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Weekend UPDATE for October 10-11, 2020

SATURDAY

SOME BANKERS HAVE BEEN VERY EXCITED TODAY AT WORK…..WAITING FOR THE “GO” SIGNAL!

“NOSE BLEED” RATES ARE BEING COMMUNICATED TO US….SUPPOSEDLY AT THE BANKS DISCRETION? REMEMBER, THE “HIGH” OPENING RATE FOR THE DINAR WAS UP FOR DISCUSSION TO BE REDUCED BUT DIED DUE TO LACK OF CONSENSUS? (A FEW DAYS AGO)

THE TOP MAJOR BANKS, ALONG WITH THE LEAD BANK, HAD A CONFERENCE WITH TREASURY (AND SUPPOSEDLY, MNUCHIN) TO DISCUSS UNDISCLOSED “PARTICULARS” LEADING TO AN ANNOUNCEMENT ON MONDAY. [HMMMMMMM, I WONDER……?]

A MEMBER REPORTS RECEIVING A CALL FROM _____ BANK. THEY INQUIRED ABOUT THEIR CURRENCY AMOUNTS.  AFTER LEARNING THEY DID NOT MEET “WHALE” STATUS, THEY WERE TOLD THEY WOULD HAVE TO WAIT UNTIL TOMORROW, ONLY WHALES ARE PREFERRED TODAY. [HUH? CAN’T WAIT TO HEAR BACK FROM THIS ONE!]

SOME BANKS ARE REPORTEDLY COMING IN ON SUNDAY, AT VERY, VERY EARLY AM HOURS.

NOTE: SUPPOSEDLY IS THE WORD OF CHOICE UNTIL SOLID CONFIRMATIONS COME TO SURFACE. CAPICHE? #WEARETHEPEOPLE

Tishwash:  I’m pretty sure this is saying they are NOT going to DEVALUE the dinar

Parliamentary Finance excludes raising the exchange rate of the dollar in order to compensate for oil losses

Member of the Parliamentary Finance Committee, Jamal Cougar, ruled out the government’s move to raise the exchange rate of the dollar against the dinar in order to compensate for oil losses due to low global prices, pointing out that the Central Bank has a study and control over exchange rates.

Cougar said in a press statement followed by the independent today, Sunday, that “the government to raise the exchange rate of the dollar against the dinar is not possible and excluded, because the central bank has a solid study in this regard.

He added that “the central bank administration does not support the proposal to raise the exchange rate of the dollar at all, and has a set of reasonable reasons and justifications to keep the exchange rate at its natural limits.”

Cougar ruled out that “the government or the central bank in 2021 will choose to raise the exchange rate of the dollar against the dinar.”  link

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Tishwash:  The Central Bank launches the electronic platform for letters of guarantee

Within the framework of its reform measures and in keeping with the developments in the automation of the banking industry, this bank announces the “launch of the electronic platform for letters of guarantee in which the information of letters will be recorded by the authorized banks.” And with different and specific powers, provided that the bank is responsible for the accuracy and correctness of such data.

The beneficiaries of the two sectors (public and private), and after issuing the letter, are required to adopt an electronic registration form obtained from the Central Bank and which this platform will issue, including information on those letters and has various security marks such as the heat stamp and the (barcode) feature, without this bank incurring any financial commitment that results For the bank’s reluctance to pay the value of the letter.

This bank invites the parties benefiting from the letters of guarantee and located inside the capital Baghdad to obtain the information registration form by this bank, and the entities outside the capital Baghdad can obtain the information registration form from the branches of the Central Bank of Iraq (Basra, Mosul, Erbil) and according to the geographical area of each branch, The above mechanism will be actually implemented, starting (the 18th of October 2020).

The Central Bank of Iraq  information Office

October 11, 2020  link

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Tishwash:  Iraq expects the price of oil at $ 45 in the first quarter

Oil Minister Ihsan Abdul-Jabbar said that oil prices are expected to reach about $ 45 in the first quarter of 2021, the official Al-Sabah newspaper reported on Sunday.

The newspaper quoted the minister as saying that Iraq had drawn up a draft of the federal budget for 2021 on the basis of an expected oil price of $ 42 a barrel   link

Tishwash:  Iraq participates in the Dubai Expo 2020

The State Company for Fairs and Iraqi Commercial Services at the Ministry of Trade confirmed, on Sunday, that Iraq will participate in the Dubai Expo, in the United Arab Emirates.

The general manager of the company, Sarmad Taha Saeed, said in a statement, which “Al-Eqtisad News” received a copy of, that “Iraq will participate in the Dubai Expo, in the United Arab Emirates, to be held in the period from October 1, 2021 to March 31, 2022, which was from It will be established in 2020 and postponed for the aforementioned period due to the spread of the Corona pandemic.

The director general of the company explained, “The importance of Iraq’s participation in the World Expo 2020 in Dubai, as it is the first exhibition of its kind to be hosted in the Middle East region, as 190 countries from all over the world have confirmed participation. Expo 2020 also constitutes a major meeting point for the world to exchange innovations, ideas and solutions.” Global issues related to the economy and sustainable developments for a better future at the local and global levels.

He continued, “The display of the Iraq pavilion at Expo 2020 is a great opportunity to highlight the rich culture of Iraq and share it with the whole world, as Iraq is always famous for its rich history, culture and architecture.”

The Director General pointed out, “The exhibition also sheds light on Iraq’s distinguished achievements in the past and present to develop future opportunities in order to move our country forward to be among the developed countries in the world.”   link

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Mot:  Thinking Outside The Box—–Don’t try this in school.

Regarding question 1: Actually Napoleon didn’t die in battle; he died in exile.

A STUDENT WHO OBTAINED 0% ON AN EXAM

This kid will be a success! I would have given him 100%! See all his answers to the questions…

Each answer is absolutely grammatically correct, and funny too. Most people can’t think outside of the box.

This kid OWNS the box!

Q1. In which battle did Napoleon die? * his last battle

Q 2. Where was the Declaration of Independence signed? * at the bottom of the page

Q 3. River Ravi flows in which state? * liquid

Q 4. What is the main reason for divorce? * marriage

Q 5. What is the main reason for failure? * exams

Q 6. What can you never eat for breakfast? * Lunch & dinner

Q 7. What looks like half an apple * The other half

Q 8. If you throw a red stone into the blue sea what will it become? * Wet

Q 9. How can a man go eight days without sleeping ? * No problem, he sleeps at night

Q10. How can you lift an elephant with one hand? * You will never find an elephant that has one hand

Q11. If you had three apples and four oranges in one hand and four apples and three oranges in other hand, what would you have? * Very large hands

Q12. If it took eight men ten hours to build a wall, how long would it take four men to build it? * No time at all, the wall is already built

Q13. How can u drop a raw egg onto a concrete floor without cracking it? *Any way you want, concrete floors are very hard to crack

Spread some laughter, share the cheer,
Let’s be happy, while we’re here!