Iraqi Dinar🔥Great News About New Exchange Rates Today 2023🔥iraqi dinar R...

"RV UPDATE" BY MARKZ, 16 NOV

 MarkZ  

 [via PDK]   We have some very interesting chatter this evening. I have gotten this from many banking sources that they are expecting instructions very soon. Specifically instructions for “Foreign Currency Exchanges”!!! This is the event that we are looking for.  I have heard this now from 3 different banking sources...Nobody knows the exact date…but they are expecting instructions at any moment and are prepared. They know it’s coming. Banking people from the mid-level up know it’s coming and are prepared for it.  IMO this is great news.

 ... I am hearing- they want things completed and fully active and everything done by Jan.  For that to happen it could go any day.

 “Iraq plans “to neglect the US dollar ” and parliament proposes to diversify foreign currency baskets”   Iraq will hold foreign currencies so they can do business in and around the middle east without the US. This story is bigger than it appears. It is all about de-dollarization. 

We know Iraq plans to be de-dollarized by January 1st. So for Iraq to be de-dollarized by January 1st…then their oil profits, etc will no longer be going through the US system that it is going through now…AND, they will need a fully functional, international currency. We have a really good indicator of when this rv has to happen by. It makes logical sense for it to be sooner.This article is fantastic.

Kurdistan Council Reconsiders Decisions: A Fervor for Arts and Oil Rights, 15 NOV

 Kurdistan Council Reconsiders Decisions: A Fervor for Arts and Oil Rights, 15 NOV

The Council of Ministers in the Kurdistan Region is set to reconvene, following a significant visit by Prime Minister Masrour Barzani to the Erbil Institute of Fine Arts Festival. The visit marked the Prime Minister’s commitment to fostering the arts and culture, which stand as potent symbols of the region’s rich history and national significance.

Reviving the Cultural Pulse

During his visit, Prime Minister Barzani expressed his full support for the blossoming of arts and culture in the region, a move that signifies the Kurdistan Regional Government’s (KRG) recognition of the importance of cultural preservation and its role in nation-building.

Securing Financial Rights

Enveloped within the Prime Minister’s engagements was a crucial meeting with Iraq’s Oil Minister. The primary focus of the discussion was the KRG’s adamant insistence that the federal government respect the constitutional rights of the Kurdistan Region, particularly concerning financial entitlements.

Oil Production: A Crux of Agreement

Further, the Iraqi oil minister elucidated his expectations of reaching an agreement with the KRG and foreign oil companies. This agreement aims to resume oil production from the oilfields within the Kurdish region within three days, a move that holds substantial implications for the region’s economy and its relations with Iraq.

https://bnn.network/politics/kurdistan-council-reconsiders-decisions-a-fervor-for-arts-and-oil-rights/

Iraq Initiates Economic Measures Amidst Global Economic Fluctuations, 15 NOV

 Iraq Initiates Economic Measures Amidst Global Economic Fluctuations, 15 NOV

As fluctuations in the exchange rate of the Iraqi dinar against foreign currencies, notably the US dollar, continue to unsettle the economy, the Iraqi government is initiating measures to steady the ship. In the center of the storm is Prime Minister Mohammed Shia al-Sudani, who has directed government bank managers to chalk out a plan within a month aimed at refining banking operations.

Transition to Electronic Banking

The plan, as it stands, includes a substantial leap from paper-based to electronic banking. The shift is expected to be complemented by the expansion of electronic payment services, thus paving the way for a more digitized financial landscape. Furthermore, the blueprint also entails developing a comprehensive vision for granting credit facilities and loans.

Trade Negotiations with Iran

Meanwhile, a government source has revealed that negotiations with Iran are underway. The discussions are aimed at regulating trade between the two nations. The proposed measures being considered include facilitating import procedures, establishing a free trade zone, and developing electronic payment systems.

Economic Fluctuations Elsewhere

While Iraq grapples with its economic challenges, France’s unemployment rate climbed to 7.4% in the third quarter, the highest since Q2 2022. A slowdown in economic growth in both Europe and globally has been cited by the French Finance Minister as the root cause for the increase. However, China offered a glimmer of hope as its industrial output and retail sales exceeded expectations in October, despite the real estate sector acting as a stumbling block to a full economic recovery. The Chinese government’s attempts to jump-start the economy post-COVID-19 through policy support measures have so far had only a modest impact.

US Sanctions Waiver

In another development, the Biden administration has extended a sanctions waiver for Iraq by four months, permitting the ongoing purchase of electricity from Iran. Critics argue that the extension rewards Iran amidst increasing pressure to discontinue support for proxy groups. Despite the backlash, the waiver maintains the provision for electricity proceeds to be transferred to accounts in Oman, converted into widely traded currencies, and used by Iran to buy non-sanctioned products. This move seeks to decrease Iran’s leverage over Iraq while keeping US Iran policy intact and sanctions unchanged.

https://bnn.network/world/france/iraq-initiates-economic-measures-amidst-global-economic-fluctuations/

Iraqi Dinar🔥Iraqi Banks Can Exchanging Foreign Currencies Now🔥Important ...

The Prime Minister Directs The Directors Of Government Banks To Submit A Plan Within One Month To Develop Their Work, 15 NOV

 The Prime Minister Directs The Directors Of Government Banks To Submit A Plan Within One Month To Develop Their Work, 15 NOV

Economy News – Baghdad  Today, Tuesday, Prime Minister Muhammad Shiaa Al-Sudani directed the directors of government banks to submit a plan within one month in order to develop the work of the banks.

The media office of the Prime Minister stated in a statement received by Al-Iqtisad News that “Prime Minister Muhammad Shiaa Al-Sudani chaired a meeting that included the Minister of Finance, the Governor of the Central Bank and the directors of government banks,” indicating that “the meeting during which the work mechanisms and procedures achieved in administrative and banking reform were followed up.” , which the government has begun implementing, and constitutes one of the work priorities included within the comprehensive economic reform in the country.”

The Prime Minister directed “all government banks to prepare a plan to be submitted within one month, to develop the work of banks that includes the optimal use of financial, human and technical resources, moving from paper work to automated work, electronic dealing with all banking activities, expanding electronic payment services, and developing a comprehensive vision for banks in granting facilities.” credit and loans, and developing work mechanisms, including control and oversight tools.”

He stressed that "bank managers will be subject to performance evaluation in light of their implementation of the plan and the amount of achievement," stressing that "the real reform that the government was keen to achieve is based on banking reform, and it is determined to make bold decisions in order to implement this reform in a way that contributes to improving the investment environment." And developing the work of the public and private sectors.

The meeting witnessed a discussion of the implementation of the comprehensive banking system, through the use of advanced electronic programs and modern technology in all banking transactions, and a discussion of the development plan presented by the international company (Ernst & Young) regarding the restructuring of Rafidain Bank, to ensure the development of its business and the provision of a package of integrated banking services to citizens. Companies and similar international banks.

The Prime Minister directed "banking departments to seek international expertise by contracting with consultants specialized in banking and financial work."

Views 73  Added 11/14/2023 https://economy-news.net/content.php?id=37524

A Government Source Reveals A Package Of Measures To Address The Difference In The Exchange Rate, 15 NOV

 A Government Source Reveals A Package Of Measures To Address The Difference In The Exchange Rate

Economy |  11/14/2023  Baghdad - Mawazine News  Today, Tuesday, the government took a package of measures to address the difference in the dollar exchange rate.

A government source said in an interview with Mawazine News, “Among the measures is organizing the import process and ensuring the entry of the largest number of merchants and importers to the foreign currency sales window by facilitating account opening procedures, deposit operations, and other procedures related to issuing the importer’s identity, which will facilitate the (know your customer) requirements for the category.” Merchants and importers.

He continued, "The government and the Central Bank are conducting ongoing negotiations with the Iranian side to regulate trade between the two countries and make the best options regarding payment of dues and amounts, and discussions are taking place at a good pace."

He stressed that "Prime Minister Muhammad Shiaa Al-Sudani directed work on a number of important projects to ensure that the poor and middle-income groups are not affected by the exchange rate difference, as the Ministries of Commerce and Health are working to import important materials and provide them in Iraqi dinars at stable prices, an example of which is the food basket project (which prevails at stable prices)."

 And the pharmaceutical basket, the construction basket, and the basket of reserve materials for the transportation sector... some of which work began a while ago.”

He pointed out that "the government is now working on an (equal deal) project to exchange trade and imports with some countries, such as China and India, and in their own currencies from Iraq's main trading partners, such as India, China, and some neighboring countries."

He explained, "The government is currently studying establishing a free zone to import materials and then market them to the private sector and ensure their delivery to the consumer at competitive prices and in the Iraqi dinar, in addition to studying a re-export project, and there are important discussions in this regard."

He stated that "the government issued a series of measures to develop electronic payment systems and reduce dependence on cash... and a series of other decisions will be issued in the coming days regarding pricing and incentive policy for services provided through electronic payment."

He continued, "The Prime Minister directed the activation of a joint committee between the government, the central bank, and the private sector, under the supervision of his office, to hold serious discussions with the US Treasury regarding transfers through the foreign currency selling window, and the committee has begun its meetings from now."

He continued, "The government is holding ongoing discussions with the Central Bank of Iraq on a number of topics, including facilitating procedures related to Iraqi banks importing the (cash) dollar. This process has already begun with some banks importing the dollar, and the process will expand to include other banks, and work is also underway to proceed."

By concluding agreements to supply the currencies of some countries to be provided through banks and banking companies to meet the needs of Iraqi pilgrims going to those countries without the dollar currency.”  https://www.mawazin.net/Details.aspx?jimare=237763