DINAR REVALUATION

Thursday, November 16, 2023

Iraqi Financial Expert Predicts Further Decline in Dollar Exchange Rate, 16 nov

Iraqi Financial Expert Predicts Further Decline in Dollar Exchange Rate

Shafaq News/ Financial and economic expert Abdul Rahman Al-Mashhadani has predicted a new decline in the dollar exchange rate in Iraq, reaching 145,000 Iraqi dinars against 100 dollars.

He attributes this forecast to measures the Central Bank of Iraq took in collaboration with the Federal Reserve Bank.

Speaking to Shafaq News Agency, Al-Mashhadani highlights the recent meeting in Abu Dhabi, where ten banks were authorized to carry out transfer operations directly through correspondent banks, including American banks JP Morgan and Citibank. He explains that this move aims to expedite transfer processes, bypassing the electronic platform of the Central Bank and avoiding scrutiny from the Federal Reserve Bank.

Additionally, Al-Mashhadani notes that the Central Bank has allowed banks to import remittances belonging to foreign companies, international organizations, and diplomatic missions operating in Iraq through Iraqi banks. This move is expected to facilitate the payment of salaries and contracts, with the first shipment worth $100 million entering the local parallel market. The funds will be used to pay workers in these companies and cover contracts with Iraqi suppliers, contributing to increased spending in Iraqi dinars.

https://shafaq.com/en/Economy/Iraqi-Financial-Expert-Predicts-Further-Decline-in-Dollar-Exchange-Rate

The Central Bank Of Iraq Agrees To Import The Dollar To Meet The Needs Of Citizens, 16 nov

The Central Bank Of Iraq Agrees To Import The Dollar To Meet The Needs Of Citizens, 16 nov

November 15, 2023 Last updated: November 15, 2023 Al-Independent/- A government source revealed, today, Wednesday, that the Central Bank of Iraq issued official approvals to three Iraqi private banks to import the US dollar to meet the needs of citizens, confirming that one of the banks’ shipments had actually arrived in Iraq.

This decision comes within the framework of the efforts made by the Central Bank of Iraq to enhance the stability of the Iraqi dinar exchange rate, and to provide the dollar in sufficient quantities to meet the needs of the local market.

According to the source, the private banks that obtained approvals are:

National Bank of Iraq Ahli United Bank Trade Bank of Iraq (TBI) The source explained that these banks will import the US dollar through the electronic money transfer platform recently launched by the Central Bank of Iraq, with the aim of ensuring transparency and preventing currency speculation.

According to the source, there are applications from other banks that are on their way to be submitted for decision by the Central Bank of Iraq.

The source confirmed that the Trade Bank of Iraq (TBI) is currently holding important discussions with several international companies to transfer amounts amounting to $120 million, and

they are on their way to completion within the next few days.

The source expected that this decision would stabilize the exchange rate of the Iraqi dinar, and provide the dollar in sufficient quantities to meet the needs of the local market.

The impact of the decision on the Iraqi economy

It is expected that this decision will have a positive impact on the Iraqi economy, as

it will stabilize the exchange rate of the Iraqi dinar, and

provide the dollar in sufficient quantities to meet the needs of the local market.

According to the economic expert, Dr. Ahmed Ismail, this decision will contribute to reducing the demand for the dollar in the local market, and thus reducing the exchange rate of the Iraqi dinar against the dollar.

This decision will also provide the dollar in sufficient quantities to meet the needs of companies and investors, which will contribute to increasing foreign investments in Iraq.

In general, this decision is an important step by the Central Bank of Iraq to enhance the stability of the Iraqi economy. https://mustaqila.com/البنك-المركزي-العراقي-يوافق-على-استير/

Chase Bank Says IQD Will RI?💣HCL = New Rate?!🤔Iraq Dinar RV Updates | 11...

"RV UPDATE" BY FRANK26, 16 NOV

Frank26

If I WAS THE CBI, I WOULD BE FOCUSING ON THE NEW EXCHANGE RATE AND THE NEW CURRENCY TO COME OUT TOGETHER...SUDANI IS IN ERBIL WITH BARZANI, AND THEY ARE DEALING WITH THE LAST THREE PARAGRAPHS OF THE HCL. THEIR INTENT IS TO RELEASE IT VERY SOON IF THAT IS THE CASE, THEN IMO THE NEW EXCHANGE RATE AND THE NEW LOWER NOTES SHOULD FOLLOW. REMEMBER WHAT I’VE ALWAYS SAID...THE MOMENT YOU SEE THE HCL SECONDS LATER YOU WILL SEE THE NEW EXCHANGE RATE.

You see these banks finally admitting the truth about the Iraqi dinar monetary reform. They would never talk about it before because they would lose their licenses. They would lose the opportunity to exchange when a time comes. And that time has come!

[Bank Story]

I called JP Morgan Chase corporation office and I was told when the Iraqi dinar is reinstated...

FRANK: What?? Chase told you this?!

Bank Story: He said when the IQD is reinstated I am supposed to go to Houston, Texas Chase Bank and they would be able to exchange my currency and set up a private account there for me. I just wanted to share my JP Morgan Chase story with you. This is amazing isn't it?

FRANK: Follow up on this don't leave it there.

BANK STORY MAN: I called JP Morgan Chase financial office again just to make sure that it wasn't a fluke and reassuring myself...This time I got a different advisor...Guess what? He told me the same thing...that Iraq was about to reinstate their currency...I wanted to find out in Houston area which JP Morgan Chase Bank would be exchanging the Iraqi dinar...He transferred my call to the JP Morgan Chase bank and a lady by the name of 'Ms Bank Lady' didn't deny anything. I asked her and she suggested that I call back tomorrow and talk to one of the bank agents about setting up an appointment with them to find out how to do my exchange with the bank...

FRANK: This is incredible information. I'm so glad you pursued it to the next level.

The first shipment of dollars from abroad arrived in Iraq.. The Central Bank, 16 NOV

The first shipment of dollars from abroad arrived in Iraq.. The Central Bank, 16 NOV

The first shipment of dollars from abroad arrived in Iraq.. The Central BankThe Central Bank of Iraq announced today, Wednesday, the arrival of the first shipment of dollars from an Iraqi bank, while the Iraqi Trade Bank is holding important discussions with international companies to transfer more than 120 million dollars during the next few days.

During the past two days, the Central Bank issued official approvals to three Iraqi private banks to import the US dollar to meet their customers’ need for this currency in amounts amounting to (100) million dollars.

A bank shipment has actually arrived in Iraq, and there are requests from other banks on their way to be submitted for decision by the Central Bank of Iraq.

The Trade Bank of Iraq “TBI” is currently holding important discussions with several international companies to transfer amounts amounting to $120 million, and it is on its way to completion within the next few days. 

964media.com

The Finance Committee meeting with government bank directors came up with several recommendations, 16 NOV

The Finance Committee meeting with government bank directors came up with several recommendations, 16 NOV

The Finance Committee meeting with government bank directors came up with several recommendationsToday, Wednesday, the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, stressed the necessity of accelerating the implementation of the comprehensive banking system, while stressing the importance of facilitating loan granting procedures.

The media office of the Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement, “Al-Atwani chaired a session hosting directors of government banks, to discuss ways to achieve banking and financial reform in the country,” noting, “The meeting, which was attended by representatives, members of the Finance Committee and directors of the Rafidain, Al-Rasheed, and Real Estate banks.” , Industrial and Agricultural, discussed a number of important files related to the work of government banks, including mechanisms for granting banking facilities in granting loans and reducing interest rates and other services.
 He added, “The meeting reviewed the steps for preparing the banking reform paper in line with the government program, through the implementation of the comprehensive banking system.”
Al-Atwani stressed “the necessity of accelerating the implementation of the comprehensive banking system,” pointing out that “we will hold joint specialized workshops in order to prepare a draft of the government banks work law,” stressing “following up on the steps to prepare the banking reform paper,” expressing his support for “efforts to improve and advance this sector.” “vitally important.”
He pointed to “the importance of facilitating loan granting procedures and studying their economic feasibility in order to achieve development,” explaining that “automating systems and programs is the only way to break away from routine and fight corruption.”
He stressed “accelerating the completion of the steps to transition from the paper system to the electronic system for all sectors and institutions,” pointing to “the importance of preparing data centers in accordance with the standards of the Central Bank and international banks.”
He stressed, “The Real Estate Bank must complete lending transactions for citizens who have completed disbursement procedures within the housing initiative.”

dijlah.tv