"RV UPDATE" BY SANDY INGRAM, 22 OCT

 Sandy Ingram

  IQD investors outside of Iraq may have difficulty exchanging the currency.  Why? 

 Because we will not have access to IQD banking. 2.  The IQD may not be available on the Forex market thus not exchangeable by US banks...In other words it is not beyond the US Federal Bank to help Iraq come up with a plan that could exclude individuals with Iraqi dinar but include different countries around the world...

If we do not address this issue there is a real possibility we may have difficulty exchanging the IQD for the USD.   [Note:  Be sure you're on the Dinar Guru Alert list to stay informed about possible exchange procedure updates.  Blue box at top of this page...it's free.]

 Iraq has a secret asset many people are not aware of...the ancient city of Babylon is only 54 miles from the capital city of Baghdad. 

 The gold deposits have not changed.  The only difference Iraq was busy drilling for oil...It is reported gold production value could someday rival or equal oil production value...

This massive amount of gold is still in place in Iraq today.  The eastern Baghdad region, the western desert and the Kurdistan area have all been discovered to have enormous gold deposits.  Mining operations are currently underway...

The Governor of the Central Bank sets criteria to achieve exchange rate stability

 The Governor of the Central Bank sets criteria to achieve exchange rate stability

10/21/2023

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, the progress of several measures to move to the digital economy in direct coordination with Prime Minister Muhammad Shiaa Al-Sudani, while pointing to standards that maintain the stability of the exchange rate.

Al-Alaq said, in his speech during the first banking conference of the Central Bank of Iraq, that “the conference is being held within the framework of continuing efforts to strengthen the banking sector to achieve a stable, safe and effective financial system in light of the rapid changes, developments and challenges that the world is witnessing in the transformations of the structure, financial systems and work rules and the accompanying changes.” Significant progress in the use of financial technologies.”

He added, "Following developments to arrange priorities in the infrastructure of financial systems and business rules is the strategic goal to employ this experience in the right and safe directions and to study the risks associated with it."

He continued, "This is done through: consolidating the compliance rules stipulated in the Anti-Money Laundering and Combating the Financing of Terrorism Law No. 39 of 2015, and applying international practices and standards in a way that preserves the integrity of the financial system from local and international risks and procedures, and in a way that ensures the transparency and safety of financial operations, as well as the transition... From cash economy to digital economy.

He pointed out that "these rules are what preserve the integrity of the financial system, and even protect Iraq from serious risks," noting that there is "a close relationship between the application of these standards and the smooth flow of transfer operations and maintaining the stability of the exchange rate."

He noted that "the phenomenon of the monetary economy constitutes a major obstacle to the optimal employment of cash and the development and stimulation of the economy, and a major challenge to achieving the objectives of monetary policy in achieving monetary stability. It also weakens control and oversight of the movement of funds and increases the risks of financial crimes and illicit practices."

He stressed that "many measures are being worked on regarding the transition to the digital economy, in direct and continuous coordination between the government represented by Prime Minister Muhammad Shiaa Al-Sudani personally, the Central Bank, and the relevant authorities."

This Saturday morning, the first banking conference of the Central Bank of Iraq began in Erbil Governorate.   LINK

Iraqi Dinar🔥Everything Is Ready To Go Finally Today 2023🔥iraqi dinar new...

"RV UPDATE" BY PIMPY, 21 OCT

 Pimpy

 I missed this one when it first came out. Reuters Article:  "Exclusive: Iraq to end all dollar cash withdrawals by Jan 1, 2024, central-bank official says" 

 We should see how this affects the value of the Iraqi dinar. I have a feeling come 2024 we're going to start seeing those increments happen.  They're' not going to be large but at least they're going to be heading in the right direction. 

 Stopping the use of the US dollar is a major step towards strengthening the Iraqi dinar. 

    My concern at the moment is whether or not Al-Sudani is going to be able to keep Iraq out of the middle of the crap that's going on over there..

.95% of the people around the world just want peace and to live and do their own thing...As far as Iraq and dinar is concerned, as long as they stay out of trouble and don't get involved then they should be just fine.

Article:  "Iraq to charge Customs Duties/Taxes "Exclusively in Iraqi Dinars"  This is awesome.  There we go - De-dollarizing, heading in the right direction.

 In Iraq they have the ability IMO to do a controlled free float...People ask me , 'Why doesn't Iraqi dinar free float?' Because it could be very very risky.  They could benefit from it.  They might go in the right direction.  People might think they have something to offer...worth investing into, that they have a bright strong future...which I think Iraq does and I think they could benefit from being on the Forex but they have to have the restrictions removed off their currency...Iraqi dinar is on the local one [Forex].  They're not on the big Forex.  

 There's still problems with the exchange rate...Right now the solution they've come up with is increasing the interest rates for customers if they deposit their money and leave it there [In a bank].

  7.5% is a pretty good size interest rate if you're going to leave your money in a deposit at your bank.  In the past we used to have stuff like that but we don't anymore unfortunately.  

Iraqi Prime Minister Calls for Global Effort to End Gaza Crisis, 21 OCT

 Iraqi Prime Minister Calls for Global Effort to End Gaza Crisis, 21 OCT

At the Cairo Peace Summit, as world leaders convened to address the crisis in Gaza, Iraqi Prime Minister Mohammed Shia Al-Sudani issued a compelling call. A plea for unity, for support, and for swift action to alleviate the suffering of the Palestinian people. 

A Plea for Intervention

Al-Sudani’s words reverberated in the summit’s halls, underscoring the urgency of the situation. The Israeli siege on Gaza, he stated, was not merely a political conflict, but a matter of life and death for thousands of Palestinians. He lamented the ongoing genocide and called on the international community to take immediate and effective actions to stop the suffering of the Palestinian people.

His call was for more than just words. He urged the establishment of a fund to aid the Palestinian people, the lifting of the siege on Gaza, and the opening of humanitarian corridors for the swift transfer of aid. Iraq, he assured, was ready to organize support and aid convoys to Gaza. His call for unity went beyond his country, emphasizing the need for coordination with all relevant nations and parties to unify the stance and present practical steps to the international community.

Consequences of Inaction

Al-Sudani’s statement, however, was more than a plea for aid. It was a stark warning about the potential global implications of the conflict. The current conflict, he warned, could impact global security, escalate regional conflict, jeopardize energy supplies, exacerbate economic crises, and invite further conflicts. His words echoed the fears of many who have watched the situation in Gaza deteriorate, amplifying concerns about the potential for the conflict to spillover into the broader Middle East.

https://bnn.network/world/egypt/iraqi-prime-minister-calls-for-global-effort-to-end-gaza-crisis/

Iraqi Dinar Breaking News Ali Alaq Addresses Iraq's Exchange Rate | No N...

Deputy: 45 countries expressed their desire to cooperate with Iraq in the way of development, 21 OCT

 Deputy: 45 countries expressed their desire to cooperate with Iraq in the way of development

Baghdad - Iraq Today:

MP Baqir al-Saadi said Friday that the development road project has attracted the interest of 45 countries so far.

Al-Saadi said in a press interview that "the development road project is still enjoying increasing international interaction day by day, especially since all studies indicate its success in economic terms, and will develop in 5 important directions in the field of changing the route of international transport from Southeast Asia towards Europe."

He added that "45 countries are interested in the development road project, and some of them have officially announced their intention to invest directly through the implementation of projects in the first phase," noting that "the investments of this project will lead to the establishment of 10 new cities on the route from Basra to the border with Turkey."

"The project will mark the beginning of changing the face of the entire region in terms of economic activity and the development of land routes that annually transport hundreds of billions of dollars worth of goods," he said.