Banking reform file.. The Governor of the Central Bank discusses it with the World Bank delegation
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Al-Alaq, received today, Thursday, a high-ranking delegation from the World Bank headed by Mr. Farid Belhadj, Vice President of the World Bank for the Middle East and North Africa.
During the meeting, they discussed the efforts of the Central Bank of Iraq to organize and consolidate external transfers in accordance with compliance requirements and international standards, and to encourage merchants to enter the electronic platform to buy dollars by providing facilities and simplifying tax and customs procedures that the government is making anticipated amendments to.
The meeting discussed granting small loans through the "Riyada" bank, which will be responsible for providing various loans with the support of the Central Bank of Iraq and private banks, and working to establish a loan guarantee company, as well as paying attention to compliance and risk standardsfor the development of the banking sector.
The meeting dealt with the conditions of government banks, which constitute approximately 80% of the size of the Iraqi banking sector, and dealt with plans to improve their work, including amending their internal systems to implement institutional governance issued by the Central Bank, and plans to restructure those banks.
In turn, the World Bank delegation praised the efforts and procedures of the Central Bank of Iraq at all levels, expressing its readiness to provide any advice or technical expertise in these areas, and to continue implementing the programs it is working on with the Central Bank. Central Bank of Iraq information Office 24 - August - 2023
Iraq has 3 significant tasks before we will see an increase in the currency's value.
1. Rebuild their infrastructure, which they are actively doing...
2. Making the country safe for citizens and international investors. In other words stopping the assaults against foreign investors. International investors want to invest in Iraq because their investment will be worth more when the value of the IQD increases.
3. Creating additional streams of income outside of the oil industry. Iraq is actively making progress by implementing new factories...road projects connecting Asia to Europe and partnering with a neighboring country to build oil vessels..
Bruce (The Big Call)
[via WiserNow]
…we draw a conclusion that maybe we will…be able to have access to funds from our exchanges on Thursday.…a military source is giving us a timeline that takes us …through Saturday to receive notifications and begin exchanges… Let’s see what happens…We are definitely on a day to day – hour by hour basis.
RayRen98 (TNT)
…A 3 LTR [3 letter agency] IS SAYING TONIGHT OR TOMORROW NIGHT AT THE LATEST…BUT, TIME WILL TELL. LET’S JUST “BE READY” FOR EITHER REALITY.
FIREFLY: The Federal Court is being talked about On Television Channel One saying the decision made was on July 26th that the new budget to be activated and funded within 30 day and we are nearing the date…
We’re at the end of the monetary reform. Everything that we want…is about to be given to the citizens. It’s going to be slowly announced and brought out to them…
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[Iraq boots-on-the-ground report]
FIREFLY: Our government is saying USA defense interest is secured in Iraq for the first time since 2003. Wow! That's when we were at 1 to $3. Iraq agrees on the troops being here in Iraq. I guess Sudani wants you guys here...this is a win-win for all of us.
Judy Note: The Global Currency Reset appeared to be announced on Tues. 22 Aug. 2023 when the BRICS Summit launched BRICS Pay, a decentralized multicurrency digital international payments system.https://www.brics-pay.com/.
Thurs. 24 Aug. Bruce: Bond Holders were told by authorities in Switzerland that they would be notified Friday 25 Aug. and get access to funds on Saturday 26 Aug. Tier4b (Us, the Internet Group) should be notified to set exchange/redemption appointments Saturday 26 Aug. or Monday 28 Aug. at the very latest. Within 24 hours of Trump’s arraignment the RV should be started – or by Fri. 25 Aug. 7:00 pm EST
Charlie Ward said that Tier4b would be able to exchange foreign currencies and redeem Zim Bonds after that Global Currency Reset was announced.
Shelton Levert said that Paymasters would start paying Tier3 after the BRICS Summit ended on Thurs. 24 Aug.
Wolverine claimed that on Fri. 18 Aug. Wells Fargo Bank received the cash release codes and the global launch of the funds took place across the Planet, marking the beginning of the registered global asset redemption program.
THE US AMBASSADOR’S STATEMENTS ABOUT THE RISE IN THE EXCHANGE RATE OF THE DOLLAR AGAINST THE IRAQI DINAR
On Thursday, the US ambassador to Baghdad, Alina Romansky, commented on the reason for her recent tour of Iraqi politicians, and announced that Washington was ready to help Baghdad in the water file with the upstream countries. She also indicated that Iraq’s adoption of the legitimate banking system guarantees the stability of the dollar’s exchange rates.
I went to my summer vacation in America and spent a good time, and I returned to Washington to prepare for important meetings on the seventh and eighth of August, for the benefit of the ministries of defense between the two countries, and the meetings ended and I returned to Baghdad and I thought that I had to meet the Iraqi political leaders and follow up on matters with the Prime Minister and understand what was going on in the five weeks I was away from them.
We will follow the provincial council elections and the extent to which they are free and fair, as well as the Kurdistan Parliament elections, and then the parliamentary elections, all of which are signs of a healthy democracy.
There are several reasons that cause the dollar to fluctuate against the dinar, including the existence of a parallel financial system, and the presence of smugglers and money launderers, which leads to an increase in the price of the dollar.
Returning to a legitimate banking system can create exchange rate stability. I think that there is a misunderstanding about the 14 banks, as no sanctions were imposed on them, but these banks are not allowed at the present time to deal in dollars.
The Iraqi military delegation and the Washington meeting:
This is the first joint military interaction that takes place under the government of Mr. Al-Sudani between high-level officials in the ministries of defense of the two countries. When Minister of Defense Austin came to Iraq in March, he called on the prime minister to send a delegation to Washington to talk about several issues.
We focused on two important points in the last dialogue, how do we continue, build and deepen security relations under the Strategic Framework Agreement, and how do we continue to build that between our security forces in order to improve and build security in Iraq.
The second part was definitely America’s participation in the coalition to defeat ISIS and how we continue to support this activity with our partners, the Iraqi security forces, in order to continue defeating ISIS, and we focused on these two points in the meeting of the two delegations.
US sanctions on Iran and their impact on Iraq:
For several years we have been providing Iraq with expenses to buy electricity from Iran and we have arranged and given exceptions for the Iraqis to pay money through restricted accounts in the central bank and we continue to make these exceptions for Iraq knowing that Iraq must continue to receive electricity.
Part of the policy and goal in supporting energy independence is that Iraq does not have to rely on an unreliable energy partner, and we encourage building a large network with others in the region to develop its energy and be able to provide it to the Iraqi people, and therefore we continue to support the modernization of electricity in Iraq.
Washington’s position on the oil-for-gas barter:
Our coordination targets electricity payments and the arrangements go back several years and do not include the exchange of oil or anything similar. We are studying what appears to be a proposal drawn up by the Iraqi government, but the details should be known from the Iraqi government
Climate change:
Iraq is facing a major challenge with regard to climate change. One of the ways the United States is doing to help Iraq is in the water sector.
(This water issue has absolutely NOTHING to do with climate change as this issue is a very long standing one and is all dependent on trying to make big cities in the middle of a desert. Get it? We need to stop grouping everything as climate change and making it a life threatening crisis. As there is not such thing as the climate change hoax the WEF is perpetrating on us. It is all just a narrative of lies told to us for so long now it is ingrained in our heads and we think it is real. It is a way to funnel our thinking.
The earth is constantly changing and there is not a damned thing we can do to stop it. Instead we must learn out lessons and stay away from hazardous areas regardless of the amount of money we can profit from it, this is the real problem not that earth is constantly changing. Man does it to himself.)
We realize that Iraq has challenges with upstream countries and we can play a diplomatic role to solve some problems, but it is important for Iraq to have the ability to manage its resources. Our main institution that helps in this modernization and development and finding solutions to this situation is the US Agency for International Development, and we have many projects that support solar energy and we have projects that support the Ministry of Water Resources.
The US ambassador commented on the news of a US military build-up to cut the border between Iraq and Syria, stressing that “these issues were discussed between the US and Iraqi Ministries of Defense,” which had been previously denied by the Prime Minister’s advisor, Mohamed Shia’a Al-Sudani.
A member of the Parliamentary Security Committee, Waad al-Quddo, had said earlier that the meeting between the US and Iraqi defense ministers in Washington witnessed a discussion of the movement of the US military build-up to carry out the “mission of cutting the borders between Iraq and Syria,” but the Sudanese advisor denied this.
Ambassador Elena Romanowski’s statements were identical to those of Al-Quddo, as she said in an interview with journalist Saif Ali, that “military activity is part of the natural rotation of American forces to and from Iraq, and these issues were covered when the meeting was discussed.”
In another matter, the US ambassador responded briefly to the Iranian ambassador in Baghdad accusing the US of using the electricity card to delay the street.
In his interview with the ambassador, journalist Saif Ali read a statement by the Iranian ambassador saying that Washington is using the electricity card to fuel the street, and Romanowski responded by saying, “This is what the Iranians are doing.”
The ambassador denied the existence of any American objection to the visit of Iraqi Prime Minister Muhammad Shia al-Sudani to Washington, and said:
The current prime minister is going to New York to participate in the United Nations General Assembly meeting, they told me.
You can check with the prime minister’s office about that.
In the US, there is no decision to prevent the Sudanese prime minister from visiting Washington.
It is important that we agree on a schedule that fits the dates of the leaders, and we discuss when the visit is suitable for both parties.