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Thursday, October 19, 2017

IQD CHAT, 19 OCT

xyz: The economic and banking adviser Samir al-Nusairi: adoption of international standard standards ... and re-evaluation ...

https://translate.google.com/translate?tl=en&u=http://economy-news.net/content.php%3Fid%3D9454

xyz: Nusseiri: The UN Security Council praises the actions of the Central Bank in supporting and implementing the program of economic and financial reform

https://translate.google.com/translate?tl=en&u=http://economy-news.net/content.php%3Fid%3D9454
 ...
MichelleL: @xyz thank you

xyz: "The US banks now have greater confidence in the Iraqi banks, especially after the positive steps taken by the Central Bank of Iraq to combat money laundering and punish violators,"

https://translate.google.com/translate?u=http://economy-news.net/content.php%3Fid%3D9456

chattels: Dave asked about the status of the election law amendment in Parliament. I posted yesterday that there is no resolution on Tuesday, Parliament was unable to obtain a quorum yesterday and now adjourned indefinitely if memory serves. I will look when I get home.

chattels: It might have been a Wednesday / Thursday event(s). When I get up early sometimes I get my days confused.

chattels: There is some possibility that the Sadrist may be boycotting the election law amendment now.

chattels: Paul Iddon : Iraqi Kurdistan in disarray after the loss of Kirkuk

https://www.alaraby.co.uk/english/indepth/2017/10/19/iraqi-kurdistan-in-disarray-after-the-loss-of-kirkuk

xyz: @chattels krg or Baghdad parliament?

chattels: Thursday, October 19, 2017 Inside Iraq’s Oil Sector Interview With Gary Vogler http://musingsoniraq.blogspot.com/2017/10/inside-iraqs-oil-sector-interview-with.html

chattels: @xyz GOI. KRG has not reconvened at all since the Kirkuk fiasco.

chattels: @xyz KRG elections scheduled for November 1st have been postponed.

xyz: ty

xyz: Oil: The federal government is constitutionally responsible for concluding contracts and agreements

https://translate.google.com/translate?u=http://www.alforat.info/index.php%3Fpage%3Darticle%26id%3D51412

The Ministry of Oil confirmed that the federal government is legally and constitutionally responsible for the conclusion of contracts and agreements related to the development and investment of oil and gas wealth, stressing the non-conclusion of foreign countries and companies contracts within the geographical boundaries of the country without the knowledge of the government in Baghdad.

Oil Minister Jabbar al-Allaibi said in a press statement that the irresponsible statements made by some officials inside and outside Iraq or by foreign companies about their intention to contract or conclude oil contracts with one or the other within the geographical boundaries of the country without the knowledge of the federal government or the Ministry of Oil, Is a blatant interference in Iraq's internal affairs and a violation of national sovereignty and a clear violation of international norms.

Adding that the federal government and the federal oil ministry are the only two parties that have the constitutional and legal powers in the conclusion of contracts and agreements that relate to the development and investment of oil and gas wealth.

Al-Allaibi said that the government and the Ministry of Oil are responsible for drawing and developing strategies related to oil and gas wealth in accordance with the constitution and the laws and powers and instructions in force, whether in the conclusion of agreements with countries or contracts with international companies,

otherwise these agreements and contracts are illegal and non-binding to the Iraqi state and grant the right to the government and the ministry To take legal action in domestic and international courts in order to protect national wealth. He pointed out that the government

Spectra: Dinar Updates‏ @DinarUpdates 5m5 minutes ago More Iraq-warns-foreign-oil-companies-from-contracting-with-the-Kurdistan-region-Release

chattels: @xyz #Iraq parliament was scheduled to discuss new elections commission today but postponed session until Sat. No quorum

http://www.alliraqnews.com/modules/news/article.php?storyid=67268 …

chattels: David M. Witty‏ @DavidMWitty1 10h10 hours ago More   LINK

 … Iraqi CTService says it is ready to begin operations in W Anbar.

xyz: @chattels they should be paid per session and/or hour


Spectra: Ron Paul Institute for Peace and Prosperity 9 mins · Whenever Ron Paul and Jesse Ventura sit down together you know the result is going to be very informative and entertaining. This recent interview does not disappoint. War is destroying our economy, says Dr. Paul.

“It’s insanity to think that war improves your economic condition; it improves the condition of the war manufacturers.” Catch the full interview at the link... Ron Paul Discusses Decades of Wars’ Damage to the American Economy http://ronpaulinstitute.org/…/ron-paul-discusses-decades-o…/

xyz: BANK RUN IMMINENT: CATALAN SEPARATISTS URGE SUPPORTERS TO PULL CASH FROM BANK http://www.zerohedge.com/news/2017-10-19/bank-run-looms-catalan-separatists-urge-supporters-pull-cash

xyz: US COMPANY ANNOUNCES SUSPENSION OF OPERATIONS IN KURDISTAN REGION http://translate.google.com/translate?u=http://www.alsumaria.tv/news/219178/- us chevron announced on thursday that it has temporarily suspended its oil and gas activities in iraq's kurdistan region.

"chevron has decided to suspend its operations temporarily," a company spokeswoman said in a statement, according to reuters. "we remain in regular contact with the kurdistan regional government and look forward to resuming our operations as soon as circumstances permit."

 the commander of operations to impose security in kirkuk announced on wednesday (october 18, 2017), the imposition of security in the province, while prime minister haider abadi, on thursday, the stability of the security situation in kirkuk, stressing not to allow problems.

xyz: THE MOST IMPORTANT ACTIVITIES CARRIED OUT IN THE IRAQI PAYMENTS SYSTEM DURING THE YEARS 2016/2015 AND THE FIRST HALF OF 2017 https://cbi.iq/news/view/442 -->

UPDATE OF THE IRAQI PAYMENT SYSTEM : -->THE INTERNATIONAL BANK ACCOUNT NUMBER ( IBAN ) IS BASED ON THE RTGS-ACH (PAYMENT SYSTEM ) -->

IMPLEMENTATION OF THE IRPS RETAIL PAYMENT INFRASTRUCTURE PROJECT CONSISTS OF: -->AUTOMATING THE WORK OF INTERNAL CONTROL AND ADDING A LEVEL OF REGULATORY SYSTEM TO ACTIVATE THE SUPERVISORY ROLE OF THE RTGS SYSTEM IN THE CENTRAL BANK OF IRAQ : -->

IBCS ( INTER BANK CLEARING SYSTEM ) -->STANDARDIZATION OF SECURITY SPECIFICATIONS FOR SUKUK: -->WORKING WITH THE WORLD BANK TO ASSESS AND PREPARE THE IRAQI PAYMENT SYSTEM IN LINE WITH INTERNATIONAL STANDARDS PFMIS -->LINKING COMPREHENSIVE BANKING SYSTEMS: -->

DEVELOPING THE CSD SYSTEM BY ADDING THE FOLLOWING: ISSUANCE OF ISLAMIC CERTIFICATES OF DEPOSIT ( ICD ). -->INVESTMENT MODULE INVESTMENT MODULE : -->

THE INVESTMENT LIMITS ON DEPOSITS (7,14,30) ON THE CSD SYSTEM ARE IMPLEMENTED DIRECTLY BY THE BANKS. -->DEVELOPING THE FINANCIAL MARKETS THROUGH ACTIVATING THE SECONDARY MARKET THROUGH THE TRADING SYSTEM ( TRADING SYSTEM ) -->REGIONAL SYSTEM FOR CLEARING AND SETTLEMENT OF ARAB PAYMENTS: -->

FORMATION OF THE IRAQI NATIONAL PAYMENTS COUNCIL : -->STRENGTHENING INTERNATIONAL REGIONAL COOPERATION WITH THE CENTRAL BANK OF IRAN: -->FINANCIAL INCLUSION: -->AUTOMATING THE WORK OF MINISTRIES AND GOVERNMENT INSTITUTIONS: -->TECHNICAL EVALUATION OF BANKS:

Spectra: @xyz good one

xyz: @Spectra LONG BUT WORTH READING ...
Spectra: @xyz yes

xyz: Kaperoni Moderator: I can’t state this enough, there is no overnight RV or any kind of cash out through banks.

Spectra: @xyz right -lol

xyz: i really don't care if it start to float tomorrow @ 3am as long as when i wake, i can head to reno.

BREW: Sharen Shares "Some Seemingly Good News From Yosef" !! "Souvenier Bundle" Intel as of Sunday PM: Sharen Brings us up to Date What We Should Expect on the 18th & 19th of This Month, October

xyz: nobody sing the reno music anymore. where is the hammerman and blamo?

BREW: @xyz HAVE YOU GOT TO GO TO RENO

BREW: @xyz BLAMO IS SAYING ANY TIME, RED ALERT.
BREW: @xyz I THINK HAMMERMAN IS IN PRISON.

xyz: @BREW where is he these days? last i heard of him is when he had a domestic argument with hammerman

xyz: @BREW what? i miss his posts ha

BREW: @xyz THEY SPLIT, BLAMO STAYS IN RENO TRYING TO CASH THE ZIM OUT WITH HIS OWN ELITE GROUP.

xyz: @BREW i miss the days when we were required to sit on own hands jejeje

BREW: @xyz HE STILL SENDS HIS TUES-THURS EMAIL OUT, SELLING HIS TRUST.

xyz: @BREW ok ty 
​BREW: @xyz I HAVE BEEN THERE AND DONE THAT, ONLY 4 BUCKS A MONTH.
BREW: @xyz WE PROBLY KNOW EACH OTHER, LOL

xyz: @BREW you know hammerman or blamo?

BREW: @xyz BOTH.
BREW: @xyz BLAMO REAL GOOD.

BREW: @xyz YOU COULD GO AS FAR AS SAYING TO GOOD.

xyz: have you met both or virtual buddies?

BREW: @xyz I HAVE MET ONE, BUDDIES, UH, NOPE

Zig: @BREW : LOL....I was in Hammerman's chat room that Blaino created for him....were any of you there??....long time ago......
BREW: @Zig YES.

Zig: I see that "Footforward" recorded a short call....lol...I think he came in here once a long time ago.....
Zig: The characters the we have seen....unbelievable

BREW: @Zig YEPPER.
BREW: @Zig MIND BLOWING.
 IQD CHAT

DA UPDATE, 19 OCT

kaperoni   Moderator:   US banks, is considering working with Iraqi banks mechanism

Since 19.10.2017 at 11:02 (Baghdad time)   Baghdad balances News

Discuss Iraqi banking delegation, with a number of banks and financial institutions operating in the United States opportunities for cooperation between the two parties.

The Iraqi Association of private banks in a statement received / scales News / copy of it, "a delegation of 17 private banking and banks, Rafidain and Industrial and Executive Director of the Association of Private Banks Ali Tariq and a number of advisors Association held a meeting at the Center for American Strategic Studies in Washington with the US delegation that included US Treasury and US banks and institutions OPEC US financial institutions and a number of workers at the US embassy and was discussed during the meeting of Iraq's economy and the challenges facing it. "
 ...
The Association added that "consider progress in meeting the Iraqi banking sector, especially in the last five years and strengthen cooperation with Arab and foreign banks, as well as the reconstruction of the liberated areas and the development of the oil sector plans."

For his part, he explained the representative of the Strategic Studies Center, US Dan, Randy, who moderated the session, that "the global media reverse negative Iraq image over the past years, which greatly affected the entry of foreign work companies in Iraq," noting that "the Iraqi market has a great pros and opportunity great for investors to work in it. "

On the other hand, the Executive Director of the Association of Private Banks, Tariq Ali explained, the US delegation to the "development witnessed by the Iraqi banking sector and the challenges facing during the current period." According to the statement.

Tariq said, "Despite the general conditions of the country, but the work of banks in constant evolution and seek to reduce the use of cash in transactions of life through projects that are working on the Iraqi private banks association in cooperation with the Central Bank such as the financial inclusion and localization of salaries."

He pointed out that "private banks are working hard to be share balanced with government banks through deposits, through the issuance of decisions motivate government departments to deal with private banks," noting that "Iraqi banks implement anti-money laundering and terrorism special instructions law compliance and risk management ".

In turn, the Middle East, an official at Citibank, Dennis Flannery, said that "US banks now have greater reassurance to the Iraqi banks, especially after the Iraqi Central Bank of positive steps to combat money laundering and punish the offenders."

He pointed out that "US banks considering the working mechanism with Iraqi banks and projects that provide a smooth flow of work."

Decided the Iraqi Association of private banks, "the continuation of the establishment of regular meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between the Iraqi and American banks" .anthy 29 / A 43

LINK


Kaperoni Moderator:  The most important banks in the world's largest declares, "reassurance" US banks toward their Iraqi counterparts     09:52:52 || October 19, 2017

Center for Strategic Studies considered American, Thursday, that the global media reflected a negative image Iraq over the past years, stressing that the Iraqi market with the advantages of a great opportunity for investors, while noting the Middle East , an official at the Bank "Citibank" (which is one of the largest banks in the world) to check on US banks to Iraqi banks after the Central Bank of Iraq steps "positive" of combating money laundering and punish violators.

The Iraqi Association of private banks, in a statement received, the agency Detector News, a copy of it, " The delegation discussed the Iraqi banking with a number of banks and financial institutions operating in the United States cooperation opportunities between the two parties, "indicating that" Alovda included 17 private banks and bank Rafidain and industrial executive director of the Association of Private Banks Tariq Ali and a number of advisors Association. "

She explained that "the delegation held a meeting at the Center for American Strategic Studies in Washington, with a US delegation included US Treasury and US banks and institutions OPEC US financial institutions and a number of workers at the US embassy and was discussed during the meeting of Iraq's economy and the challenges it faces.",

Noting that "the meeting consider progress in the Iraqi banking sector, especially in the last five years and strengthen cooperation with Arab and foreign banks as well as the reconstruction of the liberated areas and the development of the oil sector plans. "

The statement noted that "the representative of the Strategic Studies Center, US Dan, Randy, who moderated the session, said that the global media reversing negative about Iraq image over the past years, which greatly affected the entry of foreign work companies in Iraq," noting that "the Iraqi market with the pros great and great opportunity for investors to work in it. "

And that "the Executive Director of the Association of Private Banks Ali Tariq, explained to the development witnessed by the Iraqi banking sector and the challenges facing during the current period, the US delegation," said Tariq, said that "despite the general conditions of the country, but the work of banks in constant evolution and seek to reduce the use of cash in the dealings of life through projects that are working on the Iraqi private banks association in cooperation with the Central Bank such as the financial inclusion and localization of salaries. "

He added that "private banks are working hard to be share balanced with government banks through deposits, through the issuance of decisions motivate government departments to deal with private banks," noting that "the Iraqi banks implement anti-money laundering and terrorism special instructions law compliance and risk management" .

While, the Middle East, an official at Citibank, Dennis Flannery, said that "US banks said to have now check the largest Iraqi banks, especially after the Central Bank of Iraq moves the positive of combating money laundering and punish the offenders.", Adding that "US banks is considering working with banks mechanism Iraqi projects that provide a smooth flow of work. "

It decided the Iraqi Association of private banks, according to the statement, "the continuation of the establishment of regular meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between the Iraqi and American banks."

The "Citibank", which was founded in 1812, one of the largest banks in the world, which is the banking arm of Citigroup. And it works in more than 100 countries around the world. The group with "Citigroup" the largest bank in terms of deposits in the United States, followed by Bank of America and JP Morgan Chase.

http://www.alkashfnews.com/11647

Kaperoni Moderator:    I can’t state this enough, there is no overnight RV or any kind of cash out through banks. If these articles show us anything, it shows us that banks by nature take a conservative approach to dealing with Iraq. If and when Iraq is in compliance with the IMF and meets Article VIII, then I would expect a few US banks to begin to participate with Iraq for investment purposes.

As that grows and the CBI demonstrates it can meet the needs and requirements, investment will increase opening the flood gates to investors. But this does not happen fast. As for us as investors, I have stated before, I believe we are just "watchers". We will see the dinar begin to rise via float when appropriate.

As for of cash out or exchanges would probably be through some type of currency broker/ ECN, market maker or investment firm. The problem is this all falls on Iraq to get moving. Without the new CBI law, deposit insurance law, Article VIII, etc. nothing happens.  
Kaperoni  Moderator:   Iraqi bank delegation discusses cooperation opportunities in America

19/10/2017   Twilight News / Iraqi bank delegation discussed with a number of banks and financial institutions operating in the United States opportunities for cooperation between the two parties.

The Iraqi Association of private banks in a statement reported to Twilight News, on Thursday, said that "a delegation of 17 private banking and banks, Rafidain and Industrial and Executive Director of the Association of Private Banks Ali Tariq and a number of advisors Association held a meeting at the Center for American Strategic Studies in Washington, with a US delegation included Treasury US and US banks and institutions OPEC US financial institutions and a number of workers at the US embassy and was discussed during the meeting of Iraq's economy and the challenges facing it. "

She added that "consider progress in meeting the Iraqi banking sector, especially in the last five years and strengthen cooperation with Arab and foreign banks as well as the reconstruction of the liberated areas and the development of the oil sector plans."

Read More LINK:
http://www.shafaaq.com/ar/Ar_NewsReader/304199fb-d66b-4ea4-ac42-a8bb2466a9fa

mike  Moderator:   Good stuff Kap. Laser verrsion for these kinds of articles: US sees upside, banks aren't ready or supported, let's study and circle up again three months from now at the Hilton with the crazy all you can eat falafel bar.

What we're missing is political will to move Iraq forward economically. Pass the laws and empower the open market economy and the dinar will rise as the unemployment drops. These guys can create arrest warrants and pass legislation when they want to, it would be great if they focused a little more on the economy.


Punisher:
   US banks now have greater reassurance to the Iraqi banks, especially after the Iraqi Central Bank of positive steps to combat money laundering and punish the offenders."

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DINAR GURUS UPDATE, 19 OCT

10-19-2017   Newshound/Intel Guru BGG   Article:  "Iraq Will Remain United By HAIDER al-ABADI OCT. 18, 2017"  Quote:  "In June 2014, the cover of Time magazine echoed a sentiment common among pundits and outsiders: “The End of Iraq, it read. I am proud to say that three years later, thanks to the Iraqi armed forces and the Iraqi people, these predictions were wrong…"   What is Abadi up to??   Why submit this to the NYT today??   Of all the times to be concerned with what the world thinks. It appears there may be much more riding on this than we can imagine.

10-19-2017  Guest Guru BobTheTaxMan 
 My invitation to you is relax, ok…you bought your ticket, relax.  It’s going to come to fruition at some time.  You have your investment, so relax…When this thing comes to fruition you will know cause the whole world is going to know.  It had huge amount of exposure several years ago.  I mean even on national news everyone was buying their dinar, ok.  You’ll hear it.  It will go through the communities like crazy.  Another part of it is, when you tie yourself in to these groups that are saying, “With our 800 number you’ll be able to…”, You don’t need those.  those are not necessary.  They are not important.  I wouldn’t even bother with them.  So don’t worry about attaching yourself to anything like that.  So just relax.  You have an investment.  It has a great potential and it’s a minimal amount of investment. Relax.

10-19-2017   Intel Guru RayRen98  [...we are hearing it has happened, or is about to happen… not that we can believe anything from Maliki’s news sources.]  Yes, they have been claiming that ‘fake news’ is being put out in Iraq.  But Abadi did speak...  They said, “In the coming days it will be done”, and here is Abadi saying the same thing.  And I don’t know exactly when the RV will pop, but it’s clearly getting done based on what’s being done.  Of course it’s frustrating to wait, but if this had come out a year or two ago, we all might have made some major mistakes.

10-19-2017   Newshound/Intel Guru Mnt Goat  Allaq was in the USA at a World Banking Conference in Washington DC last week... If you truly listen to the speech ...you would see that he was introduced as the governor of the CBI, as has been done many times already in many other past meetings with the IMF, UN, World Bank, etc... So why was he not then the “official“ governor since his introduction was exactly the same?  Saturday’s introduction does not mean he is now “officially” appointed the governor the CBI.  We have absolutely no other confirmation that this has officially been done, and when he is appointed, if he gets appointed, you will not have to guess at it, since it will be international news and widely known.  I rechecked with my CBI contact in Iraq and Allaq is still a proxy governor. 

10-19-2017   Newshound Guru Adam Montana  Article:  "Haider al-Abadi Is Succeeding At The World’s Hardest Job!"    I said it in 2013, and I will continue to say it: Abadi is the best man we could possibly hope for to lead Iraq forward.  Elections will be coming up in 1Q 2018, which is not too far away... but if the election process will have any impact on an RV-push, we have to be prepared to ride this out a little longer. If Abadi does have a secret weapon in his stash to tip the Iraqi Dinar into a revalue situation, he could certainly use it at any time between now and April. I don't see a significant benefit to waiting TOO long, in fact it would be better to use that tool sooner rather than later. There will be some major changes across the board after the currency jumps, and it might be in Abadi's favor to have a month or two to settle everything down before he begins campaigning for re-election based on an incredibly successful 4 years.

10-19-2017   Intel/Newshound Guru payray   Article:  "The participation of a huge Saudi Arabia in Baghdad International Fair"  Quote:  "...during the period from 21 to 30 current month of October by 60 companies from various industrial and service sectors."    The Saudi's are certainly chomping at the bit to benefit from Iraq's potential... The need for the Iraqi economy to have a currency that is international in order to ensure that the Saudi's exports will be afforded, and bought within Iraq is essential...  Certainly would be nice if that added value would occur before the beginning of this 9 day fair...

Calls for Barzani to Resign/UN praises CBI Implementing Economic Reforms