Al-Mandalawi: The Next Stage Will Witness A Process Of Modernizing The Foundations Of Life In Baghdad
Political Baghdad – IA The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed today, Friday, that the next stage will witness a process of modernizing the foundations of life in Baghdad.
The media office of the First Deputy Speaker of the House of Representatives said in a statement received by the Iraqi News Agency (INA):
“Al-Mandalawi stressed that the areas south of Baghdad deserve greater attention in terms of services and infrastructure development, and utmost efforts must be made to achieve this.”
During his meeting with a number of sheikhs and notables from the regions of southern Baghdad - Mahmoudiyah district, according to the statement,
Al-Mandalawi stressed “the necessity of working hard to eliminate the service and urban disparities between cities and regions located on the outskirts,” stressing,
“his daily follow-up of the process of providing services to citizens and monitoring the implementation of development projects for the budget.” "With those concerned."
He added, "The basis is providing public services to citizens," pointing out that "the next project will witness a process of modernization of all the foundations of life in Baghdad and its various regions." https://www.ina.iq/196650--.html
It takes 5 minutes.. Sudanese advisor: Launching the (Visa Direct) service will contribute to reducing the exchange rate
Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market and its procedures take only 5 minutes.
Al-Shammari added, "The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service."
Today, Friday, Fadi Al-Shammari, Advisor to the Prime Minister, Fadi Al-Shammari, considered the launch of the (Visa Direct) service for transferring money abroad a successful step that will facilitate the work of small merchants, stressing that it will contribute to reducing the exchange rate in the parallel market, and the procedures take only 5 minutes.
Al-Shammari told the official agency, followed by (Al-Oula News): “The launch of banking work during the era of the current government is taking place with a new vision and modern mechanisms, and First Bank of Iraq is the first bank to launch a direct financial transfer service digitally through the (Visa Direct) service.”
He added, “This development is a major achievement that is linked in one way or another with the strategic vision held by the government and launched by the Prime Minister in financial, banking and economic management, and is also consistent with the new directions of the Central Bank in the process of re-evaluating, restructuring, organizing and maturing banking work in Iraq, and we are now witnessing the start of “It will have a significant impact on the commercial and banking reality in Iraq.”
He continued, “We hope that citizens will interact with this banking service, which will contribute to cutting off speculators in the black market, and the Visa Direct service will include many small merchants and will help them access a clear, explicit, official, and legal platform to transfer money abroad easily and conveniently, from account to account, at the official exchange rate.”
He pointed out that “this service will contribute to a decrease in the exchange rate in the parallel market within the framework of ongoing government work to regulate banking work.” Earlier, the Central Bank of Iraq announced the launch of the “Visa Direct” service to facilitate financial transfers, in coordination with the international company “Visa” and cooperation with the First Bank of Iraq.
The bank confirmed that the “Visa Direct” service is for direct financial transfer to the bank’s customers in Iraq, and it was launched digitally for the first time through a special application, and each customer in the First Iraq Bank (FIB) can transfer five million dinars daily, and 13 million dinars monthly, which will be calculated at a price. Official exchange. Central Bank Governor Ali Al-Alaq said during his speech at the service launch conference: “The Visa Direct tool came at the right time to facilitate transfer operations, especially simple transfers at the citizen level.”
He stated, “This tool facilitates the demand for foreign currencies and we are trying to expand access to these currencies in easy ways,” stressing that “the issue of foreign transfers, selling the dollar, and the exchange rate are fundamentally linked to employing as many electronic tools as possible.” link
Iraq’s 100 Trillion IQD Problem: “Hoarded” Notes Need to be in Banking System
On November 3, 2023 By Awake-In-3D
I found this article interesting. I do not know the position of the author, but it appeared in the Arabic-language news website Al-Sabah. What made it noteworthy for me was that it’s the first time I have seen a statement quantifying Iraq’s 100 Trillion IQD outside of Iraqi banks.
This means there is A LOT of IQD notes stuffed away, or “hoarded”, in Mr. Al-Mutwalli’s own words.
I have got to believe that many within Iraq’s economic and political echelons are fully aware that we all hold substantial amounts of IQD.
Or, do they actually believe that most of Iraq’s 100 Trillion IQD is under the mattresses of everyday Iraqi citizens?
Anyway, I seriously doubt that any of our notes will not end up in Iraqi banks until they revalue their currency. Food for thought.
“Official estimates indicate that 85% of the issued cash mass, which amounts to more than 100 trillion dinars, is outside the banking system…” Yasser Al-Mutawalli
Now onto the article…
The article discusses the issue of hoarded money, which is cash that is kept outside the banking system in Iraq.
This large amount of money is not being used for development because people do not trust the banks.
The central bank is trying to encourage people to deposit their money in banks by offering incentives. However, the lack of trust in banks is a major challenge. To restore trust, the article suggests the need for a deposit insurance company to guarantee deposits and provide clear and transparent information about its activities.
The fluctuation of the exchange rate also affects trust. Overall, the article highlights the importance of restoring trust in banks to encourage people to deposit their money and stimulate economic development.
Here is the original article…
Hoarded Money and Depositor Incentives
by Yasser Al-Mutawalli November 1st, 2023
[Translated from original Arabic]
Official estimates indicate that 85% of the issued cash mass, which amounts to more than 100 trillion dinars, is outside the banking system, referred to as hoarded money outside banks. This means that this enormous amount of cash is disabled from performing its role in development. Since banks, through their credit policies, are the driving force behind economic development, their inability to perform this role is hindering our economy from progressing due to the decline in the performance of development banks.
Meanwhile, monetary policy is heading towards stimulating depositors to engage with banks. The recent circular from the central bank urged banks to facilitate procedures and create incentivizing interest rates to attract depositors.
What challenge does this approach face?
The trust factor is the most difficult and fundamental indicator for the success of attracting and mobilizing hoarded funds from the public to deposit them in banks.
Banks worldwide, in all advanced countries, are the primary engine of the economy through their lending policies that contribute to generating benefits for depositors and bank owners by investing funds and achieving profits. They also contribute to implementing projects, thus facilitating the circulation of funds.
However, the Iraqi banks have, honestly and transparently, lost the trust of the public. This is a deep-rooted problem inherited from the actions of some banks due to weak management and the alienation of depositors.
How can we restore trust in light of the new approach?
The public seeks guarantees (insurance policy) to be encouraged to deposit their savings, which requires facilitating deposit and withdrawal operations in an uncomplicated manner. However, the weak banking behavior of some employees and the complexity of instructions in a bureaucratic manner contribute to the public’s reluctance.
The term “insurance policy” refers to the officially designated entity responsible for deposit insurance in the event of the collapse of a specific bank. This is where the role of the deposit insurance company, recently established for this purpose, comes into play.
Here, I have a critical evaluation of the deposit insurance company, with transparency and clarity, stating that its performance is weak, sluggish, and poorly known. It requires the establishment of a regular and influential media unit to continuously market its activities. The company should provide guarantees to depositors by guaranteeing their funds with an official, signed document distributed among all depositors in any bank, holding legal responsibility for deposit insurance. Otherwise, why was it established?
Thus, it can provide partial security that encourages the public to deposit in banks and gradually restore trust.
We cannot ignore the impact of the fluctuation of the exchange rate of the dollar in creating chaos and undermining trust.
However, we are talking about the national currency, which is still strong and there is no problem in depositing and withdrawing it, with the guarantee of the company.
To add more fuel to the fire on Thursday, the House Financial Services Committee passed a bill to prevent the bankrupt Deep State Cabal Federal Reserve from creating a Central Bank digital fiat currency.
The next day onFriday morning 3 Nov. six major banks were Cyber Attacked (but could they just be preparing to switch over to the Global Currency Reset?), while a Global Currency Reset window was opened from then until Tues. 7 Nov.
Apparent Timeline:
On Thurs. 2 Nov. Donald Trump posted “It’s Time” and stated that the biggest event we will have in this country will happen this month of November 2023.
Sat. 4 Nov: When President Trump said the next 7-8 days would be ones to be remembered it took us to Sat. 4 Nov. – the same day that Bond people have been told they would have liquidity.
Starting 1 Jan. 2024 the fiat US Dollar would be replaced by the gold/asset-backed US Note; all such gold/asset-backed currencies across the Globe would be on par 1:1 with each other, Social Security benefits will be much higher and the SS R&R payments would start on a monthly basis.
In the next three to six months the Rodriguez Trust will begin to administer “universal basic income” for citizens of all GESARA-compliant countries. The amount per individual or family will depend on the status, needs, employment level and age of the person/family and will work to encourage people to work if they can.
Global Currency Reset:
Fri. 3 Nov. TNT: A lot of things are happening that pertain to the RV. Banks received memos on Wednesday, Thursday and today in black-and-white- “The Event” is happening. Banks were told that things are in motion ahead of them & going by levels, and waiting to get to them. But it’s in motion. Yesterday, Tony had the champagne out and ready because he was given a two hour window last night. There is another two hour window tonight. He has been told the window but he cannot tell us. But it is supposed to go tonight Fri. 3 Nov to Sat. 4 Nov.
His tonight means anytime after 4 PM until 8 AM. Rates are great. Banks are ready. A three letter agency brought their people in last night thinking it was going to go. Hoping it’s tonight. Everyone is on alert – banks, agencies, Treasury.
MarkZ: “Bond folks are still saying they expect theirs on Nov 4th. I hear the 5th is huge from a number of sources. That would make sense if they go late on the 4th and unleash us on the 5th…..but who knows?”
Fri. 3 Nov. Texas Snake: “Remain alert, keep your phones charged and watch for alerts Sunday (5 Nov.) into Monday (6 Nov.) as a 72 hour window for Iraqi Dinar to be once again recognized by the necessary World Banks to be a tradable currency once again.”
Thurs. 2 Nov. Bruce: Two different banks reported that the window for exchanges to start was from now to Tues. 7 Nov. The window for notification to make exchange/ redemption appointments were from after 5 pm Fri. 3 Nov. to Tues. 7 Nov. mid morning. Other sources said notifications and appointments should occur in the next couple of days. The age 62 and over Restitution Allowance starts activation this weekend, with monies in your account near your SS date. The SS increase in your payment should also be in your SS payment.
Arte on Telegram: “Ok guys I sat down with one of my banks branch managers today. They are Basel 3 and 4 compliant. I asked her about the RV and she said she just got an email coming through that said the Tues. 7 Nov. She’s checking in with her higher ups getting back to me. Her response was, how do you know all this? Lol hooowhooo let’s go!”
Tues. 31 Oct. Mr. Salvage on Telegram: There was a report that “The Paymaster of New York Michael J. Rubin said that everything was done. All money was in all banks and ready to go. All codes were in. The nation of Colombia was already liquid. Just have patience. We are there.”
No Digital Currency for the Deep State Cabal’s Central Banks: On Fri. 3 Nov. the House Financial Services Committee passed a bill to prevent the Federal Reserve from creating a Central Bank digital currency.
Overnight Sun. 15 Oct. the Banks completed the remaining layers of payments, plus the IMF and World Bank held their last meeting.
By Mon. 16 Oct. the Iraqi Dinar had revalued and began trading on the back screens of the Forex.
On Thurs. 26 Oct. President Trump said the next 7-8 days would be ones to be remembered.
On Fri. 27 Oct. the US began pulling 3,600 US troops out of Iraq so Iraq could declare themselves a Sovereign Nation, while the new rate of the Dinar was said to have gone International, although had yet to show on the front screens of the Forex.
Fri. 27 Oct. Alex Collier: “The Dinar went international on Fri. 27 Oct. and on that same Friday they began pulling 3,600 US troops out of Iraq so Iraq could declare Iraq a Sovereign Nation. Two days ago President Trump said the next 7-8 days would be ones to be remembered.”
Craig Wilson: “On Mon. 30 Oct. it was reported that about a week ago, the Iraqi GOI and the CBI, released to the US Treasury, the NEW International Exchange Rate! This came from an Iraqi Bank Partner of a bank here in the USA! It is also believed that the US Treasury has started some exchange steps with the CBI of some of the Iraqi Dinar that the US Treasury holds in its reserves! Sorry it’s not on ABC or NBC or any Fake Stream News yet, but it is from a source that IMO has credible information! That is all, carry on!!
Around Mon. 30 Oct. the country of Columbia revalued their currency – so now we have at least two countries – Iraq and Columbia – which have revalued their currencies, perhaps more.
Oct. 31 All Hallows Eve was when Middle Eastern nations no longer accepting the fiat Petro US Dollar for oil trade, was expected to soon cause a devastating Stock Market Crash – bringing in the need for a Global Currency Reset.
[via WiserNow] ...we got some intel today...and it comes from a very strong source...a military source and the information was...our notifications will come out between after five o'clock Friday [today]...when the markets are closed and the banks are just about closed...to Tuesday, mid morning.
I would say, based on what we're hearing, the fact that the Intel is sort of drying up a little bit, the good and a bad sign, it's a good sign for us in that - It shows how close everything is it shows how the proximity is ready to go.
Walkingstick
Question: "It seems to me the United Staes Treasury wants a new exchange rate for the dinar. Do you think they want the exchange rate not so much to benefit Iraq but for all the Iraqi dinars that we have in our Federal reserves?"
Yes...And the new exchange rate they agreed upon through the RV they gave it to the US Treasury when they went over there last week. That's why they're all excited. They know it's about to happen...Our Feds are pushing for its release to happen now because they got what they wanted...
Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) of China has announced that they have received a letter from Iraq’s Petroleum Contracts and Licensing Directorate (PCLD). The letter confirms the approval of ZPEC’s qualifications for development and operations of oil and gas fields in Iraq.
In a statement released on Thursday to the Shanghai Stock Exchange, the company announced that obtaining this qualification is necessary for its involvement in the exploration and development of oil and gas blocks in Iraq. Furthermore, the company added:
The Iraqi Petroleum Ministry thoroughly evaluated the Company in various areas, including oil and gas field management, financial management, financing capability, legal risk management, operational technology capability, environmental protection, safety assurance, personnel training, and more.
The Iraqi government’s recognition of the Company’s comprehensive strength in the oil and gas field led to the smooth approval of its qualification for oil and gas field exploration and development.
Acquiring this qualification will enable the Company to capitalize on investment and development prospects in top-notch oil and gas fields in Iraq. This will pave the way for the Company’s constant growth and advancement in its oil and gas exploration and development portfolio, and will infuse new vigor into its long-term and stable development.
Going forward, the Company will conduct thorough evaluations of the applicable oil and gas field blocks in line with the bid documents that have been publicly released by the Iraqi Petroleum Ministry. The Company will make wise decisions while taking into account the investment climate of the host country and the actual circumstances of the Company.
The company has been active in Iraq, winning multiple drilling contracts.
