ERBIL: ENDING WITHDRAWING OF THE DOLLAR VIA ATM MACHINES BY DECISION OF THE CENTRAL BANK Erbil , 23 OCT

 ERBIL: ENDING WITHDRAWING OF THE DOLLAR VIA ATM MACHINES  BY DECISION OF THE CENTRAL BANK Erbil , 23 OCT

A number of Erbil residents were surprised, on Saturday, by the stopping of the ATMs, which were designated for withdrawing US dollars, in several areas, including the “Empire” complex, which witnesses a large presence of foreign expatriates.

964 Network Banking Source:

We are committed to the Central Bank’s decision issued 3 months ago, which prevents banks from granting dollars via ATM machines, and we have observed a commitment from other banks.

964 Network sources :

There are banks that still issue dollars via ATM machines, and they are subject to stopping at any time.

"RV UPDATE" BY BEARDED PATRIOT, 23 OCT

 Bearded Patriot: “According to the information received, the “stoppage of selling currencies and/ or Bonds” may be activating Sunday 22 Oct. at 11:59 PM. Some various protocols were implemented due to the result or lack of the Speaker of the House being completed in a timely manner. From my understanding is that there were two scenarios or plans on how to move the RV forward:  Public (judicial) and or the second scenario, plan B.

•  As everyone has seen, the government BS that continues regarding Speaker of the House (SOTH) just like it did with McCarthy!  The preferred method was to have our three branches in place and a somewhat stable government so that the Liquidity Phase of the RV could commence, but with the BS of SOTH did not leave a choice on what needed to be done. 
• That’s where plan B kicked in! You have to understand that the Treasuries back is against the wall BIG TIME! With Vietnam and Japan now wanting to join BRICS in a matter of little time….the Treasury has absolutely no choice to move FORWARD to plan B without a SOTH In position. Plan B is actually a good thing for us, but it would have been easier and quickly to move to the liquidity phase with having a SOTH IN PLACE. REMEMBER, the order of liquidity follows these protocols:

1. Military
2. Government
3. Indian reservations, CMKX, F&P’s, etc
4. Adjudicating Settlements
5. T4 a&b
6. Public

PS…..No one expected the childish BS of the SOTH scenario AGAIN…well, maybe the WH did!  They played the back and forth game to expose the BH and rhinos during this voting period.  We DON’T have to have a SOTH in order for our RV! 

 This is why plan B has already been implemented, protocols and security should be completed by this weekend and liquidity SHOULD COMMENCE no later than Tuesday/ Wednesday at the latest! It’s gonna be a fantastic week ahead! Stay positive, faithful, prayerful, and most of all trust our Lord to see us throughout this event! 

Love ya BP

SUDANESE GIVES GOVERNMENT BANKS ONE WEEK TO SIMPLIFY THEIR PROCEDURES, 23 OCT

 SUDANESE GIVES GOVERNMENT BANKS ONE WEEK TO SIMPLIFY THEIR PROCEDURES, 23 OCT

(So this article is a follow on the results of the meeting Al-Sudani had with the CBI and the Bank directors. As you know the Parliamentary Finance Committee announced on Monday that it will host in the coming days the governor of the Central Bank of Iraq and its general directors regarding the lack of control over the exchange rate of the US dollar against the dinar. )

Prime Minister Muhammad Shiaa Al-Sudani directed the simplification of all banking procedures. He also directed the preparation of a proposed list of facilities and simplified procedures to be submitted within a week.

Al-Sudani’s office said in a press statement, “Within the framework of his follow-up to the plan to implement financial and administrative reforms in the financial and banking sectors, Prime Minister Muhammad Shia’ al-Sudani chaired a meeting that included the Governor of the Central Bank and the directors of government banks, in which the procedures and work mechanisms taken to achieve banking reform were discussed.” Which constitutes one of the basic steps for financial and economic reform that the government adopts in its executive approach.”

Al-Sudani stressed, according to the statement, that “financial reform is not just a slogan, but rather a series of terms and procedures that the government is determined to implement without hesitation, and will face all the challenges and obstacles that impede the progress of implementing systematic and thoughtful reform plans.”

The statement added that Al-Sudani “directed the simplification of all banking procedures, and the preparation of a proposed list of facilities and simplified procedures to be presented within a week, in addition to providing a summary of the obstacles that obstruct the banking reform process, and proposing effective and implementable treatments for them, in a way that helps in overcoming the approved traditional contexts, which… This prevents the government’s goal of developing this important economic and service sector from being achieved.”

(We can clearly see by the article news today that the financial reforms are not yet at the place they need to be with the banks. This may very well be a reason why the CBI is stalling the project to the delete the zeros. It is mid October already.)

https://www.facebook.com/profile.php?id=100064727316650

Iraqi Dinar🔥IQD Support $16/$28 USD According To Dr Shabibi Today 2023🔥i...

SUDANI: CUSTOMS AUTOMATION PROJECT IS AN IMPORTANT STARTING POINT FOR IMPLEMENTING FINANCIAL AND BANKING REFORMS, 23 OCT

 SUDANI: CUSTOMS AUTOMATION PROJECT IS AN IMPORTANT STARTING POINT FOR IMPLEMENTING FINANCIAL AND BANKING REFORMS

{Political: Al-Furat News} Prime Minister Mohammed Shia Al-Sudani confirmed, on Saturday, that the customs automation project is an important basis and a starting point for the implementation of financial and banking reforms.

The Sudanese office said in a statement received by {Euphrates News} that “the Prime Minister was briefed on a detailed report explaining the progress of work in implementing the first phase of the implementation of the global system for the automation and modernization of customs (ACYCUDA), and the most prominent problems and challenges and ways to overcome them, leading to the application of the single window for foreign trade, through a comprehensive application of information technology, which contributes to the unification of customs procedures, the issuance of electronic declarations and data exchange.”

The Prime Minister directed “to implement all financial commitments to complete the requirements of the first phase, and to provide the infrastructure necessary for the success of the project,” insaiding “the implementation of technical workshops to introduce this important project, which will support the government’s efforts in developing economic structures according to the foundations of integrity and transparency.”

The Prime Minister stressed that “the customs automation project is one of the most important axes of economic reform adopted by the government within the priorities of its government program, and is an important basis and a starting point for the implementation of financial and banking reforms, in accordance with the government’s vision and approach in applying real trade and combating corruption.”

"RV UPDATE" BY PIMPY, 23 OCT

 Pimpy  

 There's a lot of confusion about whether these banks in Iraq are on sanction and how it is affecting the exchange rate.  Article:  "The Reality of US 'Sanctions' on Iraqi Banks" ...

I've seen articles where they say these banks are under sanctions but if you go to the official website they're not listed there so it's like a gray area.  They're under sanctions but they're not officially under sanctions.  It's like putting them in a 'time-out' is what it is.  

The beginning of January there will be no more use of the US dollar, that should be a major plus for the Iraqi dinar. 

 It shouldn't take very long after that and we should start seeing some increases in the Iraqi dinar exchange rate.

 Humanitarian projects...800#s, numbers on the back screens, somebody with magical codes, redemption centers, all that is bull shit...I'm not saying I don't want to do one [humanitarian project]

 but I'm saying it's not a prerequisite to exchange your dinars...I encourage people to do humanitarian projects...You don't have to do a humanitarian project...but there's going to be an overwhelming feeling to want to do humanitarian projects as soon as it happens..

A SPECIALIST DIAGNOSES THE “REAL REASON” FOR THE DOLLAR’S ​​RISE… AND THE CENTRAL BANK IS “RELUCTANT” ABOUT IT – URGENT, 23 OCT

 A SPECIALIST DIAGNOSES THE “REAL REASON” FOR THE DOLLAR’S ​​RISE… AND THE CENTRAL BANK IS “RELUCTANT” ABOUT IT – URGENT

Today, Friday (October 13, 2023), the economic affairs specialist, Nabil Jabbar Al-Tamimi, revealed the reason for the rise in the dollar exchange rate, in light of the volume of daily “black transfers.”

Al-Tamimi told “Baghdad Today”, “The Central Bank of Iraq is failing to solve the problem of remittances with Iran, and the rise in the exchange rate is related to pressures on foreign exchange in the market and the continuation of black remittances.”

He stated, “Up to 30 million dollars a day cross the border as (black transfers) to feed remittance requests for trade with Iran, Syria, Lebanon, and Turkey as well, and the fluctuation will continue unless the remittance crisis with Iran is resolved in the first place and a suitable transfer mechanism is found for merchants, even if they are in other currencies.” other than the dollar.

(This article speaks directly to another article we read about the customs and tariffs issues. Simply put, not being on the Global Foreign Exchange such as FOREX, is putting damper on Iraq’s ability to conduct foreign trade with a multiple of other foreign currencies. Iraq MUST soon move back to FOREX or these problems will only worsen. You see Iraq keeps kicking the can down the road but they know what they must do. They can complain and complain about the issues with the dollar. The FACT still stands that to get off the dollar they must be able to go a central point of exchange. Its easy to trade with a sole source of currency but when you are dealing with potential of hundreds of currencies then what do you do? )

The $30 million per day is exactly equivalent to the cash sales that the Central Bank sells daily and is supposed to be intended for travelers.

Experts point out that some of these cash sales allocated to travelers leak into the black market and are purchased by merchants to finance their trade with countries banned from the dollar, led by Iran, from which Iraq’s annual import volume amounts to approximately 10 billion dollars.

Others warned of the repercussions of some banks not handing over dollars to “travelers,” while stressing that the continuation of the matter would lead to an increase in demand for the dollar in the parallel market and thus an increase in the exchange rate.

Many private banks and exchange companies are accused of being involved in smuggling the dollar, leaking it to the black market, and seizing large amounts of currency auction sales. The accusations also targeted the National Bank of Iraq (Jordan) of seizing 70% of the Central Bank’s daily dollar sales.

The dollar exchange rate witnessed a noticeable increase in the past few days, exceeding the barrier of 160 thousand dinars per 100 dollars, while the Central Bank took many measures and decisions to prevent the circulation of the dollar in local markets above the official price (1320), but to no avail, despite the fact that the dollar is its only source. The Central Bank, although those who take the dollar, namely private banks and exchange companies, are known to it, but it is unable to control them and oblige them not to leak dollars through fake transfers, according to observers.