TNT – “Tidbits From TNT” Thursday 12-14-2023

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Tishwash:  Dubai is hosting a meeting of delegations from the Iraqi Central Bank, the Federal Reserve, and the US Treasury

Today, Thursday (December 14, 2023), the Central Bank of Iraq announced the end of its meetings with the delegation of the Federal Reserve and the US Department of the Treasury in Dubai.

The bank’s media office stated in a statement received by “Baghdad Al-Youm”, that “the delegation of the Central Bank of Iraq concluded its meetings with the delegation of the US Federal Reserve and the US Treasury Department in Dubai.”

He added, “Representatives of the US Federal Reserve and the US Treasury appreciated the efforts made by the Central Bank of Iraq during the year 2023 to achieve compliance with the Iraqi banking system.”

He pointed out that “the meetings resulted in a number of agreements related to supporting the policies of the Central Bank of Iraq in its orientation to support Iraqi banks in establishing relationships with correspondent banks and the gradual transition of operations to enhance the advance balance of the accounts of these banks, and this is consistent with what the Central Bank of Iraq previously announced in its plan to gradually reduce From relying on the electronic platform to ending its work within the next year and limiting it to recording financial transfers for the purposes of control, auditing and analysis.”

According to the statement, the Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that “the Central Bank is determined to support Iraqi banks, enhance their capabilities and prepare them to work in accordance with international practices,” while the statement explained that “it was agreed and approved by the above authorities to meet the requests of the Central Bank of Iraq for cash shipments for the year 2024″.

He pointed out that “the meetings witnessed a number of understandings that aim to build the capabilities of Iraqi banks and enhance their compliance with international standards.”  link

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CandyKisses:  IMF selects Saudi Arabia to chair monetary affairs committee

Baghdad Today – Follow-up

Today, Thursday (December 14, 2023), the International Monetary Fund (IMF) announced the selection of the Kingdom of Saudi Arabia to chair the International Monetary and Finance Committee, noting that Saudi Finance Minister Mohammed Al-Jadaan will be Chairman of the Committee .

The Committee is working to provide support to the IMF Board of Governors in the area of oversight of the global monetary and financial system, including measures to address events that may cause disruptions to the system.

The Saudi Press Agency quoted Saudi Finance Minister Mohammed Al-Jadaan as saying that “the selection of Saudi Arabia to chair the International Monetary and Financial Committee for the period 2024-2027 reflects confidence in its leadership position globally and regionally and its pivotal role in strengthening “multilateral international action.”

The International Monetary and Financial Committee discusses issues related to promoting the growth and stability of the global economy, ensuring global financial stability, and a key platform for providing strategic direction for the work and policies of the IMF.

The 24-member committee is composed of finance ministers and central bank governors and bases its work and decision-making mechanism on consensus, including the selection of its chairman, and meets twice a year, as well as meetings of the International Monetary Fund and the World Bank Group.

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Tishwash:  Iraq announces the arrest of those involved in the attack on the American embassy in central Baghdad

Special Forces Major General Yahya Rasul Abdullah, spokesman for the Commander-in-Chief of the Armed Forces, announced on Thursday the arrest of some of those involved in the missile attack that targeted the American embassy and the Iraqi National Security Service building in the center of the capital, Baghdad, indicating that some of them are connected to the security services.

Major General Abdullah said in a statement today that the attack that occurred on December 7, 2023, which targeted the Embassy of the United States of America, the headquarters of the National Security Service, and some government buildings, is an attack on the security and sovereignty of Iraq.

He stressed that such attacks cannot be tolerated or tolerated. Because of the serious threat it represents to the country’s security and stability, the damage it causes to Iraq’s reputation and dignity, and the questioning of its credibility as a sovereign state capable of fulfilling its international obligations and ensuring the safety of its citizens and residents, especially diplomatic missions.

Major General Abdullah also confirmed that the security services began investigating the incident to find the perpetrators and bring them to justice, under the direct guidance of the Commander-in-Chief of the Armed Forces, Prime Minister Muhammad Shiaa Al-Sudani.

He added, “Our security services, after extensive technical and intelligence efforts, were able to identify the perpetrators, as preliminary information showed that some of them, unfortunately, are connected to some security services, and after the judicial authorities issued investigation and arrest orders against them,” pointing out that “the security services… The security forces arrested a number of them, and search and investigation efforts are still continuing to reach everyone who contributed to this attack. The hand of justice will reach them so that they may appear before the competent courts and receive their just punishment in accordance with the law.

The military spokesman for Al-Sudani noted that “the competent authorities had previously succeeded in finding those who helped the perpetrators and provided them with logistical support to reach the implementation area and evacuate them from it, and they were detained in order to take legal measures against them.”

He continued by saying that “Iraq overcoming security challenges, completing the construction of its constitutional institutions and consolidating sovereignty and stability is an achievement that has passed through a path paved by the sacrifices of our people and our armed forces, in all their forms, and it is a fruit that cannot be neglected in the face of all threats,” stressing that “there is no alternative to extending security.” “Iraq is on the verge of a long-awaited urban and service renaissance, and such attacks only harm the interests of Iraq and its people.”  link