STATUS OF THE RV , PART 3
😊Take a peak at the news in article titled “MP: JUNE WILL MARK THE END OF DOLLAR SMUGGLING IN IRAQ”. A member of Parliament Majid Shingal confirmed on Sunday that June will witness an end to dollar smuggling operations, noting that strict oversight will be imposed on the funds of companies, politicians, and influential people.”
“Our transfers are currently considered dollar smuggling, but the situation is now better. I believe that in June, regular correspondence will be adopted, which will significantly reduce smuggling, and may even lead to its near disappearance.”
If you remember last December 2024, the correspondent bank transfer process was put into effect. This eliminated 95% of fraudulent payments. Ali Al-Alaq told us this was an acceptable level, however the U.S. did not agree. They are now talking about a way to get rid of the other remaining 5%. Back in December Iraq was only working with 4 major correspondent banks. Now they have agreements with dozens. This is how they are able to make this claim. However, this is not the entire story to RV but a piece that needed to be resolved. I just don’t want to lose sight of what is really happening. Please do not bench mark June for an RV! I am not saying this is a target.
😊In the article titled “WITH THE PARTICIPATION OF 1,200 LOCAL AND FOREIGN COMPANIES, THE BABYLON BUSINESS AND INVESTMENT FORUM KICKS OFF” we see yet another investment forum occurring. Will this one be successful? The Business and Investment Forum kicked off in Babil Governorate last Saturday, with the participation of 1,200 local, Arab, and foreign companies, showcasing 450 investment opportunities in various sectors. I believe it is different this time and Iraq will attract investors.
More of the same….
😊So, here is yet another article titled “AL-MASHHADANI TO THE AMERICAN DELEGATION: THE UNITED STATES IS ONE OF IRAQ’S MOST IMPORTANT STRATEGIC PARTNERS”.
Just last week, an economic delegation from the American Chamber of Commerce met at the Presidential Palace in Baghdad, Speaker of the Iraqi Parliament, Mahmoud al-Mashhadani, received the Chargé d’Affaires of the US Embassy in Iraq, Daniel Rubenstein. Rubenstein was accompanied by a large economic delegation from the US Chamber of Commerce, including representatives of 57 American companies, headed by Lotus Steve, and a number of company presidents and investors. The meeting was held as part of the US Chamber of Commerce’s economic conference in Iraq.
