Samson: Details .. Iraq and Iran announce a financial agreement and the exchange of basic commodities
17th June, 2020
President of the Central Bank of Iran, Abdel Nasser Hamti, stressed the expansion of monetary and banking cooperation between his country and Iraq, revealing the use of a joint mechanism to accelerate the supply of basic commodities.
Hamti, who arrived in Baghdad this morning, Wednesday, to discuss joint monetary and banking cooperation between the two countries and during his meeting with the Director of the Iraqi Central Bank, Ali Al-Alaq, “We have reached during the previous visits to good and constructive agreements through proposals that have been put forward by both sides, and it was agreed to use the resources we have in Iraq to buy goods that are not part of the economic sanctions, and we also reached a good understanding during our visit.”
He added, “Currently, the two countries have the desire and desire to implement this agreement quickly.”
For his part, the Governor of the Central Bank of Iraq, Ali Mohsen Ismail Al-Alaq, pointed to the understandings that were agreed upon during the past year between the two central banks, which were signed by both sides, saying that “this memorandum of understanding, which relates to financial and banking matters between the two sides and the way to benefit from the sources of the Iranian Central Bank It was discussed in a transparent manner, and today it was agreed to activate the necessary procedures accordingly.”
The meeting was attended by representatives of the ministries of Industry, Minerals and Trade (silence), and the head of the Iranian National Gas Company in addition to the President of the Iranian Central Bank. It was also agreed between the heads of the Iranian and Iraqi Central Bank during this meeting, on the mechanism for implementing this agreement.
The head of the Iranian Central Bank confirmed that Iran is determined to take advantage of its external sources to import basic commodities into the country and benefit from them, including medicine. “After the agreement that was made today with the President of the Central Bank of Iraq, we will start working with Iraq on this platform from today,” he said, who is currently visiting Baghdad, in a press statement after his meeting with Al-Alaq. He added, “The Islamic Republic has good financial resources in Iraq, and it was agreed and the decision was made to import a portion of the basic commodities that we need in our country from this neighboring country.”
Hamti pointed out that “an agreement was signed on the mechanism of financial payment last year between Iran and Iraq, and the exploitation of Iranian resources in Iraq was part of this agreement.” He stressed that “the Islamic Republic is keen to expand financial and banking relations with Iraq through the Iranian Central Bank and the rest of the banks operating in this country.” The head of the Iraqi Central Bank, Ali Al-Alaq, said, “The largest part of these Iranian financial sources that are in Iraq is related to energy (gas and electricity), and therefore, according to the new agreement, these resources will be utilized.”
Ali Al-Alaq pointed out that “the meeting today resulted in the signing of the understanding that took place during the past year on the mechanism of financial work between the Iraqi Central Bank and the Iranian, and this agreement was discussed and an agreement was reached on the implementation of parts of it, including the export of basic commodities to Iran.”
In response to a question, is it possible that this agreement between the two countries could be affected in the event of an external intervention, he said, “All parties agreed to this automated and financial agreement and it was carried out in complete transparency.”
Al-Alaq stressed that this agreement took place at an international level and was agreed upon. The head of the Iranian Central Bank, Abdul Nasser Hamti, arrived in Baghdad at the head of a high-level delegation this morning, Wednesday.
Prime Minister Mustafa Al-Kazemi decided, on Wednesday, to keep the head of the Popular Mobilization Authority, Faleh Al-Fayyad, the governor of the Central Bank, Ali Al-Alaq, and the director of the retirement board, Ahmed Abdul-Jalil, to continue working in their positions.
According to documents issued by Al-Kazemi’s office obtained by Al-Akhbariya, according to the approval of the Prime Minister, it was decided to continue assigning Faleh Al-Fayyad to continue running the affairs of the Presidency of the Popular Mobilization Authority.
In a separate document, it was also decided, and will continue, on the relationship to manage the affairs of the Governor of the Central Bank, as stated in another document, which decided to continue assigning Ahmed Abdel Jalil to conduct the affairs of the retirement board. LINK
DELTA: FAMILY, I DID READ THE DOCUMENTS IN ARABIC … ALAQ WILL STAY AND WILL HAVE THE FULL POWER OF CBI … BUT ONLY UNTIL 07/15/20……….LIKE I SAID ON THE PAST CC………THEY NEED HIM UNTIL RI IS DONE…..SO IMO…….RI SHOULD TAKE PLACE IN BETWEEN ……..AMAZING……GAME OVER…
MilitiaMan: I hope everyone understands that Iran is always going to be a trading partner with Iraq. The international level they speak of is imo with the likes of the USA, WB, IMF, UST, UK, EU, etc..
They have an agreement done and they agreed on the mechanism to facilitate it.. They have started the work on the platform yesterday.. The meetings apparently were necessary to have and to be successful. From the looks of it they were successful and had to be done to get where we are going. This imo is flat out huge for us all!
Let that bit sink in. Alak has been involved the whole time. The PM has had meetings with him and here we see his tenure is through 07/15/2020.. He will be the one that gets credit for the Monetary Reform of a Re In-statement of the IQD. imo That high level delegation was or is in conjunction with the aforementioned international entities…
They all know the mechanism now too. They had to agree on it.. What is a mechanism you might ask? Here is an example of one.. So, the meetings last week and the follow up this week is powerful and should have everyone smiling.. imo ~ MM
JJimmyJJ: I know that Iran doesn’t like Iraq throwing off their dependance on Iran, but having Iraq go international can be a huge advantage for Iran.
Since Iran is an international pariah, having Iraq next door with no import/ export sanctions and an internationally- traded currency gives Iran access to goods and hard currency they couldn’t access otherwise.
Getting out of the way and allowing Iraq to RI allows Iran to steal in new and exciting ways. And, from the US side, I’d imagine giving up some organized crime is preferable to having Iran run Iraq as a vassal state.
It isn’t perfect, but it allows all sides to get some of they want… and Iraq can always arrest the Iranian crooks later. …….My 2 cents.
Don961: Disclosure of American pledges to help Iraq overcome the financial crisis
Policy 2020/06/18 20:43 416 Baghdad today – Baghdad
Member of the Parliamentary Finance Committee, Sherwan Mirza, confirmed today, Thursday, that the United States of America has expressed its readiness to help Iraq overcome the current financial crisis.
Sherwan Mirza said, in an interview with (Baghdad today), that “the American Secretary of State announced his country’s readiness to provide sums of money to help Iraq overcome the current economic crisis,” noting that “he did not announce his country’s terms for that assistance in the event that it is achieved.”
Mirza added, “The Ministry of Finance is negotiating with the International Monetary Fund and the World Bank to obtain financing, but it has not reached any agreement yet.”
And a member of the Finance Committee in Parliament stated that “the government seeks to borrow in order to secure the salaries of employees, and not to secure the investment budget, but we stressed in our meeting with the Minister of Finance that part of those loans go to investment.”
The head of the in the strategic dialogue with Washington, had revealed earlier, the content of US pledges to assist Iraq in the energy and financial crisis.
Hashem said, in an interview with the program (Shortest Roads) presented by the media, Dr. Nabil Jassem on Al Sharqiya News Channel that
“Iraq presented a description to Washington regarding the financial crisis and the Corona pandemic, and the American delegation expressed its willingness to assist Iraq directly in the financial aspect through certain mechanisms and influence the International organizations, including the cash box, to help Iraq or American companies to push them to invest in us, and urge friendly and neighboring countries to Iraq to help them also in this file. ” LINK
MilitiaMan: Iraq is on the fast track! They have done what they have needed to do lately in regard to many files. The new PM and his Deputy the FM have everyone’s attention now.
The meetings over the last couple weeks and days, have apparently been on target. They have the attention of the USA directly, and who if you’ll notice speak of mechanisms; along with payments, agreements, transparency (trust), all related to fixing a crisis and quickly I might add.
When high delegations meet they have an agenda. In this case it is to help Iraq with their new beginning in coming out into a market economy..
Notice that in the event of external intervention things can be affected.. Well when and if the USA intervenes, things can get affected.. lol imo..
Also not that they have an automated financial agreement and the platform started yesterday from the writing above. So whereby they have the mechanisms to facilitate the opening and all within this month, imo..
The focus is on the financial crisis and energy.. Don’t think for a moment that there is massive deals gearing the start a new..
With the USA having influence the investors will come and help, just as the neighbors are too. Even Iran is and was at the table too.. Apparently that went very well too.
Exciting times.. imo Lets see what the CBI has to say or even Allawi… imo ~ MM
Don961: Zain prepares for an era of encrypted transactions and codes by joining Hedera Hashgraaf’s Board of Directors
Economie 06/16 2020 12:41 349 Editor: hr
Baghdad today – Baghdad
Zain Group (Kuwait Stock Exchange: Zain) announced that it has joined the Board of Directors of Hedera Hashgraph, a network targeting the enterprise sector, and that is based on distributed ledger technology or “Distributed Ledger Technology” (DLT) that includes blockchain technology.
Zain Group revealed in a press statement that it is the first company in the region to join this project, in order to participate the largest community of innovators in the world, as Hedera Hashgraph Board of Directors includes international companies from all sectors: Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London, and Wipro.
Zain, which owns and operates 8 advanced telecom networks in the Middle East and Africa markets, explained that the tasks of the work of the Board of Directors (Hedera Hashgraaf) is to develop practical plans to ensure the reliability of work and lead decision-making, as Hedera Hashgraph provides the next generation of distributed accounts, which is Faster and safer than traditional blockchains.
The group stated that the project provides a new way for communities of individuals and companies whose members do not know each other or trust each other to cooperate safely and interact online without the need for a reliable broker, indicating that it is through this cooperation that it will gain innovative insights in its digital operations on trends and applications in areas Distributed Account Book (DLT), where you will be able to evaluate opportunities for future development of its products.
Zain stressed that as a leading international institution in the digital services sector, it is constantly looking for the best technological options that can provide new solutions for its individual and corporate customers, and that the (Hedera Hashgraaf) patented platform addresses environmental issues of global importance as Its energy system is extremely efficient, given that part of the energy used by the blockchain platforms is used. This trend is in line with Zain Group’s membership and commitment to the Carbon Early Detection Project, which provides a reporting framework to address climate change.
Its vision aims to focus on addressing four basic challenges of adopting a distributed book of accounts (DLT): technology, security, stability, and governance. In order to achieve this vision, it is required to be governed by a wide range of different sectors, distributed over geographical regions.
Distributed Account Book (DLT) technology uses a consensus algorithm based on hashgrave to allow multiple branches of blocks instead of one chain, according to a digital system for keeping records of owners of specific assets, and to ensure the balance of accounts, and this technology works in place of the centralized system used and recognized, This technology also allows everyone within this mechanism to view and approve transactions, as the system saves data dated for all transactions in the encrypted ledger record.
The Vice Chairman and CEO of the Zain Badr Group Nasser Al-Kharafi expressed his happiness for the Zain Group joining the Board of Directors (Hedera Hashgraaf) in which a list of the most innovative companies in the world is participating. Able to facilitate payments and file storage and support smart contracts, needed by the development of the digital economy. ”
He continued, “We also hope that our participation in (Hedera Hashgraaf) will contribute to advancing technological innovations and areas of electronic commerce and the enterprise and business sector in the markets of the Middle East region, and also enhance our initiatives on the interface of our applications, through which we provide financial technology, e-health, The Internet of Things, fifth-generation applications, as well as drone solutions, are all areas of sophistication and improvement with distributed notebook technology. ”
For his part, Chief Executive Officer of Hedera Hashgraph Mans Mans Harmon said, “We are delighted to join Zain Group in the company’s board of directors, due to its long track record of initiatives and innovations in the Middle East and Africa markets, where it possesses a rich balance of services and advanced products in the digital services sector.”
It is worth noting that the Board of Directors of Hedera Hashgraph will work on drawing the technical roadmap for the network, and will provide commercial expertise to manage commercial operations, the necessary expertise in the fields of economics and currency markets to manage cryptocurrencies, in addition to legal expertise to help navigate the evolving regulatory environments in the global markets. Management to build decentralized governance of distributed notebook technology.
MilitiaMan: The word is out.. The country of Iraq is opening to a market economy. This company may lead the charge in TRANSPARENCY!!! …………………….TRUST!!! Oh ya.. imo ~ MM
“It was discussed in a transparent manner, and today it was agreed to activate the necessary procedures accordingly.”
“”All parties agreed to this automated and financial agreement and it was carried out in complete transparency.” LINK