I bring you much news today.
In the Jan 6th news letter I promised everyone I would try to answer any questions you have over concerns or in need of clarity on this investment of the Iraqi dinar revaluation. The news was so plentiful this period and this news letter would then be much too long to include all my responses so I decided to put my replies to your questions in a separate news letter called “special edition”. (Dinar Recaps will likely post this later tonight.) So please also refer to this other news letter today in a separate enclosure.
On with today’s news……..
The Iraqi House of Representatives began is its third legislative year of the second legislative term on Tuesday Jan 10th. We know that they have told us in the recent past they have 30+ laws that need to be voted on. These laws all have second readings and are ready for a final vote. So why have they waiting so long for these laws if they are ready?
Many of these laws have dependencies. Dependency on having security, having the war with ISIS concluded, the 2017 budget in effect, etc.
They also told us in the past that when the new legislation session begins Abadi will present his candidates for the vacant cabinet minister positions.
So now we see Abadi reaching out to the parties of the National Alliance to agree on the new interior minister, name a successor to outgoing Minister Mohammad Al Ghabban. They told us the delay in the announcement of the ministries fill vacancies due to differences on the nomination of the Minister of Interior, stressing once again that “the beginning of the next legislative term will see the resolution of the vacant ministries file.”
President Fouad Massoum on “financial budget law to 2017″, has approved the federal budget of the Republic of Iraq for the fiscal year 2017 ″, noting” that it was sent for publication in the Official Gazette “. (WARNING – this will not mean an automatic RV, nor that the “RV new rate” will be written in the budget for us to see. So relax and take it easy! Just like in all these other past years when these other people who told you this means RV, just ignore it. Just all foolishness and hype to get you come to their site and calls. After all they need something easy to hype you up since they don’t bother to learn about Iraq or read all the articles so they can make conclusions or connect the pieces to BETTER inform you.
I also present to you today four articles on projects under the physical and economic reconstruction efforts of Iraq. These are important because it does not sound like Iraq is “going to the dogs”, as many have in their mind say has happened already. Really “to the dogs?” Instead they are moving more forward very rapidly. I have not seen this kind of progress EVER in this investment. I have been watching it now for 10 years. It is all a matter of time before tourist flock in from the rest of the middle east as well as from around the world. These next 5 years are going to be pivotal for Iraq.
So now do you see why the Interior minister position is a high priority for Abadi to get seated? See why it is in the news. All these reconstruction projects come under the Interior ministry. It’s all interconnected.
I do not have a Q&A conference call, nor do I have an online forum or web site for contact and communication. So how can you communicate with me? I often give you this opportunity via my news letter. So now let me address some of the questions from my readers from my last invitation. In my last news letter I promised I would clarify or help you understand issues better in this news letter. So here goes….
Remember also the USA military is now there to stay.
As always my comments are in italic RED.
Chinese company holds the financing and implementation of sky train between the provinces of Karbala and Najaf
General manager of the railway company said peace Jubair, said on Monday that the train project suspense between Karbala and Najaf had intensive feasibility study between the two provinces.
Jubair In an interview I followed news agency public opinion (Bona News), he said that “This project will be one of the first strategic project to connect a number of Central Euphrates provinces network of outstanding trains , ” noting that “Chinese companies are going to fulfill the financing of this project commentator on that Karbala pay the financial cost of the project over twentyfive years. Jubair said that ” to start the groundwork in the first project of its kind in Iraq requires central government approval first.” ( many do not see just how HUGE this project is for Iraq. They are planning a modernized society. Did you know the tallest sky scraper in the world is also planned for Iraq? A brand-new tower known as “The Bride” is proposed by AMBS Architects, it will be the new tallest building in the world. Set to rise in Iraq’s oil-rich Basra Province, the complex is actually made up of four conjoined towers, totaling 604 stories and 16.6 million square feet. See link below. Does this look like “Iraq is going to the dogs”? Such a foolish, ignorant statement often made by many of these so called “intel guru” followers. But then again we should expect such statements from ignorant people…..shouldn’t we?
Iraq and Japan sign a memorandum with a loan for the reconstruction of the electricity sector
Iraq and Japan signed on Tuesday a memorandum of loan – related reconstruction of the electricity sector – the third phase.
According to a presidential statement received by all of Iraq a copy of which was ” in the presence of Prime Minister [Minister of Finance Agency] Haider Abadi , an official delegation of Japanese headed by Minister of State for Foreign Affairs Quintaroa Sonoaor, took place on Tuesday the signing of the mutual notes and minutes of discussions between the Government of the Republic of Iraq and the government of ceremony Japan – related loan rebuild the electricity sector – the third stage. “
“The note was signed by the Iraqi side, Undersecretary of the Ministry of Finance Fadhil Nabi Othman , and the Japanese Ambassador to the Japanese side Fumioa Yuai.” (do you think they will need electricity to run those ATM machines, debit card swiping machines? Its not all just about those running those AC units. Did I mention computers for e-dinar banking also work off of electricty?….lol….lol…Its all interconnected)
Central Bank initiate labor-mail system to sell the dollar/CBI announces direct work in the electronic system to sell the dollar
The Central Bank of Iraq, Tuesday, Mbacherth labor-mail system to sell the dollar, indicating that he would be re-assessment every three months in light of the performance of banks.
The bank said in a statement issued today, and received “Economy News,” a copy of it, he “began to work in the private mail system to distribute the dollar on the basis of standards and evaluation that was earned each bank and corporate financial transfer”, noting that “the electronic system will ensure effective control required by the rules commitment to the fight against money laundering and terrorism financing law. “
The bank added that “the electronic system will also verify the integrity of the selling and buying of the dollar and the capabilities of the bank in the management of these operations requirements,” noting that “the assessment will be every three months in light of the performance of banks and that it will be banks and financial institutions that are of low evaluation of accounting.”
The Iraqi central bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies. (VERY interesting articles. So what is it telling us? It is saying that they decided to institute an electronic system (the labor mail system) for the selling of dollars. Does this replace the currency auctions? NO! and I want to emphasis NO since this is simply a system for exchanging dinars to dollars to meet the limit (cap) they put on dollars allowed to leave Iraq for misc travel abroad. Many of these intel gurus will jump on the band wagon and tell you the currency auctions just went away. Don’t believe it.
This is spending petty cash (in dollars) just like you exchange money to travel to Europe. So this is notdollars to pay foreign remittances as for importing. This new system can track who is getting the dollars and why. We know that the CBI wants to combat money laundering and funding terrorists. I quote from the article – “the electronic system will ensure effective control required by the rules commitment to the fight against money laundering and terrorism financing law. “. They told us every three months they will audit the banks and see who is not abiding by the law. So this is a crack down on the banks too)
Activate the digital economy in Iraq through Zain Cash application of the new smart phones
(Independent) .. Company “Zain Cash” launched a new electronic service to its subscribers, represented by the application of Zain Cash for smart phones, which is a leap forward the framework of its services chain, which aims to revitalize the marketplace for online shopping and mobile phone in Iraq, where aspiring Zain Cash through this application to gain access to a large segment of the mission and its customers, and provide an opportunity for them to use their phones for shopping.
Application Zain Cash Zain Cash and allow for all financial transactions in an easy way, such as the withdrawal and deposit money from the wallet and transfer funds between subscribers and the payment of invoices and electronic shopping online and shipping Zain Iraq lines and the purchase of electronic tags such as (ITunes, Google Play, Amazon, Xbox, Fastlink, and other ). The new application (which works on smart phones by Regular and Android (IOS and can be downloaded for free from my Apple store or Google play.
Some argue that the number of mobile users around the world continues to grow, due to the sophistication and diversity of mobile phone services and easily accessible, and in number of mobile phone used lines to 33.5 million according to the Central Bureau of Statistics, add to that the time spent by users of telephone rate Mobile continues to increase, making it a trading and money transfer by mobile phone pay step to develop and push the wheel of development of e-commerce and electronic payment market more broadly spread.
Zain Cash experiencing widespread because of the electronic financial solutions offered, in terms of facilitating the payment and receipt of customers and dealers alike process.
It is worth mentioning that Zain Cash and services the application up to a large segment of Zain Iraq subscribers, and with the growing new applications and facilities offered by the company, it is expected that e-commerce and shopping market is via the Internet in Iraq very active, especially as the number of Internet users in Iraq to nearly 11 million, according to user statistics. (all I can say to this articles is – “welcome to the 21st century Iraq! Now how about doing something with your currency? …lol…lol…)
Central Bank announces the adoption of the international mathematical number (IBAN) makes all the conversions
Independent) … the Iraqi Central Bank announced the adoption of the international mathematical number (IBAN) in all local and foreign remittances for the purpose of unification of bank account numbers in banks and Iraq, while stressing that the new formula will improve the level of financial and banking services and overcome common mistakes when remittance.
The central bank said in a statement received by the (independent) announced today that “the Bank has adopted the international mathematical figure of IBAN, starting from the second of January of 2017 in all local and foreign remittances for the purpose of unification of bank account numbers in all operating banks in Iraq.”
Bank, said that “adding a new version of the account numbers will contribute to improve the level of financial and banking services as well as common mistakes exceeded in some banks and financial institutions in the use of customer accounts when remittance figures.”
(Maybe we all should take a step back and research this before we go off half cocked as many of these so called intel gurus is over this latest news. NO! – this does not mean an RV is imminent. Do you have a checking account? Ever wonder how they validate your account number on the check? They feed ever check through a check reader. They do not have an operator sitting there doing it manually. I heard from the CBI contact they decided to finally come onboard with this software since they were having a mess at the banks trying to manually manage all the tens of thousands of new requests for checking and savings accounts. This of course is due to the new e-dinar and electronic deposits now being made by the govt for pensions and salaries. Many bash me and say but Mnt Goat- they have been doing this already for years. NO they have not and if you knew anything of what really is happening in Iraq you would know they attempted to do this project many times in the past and it was unsuccessful. First many villages in the provinces didn’t even have electricity, next the people under Maliki did not trust the banks, and they the govt itself could not properly manage these deposits in a timely manner. So the project fell apart and was delayed.
Okay so what is IBAN? IBAN.com is an online software designed to validate and calculate International Bank Account Numbers (IBAN). The software performs various mathematical checksum calculations in order to determine if the IBAN you entered is valid. If the entered IBAN is valid our software attempts to identify the bank owning this account, country, address and BIC code. It currently can perform domestic account validation algorithm tests on 95 total countries and all 37 SEPA countries. The system can respectively identify 95 distinct data structures and perform IBAN format, check digit and length validations. So now Iraq has been added to the list of countries. It’s now 96 countries.
This is VERY good for Iraq and once again shows us they are moving quickly towards modern banking practices to mirror highly developed banking sectors for developed/industrialized countries of the world. So why is this important for Iraq?
It is important because it shows us just where they are aiming. This IBAN will eliminate bank fraud, corruption and bring stability to the banking sector for Iraq. There are so many good implications to implementing this system in Iraq. Citizens will be more likely to want an account thus bring more liquidity and more money for the banks to loan out for private businesses. This is kick starting the private sector we keep hearing about. Get it?
Like I said the govt tried everything in the past unsuccessfully to kick start the banks and could not do it. The IMF stepped in and advised them to take these measures and so one by one we are now seeing them implemented. We don’t know what we don’t know since we are not in Iraq and don’t know exactly just how bad the banking sector is so we don’t know what changes are really needed and what to look forward to. But we do know they have a timeline and we are within it. Hey Frank I hope you are listening to all this. The IBAN implementation target for Jan 2nd does not mean they are international. This is the farthest from the truth. But in the long term, when they do go international, of course this will be needed to validate checks used for remittances submitted to the banks.)
Kuwait to help Iraq rebuild Mosul
Deputy Foreign Minister Khaled al-Jarallah
KUWAIT: Deputy Foreign Minister Khaled Al-Jarallah said Kuwait and Iraq have already discussed holding a special conference to rebuild Mosul after liberating it from IS, as well as the possibility that a donors’ conference be hosted in Kuwait for this purpose. “Iraqis have been requested to prepare a vision of the conference,” Jarallah added, noting that the Iraqi side promised to come up with the vision and discuss it with Kuwait soon.
Jarallah said legal affairs managers at both foreign ministries will meet soon to discuss the details of demarking marine borders after mark 162. He also denied the presence of any problems or disputes concerning oil fields or other natural resources on the borders. Jarallah added that discussions also tackled navigation through Abdullah Creek and that both sides agreed to put a related agreement signed in 2014 into practice.
“Signing an agreement to organize aviation between both countries will help launch commercial flights between Baghdad and Kuwait soon,” he concluded.(Oh but wait a second these intel guru followers say Iraq is “going to the dogs”….lol…lol….)
Daesh’s days in Mosul ‘are numbered’, Pentagon says
Daesh’s “surrounded on all sides” in Mosul by superior fighters, the said Monday as Iraqi-led forces continue their campaign to wrest control of the city from the group.
“Their days there, particularly in east Mosul, are numbered and they are beginning to realize it,” spokesman Capt. Jeff Davis told reporters.
The US-led anti-Daesh coalition has carried out seven air strikes in the past 24 hours to assist local forces, Davis said. And the coalition has recently doubled its number of advisors on the ground assisting the effort, with forces there now roughly totaling 450.
A total of 4,500 civilians recently fled the northern Iraqi city as the government forces launched the second phase of the operation. (2 weeks ago)
Daesh seized Mosul in its entirety from Iraqi forces in 2014, later entrenching themselves in the dense urban setting. Efforts to retake the city have been met with fierce resistance, and a planned goal by the end of 2016 could not be achieved. Iraqi Prime Minister Haider al-Abadi said in December 2016 that at least three more months would be required to completely remove Daesh from Iraq. Since the operation began last October, Iraqi forces have reportedly recaptured more than a quarter of Mosul, once considered Iraq’s second largest city in terms of population. (we also read recently that they are now in the center of Mosul and almost all of Mosul is now liberated)
The head of the Iraq’s parliamentary committee for refugee affairs, Ra’ad al-Dahlaki, said last week that 145,000 civilians have fled the city since the beginning of the operation. (Okay sounds like the final weeks to this effort…….right? So then why did they recycled an old article about the fight as they told us again a top Iraqi commander told The Associated Press that the operation to retake the city of Mosul from the Islamic State group could be complete in three months or less. All I can say to this probably the “less” part. Basically DON’T BELIEVE IT. They send out the exact same article a month ago. So there is something very “fishy” going on here and this is the evidence)
Elite Forces declare: We are in the “heart” of the city of Mosul
BAGHDAD / .. stressed commander of the second elite forces in the fight against terrorism device Maj. Gen. Maan al-Saadi, on Monday, he control of the security forces on the fourth bridge to the city of Mosul, security forces are in the heart of the city.
Al-Saadi said in a press statement that “anti-terrorism forces seized control of the fourth bridge to the city of Mosul yesterday, and managed to secure the bank of the Tigris River up to two meters per kilo, and that forces are at the heart of the city of Mosul.”
He pointed out that “the pieces of the southern convoy managed to achieve military contact with the district officers after the liberation of the Baath neighborhood.”
The security forces announced inflict Daesh terrorist gangs significant losses during the liberation group of neighborhoods, and access to the outskirts of Mosul University, as well as clearing new neighborhoods in the city.
Deputy: Parliament on the verge of the task and the law of oil and gas in its priorities
Special – balances News
National Alliance MP Abdul Razzaq mheibes, Tuesday, the House of Representatives revealed in front of important legislation, the most important oil and gas law.
He’s mheibes / balances News / “The oil and gas law of the most important laws that must be legislation during the current legislative term to represent the fact that construction of the foundations of the Iraqi economy,” adding that “the differences between the center and the Kurdistan region must be addressed.”
Mheibes He added that “the parliament will work in order to consolidate the principles of societal peace,” pointing out that “national of historic compromise is not a compromise between politicians, it means community reconciliation must take hold of these concepts to the Iraqi society.”
Among mheibes that “Iraq is on the verge of a new phase of construction and needs to corner all the differences and resolve them, and heal the wounds created by the enemies of Iraq for the advancement of the reality of community and brotherhood among all the component of the Iraqi people through the national historic compromise.”
The House of Representatives held its meeting on Tuesday chaired by Salim al-Jubouri, and the presence of 235 deputies and ensure business three paragraphs respective agendas sports clubs Act.
Their words not mine…..No Rumors, No Hype, Just the FACTS!
Much love to ya all,