Babysmom
...WE WON'T KNOW WHAT THE RATES WILL BE UNTIL THE DAY WE EXCHANGE..
.MOST RECENT ANTICIPATED OPENING RATES AS PER RAY [Guru RayRen98] DONG .47... DINAR 3.81...
RayRen98
.. .I DO "BELIEVE" THAT IT HAS BEGUN!! RATES DID CHANGE IN IRAQ LAST WEEK...MAYBE AGAIN OVER THE WEEKEND?
WAITING TO HEAR FROM SOME FOLKS WHO WERE EXCITED LAST NIGHT AND WERE LOOKING TO SEE SOMETHING (BEHIND THE SCENES) THROUGHOUT THE NIGHT...TIME WILL TELL
Al-Kadhimi: The decision to increase the interest rate will activate the banking system inside Iraq, 17 OCT
On Tuesday, the Parliamentary Finance Committee approved the Central Bank of Iraq’s decision to increase interest rates for bank depositors, as it will help revitalize and organize the banking system.
According to Moeen Al-Kadhimi, a member of the Finance Committee, the Central Bank’s decision to increase the interest rate is part of Iraq’s banking reform measures. This is in line with Prime Minister Muhammad Shia’a Al-Sudani’s directive to organize and revitalize the country’s banking system.
“The interest rate increase will motivate citizens to deposit their money in banks. This will boost financial activity and lead to investment in various projects. Additionally, it will positively impact reducing the exchange rate of the US dollar against the Iraqi dinar,” he said.
Al-Kadhimi stated that the Central Bank of Iraq is moving towards full automation of financial transactions within Iraq.
During the 31st session of the Ministerial Council for the Economy held yesterday on Monday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, announced an increase in the interest rate for amounts deposited in banks to 7.5%. This move is aimed at encouraging citizens to deposit their money in banks rather than keeping it outside the banking system as cash.
The oil and gas law will be postponed to the next legislative year.. Representative: We need 6 months, 17 OCT
The Committee for Oil, Gas, and Natural Resources has announced that it needs six more months to create a draft oil and gas law that will be agreeable to all parties involved. The committee also mentioned that the Kurdistan Regional Government has presented a vision for the Oil and Gas Law to the Ministry of Oil. This announcement was made on Tuesday, October 17th, 2023.
According to Representative Ali Shaddad, who heads the Legislation Committee in the Oil, Gas and Natural Resources Committee, this committee is a vital subcommittee within the parliamentary oil and gas committee. Its main focus is on legislation and laws related to the oil and gas sector. In an interview with Al-Sumaria News, he emphasized the importance of the committee’s role in shaping the legal framework for this critical industry.
In today’s meeting, the Oil Ministry hosted the Director General of the Legal Department and a group of jurists to discuss amendments to the laws in the oil sector. Seven laws related to the oil and gas sector were discussed, with a major focus on the National Oil Company Law. Shaddad, who was present at the meeting, explained that some provisions of the law had been canceled, leading many to believe that the law had been repealed, but the formation of the National Oil Company had only been stopped. To revive the law, a set of amendments is required, which is in line with the directives of the federal government to the Oil Ministry.
During a recent interview, Shaddad, an official from the Iraqi Oil Ministry, spoke about the importance of the oil and gas law in the country. He highlighted that a total of 6 meetings have taken place, with 3 of them being with the committee formed by the regional government, and the other 3 with the governors and representatives of the oil-producing governorates. The ministry has developed a preliminary draft that incorporates ideas from both the Kurdish side and the oil-producing provinces. However, repeated meetings will be required to reach a common vision on the oil and gas law. Shaddad also mentioned that council elections may cause a delay in progress for the next two months.
During a recent meeting, it was discussed that it would take about 6 months to create a draft of an oil and gas law that all parties can agree on for the Iraqi provinces. The regional government committee presented their own vision of the law to the Oil Ministry, which includes the specific texts and standards they would like to see included.
According to his statement, the project’s first reading is expected to take place during the third legislative year. The Oil Ministry has been urged to reach a unified vision and draft. The speaker emphasized that only one draft will be accepted. He also acknowledged that there could be fatigue and anger among some parties, but stressed that Iraq needs this law.
During the committee meeting, he emphasized the importance of some of the new projects under discussion, including the draft carbon footprint law and the draft oil-agricultural coexistence law. He also mentioned that a representative from some companies in the oil and gas sector will be included in the Legislation Committee of the Parliamentary Oil and Gas Committee.
The Parliamentary Oil and Gas Committee met with its subcommittee to address legal amendments, including the Oil and Gas Law and the National Oil Company Law, according to Al-Sumaria’s correspondent.
Bueno, amigos nuevamente, hay muchos movimientos positivos en la dirección que deseamos,
pero hasta el momento no se han proporcionado avisos; sin embargo, mantengan la fe al considerar el estado de la economía mundial y las tensiones en el Medio Oriente, el RV sería una bendición para todos.
Stability in Baghdad's dollar exchange rates, increase in Erbil, 17 OCT
The saga about the Iraqi dinar RV only gets better as the months roll on. More and more pieces are put in place for the inevitable revaluation and reinstatemtn of the dinar. It has become not a matter of “if” these events will occur but “when”. We can all speculate but what events are you using in your analysis to formulation your speculative conclusions? What are you telling your audiences? Are you even qualified enough to partake in this effort?
So, how long will we investors in the IQD have to wait before Iraq is allowed to liberate its own currency?
So, I have to ask then – Why is the dinar still 1/6 of a penny?
During this period of collecting information for this edition of the Mnt Goat Newsletter we have learned that the global system for the automation and modernization of customs (ACYCUDA) project is making headway. This system will require a link to the international currency exchange to convert rates of currencies between countries for up-to-the-minute rates. The system is planned to take in any international currency not just the US dollar for payments of customs duties and tariffs. With this is a huge plan to make Iraq a central hub for commerce in the middle east and this revenue, as they told us, could rival the oil revenue. This new ACYCUDA system is due to come online when? – Okay, so does January 2024 sound familiar? Are you connecting the dots yet?
Just be patient, the reinstatement is coming.
PS: Be sure to tune into the POLITICAL section of today’s Newsletter. It is chock full of news about the unprovoked, covert Amas terror attack on Israel on October 7 and the implications it is having on the U.S. woke democratic party that seems to side with the Palestinian terrorists. Really? Folks, you can’t make this stuff up!
God Bless,
Auf Wiedersehen
Much love to ya all,
Mnt Goat
https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/
MILITIAMAN CC HIGHLIGHTS NOTES Summary Militia Man discusses recent developments in Iraq’s economy, including expectations for exchange rat...