WOTS FRI JUL 1 22 Does the coordination framework do it and reduce the price of the dollar to 1200 dinars,
Does the coordination framework do it and reduce the price of the dollar to 1200 dinars, or is its price fixed for 3 years, as stipulated by the International Monetary Fund?
more confusion
In the midst of the political debate and the digital inflation of the “Coordination Framework” bloc, after it obtained dozens of new deputies, as a result of the resignation of members of the Sadrist movement, the efforts of some of these deputies headed towards the possibility of adjusting the exchange rate, a step that comes within the clash of policies between Nuri al-Maliki and Muqtada al-Sadr, who supported the amendment in 2020.
Representative in Parliament, Uday Awad, announced that he had collected the signatures of more than 100 deputies to reduce the dollar exchange rate, while the financial advisor to the Prime Minister, Mazhar Muhammad, spoke about the possibility of taking this step.
Muhammad said in a televised statement: “We need to cook on a quiet fire, and monitor prices until the end of 2022, oil prices and foreign reserves,” stressing that “changing the exchange rate is possible, but it requires patience and careful study.”
Specialists stress that the news that talks about the possibility of changing the exchange rate, although it is premature and is currently excluded, affects and “destroys” the local market.
In this aspect, the economist Duraid Al-Anzi said that “the exchange rate change had a wrong start, due to the absence of the requirements for this change, as the sudden rise of the dollar led to a decrease in the value of the dinar and its purchasing power, and talking about returning it to the previous price will lead to greater problems than the first, in light of the crisis.” The global economy and constant price inflation, as a result of various circumstances, the most powerful of which was the Russian-Ukrainian war.”
Al-Enezi added, “The market and the simple citizen are demanding a change in the exchange rate, and a return to its previous state, but this process of change may take many years, and whether it is an increase or decrease, it will cause the destruction of the Iraqi economy.”
Several parties warn that the repetition of changing the exchange rate within short times without studying by the concerned authorities leads to an economic recession, confuses the work of local markets, increases speculation on foreign currency and squanders the gains made by the current exchange rate.
Specialists confirm that the dollar exchange rate will remain for another three years, due to the existence of an agreement between the Iraqi government and the International Monetary Fund, related to financial policy, and managing the issue of the dollar exchange rate, in proportion to the volume of currency circulating in the market.
In turn, the researcher in economics, Dr. Abdul-Hassan Al-Shammari, said, "The Central Bank always confirms that there is no change in the exchange rate, and the government is moving in this direction as well."
Al-Shammari explained that "the local market is driven by capital owners, not the government, as the latter does not have clear economic visions to move the market, as the government today has a large surplus of oil imports, but its disposal is still limited."
For days, the Iraqi markets have been living on the impact of these conflicting news, especially since the political forces calling for the return of the dollar exchange rate have obtained additional seats in Parliament, allowing them to implement this.
Analysts: Federal decision on oil and gas law is the separation in the relationship of the region to the center
The Obelisk publishes 07/01/2022 the most important themes that the analysts of the Union Group for Political Analysis spoke about about the oil and gas law and the reasons for not approving it:
Dr. Abbas al-Jubouri: There are external forces that do not want this law to be approved, foremost of which is the American occupation and its companies, because it contributes to the return of funds to the Iraqi government.
Ibrahim Al-Sarraj: Settling problems and obstacles between Baghdad and Erbil stems from the approval of the oil and gas law. It seems that delaying and obstructing the draft law has clear objectives.
Atheer Al-Shara: There will be a breakthrough and deep understandings between the framework and the party, and several stalled laws will be discussed, including this important law.
Muhammad al-Yasiri: The judiciary must control the pace between the political parties, especially as it senses the danger of secession attempts in the region and knows for sure the expansion of the Democratic Party and its wide influence.
Muhammad Fakhri: The oil and gas file is controversial because it is linked to the acquisition of an important resource equivalent to ten times or a hundred times the revenues of the border crossings.
Juma'a al-Atwani: Because of the absence of this law, the region was able to take advantage of the legal vacuum in the process of exploring, extracting and exporting oil from the region without referring to the constitution.
Dr.. Mohsen Al-Ugaili: It is necessary to legislate the federal oil and gas law, which defines the powers and obligations of each of the two authorities, and I mean the federal authority and the authority of the region.
Writer and journalist Hussein Al-Zikr: Oil and gas concern the security, future, economy, and fate of the great powers, and not just a locally made material or extraction.
Aqil Al-Taie: The withdrawal of major oil companies from the region is tantamount to implementing the decision of the Federal Court, as it is a binding law for all.
The economist, Haitham Al-Khazali: It has become necessary to legislate the oil and gas law that regulates the marketing process and the distribution of wealth in a fair manner.
Qassem Al-Aboudi: The weakness of governments and the political conflicts that accompanied the political performance of all political parties since the fall of the previous regime until today, disrupted the oil and gas law.
Dia al-Din al-Hashemi said: The Kurds have never been partners in the service of the country, since the idolatry of the Baath fell, but rather partners in politics, positions and interests.
Writer Yousef Al-Rashed: The Iraqi government must take decisive measures against the regional government's intransigence and force it to submit to the central government.
Political analyst Manhal Al-Murshidi: The Federal Court's decision of the unconstitutionality of the oil and gas law for the Kurdistan region came as an icon of due right and complete justice in the balance of the Iraqi judiciary.
Political analyst Majed Al-Shuwaili: The region's rejection of this decision, and considering it a politicized decision, will make the next government an obstacle to its quarrels and blackmail.
Mahdi Al-Mawla: The fate of the Federal Court will be the same as the fate of the referendum on the secession of northern Iraq.
Halima Al-Saadi: Al-Kazemi’s government will fail to force Kurdistan to review its files, records, and final accounts for the past years, and to reveal balances and financial receivables in local and international banks and banks.
Dr. Qassem Balshan: The Federal Court has said its final word on this matter, and its ruling is binding and is not subject to appeal or discrimination.
Director of the Union Center for Strategic Studies Mahmoud al-Hashemi: The decision of the Federal Court may be a watershed in the history of the relationship between the region and the center, but Erbil will try to circumvent it and absorb the reaction.
Al-Rafidain participates in the largest financial exhibition in Iraq, which will start tomorrow
The media office of the bank stated, in a statement, that the agency {Euphrates News} received a copy of it, that "this important event is one of the largest exhibitions in Iraq, and alongside Rafidain Bank, many banks and other financial companies will participate in an event organized annually and collecting expertise in the banking field."
He pointed out, "This important financial forum in the banking sector is complementary to the activities of the Financial Inclusion Week, and the bank will present its many and varied products and services and marketing banking products to customers in this event, which aims to increase banking culture, open bank accounts, and promote small and medium enterprises for individuals, companies and other facilities and everything that related to spreading the banking culture.
Al-Kazemi will visit Maysan tomorrow, accompanied by a ministerial delegation
And the Ministry of Electricity, in a statement received by the Euphrates News Agency, called "all satellite channels, agencies and journalists, especially the Maysan governorate journalist, for media coverage of the opening ceremony of the Maysan gas investment station."
She pointed out that Al-Kazemi "will open the station, accompanied by the ministers of electricity, oil, and planning, the Secretary-General of the Council of Ministers, and the governor of Maysan, at exactly eight o'clock in the morning tomorrow, Saturday."
Ready for us” .. Al-Kazemi’s advisor talks about the details of the 2022 budget and when it will be sent to Parliament
Adviser to the Prime Minister, Mazhar Muhammad Salih, renewed, today, , Friday, the inability of the caretaker government, and according to the decision of the Federal Court, to send the budget to Parliament, stressing .its readiness with the government
Saleh said in an interview with (Baghdad Today): “If a government is formed in August or September, it is possible to pass a budget that will be in two forms, the first in which it guarantees the expenses of the year, i.e. from January to the date of its approval, and the second form in it includes a budget for the expenses of the ”.remainder of the year
He added that "it is not possible to send the budget at the present time, according to the decision of the Federal Court by the caretaker government, but the text of the ".2022 budget as a draft is ready for the government
Oil Ministry: $11.5 billion in revenues last June
A statement by the Ministry, of which the {Euphrates News} agency received a copy, stated that "the total amount of crude oil exports amounted to (101) million (191) thousand and (236) barrels, with revenues amounting to (11.505) billion dollars.
The statistics indicated that "the total quantities exported of crude oil for the month of June from oil fields in central and southern Iraq amounted to (97) million (980) thousand and (589) barrels, while from Kirkuk fields through the port of Ceyhan, the exported quantities amounted to (2) One million (910) thousand and (887) barrels.
She pointed out that "the average daily quantities amounted to (3) million and (373) thousand barrels per day, and the average price per barrel amounted to more than (113.70) dollars."
Al-Kazemi’s advisor: A package of income-generating technology projects awaits financial savings at the end of 2022
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Friday, that there is a wide range of income-generating technology projects that will be launched if financial savings are achieved at the end of the current fiscal year 2022, and while he stressed that they will help diversify Iraq’s financial revenues, he put forward his expectations regarding investment spending in 2023 budget.
Saleh told the Iraqi News Agency (INA), that "if the financial savings are achieved at the end of the 2022 fiscal year, which after approving the expenditures of the Emergency Support Law for Food Security and Development, it is expected to be with a balance of perhaps no less than 15 billion dollars, the state's economic policy is moving towards employing it." An investment in a wide range of technology projects that generate income and operate technical work.
He added, "This new package comes within the previous preparation to identify a package of major industries with a strategic character and export tendencies for the product that will depend on national inputs."
He pointed out that "the strong technology package policy will help diversify Iraq's financial revenues from outside the oil wealth sector and ensure a growth rate in the gross domestic product, at least twice the population growth rate."
He pointed out that "the exceptionally high financial accumulations will undoubtedly be matched by a policy of developing high-tech, efficient, profitable production projects and a high export power, and this is expected to be drawn when preparing investment spending estimates in the 2023 budget."
Political forces are discussing the political alternative in Iraq (7/2)
Today, Friday, political forces discussed building a political alternative in Iraq.
A statement issued by the political forces stated that Mawazine News received a copy of it, "In light of the aggravation of the political, economic and social crises in Iraq, and the adherence of the influential forces to the sectarian and ethnic quota system, the democratic, emerging and October civil forces and independent representatives held the second consultative meeting and the participants exchanged visions regarding Building a political alternative to the forces of destruction that achieves the aspirations of Iraqis to live in freedom, dignity and prosperity, under the state of democratic citizenship.
He added, "The meeting decided to form a joint committee to write a document of political and organizational principles, framing joint action between the gathered forces."
The attendees stressed, "the necessity of coordination with the social actor, including movements, unions, organizations and national figures, to be a partner in building the political direction, leading to the convening of a comprehensive national conference, in which we establish a real opposition project to the quota approach."
“Door to Door” .. a new gateway for economic and commercial linkage between Iraq and Jordan
Industry experts in Iraq welcome the increase in inter-investment with neighboring countries, through the tripartite movement between Iraq, Jordan and Egypt.
Intra-regional trade between neighboring countries is one of the most important elements for the advancement of the economy and the prosperity of its industrial, commercial and other sectors. For this reason, for years Iraq has been the first country to increase the volume of that trade with it.
In February 2019, the former Jordanian Prime Minister Omar Al-Razzaz and his Iraqi counterpart, Adel Abdul-Mahdi, held a session of talks in the presence of ministers and officials from both sides, in the border area between Al-Karama and Trebil, where the two parties agreed to start a new phase of joint cooperation and to introduce a set of agreements that It was previously signed for a group of vital sectors into effective implementation.
From these discussions, the agreement emerged to work on what is known as the “door to door” system between Iraq and Jordan, which requires the entry of Jordanian trucks into Iraqi cities, as well as for Iraqi trucks, as an alternative to the previous mechanism imposed by the security situation in Iraq. During the past years, under which truckloads were unloaded at the borders and transported with trucks from the other country, which exposed many materials to damage in addition to the additional cost borne by the exporting merchant.
Trade activation
In this context, the Director General of the Jordan Chamber of Industry, Dr. Nael Al-Husami, confirms that the "door to door" mechanism is working normally to transport goods and oil. In an interview with Al-Jazeera Net, he said that the loaded Iraqi trucks have the right to enter the Kingdom, as well as Jordanian trucks upon entering Iraq.
On the importance of this mechanism for the Jordanian economy, Al-Husami stressed that it contributes to activating the movement of land transport between the two countries, reducing the cost of transportation and avoiding damage to imported and exported goods. He revealed Jordan's aspiration to increase and develop work between the two countries at all commercial and economic levels.
Economic Connection Gate
Industry experts from Iraq praised the new step that will contribute to increasing inter-investment with neighboring countries through the tripartite move between Iraq, Jordan and Egypt, in addition to the renewed move with Saudi Arabia and Iran to make the country the gateway to economic linkage between East and West.
The consultant in industrial development and investment, Amer Al-Jawahiri, told Al-Jazeera Net that the "door to door" mechanism reduces the burden on the consumer, additional burdens that came from unloading and reloading goods, and reduces the damages that affect merchants on both sides.
But this agreement at the same time increases the flow of goods coming from Jordan to Iraq, including more than 390 Jordanian goods that have received customs exemptions, and indicated that this increases the difficulties for Iraqi producers or potential investors in Iraq to establish their projects due to the lack of competitiveness in advance. And he considered that customs exemptions are an obstacle to industrial development in Iraq.
Despite the importance of this mechanism, Al-Jawahiri puts some question marks, as many of the goods that will cross the borders may be among the types of materials covered by the exemption, even if they are not of Jordanian production, and may cross the borders to include customs exemption, since the Kingdom cannot produce all What Iraq needs and called for taking the necessary measures to avoid it.
There is another sign that Al-Jawahiri spoke of, which is the transportation of Iraqi oil through trucks through the mechanism, wondering whether the trucks are Iraqi or Jordanian? Supporting that it be Iraqi to encourage the carriers fully or equally between the two parties to benefit everyone from the transportation fees.
Iraqi export
For his part, the economic researcher, Nabil Jabbar Al-Ali, stresses the need for Iraq to build a strategy to increase Iraqi industrialization and industry in order to enhance exports, and he said in an interview with Al-Jazeera Net that "this strategy should focus on specific industries that have a comparative advantage, such as the oil industries, the refining industry and refining." oil, natural gas and petrochemical industries.
Al-Ali added that the mining of phosphates and sulfur and the interest in industries related to these two elements, especially fertilizers and pesticides, put Iraq on the map of competition in global markets, noting that the contribution rates of the industrial sector to the gross domestic product are very low, and do not exceed 2% during the current year, unlike the sector Oil, which has the largest share, which may reach nearly 50% of the Iraqi GDP for this year 2022.
A leader in the coordination framework reveals moves to restore al-Sadr
A leader in the coordination framework, Ahmed Al-Awadi, expressed today, Friday, the possibility of .a new understanding with the leader of the Sadrist movement, Muqtada Al-Sadr
Al-Awadi told (Baghdad Today), "The framework tried to dissuade al-Sadr from staying away from the political process before and after the decision to withdraw his bloc, but he closed the doors ".and the matter of returning to Parliament became a thing of the past
He added, "The attempts currently underway are to return al-Sadr to the source of the decision, ".specifically the formation of the government, and this is the only possible door now
Al-Awadi continued, "The framework will support al-Sadr in the event of his nomination for ".names, as it is important that everyone agree on who to nominate, his program and support Al-Sadr had ordered his winning bloc in the elections to resign from the House of Representatives, which opened the door wide for the coordination framework to form the .government
There is no second term for Al-Kazemi..a letter of "agreed" objection that closes the way for the Prime Minister
Today, Saturday, the coordination framework revealed an agreement .between the political forces regarding the position of the Prime Minister
The leader in the framework, Ali Al-Fatlawi, said in an exclusive statement to (Baghdad Today) that "the forces of the coordinating framework agreed to refuse Mustafa Al-Kazemi's assumption of a second term as prime minister during the next ".stage, and this matter is unanimously agreed upon within the framework
He added, "Al-Kazemi failed in many important files, but his government was a maker of many crises, especially economic and financial," noting that "Al-Kazemi's government witnessed a significant decline in the security file, and for this there is ".no justification for renewing the mandate for him
This was reported during the past months about the renewal of a second term for Al-Kazemi, especially after his recent visit to Saudi Arabia and Iran, while political circles and forces rejected the whole matter, stressing that Al-Kazemi failed a lot with many files, and his government was .unable to implement its government curriculum
The coordination framework renewed, earlier, its position rejecting the renewal of the current Prime Minister, Mustafa Al-Kazemi, for a second term, by assuming the .presidency of the next government This came in a comment by the leader in the framework, Ayed Al-Hilali, about AlKazemi’s scheduled visit to Iran in the coming hours, and its matter of renewing his .second term during the next stage Al-Hilali told (Baghdad Today), "The coordinating framework forces will not renew AlKazemi's second term, and this matter is agreed upon by all the framework forces," adding that "the framework does not have any pressure from any party, even the Iranian, and this is with the testimony of the leader of the Sadrist movement, .Muqtada." Sadr in his latest statement
He added, "Iran may not have any reservations about renewing Al-Kazemi's second term, but perhaps even support this matter, due to Al-Kazemi's closeness to the views between Tehran and Riyadh and between Tehran and the rest of the world and the disbursement of financial dues and other files," adding that "this matter does not mean The framework has something, and it is not possible to accept the renewal of the mandate, even if there is Iranian or other pressure on this file, even though it ”.does not exist until now
Disclosure of the date of the presidential election session: consensus is a matter of course
Today, Friday, the deputy of the Badr parliamentary bloc, Mahdi Taqi, revealed the date of the Iraqi parliament's session to elect the president .of the republic Taqi told (Baghdad Today), that "the holding of the Iraqi parliament session to elect the president of the republic will be after the start of the new legislative term, that is, after the end of the Eid al-Adha holiday, and this matter has to be agreed upon ".between the blocs and political parties
And he indicated that "the time from now until the session is held is sufficient for a Kurdish-Kurdish agreement to be reached on the candidate for the presidency, and in the event that the agreement does not occur, the session will be held and the Kurds will enter with more than one candidate, and the vote of the deputies remains the ".faction to decide the election of the president of the republic
A parliamentarian files a lawsuit against Al-Halbousi, and the Federal Court sets the date for the pleading session
The independent member of the House of Representatives, Basem Khashan, announced on Friday a lawsuit against Parliament Speaker Muhammad al-Halbousi on charges of violating the constitution and perjury.
The court set July 18 as the date for a session to consider the request for a ruling to convict the defendant, Muhammad Rikan al-Halbousi, on the charges brought against him above by the plaintiff, Basem Khazal Khashan.
Khashan said in a post on social networking sites, that the Federal Supreme Court remains the guarantor of constitutional rights, and all ways to protect these rights lead to this court, and my effects have been printed on these roads for years, because I pinned all my hopes on the judiciary and the Federal Court.
"I will not fail to appeal against any law, regulation, decision, or procedure that contradicts the constitution, regardless of who benefits from my appeal or is harmed," he added.
In the previous period, Khashan had submitted appeals in several cases and won some of them, most notably canceling the draft law on emergency support for food security and development sent by the current caretaker government to the Iraqi parliament.
In the presence of Blackshart.. a new meeting of the Kurdish parties next week to discuss these files
A member of the Kurdistan Regional Parliament for the Kurdistan Democratic Party, Sabah Hassan, confirmed today, Friday, that another .meeting will be held for the Kurdish parties next week Hassan told (Baghdad Today) that "the Kurdish parties will try to resolve the files of the Kurdistan Regional Parliament elections, fix their date, and discuss the election ".law and the commission
He added that "the meeting will be held at the headquarters of the Presidency of the Kurdistan Region and sponsored by it, and in the presence of the representative of ".the United Nations, Jenin Plasschaert
He stressed that "this meeting will be the beginning of resolving all outstanding ".problems between the Kurdish parties, especially between the two main parties
Alia Nassif tightens the screws on Barham Salih’s fortunes: Not signing ended the presidency
Representative of the State of Law coalition, Alia Nassif, confirmed that the chances of President Barham Salih for a second term have become very difficult, noting that his failure to ratify the law criminalizing the Zionist entity will be the main reason for not achieving the second term.
Nassif said, "The issue of the law criminalizing normalization is not related to the coordination framework or the previous tripartite alliance, but rather to national principles and the presence of a broad Iraqi spectrum that considers the issue of criminalization an ideological issue and cannot be tolerated."
She added that "President Barham Salih's chances for a second term have become very difficult," noting that "his failure to ratify the law criminalizing the Zionist entity will be the main reason for not achieving the second term."
Nassif explained, "The law still needs to be amended, as it allowed religious visits, and this permit, we believe in itself, will be a door to normalization," noting that "the articles of the previous Prohibition of Freemasonry Law No. 201 were the first to add one or two paragraphs to it instead of legislating a new law because it is more stringent. with the Zionist entity.
Coordination ends the controversy: This is the next prime minister .. But
The leader in the coordination framework that brings together Shiite political forces, Ali Al-Fatlawi, revealed today, Friday, the approach of the prime minister who will .lead the next stage in Iraq
Al-Fatlawi told (Baghdad Today), "The new prime minister will be strong, efficient, honest, a noncontroversial personality and has political experience, and this is what the Shiite coordination ".framework is looking for, away from names
And he indicated that "the leaders of the coordination framework are looking for the specifications of the prime minister before his name, and his selection will be by agreement and unanimity among all the forces of the framework, but until now the discussions have not reached ".an official presentation of the names, but the search is currently for the specifications
And the resignation of the Sadrist movement, which won the elections, opened the way for the coordination framework to form the government, as it prepares to negotiate with the rest of the .political blocs to form the next prime minister
The World Gold Council reveals the reserves of the Arab countries of the yellow metal
The World Gold Council published its report for the month of June 2022 of the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.
Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.
In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.
In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.
With regard to the share of gold in the international reserves of Arab countries, the data shows that Lebanon leads the Arab countries in this indicator, as the precious metal constitutes about 50.7% of the total value of its reserves, in the second place comes Egypt, and gold constitutes about 21.8% of its international reserves.
The following is a table showing the ranking of the Arab countries in gold reserves, and the share of gold in the reserves of these countries, based on the World Gold Council report for the month of June 2022:
A fierce struggle between independent representatives for the position of prime minister .. Will the framework give him up in their favour?
Insinuations and statements by some leaders of the Shiite coordination framework about authorizing the Shiite independent representatives exclusively with the task of naming the prime minister among them ignited the appetite of those representatives who swallowed the bait, as one of them says, while the independent representative Mustafa Sanad confirms that the framework actually promised them the position, But he is not entirely sure he will be able to keep his promise.
At this time, the Independent Iraq Coalition confirmed that there is a commitment with the largest Shiite bloc represented in the coordination framework to nominate a prime minister by the coalition exclusively.
The head of the coalition, MP Mohsen Al-Mandalawi, said in a press interview, "The next prime minister will be a candidate for our exclusively independent bloc, and an independent figure is currently being nominated to be submitted to the coordinating framework to fill the position."
He added, "Some independent blocs, such as Tasmeem and Ishraqa Kanon, decided not to participate in the government, and to limit their work to parliamentary committees," stressing "the readiness of independent representatives to run any ministry that is agreed upon with the political forces after the increasing popular demands to appoint independent figures for service ministries."
But the independent representative, Hussein Arab, confirmed that the statement of the coordination framework after his last meeting indicated that he would ask all Shiite political forces and independent representatives of the Shiite component to nominate one person to compete for the selection of the next prime minister, indicating that the independent representatives of the Shiite component stipulated that the framework Their candidate is not testable.
Arab said, "The coordinating framework, after its last meeting, indicated that it will ask all Shiite political forces and independent representatives of the Shiite component to nominate one person to compete for the selection of the next prime minister."
He explained, "Independent MPs from the Shiite component have no problem with nominating a personality for the post of prime minister, but on one condition."
And Arabs, that “the independent representatives of the Shiite component stipulated on the framework that their candidate is not subject to testing, and on the contrary, they will not accept the invitation as a mere dropping of an imposition and only a fictitious one,” believing that “the invitation is not serious for the rest of the small forces inside or outside the framework.
The Central Bank takes binding measures to combat money laundering in Iraq
The Central Bank of Iraq revealed, today, Friday, its measures in the field of combating money laundering and terrorist financing, confirming that it had also issued binding decisions in this regard.
The representative of the Anti-Money Laundering and Terrorist Financing Office at the Central Bank, Hussein Al-Mukarram, told the official news agency, Mawazine News, that "Iraq's procedures regarding combating money laundering and terrorist financing are represented in the issuance of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and many regulations. The instructions, controls, circulars and guidelines in particular, which were all issued in light of international requirements and standards and in accordance with local requirements.
He added that "the identification of the supervisory and supervisory authorities on the business sector and the specific non-financial professions has been completed and the due diligence controls for combating money laundering and terrorist financing have been prepared for each sector, the last of which is the real estate sector."
He stressed that "there are decisions that included obligating all financial institutions to form departments to report suspicious financial transactions and give them independence in their tasks, and to prepare a guide for policies and procedures to combat money laundering and terrorist financing in light of which work is carried out and to be available to all workers in financial institutions."
He added, "The procedures also included obligating financial institutions to acquire electronic systems to combat money laundering and terrorist financing for the purpose of extrapolating the monitoring of suspicious financial operations and reporting them to the Anti-Money Laundering and Terrorist Financing Office," noting that "Iraq is committed to all international requirements to combat money laundering and terrorist financing issued by the working group." Finance (FATF), in addition to completing the conditions for joining the Egmont Group.
He pointed out that "many specialized training courses have been held in combating money laundering and terrorist financing, combating financial crimes, penalties and bans, and employees of banking and non-banking financial institutions have been involved in them."
And he indicated that "the measures taken by the Anti-Money Laundering and Terrorist Financing Office at the Central Bank of Iraq, including:
1. Acquisition of the (go-AML) system, which is concerned with receiving reports and financial data through electronic linkage with all the parties obligated to report.
2. Preparing systems and databases For the office, which includes data and information from other parties that help analysts to complete the financial investigation procedures
3. Holding memoranda of bilateral cooperation with various parties within the anti-money laundering and terrorist financing system to facilitate the exchange of information, and concluding several memoranda of understanding with counterpart units in other countries similar to the work of the office.
4. Continuing to train employees of other sectors in ministries, government departments and the public sector for the purpose of spreading awareness of combating money laundering and terrorist financing based on the comprehensive training plan prepared by the office for this purpose, and the office continues to involve its employees in workshops and training courses offered by various organizations He explained that “these procedures resulted in an increase in the number of suspicious financial transactions received by the Office from various entities obligated
to report, which resulted in an increase in the reports submitted by the Office to the Public Prosecution Presidency to take the necessary action. Regarding it, there were (15-25-34-24-39) reports during the years (2017 and 2021) respectively, and each report included a number of reports on a number of companies and people, and this increase was reflected in the issuance of a large number of convictions by the competent courts. .
He stressed that "the increase in the transmitted reports is a result of the measures taken to encourage financial institutions to report suspicious transactions and exchange information with law enforcement agencies, which contributed to the completion of the analysis of those transactions and the identification of suspicions of money laundering and terrorist financing."
Iran to launch a pilot version of its CBDC towards end of August
Iran is launching the pilot version of its central bank digital currency (CBDC)—the crypto rial. The governor of the Central Bank of Iran (CBI), Ali Salehabadi, has disclosed that his agency is putting the finishing touches to roll out the pilot by the start of the Persian calendar month of Shahrivar, which starts on August 23.
According to a report by Iran Front Page News (IFP News), the governor explained that the pilot will kick off in one region before other parts of the country are on-boarded.
He also expressed high expectations of the CBDC project. The CBI governor stated that it will be different from current digital currencies and has been designed solely to “replace the banknotes that the people currently possess.”
His remarks came after the CBI informed commercial banks of new regulations that paved the way for a CBDC launch in April. The new rules detailed how the minting, distribution, and redemption of the crypto-rial are to be carried out.
Specifically, it stipulated that only the CBI has the authority to mint the digital currency and is responsible for deciding its maximum supply.
In a separate update during the period, the Iran Chamber of Commerce, Industries, Mines, and Agriculture noted that the CBDC would be issued on a permissioned distributed ledger technology (DLT) network. The platform is developed by Iran’s Informatics Services Corporation and uses the Hyperledger Fabric hosted by the Linux Foundation.
Iran exploring DLT technology as a solution to international sanctions
Iran’s pursuit of blockchain technology adoption has several motivations, of which circumventing sanctions is one. Earlier this year, the Middle Eastern country fiddled with the idea of legalizing digital currencies for use in international settlements.
At the time, reports revealed that the Ministry of Trade was to partner with the central bank to allow importers and exporters to settle transactions using digital currencies that would be integrated by the CBI.
Meanwhile, Iran continues to maintain an uncertain digital currency regulatory regime. Trading of digital assets is prohibited in the country. Block reward mining remains legal but is faced with the challenge of multiple power cuts.
Just this month, the country announced that it would cut power to block reward miners starting in July. This is to meet up with peak-summer energy demand.
Below here is the WOTS for the day "Word on the Street" report:
dollar against the Iraqi dinar today, Friday, July 01, 2022, from the Iraqi markets and the stock exchange for several provinces.
Basra – BursaErbil – Bursa148,300———————Mosul – Bursa148,350———————Sulaymaniyah – Bursa148,325Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1421.0000 |  1478.3000 | 1457.1000 | 1457.1000 | 1457.1000 | 0.5000 | 06:10 |
| USD/VND | 23300.0000 | 23330.0000 | 23274.3600 | 23256.0800 | 23270.3600 | 26.3200 | 04:47 |
| USD/CNY |  6.6975 | 6.6995 | 6.7141 | 6.6938 | 6.6985 | -0.0016 | 05:25 |
| USD/KWD | 0.3063 | 0.3073 | 0.3063 | 0.3063 | 0.3063 | -0.0001 | 05:10 |
| GBP/USD | 1.2076 | 1.2077 | 1.2180 | 1.2060 | 1.2174 | -0.0097 | 05:31 |
| USD/IRR | 42100.0000 | 42600.0000 | 42378.5000 | 42358.6000 | 42378.5000 | 29.3000 | 11:44 |
| USD/IDR | 14954.0000 | 14958.0000 | 14978.0000 | 14919.0000 | 14919.0000 | 37.0000 | 05:30 |
Travel chaos spells worst July 4 getaway ever...
DELTA pilots picket airports...
CEO Apologizes for Disruptions...
STOCK MARKET WORST SINCE 1970...
BITCOIN MONTH FROM HELL...
Media Crashes in First Half of Year...
Newspapers Continuing to Die -- at Rate of 2 Each Week!
Fear of recession could become self-fulfilling prophecy...
Home Listings Suddenly Surge...
The Central Bank takes binding measures to combat money laundering in Iraq
The Central Bank of Iraq revealed, today, Friday, its measures in the field of combating money laundering and terrorist financing, confirming that it had also issued binding decisions in this regard.
The representative of the Anti-Money Laundering and Terrorist Financing Office at the Central Bank, Hussein Al-Mukarram, told the official news agency, Mawazine News, that "Iraq's procedures regarding combating money laundering and terrorist financing are represented in the issuance of the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and many regulations. The instructions, controls, circulars and guidelines in particular, which were all issued in light of international requirements and standards and in accordance with local requirements.
He added that "the identification of the supervisory and supervisory authorities on the business sector and the specific non-financial professions has been completed and the due diligence controls for combating money laundering and terrorist financing have been prepared for each sector, the last of which is the real estate sector."
He stressed that "there are decisions that included obligating all financial institutions to form departments to report suspicious financial transactions and give them independence in their tasks, and to prepare a guide for policies and procedures to combat money laundering and terrorist financing in light of which work is carried out and to be available to all workers in financial institutions."
He added, "The procedures also included obligating financial institutions to acquire electronic systems to combat money laundering and terrorist financing for the purpose of extrapolating the monitoring of suspicious financial operations and reporting them to the Anti-Money Laundering and Terrorist Financing Office," noting that "Iraq is committed to all international requirements to combat money laundering and terrorist financing issued by the working group." Finance (FATF), in addition to completing the conditions for joining the Egmont Group.
He pointed out that "many specialized training courses have been held in combating money laundering and terrorist financing, combating financial crimes, penalties and bans, and employees of banking and non-banking financial institutions have been involved in them."
And he indicated that "the measures taken by the Anti-Money Laundering and Terrorist Financing Office at the Central Bank of Iraq, including:
1. Acquisition of the (go-AML) system, which is concerned with receiving reports and financial data through electronic linkage with all the parties obligated to report.
2. Preparing systems and databases For the office, which includes data and information from other parties that help analysts to complete the financial investigation procedures
3. Holding memoranda of bilateral cooperation with various parties within the anti-money laundering and terrorist financing system to facilitate the exchange of information, and concluding several memoranda of understanding with counterpart units in other countries similar to the work of the office.
4. Continuing to train employees of other sectors in ministries, government departments and the public sector for the purpose of spreading awareness of combating money laundering and terrorist financing based on the comprehensive training plan prepared by the office for this purpose, and the office continues to involve its employees in workshops and training courses offered by various organizations He explained that “these procedures resulted in an increase in the number of suspicious financial transactions received by the Office from various entities obligated
to report, which resulted in an increase in the reports submitted by the Office to the Public Prosecution Presidency to take the necessary action. Regarding it, there were (15-25-34-24-39) reports during the years (2017 and 2021) respectively, and each report included a number of reports on a number of companies and people, and this increase was reflected in the issuance of a large number of convictions by the competent courts. .
He stressed that "the increase in the transmitted reports is a result of the measures taken to encourage financial institutions to report suspicious transactions and exchange information with law enforcement agencies, which contributed to the completion of the analysis of those transactions and the identification of suspicions of money laundering and terrorist financing."
A fierce struggle between independent representatives for the position of prime minister .. Will the framework give him up in their favour?
Insinuations and statements by some leaders of the Shiite coordination framework about authorizing the Shiite independent representatives exclusively with the task of naming the prime minister among them ignited the appetite of those representatives who swallowed the bait, as one of them says, while the independent representative Mustafa Sanad confirms that the framework actually promised them the position, But he is not entirely sure he will be able to keep his promise.
At this time, the Independent Iraq Coalition confirmed that there is a commitment with the largest Shiite bloc represented in the coordination framework to nominate a prime minister by the coalition exclusively.
The head of the coalition, MP Mohsen Al-Mandalawi, said in a press interview, "The next prime minister will be a candidate for our exclusively independent bloc, and an independent figure is currently being nominated to be submitted to the coordinating framework to fill the position."
He added, "Some independent blocs, such as Tasmeem and Ishraqa Kanon, decided not to participate in the government, and to limit their work to parliamentary committees," stressing "the readiness of independent representatives to run any ministry that is agreed upon with the political forces after the increasing popular demands to appoint independent figures for service ministries."
But the independent representative, Hussein Arab, confirmed that the statement of the coordination framework after his last meeting indicated that he would ask all Shiite political forces and independent representatives of the Shiite component to nominate one person to compete for the selection of the next prime minister, indicating that the independent representatives of the Shiite component stipulated that the framework Their candidate is not testable.
Arab said, "The coordinating framework, after its last meeting, indicated that it will ask all Shiite political forces and independent representatives of the Shiite component to nominate one person to compete for the selection of the next prime minister."
He explained, "Independent MPs from the Shiite component have no problem with nominating a personality for the post of prime minister, but on one condition."
And Arabs, that “the independent representatives of the Shiite component stipulated on the framework that their candidate is not subject to testing, and on the contrary, they will not accept the invitation as a mere dropping of an imposition and only a fictitious one,” believing that “the invitation is not serious for the rest of the small forces inside or outside the framework.
The World Gold Council reveals the reserves of the Arab countries of the yellow metal
The World Gold Council published its report for the month of June 2022 of the reserves of the central banks in the world of gold, and the data showed that the reserves amounted to 35568.40 tons of the metal.
Gold is a safe haven, especially in times of crisis, as many people tend to buy it to hedge against inflation risks, and in the past years, the prices of the precious metal have risen in light of the Corona virus crisis and its consequences.
In the Arab world, Saudi Arabia leads the Arab countries in gold reserves, as the Kingdom owns 323.1 tons of the precious metal, according to a report by the World Gold Council.
In second place comes Lebanon, with reserves of 286.8 tons, and then Algeria, with reserves of 173.8 tons.
With regard to the share of gold in the international reserves of Arab countries, the data shows that Lebanon leads the Arab countries in this indicator, as the precious metal constitutes about 50.7% of the total value of its reserves, in the second place comes Egypt, and gold constitutes about 21.8% of its international reserves.
The following is a table showing the ranking of the Arab countries in gold reserves, and the share of gold in the reserves of these countries, based on the World Gold Council report for the month of June 2022:
CBI Update: Just a note:
Keep your digestive system and good mood.. Know the benefits of yogurt and dark chocolate
The fast rhythm of the day and life habits may cause some stress and anxiety, which always requires searching for ways to improve mood and calm, which is achieved through some foods.
A recent study published by the Daily Mail linked between improving bad mood and foods, pointing to Chocolate, yogurt, and salmon are foods that help improve mood, as we explain in the following lines:
Chocolate
The cocoa content in dark chocolate helps improve mood, and is more beneficial than chocolate added to milk, as dark chocolate contains high levels of flavonoids, It is a type of antioxidant.
Salmon Salmon
contains a large amount of vitamin "D" naturally, and a large percentage cause lower rates of depression and improve your mental health.
There are also other types of fish that improve mood and contain a high percentage of omega-3, such as tuna, mackerel and herring.
Yogurt Yogurt
is linked to the health of the digestive system, as it has been proven that probiotics reduce stress and anxiety, as yogurt contains a high percentage of potassium and magnesium, and helps oxygen reach the brain, which improves its ability to work.
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