DINAR REVALUATION REPORT: Al-Sudani's Statement on ISIS Threat to Iraq, 2 SEPT

 Al-Sudani's Statement on ISIS Threat to Iraq

In a recent statement, Iraqi Prime Minister Mohammed Shia al-Sudani reassured NATO and the US ambassador that the remnants of ISIS no longer pose a significant threat to the Iraqi state as of September 2024. 1 This declaration comes amidst ongoing efforts to maintain stability in the post-ISIS era, where Iraq's leaders are attempting to balance their relationships with their two most powerful allies, the United States and Iran. 1

Iraq's Post-ISIS Era: Balancing Alliances

Since the U.S. invasion in 2003, Iraq has been a critical battleground for U.S.-Iran competition and, at times, indirect cooperation. 1 The country's strategic location and Iran's support for Iraqi paramilitary groups have positioned Tehran with significant leverage relative to other theatres. Iraq became a key flashpoint for U.S.-Iran tensions during the "maximum pressure" era, marked by direct and indirect confrontations involving attacks by Iran-backed paramilitary groups on U.S. and allied interests.  1

To ensure the fragile stability achieved post-ISIS, Iraqi leaders are navigating a delicate path between their two influential allies, the U.S. and Iran. 1 This involves balancing military and financial aid from the U.S. with the complex dynamics of Iran's influence in Iraq's security and intelligence sectors. 1

The War against ISIS: Global and Regional Dynamics

The war against ISIS has been a global effort, involving multiple regions and a diverse set of belligerents. 2 In Iraq, the conflict has seen involvement from the Iraqi Security Forces (ISOF), the United States, Iran, and Russia, among others. 2The situation in Iraq is part of a broader military landscape that includes the Syrian Civil War, the Second Libyan Civil War, and other regional conflicts. 2

As of September 2024, Al-Sudani's statement reflects a crucial phase in Iraq's post-ISIS recovery. The country has made significant strides in eliminating the physical presence of ISIS, but the ongoing challenge is to address the root causes that allowed the group to flourish. 1

Closing

Al-Sudani's assurance to NATO and the US ambassador highlights Iraq's progress in overcoming the ISIS threat. However, the complex geopolitical landscape and the need for continued vigilance against potential resurgence underscore the ongoing challenges faced by the Iraqi government and its allies in maintaining peace and stability in the region. 1

Al-Sudani to NATO and the US ambassador: The terrorist remnants of ISIS no longer pose a threat to the Iraqi state, 2 SEPT

 Baghdad – Mil

Prime Minister Mohammed Shia Al-Sudani, on Sunday, during his meeting with the leader of the international coalition mission to fight ISIS in Iraq, Kevin Leahy, in the presence of the US Ambassador to Iraq Elina Romanoski, stressed that the terrorist remnants of ISIS no longer pose a danger to the Iraqi state.

The Sudanese media office said, in a statement to “Mil”, that “the prime minister received the leader of the international coalition mission to fight ISIS in Iraq, General Kevin Leahy, in the presence of the American ambassador to Iraq.”

He added that “the meeting discussed the course of the technical dialogue between the two sides to end the mission of the international coalition in Iraq, and transfer the mission to the framework of bilateral relations between Iraq and the countries participating in the coalition, in addition to continuing cooperation in the field of training, expertise and information with the Iraqi security forces.”

The statement continued that “the Sudanese stressed that the terrorist remnants of ISIS no longer pose a threat to the Iraqi state, and its elements have turned into chasing groups in remote areas for the purpose of concealment, as our armed forces continue their military operations in tracking down any traces or burrows of these terrorists.”

https://miliq.news/political/34993–.html

RV UPDATE BY MARKZ, 2 SEPT

  MarkZ 

  [via PDK] 

  Comment:   ...13 Iraqi banks now trading international currency.  MarkZ:  I think that one is very important. They can now exchange back and forth in different currencies. The mechanism to exchange foreign currencies went live…I think this one is huge.

  I did get an update this morning from a redemption center contact. They very much still expect to be called into work this weekend.  Their chain of command said to expect to work before Tuesday.  This is excellent news.

 ...my redemption folks...are on call…but they have been told to expect to work at some point over this long weekend. Since its Labor Day Weekend…This is unusual.

🛑LIVESTREAM....COFFEE TIME⏰...IRAQI DINAR SECRET AGENT MAN PLUS SUMMARY ...

DINAR REVALUATION REPORT: Central Bank of Iraq's High-Level Delegation Achieves Notable Outcomes in US Visit, 2 SEPT

 Central Bank of Iraq's High-Level Delegation Achieves Notable Outcomes in US Visit

On a mission to enhance Iraq's banking sector and strengthen international financial ties, the Central Bank of Iraq (CBI) dispatched a high-level delegation to the United States. The visit, spanning from August 26 to 29, 2024, was led by Governor Ali Mohsen Al-Alaq, accompanied by senior officials from the CBI. 1

Intensive Meetings and Strategic Engagements

During their stay in New York City, the delegation engaged in a series of intensive meetings with key entities in the US financial sector. These included the US Treasury Department, the Federal Reserve Bank, and prominent financial institutions such as Visa, Mastercard, and MoneyGram. 2

Discussions with US Treasury and Federal Reserve

The talks with the US Treasury Department and the Federal Reserve Bank centered on the evolving landscape of Iraq's banking industry. The CBI sought insights and guidance on regulatory frameworks and best practices to bolster the Iraqi banking sector's resilience and compliance with international standards. 2

Meetings with Financial Institutions and Auditing Firms

The delegation also convened with representatives from major banks such as Citi Bank and JP Morgan, as well as international auditing firms including KPMG, E&Y, K2i, and Oliver Wyman. 2 These meetings aimed to explore opportunities for collaboration, improve financial oversight, and streamline processes for international transactions.  4

Major Transformations and Enhancements

The participants in the meetings lauded the significant progress made by the CBI in recent years. Notable achievements included: Improved monitoring of foreign transfers and cash sales of the US dollar. Alignment of systems, policies, and procedures with international and local standards. 2 Enhanced transparency in covering foreign trade. Strengthened protection for the banking and financial sector against money laundering, terrorist financing, and financial crimes. 2

Upcoming Shift in Foreign Transfer Mechanisms

A pivotal development announced during the visit was the planned shift from the current electronic platform for foreign transfers to direct banking relations between Iraqi banks and international correspondent banks.  4 This transition is expected to: Stabilize exchange rates. Enhance the overall efficiency of Iraq's financial system. Facilitate financial transactions involving US dollar transfers. 4

A year-end meeting is scheduled between CBI officials and international partners to further discuss and implement this strategic shift. 4

Conclusion

The Central Bank of Iraq's visit to the United States in August 2024 marked a significant step forward in modernizing Iraq's banking sector and aligning it with global financial standards. Through strategic meetings and negotiations, the CBI demonstrated its commitment to enhancing financial transparency, stability, and international cooperation. 

LATEST FROM MILITIAMAN, 2 SEPT

 Militia Man 

 You didn't have anybody talking about privatizing the banks 20 years ago...It wasn't in the pipeline.  It's obviously different from 2016.  We don't have ISSI anymore.  It's obviously different from 2018. 

 Why would they print all that currency in 2018 and then just stop doing it? 

 ...It's really a complex situation.  It's more than just pushing a button... There was a component of corruption...We all know they're going to have transparency and accountability...With the likes of Ernst & Young involved the world will find confidence...You're going to find big things are underway for this country.

----

Article: "The Central Bank announces the participation of 13 Iraqi banks in foreign transfer in multiple currencies" 

 Friday afternoon...10pm in Baghdad, article hits the wires. 

Quote: "Delegation in New York announces the start of the new phase of external transfers...facilitating international transfers" 

 If Iraq is going to be dealing with the Euro, the Chinese Yuan, Indian Rupee, the UAE Durham they're probably going to have to have Article VIII compliant currency that's acceptable globally, traded on the Forex... This is big.  

Why do they come out on a Friday? 

A high-level negotiating delegation from the Central Bank in New York City, USA , 1 SEPT

 A high-level negotiating delegation from the Central Bank in New York City, USA

The Central Bank of Iraq announced the results of the visit of the delegation headed by His Excellency the Governor of the Central Bank, Mr. Ali Mohsen Al-Alaq, to ​​the United States of America, which lasted from August 26 to 29, 2024.

The Central Bank of Iraq confirmed that a high-level negotiating delegation headed by His Excellency the Governor, Ali Mohsen Al-Alaq, held a series of intensive meetings in New York City, USA, which included discussions with the US Treasury Department and the Federal Reserve Bank, in addition to meetings with a group of companies (Visa, Mastercard and MoneyGram) as well as banks (Citi Bank and JP Morgan) as well as international auditing firms (KPMG, E&Y, K2i and Oliver Wyman).

Adding that the participants in the meetings praised the major transformations accomplished by the Central Bank of Iraq, which represent an unprecedented achievement at the country level, as the bank has achieved remarkable progress in the procedures for monitoring foreign transfers and cash sales of the US dollar, which has led to improving systems, 

policies and procedures in accordance with international and local standards, enhancing transparency in covering foreign trade and providing protection for the banking and financial sector from the risks of money laundering, financing terrorism and financial crimes. 

Announcing a meeting between officials of the Central Bank of Iraq and its international partners at the end of this year regarding the major transformation in ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks and the network of international correspondent banks, according to the plan developed by this bank, and implemented internationally ,

 which will allow the Central Bank of Iraq and the Federal Reserve Bank to exercise their supervisory roles away from executive procedures, as this transformation will have important repercussions in the stability, fluidity and transparency of the country's foreign trade financing operations, indicating that it aims to achieve the required stability in exchange rates, 

which in turn will lead to enhancing the efficiency of the financial system in Iraq. Noting that the meetings in New York City also addressed mechanisms for expanding the network of international correspondent banks and qualifying Iraqi banks to meet the necessary requirements to open their accounts with international correspondent banks, with the aim of enabling them to complete their financial transactions, whether through external transfers in US dollars or other foreign currencies.

Central Bank of Iraq

Media Office

August 30, 2024

The Central Bank announ...

Fouad Hussein's Key Meeting with US on ISIS Coalition

DINAR REVALUATION REPORT: CONTEXT OF THE CONFERENCE BETWEEN FOUAD HUSSEIN & THE US AMBASSADOR, 1 SEPT

 Context of the Conference

Fouad Hussein's Engagement with the US on the International Coalition Against ISIS

On September 1, 2024, Iraqi Deputy Prime Minister and Foreign Minister Fouad Hussein met with the US Ambassador, Alina Romanowski, in Washington to discuss the international coalition conference against ISIS. The conference aimed at assessing the ongoing efforts and future strategies in combating the remnants of the Islamic State group in the region.

The conference was part of a broader dialogue between Iraq and the US, reflecting the strategic relationship and mutual interests in maintaining security and stability in Iraq and the broader Middle East. The discussions also touched upon the future of the US military presence in Iraq, with the Biden administration signaling an openness to redefine the strategic relationship between Baghdad and Washington.  3

Key Points of Discussion

While details of the conference discussions were not fully disclosed, a senior Iraqi diplomatic source revealed that the talks centered around three main points. First, the potential announcement of an end to the international mission to fight ISIS, which would necessitate a reevaluation of the strategic relationship between Iraq and the US. Second, the US military withdrawal from Iraq was discussed, with the understanding that it would depend on certain conditions and outcomes from the conference. 3

Implications for Iraq-US Relations

The meeting between Fouad Hussein and the US Ambassador highlighted the ongoing negotiations and the evolving nature of Iraq-US relations. It underscored the importance of cooperation in addressing security challenges and the role of the international coalition in combating terrorism. 1

Fouad Hussein discusses with the US Ambassador the details of the international coalition conference against ISIS in Washington, 1 SEPT

  Fouad Hussein discusses with the US Ambassador the details of the international coalition conference against ISIS in Washington

Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein discussed with US Ambassador to Baghdad Alina Romanowski on Saturday the details of the international coalition conference against ISIS, which will be held in Washington next month.

The Iraqi Foreign Ministry said in a statement, a copy of which was received by Kurdistan 24, that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein received today, Saturday, August 31, 2024, the US Ambassador to Iraq, Alina Romansky."

The statement indicated that "during the meeting, the ongoing negotiations regarding a ceasefire in Gaza and sending aid, especially medical aid, to the Strip were discussed."

He added, "The military operation carried out in the Anbar desert was referred to, which resulted in the neutralization of 15 ISIS terrorists. The minister praised the joint cooperation between the Iraqi and American forces and the success of this important operation."

He added that the meeting "touched on the conference of the international coalition against ISIS scheduled to be held in Washington early next month, and Iraq's participation in it. It is worth noting that this coalition includes 87 partners, and was established primarily to fight the terrorist organization ISIS in Iraq and Syria, and the conference will be at the level of foreign ministers of the participating countries."

The statement concluded by saying, "The United Nations General Assembly meetings to be held next month, which will be attended by dozens of world leaders, were discussed. The role of the two countries in these meetings and the required coordination between them to hold bilateral meetings on the sidelines of the participation of the two countries' delegations in New York were also discussed." link

STATUS OF THE RECENT VISIT OF IRAQ TO UNITED STATES BY GOLDILOCKS, 1 SEPT

 GOLDILOCKS

Iraq just visited the United States on August 26 to 29, 2024. It was a high level negotiating team that met with JP Morgan, the US Treasury, Federal Reserve Bank, visa, mastercard, moneygram, Citibank, as well as International auditing firms such as KPMG, E&Y, K2i and Oliver Wyman.

One of the values of a meaning such as this includes trade facilitation. International auditing standards help to facilitate trade and support economic growth. Every international negotiator knows how to factor currency rates into agreements with their foreign business partners.

Part of the discussion dealt with moving from an electronic platform to a virtual bank whereby a Direct Banking relationship can occur. Direct banks, also known as branch-less or virtual banks, offer their services online, through mobile apps, email, and other electronic means.

Another portion of the conversation moved towards International engagement through International correspondent banking such as the Swift system provides. A network of international correspondent banks is a complex system of financial institutions that work together to facilitate global transactions.  

Yes, this requires a stable exchange rate that can be used between countries in trade and foreign currency exchange. These determinations are a part of supply and demand ratios factored in through trade.

The people invited to this meeting was no accident. It was a negotiating team ready for action. It was a meeting to discuss "the requirements necessary to open their accounts with international correspondent banks." This transition is expected to occur by the end of this year.

This moves Iraq from a supervisory role with the United States to a more independent nation with their own rules and regulations to guide their financial agreements around the world. Yes, this is the information have been looking for for long time. 

Watch the water. 

© Goldilocks

https://cbi.iq/news/view/2660

https://www.negotiations.com/articles/international-transactions/

Iraq's Investment Law: Big Changes Ahead!

@DINARREVALUATION

 

DINAR REVALUATION REPORT: Iraq's Parliamentary Economy Committee Discusses Amending the Investment Law, 1 SEPT

 Iraq's Parliamentary Economy Committee Discusses Amending the Investment Law

In September 2024, Iraq's Parliamentary Economy Committee convened to deliberate on amendments to the country's Investment Law. 1 The discussions centered around the need to enhance the law to attract more foreign direct investment (FDI) and bolster the private sector, which has remained weak. 1

Background on Iraq's Investment Law

The current Investment Law, No. (13) of 2006, was enacted to create a more favorable environment for investments in Iraq. 6 It established the National Commission for Investment, responsible for formulating national investment policies and granting investment licenses. 6 However, the law has faced criticisms for not being fully effective in stimulating investment, primarily due to bureaucratic hurdles and security concerns. 1

Proposed Amendments and Objectives

The proposed amendments aim to address the shortcomings of the existing law and to create a more investor-friendly environment.

 Key objectives include: Simplifying the investment licensing process to attract more FDI. 

Strengthening the role of the National Commission for Investment to better support investors.

 Providing clearer guidelines on land use and ownership for foreign investors. 

Establishing a dispute resolution mechanism to address investor concerns.

Challenges and Opportunities

Iraq's economy, heavily reliant on oil revenues, has been seeking diversification and modernization of its financial and banking sectors. 1 The proposed amendments to the Investment Law are seen as a critical step in this direction.

However, the country's political dynamics, corruption issues, and lack of basic services remain significant challenges. 1

Stakeholder Perspectives

Government: The new government, under Prime Minister Mohammed Shia’ al-Sudani. 1 is optimistic about the potential of the amended law to attract FDI and boost the economy. 

Investors: Foreign investors have shown interest but remain cautious due to security concerns and the slow pace of reform. 3 

Civil Society:There are concerns among civil society groups about the transparency and accountability of investment deals, particularly in the upstream oil industry. 3

Parliamentary Economy Committee Discusses Amending the "Investment Law", 1 SEPT

  Parliamentary Economy Committee Discusses Amending the "Investment Law"

The Iraqi legislative arena is currently witnessing intensive discussions about the fourth amendment to Investment Law No. 13 of 2006, as amended, in light of the significant expansion of investment activity in the country in recent years.

These discussions come within the framework of efforts aimed at improving the investment environment and addressing the gaps in the current law.

In a press interview followed by “Economy News”, member of the Economic Committee, Diaa Al-Hindi, confirmed that the proposed amendment is “important and necessary” due to the many problems that the current law suffers from, explaining that “the current law requires fundamental amendments in several aspects, including the mechanism for selecting heads of bodies and members of the board of directors in bodies, in addition to the conditions for granting and withdrawing investment licenses, additional extensions, and grievance procedures.”

Al-Hindi pointed out that the amendment seeks to address those issues that the current law did not adequately address, which negatively affects the investment climate in Iraq.   link

" I WAS JUST ADVISED TO BE ON ALERT FOR THE NEXT 24-48 HOURS" BY TEXAS SNAKE, 1 SEPT

 TEXAS SNAKE

• Fri. 30 Aug. 2024 Texas Snake
•  “I was just advised to be on alert for the next 24-48 hours as news we expect was about to be released.”

---

TEXAS SNAKE

• Tues. 27 Aug. 2024 Texas Snake: “I can confirm Farm Claim payments as well.  There is positive movement.”

---

 TEXAS SNAKE

Will read all your posts and hopefully the banker will have something positive I can share with y'all tomorrow.

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TEXAS SNAKE

Nothing to share just wanted to let you folks I was still around

--

 TEXAS SNAKE

Well folks everything remains very positive for our anticipated event so continue to pray this event in for the sake of the world's economy as well as each of us participants.  GOD Bless each member.

---

TEXAS SNAKE

Banker indicates many positive items are pointing to Thursday, we shall see.

----

TEXAS SNAKE

AUGUST 03

 love this room now, Leaves TS to be free to speak, admins never jump in cause issues and people have continued to come in and all seem to keep to the subject, truly the room has become what we all wanted it to be.

It is presently 3:10 AM in Bagdad Monday morning and additional info is coming forward over and above what was shared on the Conf Call I was included in last night.  Still very encouraged about tomorrow in US as well as this coming week.

You are correct it will be Monday when the banker calls me in the morning.

----

AUGUST 06

Well foiks truly wish I had something to report but with all the NDA;s being issued it is much harder to obtain anything of value.

AUGUST 07

Things are in positive motion folks hang in there, NDA's are the issue at present for status of our benefits to be realized but it is days not months

AUGUST 09

Texas Snake, [08/09/2024, 9:13:08 p. m.]:

While due to the many NDA's that those who have provided info to me has resulted in the limited info I can share we are still in a positive situation to realize our objective.  Wish I could share more of the particulars but cannot risk their safety.

Gonna be an early night forme as I need tp prepare a men's breakfast for our church in the morning but will open for a bit for you folks to share anything you may have.

LATEST REPORTS OF TEXAS SNAKE: 

RV UPDATE BY TEXAS SNAKE, 4 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-texas-snake-4-august_01843290374.html 

RV UPDATE BY TEXAS SNAKE, 2 AUGUST

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-texas-snake-2-august.html 

"WE ARE CLOSER EACH DAY" BY TEXAS SNAKE, 1 AUGUST

https://dinarevaluation.blogspot.com/2024/08/we-are-closer-each-day-by-texas-snake-1.html