DINAR REVALUATION

Thursday, July 18, 2024

NASDAQ Has Worst Day Since 2022, Will Correction Continue? | Jason Shapiro

Iraq plans to build a marine single window for key ports

Iraq plans to carefully change its marine industry, with desires to make a sea single window for Umm Qasr South Port and Umm Qasr North Port in the southern Iraqi governorate of Basra.

A group of experts from the Global Oceanic Association (IMO) visited Basra between June 30 and July 4 and met with authorities to figure out help the nation’s expectation’s to accomplish its objectives, as per the IMO.

All IMO Part States should start utilizing an Oceanic Single Window (MSW), a one-stop computerized stage, on January 1, 2024, for the trade of basic data between relevant specialists and partners took part in the appearance, port stay, and flight of boats.

As indicated by the IMO, the step speeds up cycles and increments worldwide delivery proficiency.

The MSW framework would set aside time and cash since more than 80% of Iraq’s imports stream through the Um Qasr ports.

"REDEMPTION CENTERS UPDATED" BY GOLDILOCKS, 18 JULY

GOLDILOCKS

Re: Redemption Centers (updated 7-15-2024)

"According to the Federal Register, 12 CFR Part 240, also known as Retail Foreign Exchange Transactions (Regulation NN), covers the authority, purpose, and scope of the regulation, as well as the definitions used in the regulation.

Section 240.4 of the regulation states that a banking institution must notify the Board before starting a retail forex business.

This notification must be provided in writing and in compliance with section 240.4, which requires the following:

* Treatment of existing retail forex businesses

* Compliance with the Commodity Exchange Act.

Other sections of the regulation include:

* Section 240.13(d)

Prohibits a related person of a banking institution from having an account with another retail foreign exchange counterparty, unless a person designated by the banking institution sends proper written authorization to open and maintain the account.

* Section 240.12

Requires specific authorization, and no banking institution may directly or indirectly effect a retail forex transaction for the account of any retail forex."

This information should clarify where redemption centers really are inside a bank, and what, is involved in holding a retail foreign currency exchange account.

It is important to note that these guidelines have just recently been updated and amended.

Displaying title 12, up to date as of 7/15/2024. Title 12 was last amended 7/15/2024. (see below)

https://www.ecfr.gov/current/title-12/chapter-II/subchapter-A/part-240

Iraqi dinar ✅ Historic Week for Iraq: Key Updates on HCL and WTO Integra...

Drones target Ain al-Asad Air Base in western Iraq

Two drones targeted the vicinity of Ain al-Asad Air Base in western Iraq, where Global Coalition forces are stationed, an Iraqi security source reported on Tuesday evening.

The source, speaking to Shafaq News Agency, confirmed the attack but did not provide further details on casualties or damage.

Earlier this year, factions within the Islamic Resistance in Iraq (IRI) had announced a halt to operations against US forces in Iraq, leading to a period of relative calm.

This drone attack marks a resumption of hostilities.

IRI refers to Tehran's military allies in Iraq, such as Kata’ib Hezbollah and Harakat Al-Nujabaa, it is a part of the "Axis of Resistance" alongside Lebanon's Hezbollah, Yemen's Ansarallah (Houthis), and other Iran-backed factions.

All groups within the Axis have declared that their attacks will persist until a ceasefire is achieved in the Gaza Strip, where Israel's actions have resulted in the deaths of over 39,289 Palestinians, predominantly children and women. link

"RV UPDATE" BY SANDY INGRAM, 18 JULY

Sandy Ingram

A major financial change in Vietnam...Decree 52 regulates non-cash payment in Vietnam and will significantly alter Vietnam's financial landscape...Decree 52 marks a significant milestone in Vietnam's journey towards a cashless economy. If you have VND bank notes you will need to find out how you can comply with Decree 52 as a foreigner. [We] will research the topic and report back as soon as we understand the procedure. According to the news report the banks have 24 months to comply.. .

There is a high demand for US dollars in countries like Iran and Syria where local currencies have significantly devalued. Entities in these countries are desperate to obtain...physical dollars ...because they are accepted everywhere and impossible to trace...Iran and Syria find it more feasible to obtain dollars from Iraq. The Iraqi market offers cheaper source of dollars...which impacts Iraq's exchange rate dynamics by increasing the pressure on its currency system and contributing to dual exchange rates.