“RI may Begin in Full Force” – Thurs. PM KTFA Thoughts, News w/ MilitiaMan 8-25-22



Samson » August 25th, 2022


MilitiaMan » August 25th, 2022

Thank you Samson!! The education continues.. imo ~ MM

History of the Iraqi Dinar

24th August, 2022

When Iraq was part of the Ottoman Empire, a number of European currencies were in circulation alongside the Ottoman lira. After the British mandate after World War I, Iraq merged with the Indian monetary system run by the British and the rupee became the major currency in circulation at the price of dinar = 13.33 rupees.


In 1931, the Iraqi Currency Council was established in London for the purposes of issuing banknotes and keeping a reserve of the new dinar currency. Currency board, a conservative monetary policy concluded by holding extremely high reserves as a cover for the dinar. The strength of the dinar has been strengthened by its tie to the British pound, where it was tied at the equivalent price with the British pound until 1959.

In 1947, the National Bank of Iraq was founded, a government bank and abolished the Currency Council in 1949, which was founded in London, when the new bank was handed over the responsibility of issuing banknotes and retaining the reserve. The Iraqi National Bank continued to follow the reserve monetary policy and retained 100% of the reserves as a cover for the existing local currency.

During the recent years of Ottoman rule, the commercial exchange became an important player in foreign trade during the British mandate. British banks have dominated, but traditional cash agents have continued to grant some local credit and offer limited banking services.

Banking expansion may have stumbled by limited use of cash, smaller economy size and savings as banks offered services almost exclusively to foreign trade. In the mid-thirties, the Iraqi government decided to create banks to provide credit to other sectors of the economy. In 1936 the government established the Agricultural and Industrial Bank. In 1940, the bank was divided into the agricultural bank and the industrial bank and the capital provided by the government each increased significantly.

The government established Rafidine Bank in 1941 to be the main commercial bank with the central bank, but the Iraqi National Bank became the government bank in 1947. The real estate bank was founded in 1948 and its main purpose was to finance the purchase of the role by individuals, the Mortgage Bank was founded in 1951 and the Co-operative Bank in 1956. In addition to these government banks, branches for foreign banks and private Iraqi banks have been opened as a result of the expansion of the economy.


In 1956, the National Bank of Iraq became the Central Bank of Iraq. His responsibilities included issuing and managing currency, oversight of foreign currency transactions, supervision and monitoring of the banking system. The bank kept government accounts and worked on managing government loans. Over the years, the legislation has lost the authority of the Central Bank. In 1959, the currency was linking from the British pound to the US dollar and the dinar = 2.8 dollars.

On July 14, 1964, all banks and insurance companies ruled and strengthened banking during the second decade. Following the depreciation of the dollar in 1971 and 1973, the value of the Iraqi dinar rose to $3,3778 per dinar.

By 1987, the banking system was composed of the Central Bank of Iraq, the Bank of Mesophants, the Agricultural Bank, the Industrial Bank, and the Real Estate Bank. A 5% reduction in the value of the dinar led to its value falling to $ 3,2169, the official price that lasted until the Gulf War although in late 1989 the black market price recorded 1.86 dinar per dollar.

» (2003-1990)

After the Gulf War of 1991 and due to the imposition of economic siege, Swiss printing technology was no longer used as before, a new issue of poor quality banknotes emerged. The previous edition of the Swiss edition became known and it continues to be circulated in the Iraqi Kurdistan region. Due to the excessive government printing of new securities, the value of the dinar decreased rapidly to 3000 dinars per dollar in late 1995.

» (2003-Today)

Following the removal of Saddam Hussein when he invaded Iraq in 2003, the Council of Judiciary and the Office of Ages and Humanitarian Aid began printing more Saddam Hussein banknotes as a temporary alternative to maintain the cash offer until the new currency is introduced.

The Banking Law was issued on September 19, 2003, which made Iraq’s legal framework in the field of banking consistent with international standards and the law seeks to strengthen confidence in the banking system by creating an open, secure, sound and competitive banking system.

Between October 15, 2003 and January 15, 2004 the Provisional Coalition Authority issued a new Iraqi currency, metal and paper, where it printed banknotes using anti-counterfeit technologies in order to create a single currency used throughout Iraq and make money suitable More for use in daily life of the public The old banknotes have been replaced by new banknotes and the price of one old dinar is equal to one new dinar except the Swiss dinar which was replaced by the old Swiss dinar is equaling to the new 150 dinars.

The Central Bank of Iraq was established as an independent Iraqi bank under the Law of the Central Bank of Iraq issued on March 6, 2004, and the bank is responsible for:

– Maintaining prices stable

– Implementing monetary policy (including exchange rate policies)

– Management of foreign reserves

– Issuing and Management of Currency

– Organizing the banking sector to promote a competitive and stable financial system

The main headquarters of the bank is located in #Baghdad and it has four branches in (#Basra, #Mosul, #Sulaymaniyah, #Erbil)   LINK

The unified card reaches Iraqis abroad

08/25/2022 07:51:39

The Directorate of Unified Card Affairs in the Ministry of Interior will soon start opening new issuance offices for residents outside the country.

The directorate recently obtained the required approvals to secure five million unified cards within the 1/12 exchange mechanism to ensure the continuation of the printing process.

The Assistant Director-General of the Unified National Card Affairs, Brigadier General Muhammad Sadiq, said, “The opening of offices abroad comes with the aim of facilitating their issuance and facilitating the procedures for registering residents within the project, in addition to establishing a database that includes adequate information for citizens to be approved within the e-government project.”

The Directorate of Unified Card Affairs announced on August 17 that the process of issuing cards to citizens will return to normal during the coming period after securing five million copies of them. Citizens recently complained about the delay in issuing the unified cards for up to months, especially after completing the procedures for obtaining them.


What do we have here? They are issuing cards outside the country? Would that because  they have taken care of everyone or at least real close at home?

Satellite banks around the world would need to be up to date on any new mechanisms coming out..imo Add in the past education and more even today.. Looks promising..

Even if the political side looks to be in an emergency situation..  Which if does get to the emergency powers state then the RI may began in full force.. We shall see. imo. ~ MM

Samson » August 25th, 2022

The Federal Court sets August 30 as the date for hearing the case for dissolving Parliament

25th August, 2022

The Federal Supreme Court has set 08/25/2022, the 30th of August, as the date to consider the case submitted to dissolve Parliament.

The Secretary-General of the Sadrist bloc had filed a lawsuit to dissolve the House of Representatives for its fifth session, and to oblige the President of the Republic to set a date for the legislative elections in accordance with the provisions of Article 64/second of the constitution.

This lawsuit is accompanied by several other lawsuits filed by people against the prime ministers, parliament and the republic, asking them to dissolve the parliament.

On August 23, 2022, Saleh Muhammad al-Iraqi, Minister of Sadr, directed the demonstrators in front of the Supreme Judicial Council to withdraw while keeping the tents.   LINK


MilitiaMan » August 25th, 2022

There we go. They again stick to the 08/30/22 date for dissolution.. I wonder if the UN pressure gives it support and global legitimacy that they can do it and move forward with reforms.. We shall see..  ~ MM

Source: Dinar Recaps

Samson » August 25th, 2022

Wasit Governor announces the launch of projects listed in the emergency support law

25th August, 2022

Today, Thursday, the Governor of Wasit, Muhammad Al-Mayahi, announced the launch of the projects listed in the Emergency Support Law for Food Security and Development.

Al-Mayahi said in a statement issued by his office, received by the Iraqi News Agency (INA): “We announce, with God’s blessing, the launch of the first batch of projects that were included in the budget of the Emergency Support Law for Food Security and Development, after we completed the listing requirements in accordance with the directives and instructions of the Ministry of Planning.”

He added, “The governorate hereby announces these projects to companies to apply for them in accordance with the established legal contexts and mechanisms, and we call on the sober companies that have succeeded in implementing projects in Wasit to submit and compete for the announced projects with high transparency, and without any compliments.”

He pointed out that “the new projects are capable of greatly improving the service reality, and making a qualitative leap at the construction level in the province.”  LIN 

Legal expert: Recent events open the door to international intervention in Iraqi affairs

25th August, 2022

The legal expert, Ali Al-Tamimi, confirmed that the recent events open the door to the intervention of the United Nations in the internal affairs, pointing to the importance of holding an emergency session of Parliament in order to correct the situation.

Al-Tamimi told Al-Maalouma, “The recent events will be a justification for the intervention of the United Nations and the issuance of a Security Council resolution in accordance with Articles 39, 24 and 34 of the UN Charter, because the disruption of constitutional institutions gives the Security Council a justification for intervention in countries, as they are considered countries where a breach of peace and security has occurred. internationals”.

He added, “Parliament must hold an emergency session in accordance with Article 58 of the Constitution at the invitation of the Speaker, or at the request of 50 deputies, or at the invitation of the President of the Republic, as it is an issue related to security.”

And he indicated that “the council, in the event of its convening, takes the steps by which it dissolves itself after a certain period and grants the government the emergency power stipulated in the constitution until early elections are held without condition or restriction because the country is going through a dangerous turning point and allows unwanted international interference.”  LINK

The President of the Republic praises Europe’s efforts to recover Iraq’s smuggled money

25th August, 2022

The President of the Republic, Barham Salih, stressed today, Thursday, that the relationship with the European Union is important, and the need to strengthen it in the areas of combating terrorism, economic and climate cooperation and combating corruption

A statement by his media office stated that “the President of the Republic received at the Peace Palace in Baghdad, the Ambassador of the European Union to Iraq, Phil Variola, to discuss joint relations between Iraq and the European Union, and the importance of strengthening and developing them in various fields. The support provided by the European Union in the political, security and humanitarian fields was also praised.” and economic

He added thatIraq is keen to strengthen cooperation relations with the European Union on many basic issues, especially combating terrorism and extremism, supporting the Iraqi economy, helping to combat corruption and recovering smuggled funds, and supporting efforts to confront the climate change crisis and protect the environment

For his part, Ambassador Variola reiterated the EU’s commitment to “supporting Iraq and seeking to strengthen bilateral relations in various fields, as well as support political stability and promote development in the country  LINK

DoTalkToMe » August 25th, 2022

I  know about the 30 days from the end of July. I don’t know anything about 50 days, or when it started.  Can anyone shed some light on this. Thanks in advance.

Sir » August 25th, 2022

IMO-If you are thinking that it has something to do with the RI, it doesn’t. It’s about manipulating the foreign currency auctions and that’s it.. Removing the corruption!

VenusTwo2 » August 25th, 2022

Iraq election was October 10,2021. October 10,2022 is fast approaching . According to the cc and articles they were given 30 days in August, but was extended to 50 days. We shall see if anything comes of this. They might just drag out some more.

Samson » August 25th, 2022

7 years imprisonment for “Ismail Mosbeh” with the seizure of his money

25th August, 2022

On Thursday, August 25, 2022, the Karkh Criminal Court issued a seven-year prison sentence against the so-called “Ismail Mosbeh Muhammad Habib” for insulting the public authorities and official departments represented by the Supreme Judicial Council and the courts.

The court stated in a document obtained by the obelisk, that “it was decided to sentence the fugitive convict, “Ismail Mosbeh Muhammad Habib,” to a temporary prison sentence of seven years in accordance with the provisions of Article 226 of the amended Penal Code No. 111 of 1969, for the crime of insulting the public authorities and official departments represented by the Judicial Council. The Supreme Court and the courts during a television interview in 2021.”

The court also decided, according to the document, “to issue an arrest warrant against the aforementioned convict in accordance with the provisions of Article 226 of the Penal Code and to notify the competent authorities of its implementation, while supporting the seizure of his movable and immovable property.”  LINK

Economist: Smuggling of hard currency is carried out through private banks

24th August, 2022

The economic expert, Abdul Rahman Al-Mashhadani, confirmed, on Wednesday, that the private banks are the only beneficiaries of the Central Bank’s sales of dollars by smuggling hard currency out of Iraq.

Al-Mashhadani said in an interview with “The Information” that “the Central Bank of Iraq’s daily sale of huge numbers of dollars is very suspicious compared to the volume of Iraqi imports,” stressing that “the only beneficiary from selling such numbers, which amounted to 300 million dollars per day, are the private banks that You benefit 20 cents from the dollar and one.”

He added, “The official import data and numbers that are published do not match the numbers that the Central Bank sells daily,” adding that “the Iraqi economy is in a state of depression now due to the unstable political situation, and also the volatile tourism at the present time.”

According to observers in the economic field and currency exchange, the Central Bank auction to sell currency in its current form serves many banks affiliated with influential parties and gives them important profits with which they can face the interruption of financing, especially since the selling differences are large between the bank and private banks. LINK

Indian and Chinese companies were the largest importers of Iraqi oil last July

25th August, 2022

The Iraqi Oil Marketing Company “SOMO” announced on Thursday that the Indian-Chinese oil companies were the most numerous purchasers of Iraqi oil during the month of July.

“SOMO” stated in a statistic published on its official website and seen by Shafak News Agency, that “Indian and Chinese companies were the most numerous among other international companies in purchasing Iraqi oil, with 7 companies each out of 35 companies that purchased oil during the month of July.” 

She added that “American companies came second with 4 companies, then Italian and South Korean companies came third with 3 companies for each of them, and Russian and Greek companies came fourth with two companies for each one, while the rest were distributed among Spanish, (Dutch-British), Kuwaiti and Jordanian companies. Turkish, Azerbaijani, and Emirati, with one company each.”

Sumo indicated that it “relies in selling Iraqi oil on the main criteria for contracting with major, medium, independent and vertically integrated international oil companies,” noting that “the most prominent international companies that bought Iraqi oil are the Indian Hindustan Company, the Korean Kokaz, the American ExxonMobil, the Dutch British Shell and the Italian Eni.” LINK

Lebanon will be without electricity as of tomorrow.. What is the relationship with Iraq?

25th August, 2022

The Electricity of Lebanon Corporation announced, in a statement, that the corporation’s stocks of “gas-oil” have run out, which will lead to forcibly putting the Zahrani plant out of service on Friday afternoon.

And she said in a statement: “In sympathy with both the statement of the Electricité du Liban on 03/08/2022, and its letter on the side of the General Secretariat of the Council of Ministers and the Ministry of Finance by His Excellency the Minister of Energy and Water No. 2726 dated 03/08/2022, and since the rest of the energy Produced electricity, which is generated only from the Al-Zahrani plant, which is the only plant remaining on the network, as the Deir Ammar plant ran out of gas oil.”

She added: “As the exchange agreement concluded between Iraq and Lebanon, any shipment of oil for the month of August 2022 in favor of the Electricité du Liban (EDL) has not been supplied by the Ministry of Energy and Water – the General Directorate of Oil, and that the Corporation has not yet been informed whether A shipment of Oil would have been supplied to it during the month of September 2022, bearing in mind that the production of electrical energy from the EDL’s factories was recently dependent only on that agreement.

And she continued: “As it is still to date, the actual date for the arrival of electrical energy from Jordan, and the actual date for the start of extracting natural gas from Egypt, has not been determined, pending the securing of the necessary funding for these two projects by the concerned authoriti

And since the Al-Zahrani plant’s storage is from Gas Oil has reached its minimum limit and is about to run out, and in view of this delicate and delicate situation that is beyond the control and responsibility of the entire EDL, EDL reports that the Zahrani plant will be forcibly put out of service on Friday afternoon, 08/26/2022 as a result of the depletion of its reservoir of “Gas Oil”, which will lead to the cessation of energy production on all Lebanese territories, provided that the production plants are restarted as soon as the institution is supplied with fuels as soon as possible.  LINK

Source: Dinar Recaps

Legal expert: Recent events open the door to international intervention in Iraqi affairs  LINK

Sir » August 25th, 2022

IMO-This happened in early February when parliament dissolved itself by not electing the presidents and the Prime Minister. They violated their constitutional law and were no longer a part of the government.

This puts Kazemi in full control of the government and its duties according to the constitution. With the corruption in so many areas of the government and private sectors, Kazemi and his team are doing a remarkable job of bringing the corrupt to justice.

As far as the UN , “forget it” they tend to bring trouble with them every time they get involved. The UN’s house needs cleaning before it can even be credible or even relevant in today’s world. When Kazemi needs help, he has the people of Iraq and they are ready and willing to be of service to Iraq.

Source: Dinar Recaps


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