Iraq and the World Bank discuss supporting economic and financial reform, 30 AUGUST

 Iraq and the World Bank discuss supporting economic and financial reform

Economy News – Baghdad

Finance Minister Taif Sami discussed with the World Bank on Thursday support for the economic and financial reform program.

The ministry said, in a statement received by “Economy News”, that “Sami, received the regional director for the Middle East at the World Bank, Jean-Christophe Carret and the bank’s special representative in Iraq, Richard Abdul Nour.”

During the meeting, “the World Bank’s loans and grants were followed up on the priorities of development projects and ways to support the World Bank to strengthen the financial and business sectors and improve the investment environment, as it was emphasized the continuation of bilateral coordination to promote sustainable development, in addition to discussing the Bank’s support for the government program with regard to economic reform in Iraq.”

Sami pointed to “the government interest aimed at strengthening partnership with international financial institutions, within the framework of accelerating the pace of financial and banking reforms in line with the vision of the Iraqi government aimed at consolidating the pillars of the national economy, creating economic balance and correcting the course of fiscal policy in Iraq.”

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Views 48

Added 2024/08/29 – 1:32 PM

https://economy-news.net/content.php?id=46913

LATEST FROM MARKZ: "EXPECTING THE RV" 30 AUGUST

 MarkZ  

 [via PDK]  The silence in the news is eerie…It definitely feels like the calm before the storm..

.I’m still praying August is our month.

  Most of what I am being told right now is to expect it anywhere from last Monday until September 4th- somewhere in there to see us actually with appointments…we will see...I think the quiet is purposeful. 

 We heard rumors it was happening Monday Night…than last night…now the rumors are for this weekend... 

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LATEST FROM MARKZ: " GROUPS ARE EXPECTING MONEY MOVEMENT AT ANY MOMENT" , 29 AUGUST

 MarkZ 

  [via PDK]  

A lot of people calling for it to start within 24 hours. There is a whole lot of chatter with groups who are expecting money movement at any moment or over the weekend.

 The rumors out of the groups are everybody will be working this weekend.   Group leaders are all charged up and ready...we hear Al Alaq (Governor of the CBI) is to go from New York to DC today.  We are hopeful it means something….  Comment:  Slowly, Slowly, SUDDENLY.  

MarkZ:  I think we are finally at the suddenly part.

 Comment:  Wealth manager sent out memo saying the dinar is a scam.  

MarkZ:  Well if it is a scam - Trump invested in it, Warren Buffet invested in it…the US treasury has invested in it.  I believe even George Soros has invested in it…and almost every central bank around the world has invested in it.  So if it is a scam…well, all the smartest people in the world fell for it.

https://dinarevaluation.blogspot.com/2024/08/latest-from-markz-groups-are-expecting.html

🔥 Iraqi Dinar 🔥 Finally Revaluation 🔥 Today IQD Value to Dollar RV News ...

Rafidain announces the implementation of the comprehensive banking system in three new branches, 30 AUGUST

 Economy News _ Baghdad

Rafidain Bank announced on Thursday the implementation of the comprehensive banking system in the branches of Al-Akhal district in Baghdad, Al-Farouq, Diyala and Al-Khaldiyya, Anbar.

The media office of Rafidain Bank said in a statement received by “Economy News”, that “in implementation of the government program to move from paper to electronic transactions to provide the best services to citizens, Rafidain Bank announces the implementation of the comprehensive banking system in the branches of the working district of Baghdad, Al-Farouk, Badiya and Al-Khalidiya in Anbar to join the branches that activated the comprehensive system in Baghdad and the governorates, 

in addition to the branches of the border ports (Zarbatiya – Safwan – Arar – Trebil) so that the number of influential and completed branches of the system (40) branches,” indicating that “this came in an important step to strengthen the banking system and achieve its requirements, leave paper work and go to the total direction to electronic systems.”

The bank stressed that “the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the timings set to include all branches of the bank by applying the system, especially since one of the priorities and adoptions of the government program is the electronic transformation in financial transactions, reducing routine circles for citizens, reducing time, simplifying procedures, overcoming obstacles and intensifying efforts to improve the level of services provided to customers and completing their transactions.”

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Views 67

Added 2024/08/29 – 11:18 AM

https://economy-news.net/content.php?id=46908

LATEST FROM MILITIAMAN, 30 AUGUST

 Militia Man  

Article:  "...secure a sustainable water future, develop irrigation systems, and address the impact of climate change on rivers, 'without disclosing its financial cost'."  Why in the world would they not disclose the financial cost?

 ...If they told you it was going to be at 1310, would they be telling the truth?  

Probably not...They're not willing to tell you what the value of the currency is...

What is Iraq supposed to do by law, commercial business, in what?  

The dinar.  They're not willing to tell you how much it's going to cost.  I think that's a hint...Sustainable water for the future is most definitely going to be an issue.

Militia Man 

  Article  "Iraq is the 9th largest buyer of gold in 2024" 

 If they clawed back enough money to help buy 100 tons of gold, man, there's been some heavy, heavy corruption.  I'm assuming their recent income from non-oil revenues has had something to do with it as well.

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 Militia Man  

 Article quote:  "At this time there is no acute problem regarding cash liquidity" 

 There's no need to print new currency...They've yet to do anything different.  

They spent about $50 million in printing currency and it wasn't triple zero notes.  There's no reason for it.  You can't spend $50 million while you're burning up money to print new ones, especially if they were perfectly good.

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The United States is going to say we're ready to go. 

We're not playing games anymore...we're going to do it our way.  Iraq either you're on board or you're not on board...No wonder those guys are barking...because the parallel markets are going to go away and fast.

  They know what they need to do.  Change the value of their currency and no one's going to want their [black market] USD.  They're going to know the Iraqi dinar is going to be powerful just like Sudani said...

https://dinarevaluation.blogspot.com/2024/08/theres-no-need-to-print-new-currency-in.html

PIMPY: Iraqi Dinar update for 08/29/24 - update on where ive been and the rumo...

The Industrial Bank warns citizens against carrying amounts that exceed the allowed limit, 29 AUGUST

 Mawazine News – Baghdad

On Thursday, the Industrial Bank warned citizens against carrying amounts that exceed the allowed limit.
The bank’s media office said in a statement received by (Mawazin News): “Citizens should be careful not to carry amounts that exceed the permissible limit,” noting that “they can adopt official methods of transporting large funds.”
“Citizens should avoid carrying money in cash to prevent legal accountability if the limits allowed to enter and take money to and out of Iraq are exceeded,” he added.

https://www.mawazin.net/Details.aspx?jimare=254121 

LATEST FROM TNT, 29 AUGUST

 TNT

Every agency is saying the RV is happening 

800 number to come in a couple of hours. 

Tony thinks over the weekend.

 

Historically, rate changes in Iraq have happened in September. 

Prime Minister, CBI director and the Finance Minister are outside of the country.

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TNT 
Mon. 26 Aug. 2024 TNT

 They tweeted a couple days ago that the new lower denomination dinars were being released to the streets in Iraq, which means that the rate change is soon to follow. Today they confirmed with their contacts that the lower denomination dinars were released on certain locations on the streets.

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TNT TONY

• Sat. 24 Aug. 2024 TNT Tony
•  “Just got word that in Iraq the lower denoms are being released on the streets right now. Start poppin. It’s on its way.”

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 TNT UPDATE 

GOOD MORNING TNT IT'S FRIDAY AUGUST THE 23RD 20241:09 PM

THIS MORNING WAS TOLD TODAY IS THE DAY BUT WE DON'T KNOW THE TIME1:10 PM




GOOD THING TO BRING PEACE OF MIND... DNC IS OVER...Aug 23

NEVER THOUGHT IT WAS RELATED... THE THINGS THAT ARE RELATED ARE GETTING BETTER 1:11 PM




AT THE END OF THE MONTH SUDANI GOING TO TRY TO GET SANCTIONS OFF IRANIAN BANKS  1:12 PM




OTHER GOOD NEWS ISRAEL ACCEPTED THE PROPOSAL FOR PEACE     1:12 PM




SO WE WAIT FOR HAMAS - COULD HAVE PEACE, NO RETALIATION   1:13 PM




WE WILL SEE WHAT MAKES REAL SENSE.   1:13 PM




READY FOR IT TO BE OVER... READY FOR NEXT GREAT THING.1:15 PM

IT MIGHT SOUND HORRIBLE.... BUT... YOU CAN'T SEND ME YOUR PROBLEMS  1:15 PM




CAN'T FIX THEM... i CAN'T LOAN MONEY OR GIVE MONEY OR TELL YOU WHERE TO GET MONEY... NO ONE IS GETTING ANY. 1:15 PM




IT DOES AFFECT ME... ALL YOU ARE GOING THROUGH... I FEEL FOR YOU EMOTIONAL MENTALLY. 1:17 PM




HAVE SENATORS AND CONGRESSMEN WAITING TO GET PAID... PAID SOME LAST FRIDAY AND SATURDAY 1:18 PM




ALL OF THEM DID NOT GET PAID... SOME ARE WAITING RIGHT NOW...1:18 PM




SOME TOLD GETTING PAID YESTERDAY... PENDING... PAID TODAY... BUT DIDN'T HAPPEN...1:18 PM




SENATORS AND CONGRESSMEN NEED TO WAIT, TOO1:19 PM




ALL IS DONE... WAITING FOR EMAILS TO COME THROUGH THE SYSTEM Aug 23

IT'S NOT IRAQ IT'S NOT THE BANKS... ALL IS DONE THEY DID ALL THEY WERE SUPPOSED TO DO..1:19 PM




ALL HAVE DONE WHAT SUPPOSED TO DO BUT GO.... HOLD-UP SEEMS TO BE WHAT IS GOING ON IT THE MIDDLE EAST.1:20 PM




WAS HAPPY WHEN SAW THE AGREEMENT NOT TO INVOLVE IRAQ.... DON'T USE US AS A BATTLE GROUND... WOULD AFFECT THE WHOLE REGION 1:21 PM




WITH THESE THINGS OVER... COULD TAKE OFF... IRAQIS BEING TOLD ANY DAY... COMING DAYS.... SHOULD BE OVER TOMORROW1:22 PM

3 LETTER AGENCIES.... WAITING... TODAY AFTER 51:22 PM




ON WED WAS TOLD THEY WERE LOADING THE CODES TO RELEASE IT RIGHT THEN... OBVIOUSLY DIDN'T RELEASE.1:22 PM




GIVING ALL INFO... NOT HIDING INFO - ALL WE CAN DO IS WAIT FOR THE FINALIZED AGREEMENT WHICH CAN HAPPEN AT ANY MOMENT.

https://dinarevaluation.blogspot.com/2024/08/tnt-update-sudani-going-to-try-to-get.html

Iraqi Dinar Guru News Highlights (8/29/24)

Iraq is preparing a special plan for the salaries of its employees that cost 10 trillion dinars, 29 AUGUST

 Shafaq News / The Finance Committee in the Iraqi Parliament revealed, on Thursday, its intention to prepare a special plan to unify the file of the salary scale of employees, indicating that its implementation costs 10 trillion dinars.

The member of the committee, Moeen Al-Kazimi, explained to Shafak News Agency that the Parliamentary Finance Committee had earlier hosted the government committee concerned with the file of unifying the salary scale of state employees, and that it is working to find the necessary financial liquidity to achieve this unification.

He added that the number of employees exceeds 4 million, and that the unification of their salaries requires about 10 trillion dinars, which requires financial allocations and the amendment of the salary scale.

Al-Kazimi pointed out that the Council of Ministers is the entity concerned with amending the salary scale by approving a law on salaries or the Civil Service Law and sending it to the House of Representatives.

About 70% of Iraq’s estimated five million employees are calling for a change in the salary scale due to what they see as “injustice and unfairness” compared to their peers in other ministries that give much higher allowances. Employees have threatened to continue the demonstrations if the procrastination and procrastination of their rights have continued since 2008.

The capital Baghdad and a number of governorates witnessed periodic demonstrations demanding the amendment of the salary scale, as thousands of employees went out in mass demonstrations heading to the Green Zone in the center of the capital demanding the amendment of the salary scale in light of the high annual inflation rate.

Prime Minister Mohammed Shia Al-Sudani describes the file of amending the salary scale as a “sensitive matter”, stressing working to “reach a formula for achieving justice.”

https://shafaq.com/ar/اقتصـاد/العراق-يعد-خطة-خاصة-لرواتب-موظفيه-تكلف-10-تريليونات-دينار

LATEST FROM JON DOWLING, 29 AUGUST

 JON DOWLING

Well folks it’s official: the current and soon to be former Central bank Governor of Iraq Ali Allaq announced in DC that Iraq is ending the currency auctions this year! That means the dinar is official reinstating this year and sooner than later. We’re moving forward folks.

Israel also told PM Sudani f he wants a second term, he has to reinstate the Dinar globally. Keep praying and staying on gratitude! 

@JonDowling

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Jon Dowling

 Cue the song by Europe- The final countdown! We're awaiting several events over the next four weeks to occur.

 Namely XRP to be fully released by the SEC that they will not appeal the case.

 The Dinar to reinstate, 

cryptos to start the bull cycle after the fifty basis point interest rate starts on September 18th and the deep state tries to arrest President Trump.

 Putin annihilates Ukraine with the MOAB and then runs with XI into Taiwan for the China Taiwan short invasion. Exciting times just around the corner.

https://dinarevaluation.blogspot.com/2024/08/were-awaiting-several-events-over-next.html

Evening News with MarkZ. 08/29/2024

DINAR REVALUATION REPORT: Central Bank of Iraq's Unannounced Visit to the United States in August 2024, 29 AUGUST

 Central Bank of Iraq's Unannounced Visit to the United States in August 2024

The Central Bank of Iraq (CBI) embarked on a discrete visit to the United States in late August 2024, focusing on discussions about the Iraqi banking sector and its evolving dynamics. 1 This trip, led by Governor Ali al-Alaq, aimed to address key issues surrounding the restrictions placed on the use of the US dollar by private Iraqi banks and the implications for future bilateral banking relations. 3

Purpose of the Delegation's Visit

The CBI delegation's primary objectives included reviewing the current state of Iraq's banking sector and exploring the potential elimination of the existing currency platform at the start of the following year. The discussions envisioned a shift towards a reliance on correspondent banks, a move that could tighten restrictions on private Iraqi banks and affect competition in the sector, potentially tilting the scales in favor of Jordanian banks with established American correspondent relationships.  3

Addressing US Dollar Restrictions

A significant part of the agenda dealt with the restrictions on the use of the US dollar by several private Iraqi banks. This issue, among others, has been a point of contention, with the delegation seeking to negotiate and understand the implications and requirements for Iraqi banks operating under these constraints. 5

Consulting for Banking Sector Reform

The Central Bank of Iraq was also in the process of contracting Oliver Wyman, a leading consulting firm, to conduct a comprehensive study aimed at reforming the Iraqi banking sector. The insights from this study were expected to guide future reforms and set a roadmap for the restructuring and improvement of the private banking sector in Iraq. 3

Lack of Public Announcement

Notably, the Central Bank's visit was not publicly announced, leading to surprise among some economists. The timing of the visit was considered crucial, given the ongoing discussions and developments in the Iraqi banking sector. 

Central Bank of Iraq on ‘unannounced’ visit to America, 29 AUGUST

 Shafaq News / An informed source revealed, on Thursday, an unannounced visit of the Central Bank of Iraq that is currently taking place to the United States of America, to discuss the developments in the Iraqi banking sector.

The source told Shafaq News that a delegation from the Central Bank of Iraq, led by the Governor of the Central Bank Ali Al-Alak, and a number of directors general, are visiting the United States of America, since the 26th of this month, to discuss the developments of the banking sector and the restriction on the use of the dollar imposed on a large number of private banks.

He pointed out that the Central Bank delegation discussed the abolition of the platform at the beginning of next year, and relying on correspondent banks, which will increase the imposition of restrictions on Iraqi private banks, and abolishing competition completely in favor of Jordanian banks that have American correspondent banks.

The source pointed out that the Central Bank is close to signing a contract with Oliver and Iman, the consultancy for the Iraqi Development Path, to conduct a study on the reform of the Iraqi banking sector, in order to adopt it by the Central Bank in the coming period, and consider it a roadmap for the reform of the private banking sector.

On the other hand, a number of economists were surprised that the Central Bank of Iraq did not announce the visit to America, especially as it comes at a very important time.

https://shafaq.com/ar/اقتصـاد/البنك-المركزي-العراقي-في-زيارة-غير-معلنة-لى-مريكا

Gifting Letter for Currency FROM MARKZ, 29 AUGUST

Gifting Letter for Currency

(Template)

Date:

To: [name and address of person being gifted the currency]

I/We [name of gift-giver(s)] intend to make a GIFT of $ [dollar amount of gift or currency to be given: ex: Dong, Dinar, Zim ect] to [name(s) of recipient(s)] , my/our [relationship, such as son or daughter] , to be applied toward the purchase of property located at: [address of the house you’re buying, if known] .

There is no repayment expected or implied in this gift, either in the form of cash

or by future services, and no lien will be filed by me/us against the property.

The SOURCE of this GIFT is: [describe the investment, bank, or other account the

gift is coming from] .

Signature of Donor(s): ________________________

Print or Type Name of Donor(s):

Address of Donor(s): Street, City, State, Zip:

Telephone Number(s) of Donor(s):

Email Address of Donor(s):