"Ancient History" - Wed. PM KTFA Thoughts, News w/ Frank26, DELTA 1/23/19

by **Ssmith** Thu Jan 24, 2019 8:42 am

KTFA

JJonesmx » January 23rd, 2019

3 January 2019 Iraqi customs duties and import taxes to be enforced

The Iraqi customs authorities have announced that, effective 1 January 2019, they will start enforcing the levy and collection of customs duties and import taxes that are applicable to goods imported by state departments, the public sector, the mixed sector, civil organizations, and private parties. Link

Hammy14 » January 23rd, 2019

Hmmmm, effective January 1, 2019, they will start enforcing the levy and collection of customs duties and import taxes that are applicable.... but, how can this be at a program rate? How can the citizens afford to pay a tax on goods and services when their money is practically worthless to begin with? Apparently, this is happening and apparently it can be done at a program rate. I don't understand it, but there you have it. I wonder how many more things they will continue to do at a program rate? It just doesn't make sense, IMO.

DELTA » January 23rd, 2019

CITIZENS WILL NOT SEE THE CHANGE ON PRICES RIGHT AWAY IT WILL TAKE AT LEAST A MONTH OR SO TO REFLECT THE INCREASE ON THE MARKET.... BY THEN IT WILL BE A HISTORY (wink) imo

Frank26 » January 23rd, 2019

ANCIENT HISTORY ......................(wink)

TPNoble53 » January 23rd, 2019

Great post JJ...Frank I assure you we are not passing over this article of Taxes & Tariffs being officially implemented. This is HUGE for the RI / RV to happen IMO !

Frank26 » January 23rd, 2019

DELTA AND I TOLD YOU MUCH ABOUT THIS........... 3 CC'S AGO. SO IMO ....... NEXT M CC............ THEN NO M CC THE FOLLOWING WILL BE ................... WELL TIMED.

MilitiaMan » January 23rd, 2019

For those that missed the MCC, might want to check it out the amount of data in it is massive and news that is coming out from over the last week should have everyone going omg, it is happening before our eyes!

Samson » January 23rd, 2019

The Central Bank reveals an agreement to approve the budget LINK

Frank26 » January 23rd, 2019

NOT THEIR JOB ...................lol................. BUT OK..............(wink) ........... THINK KONA.

Toyvp » January 23rd, 2019

YOU KNOW WHAT THIS SOUNDS LIKE TO ME IS PRESSURE AND WHAT HAPPENS WHEN PRESSURE IS APPLIED TO A LUMP OF COAL?.... RHIANNA SAID IT BEST "SHINES BRIGHT LIKE A DIAMOND"

Frank26 » January 23rd, 2019

KTFA KONA : THIS IS FROM PREMIUM TEAM CHAT ............ IT WAS JUST POSTED BY GATEKEEPERATHOPE.PLEASE ENJOY. PS ............ TOLD YOU ............. THEY KNOW !!! ......... AND SO DO YOU

GateKeeperatHope » January 23rd, 2019

Good morning everyone! Just wanted to share my encounter last night. I was working at the airport and a young man came to pick up his father.

He shared that his father had been working in Iraq and was coming home. He also shared that he had lived and worked in Baghdad for two years for the same company as his father.

We began to talk and I asked him several things about living there, the people, the economy, etc. He shared that he avoided political discussions with citizens because it stirred them up.

I told him I knew their MR would lead to a RI in their currency and asked if the citizens were talking about it. He said they knew.

About that time his father came through the checkpoint and he left. But it was interesting and fun to speak with someone who has been there and knows some of what is happening in Iraq.

Samson » January 23rd, 2019

Oil rises on hopes of China's fiscal stimulus

23rd January, 2019

Oil prices rose on Wednesday after China said it would increase spending to curb the economic slowdown that is putting pressure on financial markets

Brent crude was $ 61.85 a barrel in futures contracts at 0624 GMT, up 35 cents, up 0.6 percent from the previous close

US West Texas Intermediate crude futures rose 25 cents, or 0.5 percent, to $ 53.26 a barrel
The price rise came after a 2 percent drop in crude futures and a drop in global financial markets on Tuesday as concerns about global growth prompted investors to turn to safe assets such as government bonds or gold

China's Finance Ministry said on Wednesday the government would boost fiscal spending this year to support the economy, which last year registered the lowest growth rate since 1990

The Bank of Japan said it would maintain its tight monetary policy, which has been in place since 2013 LINK

The former Baghdad mayor was sentenced to more than $ 12 million in damages

2019/1/23 12:30

The Department of Investigation in the Integrity Commission announced that the Criminal Court on Integrity Issues in Baghdad, sentenced in absentia to seven years in prison, against both the Secretary of Baghdad and the Director General of the Department of Parks in the former {Secretariat of Baghdad}, causing them to cause damage more than 12 million US dollars with the funds and interests of the entity in which they were working.

The Department, in its discussion of the details of the case, that the convicted fugitives, they agreed and participate in damage to the funds and interests of the Secretariat of Baghdad during the contract on the development of the Army channel, indicating that it was contracted with an Egyptian company and local, based on the decision of the main committee to contract in the Secretariat without preparation The estimated costs of the project, and the amount of damage amounted to (12,165,350) million US dollars.

The Court, after reviewing the evidence obtained in this case represented by the legal representatives of the General Secretariat of the Council of Ministers and the Secretariat of Baghdad, who requested the complaint against the accused, in addition to the administrative investigation including their review and referral to the judiciary, and the report of the Office of Financial Supervision and the statements of witnesses and the presumption of escape of the accused, Sufficient and convincing to convict them in accordance with the provisions of Article 340 of the Penal Code in terms of Articles 47, 48 and 49 thereof.

The decision included issuing an arrest warrant, carrying out a fundamental search of the accused and supporting the seizure of their movable and immovable property, while maintaining the right to seek compensation before the civil courts after the decision of the judgment was obtained. LINK

Al Nusairi: Central Bank proposes new banking products to support bank profitability and achieve financial coverage for 2019

23rd January, 2019

The Central Bank of Iraq (CBE), the economic and banking advisor to the Association of Iraqi Private Banks, said on Wednesday that the Central Bank is proposing new banking products to support the profitability of banks and achieve financial coverage for 2019. He pointed out that the bank has worked in the past two years with deliberate steps, Arabic and foreign.

Al Nusairi said in an interview with "Economy News" to "confirm the policies of the Central Bank to activate the banking activity and support the profitability of banks and achieve the strategy of financial inclusion by providing the widest spread of new banking services and products proposed by the Central Bank and in line with the provisions of the Banking Law 94 of 2004 and structural and structural developments

And the training and qualification of banking cadres achieved during the years 2017 and 2018, which will help the banking departments to activate the new banking products proposed so the central bank has set up a specialized meeting in the presence of leaders in the Central Bank and banks Association of Banks in order to develop operational mechanisms and procedures for the direct release of these products and direct support effective and assigning the central bank for the purpose of helping banks to overcome the decline in revenue."

He added that "the bank is working to revitalize the economic cycle by moving the real banking activity and not rely on the window selling foreign currency after the decline of Makan provides the banks a daily profit before the stability of the exchange rate, one of the objectives of monetary policy, which was achieved in 2018.

"Central in 2019 new visions for monetary policy applications for the purpose of achieving the objectives of monetary policy based on transparency and disclosure and the application of international standards and confidence in banking transactions between banks and cooperation in the implementation of instructions and decisions issued by the higher authorities, In line with the spirit and contents of the decisions and to enhance the continued provision of banking products and services to customers and the continued efforts of the extraordinary Association of Banks and Banks to improve the reputation of banking institutions and international financial organizations and correspondent banks.

The Central Bank has worked during the past two years with deliberate and sequential steps and coordinated with the concerned international bodies and building strong relations with Arab and foreign central banks as well as the Association of Banks to move across the Arab and foreign countries to clarify the bright points of the Iraqi banking sector and developments during the past three years and in coordination with the Central Bank The procedural, regulatory and structural policies were drawn up and issued a strategy for the years (2016-2020).

The objectives were to achieve financial stability and to develop the banking system technically, structurally and organizationally, Realization of financial comprehension, where he prepared and laid the foundations of the financial and technical appropriate to the reality of the Iraqi economy and banking mechanisms, which formed a solid base on the scale of the home and abroad, which led to the transfer of the state of the Iraqi economy in its core and most prominent banking sector to a good ranking according to the classifications of the Financial Action Group and organizations and institutions

He added that all this led the Central Bank to plan for a new phase in 2019 and 2020, the last two years of its strategy based on the following pillars: -

1 - working and dealing with banks new mechanisms to lift the pressures of specific instructions and give them flexibility and facilities and many more to add products And achieve the central objectives in development and economic and banking reform and the adoption of transparency and disclosure.

2 - Dealing with banks based on the introduction of new and high-level banking products and services and restore the confidence of the public in the banking sector in addition to the results of its business and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on their actual contribution to GDP and its contribution to sustainable development and its transition from the role of exchange to Development role.

3- Dealing with banks according to their classification criteria approved by the Central Bank according to international standard standards. And try to qualify weak and troubled banks and return the map of the banking market, creating a balance between the need of the economy to contribute banking finance in sustainable development and the level of new banking products and services provided. LINK