Kuwait Central Bank implements measures to rein in Dollar use in Banks and Exchanges, 8 DEC

  Kuwait Central Bank implements measures to rein in Dollar use in Banks and Exchanges

According to this policy, the exchange rate of the dinar is determined based on a specially weighted basket of currencies from countries with significant commercial and financial ties to Kuwait

The Central Bank of Kuwait has communicated to local banks that it will not cover dollar purchases directed to exchange companies if such acquisitions are intended for speculation or investment purposes, reports Al- Rai daily quoting informed sources. The Central Bank emphasized that it will consistently supply any quantities of the dollar directed towards meeting the needs of customers engaged in money transfer operations.

Sources elucidated that the Central Bank has informed local banks that they are permitted to continue procuring dollars to fulfill transactions with their customers, a practice that remains unchanged. However, banks are now required to ensure that the dollar amounts acquired from the Central Bank for exchange companies are primarily aimed at fulfilling the needs of their customers exclusively. Any shortfall in this regard must be independently covered by the bank. It was further explained that any purchases of dollars by banks or exchange companies for investment, commercial, or speculative objectives must be covered by the bank or company’s own Cooperaresources.

This can include utilizing its existing stock of the currency or acquiring it through the open market or other alternatives distinct from the Central Bank’s facilities.

The Central Bank is positioned to cater to the foreign currency needs of banks, aligning with the approach taken by other central banks in the region that adhere to a fixed exchange rate with another currency. Highlighting Kuwait’s exchange policy for the dinar, the sources emphasized its objective of maintaining the relative stability of the dinar’s price against other currencies. According to this policy, the exchange rate of the dinar is determined based on a specially weighted basket of currencies from countries with significant commercial and financial ties to Kuwait.

The sources underscored the effectiveness of the Central Bank’s policy in achieving a notable degree of relative stability in the dinar’s exchange rate against major global currencies. link

No vacation until the end of the year.” The Minister of Finance issues a directive to the employees of the Budget Department, 8 DEC

 No vacation until the end of the year.” The Minister of Finance issues a directive to the employees of the Budget Department, 8 DEC

 Minister of Finance, Taif Sami, today, Friday, December 8, 2023, directed the employees of the Budget Department to continue official working hours on Fridays and Saturdays until the end of the current year 2023.

The ministry stated in a statement received by Al-Sumaria News, “Minister of FinanceSublime spectrumI directed the continuation of official working hours for Budget Department employees on Fridays and Saturdays until the end of the current year 2023.  link

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY (IRAQI DINAR ADVERTISEMENT PLAYING ON IRAQI TV RIGHT NOW), 8 DEC

 Frank26 

[Iraq boots-on-the-ground report] 

FIREFLY:  Did you see this [sends video]?  ...They are talking about how the dinar is about to become stronger.  Then a commercial comes out  talking about how strong the dinar is already and will be even stronger very soon...It's about the strength of the dinar, telling them to use it for everyday things and will only get stronger and stronger. [Watch video below] 

FRANK:  You better be ready Iraqi citizens! In my interpretation of it...This is part of the monetary reform education they are teaching the Iraqi citizens that they will soon have value added to their currency...

Iraqi Dinar Advertisement Reported To Be Playing On Iraqi TV Right Now.

https://media.shafaq.com/media/arcella_v/%D8%A7%D9%84%D9%81%D8%AF%D9%8A%D9%88.mp4

KTFA: " THE END" , 8 DEC

 KTFA:

Frank26:  "THE END".................F26

The Issue of a Homeland"... a campaign to support the Iraqi dinar and make it the gateway to building the country

12/7/2023

 Encouraging the local currency and dealing with it in light of the current economic conditions that the country is experiencing is an important issue, especially with the government’s intention to “strengthen” the Iraqi dinar against other hard currencies, especially the dollar, as well as seeking to present it first in order for it to be a “homeland issue” in a way. Real.

In the government’s will to encourage dealing in the dinar in all daily transactions, the call emerges for it to be a gateway to building the country again, and to strive to strengthen and advance the Iraqi economy, and to reduce dependence on other foreign currencies, so that according to government directives, it is constant and the rest are variables, so that the dinar is a gateway to sustainable development. And prosperity at all levels.

LINK TO VIDEO ON DINAR    LINK

Frank26:  "NATION AFTER NATION KNOWS IT'S NOT A SECRET ANYMORE!!!"..............F26

Frank26:  "THE WORLD IS NEGOTIATING WITH IRAQ!!!".........F26

Naguib Sawiris: We are negotiating with government agencies to build an entire city outside Baghdad

12/7/2023   Baghdad

Egyptian businessman Naguib Sawiris, Chairman of the Board of Directors of the Ora Developers Group, said on Thursday that the company is negotiating with Iraqi government agencies to build an entire city outside Baghdad with very huge investments.

Sawiris explained during a press conference to announce the delivery of the first phase of the “ZED Sheikh Zayed” project that work is underway to determine its size during the current period on an area of 55 million square meters.

Sawiris added, “Our work in Egypt cannot be stopped due to the presence of a large number of employees, and the increase in unit prices has certain limits and will stop, which erodes the company’s profits.”

The CEO and Chairman of the Board of Directors of Ora Developers Group confirmed that some units were sold at a price of 5 million pounds, and their prices have now risen to 15 million pounds with the start of delivery.

Regarding the idea of heading to the Saudi market, he stressed that other projects cannot be implemented externally in addition to another project in the Emirates that requires investments of 15 billion dollars.

He pointed out that "the government's facilities for developers are somewhat weak. We offer the company to the government, but we ask them for more, in addition to allowing the sale of units in dollars inside and outside Egypt." LINK

Iraqi Dinar🔥Big Massive Update About Iraqi Dinar RV Exchange Rate Announ...

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 8 DEC

 Frank26  

[Iraq boots-on-the-ground report]

 FIREFLY:  Did you see this [sends video]?  ...They are talking about how the dinar is about to become stronger.  Then a commercial comes out  talking about how strong the dinar is already and will be even stronger very soon...It's about the strength of the dinar, telling them to use it for everyday things and will only get stronger and stronger.  [Watch video below]

  FRANK:  You better be ready Iraqi citizens! In my interpretation of it...

This is part of the monetary reform education they are teaching the Iraqi citizens that they will soon have value added to their currency...

Baghdad Is A Cash Cow...And The Regional Government Steals The Camel With What It Carries, 8 DEC

Baghdad Is A Cash Cow...And The Regional Government Steals The Camel With What It Carries

Today 19:59  Information/Exclusive:  The suffering of Kurdish employees continues as the regional government, which is controlled by the Barzani family, enjoys the good things of the southern governorates, amid a sharp rise in poverty rates as a result of; The Kurdistan government is stubborn in releasing employee salaries and not explaining the main reasons for this crisis, despite the continued seizure of oil export revenues and border crossings.

Otherwise, the central government in Baghdad decided to send money to the region, in clear violation of the law, in order to solve the crisis of employees’ salaries, whose voices reached the capital in massive demonstrations demanding their financial entitlements, which the Kurdistan government seized, according to observers.

*Continuing violations.

Speaking about this file, Member of the House of Representatives, Jassim Al-Moussawi, accuses the Kurdistan Region of not adhering to the decisions and controls of the central government so far, while he stressed that the salaries crisis is a defect within the Kurdistan government and Baghdad has no relationship with it.

Al-Moussawi said in an interview with the Maalouma Agency, “The crisis is not new today, but has been present for ten years until now,” noting that, “With the full money being sent to the region during the last period, we noticed the continuation of the crisis of employees not receiving their salaries.”

He continues, "The Kurdistan government bears responsibility for not finding appropriate solutions to the crisis despite its continuation for many years," pointing out that "the salaries crisis is a defect within the regional government and the Baghdad government has nothing to do with it."

He explains that "one of the reasons for the crisis is the failure to give salaries at the correct timing to employees," adding that "the Kurdistan region continues to not adhere to the decisions and controls of the central government until now."

*Clear and scandalous takeover!

For his part, political analyst Sabah Al-Ukaili wonders about the legal and constitutional basis on which the government continues to send money to the Kurdistan government, while he stressed that despite sending money to the region, the crisis of non-delivery of employee salaries continues until now.

Al-Ugaili said in an interview with the Maalouma Agency, “There are many unresolved financial problems with the regional government,” noting that “Kurdistan has not committed to implementing the budget provisions and the new government’s controls regarding controlling oil revenues and border crossings.”

 He continues, "Continuing to send money to the region without reaching final solutions to the financial problems between the two parties is a great risk to the government," pointing out that "sending money in light of the region's non-compliance with government controls is another violation of the provisions of the general budget."

He added, "Despite the numerous meetings, the data indicate a lack of transparency in the negotiations with the region," adding that "despite sending money to the region, the crisis of non-delivery of employee salaries continues until now."

It should be noted that the Kurdistan government continues to refrain from performing its duties by refraining from handing over the salaries of the region’s employees under the pretext of not sending them from the central government, while it still continues to illegally seize oil export funds, as well as revenues from border crossings, and despite the government sending The federal government received more than 2 trillion Iraqi dinars in payments in the previous period. Ended/25/Y  LINK