There seems to be some confusion...when it comes to the delete the zeros program. Value of the Iraqi dinar starts in country by government policies, CBI reserves, oil production, investments by the Iraqi government, output of the economy, and so on. Value is currently represented by the three zeros printed on the currency. An exchange is a ratio of two currencies which is used outside the borders of a country. Therefore, when value is added to the Iraqi dinar first by the CBI in country the three zero notes will be physically removed from circulation. In their place the CBI will release the lower notes with added value...Lastly, the exchange rate of the Iraqi dinar compared to other currencies will reflect the added value to the Iraqi dinar. So, it is not about the zeros coming off the exchange but the three zero notes being no longer used...
The Prime Minister, Mohammed Shia Al-Sudani, stressed on Wednesday the importance of integration between the Kurdistan region of Iraq and the rest of the provinces in the development of national industry.
The Prime Minister’s Information Office, in a statement received by “Economy News”, said that “Al-Sudani chaired the first meeting of the Industrial Coordination Council,” stressing that “this Council is concerned with the development of industry and taking decisions that will improve the industrial reality, as well as is responsible for addressing all obstacles facing Iraqi industry.”
Al-Sudani pointed out that “the meetings should be based on priorities presented by a support committee of general managers concerned with the industrial aspect in the relevant ministries, and directed the hosting of officials of bodies and entities related to the development of industry.”
Al-Sudani stressed “the importance of integration between the Kurdistan region of Iraq and the rest of the governorates in the development of the national industry, and indicated that the major markets that will be activated by the Ministry of Commerce, in partnership with the private sector, will be a place to display local industrial products, noting the progress made in the field of localizing the pharmaceutical industry and localizing the localization of construction industries.”
The Prime Minister explained that “the government has, since the beginning of its work, diagnosed the problems related to Iraqi industry, and launched promising partnerships with the private sector to activate the local industry, in addition to important partnerships with major industrial countries such as Japan, Germany, France and others, by covering these activities with sovereign guarantees.”
The meeting discussed “a number of working papers submitted by the Ministries of Electricity and Industry, and a number of advisers to the Presidency of the Council of Ministers on industrial development,” according to the statement.
The Council also considered “a number of topics on its agenda, including with regard to cooperation between the private sector and the ministries of electricity, industry and minerals; to meet the requirements of the two ministries, as well as in the field of encouraging the governorates to employ solar energy systems, in expanding consumer protection applications, activating joint committees in the industrial side with friendly industrial countries, and stimulating international companies to cooperate with the national industrial sector.”
The statement from Prime Minister Mohammed Shia Al-Sudani emphasizes the critical role of integrating the Kurdistan region with the rest of Iraq in advancing national industry. Here’s a summary of the key points:
Industrial Coordination Council: Al-Sudani chaired the inaugural meeting of this council, which aims to enhance industrial development and address obstacles facing the Iraqi industry.
Integration of Regions: He highlighted the need for seamless cooperation between the Kurdistan region and other provinces to boost the national industry.
Market Activation: Plans are in place to activate major markets in partnership with the private sector to showcase local industrial products. This includes advancements in localizing the pharmaceutical and construction industries.
International Partnerships: The government has been actively forming partnerships with major industrial countries such as Japan, Germany, and France, supported by sovereign guarantees to enhance local industry.
Agenda and Discussion Points: The meeting covered various topics, including cooperation between the private sector and ministries, promoting solar energy systems, enhancing consumer protection, and encouraging collaboration with international companies.
For the latest updates, follow the provided Telegram link or visit the Economy News website.
[Iraq former government/UN employee friend Imad from Basra update]
Question: "Will the three zeros be deleted?"
Yes sir, they will be deleted soon...realistic it's not going to happen next week or next month. It's not...you have to hang on and wait a little bit.
NADER: I say from here to December...Is it going to happen before the election?
IMAD: No. Let's wait and see. NO...It's not in the near future...To move these three zeros takes a lot of work...corruption...a lot of things have to straighten up a little bit.
An economist revealed the rise in the deposits of Iraqi commercial banks to reach the barrier of 130 trillion dinars.
Manar Al-Obeidi said in a statement that received a copy of it by {Euphrat News} that “the deposits with Iraqi commercial banks increased in June 2024 to reach 129.88 trillion dinars, higher with an annual growth rate of 3.74% and a monthly growth rate of 1.43%.” He added, “Current deposits, which represent by about 80% of deposits, increased by an annual growth rate of 6.68% and a monthly growth rate of 1.67% to reach 104.55 trillion Iraqi dinars, while savings deposits, which represent 12.74% of the monthly growth rate increased by 0.9%, but they decreased on an annual basis and a decrease of 4% to reach a total value of 16.2 trillion dinars.” Al-Obeidi continued, “As for fixed deposits, which represent 7% of the total deposits, decreased on a monthly basis by 0.29% and on a year-year basis of 11.84% to reach 9.13 trillion dinars.” He pointed out, “As for the sources of deposits, the private sector deposits occupied the highest percentage by 43% of total deposits with a total value of 55.89 trillion Iraqi dinars and increased on an annual and monthly basis by 2.38% and 1.54%.” He pointed out that “central government deposits, which represent 34.3% of the total value of deposits, increased by 5.49% on a monthly basis and 10.85% on an annual basis and a total value of 44.63 trillion Iraqi dinars.”
He explained, “The deposits of public institutions, which represent 22.6% of the total value of deposits, recorded a decrease in the monthly growth rate of 4.33% and a decrease in the annual growth rate of 3.38% and a total value of 29.36 trillion dinars.”
According to recent data, deposits in Iraqi commercial banks have seen a notable increase, reaching approximately 130 trillion dinars by June 2024. This represents a 3.74% annual growth rate and a 1.43% monthly growth rate. Here's a detailed breakdown:
Current Deposits:
Value: 104.55 trillion dinars
Share: About 80% of total deposits
Annual Growth: 6.68%
Monthly Growth: 1.67%
Savings Deposits:
Value: 16.2 trillion dinars
Share: 12.74% of total deposits
Annual Growth: Decreased by 4%
Monthly Growth: Increased by 0.9%
Fixed Deposits:
Value: 9.13 trillion dinars
Share: 7% of total deposits
Annual Growth
: Decreased by 11.84%
Monthly Growth: Decreased by 0.29%
Sources of Deposits:
Private Sector:
Value: 55.89 trillion dinars
Share: 43% of total deposits
Annual Growth: 2.38%
Monthly Growth: 1.54%
Central Government:
Value: 44.63 trillion dinars
Share: 34.3% of total deposits
Annual Growth: 10.85%
Monthly Growth: 5.49%
Public Institutions:
Value: 29.36 trillion dinars
Share: 22.6% of total deposits
Annual Growth: Decreased by 3.38%
Monthly Growth: Decreased by 4.33%
These figures indicate a robust growth in the overall deposit base, with varying trends across different deposit types and sources.
Mon. 12 Aug. 2024 Foreign Currency Exchange and Zim Bond Redemption…Q Storm 1776 through John F. Kennedy on Telegram:
Bond funds delivered to paymasters coming in so fast that everyone was in awe from the amount.
Private appointments are being made now.
Get your plans/projects together and don’t wait around for this to happen without being ready.
No straight cash will be given
You are in charge of your funds and can place funds in different accounts
Advisers will be there to assist you with your funds and will help guide you in your projects or choosing one on the list.
Everything is going well, still some that do not want this to happen, but all is safe.
You can take to your appointment: advisors/bank contacts (if you have already spoken to a specific person)/ friend/any person/s you want to assist you
Zim Cap information is changing daily but as of now they are paying as follows: No Projects = $15 million no matter amount you might hold With Projects = First two bond notes are 1 to 1, after this $25 million (per 100T) up to 30 bond notes. To negotiate further, you will need to return.
Safe link 800# will be released closer to go date.
Rates are EXTREMELY high.
We are almost at the end of the road.
All intel is saying “Next Week.”
A trusted military intelligence contact confirmed that GCRLiquidity releasebegan at exactly 3:00 PM PDT on Wed. 7 Aug. 2024 and would unfold over the next 72 hours. “The Sovereign Committee and US federal government have just approved T4A and B payments – this has started Reno, Miami, and other East Coast states.”
Sources said the delays in setting Tier4b appointments (which were to be made starting Sat. 10 Aug. – didn’t happen.) were from making sure the QFS systemand all the test clients were done perfectly so they can see their funds in their accounts (or hold SKRs) but would not be able to use these funds until the shotgun start has started.
The new currency rates were traded on the Forex till Sunday 11 Aug. at 5pm.
Over 1500 Farm Claims have been paid out.
Prosperity Packages National Guard deliveries started on Fri. 9 Aug.
Mid-September was anticipated to be a period of substantial activity of significant financial movement.
The President of the Republic receives a message from his Chinese counterpart
President of the Republic, Abdul Latif Jamal Rashid, received today, Tuesday, at the Baghdad Palace, the Ambassador of the People's Republic of China to Iraq, Cui Wei, and received from him a message from Chinese President Xi Jinping, congratulating him on his birthday, wishing him success and guidance.
The Chinese President also stressed, according to a presidential statement, his great interest in developing relations with Iraq and his readiness to make joint efforts with President Rashid to continue deepening friendly cooperation and raise the Sino-Iraqi strategic partnership relations to higher levels.
The President of the Republic conveyed his sincere thanks and greetings to President Jinping for his generous feelings, praising the historical relations and bilateral cooperation between the two friendly countries.
During the meeting, the available potential to consolidate the growing relations between the two countries was emphasized, as President Rashid pointed to the need to expand the horizons of joint cooperation in the economic, technological and investment fields, especially the development of infrastructure and services, stressing Iraq's welcome of the diverse Chinese expertise to contribute to the development and growth of the industrial, agricultural and education sectors.
In turn, the Chinese Ambassador, Cui Wei, affirmed his country's commitment to strengthening its relations with Iraq in all fields.
The ambassador also reviewed the political, economic and industrial conditions in China, stressing that the recently held Communist Party meeting focused on strengthening reforms, improving production in all fields and opening up to countries of the world.
Media Department of the Presidency of the Republic link
ANALYSIS
The President of the Republic of Iraq, Abdul Latif Jamal Rashid, received a message from Chinese President Xi Jinping through Chinese Ambassador Cui Wei on Tuesday at the Baghdad Palace. President Jinping's message congratulated President Rashid on his birthday and expressed his best wishes for his success and guidance.
In the message, President Jinping highlighted his commitment to enhancing Sino-Iraqi relations and offered to collaborate closely with President Rashid to further deepen the strategic partnership between the two nations.
President Rashid expressed his gratitude for President Jinping’s kind words and praised the longstanding relationship and bilateral cooperation between Iraq and China.
During their meeting, President Rashid emphasized the importance of expanding cooperation in various fields, including economic, technological, and investment areas. He particularly noted the potential for Chinese expertise to contribute to Iraq's development in infrastructure, industry, agriculture, and education.
Ambassador Cui Wei reiterated China's commitment to strengthening relations with Iraq and provided an update on China's political, economic, and industrial conditions. He highlighted recent reforms and efforts by the Communist Party to improve production and enhance global openness.
For further details, you can visit the Media Department of the Presidency of the Republic's link.
🇺🇸💥🇺🇸. Thankfully the Treasury Department has taken over the federal reserve and their building is boarded up in D.C. 🇺🇸💥🇺🇸👇👇
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The U.S. military will permanently leave Iraq after 20 years — starting next month! 🚨👀🚨
This is BIG NEWS! Along with the Governor of the Iraqi Central Bank resigns. Trump stated that before leaving Iraq, we would be paid back in full. Revaluation for the Iraqi Dinar would not start until the U.S. military leaves the country. We are closer than ever with the world currencies being revalued!
End of US Military Presence in Iraq to Be Declared Soon
Iraq signs strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company
The Iraq Stock Exchange announced today, Wednesday, the signing of a strategic agreement to modernize trading mechanisms in cooperation with an Egyptian company.
A statement by the Iraqi Stock Exchange received by the Iraqi News Agency (INA) stated, "In a step aimed at developing and improving the investment environment in Iraq, and under the auspices of the Iraqi Securities Commission, the Iraq Stock Exchange signed a cooperation agreement with the Egyptian Company for Information Dissemination, after intensive discussions that lasted for more than six months."
He added, "The agreement includes licensing, use and maintenance of the remote trading system for investors ( OMS ), broker management ( Back Office ), and portfolio management for investors, for a period of five years."
He added that "signing this agreement represents a qualitative shift in the development of the Iraqi stock market," indicating that "Iraq is committed to providing the latest technologies to investors, which contributes to enhancing confidence and attracting more investments to the Iraqi market."
For his part, the CEO of the Iraq Stock Exchange, Faisal Al-Haimus, pointed out, “The importance of this step, as the remote trading system is a vital addition to our ongoing efforts towards developing the market’s infrastructure. The system’s experience in the Egyptian Stock Exchange has proven its efficiency over the past five years, and we are excited to see its positive impact on our market.”
He pointed out that "the new system includes smart applications that aim to facilitate trading operations and improve the investor experience, which reflects the commitment of the parties concerned to developing the financial sector in Iraq and achieving sustainable growth." link
ANALYSIS
The Iraq Stock Exchange has recently taken a significant step towards modernizing its trading mechanisms by signing a strategic agreement with an Egyptian company. This agreement, announced today and facilitated under the oversight of the Iraqi Securities Commission, aims to enhance the investment environment in Iraq.
Key details of the agreement include:
Licensing and Maintenance: The Egyptian Company for Information Dissemination will provide licensing, usage, and maintenance of several systems for the Iraqi Stock Exchange. This includes:
Remote Trading System (OMS): Allows investors to trade remotely.
Portfolio Management: Assists in managing investors' portfolios.
Duration: The agreement is set for five years.
The initiative marks a notable advancement for the Iraqi stock market. Faisal Al-Haimus, CEO of the Iraq Stock Exchange, emphasized that the introduction of this remote trading system, which has proven successful in Egypt, will significantly enhance the market infrastructure. The system's smart applications are expected to streamline trading operations and improve the overall investor experience, reflecting Iraq's commitment to integrating modern technologies and fostering sustainable growth in its financial sector.
Happy Wednesday folks. Once Kamala is officially announced as the interim “President”, we will see manufactured chaos in America for about three months. But during that time, the currency reset.
Waiting on Ali Allaq to be officially removed as the CBI governor and replaced. This should all occur at the same time. Watch for XRP price to move as well during this time.
#dominoeffect
@JonDowling
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Things continue to heat up! Will Iran take the US offer to remove all the sanctions, or will they go full steam ahead with the attack on Israel? Something has to give soon and it will.
Iraq Loses One Trillion Dinars Annually.. MP: Corruption In Ports Is "Dangerous"
Economy |Baghdad Today – Baghdad Member of Parliament Yasser Al-Hussaini revealed, today, Wednesday (August 14, 2024), that Iraq is exposed to a loss of one trillion dinars annually due to corruption in the ports, while describing what is happening in the ports as "dangerous."
Al-Hussaini said in an interview with Baghdad Today, "The parliamentary investigation committee continues to collect documents and evidence that prove day after day the extent of the major violations of public funds, and the documented numbers confirm beyond doubt that they are higher than what we mentioned previously in terms of losses and financial violations in general."
He added, "What is happening in the ports is the mortgage of this large economic facility to companies affiliated with political forces for decades through contracts that oblige the government, noting that Iraq loses nearly a trillion dinars annually that goes into the accounts and pockets of companies."
Al-Hussaini pointed out that "what is happening in the ports is dangerous and what we have revealed so far raises many question marks, stressing that all investigations and documents will be submitted to the Iraqi judiciary."
On Friday (July 12, 2024), the head of the Parliamentary Order 160 Committee to investigate suspicions of corruption in Iraqi ports, Yasser Al-Hussaini, revealed 3 results that he described as “bitter” in the Basra ports file.
Al-Husseini told Baghdad Today, "What we are doing is perhaps the most important parliamentary investigation to preserve the wealth of Iraqis by addressing a sensitive and dangerous file due to the huge amount of money and the administrative and financial violations that have been detected."
He added, "Investigations are continuing into the file of suspicions of financial and administrative corruption in Iraqi ports, despite the existence of three-dimensional pressures from influential political and governmental parties in a single attempt, which is to undermine the work of the committee as much as possible and obstruct what it is doing."
The MP said, "Three bitter facts were revealed: the waste of 20 trillion dinars is not suspicion, but a fact. There is a lot of evidence accompanied by long decades that mortgage Iraq's wealth to corrupt political parties. In addition, the extent of the pressures revealed the identity of those who want to keep the scourge of corruption eating away at the ports to sustain their coffers with money, without caring about the harm it causes to the Iraqis."
He considered that "the investigation into the Basra ports file is the most dangerous and important and is a courageous step in confronting the scourge of corruption that has large arms," stressing that "what we seek is to preserve public money and stop the draining of the country's wealth."
Member of the Parliamentary Integrity Committee, Ali Turki, had previously stated that the committee formed to investigate corruption files in the ports had failed in its mission.
On April 15, the acting Speaker of Parliament, Mohsen Al-Mandalawi, decided to form a parliamentary committee to investigate “violations” at Iraqi ports.
The committee is formed under the chairmanship of MP Yasser Hashem Al-Hussaini and the membership of MPs Faleh Al-Khazaali, Hassan Salem Abdul Rahim Al-Shammari, Mona Al-Sabil, Siban Aziz Soran Omar Muwaffaq Hussein Saud Al-Saadi Abdul Amir Al-Mayahhi Alaa Al-Haidari Ali Al-Maksousi, and Rafiq Al-Salihi. It is responsible for investigating violations in Iraqi ports, and the committee will be supported by employees from the ministry and the relevant bodies according to the committee’s needs, and the results of the investigation will be presented to the House of Representatives.” LINK
ANALYSIS
The recent revelations about corruption in Iraq's ports have exposed a severe economic crisis, with the country reportedly losing one trillion dinars annually. This loss is attributed to corrupt practices involving companies linked to political forces, which have allegedly been siphoning off public funds through long-term contracts.
Member of Parliament Yasser Al-Hussaini has described the situation as "dangerous" and outlined that the parliamentary investigation is uncovering significant financial violations. He emphasized that these investigations are crucial for addressing the misuse of Iraq's resources and stopping the drain on the country’s wealth.
The investigation has revealed three major issues: the massive waste of 20 trillion dinars, the involvement of corrupt political parties, and the substantial pressures exerted to hinder the investigation’s progress. Despite these challenges, the committee, led by Al-Hussaini, continues to pursue accountability and transparency, aiming to bring the perpetrators to justice.
The corruption in the ports has been a persistent issue, and the parliamentary committee's efforts represent a crucial step toward addressing and mitigating these problems. The results of the ongoing investigation are expected to be submitted to the judiciary, potentially leading to significant legal and administrative reforms.
The Governor of the CBI in Iraq "chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq, with the participation of a number of bank officials, bank managers, electronic payment service providers, and the Iraqi Private Banks Association."
Iraq is preparing themselves for the full integration of their new Digital Banking System. They are currently working out the details of implementation that would become a National protocol for their new Banking System.
It is good to see them get to this point, so they can begin the process of implementing their new banking reforms inside an International Electronic Payment System.
Let's take a closer look at where we are. About a week ago, we learned that the new QFS was placing ISO20022 codes to our new digital currency.
Today, we are witnessing a place to record these Global currencies through Digital Ledger Technology (DLT).
And, we are being reminded that the CFTC will be governing them. We now have a storehouse of value through Bitcoin on our markets and a smart contract Network through Ethereum to insure that enough money is on both sides of a trade. Ripple has been set free and will be moving digital currencies around on the new digital markets. Finally, we have several cryptos indexed into pairs against Ripple allowing crypto guidance for these digital coins to come up to par with Ripple.
Will Ripple replace Swift entirely or live-in coexistence together? We are already experiencing a coexistence in some cases. As Ripple adapts and expands into payment processes around the world, the ability to move into the primary source of payments will make it the new digital World Reserve Currency.
Is it time for MICA regulations to be introduced in America? It's coming, and new laws will be giving them validation, so a green light for the new QFS can commence.
