FRANK26…1-21-25……..LD’S AND A VOTE

KTFA

Tuesday Night Conference Call

FRANK26…1-21-25……..LD’S AND A VOTE

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=cJo-cejd_Y0

FRANK26….1-17-25……..BANK OFFICER

KTFA

Friday Night Conference Call

FRANK26….1-17-25……..BANK OFFICER

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=fTwTNjwCkgw

The 10 most powerful currencies in the world.. Arab countries top the list

KTFA:

Clare: The 10 most powerful currencies in the world.. Arab countries top the list

1/16/2025

The strength of the currency is an important indicator of the health of the national economy, political stability, and the financial policies followed.

While many factors influence the value of currencies, sustained economic performance and institutional stability often determine a currency's standing in global markets.

Understanding these dynamics is essential for investors who trade the foreign exchange market and analyze international financial trends.

The Bankrate website monitored, in a report reviewed by Al Arabiya Business, a list of the strongest currencies in the world.

1- Kuwaiti Dinar

The Kuwaiti Dinar is currently the strongest currency in the world, with traders getting 0.31 Kuwaiti Dinars for every US Dollar.

It is worth noting that Kuwait has about 7% of the world's oil reserves, which greatly supports the value of its currency.

2- Bahraini Dinar

The Bahraini Dinar is the second strongest currency in the world, with traders getting 0.38 Bahraini Dinars for every US Dollar.

Bahrain is an oil-rich country, which contributes significantly to the strength of its currency, and the attractive investment environment enhances the stability of the Bahraini dinar.

3- Omani Rial

The Omani Rial is the third strongest currency, with traders getting 0.39 Omani Rial per US Dollar.

Oman has been producing more than 1 million barrels of oil per day since the 1960s, boosting the value of its currency.

4- Jordanian Dinar

The Jordanian Dinar is a strong currency, ranking fourth, with traders getting 0.71 Jordanian Dinars for every US Dollar.

Although Jordan does not have huge oil reserves, its diverse resources such as minerals contribute to the strength of its currency.

5- British pound

The British pound is the fifth strongest currency in the world, with traders getting 0.82 pounds to the US dollar.

Sterling's long history and economic stability, as well as London's stability as a global financial centre, are factors contributing to its strength.

6- Gibraltar pound

The Gibraltar pound is pegged to the British pound in value, with traders receiving 0.82 Gibraltar pounds to the US dollar.

This currency is strongly linked to the pound sterling, along with Gibraltar's thriving tourism and financial sector, which boosts its value.

7- Cayman Islands Dollar

The Cayman Islands dollar ranks seventh, with traders getting 0.83 Cayman dollars to the US dollar.

The Cayman Islands' favourable tax regime, which lacks direct taxes, contributes to the strength of the currency, as well as the high economic activity.

8- Swiss Franc

The Swiss franc is the eighth most powerful currency in the world, with traders getting 0.92 Swiss francs per US dollar.

The Swiss franc is known as a safe haven for investors in times of international crises, as well as the stability of Swiss monetary policy.

9- Euro

The Euro is the ninth most powerful currency in the world, with traders getting 0.98 Euros per US Dollar.

The euro is used in 20 EU countries, which strengthens its strength, along with the presence of economically strong countries such as Germany and Spain.

10- US Dollar

Despite its global dominance, the US dollar is the tenth most powerful currency.

Since the end of World War II, the dollar has become the world's premier reserve currency, allowing the United States to borrow at low interest rates.

While the Kuwaiti dinar is the strongest currency, the Swiss franc is considered one of the most stable currencies thanks to Switzerland's political neutrality, low debt-to-GDP ratio, and conservative monetary policy.   LINK

Some “Iraq News” Posted by Clare at KTFA 1-15-2025

KTFA

Clare: 21 Arab and foreign countries and 600 companies at Baghdad International Fair

1/14/2025 

The activities of the Baghdad International Fair in its (48) session will start on the first of next February, with the active participation of 21 Arab and foreign countries and 600 companies with different specializations.

The Director General of the Ministry’s Exhibitions and Commercial Services Company, Dr. Mustafa Nizar Jumaa Al-Ani, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News” that the exhibition will continue for seven days, and will be held under the slogan (Investment, Development, Prosperity).

He pointed out that the Ministry prepared early to hold the exhibition in its (48) session, as 21 Arab and foreign countries will participate in it, in addition to 600 local and international companies, indicating that the Ministry is still receiving requests to participate in this version, which is being continuously monitored by the Minister of Commerce.

He explained that the exhibition will include the two largest pavilions for the Kingdom of Saudi Arabia and Oman, as well as the golden sponsor of the exhibition, represented by the State of Qatar, in addition to preparing two large halls dedicated to national industries that witnessed a remarkable turnout by visitors during the past year.  

Al-Ani pointed out that the ministry provides support to national industries through the Export Fund, and urges local companies to develop exports and establish advanced factories that can meet local needs, especially after the government issued several decisions to support the national product by preventing the import of many materials provided by the industrial sector. 

He added that the exhibition will also witness the participation of government institutions, unions and private sector organizations, with an ambition to attract a large number of companies in the current session, in an effort to conclude contracts between the private and international sectors.

He added that the exhibition is an important economic gateway and a social oasis that attracts the public, in light of the major economic changes that the country is witnessing as part of the government program.

Al-Ani stated that the aim of holding the exhibition is to enhance cooperation between local and international companies and provide investment opportunities. It also represents a platform for communication between foreign companies and investors to exchange experiences and learn about the latest technologies in all sectors, stressing that all participating companies will display their production and will have a share in the Iraqi market and contribute to all governorates.  LINK

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Clare: Parliament postpones its session due to political blocs boycotting the sessions

1/15/2025

The House of Representatives failed, on Wednesday, once again to hold its regular session due to the boycott of most political blocs of the sessions .

A parliamentary source told Shafaq News Agency, "Parliament postponed its session due to the lack of a legal quorum due to the boycott of some political blocs and their failure to enter the council hall, despite the session bell ringing."

Recently, political circles in Iraq have witnessed a sharp escalation in disputes over a number of vital laws that are stalled within the parliament, most notably the general amnesty law, the retirement law, and others, which has led to the stumbling of many parliamentary sessions .

Yesterday, Tuesday, the media department of the Iraqi Council of Representatives published the agenda of the Council’s session that was scheduled for today .

According to the session agenda that was received by Shafaq News Agency, it included voting and reading several draft laws, most notably the Intelligence Service Law, and reading the proposed law amending the Retirement Law .  LINK

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Clare: Al-Sudani: The volume of Arab and foreign investment in Iraq reached 63 billion dollars

1/15/2025

Iraqi Prime Minister Mohammed Shia al-Sudani confirmed on Wednesday that Iraq is open to various investment and development activities, noting that the volume of Arab and foreign investments in Iraq over two years reached $63 billion.

This came during his reception, on Tuesday evening, of representatives of 24 major British companies in various sectors and activities, in addition to a number of businessmen, in the presence of British government officials, on the sidelines of his official visit to the British capital, London.

At the beginning of the meeting, the Prime Minister welcomed the work of British companies in Iraq, stressing that the investment environment and business space have become open and attractive to various types of investment and development activities.

He pointed out that the meetings and agreements signed with the British side need to be translated into actions and steps, and that the most important part now falls on the companies.

He continued: "We have carried out real reforms in Iraq, and we have put in place real support facilities and procedures for the private sector. We have also implemented reforms in the tax and customs reality, company registration, and all approvals related to investment opportunities."

Al-Sudani added, saying: “For the first time, we provided sovereign guarantees to the private sector to implement projects, and today we signed with (UKEF) what is related to this step.”

He pointed out that "the government's steps aim to create a national industrial base, and the presence of British companies with the private sector will create real opportunities," adding: "Iraq has a three-year budget (2023-2024-2025), and has allocated $100 billion for the investment budget for ministries and governorates."

Al-Sudani pointed out the existence of "associated gas projects in most fields, and opportunities in the petrochemical industry," adding: "We have a fixed platform project for importing gas funded by the government, and there is a project for liquefied gas export platforms."  LINK

Clare:  During a meeting in London BAE Systems offers to open weapons production line in Iraq, Sudani welcomes

1/15/2025

Prime Minister Mohammed Shia al-Sudani welcomed today, Wednesday, the offer submitted by BAE Systems to open weapons production lines in cooperation with the Military Industrialization Authority in Iraq, during his meeting with the company’s delegation at his residence in London.

Prime Minister Mohammed Shia Al-Sudani received today, Wednesday, at his residence in London, a delegation from BAE Systems, headed by the company's CEO, Mr. Charles Woodburn.

The meeting reviewed the nature of the company's work, which specializes in various types of military industries, in addition to its production of cybersecurity technologies and electronic systems, especially since the government is interested in arming the security forces with the latest weapons, from various sources.

During the meeting, possible aspects of cooperation with Iraq were discussed. His Excellency welcomed the offer made by the company’s CEO to open weapons production lines in cooperation with the Military Industrialization Authority in Iraq, as well as to provide services in the field of cybersecurity, especially since the Authority’s law helps establish partnerships with specialized foreign companies and expand technological cooperation with them. LINK

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Clare: Al-Sudani: I will present the British agreement to the Iraqi parliament

1/15/2025

Prime Minister Mohammed Shia al-Sudani confirmed, on Wednesday, during his meeting with a press delegation, his intention to present the British agreement to the Iraqi parliament upon his return to Baghdad .

The Prime Minister's Office stated in a statement received by Shafaq News Agency that "Al-Sudani received at his residence in the capital, London, a group of senior editors-in-chief of Arab newspapers, opinion writers, and Arab and foreign journalists."

Al-Sudani spoke, according to the statement, about "his official visit to the United Kingdom and his meetings with King Charles III and British Prime Minister Keir Starmer, and the importance and size of the security, economic and development agreements concluded during the visit," stressing that "the bilateral agreement will be presented to the House of Representatives for the purpose of ratification."

Al-Sudani pointed out, "The state of stability and prosperity that Iraq is experiencing despite the political fluctuations witnessed in the region, and the government's success in keeping Iraq out of regional conflicts, while adhering to the principled position regarding the aggression on Gaza and Lebanon."

He pointed out his political vision for the internal Iraqi situation, and his steps to maintain security and stability in Iraq and the region, stressing "Iraq's standing with the Syrian people in facing crises and challenges."

Al-Sudani also touched, according to the statement, on "the government's steps in the field of economic integration," noting "proceeding with electrical interconnection with neighboring countries, and establishing related stations, in addition to cooperation in the fields of real estate development, and building new cities, within a development renaissance planned by the government program and included strategic projects, and creating a transition in the infrastructure on which sustainable development depends."

In his speech, the Prime Minister pointed out "the signing of the contract between Iraq and British Petroleum, which is the largest in the region," stressing "Iraq's move to develop its oil industry, expand the production and export of oil derivatives, invest in Kirkuk fields, and reach full investment in associated gas."  LINK

FRANK26….1-14-25……1…2…3…BOOM

KTFA

Tuesday Night Conference Call

FRANK26….1-14-25……1…2…3…BOOM

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=2KYGnWsvX1U

Some “Iraq News” Posted by Clare at KTFA 1-12-2025

KTFA:

Clare:  Al-Sudani to pay official visit to UK tomorrow, Monday

 An informed source reported today, Sunday (January 12, 2025), that Prime Minister Mohammed Shia Al-Sudani will pay an official visit to the United Kingdom tomorrow, Monday.

The source told Baghdad Today, "Prime Minister Mohammed Shia al-Sudani will pay an official visit to Britain tomorrow, Monday."

He added that "Al-Sudani will discuss a number of important security, economic and investment files with the United Kingdom.   link

Clare:  Trump's envoy on his way to Iraq.. A new message to Al-Sudani

1/11/2025

An informed political source revealed, on Saturday evening, an upcoming visit by the envoy of the US President-elect, Donald Trump, to Iraq, carrying with him a message to Prime Minister Mohammed Shia al-Sudani.

According to the source, who spoke to Shafaq News Agency, "An American envoy is expected to arrive in Baghdad, carrying direct messages from Trump about the security of the region and Iraq's role in it."

The source explained that "the visit may be secret (not officially announced)," noting that the envoy will also discuss the details of Al-Sudani's recent visits, and Trump's vision according to the recent changes in the region.

An informed political source reported last week that the Iraqi Prime Minister received a message from US President-elect Donald Trump, via a special envoy on an unannounced visit, which included several axes .

According to the source, the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government .

Meanwhile, a government source told Shafaq News Agency that Iraq   is working diligently to establish security in the region, and that the Prime Minister presented Iraq's vision in this regard during a visit to Iran .

Al-Sudani had made numerous visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan, Saudi Arabia, and recently Iran, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States .  LINK

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Clare:  The Central Bank calls on banks to expand and expand ATM services and cash payment machines

1/12/2025 Baghdad - 

The Central Bank of Iraq called on banks, on Sunday, to expand the spread of cash delivery outlets through all available channels such as ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

Central Bank statement, as reported to 964 Network :

The Central Bank of Iraq works within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:

Click here  LINK

Clare: Central Bank of Iraq: We are working to provide ATMs in all regions

1/12/2025

The Central Bank of Iraq confirmed, on Sunday, that it is working to provide ATMs and cash payment machines, while indicating that it has directed all banks to spread their financial services in all regions.

The bank said in a statement received by Shafaq News Agency, "The Central Bank of Iraq is working within its strategy to provide various services to bank card holders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices , as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

He added that "the Central Bank confirmed in its circulars that it directed banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He pointed out that "the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously."  LINK

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Clare:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

 1/12/2025  Information/Baghdad…

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, "The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers."

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that "currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country," noting that "most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion."  LINK

FRANK26….1-10-25…….THE NEXT STEP

Friday Night Conference Call

FRANK26….1-10-25…….THE NEXT STEP

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=rcUCipIB6Mg

FRANK26….1-7-25…..TRANSFERS NOT AUCTIONS

KTFA

Tuesday Night Conference Call

FRANK26….1-7-25…..TRANSFERS NOT AUCTIONS

This video is in Frank’s and his team’s opinion only

Frank has stated he will no longer do public videos on the Iraqi dinar UNLESS it is Important, Prudent or Necessary.  

Frank’s team is Walkingstick, Eddie in Iraq and guests

Playback Number: 605-313-5163   PIN: 156996#

What Frank’s suit color’s mean…. FRANKS SUIT COLORS FOR CC'S..... WHITE = NEW INFO…. SILVER = INTEL FROZEN…. RED= HIGH ALERT… PURPLE=GUEST WITH US…. BLUE = AIR FORCE…. BLACK = GROUND/FF’S…. GREEN= MR OR FAB 4 ... GOLD = CHANGE

https://www.youtube.com/watch?v=IX3zBlthPag

KTFA Members “Auctions or No Auctions?” and more 1-5-2024

KTFA:

Kimberly:  Imo question so confused have the cbi auctions stopped? Or is the cbi running on a different system? Not understanding what is going on

Harlequin3:  IMO- Yes, the auctions have stopped. There is a currency window (the auctions) that was started in 2003. That window is closed. In those auctions the CBI directly sold dollars for dinars to the local banks INSIDE Iraq only -- basically, they traded money back and forth to each other, and that is how the CBI controlled the rate (what is called a programmed rate.)

The ForEx we watch only reflects those internal auctions because the dinar is not internationally tradable. This is what makes the ForEx curve look like castle walls, up, sideways, down, up, sideways, down, instead of a floating line like a heartbeat.

Harlequin3 cont……..The problem is, this is how the Iranian-backed banks would get USD and launder it through their fronts (money exchangers on the street) and it would get funneled into Iran. These auctions were supposed to only be a temporary thing for a couple years, but the crooks enjoyed skimming and laundering the dollars.

 In 2023, America said enough's enough. On Dec 30 the official announcement came to stop these currency auctions, on Dec 31 the final auction stopped. Now in Jan 2024, these metamorphosized (Frank's term) from out and out cash sales -- here's a dollar on the table for sale for real IQD on the table -- and switched to mostly an electronic platform (that's Saleh's 95% thing)

On Jan 1, the auctions stopped and became foreign reinforcements -- the CBI has nothing to do with this other than monitor and approve the transactions (with the UST, Ernst & Young, and K2 auditing the transaction BEFORE it happens, and ensures it goes where it's supposed to go -- not Iran -- and when it arrives.)

The CBI is NOT selling money to the banks anymore -- the banks MUST go get their money from OTHER banks outside the country (currency swaps, which is the essence of ForEx.)

So Bank A in Iraq is connected to Bank B in England, let's say, and they need foreign currency to cover their deposits, they request XYZ euros from Bank B -- for XYZ dinar at 1310 -- the money is ELECTRONICALLY wired back and forth.

There is a basket of currencies the banks can choose from: Euros, Yuan, Dirhams, Rubles, Jordanian Dinar, etc., etc. All the CBI is doing is watching this now, making sure it's legit.

On Jan 2, notice 7 banks in Iraq said, hey we need foreign currency! And 283m dinars' worth of that foreign currency electronically changed hands. No auction. This is how all banks all over the world operate. International standards.

It's audited on both ends, the request, and the completion. Today's exchange, had 279m dinar in the exact same fashion -- EXCEPT USD ARE allowed to be purchased (not in auction from CBI but from their international counterparts) from 5 (I think it's upped to 7 now) banks currently -- this dollar cash is permitted in Iraq for 3 purposes only: travelers request USD because they are traveling to the USA. They can't physically have the dollars until they've gone through airport security with their ticket, and they pick it up as they board the plane.

Second, the GOI IS allowed to use dollars for financing government approved projects -- audited by E&Y. (Building a bridge with an American company that requires American dollars, something like that.)

Or third, major medical procedures for citizens that require dollars -- that money is audited as it goes to the hospital for the procedure only.

Those are the only three legal uses for the dollar in Iraq. (Parliament wants a fourth for buying cars, so far Sudani says no, because that would be easy to launder.)

 This is effectively drying up dollars on the streets -- Parliament (who skims it) says, whoa, that will raise the demand for the dollar in the black market and the exchange rate will skyrocket -- Saleh/Alaq say no, this is a temporary inflationary bubble that is NOT real -- there IS no black market, you are pirates operating illegally with illegal currency -- there is only ONE currency in Iraq, the dinar, and it has an official rate of 1320 -- anything other than this is against the law.

Saleh says "this bubble" will burst -- which is why we're hoping to see a new rate by then, one higher than the dollar -- because then the citizens won't be looking for dollars illegally -- they'll have strong local national currency.

Without the auctions -- there is NOTHING manipulating and propping up the 1320 rate -- so.... what are they going to do? Raise the value.

 Eventually, the dinar will float in this basket, and ForEx will look like a heartbeat. But all that goes to say the auctions HAVE stopped. What you are seeing is "foreign currency reinforcements" not an auction -- the CBI has NOTHING to do with this money, it's between the two correspondent banks, and CBI is only auditing the transaction.

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Clare:  Economist: New steps by the Central Bank regarding dollar transactions

1/5/2025

Information / Baghdad..

Economic expert Safwan Qusay revealed today, Sunday, that there are new steps by the Central Bank to enhance transparency and global openness.

Qusay said in a statement to Al-Maalouma Agency that “the Central Bank of Iraq and the US Federal Reserve are moving towards authorizing Iraqi banks to contract with international auditing companies, instead of relying on the dollar selling platform alone, with the aim of auditing credits and transfers before implementing them.”

He explained that "this measure is in the interest of the Central Bank, as it contributes to avoiding the risks of money laundering cases and international sanctions," noting that "this step is a turning point that contributes to drawing a clear map for the work of Iraqi banks on the global stage, as they will deal with international correspondents and financial guarantees in addition to instant transfers, which enhances their position in global markets.”

He pointed out that "it is possible to rehabilitate banks facing current restrictions, which will lead to greater stability in the exchange rate," indicating that "the Central Bank attaches special importance in the next stage to increasing foreign currency reserves, which contributes to facilitating trade operations and supporting economic activity.”  LINK

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Clare:  Al-Sudani: The Development Road Project will enhance Iraq's power in the region

1/5/2025   Baghdad

Prime Minister Mohammed Shia al-Sudani confirmed today, Sunday, that the development road project will enhance Iraq's strength in the region, politically and economically.

During his reception of the Director of the Iraqi Institute for Dialogue, Abbas Radhi Al-Amiri, according to a statement from his office received by "Al-Eqtisad News", Al-Sudani was briefed on the work of the organizing committee for the Seventh Baghdad International Dialogue, whose activities will start on February 22-23, 2025 under the slogan "The Path to Iraqi Development... Alliance of Interests and Geopolitical Stakes", noting that choosing this topic falls within the great Iraqi interest in the project, which gives the country a pivotal role in the regional system as an important point of communication between the East and the West.

According to the statement, Al-Sudani expressed his "sponsorship of this annual international gathering hosted by the capital, Baghdad, which hosts an elite group of the most important decision-makers in the region and the world."  LINK

Clare:  Retrospectively.. Details of an agreement between Baghdad and Erbil to resume the region’s oil exports revealed

1/4/2025  Special

The Parliamentary Oil and Energy Committee revealed, on Saturday, the details of an agreement between Baghdad and Erbil to resume exporting oil extracted from the fields of the Kurdistan Region of Iraq.

Committee member Nahro Mahmoud said in an interview with Al-Rabia, "There was an agreement between the government delegation in the federal government and the Kurdistan Regional Government of Iraq," indicating that "the main dispute was over the cost of extracting and transporting the oil produced in the region and then exporting it."

He added, "The agreement stipulates amending the three-year budget law and allocating $16 as a temporary cost until one of the international consulting companies in this field is hired and given a period of 60 days."  LINK

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Clare:  Al-Sudani receives a "special" message from Trump: Syria, Iran and the factions

1/4/2025

An informed political source reported on Saturday that the Iraqi Prime Minister received a message from US President-elect Donald Trump.

The source told Shafaq News Agency that Al-Sudani received a message from Donald Trump through a special envoy on an unannounced visit, which included several axes.

The source pointed out that the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran, in addition to Iraq not interfering in the Syrian file and supporting the formation of the new Syrian government.

Meanwhile, a government source told Shafaq News Agency that Iraq is working diligently to establish security in the region, and that the Prime Minister will present Iraq's vision in this regard during a visit to Iran.

On December 30, an informed source revealed that Prime Minister Mohammed Shia al-Sudani will begin a visit to Iran at the end of next week to discuss developments in the region.

The source told Shafaq News Agency that Al-Sudani will discuss several files with Iranian leaders, most notably the recent developments in Syria.

Al-Sudani had made several visits to countries in the region after the fall of Bashar al-Assad's regime, including Jordan and Saudi Arabia, where he discussed security issues with the leaders of these countries. Iraq also participated in the Aqaba Conference held in Jordan, with the participation of several countries, including the United States.

Iranian President Masoud Pezeshkian visited Iraq on September 11, and made a three-day tour that included Baghdad, Erbil, Sulaymaniyah, Najaf, Karbala and Basra.

On May 22, Al-Sudani also visited Tehran to participate in the funeral of Iranian President Ebrahim Raisi, who was killed in a plane crash.  LINK

Some “Iraq News” Posted by Clare at KTFA 1-4-2024

KTFA:

Clare:  New holiday for all Iraqis

1/3/2025

Sumerian News - Local
witnesses next week vacation Official next Monday on the occasion of memory establishment Army Iraqi Al-Basel, according to the Official Holidays Law No. 12 of 2024.

It will be on Monday, January 6th. vacation Official for all Iraqis On the occasion of the 104th anniversary of the founding of Army Iraqi The brave.   LINK

Clare:  Al-Sudani stresses the importance of raising the level of quality control to preserve public money

1/4/2025  Baghdad

Prime Minister Mohammed Shia Al-Sudani stressed today, Saturday, the necessity of working to address the observations and raise the level of quality of oversight; in order to preserve public money.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani received the head of the Financial Supervision Bureau, Ammar Sobhi Khalaf, and the meeting witnessed discussions on the contents of the Bureau's reports on the performance of the various state agencies, and ways to enhance them."

 Al-Sudani stressed the "necessity of working to address the comments and raise the level of quality of oversight, in order to preserve public money."

During the meeting, the Audit Bureau’s reports were reviewed, particularly reports related to the performance of ministries and entities not affiliated with a ministry.  LINK

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Clare:  The Iraqi government succeeds in recovering 50 billion dinars from the corrupt during 2024

1/4/2025  Baghdad

The Parliamentary Integrity Committee confirmed, today, Saturday, that the government succeeded in recovering 50 billion dinars from the corrupt during the past year, while indicating that Prime Minister Mohammed Shia Al-Sudani played a prominent role in reducing corruption files.

Committee member MP Alia Nassif said: "Al-Sudani and the Integrity Commission had an effective impact in reducing the aggravation of these files and prosecuting those involved in them," noting that "the government also succeeded in recovering about 50 billion dinars from those involved in corruption files in the Deal of the Century, in addition to the Director General of Refineries and the Assistant Director of Investment during the year 2024."

Nassif pointed out that "the anti-corruption operations also included pursuing those involved in real estate fraud files," noting that "most ministries and governorates formed sub-committees to stop the waste of public money."  LINK

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Clare:  "Oil and Gas Law" resolves pending issues between Baghdad and Erbil

1/4/2025

Oil and Gas Committee in the Iraqi Parliament considered, on Saturday, that the agreement on the draft "Oil and Gas Law" and sending it from the government to the parliament will contribute to resolving many of the pending issues between Baghdad and Erbil.

Committee member Bassem Al-Gharibawi told Shafak News Agency, "Agreeing on the draft oil and gas law and approving it in the Council of Ministers and then sending it to Parliament will contribute to resolving many of the outstanding problems between the federal and regional governments."

According to Al-Gharibawi, the government had previously formed a committee headed by the Deputy Prime Minister for Energy Affairs, the Deputy Prime Minister for Economic Affairs, and the Iraqi SOMO Company to negotiate with the regional government regarding amending the disputed articles and preparing a final version of the oil and gas law.

He added, "The Parliamentary Oil Committee hosted a number of officials from the Ministry of Oil during the previous legislative session, and discussed the formulas and articles that require amendment to the Oil and Gas Law."

Last week, Iraqi economic expert, Nabil Al-Marsoumi, revealed that 9 foreign companies were demanding compensation amounting to 24 billion dollars resulting from the halt in oil exports after the Iraqi judiciary rejected the appeal of the Iraqi Ministry of Oil to cancel these companies’ contracts with the Kurdistan Region.

The Karkh Court of Appeal rejected an appeal submitted by the Iraqi Ministry of Oil and overturned previous rulings that declared the contracts of foreign companies with the Kurdistan Region invalid .

According to the court, contracts are considered “valid,” enforceable, and binding on both parties, and no party outside the contract has the right to object to them, even if they are based on a legal basis that the Federal Supreme Court in Iraq deemed unconstitutional in February 2022 .

The court explained in the reasons on which it relied that the decision of the Federal Supreme Court issued in February 2022 cannot be applied to contracts concluded before its issuance, in accordance with a general principle in Iraqi civil law.  LINK

Clare:  Iraq surpasses Saudi Arabia in oil exports to America

1/4/2025

The US Energy Information Administration announced on Saturday that Iraq surpassed Saudi Arabia in oil exports to the United States during the past week.

The administration stated in a table seen by Shafaq News Agency, that "the average US imports of crude oil during the past week from 9 major countries amounted to 5.765 million barrels per day, down by 79 thousand barrels per day from the previous week, which amounted to 5.844 million barrels per day."

She added that "Iraq's oil exports to America reached 212 thousand barrels per day last week, down by 17 thousand barrels per day from the previous week, which reached 229 thousand barrels per day, thus exceeding Saudi Arabia, whose exports to America reached only 87 thousand barrels."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.733 million barrels per day, followed by Mexico at an average of 551 thousand barrels per day, then Venezuela at an average of 353 thousand barrels per day, and Colombia at an average of 289 thousand barrels per day."

According to the table, "the amount of US imports of crude oil from Brazil amounted to 280 thousand barrels per day, from Libya it was at a rate of 189 thousand barrels per day, and from Nigeria at a rate of 71 thousand barrels per day.   LINK

“News and Views” From KTFA Members 1-3-2024

KTFA:

Clare:  Mr. Al-Hakim: We will not allow anyone who wants to bring back the days of conflict, and Iraq today is stronger with its forces and its mobilization.

1/3/2025

The head of the National State Forces Alliance, Mr. Ammar Al Hakim, confirmed his rejection of attempts to return Iraq to “disagreement and conflict.”

In his speech at the mass gathering in Najaf on the anniversary of the martyrdom of the Martyr of the Mihrab, Grand Ayatollah Sayyid Muhammad Baqir al-Hakim {may his secret be sanctified}, Mr. Al-Hakim said: “There will be no compromise on the security and stability of our country, and we will not allow anyone who wants to return the scene to the days of disagreement and conflict and to play on the feelings and unity of the Iraqis.

Iraq today is stronger with its men, government, leaders, army, federal police, crowd, Peshmerga, and all branches of our armed forces, which are rising with the arms of its zealous sons.”   LINK

Clare:  In support of Mr. Al-Hakim’s proposal.. Advisor to Al-Sudani: Iraq strengthens its sustainable economic partnerships

1/3/2025

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, announced that the current Iraqi government seeks to strengthen sustainable economic partnerships with major countries.

Saleh told {Euphrates News}: "Iraq has left behind the legacy of isolation and regional and international conflicts since 2003, and our country is currently experiencing a very high level of stability with the international economic community and building economic relations that achieve common interests, led by openness to an international strategic investment environment based on the path of development, which is led by central infrastructure in improving transportation, energy and port networks."

He added, "In addition to establishing free industrial and economic zones to attract real foreign direct investment with high added value." 

Saleh continued, "Also, continuing the strength of traditional trade tributaries, especially in crude oil trade and traditional trade, will remain important factors in building our country's interests with the world, by dealing with Iraq's international partners, led by major friendly countries, namely India, Turkey, China, Korea, the United States, Japan, and sister and friendly countries such as the Emirates, Saudi Arabia, Iran and the rest of the neighboring countries."

The head of the National State Forces Alliance, Mr. Ammar al-Hakim, stressed during his speech at the mass gathering in Najaf on the anniversary of the martyrdom of the Martyr of the Mihrab, Grand Ayatollah Sayyid Muhammad Baqir al-Hakim {may his secret be sanctified} that combating corruption, establishing security, and building a balanced economy are our gateway to building a strong state, while calling for striving through Iraq to establish long-term economic ties and common interests that our peoples and the peoples of our Arab and Islamic region enjoy.

Mr. Ammar al-Hakim also stressed the importance of focusing on reconstruction projects, economic development, and increasing investments in the country. Raghad LINK

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Clare:  Iraqi Central Bank Streamlines International Transfers

2nd January 2025   By John Lee.

The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks.

According to a CBI statement, this milestone, fully achieved at the end of December, aligns with global best practices, promoting a stable and secure financial system.

Key highlights include:

Modernisation Journey: Transfers evolved from a currency sale window to an electronic platform and now to correspondent banking systems.

Diverse Currency Support: Iraqi banks can now enhance balances with correspondent banks using various currencies, including USD, INR, CNY, EUR, AED, SAR, and JOD.

Global Integration: The system improves efficiency and aligns Iraq's financial operations with international standards, boosting regional and global financial relationships.

Investment and Trust: This achievement strengthens Iraq's appeal for investment and enhances international financial confidence.

The CBI attributed this progress to extensive technical planning, governmental support, and the contributions of its staff, Iraqi banking institutions, and international partners.

The bank reaffirmed its commitment to fostering good governance, compliance, and anti-money laundering measures, further solidifying Iraq's financial system.

(Source: CBI)   LINK

Clare:  Government Advisor: Monetary Stabilization Mechanism Will Maintain Financial Stability in the Country

1/3/2025  Baghdad - WAA - Amina Al-Salami, 

the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Friday, that the Central Bank has adopted the monetary reinforcement mechanism to feed the national banks' requests for foreign currency, indicating that the monetary reinforcement mechanism will maintain financial stability in the country.

Saleh told the Iraqi News Agency (INA) that "the function of the Central Bank will continue to move in two directions: the first is to meet the needs of national banks for foreign currency with their correspondents, which confirms that the new monetary reinforcement mechanism will work to provide monetary stability on the part of the monetary authority in the two issues of continuing the monetary sterilization policy that is concerned with controlling the levels of local liquidity by exchanging foreign currency for the dinar"

Noting that "the new monetary reinforcement mechanism will maintain a fixed exchange rate of 1,320 dinars for every dollar, which will enable the Central Bank to achieve stability in the external value of the Iraqi dinar by controlling the growth in the money supply within the operational objectives of monetary policy through what is called the monetary transmission mechanism to achieve intermediate or real long-term goals in achieving stability in the general price level or reducing growth in inflation rates, and this comes in conjunction with the stability of the exchange rate and the growth of the money supply to achieve stability in the general price level."

Saleh added that "the second trend is to provide foreign currency to correspondents of national banks in order to facilitate the stability of the real supply of basic goods and services flowing into the domestic market with high fluidity, and to make compliance control of foreign currency transactions on two levels: national through the Anti-Money Laundering and Terrorist Funds Office, and external through the role of correspondent banks that undertake the task of auditing compliance issues."  LINK

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David:  the new monetary reinforcement mechanism will maintain a fixed exchange rate of 1,320 dinars for every dollar.   I’m not sure that’s the news we wanted to hear. 

BLKFish:  How's that possible with them issuing lower notes?

BMS32:  IMO They may be saying the 1320 rate sort of how Kuwait said they weren't going to do anything any time soon with their currency and then ended up changing their rate. I have been seeking the bad news that would be similar to Kuwait and this seems pretty similar to that! Bring on the bad news! Remember, IMO, Sudani said they would have the strongest currency (or something along those lines) - 1320 is weak sauce..

Clare:  SALEH IS TALKING ABOUT THE RATE RIGHT NOW AND HE IS NOT THE ONE THAT WILL ANNOUNCE THE NEW RATE. IMO