Kurdistan will prevent dealing in the dollar in 2024 if Baghdad wants - a special statement, 25 DEC

 Kurdistan will prevent dealing in the dollar in 2024 if Baghdad wants - a special statement

The Minister of Commerce in the Kurdistan Government, Kamal Muslim, confirmed in a statement to the 964 Network that the region only adopts the Iraqi dinar in transactions at the level of border crossings and airports, and said that measures to prevent the circulation of the dollar will include the real estate market, car trade, and other activities during the next year, if a decision is issued to do so by Central Bank of Iraq.

The Central Bank of Iraq decided earlier in 2023 to limit all local transactions to the Iraqi dinar, and after that the Ministry of Interior launched a campaign to prevent dealing in dollars in all governorates with the exception of the Kurdistan region, while indicating that the penalty for violating the law reaches 5 years in prison.

Kamal Muslim - Minister of Trade in the Kurdistan Region:

We are committed to all instructions and decisions regarding stabilizing the dollar exchange rate and increasing the value of the Iraqi dinar, as we deal in the Iraqi dinar exclusively at the level of border crossings and airports.

At the market level, we will also commit to imposing dealing in the dinar if a decision is issued by the Central Bank requiring it to be used in all market transactions, such as buying and selling goods, homes, and cars in the Kurdistan region.

Network:

Currency market experts say that the issue of “dinarising” local buying and selling operations in the Kurdistan region will have a major impact on the rise in the value of the dinar, because only merchants and tourists need the dollar, and they can obtain it from the Central Bank of Iraq.  link

"RV UPDATE" BY ARIEL, 25 DEC

Ariel

@Prolotario1

Dinar SitRep – You are about to enter an entire different game.

You have to understand. When Iraqi banks form relationships with international banks, it enhances their connectivity to the global financial system. This increased integration allows Iraq to participate more effectively in international trade and finance. 

As these banks establish connections, they gain access to foreign exchange markets, including the Forex (foreign exchange) market. Being part of the Forex market enables Iraq to facilitate currency exchange, attract foreign investment, and conduct international transactions more efficiently. It also contributes to the stability of the Iraqi dinar, as increased participation in global financial markets often leads to better management of currency values. 

Overall, the collaboration with international banks is a positive step for Iraq in terms of economic stability and progress in the reform of its banking sector. 

Do you understand how monumental it is for the US Treasury to confirm this today on Christmas Eve? Did you know the dollar exchange rate is stabilizing and the parallel market is reaching the official price? Being part of the Forex market enables Iraq to facilitate currency exchange, attract foreign investment, and conduct international transactions more efficiently. It also contributes to the stability of the Iraqi dinar, as increased participation in global financial markets often leads to better management of currency values. 

Overall, the collaboration with international banks is a positive step for Iraq in terms of economic stability and progress in the reform of its banking sector. Why do you think I kept reminding you all that on January 1st Iraq will only be using their currency? 

Don’t you think they will need all the help they can establish by connecting to other foreign markets to facilitate trade so they can strengthen their currency? And here is the kicker. Iraq will come out with a fixed rate not a float. Do you know what this means? They will come out at $3-$4 dollars. 

If you have 4 million in IQD, guess how much you will have the morning it pops up on Forex? $12-$16 million dollars. Talk about turning a profit. 

The other part of this plan is that investing will be easy for you. Because we will be on a gold standard soon. Your money will grow with the market without the fluctuations of the old system. Companies will be confident. Banks will be confident. Insurance companies will be confident. ISO-20022 SOFR Basel 3 Comex 589 Protocol 20 You will have all these tools in the new financial system to protect your money and investments. You should be more confident than a basket full of cans’. I didn’t even mention the Zimbabwe Bonds. I didn’t even mention the Iranian Rials. I didn’t even mention the Vietnamese Dong. I do not even need the Iraqi Dinar. But it’s a tool and I will use it. 

Goodluck to you all. Because you are about to enter an entire different game.

Iraqi Dinar🔥Good News Coming Out From Iraq Today 2023🔥iraqi dinar rate u...

Transport: Iraq is ready to transport global goods from east to west, 25 DEC

 Transport: Iraq is ready to transport global goods from east to west, 25 DEC

Transport - Iraq is ready to transport global goods from east to westInformation/follow up..

The Ministry of Transport announced, on Sunday, that Iraqi ports are ready to be an alternative to global transport lines to deliver goods from east to west.

The Director General of the General Company for Iraqi Ports, Farhan Al-Fartusi, said in a statement received by Al-Maalomah: “The Iraqi port of Umm Qasr is ready for any real or international need, to receive increasing numbers of containers, after the security tension in the Red Sea and the suspension of many of the major international transport companies’ routes, especially Those that transport goods from Europe to the Arabian Gulf and East Asia and vice versa.

He explained that “Iraq, due to its distinctive location linking the East and the West, is currently considered one of the easiest and safest transport routes, as we expect that there will be a large movement of container handling in the port of Umm Qasr during the coming period,” stressing that “Iraqi ports are prepared for such an increase in operations.” “.

He added, “Iraqi ports have actually become an important transit site for transporting goods from Europe through the Turkish port of Mersin and from there to Iraq all the way to the Gulf and East Asia, and vice versa for Chinese goods towards Europe.”

He continued, “This matter clearly shows the importance of the two projects of the Grand Al-Faw Port and the development road that Iraq is implementing, as they have become an international requirement and even an urgent necessity so that the navigation and maritime transport routes in the world are safe.”

almaalomah.me

"RV UPDATE" BY MILITIAMAN, 25 DEC

 Militia Man 

  Keep positive.   Keep upbeat.  There's nothing bad as far as I can see at the moment.  We'll see.  Anything can happen.  Anything can change..

What I've always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate...1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend...Having a...3 years budget keeps it stable...pricing stays stable.  

Anybody that says it's going to float to from a relatively low range to a high range over time they don't understand.  Article quote:  "The exchange rate will be fixed especially since it's been fixed in the federal budget law for 3 years says Saleh..."  This is coming from the advisor.  Don't talk about float.  It just doesn't make sense to anybody.

Since November of last year they have been working to do what?  Get rid of the parallel market.  And how are they doing that?  They're populating banks with many other currencies.  They're doing all those things that are necessary to do what?  Be article VIII compliant, to have a single currency, not a dual currency country.  They're getting rid of multi-currency practices.

  They're talking about reducing Iraq's dependence on oil.  Dependence on oil is going to go away because they have non oil related products...services...and sectors .  That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources.  They're going to have other than just oil.  They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..

Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.  

There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-21-dec.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-22-dec.html

🔥Iraqi Dinar🔥Anything Can Change🔥News Guru Intel Update IQD Value to USD...

Al-Sudani directs ministries to hold urgent meeting with Shell company, 25 DEC

 Al-Sudani directs ministries to hold urgent meeting with Shell company

Shafaq News / Prime Minister Mohammed Shia Al-Sudani convened an urgent meeting on Monday with the Minister of Oil, Industry, and Minerals, as well as the Advisor to the Prime Minister, to engage in discussions with the global company Shell regarding the settlement of its obligations. 

A statement from Al-Sudani's office said that the meeting focused on monitoring the implementation steps of the prominent Nebras Petrochemicals project. 

Al-Sudani reviewed the progress stages, completed steps, and recommendations from the supervisory body overseeing the project, emphasizing the crucial element of time. He stressed that the project had faced delays and setbacks since 2015 and reaffirmed the government's determination to see it through, utilizing its full capabilities and authorities. 

During the meeting, Al-Sudani underscored the necessity of removing any obstacles hindering the project's progression. He emphasized the Iraqi market's need for petrochemical raw materials to support domestic industries and transition to local production. 

The Prime Minister directed an urgent meeting involving the Ministers of Oil, Industry, and Minerals, the Prime Minister's advisor, and consultant Genis with Shell International to settle all remaining matters. Additionally, he instructed the scheduling of monthly meetings under his leadership to monitor progress, activate solutions, and eliminate obstacles.

https://shafaq.com/en/Economy/Al-Sudani-directs-ministries-to-hold-urgent-meeting-with-Shell-company