Kfta – More News, Rumors and Opinions Friday Afternoon 11-17-2023


Clare:  A source for “Al-Iqtisad News”: Private banks and exchange companies express their preparations to reduce the exchange rate

11/16/2023  Baghdad

Today, Thursday, a source revealed moves being made by the private banking sector and exchange companies aimed at raising the value of the dinar against the dollar.

The source, who preferred to remain anonymous, said in an interview with Al-Eqtisad News, “ Private banks and exchange companies are showing great preparations, collectively and in coordination, to reduce the price of the dollar ,” noting that “this will be through expanding engagement with the official market and its high capabilities.”

He added, “There are ongoing meetings to discuss several options that the market will undertake by itself to impose stability in the exchange rate   LINK

Clare:  Parliament holds an extraordinary session tomorrow, and an alliance presents three candidates to succeed Al-Halbousi


The Presidency of the Iraqi Council of Representatives announced on Friday that it had received a request from more than 50 representatives to hold an extraordinary session tomorrow, Saturday, to complete the council’s legislative and oversight tasks.

The Presidency said in a statement received by Shafaq News Agency, that the request to hold this session was based on Article 58 First of the Constitution, which states: First: – The President of the Republic, or the Prime Minister, or the Speaker of the House of Representatives, or a member of the Council, may invite the House of Representatives to An extraordinary session, and the meeting shall be limited to the topics that necessitated its invitation.

Yesterday, Thursday, the representative of the Patriotic Union of Kurdistan bloc, Sarwa Muhammad, suggested that the House of Representatives would vote on amending the law of the Independent High Electoral Commission, at the end of next week, confirming that parliamentary sessions would continue to be held, headed by Mohsen Al-Mandalawi, the First Deputy Speaker of Parliament.

Muhammad told Shafaq News Agency, “After the Federal Court’s decision to terminate the membership of the Speaker of the House of Representatives, Muhammad al-Halbousi, more than 50 signatures were collected to hold an extraordinary session for the first reading to amend the High Electoral Commission law.”

She indicated that “according to the internal regulations of the House of Representatives, the First Vice President of the House presides over the parliamentary sessions, and accordingly, yesterday, Wednesday, a session was held for the first reading of the draft amendment to the Commission Law.”

Muhammad confirmed, “Other sessions will be held next week, headed by First Deputy Mohsen Al-Mandalawi, for the second reading to amend the High Elections Commission law, in addition to reading and voting on a number of laws.”

She pointed out that “after completing the second reading of the amendment to the Commission Law, the House of Representatives will vote at the end of next week on amending the law, which includes extending the work of the Council of Commissioners for a period of six months, after which Parliament will enter the legislative recess.”

She concluded by saying, “The legislative recess of the House of Representatives will pave the way for Sunni parties and blocs to negotiate among themselves and agree on a candidate for the position of Speaker of the House of Representatives.”

In turn, the “Al-Hasam” coalition announced, today, Friday, that it has presented three candidates for the position of Speaker of Parliament, in contrast to the deposed Muhammad Al-Halbousi.

The coalition said in a brief statement that the representative candidates are: Talal Al-Zubaie, Mahmoud Al-Mashhadani, and Salem Al-Issawi. 

The “Hasm” coalition includes all the Sunni forces in the capital, Baghdad, with the exception of the “Taqaddum” coalition led by the deposed Speaker of the House of Representatives, Muhammad al-Halbousi, and the “Azm” coalition led by Khamis al-Khanjar.

The coalition includes 4 Sunni leaders, namely Osama al-Nujaifi, the former speaker of Parliament, the head of the Al-Hal Party, Jamal al-Karbouli, former Finance Minister Rafi’ al-Issawi, Defense Minister Thabet al-Abbasi, and other Sunni political leaders.

On Tuesday, November 14, the Federal Supreme Court decided to terminate the membership of the Speaker of the House of Representatives, Muhammad al-Halbousi, based on a “forgery” lawsuit filed by Representative Laith al-Dulaimi.

Following the issuance of the court’s decision, Al-Halbousi said in a speech during the House of Representatives session, followed by Shafaq News Agency, that “there are those who seek to fragment the political components of society.”

The head of the Federal Supreme Court, the highest judicial authority in Iraq, Jassem Muhammad Abboud, confirmed yesterday, Thursday, that the decision to terminate the membership of the Speaker of the House of Representatives, Muhammad al-Halbousi, is binding on all authorities and is not subject to legal challenge.  LINK


Courtesy of Dinar Guru   https://www.dinarguru.com/

Militia Man If you own this currency and are an investor and you don’t know what you own it’s time to pay attention…because this is all coming to fruition…It’s a beautiful time frame to be a so-called ‘dinarian’…

Mnt Goat  It seemed my contact in the CBI was bragging about the final steps and paperwork for the full membership of Iraq to the World Trade Organization (WTO) and to look for the official announcement this week or sometime next week. But it is completed.   I asked if Iraq needs an international rate of the dinar in order for full membership. I was told and I quote from my source – “Iraq needed a tradable international currency”. I asked if this means liberated back on FOREX trading and was told YES!  So, We are VERY close! These two events are converging (WTO and Reinstatement).

Dropping the dollar for sure

Nader:  11-17-2023


Important Updates! CRUDE OIL IS IN “CONTANGO.” What This Means For Crude Moving Forward.

Greg  Mannarino:  11-17-2023