"THE BANKING SYSTEM WILL EXPLODE IN 2024!!!". BY FRANK26, 4 MARCH

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FRANK26: "THE BANKING SYSTEM WILL EXPLODE IN 2024!!!".........F26

Iraq’s banking system grows 15.1% in 2023 to $156.7 billion

 

 March 31, 2024

Baghdad (IraqiNews.com) – By the end of 2023, the total assets of the Iraqi banking system had grown by 15.1% annually to $156.7 billion. This was mostly driven, according to Rabee Securities, by the 15.3% increase in deposits to $101.9 billion.

The largest contributor to overall deposit growth was current deposits, which increased 17.2% to $82.1 billion and accounted for 80.5% of all deposits in the banking system.

Additionally, the total deposits of the private sector climbed by 14.7% in 2023 to reach $43.2 billion, while the deposits of Iraq’s Central Government increased by 22.7% to $36.1 billion and the deposits of public institutions increased by 6.1% to $22.6 billion.

“As a measure to control the FX flow into the banking system, the CBI now allows a limited number of banks to participate in the CBI foreign currency window and engage in USD transactions,” said Aysegul Ozge Ozgur, Head of Research at Rabee Securities

“National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among these banks that have been permitted to engage in such activities, thus, they are benefiting from an expanded market share in USD transactions,” added Ozgur.

There are 61 commercial banking institutions in Iraq, according to Rabee Securities, made up of 54 private banks (25 non-Islamic and 29 Islamic) and 7 state banks (one Islamic and six non-Islamic).

In terms of Return on Average Equity (ROAE) and Return on Average Assets (ROAA), the National Bank of Iraq, Bank of Baghdad, and Al-Mansour Bank are among the most profitable ISX-listed banks. In 2023, their balance sheets and income statements showed remarkable development.

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Salah adviser to the prime minister BY NADER FROM MID EAST

"RV UPDATE" BY BRUCE, 4 APRIL

BRUCE

Tues. 2 April 2024 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#: Tier4b can expect emails to set appointments anywhere from  Wed. 3 April at around 11 am EST to Fri. 5 April morning.

 A Wells Fargo Executive said the emails would be sent out sometime from Thurs. 4 April to Fri. 5 April morning.

An encrypted message to Bruce from a big Source said the emails should go out within 1-2 days. Bond Holders were expecting emails to make them liquid anywhere from Wed. 3 April to Thurs. 4 April. Tier4b should go 12 hours after Bond Holders were liquid.

A digital platform to enhance e-governance programs, 4 APRIL

 A digital platform to enhance e-governance programs

 
The first 04/04/2024
 Baghdad: Israa Al-Samarrai 
 
The Communications and Media Commission has identified the advantages of the digital platform that it launched a few days ago, for reserving the Iraqi domain (com.iq) and (net.iq), which aims
 
to 
 
      enhance Iraq’s national identity and 
 
     introduce modern digital technologies into its commercial dealings with the aim of 
 
     enhancing its international standing. 
 
The authority’s official spokesman, Haider Najm, said in an interview with “Al-Sabah”: 
 
The authority was keen to launch a digital platform to reserve the Iraqi domain (com.iq) and(net.iq), and thus 
 
companies can now reserve their own domain, indicating that the 
 
authority has approved the use of The latest technologies in the Iraqi domain digital platform. He added that the 
 
platform will provide its services for management and financial payment, and will also enable companies to choose the name they wish to reserve and pay the financial costs for the domain through DNS control, to which the domain that has been reserved will be linked through a specific website designated by the Authority for that purpose.  Najm considered 
 
the platform for the Iraqi domain to be one of the most important programs that his department was keen to implement and make available to users, as 
 
it enhances the work of electronic governance. 
 
It will also provide a digital platform for reserving the Iraqi domain without any problems. 
 
It will also create a qualitative breakthrough for companies operating in the country through my website (com.iq). And (net.iq). He stated that 
 
payment of fees for the Iraqi domain has been made available to every user through digital technologies, and the 
 
cost of each digital domain varies from one person to another or from one company to another, and is according to its size, capacity and number of characters, noting that 
 
domain reservation has been activated for companies first, while the 
 
coming period will witness the availability of reservation. 
 
The Iraqi digital domain is officially available to citizens.  
 

"RV UPDATE" BY BREITLING, 4 APRIL

 Breitling  

Do I believe in their [Iraq's] business plan?  Absolutely.  Do I know where the value is coming from?  Absolutely.  Artificial inflation...

They have more customers and they're selling even more energy.  How can it be at a 10th of a penny?  Nobody can tell me this.  Well Tony they printed too much currency.  Hallelujah, praise Jesus!  Why did they print too much currency?  Why do they have too much currency?  Did somebody tell them to do that?  Was it Abraham Lincoln? 

 Who was it?  And why are they doing it?  And now you can start putting this together. 

  It's artificial inflation .  They're selling their energy in the US dollar and that's what's backing up their currency.  It's a massive opportunity.  But that's the power of inflation.  That's what happened to Iraq and they're going to get out of it...  

"THE DIFFERENCE BETWEEN KUWAITI RV & THE IQD RV" BY BREITLING, 11 MARCH

 Breitling 

  Question:  "The difference between Kuwaiti revaluation and the Iraqi dinar - what's the difference?"

  It's a completely different model...Kuwaiti got invaded. Saddam Hussain stole the printing press, the Kuwaiti version of the Treasury.  Stole everything... Iraqi dinar was completely different.  It was planned. 

 They knew the old Iraqi currency was going to collapse.  We injected their economy with dollars and euros.  That's when they took the old dinars off the streets and introduced the new dinar you and I have.  It's a completely different model.  There's no way to compare.

I think the dinar is going to revalue.  I think it's great.  It's a great opportunity.  A lot of it has to do with its foreign currency reserves which is in the US dollar.  It [Iraq's] is one of the biggest in the world.

"What is Iraq waiting for at this point [to RV]? "  

No body knows...When [Senator] McCain was around those were the heavy hitters.  Those were the guys I would listen to.  This was nothing 'official' but these guys knew what was going on, 'you want to be in the dinar.'  I have some very good friends who didn't buy it and they talked to McCain and he said you better buy this currency. 

 According to them, it should have happened by now.  I still hang out with the same group and to this day nobody knows why Iraq has not pulled the trigger yet.  What's strange is back in the day Iraq didn't talk about it that much, now they talk about it all the time.  Whatever the CBI is looking at, it's starting to look like they need to be there. 

Question: "Why do the [Iraqi] citizens want to keep using the dinar when the value is so low?"  

 Not everybody has access to the US dollar for one thing.   #2 It's artificially low.  A lot of Iraqi's know this.  They know what's  going on.

  There's nothing they can do about it.  That's one of the things, if you watch the parliamentary elections of Iraq one of  the number one campaign promises all these guys make is we're going to add value to the dinar.  They know it's artificially low.    [They look around and think] we're selling more energy, the price per barrel is more, we have more customers and yet the dinar is  [worthless] and we're all running around in poverty.  

Question:  "When it does revalue, when do we get out?  How long do we wait?" 

 That depends on your own needs.  Are you trying to get a house?  Are you trying to pay off a loan?  What is it because once you hit that number get out.  Or if it doesn't go up to that number - Let's say you're trying to make...$250,000 and you realize the investment is only going to get you about $180,000, then get out!   Diversify.  Get into something else.  Don't just stick around.

The only way you can answer those questions is you have to put a piece of paper down and realistically what is it that you want.  You have to be realistic about it.  

You can't say the first thing is I'm going to start off with a $50 million dollar mansion.  Don't be stupid...Let's be a little more practical.  A home over your head, debt free, for you and your family...then you can go for the big stuff.  Your investments are based on that...what it is you want.

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-breitling-16-dec.html

https://dinarevaluation.blogspot.com/2024/03/the-difference-between-kuwaiti-rv-iqd.html

Iraqi Dinar | Dinar Investors Alert Dinar Going To B Great Exchange Rate...

The American Ambassador: Benefiting From Kurdistan's Oil Can Help Iraq Towards Energy Independence, 4 APRIL

 The American Ambassador: Benefiting From Kurdistan's Oil Can Help Iraq Towards Energy Independence

Energy   Economy News – Baghdad  The US Ambassador to Iraq, Alina Romanowski, confirmed that benefiting from the Kurdistan Region's oil and gas will help Iraq towards independence in the field of energy.

Romanowski said on the X platform: “In preparation for the Sudanese Prime Minister’s visit to the United States, I discussed with Federal Oil Minister Hayan Abdul-Ghani Iraq’s independence in the field of energy for the benefit of the Iraqis.”

The American ambassador added: "Benefiting from the oil and gas found in the Kurdistan Region of Iraq can help Iraq on its path toward energy independence."

It is noteworthy that the Iraqi Ministry of Electricity intends to purchase gas from the Kormor field in Sulaymaniyah Governorate in the Kurdistan Region to meet the needs of production stations “in the northern region.”  Views 63  Added 04/03/2024 - https://economy-news.net/content.php?id=42142