"ONLY BECAUSE THE MONETARY REFORM LAID THE FOUNDATION OF IRAQ'S FUTURE!!!" BY FRANK26, 19 OCT

 KTFA

FRANK26: "ONLY BECAUSE THE MONETARY REFORM LAID THE FOUNDATION OF IRAQ'S FUTURE!!!"......F26 

Laying the foundation stone for the largest skyscraper in Baghdad

 

10/14/2024

 

Baghdad - WAA - Hassan Al-Fawaz 

The National Investment Commission announced, today, Sunday, the laying of the foundation stone for the largest skyscraper in Iraq within the Downtown Baghdad complex, a qualitative urban design complex in Baghdad, while the Baghdad Municipality indicated that it provided facilities under the government's program to grant approvals by the National Investment Commission and planning approvals and heights by the Baghdad Municipality.

Chairman of the National Investment Commission Haider Makiya told the Iraqi News Agency (INA): "The commission laid the foundation stone for the largest skyscraper in Baghdad within the Downtown Baghdad residential complex, a qualitative urban design."
He added, "The complex is part of the integrated urban design that meets the Iraqi citizen's need for green spaces, sustainable air conditioning, smart lighting and other requirements for a luxurious life for the citizen."
He continued, "The government is serious and supportive of all investors in this type of investment that aims to create a real environment for businesses and projects that the Iraqi citizen deserves to see on the ground."
For his part, the Mayor of Baghdad, Ammar Musa, stated that "the government supports the private sector," stressing that "the investment skyscraper project is being built on a plot of land owned by the private sector."
He added to the Iraqi News Agency (INA), that "the Baghdad Municipality provided facilities under the government's program to grant approvals from the National Investment Commission and planning and height approvals from the Baghdad Municipality."
He continued, "The Baghdad Municipality is proud to give approval for the first skyscraper in the heart of the capital, Baghdad, within the new Downtown complex of the city of Baghdad."
Musa pointed out that "Baghdad Municipality is proceeding with reconstruction projects on government lands and even private sector lands."  

The Managing Director of Marfaa Al-Khair Company, Ammar Hamid Al-Sudani, explained to the Iraqi News Agency (INA) that "the project consists of a height of 320 meters and a height of 80 floors, in the Baiji area according to technical specifications."
He added, "The project includes commercial and residential facilities, conference halls and a panorama," noting that "the company addressed the fear of heights in the design through designs that extended for a year and a half."
He stressed that "the pillars, mechanisms and materials used in the Iraq Tower are used for the first time from Iraq," explaining that "the material ggbfs was used in the construction of the new Central Bank of Iraq building."
Al-Sudani pointed out that "the sales centers are currently closed until the completion rate reaches 30%," stressing that "the government and Baghdad Municipality have provided great cooperation by overcoming obstacles and approving the decisions of the Supreme Committee to convert the type of land from agricultural to residential." 

LINK

RV UPDATE BY MILITIAMAN, 19 OCT

 Militia Man 

 Article quote: "The Minister of Finance and The US ambassador today discuss efforts to achieve economic reforms...

They strengthened bilateral relationships between the two United States and Iraq with a focus on economic cooperation."

  I like that part. 

"The meeting discussed the development road project that connects Iraq to Europe through Turkey and is one of the largest strategic and vital project making Iraq the link between Asia and Europe."  

That is unbelievable and it's given a finality to it.  I like it...

MELANIA HINDS: 💥IRAQI DINAR HOT SWEET SUMMARY💥 #iraqidinar #dinar #centralbankofiraq #g...

"ELECTRONIC PAYMENT SYSTEM REACHES OUT TO THE INTERNATIONAL WORLD!!!"....F26 BY FRANK26, 19 OCT

 KTFA 

FRANK26: "ELECTRONIC PAYMENT SYSTEM REACHES OUT TO THE INTERNATIONAL WORLD!!!"....F26

Al-Alaq: The Central Bank has taken steps to promote the use of electronic payment

10/14/2024

 

Baghdad
 

The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, confirmed today, Monday, that the Central Bank has taken steps to enhance the use of electronic payment.

The bank's media office stated in a statement received by "Al-Eqtisad News" that "Al-Alaq received the Ambassador of the Federal Republic of Germany to Iraq, Christiane Homann, and during the meeting, they discussed banking relations, enhancing the financial inclusion plan in Iraq, and the importance of digital transformation, in addition to providing full support to Al-Riyada Bank for financing small projects,  which will launch its services soon."

He added, "During the meeting, the plan to reform the government and private banking sector was reviewed, with direct support from the Prime Minister, to achieve a stable, secure and efficient sector." 

Al-Alaq stressed, according to the statement, that "there is a great desire among citizens to use electronic cards, which enhances electronic payment in Iraq, as the Central Bank of Iraq has taken many steps in this direction in coordination with the relevant authorities."

He explained that "Riyada Bank will provide its services to an important segment of customers, as it aims to provide support to emerging small and medium enterprises, as it will be a bank different from other banks through its unconventional products that will contribute to creating job opportunities for various social groups in society, and open new horizons in a stable investment environment," noting that "there will be representative offices in most Iraqi banks to facilitate customers' access to it and benefit from its services."

For her part, the German Ambassador expressed her country's "readiness to provide advice and technical support for such important projects that support the common goal of diversifying the Iraqi economy." 

LINK

RV UPDATE BY CLARE, 19 OCT

 Clare 

 Article:  "Iraq Increases Reserves at IMF by 50%"  Quote:   "Iraqi Cabinet...approved an increase in Iraq's quota at the International Monetary Fund (IMF) by 831.9 million Special Drawing Rights (SDR),

 equivalent to 1.45 trillion Iraqi dinars [$1.1 billion] based on the exchange rate as of October 8, 2024. 

This 50-percet increase...will enhance the country's voting power within the IMF...

The IMF created SDRs as an international reserve asset to supplement member countries' official reserves...

They serve as a potential source of liquidity for IMF member nations."

EXCERPTS FROM MARKZ: " REDEMPTION CENTERS ARE WORKING THIS WEEKEND" @DINARREVALUATION

Parliamentary Economic Committee Expects To Vote On Economic Reform Law Soon, 18 OCT

 Parliamentary Economic Committee Expects To Vote On Economic Reform Law Soon

Buratha News Agency1392024-10-17  The Parliamentary Committee on Economy, Industry and Trade expected the vote on the economic reform law to be held in the coming few days, as the committee’s deputy chairman, Yasser Al-Husseini, stated that “the law reached the House of Representatives in general and the Economy Committee in particular months ago, and it includes all laws that include the economic aspect,” according to the official Al-Sabah newspaper.

He added, "The committee held many workshops at all levels, whether for businessmen or industrial and economic experts," stressing that "the committee is proceeding with reading this law and working to vote on it during the next stage in cooperation with other specialized committees."

Al-Hussaini explained that "there are comments, whether from the representatives or from the experts, and they will be included in a paper prepared alongside the law," noting that "the committee is determined to vote on it with the available capabilities because it sees it as important in this law, which can bring about major reform in the economic reality of the country."

He also stressed the "importance of the Industrial Investment Law for the public and private sectors, to accurately diagnose this partnership," indicating that "the contracts concluded in accordance with this law will be beneficial and profitable for both parties, unlike some contracts whose negatives outweigh their positives in the industrial sector, and which oblige the state to long-term, impossible conditions."

He added that "the committee is proceeding with voting on the industrial investment law, which is no less important than other laws, despite some objections that have prevented voting on it so far," stressing that "the final stage of voting has been reached after consensus was reached between the political blocs objecting to its wording."   https://burathanews.com/arabic/economic/451753

EXCERPTS FROM MARKZ: "I still believe all currencies are going together", 18 OCT

 EXCERPTS FROM MARKZ

Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?

Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?

Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.

Member: you can go twice if they revalue at different times.

Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo 

MZ: I still believe all currencies are going together. 

DINARLAND UPDATE: THE RV WILL OCCUR AFTER THE NOV 5TH VOTING @DINARREVAL...

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week, 18 OCT

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week

10/17/2024  Mawazine News – Economy  The Iraq Stock Exchange announced today, Thursday, that shares worth more than 18 billion dinars were traded during five sessions this week, which is the third week of October.

According to market indicators, the number of shares traded during this week exceeded 19 billion shares, with a financial value exceeding 18 billion dinars.

The ISX60 market trading index closed at 970.86 points in the first session of the week, while it closed at the end of the week at 988.86 points, achieving an increase of 2.80% over its closing at the beginning of the week.

The ISX15 market trading index also closed at 1060.47 points in the first session of the week, to end the week at 1074.75 points, achieving an increase of 1.33% over its closing at the beginning of the week.

During the week, 4783 buy and sell contracts were executed on the shares of companies listed on the market, reflecting a noticeable activity in  trading. https://www.mawazin.net/Details.aspx?jimare=256036

Coffee with MarkZ. 10/17/2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning and Hope Springs Eternal!!

Member: Well I hope today is our day!

Member: [blink blink] it’s Thursday already over half of October gone. Time flies when you’re not having fun, lol.

Member: The RV feels like a buddy waiting to ask his girl to marry him … quit dragging your feet, and do it already.

Member: Mark, what is the good word for today?

MZ: “Iraq Parlianment expects to vote on Economic Reform laws soon” 

Member” “Soon” is a 4 letter word.

MZ: This has to do with the Industrial investment law, and to me this is very important and one of the clear signs that we saw in their “white papers”. They are spelling out everything they have to do to support a higher rate.  They are doing the economic reforms to support this higher rate and lift up all Iraqis. 

Member: Wondering how many steps are in Iraq before the process is done and we can RV?

MZ: “ Today Kurdistan government announces September salary payments”  they used to be a year or 6 months behind…but now in October they announce paying September salaries. To me this means money is moving. This is n HCL requirement that is happening. I think HCL is done and they are hiding the announcement. 

MZ: “Finance launches third issue of Injaz government bonds for public subscription”  these are all brand new investment bonds in Iraq. It has a heck of an interest rate and stays denominated in IQD. The first round was only for Iraqi citizens but now it looks like this round is open to all others. I am hoping we have a revaluation before the bonds can be purchased 

Member: The Injaz/Enjaz will be available April 15th through May 15th. interesting timing

Member: Any historic bond news or is it quiet as usual?

MZ: No money movement yet….some of the other bond holders had to put together more paperwork and are scheduled for next week. These are bonds that are other than the German bonds. We ned them to start seeing real spendable money. That will be when we start celebrating  

Member: I think  all the silent bond holders are under a nda possibly?

Member: How many times do they need to update paperwork and get put out another week?? Sounds like a big circle jerk session to me.

Member: They are supposedly working on German bonds now…Mark is talking about other bonds like Asian bonds and Zim bonds for next week. 

Member: Mike Bara thinks maybe Iraq will go alone at first

Member: Iraq may be sick and tired of waiting on the rest of the world ….I sure am 

Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?

Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?

Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.

Member: you can go twice if they revalue at different times.

Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo 

MZ: I still believe all currencies are going together. 

Member: (From dinar Guru)Guru Mnt Goat  Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer...lower denominations ...when you take money out of circulation...You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are...doing this redenomination...to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate...

MZ: Yes….spot on

Member: Last night, Frank said the first payroll is retro back to Feb thru August at the old rate, the second (possibly two weeks later?) is supposed to be at the new rate...

MZ: It could be….but to me it makes more sense to pay them at the old rate and then change the value. 

Member: Did iraq just open a dinar redemption center?

MZ: They opened “deposit only” banking locations  to deposit cash in for the electronic banking system. The Iraqi people have more faith in the banking new banking system that is effective and efficient and cleaning up corruption from businesses. They can trace every transaction. And when the value changes…they don’t have to rush to the banks. 

Member: I recently heard to expect the RV between the 22nd and 26th of October

MZ:  Based on what I am hearing out of the bond side…that makes sense. 

Member: it is getting real ppl, get ready if you are not already

Member: Let's get this RV party started

Member: Thank you Mark for being a beacon of positivity .

World Court Greenlights Iraq's RV: What It Means

Starting From Rafidain Bank.. Al-Sudani Stresses The Importance Of The Banking Sector Reform Project, 18 OCT

 Banks  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting."

During the meeting, "a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking. These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the subject of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially by the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."  https://economy-news.net/content.php?id=48839