Government adviser: The monetary strengthening mechanism will maintain financial stability in the country, 4 JAN

 Government adviser: The monetary strengthening mechanism will maintain financial stability in the country

Mawazine News – Baghdad

Financial adviser to Prime Minister Mazhar Mohammed Saleh confirmed on Friday that the Central Bank has adopted the monetary strengthening mechanism to feed the requests of national banks for foreign currency, pointing out that the monetary strengthening mechanism will maintain financial stability in the country.

Saleh told the official agency that “the function of the central bank will continue to go in two directions: the first is to meet the needs of national banks for foreign currency with its correspondents, which confirms that the new monetary strengthening mechanism will work to provide monetary stability by the monetary authority in the two issues of continuing the cash sterilization policy, which is concerned with controlling the local liquidity levels by swapping foreign currency for dinars,” pointing out that “the new monetary strengthening mechanism will maintain a fixed exchange rate of 1320 dinars for every 100 dollars, which will enable the central bank to achieve stability in the external value of the Iraqi dinar by controlling the growth in the cash supply within the operational objectives For monetary policy through the so-called monetary transfer mechanism to achieve long-term intermediate or real goals in stabilizing the general level of prices or reducing growth in inflation rates, in conjunction with the stability of the exchange rate and the growth of the cash supply to stabilise the general level of prices.
Saleh added that “the second trend is the provision of foreign currency to the correspondents of national banks in order to facilitate the stability of the real supply of basic goods and services flowing into the internal market with a high flow, and to make compliance control by disposing of foreign currency at two national levels through the Office for Combating Money Laundering and Terrorist Funds, and externally represented by the role of correspondent banks that undertake the task of scrutinizing compliance issues.”

https://www.mawazin.net/Details.aspx?jimare=258164

TIDBIT FROM JEFF, 4 JAN

 Jeff  

 We need to wait and see if they continue to have currency auctions.  That's an important piece...Today's news suggests the currency auctions have officially ended...

If the currency auctions have ended you are extremely close to the rate change...

This means you're extremely close to the rate change, like say hello to January.  In other words keep your freaking eyes on January...

Withdrawals and deposits suspended for four days at all Iraqi banks!! @DINARREVALUATION #iraqidinar

 

After the electronic platform stopped…Answering questions from Iraqi circles about the new dollar mechanism, 4 JAN

 After the electronic platform stopped…Answering questions from Iraqi circles about the new dollar mechanism

Many citizens have raisedIraqisQuestions about the new trading mechanismDollarinIraqHow to withdraw or buy it after stoppingOfficialTo create an electronic platform.

He said

DeputyThe Governor of the Central Bank, Ammar Khalaf, said yesterday that “the mechanism of work on the electronic platform related to foreign transfers has stopped working, but financing foreign trade continues through correspondent banks according to different mechanisms that are parallel to what is in effect in countries around the world.”Many citizens wondered about the news of the platform that was established.

SumerianNews published on the social networking site “Facebook”, about the electronic platform and its work, and what will happen to the dollar, and whether it will witness

IraqA new rise in currency exchange rates.One citizen said via the comment feature: “What is meant by the electronic platform? Can someone explain?”, while another replied that “the blockade will return to Iraq and the exchange rate will be at least 250 thousand dinars

IraqiFor $100.”Another asked about “the continued arrival of foreign remittances to

IraqAnd giving the currency to travelers,” while another pointed out that “unemployment will return and food prices will quadruple from their normal levels and famine will return to Iraq.”Others praised the decision to stop the electronic platform, considering it “an effective government achievement that will be beneficial in succession and a transformation process that enhances the economic role and prepares for investment opportunities with complete confidence, and that the government is activating the supervisory role over the markets and exchanges and dealing in the dinar only to raise the value of the Iraqi dinar.”Another pointed out that “the platform was a front for theft

DollarThus, imposing control through financial transfer by the bank will contribute to balancing the market and controlling the rise of the dollar,” and another supported him by saying that “this step may have several reasons, such as:1- Controlling the dollar exchange rate: trying to stabilize the price

DollarIn front of the dinar

IraqiBy reducing the flow

Dollar2-Preventing dollar smuggling: If there are indications that

DollarIt is used in smuggling operations or there is an inflation in demand for it due to illegal purposes.3-Strengthening the local economy: reducing dependence on

DollarSupporting the local currency by reducing trading

DollarIn the markets.Possible outcomes: higher prices.

DollarOn the black market if there are no alternatives to meet demand. Impact on traders and businesses who depend on

DollarIn imports, which may lead to higher prices for imported goods.Tightening financial controls to try to prevent fraud and circumvention of policies. Therefore, the effects will depend on how this decision is implemented and the extent of alternative plans to provide

DollarFor the commercial and service sector.”Travelers’ Dollar”It is worth noting that “the Central Bank explained that granting

DollarFor travelers, it continues at airports according to the approved mechanism, which is the best in limiting the occurrence of

DollarFor the traveler, noting that “this decision is part of a series of reforms aimed at facilitating financial procedures and stimulating the economy.”What is the “electronic platform”? The electronic platform for money transfers is a mechanism adopted to ensure the regulation of foreign money transfers and limit manipulation of exchange rates. It works to document commercial operations and transfer funds by banks and financial companies, ensuring more effective control over hard currency flows in and out of the country. Will the cancellation of the platform affect the dollar price?The impact of the cancellation of the platform on the price

DollarIt will be reflected in prices as follows:1- Increased demand for

DollarIn the black market, in the absence of an electronic platform, demand may increase.

DollarIn the black market due to the absence of control mechanisms, which leads to high exchange rates outside official channels.2- Weak confidence in the dinar, as canceling the platform may weaken confidence in the Iraqi dinar, especially if effective alternatives are not put in place to ensure market stability. Weak confidence means that citizens and investors may withdraw their money in dinars and transfer it to

DollarAs a safe haven.3- The impact of smuggling and money laundering, as canceling the platform may cancel strict control over dollar smuggling operations, and smuggling and money laundering practices may expand, which increases the demand for

DollarSignificantly and affects the central bank’s reserves.4- The market depends on supply and demand. With the cancellation of the platform, the currency market may become more affected by direct supply and demand. This may lead to severe fluctuations in the exchange rate, especially in light of unstable economic and political conditions.Will the dollar rise?The government and the central bank can rely on other control tools such as strengthening the role of local banks, imposing strict restrictions on foreign transfers, activating alternative control tools, or pumping more dollars into the market to meet demand and maintain price stability. Investment can also be encouraged and reliance on foreign currencies reduced, to relieve pressure on

DollarAnd strengthening the dinar, all these measures can maintain prices

Dollar.

https://www.alsumaria.tv/news/economy/511638/%d8%a8%d8%b9%d8%af-%d8%aa%d9%88%d9%82%d9%81-%d8%a7%d9%84%d9%85%d9%86%d8%b5%d8%a9-%d8%a7%d9%84%d8%a7%d9%84%d9%83%d8%aa%d8%b1%d9%88%d9%86%d9%8a%d8%a9-%d8%a5%d8%ac%d8%a7%d8%a8%d8%a9-%d9%84%d8%a3%d8%b3%d8%a6%d9%84%d8%a9-%d8%a7%d9%84%d8%a3%d9%88%d8%b3%d8%a7%d8%b7-%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82%d9%8a%d8%a9-%d8%b9%d9%86-%d8%a7%d9%84%d8%a7%d9%84%d9%8a%d8%a9?src=rss&utm_source=thewall360&utm_medium=rss-articles&utm_campaign=rss&utm_term=Rss

FIREFLY: Television is now showing comprehensive approach on how to trade the Iraqi dinar on Forex, 4 JAN

  Frank26  

 [Iraq boots-on-the-ground report] 

  FIREFLY:Television is now showing comprehensive approach on how to trade the Iraqi dinar on Forex.  They got some guy going over documents, page after page, on how us Iraqi citizens can invest in Forex.

  FRANK:  This gentleman is teaching you Iraqi citizens how to invest in the Iraqi stock market because you are soon to have purchasing power to do so. 

 They have never taught you this before because you didn't have the purchasing power to do so..

MAJEED: The CBI will be back on January 7 after the reevaluation happens ! @DINARREVALUATION #iqd

 

Sayyed Al-Hakim: A Call for Iraqis to Prioritize National Security, 4 JAN

Sayyed Al-Hakim: A Call for Iraqis to Prioritize National Security

The head of the National Wisdom Movement, Sayyed Ammar Al-Hakim, emphasized on Friday the critical importance of prioritizing national security and setting aside internal disputes in favor of unity and stability.
 
Delivering a speech in Holy Najaf on the occasion of Iraqi Martyr’s Day, Sayyed Al-Hakim, whose remarks were reported by the Iraqi News Agency (INA), stated: “The region is witnessing profound and rapid transformations that demand heightened vigilance and readiness from Iraqis to address any potential threats to the nation’s security and its political, social, and economic stability.”
 
He further highlighted the impact of ongoing tensions in the region, saying: “The repeated aggressions by the Zionist entity against Lebanon and Gaza, along with its infringements on the sovereignty of neighboring states, have significantly contributed to the current state of instability across the region.”
 
Sayyed Al-Hakim warned that “any disruption or shift in the regional balance of power is likely to exacerbate the challenges faced by Iraq, given its central and pivotal role as the heart of the region.”
 
He urged Iraq to take an active role as a unifying force, stating: “Iraq must act as a compassionate brother, fostering unity across the region, healing divisions, and countering attempts to undermine the stability and security of its peoples. This requires a strategic and informed foreign policy that carefully considers the evolving dynamics and circumstances of the region.”

MAJEED: The CBI will be back on January 7 after the reevaluation happens !!, 4 JAN

 MAJEED

Did you see what I posted this morning?

I did three posts you gotta read it 

The banks are holding it right now until January 7

The CBI will be back  on January 7 after the reevaluation happens …. just to manage liquidity for the currency after being on Forex like India and Egypt.

----

BECAUSE MAJEED SAID SO They are paying the salaries from 2025 budget next week Since 2025 budget doesn’t have a lot of money they have to revalue in order to pay the salaries They will pay Kurdistan and Iraq the delayed salaries from 2025 budget with the new rate Let the party begin

AJ :." Wait for the announcement from Al-Sudani & CBI of the Lower Notes and rate" @DINARREVALUATION

 

In support of Mr. Wise.. Sudanese consultant: Iraq strengthens its sustainable economic partnerships, 3 JAN

 In support of Mr. Wise.. Sudanese consultant: Iraq strengthens its sustainable economic partnerships

 The economic adviser to the Prime Minister, Mazhar Mohammed Saleh, announced that the current government is seeking Iraq to promote sustainable economic partnerships with major countries.

The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram.To subscribe, click here

Saleh said {Al-Furat News}: “Iraq has left the legacy of isolation, regional and international conflicts since 2003, and our country is currently experiencing a very high state of stability with the international economic community and building economic relations that achieve the common interests led by openness to an international strategic investment environment – the development path, which is advanced by the central sub-building in improving transport networks, energy and ports.”
“As well as the establishment of free industrial and economic zones to attract real foreign direct investments with high added value,” he added.

Saleh continued, “Continuing the strength of traditional trade tributaries, especially in the crude oil trade and traditional trade, will remain an important factor in building the interests of our country with the world, by dealing with Iraq’s international partners, which are criticized by major friendly countries, namely India, Turkey, China, Korea, the United States, Japan and brotherly and friendly countries such as the UAE, Saudi Arabia, Iran and the rest of the neighboring countries.”

The head of the Alliance of National State Forces, Mr. Ammar Al-Hakim, said during his speech at the Mass Gathering in Najaf Al-Ashraf on the anniversary of the martyrdom of the martyr of the Mihrab Grand Ayatollah Sayyid Muhammad Baqer Al-Hakim {may his secret} that combating corruption, consolidating security and building a balanced economy is our entrance to building a strong state, while calling for seeking through Iraq to establish long-term economic ties and common interests that our peoples and the peoples of our Arab and Islamic region enjoy.
Mr. Ammar Al-Hakim also stressed the importance of focusing on reconstruction projects, economic development and increasing investments in the country.

EXCERPTS FROM MARKZ, 3 JAN

 EXCERPTS FROM MARKZ

Member: Mark, have you heard word from your bond people today?

MZ: I have so many contacts that have arrived back in their positions this morning in banking, groups and bonds. But I am hitting a wall…..getting silence. Several yesterday said they would check in with me and I am getting nothing. Not sure if its good news or bad news.

Member: I am new…. What is the difference between Tier1, Tier2,Tier 3, Tier 4a and Tier 4b re: payment for RV?

Member: This is older- but I believe it’s still accurate. There are 5 Tiers of folks Exchanging. Tier 1-governments and royalty Tier 2-whales-elite with platforms of currency, corporations, etc. Tier 3-Admirals Group, American Indians, CMKX, large church groups (like the Mormons), etc. Tier 4-all the hundreds of thousands paying attention to intel – internet groups(all of us). Tier 5- those who never paid attn – the general public.

MNT GOAT: The CBI is planning to conduct the project VERY SOON!! @DINARREVALUATION #iraqidinar

 

Foreign Remittance Service, 3 JAN

 Foreign Remittance Service

 January 02, 2025   We would like to inform all licensed banks and all licensed non-banking financial institutions to allow Global Odeme Hizmetleri to provide the foreign remittance service within a credit agreement concluded with this bank, in addition to the companies ( Western Union ) and ( MoneyGram )   For more click here  https://cbi.iq/static/uploads/up/file-173581707031107.pdf        

  https://cbi.iq/news/view/2756     

 ~~~~~~~~~ 

 approximate and incomplete translation of  https://cbi.iq/static/uploads/up/file-173581707031107.pdf   

 All authorized banks

All licensed financial institutions are all authorized

 foreign transfers service /p

 Later on our book No. 456/5/9 in 2021/12/12 and the work controls of the agents of the foreign transfers service providers issued

Under the numbers (353/5/9) on 2021/10/13,

We would like Global Odeme Hizmetleri providing foreign transfers service within an accreditation agreement (Western Union), (Moneygram), 

Above according to the form of the company's contract format approved by this bank: to provide the external transfers service.

With appreciation.    https://cbi.iq/news/view/2756      

TIDBITS FROM BRUCE, 3 JAN

 Thurs. 2 Jan. 2025 Bruce

• Iraq had a new in-country rate on New Years Day

• At midnight tonight EST Iraq will announce the new in-country Dinar Rate and likely will start in-country exchanges this weekend.

• The Iraqi Dinar Contract Rate is very high.

• Tier4b (us, the Internet Group) could be notified to call for exchange appointments anywhere from  Friday 3 Jan. to Sunday 5 Jan.

• The instructions will tell you when to call for your appointment. Please obey that time frame.

• You can ask for the Contract Rate on the Dinar.

• The Med Bed appointments: Zim Holders have priority. You can refer up to 6 people for Med Bed appointments.

• There are well over 6,000 Med Bed Centers in the US.

FIREFLY: Television is now showing comprehensive approach on how to trade the Iraqi dinar on Forex !

 

Consultant Reveals The Mechanism Of The ASYCUDA Monitoring Operations Room And The Gains Achieved, 3 JAN

 Consultant Reveals The Mechanism Of The ASYCUDA Monitoring Operations Room And The Gains Achieved

Money and business  Economy News – Baghdad  Ahmed Ezz El-Din, a consultant for the border crossings networking project, revealed on Thursday the positives of the work of the border crossings’ monitoring operations room that applies the ASYCUDA system and the economic gains achieved, noting that it will greatly reduce the operations of forgery and manipulation of cargo.

Ezz El-Din said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the monitoring operations room at the border crossings, which represents the infrastructure for the (ASYCUDA) system, was finally activated after the completion of the network connection between all the crossings and is of great importance in reducing forgery and manipulation operations. Its activation took time and there were many challenges. Without this connection, it would not have been possible to activate the ASYCUDA system."

He added, "The operations room applied the highest levels and the latest technologies that the world has reached, and the connection was made via (Fiber Optic) technology, which provides high speed. Today, the entry of goods and all operations from the entry of trucks until their exit from the crossings and all customs procedures are subject to the control of the operations room.

" He continued, "An example of this is the (sonar) device, which displays live images transmitted by cameras for all trucks present at the crossing, and monitoring takes place inside the crossing and inside the operations room, which makes it impossible to tamper or even pressure employees at the crossings; because the process is fully monitored."

He stressed that "in addition to that, all operations are automated, such as databases and restrictions, which are recorded and verified, and it is possible to refer to this data at any time, in addition to the availability of backup copies within the National Data Center."

He pointed out that "the operation succeeded in increasing the ports' revenues despite the decline in the number of trucks entering, and activating the room within the (ASYCUDA) system greatly reduced manipulation and smuggling."

He explained that "all employees working in this system have entered courses supported by the European Union and now have the necessary experience to deal with it as employees, and they have also entered courses as trainers to train new cadres."

101 views   01/02/2025 - https://economy-news.net/content.php?id=51552

FRANK26 & WALKINGSTICK : The United States has lifted the remaining sanctions on the Iraqi Banks! , 3 JAN

 Thurs. 2 Jan. 2025 Frank26 and WalkingStick

 Iraq’s foreign minister is in DC, and they have accomplished a lot! 

The new, recalculated Dinar Rate was given to the US Treasury.

 The United States has been paid in full by Iraq. 

The United States has lifted the remaining sanctions on the Iraqi Banks! 

MAJEED: The CBI will be back on January 7 after the reevaluation happens ! @DINARREVALUATION #iqd

 

Government Advisor: Iraq Is The World's First In The Concentration Of Natural Resources Per Square Kilometer, 3 JAN

 Government Advisor: Iraq Is The World's First In The Concentration Of Natural Resources Per Square Kilometer

Politics | - 01/02/2025  Mawazine News – Baghdad  The financial advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Thursday, that Iraq ranks first in the world in the concentration of natural resources per square kilometer, while indicating that the natural resources renaissance project will come in parallel with the development path strategy.

Salih told the official agency, followed by "Mawazine News", that "since Iraq ranks ninth in the world in the value of its natural resources reserves, which exceed $16 trillion in current market value, at a time when it ranks first in the world in the concentration of natural resources per square kilometer,

noting that "the features of the country's future in a comprehensive renaissance will depend on transforming these natural sovereign resources into productive capital assets employed in the movement of diversifying the national economy."

He added, "This requires an economic model in managing and investing in diverse resources (except for oil and gas)," noting that "the closest to mind is the manufacture of natural resources that can be manufactured to generate value-added chains that maximize national income and generate accelerated opportunities for sustainable development in our country, whether towards export or export substitution."

He pointed out that "the natural resources renaissance project will undoubtedly come in parallel with the development path strategy in generating a leading industrial renaissance in the national economy, which is Iraq's outline in building the future of its economy for the twenty-first century in two directions: the first is the export-oriented development model, and the other is the development model directed towards maximizing input-output tables and replacing imports within the national economy.

He continued that "the national market is in the formation and development stage, and the government program strategy is approaching the philosophy of partnership through the concept of the social market, because the state's contribution to the gross domestic product (national income) is close to 65%, and this requires an important role for the state in economic legislation and laws.

Saleh explained that "improving the entity of the national market and building its role stems from two directions: the first is providing market guarantees by approving the Social Security Law for the labor and business sector, and the second is the financing partnership by providing soft financing for the forces generating market activity responsible for absorbing 60% of the labor force,"

noting that "the beginning is in the Riyada program led by Prime Minister Mohammed Shia al-Sudani, by providing the necessary financing to employ youth in productive national projects, in addition to preparing to launch Riyada Bank for the same purpose without neglecting the major role of the Iraq Development Fund."

He added: "In 2037, Iraq will become one of the nations of the housing grant, as young people of working age will dominate 60% of the population," adding that "the national strategy for the private sector will increase the contribution of the private sector to more than 53% of the gross domestic product within the next ten years."

Saleh concluded by saying, “My message to the Iraqi people is to abandon the fear of worrying about the current oil economy and its connection to the consumption cycle, part of whose luxuries we live, and to look forward to a productive era to come, an era of investment in Iraq’s vast material and human wealth, an era of diverse material and digital production that is intertwined with the global economy and the two arms of the path of development and investment in natural resources and diversification of production networks in the national economy that guarantee human well-being and the sustainability of its development in our country.”   https://www.mawazin.net/Details.aspx?jimare=258155

EXCERPTS FROM MNT GOAT, 3 DEC

 EXCERPTS FROM MNT GOAT

now they have it and so will they begin the project now?

My CBI contact has told me on my call to Iraq yesterday 01/01 that the CBI is planning to conduct the project very soon. 

I asked her to define “soon”. I was told VERY soon and that was all of a timeframe she would give me.

 Of course, I laughed at her answer but she was serious in her answer. In these relationships and friendships, you don’t want to push the issue too much and so I just have to back down and see now what happens. 

I trust this person and know her personally from my time spent in Iraq as a soldier. She is only passing on what she knows from her committee on this subject matter. Folks, we just have to sit and be patient. We must stop this intel guru mentality. I am not the person telling about this every day / any day RV bullshit. Get it? We just have to buckle down and wait. It is coming, I assure you.

Iraq's Milestone Step Towards WTO Membership in 2024 & THE ENHANCEMENT O...

AL-HASSAN CONGRATULATES ON THE NEW YEAR: IRAQ IS ABLE TO OVERCOME CHALLENGES, 3 JAN

 AL-HASSAN CONGRATULATES ON THE NEW YEAR: IRAQ IS ABLE TO OVERCOME CHALLENGES

The representative of the Secretary-General of the United Nations in Iraq, Mohammed Al Hassan, confirmed in a message on the occasion of the New Year, today, Tuesday, that the Iraqi people have the ability to face challenges.

The Special Representative of the Secretary-General of the United Nations in Iraq congratulates the Iraqi people and government on the New Year: 

Al-Hassan said in a tweet on the {X} platform, “I congratulate the Iraqi people and the Iraqi government on the achievements made during the year 2024.”

He added, “In 2024, we witnessed great achievements in development and infrastructure, and this was achieved thanks to the strong and ambitious will of Prime Minister Mohammed Shia al-Sudani’s government to improve the lives of Iraqis.”

Al-Hassan continued, “We have great confidence in Iraq to draw a better future,” calling on the Iraqi government to “continue working sincerely to improve services throughout Iraq. Iraq is capable of overcoming challenges and regaining its regional and international standing.”