They're really serious about this investing aspect of Iraq...The meeting with the US Secretary of State discussed the activation of the Strategic Framework Agreement, the entry of American companies and the resumption of oil exports through the Turkish port...They're going to help Iraq to be supportive of their currency and the value of that currency because all the income streams are going to be able to support Iraq to get investment projects done...
Iraq has been in the UN in New York since the 18th...
doing things like The Path of Development which is going to shape the face of Iraq's county in the next stage...It's going to be a post oil era...their path to prosperity and growth...Sudani coming to New York is an instrumental step and we'll see if that is THE step that is going to be the beginning...
Sudani Quote from UN speech "The time has come for Iraq to take its natural place in the International community..."
Sudani is saying it's time for us to open up to the world...He said it to the UN...to the World....Iraq is going international how can you deny it? It's completely phenomenal...
Angel1
I do not believe we will get out of September and I do not believe we will see a rate change while Sudani is out of country...This week we focus on the international world. We focus on Iraq's reach. And where is Iraq's reach? At our banks. That's where we are.
Iran and Iraq are discussing the implementation of agreements signed in the field of communications
Yesterday, Saturday, the Iranian ambassador to Baghdad, Muhammad Kazem Al-Sadiq, praised the achievements of the agreements with Iraq, pointing to an agreement in the field of communications that contributed to reducing the costs of phone calls for Iranian visitors.
Iranian media, followed by Al-Iqtisad News, reported that “the Iranian ambassador to Iraq discussed with the Minister of Communications, Hiyam Al-Yasiri, the mechanisms for implementing the agreements signed between Tehran and Baghdad in the field of communications.”
She added, “In the meeting, the Iranian ambassador touched on the successful reception by the Iraqi government and people of the Arba’een visitors,” noting that “this cooperation, especially by the Iraqi Ministry of Communications, with the Iranian parties in serving the Arba’een visitors is a clear example of commitment to the agreements between the two countries.”
According to Iranian media, Communications Minister Hiyam Al-Yasiri announced Iraq’s readiness to implement the agreements between the authorities of the two countries as soon as possible.
According to the Iranian side, providing communications, Internet and data facilities, as well as reducing the costs of phone calls for Iranian visitors, are among the achievements of the agreements of the two parties in order to better hold the Arbaeen ceremonies. link
The Iraqi Central Bank issues a number of new instructions, 24 SEPT
On Sunday, the Central Bank of Iraq announced new instructions for selling USD.
The governor of the bank, Ali Al-Alaq, stated that the rate of verified transfers has exceeded 95%. He also emphasized that the bank is committed to establishing direct channels of communication for Iraqi banks with their foreign counterparts in order to facilitate correspondence and commercial exchange.
He mentioned that starting next year, all internal commercial and other transactions in Iraq will be restricted to Iraqi dinar instead of the dollar.
Al-Alaq has announced that the majority of merchants have now entered into official transfer channels and are providing the dollar at the official price of (1320) dinars in Iraq. The new system of external transfer and sale of the dollar provides protection from risks for all parties involved in the operations.
He highlighted that Riyada Bank will serve as a gateway for those interested in launching small-scale productive and commercial projects that contribute to the growth of the local economy and the reduction of unemployment rates.
GET READY...GET READY!...GET READY! ...$$$$...THE CLOCK IS TICKING...THE COUNTDOWN BEGINS...
Question: Ray, where are we in the countdown...?
RanyRen98 Answer: RIGHT NOW...I'M THINKING HOURS. TIME WILL TELL!! ♫♪♫♪♫ I GOT A FEELIN ...TONIGHT'S GONNA BE A GOOD NIGHT ♫♪♫♪♫ times 2...
ATMs tested and operational today... It’s going to be a superfantastic wknd.
Review your plan and get your documents in order.
First window opens after 4pm est...
MEMBERS ARE CALLING WITH THEIR OWN 3-LETTER STORIES - THEY'RE SAYING LOOK FORWARD TO AN EXCITING SATURDAY! ...Some banks are making appointments for this weekend.
Walkingstick
[Iraqi Banking friend Aki update]
The ATMs are ready to go with the 'new currency'. The CBI was talking with the private banks on when to bring them online. No date was given at the meeting.
But they will be notified when to bring these new ATMs online...
The Iraqi Central Bank sets the date for listing internal commercial transactions in dinars... new instructions
The Central Bank of Iraq has set next year as a date to limit internal commercial and other transactions to the Iraqi dinar instead of the dollar.
The Governor of the Central Bank, Ali Mohsen Al-Alaq, said in a statement received by Al-Sumaria News, on Sunday, that “the bank is proceeding to dispense with external transfers next year and to rely on correspondent banks in correspondent banks in external transfer operations, as transfers through correspondent banks have reached 60%.” of the total transfers (outside the electronic platform of the Central Bank)
W#hile the implementation rate of verified transfers reached more than 95%,” indicating that “this came after an agreement between the Central Bank of Iraq and the US Federal Bank, similar to countries of the world, where central banks do not conduct business.” Executive, and its role is focused on supervision and control
He stressed, during the meeting with the heads of the boards and authorized directors of the banks licensed in Iraq, that “the Central Bank’s endeavor to open direct channels of communication for Iraqi banks with their foreign counterparts in correspondence, commercial exchange, etc. came in intensive stages, while what is currently underway is opening transfer channels in various currencies, including ( UAE Dirham, Turkish Lira, Indian Rupee, and Euro).
He stated, “The coming year will witness the restriction of internal commercial transactions and other transactions to the Iraqi dinar instead of the dollar, except for those delivered to travelers.”
He pointed out that "the entry of most merchants into official transfer channels and the provision of the dollar at a price of (1,320) dinars was a direct reason for controlling the general level of prices and lowering the inflation rate, which is a basic indicator of the effectiveness of monetary policy, and that the black market price is not suitable as an indicator as it relates to the dollar." Cash is for non-fundamental transactions and is not intended for legitimate trade purposes.”
Al-Alaq pointed out that “the new system of external transfer and sale of the dollar provides protection from risks for all parties to the operations, enjoys international acceptance and praise, is consistent with the law on combating money laundering and the financing of terrorism, and achieves an important initiative for direct relations between Iraqi banks and accredited international banks.”
The meeting reviewed "the mechanism for establishing Riyada Bank and the societal importance on which the bank will be established, especially as it is consistent with the directives and vision of the Prime Minister. Discussions were raised on this topic, including the contributions of banks to establishing Riyada and the working mechanisms of this bank, which will be a window for those wishing to open small productive and commercial projects that contribute to... Developing the local economy and reducing the unemployment rate with direct support from the Central Bank.” link
Al-Alaq: Next year will see all internal commercial and other transactions limited to the Iraqi dinar instead of the dollar
Today, Sunday, the Central Bank announced the provision of the dollar at a price of 1,320 dinars, which was a reason for controlling the general level of prices.
A statement from the bank, a copy of which was received by NRT Arabic, stated that “its governor, Ali Mohsen Al-Alaq, announces that the bank will dispense with external transfers “next year” and that banks licensed in Iraq will rely on correspondent banks in external transfer operations, as transfers via correspondent banks amounted to 60 % of the total transfers (outside the electronic platform of the Central Bank), while the implementation rate of verified transfers reached more than 95%.
He added, "This came after an agreement between the Central Bank of Iraq and the US Federal Bank, similar to countries around the world, where central banks do not perform executive duties, and their role is focused on supervision and control."
Al-Alaq confirmed, during the meeting with the heads of the boards and authorized directors of the banks licensed in Iraq, that “the Central Bank’s endeavor to open channels of direct communication for Iraqi banks with their foreign counterparts in correspondence, commercial exchange, etc. came in intensive stages, while what is currently being done is opening transfer channels in various currencies, including (UAE Dirham, Turkish Lira, Indian Rupee, Euro).”
He continued, "The coming year will see all internal commercial and other transactions limited to the Iraqi dinar instead of the dollar, except for those delivered to travelers." link