DINAR REVALUATION

Tuesday, June 11, 2024

Iraq Seeks $2.5 Billion Missile System NEW EXCHANGE RATES #iqd #vnd #htg...

Corporate Governance In Iraqi Banks... Enhancing Transparency And Efficiency, 11 JUNE

Corporate Governance In Iraqi Banks... Enhancing Transparency And Efficiency

Time: 06/10/2024 Read: 1,378 times {Economic: Al Furat News} Corporate governance is one of the most important factors that contribute to enhancing the performance and safety of the banking sector.

By applying sound governance principles, banks can improve their efficiency and risk management, and enhance investor and customer confidence.

In Iraq, banks have made great strides in applying corporate governance principles, with support from the Central Bank of Iraq and the Iraqi Deposit Insurance Company.

These efforts have contributed to improving the performance of the banking sector and increasing its transparency, which has had a positive impact on the Iraqi economy in general.

Singapore's experience in the field of corporate governance in the banking sector is an example to follow.

The Monetary Authority of Singapore (MAS) has implemented a set of stringent governance standards, including

disclosure and transparency requirements,

defining the responsibilities of the board of directors and executive management, and

periodically evaluating banks' performance.

These efforts have made Singapore a global financial center with an excellent reputation for transparency and integrity.

In Iraq, the Iraqi Deposit Insurance Company can play a greater role in enhancing corporate governance in banks, by encouraging banks to adopt international best practices in this field, and providing training and guidance to members of the boards of directors and executive management.

It can be said that the Iraqi Deposit Insurance Company represents an inspiring success story under difficult circumstances.

Through its vital role in protecting depositors’ funds and enhancing confidence in the banking system, the company contributes to building a strong and stable national economy.

As its efforts in development and innovation continue, the Iraqi Deposit Insurance Company promises to be an essential pillar in achieving sustainable economic development in Iraq.

https://alforatnews.iq/news/حوكمة-الشركات-في-المصارف-العراقية-تعزيز-الشفافية-والكفاءة

"RV UPDATE" BY TEXAS SNAKE, 11 JUNE

TEXAS SNAKE

A practicing doctor who is a citizen of Iraq living in Texas, a former client of mine has agreed to contact family members in country tonight to determine what the current in country rate of the IQD is today, It is almost 0530 in the morning and he asked if I could await his reply until it is closer to 0800 Iraq time. I will report once he calls me back.

Have received a number of projected exchange rates on Zim IQD and Dong but have been asked not to share but I believe we will be agreeable should these rates be actual.

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Well folks banker feels very positive about what he hopes is confirmed in the morning when he calls me. Will report afterwards either way.

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It was exoressed that several bond holder paymasters had been called to Reno however there is no confirmation of this thus far. Will open for a short time should anyone have some additional info.

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JUNE 6

Texas Snake, [06/03/2024, 10:32:59 p. m.]:

Well it's about 0530 AM in country and the info I am receiving is that the new rates will appear either when the banks open today or they will wait for the FOREX opening on Wednesday to be able to publish the new rate in the Gazette Paper. Wish I had better intel but most of the UK is asleep now.

Not much reason to open as this is all I have at this time...

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Well folks the information I have rec'ed today indicates a number of the large bondholder paymasters have been invited to Reno to begin exchanging their bond portfolios over the next 24 to 48 hour window.

We are then scheduled to begin receiving notification to begin scheduling appointments.

I have this info from 3 sources and am waiting confirmation from the banker, hopefully tonight or early AM. Will open for a short time so any members who have any news can share.

Thanks for all the members joining us and GOD Bless.

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https://dinarevaluation.blogspot.com/2024/06/rv-update-by-texas-snake-6-june.html

NADER FROM MID EAST: UPDATE: Iraq Releases First Four Months of Oil Revenue and They're Domin...

Implementing The Comprehensive Banking System Of Rafidain Bank In 29 Branches, 11 JUNE

Implementing The Comprehensive Banking System Of Rafidain Bank In 29 Branches

Economy | 09:38 - 06/10/2024 Baghdad – Mawazine Rafidain Bank announced today, Monday, the implementation of the comprehensive banking system in 29 branches so far.

A statement from the bank, received by Mawazine News, stated, “In implementation of government directives to adopt modern methods in completing banking transactions and expanding the circle of banking activity using advanced technical devices, Al-Rafidain Bank announces the implementation of the comprehensive banking system in its branches (Anbar and Mosul University), thus joining the branches.”

The comprehensive system was activated in Baghdad and the governorates, in addition to the branches of the border crossings (Zurbatiyah - Safwan - Arar - Trebil) in an important step to abandon paper work and move completely towards electronic transformation.

The bank confirmed that “the plan for digital transformation and adoption of the comprehensive banking system is proceeding according to the set timings to include all branches of the bank in implementing the system, especially since one of the priorities and adoptions of the government program is electronic transformation in financial transactions, reducing episodes of red tape for citizens, and reducing time and effort in completing citizens’ transactions.”

https://www.mawazin.net/Details.aspx?jimare=249435

Monday Evening News with MarkZ, 11 JUNE

Monday Evening News with MarkZ

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 evening MarkZ, Mods and everybody 🙂

Mod: HELLO EVERYONE! HOPE YOUR DAY IS GOING WELL!

Member: Praying this really is our week.

Member: Mark. Did you hear from your Bond Contacts?

MZ: I still have a couple that have not responded today. Hopefully they are getting paid today. The earliest expectations were for late tonight….and more on tomorrow and Wednesday,

MZ: I do have a couple more who were told to expect theirs tomorrow….they were told today that those appointments for tomorrow are still set….and the expectations are that they will complete this time. . . I find this very encouraging.

MZ: If we see that- I believe we can then be excited….and all bets are off on timing.

MZ It’s been very quiet for Iraqi news….and quiet from Reno. Seems like everybody I waiting for the next shoe to drop on historic bonds.

Member: How long after the bonds go- will we go?

MZ: Most of my sources believe we will go within 3 days. That is why I watch the historic bonds and am hopeful this time.

Member: Lots of people are saying Iraq will go soon and by themselves. If they do, can we in the USA exchange them for rubles or another asset backed strong currency?

MZ: Im not worried if they go by themselves…..if they do –I’m prepared. And part 2- if you live in the US they will exchange it for USD and then you will have to buy those other currencies. This is nothing to be worried about.

Member: Mark, we have heard the stock market was gonna crash for so long. Do you think it’s really gonna happen???

MZ: “ Harry Dent predicts Stock Market crash worse than 2008 crisis. The bubble of all bubbles” More economists are starting to realize what we have been telling you all for some time now. Economisst’s are waking up to the manufactured numbers.

Member: Is watching the HCL implementation a good indicator?

MZ: It’s a very good indicator. I was told since very early in this process that this was a key indicator…along with the inversion in the bond markets which we have seen.

MZ: “ Breaking the banks- Senator Lee introduces bill to abolish the Federal Reserve” More and more are waking up. .

MZ: Zester is coming in soon to talk about this. “ XRP ledger ready to adopt tokenized gold and silver in Q3 of 2024” This is a type of de-centralized economy based on real assets that your central banks are terrified of. .

MZ: Bank Note World dropped a video about how to tel real from Fake Zim…..For those of you who were asking.

Mod: REAL VS FAKE ZIM: https://www.youtube.com/watch?v=pIzmxRpkO0A