Iraqi Dinar Guru updates reveal discussions on currency exchange capabilities, upcoming Visa card launches, and potential rate changes amid political tensions.
Highlights
💳 Militia man discusses fluent Arabic members aiding in currency exchange insights.
🌍 International Visa card launch by the Trade Bank allows cross-border transactions.
📉 Trump warns BRICS nations against replacing the US dollar in global trade.
🏦 Redemption centers will provide set rates, not variable ones for pre-2011 contracts.
🔍 Over 100,000 Dinar Guru members offer real-world exchange experiences.
📅 Baghdad nominated as the capital for tourism in 2025, signaling economic growth.
🎉 Official work in Iraq will pause on December 10 for Victory Day over ISIS.
Key Insights
🤝 The involvement of fluent Arabic speakers in discussions indicates a strategic approach to understanding local sentiment and currency dynamics. This shows the importance of communication in financial dealings.
🌐 The introduction of an international Visa card signifies Iraq’s integration into the global economy, enhancing the ease of conducting transactions abroad and potentially stabilizing the Dinar’s value.
⚖️ Trump’s warning against BRICS suggests a strong stance on the US dollar’s dominance, highlighting geopolitical tensions that could affect foreign exchange markets.
🏦 The establishment of redemption centers reinforces the notion of controlled exchange rates, ensuring fairness and transparency for all investors pre-2011.
📈 The large Dinar Guru community indicates a wealth of knowledge sharing, which can empower members with real-time information and insights on exchange opportunities.
🌟 Baghdad’s tourism nomination for 2025 reflects a positive outlook on Iraq’s economic recovery and potential growth in the tourism sector, which may boost local currency value.
🎊 The suspension of work on December 10 underscores national pride and solidarity, reminding citizens of the historical significance and potential for unity in the face of economic challenges.
The Ministry of Oil stressed on Sunday the importance of reaching an agreement that serves the public interest on amending the budget items on the export of oil from the Kurdistan Region, in order to achieve justice in the distribution of resources.
According to a statement reported by the Media Department of the House of Representatives, and seen by “Economy News”, “the Parliamentary Finance Committee, headed by the Chairman of the Committee, Atwan Al-Attwani, and in the presence of its members and a number of members of other parliamentary committees, hosted the Undersecretary of the Ministry of Oil for Extraction Affairs, in the name of Mohammed Khudair, the Director General of the Legal Department Salam Hamdan Dagher, the Director General of the Economic Department Alaa Al-Yasri, and the Director General of the Oil Marketing Company (SOMO) Khudair Abbas, at the committee’s headquarters, to discuss the amendment of the general budget items related to the export of oil by the region.”
At the beginning of the meeting, the chairman of the committee stressed “the importance of the meeting and the need to invest it optimally to counter any possible changes in oil prices,” stressing “the importance of amending the item on oil export in the budget to address contracts related to the cost of production.”
According to the statement, Al-Atwani pointed to “the disparity in the nature and mechanisms of oil extraction from different fields,” explaining that “the committee will submit its report to the Council for consideration.
”
The statement pointed out that “the committee raised a number of questions about the basic standards related to the cost of production, in addition to the payment of financial allocations, and the extent of compliance with the terms of the contract, with emphasis on formulating amendments that achieve fairness in the distribution of resources, through analyzing data and adapting contracts in line with national requirements.”
For his part, the Undersecretary of the Ministry of Oil reviewed the relationship between the Ministry and the Parliamentary Council to achieve the supreme interest, speaking about “the file of oil exports between the center and the region and the mechanisms for determining the operational and investment costs,” stressing “the importance of reaching an agreement that serves the public interest and achieves justice in the distribution of resources.”
The statement explained that in conclusion, the members of the committee expressed their observations on the file, stressing the need to find appropriate solutions to ensure fairness in the distribution of oil revenues, achieve economic stability and guarantee rights.”
The main obstacle to the resumption of oil exports from the Kurdistan Region is the dispute between Baghdad and international companies over the cost of oil production in the Kurdistan Region.
The contracts concluded between the Kurdistan Region and international companies set the cost of production to more than $26 per barrel, while the Iraqi Budget Law stipulates that it is limited at only $8.
To resolve this situation, the Iraqi Council of Ministers approved on November 5, 2024, the proposal to amend Article (12/II/c) of the Tripartite Budget Law, to include “compensation by the Kurdistan Regional Government of Iraq from sovereign expenditures on the cost of production and transportation.”
The proposal stipulates “compensation of the cost of production and transportation by the Federal Ministry of Finance as advances, at the rate of $16) per barrel, to be settled later” after calculating the fair specuative cost of production and transportation for each field separately.
Question: Mark- are you seeing $3.90 as a rate for the dong?
MarkZ: We have seen as high as $3.90…and as low as .39 cents. We don’t know for certain what the rate is going to be. These are from banking contacts who told me what they are seeing fluctuating on bank screens.
Comment: I hear we have an RV this week.
MarkZ: That’s the word out there…Guess we will see if its fact or fiction. We are very close either way...today and tomorrow are in the crosshairs for pulling the trigger on a reset. There are a ton of rumors for today.
Iraq suspends official work to celebrate Victory Day
he Council of Ministers announced today, Tuesday, that official work will be suspended on December 10th in celebration of Victory Day.
He said in a statement,
"The Council of Ministers decides to suspend official work on Tuesday, December 10, 2024, in all ministries and government institutions, in celebration of Victory Day and the anniversary of the liberation of the land of Iraq from the terrorist ISIS gangs."
{Economic: Al-Furat News} The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alak, revealed the imminent launch of the {Riyada} bank to support small and micro enterprises.
Al-Alak said in a press statement that “Riyada Bank will be with the contribution of Iraqi banks and with the support of the Central Bank itself in order to diversify the productive base, reduce unemployment levels and provide basic pillars for sustainable development and with the support of competent international organizations.” He added that “the Central Bank adopts a financing initiative for the purchase of solar systems and the licensing of (Green Bank) to be the first bank in the region specialized in green finance and renewable energy projects as part of facing the challenges of climate change,” noting that he announced this in a session on (the role of central banks in climate change) held in Cairo.
Regarding the impact of tensions in the region on monetary stability, Al-Alak said: “The monetary position in Iraq is (very excellent) at present in terms of controlling inflation and the high sufficiency of foreign reserves, which enables the Central Bank to be stable, defend the exchange rate, and achieve monetary stability, despite the circumstances surrounding the country and the region,” noting that “the reserve covers our needs, and this is what distinguishes the Central Bank of Iraq compared to other central banks in area.” Al-Alak stressed that the Central Bank’s success in implementing the transition plan in “external remittances, in accordance with international practices and standards, and that it is currently carried out smoothly and transparently – especially covering imports at the official exchange rate – which leads to general stability in prices, as for personal transfers and the use of cards outside Iraq; Its system is being developed to ensure their smoothness, and it was agreed with all concerned companies on new mechanisms to enhance the relevant accounts.”
Israel’s actions are leading to diminishing international legitimacy, loss of support, and potential military defeat, while the narrative will likely be manipulated by Western media.
Highlights
🌍 Israel’s legitimacy as a state is fading in the eyes of the international community.
🏴☠️ They risk becoming a “pariah” state, similar to other rogue regimes.
⚔️ Military strategies based on overwhelming force may lead to diminishing returns.
💔 Ethnic cleansing and genocide are seen as the current solutions, not negotiations.
✈️ A mass evacuation of Israelis is underway, highlighting a shift in demographics.
📰 Western media is likely to reframe narratives to absolve Israel of responsibility.
📉 Long-term strategic viability of Israel is increasingly in jeopardy.
Key Insights
🌐 Diminished Legitimacy: Israel’s actions risk isolating it on the global stage, as many countries distance themselves due to ethical concerns. This could lead to severe political repercussions.
📉 Pariah Status: As international support wanes, Israel may be viewed similarly to historical rogue states, complicating alliances and future negotiations.
💣 Ineffective Military Doctrine: The reliance on overwhelming military force may backfire, as prolonged conflict often leads to greater opposition and resistance.
🔥 Ethnic Cleansing Implications: The ongoing violence raises moral questions, as actions perceived as genocide can lead to significant international condemnation.
🚪 Exodus of Israelis: The current situation is prompting many Israelis to leave, indicating a potential long-term demographic shift that could impact Israel’s stability.
📺 Media Narrative Manipulation: Expect a concerted effort by Western media to reframe the narrative, often shifting blame away from Israel to other parties involved in the conflict.
⚠️ Future Viability at Risk: If conflicts expand, Israel’s strategic position may weaken, posing existential threats to its national security and stability.
t a time when tensions are increasing in the region surrounding Iraq, eyes are looking to the arrival of US President-elect Donald Trump and how he will deal with various files,especially with regard to Iraq and what awaits his dual role that he plays between calming the situation and being a major element in the “axis countries.”
An Al Arabiya report quoted sources close to Republican thinking and Trump about what he might be planning in Iraq, saying that Trump and his aides are determined to confront Iran, and the first step will be to prevent Iran from using…Iraq To smuggle oil, and prevent Iran from exploiting the banking and financial system Iraqi To smuggle Dollar American.
The report added that “the leakage of weapons will be…Iranian to Iraq Syria and Lebanon are a direct target for the Americans, and if they do nothing directly regarding weapons, Trump may open the door wide for Israel to expand its attacks on the Iranians and the factions loyal to them on Iraqi territory.”
He believes that Trump’s arrival and the Americans’ attempt to confront the Iranians, starting with Iraq, will increase al-Sudani’s challenges, and he may find encouragement from Countries Arab and European, but the difficulty will lie in the ability of these regional and international players to contain Trump or Iran, or to help the Iraqi government find the immunity it needs while each party pushes towards its own interests.
Iraq
I wholeheartedly believe PM Al-Sudani needs to make a in-country televised announcement & inform the Iraqi citizens that they have major purchasing power now with the increase rate of the Iraqi dinar currency & in country celebration.
(it’s been 20+ years in the making)
I would really want it to just pop up on the CBI website than International forex as a changed increased currency but I don’t believe that would happen first without…
Iraq Prime Minister Al Sudani/CBI will not let this major opportunity just slip by without him/them taking full credit & providing Iraqi Citizens their blessing 1st in celebration, plus its major political points for him & ally’s for re-election purposes…They want to look good 360 worldwide!!!
(just thinking out loud this sunday)
Al-Alaq: The monetary situation in Iraq is very excellent and the launch of Riyada Bank is imminent
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, revealed the imminent launch of the “Riyada” Bank to support small and micro enterprises, while expressing his optimism about the country’s monetary position despite the region’s circumstances.
Al-Alaq said in an interview with the official newspaper, followed by "Al-Eqtisad News" on the sidelines of his participation in the activities of the Arab Sustainable Development Week (fifth edition) held in Cairo recently, that "Riyada Bank will be contributed by Iraqi banks and supported by the Central Bank itself in order to diversify the production base, reduce unemployment levels, and provide basic pillars for sustainable development with the support of specialized international organizations." The Green Bank
He added that "the Central Bank is adopting an initiative to finance the purchase of solar systems and license the (Green Bank) to be the first bank in the region to specialize in green financing and renewable energy projects as part of confronting the challenges of climate change," explaining that he announced this in a session on (the role of central banks in climate change) which was held in Cairo.
He pointed out that "the Central Bank adopts an unconventional monetary policy that is not based solely on achieving monetary stability using its traditional tools - although this role has priority as a fundamental pillar in achieving economic stability and providing a stable and attractive environment for the business sector and local and foreign investment - as the changes and challenges facing the world and their effects on the national economy require a broader role and new tools to avoid risks and create appropriate and stable conditions, and among those challenges are climate change."
He explained that "the Central Bank of Iraq agrees with the view that climate change has direct effects on the economy, as natural disasters, drought and famine cause a decline in economic growth rates, displacement, unemployment and poverty, which calls for central banks to play a role in confronting the resulting risks, in order to maintain acceptable levels of sustainable development.
" Stability indicators.
The Governor of the Central Bank of Iraq added that during the Cairo session, he provided a detailed explanation of the development process in Iraq during the wars and unjust policies towards Iraq's resources and infrastructure, which led to serious declines in development indicators.
He pointed out that "with the decline of the last waves of terrorism in Iraq and the achievement of security stability, indicators of economic stability began to grow, and local and foreign investment began to take an upward path. The Central Bank of Iraq achieved several basic factors in general stability by combating and controlling inflation, maintaining high foreign reserves, as well as through its initiatives to stimulate economic sectors and provide a safe environment and freedom of movement for investments."
Al-Alaq explained that "the experiences of countries have proven the pivotal role of small and medium enterprises, and therefore the Central Bank pays great attention to this issue," pointing to "the roles required and expected from central banks in the face of climate change challenges; including ensuring financial stability by assessing the risks associated with climate change that require monitoring and developing tools to measure them and conducting climate tolerance tests that simulate the impact of climate events on the economy and the financial sector, and encouraging green financing by including environmental, social and governance standards in lending and investment policies,"
Explaining that "the Central Bank of Iraq is implementing these standards in the banking sector with the support of the UNDP, as well as encouraging banks to finance environmentally friendly projects," noting that "monetary policies can be amended to take into account the long-term impact of climate, such as including climate-linked securities in open market operations."
Regarding his participation in the "Sustainable Development Conference" in Cairo, Al-Alaq said: "It is an annual event held by the League of Arab States in cooperation with international and local partners. The title of the current edition was (Sustainable Solutions for a Better Future).
Among its activities was the launch of the first-of-its-kind High-Level Regional Forum on Investment and Sustainability. The forum aims to address the challenges and opportunities related to investment and sustainability in light of global economic trends, climate change and regional fragility. It also aims to create a dialogue platform between governments, investors, banks and development agencies to promote sustainable investment.
We participated with a working paper at the conference."
Digital Transformation
Regarding the digital transformation that the Central Bank of Iraq intends to implement, Al-Alaq said: “There is a broad program, which has a major national dimension for us, which is the digital transformation, which is one of the government’s priorities in cooperation with the Central Bank, and we are working together and with direct support from Prime Minister Mohammed Shia Al-Sudani, to provide the requirements for this transformation, which constitutes a fundamental pillar of the digital economy in general.”
The Governor of the Central Bank stressed that "the government is moving towards diversifying production to advance the banking sector and financial policy, and it is setting programs to achieve the goal and to be aware of international, regional and local circumstances - which are keys to dealing with and proposing programs and plans that are compatible and in harmony with all these circumstances - and there is diversification and strengthening of the national economy, so that the banking sector is active when there is a diverse production base
." Al-Alaq acknowledged that "as a country, we suffer from the fact that the main economic activity is the oil sector, and in connection with the transformation of oil resources into the trade sector primarily instead of employing them locally to serve development goals and diversify the production base, and this calls for the necessity of activating the banking sector by providing the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors and other sectors," indicating that "this trend will lead to reducing dependence on oil resources, as well as providing means for real employment and growth."
Monetary Stability
Regarding the impact of regional tensions on monetary stability, Al-Alaq said: “The monetary situation in Iraq is (very excellent) at the present time in terms of controlling inflation and the high adequacy of foreign reserves, which enables the Central Bank to remain stable, defend the exchange rate, and achieve monetary stability, despite the circumstances surrounding the country and the region,” indicating that “the reserve covers our needs, and this is what distinguishes the Central Bank of Iraq compared to other central banks in the region.”
At the end of his interview with “Al-Sabah,” Al-Alaq confirmed the Central Bank’s success in implementing the transition plan for “foreign transfers, in line with international practices and standards, and that they are currently being carried out smoothly and transparently - especially covering imports at the official exchange rate - which leads to general stability in prices.
As for personal transfers and the use of cards outside Iraq, their system is being developed to ensure their fluidity, and an agreement has been reached with all relevant companies regarding new mechanisms to enhance the relevant accounts.” link
💢🔸15 PROJECT CATEGORIES which were approved by President Trump.
💢These are additional projects which they will have listed -- or if you do not have projects but want to help by donating to a category on their list.
This is what I've been referring to when I say, you can donate funds to the Alliance and still get contract rate without you actually being the frontrunner and managing your own projects.
Some folks don't feel led to do a lot of work or have increased oversight - and that's perfectly ok.
Do what your heart tells you.
1) Energy
2) International / American business
3) Violence / Crimes
4) American Indians / Refugees
5) Housing
6) Technology / Space
7) Agriculture
8) Oceans / Waters
9) Health
10) Spiritual
11) Terrorist
12) Education
13) Finance / Banking
14) Veterans
15) Infrastructure
REMEMBER 💥💥 We recommend that you ask them to NOT invest in any of your Zim/funds to any projects linked to Aladdin, Carlyle or Black Rock as these, historically, have been Cabal companies.
You may ask at your appointment. ✨
A separate appointment just to discuss your humanitarian goals will be plausible / expected. They want the initial redemption / exchange appointments to be quick. More time will be granted for you to solidly discuss your humanitarian endeavors.
Iraqi government: Internal and external debts within safe limits
The Prime Minister's advisor for financial affairs, Mazhar Mohammed Salih, confirmed on Monday that Iraqi debts constitute only 35% of the gross domestic product
Saleh told Shafaq News Agency, "All of the outstanding internal and external debts still do not exceed 35% of our country's GDP, which means that they are within the safe limits of global economic stability standards."
He added, "We should not be too concerned about the issue of the internal public debt and its increase to more than 70 trillion dinars, which is within the standard limits for stability according to the European Union standards that allow the sovereign debt to reach 60% of the gross domestic product.
"
Saleh pointed out that "more than 90% of the domestic debt is held by the government banking system and is borrowing from within government funds and for the benefit of the federal general budget."
He added, "This indicates that the market is not concerned at all with domestic sovereign debts, as domestic debt represents operations within the government's balance sheet, so to speak, and does not pose any sovereign financial risks at all. The efforts of the financial and monetary authorities are combined to adopt a precise policy to achieve the common financial goals in the issue of financial consolidation, the basis of which is not to expand the annual financial deficit in the budget and to gradually reduce the size of the sovereign debt balance to the gross domestic product."
The Central Bank of Iraq revealed that domestic debts rose in 2024 to more than 73.3 trillion dinars link
IRAQ READY TO GO
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alak, said that the country's monetary position is very excellent,
pointing out that there are no real fears of any economic crises occurring here or there
Al-Alak said in an interview with the official newspaper that "the monetary position in Iraq (very excellent) at present in terms of
controlling inflation and the high sufficiency
of foreign reserves,
which enables the Central Bank to be stable, defend the exchange rate,
and achieve monetary stability, despite the circumstances surrounding the
".country and the region
He pointed out that
"the reserve covers our needs, and this is what distinguishes the Central Bank of Iraq compared to other central banks
".in the region
He pointed out that "the central bank adopts an unconventional monetary policy, not only based on achieving monetary stability."
