The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, confirmed the entry into force of the Financial Budget Law of 2024 since the beginning of the current new year.
Saleh told {Euphrates News} “The Federal Budget Law No. 13 of 2023, is in force for three years, and as soon as the country enters the new fiscal year 2024, the budget law became effective in all its details, means, instructions and entry into force in letter and spirit to the current fiscal year from 1/1 until December 31, 2024.” On June 12, 2023, the House of Representatives voted on the Federal Budget Law of the Republic of Iraq for the years (2025, 2024, 2023) in total.
We don't have any stations to go through the redemption center. It's not happening. What did happen with bondholders in Reno, in Geneva in Miami was they did have stations to go through for their bonds.
That's not us. that was tier three, but don't conflate that with what we're going to experience at the redemption centers.
We expect to be sitting down in an office with about three to four people opposite us at the desk. That would be a US Marshal, US Treasury Marshal is to make sure nothing goes haywire. You're gonna have one person on a delarue machine - - that would be counting and verifying currency.
So one person is going to be doing zim if you have zim. and two or two other one or two other people would be handling your other currencies if you have them.
So they've got that setup and you might have even two or three delarue machines two per office is what the last setup was. They feed that information from the delarue into a laptop computer, and then they work the laptop into a - Here's the word again - quantum computer.
So that's how they've got that designed. And so we're not going to move they're going to move to us. We'll have some people that will come in and some people – a different person might come in, but overall we're looking at that kind of arrangement, because remember, they would like us to be in and out of our appointment in 30 minutes.
And if you have bonds other than zim, we're talking about sheet bonds, a box of bonds. You know, these could be anywhere from German bonds, railroad bonds, gold dragon bonds, Red Dragon bonds, etc. If you have any of those bonds in sheet form, you have the provenance for them - You take those in with you to the redemption center.
And they'll have somebody that can go through that bond work with you and the provenance and everything that you have to have to justify that you are the rightful owner of those bonds and you will get that done. But even if you have bonds They don't want you to take more than 40 minutes. If you've got currency and bonds
That's a lot to get done in 40 minutes. Believe me, I know they're going to be quick. Their practice. They're really going to be super fast at setting up our accounts. They theoretically know who we all unless you've been gifted zim - they know who the zim owners are - they know how many are in a given area. I can tell you how many zim holders there are in some areas of the country, Because I've heard it from my sources.
Earth News / Prime Minister Mohamed Shia Al-Sudani met in Davos, JPMorgan’s Regional CEO for the Middle East and North Africa, Mr. Khalid Hoballah.
The meeting witnessed in a statement for his media office, Earth News, discussed the prospects of cooperation in the financial fields, and the opening of accounts for Iraqi banks, as well as the possibility of the bank’s participation in the government’s efforts to adopt electronic payment applications in Iraqi markets.
They also discussed “coordinating technical efforts between the Central Bank of Iraq and JPMorgan in establishing ideas related to the trading of digital currencies for central banks.”
The Sudanese pointed to “Iraq’s aspiration towards the bank’s cooperation with the Iraq Fund for Development, and the financing it targets to finance private sector projects in Iraq, stressing Iraq’s move with the steps of financial and banking reform, and to help develop this vital sector.”
For his part, Khaled Hepballah expressed the readiness of JPMorgan Bank to strengthen cooperation with Iraq as a government, with the Central Bank of Iraq, and the Iraqi banking sector, stressing the bank’s direction, as a first stage, to open accounts for three private Iraqi banks.
Beside Sudani and Alaq, the only two we listen to, I want you to add Barzani. As time goes by you'll understand why. Barzani is working very nicely with Sudani, Baghdad, the GOI...We're adding Barzani to the group. Sudani and Alaq are explaing the monetary reward to the Iraqi citizens, so is Barzani.
Notice articles this week are focusing on the monetary reform education, which is about the currency, lower denoms, new exchange rate, accounting, banking reform, everything. It's all being unloaded onto the citizens of Iraq...Let's be fair, they're just getting started. Let's see what happens this quarter..
Article: " Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms"
FINALLY... WHAT WE CALLED THE 2ND ARTICLE FOR THE CBI TO THE IRAQI CITIZENS!
Question: "Is [Firefly boots on the ground in Iraq] optimistic or frustrated?"
Both. He's optimistic because he knows what Sudani and the CBI have been telling the citizens of Iraq...Because he can go into a bank in Iraq now and ask questions and they will answer them point blank.
But he's also frustrated because how much longer? We're talking about going into...January already. This thing should have happened at the beginning of the year. What's the hold up? Why are we waiting?
On Wednesday, Foreign Minister Fuad Hussein revealed the conclusion of a new agreement between Baghdad and Erbil to resume the export of Kurdistan region oil.
Hussein confirmed during his participation in the Davos Global Forum in Switzerland, “The matter was related to the Iraqi government and the Kurdistan Regional Government, but two days ago the two sides signed an agreement on how to deal with the oil problem.”
He added: “I believe, and I hope, that we will resume exporting Kurdistan region’s oil to the port of Ceyhan soon.”
