating sustainable development.

These goals necessarily require access to banking services to all societal groups at the farthest geographical point within the borders of the state, and to encourage all age groups with the aim of opening bank accounts for them, and getting out of the idea of economic futility from poor areas, as the basic rule of banking culture cannot be divided. Depending on the areas of poverty and wealth, in a country where the middle class is intertwined with the poor class in many geographical areas. 

While most modern cities suffer from the absence of banks in them, as in the vertical construction cities on the outskirts of Baghdad. The first is that the banks spend their money on opening new branches in these areas. And that its administrations be aware that spending on exhibitions (which will not end with the increase in the number of companies in the new sector in Iraq) with each invitation addressed to the administrations may constitute a total over the course of a year funds in which the service can be improved within the operating branches, some of which suffer from deterioration in the halls Waiting in light of the crowding that is repeated daily, hoping that the bank administrations will take measures to reduce the public's discontent without invoking the lack of financial allocations.

 

electronic payment

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The electronic payment process is one of the manifestations of the modern economy, in most countries of the world, as people no longer need to carry money in their bags or hoard it in their homes, which may expose it to theft or fire, as well as disrupting and obscuring its developmental effectiveness and economic cycle, and the payment process has become electronic It prevails, through many modern mechanisms and technologies, and all commercial transactions, whether small or large, take place through these mechanisms. This happens even in countries that are considered poor and underdeveloped. In Kenya, for example, the African country is mired in poverty, and lacks sidewalks for its streets. Its citizens deal with electronic payment, in everything, they put their modest balances in financial bags in their mobile phones, and when a person buys, A bunch of celery, for example, he transfers the price from his phone directly to the phone of the vegetable seller, as each has an electronic account.

Speaking about electronic payment in Iraq, there have been important steps that have taken place since 2013 until now, but on the other hand, we have not yet reached the stage of dispensing with carrying money in pockets. If we take, for example, the issue of localizing salaries electronically, the facts indicate that Its success is in many joints, such as moving the wheel of development sectors through its contribution to providing many job opportunities, and it has also supported many banks, which were eventually able to improve the level of banking services provided to their customers, but in return, we are witnessing queues of employees. Instead of standing in front of the accountant when they were receiving their salaries manually, today we see them standing in long queues, in front of ATMs, to withdraw their salaries without leaving a penny in their balances.

Which leads to the malfunction of these devices, or the running out of money in the teller, as a result of pressure. As for why the employees resort to this, the answer is simply, that our lives are still manual in all its details, you and I are obliged to pay the wages of the generator, the Internet, the rent of the house, and the shopping, And buying clothes, fruits, and everything, except for cash, and there may be some exceptions and experiences that represent important success stories in the field of electronic payment, but they are still below the level of ambition, and do not reflect the size of the huge cash block circulating in the economic and commercial scene, and here we can work on Automating payment and commercial exchanges, in a more comprehensive way, within the framework of expanding financial inclusion operations, and electronic payment operations can start from state institutions that provide their services to citizens.

It is true that quite a few of these institutions have opted for the automation of their services, but they are still incomplete, as we still need a lot of mutual trust between the two sides of the equation, the service provider and the beneficiary. For people, in order to increase their demand, and we also need integrated infrastructure that meets the requirements of this process, which is of paramount importance, as electronic payment operations would contribute to shortening time and effort, and even easing congestion in the streets. Every day, there are hundreds of thousands of Citizens who review state institutions, all of them will not need to be reviewed, if all processes are automated, starting from submitting transactions to paying fees and financial dues electronically.



Below here is the WOTS for the day "Word on the Street" report:

The dollar exchange rates rose today, Wednesday, on the Iraqi Stock Exchange.

Selling price: 148,250 dinars per $100

Purchase price: 148000 dinars per 100 dollars


The Markets:
The Asian markets closed mixed NIK up by 3.00% HSI by .20% SHANG down by .25%
The UK markets are currently trading in the green from .03% to .15% 
Our futures are currently trading down  DOW at 32548 by .10% SNP at 4075.25  by .23% NDX at 12505.75  by .46%

Precious Metals:
Gold is red at 1817 Silver is red at 21.73 Copper is red at 423 Platinum is green at 957 

Brent 113 WTI  114   Bitcoin: 29,986  10 yr yield: 2.95


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1457.0000  1463.0000 1456.2000 1455.9000 1455.9000  -1.5000 11:00
 USD/VND  23139.0000  23143.0000 23051.3200 22893.5400 22893.5400  175.2000 04:32
 USD/CNY  6.7412  6.7432 6.7563 6.7358 6.7358  0.0048 05:08
 USD/KWD  0.3062  0.3072 0.3065 0.3063 0.3065  -0.0002 04:24
 GBP/USD  1.2413  1.2414 1.2500 1.2372 1.2490  -0.0079 05:10
 USD/IRR  42100.0000  42600.0000 42232.1000 42213.8000 42232.1000  -101.7000 10:37
 USD/IDR  14666.0000  14680.0000 14714.0000 14630.0000 14632.0000  34.0000 05:10

Things in the News:

Iraqi Articles:
Video of what was said about Iraq to the UN yesterday https://www.youtube.com/watch?v=p-zE-XZGnvo&ab_channel=UNIraq

The United Nations warns of "the boiling of the Iraqi street" due to the failure of its leaders

link

The United Nations warned of "Iraqi people's anger that may explode at any moment", due to the failure of political leaders to address a number of basic issues, including the suffering of the Iraqi citizen from poverty and lack of security.

 

Jenin Hennis-Plasschaert, the UN envoy to Iraq, said after a UN Security Council session that Iraq and the region could not afford to return to October 2019.

And she warned that "the negative aspects of Iraqi political life are still repeating themselves in an apparently continuous cycle of zero-sum policy," adding that "more than seven months after the parliamentary elections, several deadlines for forming the government were missed."

She also issued a warning to political leaders in Iraq not to hide behind the argument of not forming a government, which she said "distracts attention from what is at stake."

She added, "This does not justify a political stalemate in which armed groups launch missiles with impunity, and the ordinary citizen suffers. Rather, it justifies a political stalemate that is expected to escalate into public anger at any moment."

She stressed that the time has come to restore the rights of the Iraqi people, who demand adequate services for all their citizens.


Oil prices rise due to China

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Oil prices rose by more than a dollar a barrel in early Asian transactions, today, Wednesday, supported by hopes for a recovery in demand in China, as the country gradually eased some of the most severe restrictions to combat the Corona virus.

Brent crude futures rose $1.15, or 1%, to $113.08 a barrel, while West Texas Intermediate crude futures rose $1.62, or 1.4 percent, to $114.02 a barrel, compensating some of its losses after prices fell by about 2% in the previous session, according to "Reuters". .

And US crude futures contracts ended trading on Tuesday at a level higher than Brent contracts for the first time since May 2020.

A legal expert resolves the controversy over the legality of passing the “new” food security law

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Today, Wednesday, the legal expert, Haider Al-Sufi, resolved the controversy over the legality of the legislation of the Food Security Law, which was submitted by the Finance Committee of the House of Representatives.

Al-Sufi said in an interview with "Mawazine News", that "there is no legal problem with the Parliamentary Finance Committee's submission of the Food Security Law, as it is the powers of Parliament to legislate laws, and these powers are not prohibited or limited by the Federal Court, as is the case with the caretaker government."

Al-Sufi explained in his speech, "The decision to ban is for the caretaker government only, and not for the parliamentary committees."

It is noteworthy that the Federal Supreme Court decided, last Sunday, to cancel the draft law on emergency support for food security and development based on a lawsuit filed by Representative Basem Khashan. Ended 29/N33

The First Deputy Speaker of the House of Representatives Hakim Al-Zamili said, yesterday, Tuesday, that "the new food security law was submitted by the Parliamentary Finance Committee as a draft law and it will be read first by the House of Representatives, voted on and transferred for implementation by the government.


The 30-day deadline... What do allies of al-Sadr say?

link

Al-Sadr's allies: We will not abandon the National Salvation Alliance.. The trio is coherent and firm.

Thirty days before all political parties in a new test and another deadline to form the government amid parliamentary expectations that talk about the continuation of the blockage and there is no government without consensus

They are firm and cohesive.. Al-Sadr's partners are neither alliances nor blocs outside the scope of the tripartite alliance. This is what the deputies announcedKurdistan Democratic PartyEmphasizing that they are an integral part of the Alliance to Save the Homeland, despite the green light given to them by a leaderSadrist MovementBy bloc with the rest of the parties to form a government within a maximum period of thirty days.

Al-Sadr’s deadline, which was granted to all parties, will expire, and with it the political forces will not see any steps forward, and matters will remain stuck in a spiral of congestion unless there is a final agreement between the parties to the conflict, specifically the framework forces and the current, because of what some MPs have spoken

A fierce war..and on the impact of it, the political forces exchange accusations to the extent that the scene shifted from a political blockage to attempts to break the bone, according to the description of MPs


CBI Update:  Just  a note:

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction for May 18th, 2022 total sales amount $197,812,803. 

including   $19,400,000. CASH 


ISX Update:   

www.isx-iq.net/   

Shares Traded: 
Value Traded: 

closed 

https://www.dinarguru.com/

5-18-2022   Newshound/Intel Guru Mnt Goat   So, Iraq currently has two main ongoing critical sagas now taking place... The first is the elections and forming the new government...I want everyone to remember that months ago the CBI told us that the initiative to complete the currency changeover and thus later the reinstatement, was approved and just waiting for the president to be announced and then the rest of the political process to form the government to follow.  The second is getting the 2022 budget.
5-17-2022   Newshound Guru Militiaman  As for when it will happen is always a question in many peoples minds...The whole process is unique...We can see that by the likes of the WB, the IMF, the AMF, the G7, G20+, WTO, AYSCUDA, BUNA, CRS2, ISO20022 digital platforms and or systems, etc.. Interlinking all those entities while trying to sort a convoluted process of seating the government to have credibility is directly in the forefront today.  They'll all need that to have the confidence needed for investors to have security and stability.

5-17-2022   Intel Guru MarkZ   [via PDK]  ...the first reading of the Food Security law has happened. They will read a bill 3 times and it is already receiving overwhelming support.  The second reading is tomorrow. I do not know how quickly we will get a third reading. When the last reading is done and passed…contacts in Iraq tell me that is when we will get the new rate…This is what I am told from people that work inside Iraq and involved with the Finance Ministry. This is fantastic news...

5-17-2022    Intel Guru Sheila   [via MarkZ]  ...standing by for notifications and is hearing this is our week...

5-17-2022   Newshound Guru Kaperoni   ...There is no exchange in Reno. The only exchanges that have talked about in Reno were scams and people lost their funds.

5-17-2022   Newshound Guru Clare  Article:  "The Iraqi parliament sets tomorrow, Wednesday, the first reading of the Food Security Law"

5-17-2022   Intel Guru MarkZ   [via PDK]   [what is the first reading of the food security law which is scheduled for tomorrow. Is that a Vote?]  It could be a vote…we don’t know at this time. They are expected to read it and possibly approve it if there are no changes made. We are also hearing they are to present several candidates to set their government tomorrow. So we expect tomorrow to be a big day in Iraqi politics.

5-17-2022   Newshound Guru Pimpy   Let's review again the criteria necessary to change the exchange rate.  You have to have a stable government.  Do we have one?  No.  The other one is you have to have a safe and stable country.  Does Iraq have a safe and stable country?  Well they're launching missiles - I'm gonna go out on a limb and say no they don't.  Will all the fighting with political members and people launching missiles at one another it makes it really hard to change the exchange rate.  You have to have a country outside investors feel comfortable and safe about investing into.  

5-17-2022   Newshound/Intel Guru Mnt Goat  ...in 2011 the plan was laid out in an article by the CBI. So far they have stuck to this plan. We have seen all the necessary banking reforms, the completion of payment of war debt to Kuwait and all the necessary ties into the international investment arena so that the dinar could be used internationally. Why would they bother to do all this if they were not going to reinstate the dinar and trade the dinar internationally?  ...This reinstatement is coming as there is just too many past events that paved the way to it already to doubt...This is the perfect time for the reinstatement of the dinar.

5-17-2022   Newshound Guru Sandy Ingram   Community comment "Oil has nothing to do with Iraq's revalue, float or whatever they're going to do."  ...This could not be further from the truth...a county's finances has everything to do with the foreign exchange rate thus we talk about Iraq's huge oil revenue and how they are adding to their streams of income.  It looks like Iraq's income is about to become even larger...

5-17-2022   Intel Guru MarkZ   [via PDK]  [Will there be state taxes on the RV?]  I don’t believe there will be any State taxes on the RV…i may be wrong…so best to be prepared just in case.  [NOTE:  Always check with your tax professional at the appropriate time to determine your taxes for your unique circumstances.]


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