DINAR GURU UPDATES, 20 SEPT

 Summary

Dinar Guru updates reveal positive developments in Iraqi banking, budget approvals, and expectations for currency value increase.

Highlights

• 🏦 BGG reports a committee is formed to align Iraqi banks with international standards.
• 💵 F dispels rumors about needing to exchange dinar outside Iraq, calling it fearmongering.
• 📊 Jeff notes the operating budget is approved but awaits additional funds for amendments.
• 🗳️ Mark Z believes an RV could occur before elections, with many sources agreeing.
• 📈 Caperon emphasizes that dinar value increase hinges on Iraq’s economic success.
• 🌍 Militia Man highlights government efforts to boost non-oil revenues.
• 💳 Frank discusses the HCL completion phase, indicating a potential new rate for electronic payments .

Key Insights

• 🏦 Iraqi Banking Reforms: The formation of a higher committee signifies a commitment to modernizing the banking sector, aligning with international financial standards, which is crucial for investor confidence.
• 💵 Fear of Exchange Locations: The dismissal of the need to exchange dinar in neighboring countries reflects a growing confidence in local banking solutions and reduces panic among investors.
• 📊  Budget Developments: The approval of the operating budget and the need for amendments indicate ongoing financial adjustments aimed at economic stability and growth in Iraq.
• 🗳️ Potential RV Timing: The anticipation of a currency revaluation (RV) before elections suggests a strategic move that could stabilize the economy and boost public confidence.
• 📈 Economic Growth as Catalyst: The assertion that the dinar’s value will rise with Iraq’s economic success highlights the importance of diversifying revenue streams and developing the private sector.
• 🌍 Focus on Non-Oil Revenues: Government discussions on increasing non-oil revenues illustrate a proactive approach to economic diversification, reducing reliance on oil and enhancing fiscal stability.
• 💳 HCL and Payment Systems: The link between the completion of the HCL and new electronic payment rates underscores a shift towards more modern financial mechanisms, potentially indicating a favorable exchange rate for the dinar.