As I was looking through all my old Dinar related documents, I came across one from 2012 which listed all the things that needed to take place for the RV to happen.
US to work with Iraqi government, CBI, Financial Intelligence to prevent sanction evasion: spokesperson, 25 SEPT
Shafaq News/ The US recognizes "opportunities" in Iraq's financial sectors and works with the Iraqi government, Financial Intelligence Unit, the Central Bank of Iraq (CBI), and other banks to prevent fraud, sanction evasion, and terrorism funding, a spokesperson to the US embassy in Iraq revealed on Sunday.
"The United States and Iraq have a strong working partnership, and the U.S. Treasury relationship with Iraq is important," US Diplomat Danielle Korshak told Shafaq News Agency, "For years, Treasury has worked with Iraq to improve transparency in financial transactions, prevent criminal and corrupt actors from accessing the international banking system and smuggling their illegal proceeds, and to bring Iraqi banks into compliance with international standards."
"Iraq has made significant progress since then in taking due diligence requirements seriously," she explained, "one positive example is the work done on international wire transfer requests; the Central Bank of Iraq is ensuring banks are acting transparently and in line with international practices."
In addition to creating new opportunities, these joint efforts, according to Korshak, have provided protection to the resources of Iraqi people and a trajectory towards "increased connectivity" between Iraqi banks and the international financial system.
Korshak said that the U.S. Assistant Secretary for Terrorist Financing and Financial Crimes Elizabeth Rosenberg traveled to Baghdad, Iraq, September 12-13.
Rosenberg, according to Korshak, met with Iraqi Prime Minister Mohammed Shia al-Sudani and leaders at the Central Bank of Iraq, Trade Bank of Iraq, the Iraqi Financial Intelligence Unit, as well as representatives from the Iraqi private banking sector.
"Both sides, recognizing the opportunities and challenges ahead for further improving the Iraqi financial sector," she said.
They also agreed to "continue working together and take positive steps towards meaningful and lasting reforms that will raise Iraq to international standards and prevent fraud, sanctions evasion, terrorist financing, and other illicit activities."
The US diplomat said that Prime Minister Sudani also met with U.S. Department of Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson on the sidelines of the United Nations General Assembly in New York on September 18.
The meeting discussed "the continued progress toward strengthening Iraq’s financial sector."
"The U.S. Treasury continues to work closely with the Government of Iraq as it seeks to implement meaningful reforms to strengthen the Iraqi financial sector against fraud, sanctions evasion, terrorist financing, and other illicit activities," Korshak concluded.
Iraq's central bank to curtail international transfers in 2024, governor says, 25 SEPT
Judy Note:
With that said, this next week was expected to be very dramatic.Bankruptcy of the world’s largest real estate company, China’s Evergrande, plus expected Oct. 1 shutdown of the US Government due to bankruptcy of US Inc, and with an ever-growing demise of the fiat US Dollar, a Global Financial Crisis was on the horizon – that appeared bound to instigate a Global Currency Reset very, very soon.
Global Currency Reset:
Central Bank of Iraq: Important transformations in external transfer mechanisms
September 24, 2023
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, announced that the bank will proceed to dispense with external transfers “next year” and that banks licensed in Iraq will rely on correspondent banks in external transfer operations, as transfers through correspondent banks reached 60% of the total transfers ( outside the Central Bank’s electronic platform), while the implementation rate of verified transfers reached more than 95%.
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.
pic
His Excellency 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 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, Euro).
His Excellency stressed that the coming year will witness the restriction of all internal commercial 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 the official transfer channels and the provision of the dollar at a price of (1320) 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” because it It relates to cash dollars 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 of operations, enjoys international acceptance and praise, is consistent with the law on combating money laundering and terrorist financing, and achieves an important initiative for direct relations between Iraqi banks and accredited international banks.
The meeting reviewed the mechanism for establishing “Riyadah Bank” and the societal importance that the bank will have, especially since it is consistent with the directives and vision of the honorable Prime Minister. Discussions were raised on this topic, including the banks’ contributions to establishing “Riyadah” and the working mechanisms of this bank, which will be effective for those wishing to open projects.
Productive and small businesses that contribute to developing the local economy and reducing the unemployment rate with direct support from the Central Bank.
Central Bank of Iraq
Information Office
September 24, 2023
Frank26 [Iraq boots-on-the-ground report] FIREFLY : All banks according to Mr. Sammy have stopped all cash transfers from today to J...