Baghdad Today, Thursday, the Director General of the International Monetary Fund welcomed Iraq’s accession to a ""non-financing program to support economic reforms"", during her meeting with Prime Minister Muhammad Shiaa Al-Sudani in Davos. The Prime Minister's Media Office stated, in a statement received by Al-News, that "Sudan met with the Director General of the International Monetary Fund, Kristalina Georgieva, on the sidelines of its participation in the Davos Economic Forum held in Switzerland." During the meeting, “financial cooperation relations between Iraq and the International Monetary Fund were discussed, within the framework of supporting the development path in Iraq.” Al-Sudani pointed to "the government's plans in the field of economic and financial reform, as a gateway and basis for all the reforms that the government plans in all vital sectors." Georgieva welcomed "Iraq's joining a non-financing program to support economic reforms, as meetings with the Fund will begin next month to implement this program." She also praised "the steps taken by the government in the field of the financial and banking system, and improving the business and investment environment," expressing its "understanding of Iraq's specificity and the challenges it faces." ----------------------------------------------------------------------------------------------------- After decades of invlovement between Iraq and the IMF, the specificity of many things are likely to be known by the IMF, exchange rate regimes be sure. For Iraq to be moving forward with all reforms that the governement has laid out, and that the IMF is aware of and supports it all, especially in that there is no financing needed should be eye opening for everyone. How does non-financing work with the IQD at 1,310 IQD to 1 USD for to pay for projects and comodities? It has not ever while with an IQD exchange rate of $.0006 or even $.0007 to the dollar. So why would it be any different now? It clearly wouldn't. Lets think about what the Foriegn Minister of Iraq told us early this week. Did he not tell us that before he left to Davos that there was an apparent agreement with the Kurds to export oil again out of Kurdistan? He did on Monday this week! That was on the 15th. Let that sink in. What did we see the Central Bank mention about populating more banks with cash to be ready for a deadline of 02/15/2024. Contracts tend to have agreements in 30 day increments for payments for both the buy and sell side of trades. So what would restore confidence after 8 years of waiting? Restoring confidence is the action of changing the exchange rate of Iraq would imo. Will the agreement made between the Kurds and Baghdad that Faud Hussein mentions be known as the day that the oil agreements could take place and be activated with a 30 day future payment date? So will the banks have the necsessary money to complete the transactions for trade from banks to correspondent banks? Between now and then we are likely to find out. We will just see how confidential those meetings in Davos are or were. Trades in the IQD/USD will not be long quiet if not already having been exposed from recent trading this week outside of 1310. We shall see. The global buzz out of Davos is buzzing!! Al-Sudani is home now.. So let these Ideas and correlations resonate and look at the verbage from 2016 from Al -Nusairi and Al-Alaq. It was about restoring confidence. Fast forward to Davos. "Restoring Confidence" forum. This is powerful data brought in by Militia Man & Crew that can be found in the our Patreon Forum and their DISCORD chat room.. Check it all out, you may be very surprised at the depth and value in it... ~ MM ------------------------------------------------------------------------------------------------------ 01/17/2024 Wednesday: Press/NEWS Today, Wednesday, ""Foreign Minister Fuad Hussein revealed the conclusion of a new agreement between Baghdad and Erbil to resume the export of Kurdistan region oil."" Hussein confirmed during his participation in the Davos Global Forum in Switzerland, “The matter was related to the Iraqi government and the Kurdistan Regional Government, but ""two days ago"" (01/15/2024) the two sides signed an agreement on how to deal with the oil problem .” ------------------------------------------------------------------------------------------------------- Snippet: "STRATEGY TO ENHANCE CONFIDENCE IN THE BANKING SECTOR" by Samir Al-Nusairi Fifth - Increase the ""capital of banks"" on the new date of ""February 15, 2024"", which is the deadline specified for the increase. -------------------------------------------------------------------------------------------------------------
- "STRATEGY TO ENHANCE CONFIDENCE IN THE BANKING SECTOR" by Samir Al-Nusairi On 6/23/2016, the Iraqi Banking Conference was held in Beirut under the title (Restoring Confidence in the Iraqi Banking Sector), in the presence of the Governor of the Central Bank at the time, Mr. Ali Mohsen Al-Alaq, and representatives of Iraqi private banks and branches of Arab banks in Iraq. The number of all private Iraqi banks was not more than 30 banks, and they were the savings rate in the banking system was 23%, the hoarding rate among citizens was 77%, and the financial inclusion rate was 11%. The reasons for this were attributed to the economic, financial and security challenges and shocks, the intertwining of policies, and the lack of clarity of vision in making decisions for financial reform despite all previous successive governments making efforts to do so, direction, but the desired reform was not achieved. .....
- [7:34 AM]After 8 years, the Governor of the Central Bank announced at the regular meeting of banking leaders two days ago that the Central Bank will adopt a special strategy to enhance confidence in the banking sector, accompanied by strategies and plans that will be implemented in 2024 in the footsteps of financial and banking reform, which will be carried out with support and joint cooperation with the government and with the support of Mr. President, The Council of Ministers, where the map of expansion in the number of banks changed and became 72 banks, and the financial inclusion rate exceeded 33.5%, and the number of bank accounts opened and operating in banks is more than 10 million accounts, and the number of credit cards issued and in force is approximately 18 million cards, and the digital transformation in the banking sector is moving in the direction accelerating the adoption of modern banking technologies and comprehensive systems, in addition to establishing the Iraqi Deposit Insurance Company. ...... (edited)
- [7:34 AM]Therefore, the deposits, which guarantee customers’ deposits at that bank, prevent it from performing its obligations towards them in accordance with the new amendment to its internal regulations. However, mistrust is still prevalent within the culture of citizens, with their reluctance to deal with banks, and we believe that the reason that led to this is the faltering banks, the methods of some banks in dealing with customers, complex routine procedures, and some banks’ circumvention of the Central Bank’s instructions, which outline mechanisms for transparent and proper dealing with citizens. Therefore, the new strategy to enhance confidence, as explained by the Governor on 1/11/2024, will depend on the following:
- First - Improving the level of banking services and products provided to customers.
- Second: The availability of the bank’s financial solvency and its ability to meet customers’ requests at the time of request without delay.
- Third: The bank’s control and direct supervision focus on measuring the level of service provided by banks to customers.
- Fourth - It provides external (international) confidence in the bank through its ability to adhere to international standards and obtain confidence from correspondent banks.
- Fifth - ""Increase the capital of banks"" on the new date of ""February 15, 2024"", which is the deadline specified for the increase.
------------------------------------------------------------------------------------------------------- Sudanese participates in the World Economic Forum in Davos, Switzerland 5 days ago 2024-01-13 08:21 This year’s edition of Davos carries the slogan “Restoring Confidence,” and will focus on the conflict in the Gaza Strip, along with issues of global concern, such as climate and artificial intelligence. | | | |
Today at 8:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Today at 8:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Today at 8:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Today at 8:10 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:34 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:32 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Today at 6:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Today at 6:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Today at 6:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Today at 6:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Today at 6:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Today at 6:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Today at 6:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Today at 6:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Today at 6:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Today at 6:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Today at 6:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Today at 6:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Today at 5:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Today at 5:57 am by Rocky
» Pictures: New licenses in Iraq to extract “huge” quantities of oil and gas
Today at 5:56 am by Rocky
» Transport reopens the Baghdad - Samarra railway line
Today at 5:55 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 5:54 am by Rocky
» Oil clarifies the mechanism for investing grant funds and licensing contracts
Today at 5:51 am by Rocky
» A $700 million agreement is signed between Iraq and Italy to finance these projects
Today at 5:50 am by Rocky
» Iraq recovers 90 billion dinars from social protection violators
Today at 5:49 am by Rocky
» Sudanese officially launches the two licensing rounds and sets the date for stopping gas burning
Today at 5:48 am by Rocky
» An economic vision for the standard of competition for exploratory plots in Iraq
Today at 5:47 am by Rocky
» The Iraqi Islamic Bank announces an increase in its capital to 300 billion dinars
Today at 5:46 am by Rocky
» A communication from the Ministry of Health to the Ministry of Interior in Kurdistan regarding “herb
Today at 5:44 am by Rocky
» Popular agreement to end the “cancer towers” crisis in the oldest villages of Diyala.. Document
Today at 5:42 am by Rocky
» What is the reason for OPEC's decision to stop publishing its estimates of the volume of global dema
Today at 5:41 am by Rocky
» It includes 29 projects in 12 governorates.. Launching the fifth supplementary licensing round and t
Today at 5:40 am by Rocky
» Among them are 8 Chinese companies...an economic view of the criteria for competition over explorato
Today at 5:38 am by Rocky
» Sudanese: Gas burning will stop within 3-5 years
Today at 5:38 am by Rocky
» With the extension of its legislative term.. Will the Iraqi parliament succeed in resolving the budg
Today at 5:36 am by Rocky
» Al-Sudani's angry message to Guterres: We do not need UNAMI.. Describe your belongings and leave
Today at 5:35 am by Rocky
» As a result of corruption charges... Parliamentary signatures were collected to dismiss the director
Today at 5:33 am by Rocky
» 13 countries are competing for 29 fields, and Anbar and Muthanna have the lion’s share... Details of
Today at 5:30 am by Rocky
» Ending the international coalition’s mission...negotiations may take more time
Today at 5:29 am by Rocky
» Oil reveals a mechanism to support services and establish infrastructure projects in the producing g
Today at 5:27 am by Rocky
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
Today at 5:26 am by Rocky
» The New Generation Movement files a lawsuit to dissolve the regional government: It is unable to mak
Today at 5:24 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Today at 5:23 am by Rocky
» Al-Rafidain: Loans for purchasing residential units start from 5 to 150 million
Today at 5:21 am by Rocky
» Iraq launches a new licensing round to develop oil and gas fields
Today at 5:20 am by Rocky
» Signing an agreement between Iraq and Italy to finance industrial projects worth $700 million
Today at 5:19 am by Rocky
» Minister of Oil: Soon we will announce the increase in Iraq’s oil reserves to 160 billion barrels
Today at 5:18 am by Rocky
» The Chinese company ZPEC wins the investment in the East Baghdad field - the northern extensions
Today at 5:17 am by Rocky
» utube 5/9/24 Iraqi Dinar | Ali Alaq Announced New Rate Finally Showing New Rate On Tv Screen | Din
Yesterday at 5:55 pm by Rocky
» A leader in the National Bank: We are committed to the federal decision and to postpone the election
Yesterday at 10:28 am by Rocky
» Al-Hakim: Iraq's future cannot be mortgaged to volatile oil prices
Yesterday at 10:24 am by Rocky
» The conflict of the corridors: the path to development from a historical perspective and the door to
Yesterday at 10:22 am by Rocky
» The Kurdistan Region demands that the federal government spend 1.1 billion dinars.. What is the reas
Yesterday at 10:21 am by Rocky
» Tomorrow, Iraq is preparing to launch a complementary round of gas licensing
Yesterday at 10:19 am by Rocky
» A government move to restore the funds of the Trade Bank of Iraq
Yesterday at 10:17 am by Rocky
» The Central Bank informs France of plans to restructure the banking sector
Yesterday at 10:15 am by Rocky
» A government advisor reveals the fate of the budget tables
Yesterday at 10:13 am by Rocky
» Iranian mediation between Baghdad and Erbil... Revealing the most prominent files of Raisi’s visit t
Yesterday at 10:10 am by Rocky
» Reconstruction and development is a priority.. A parliamentary committee follows up and monitors gov
Yesterday at 10:08 am by Rocky
» Al-Hakim comments on the agreements concluded with Türkiye and confirms: Iraq is on the right path
Yesterday at 10:06 am by Rocky
» Tomorrow... Iraq takes a step that will give it gas equivalent to 200% of imported Iranian gas
Yesterday at 10:04 am by Rocky
» A long and disturbing message.. The Iraqi government “blames” the United Nations because of “other p
Yesterday at 10:00 am by Rocky
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
Yesterday at 6:18 am by Rocky
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
Yesterday at 6:16 am by Rocky
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
Yesterday at 6:13 am by Rocky
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
Yesterday at 6:12 am by Rocky
» Economist: The fluctuation of the dollar is “the balance of speculators”
Yesterday at 6:10 am by Rocky
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
Yesterday at 6:08 am by Rocky
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
Yesterday at 6:05 am by Rocky
» A call to the Sudanese to remove American forces from Iraq
Yesterday at 6:03 am by Rocky
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
Yesterday at 6:02 am by Rocky
» The government is silent...the reality of removing American forces from Iraq
Yesterday at 6:01 am by Rocky
» The radiation protection law in the first session of the next legislative term
Yesterday at 6:00 am by Rocky
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
Yesterday at 5:59 am by Rocky
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
Yesterday at 5:58 am by Rocky
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
Yesterday at 5:56 am by Rocky
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
Yesterday at 5:55 am by Rocky
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
Yesterday at 5:53 am by Rocky
» The European Union and Iraq agree to increase cooperation between them
Yesterday at 5:52 am by Rocky
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
Yesterday at 5:50 am by Rocky
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
Yesterday at 5:48 am by Rocky
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
Yesterday at 5:47 am by Rocky
» Highlights of the Prime Minister's visit to Babylon
Yesterday at 5:46 am by Rocky
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
Yesterday at 5:44 am by Rocky
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
Yesterday at 5:42 am by Rocky
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
Yesterday at 5:41 am by Rocky
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
Yesterday at 5:38 am by Rocky
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
Yesterday at 5:37 am by Rocky
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
Yesterday at 5:36 am by Rocky
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
Yesterday at 5:34 am by Rocky
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
Yesterday at 5:33 am by Rocky
» It revealed the details of its contract with four companies to complete the census requirements... P
Yesterday at 5:31 am by Rocky
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
Yesterday at 5:30 am by Rocky
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
Yesterday at 5:28 am by Rocky
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
Yesterday at 5:27 am by Rocky
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
Yesterday at 5:25 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Yesterday at 5:24 am by Rocky
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
Yesterday at 5:23 am by Rocky