I never said it's not going to happen. It absolutely will but it's going to go up in increments IMO. Is Iraq doing what they need to do to get back on track? They are. What are the biggest hurdles? They need to do something about corruption...Unless these things change we're going to have a hard time getting to where we're trying to...change the exchange rate.
[Response to Nader's Iraq's economy is one of the best in the world below] No it's not. Not right now...There are other contributing factors...I agree in the future [they're going to be fine] but I'm talking about now...Anything is possible in the future but in their current position these things are what's wrong that need fixed...
Today, Monday, the Al-Fatah Alliance identified ways to force the American administration to withdraw its forces and leave Iraq, while considering the diplomatic system with the Americans “will not work.”
The leader of the coalition, Ali Hussein, said in an interview with the “Al-Ma’louma” agency, “Iraq has many great experiences with America. It refuses to leave the country, and the diplomatic system will not work for it,” stressing “the necessity of using two systems with the American administration to force it to leave the lands.” “Iraqiya.”
He added, “The first system is resistance, through which the Iraqis succeeded in 2011,” pointing out that “the second system is political action, and they must be together in one vessel to get rid of the American occupation.”
The leader of the Al-Amiri coalition explained, “The experience of 2011 accurately embodied the two regimes, as the former Prime Minister, Nouri al-Maliki, was dealing politically with the American side, while the resistance factions touched the heads of the Americans, until they left Iraq.”
Hussein stated, “The current government must deal with the same political approach with Washington, and prepare the ground for its exit, while the resistance continues its strikes and will not stop at a certain limit, except with the departure of the last combat soldier from Iraq.”
Earlier today, the Islamic Resistance in Iraq claimed responsibility for targeting the “occupied” Ain al-Assad base with drones.
The Iraqi resistance continues to launch attacks against the bases of the American forces since the start of Operations Al-Aqsa Flood in Palestine, in response to the crimes committed by the enemy against the Palestinian people in Gaza.
Iraq is again discussing the change in dinar value openly. This makes more than 4 articles etc…in the last week. They are expecting a major change in the valuation of their currency soon.Also still talking about pegging to a basket of middle eastern currencies in order to compete with the US dollar. Also in the news there seems to be big happenings in the Iraqi currency auctions.
Bringing in much more dinar. They are making all the moves we expect to see just before a revaluation. They are telling us it is coming… it is very clear how close we are.
Comment: Vietnam is sitting really pretty in their economy. They are main processors of silver! And get this, Cinnamon! MarkZ: News from Vietnam: “Vietnam treads the path to becoming an International Financial Hub” There is a lot of pressure from countries around the world for Vietnam to move their currency value up. Great things happening there.
INSTRUCTIONS AND STANDARDS FOR THE CIRCULATION AND EXCHANGE OF BANKNOTES AND COUNTING AND SORTING MECHANISMS♦
Instructions and standards for circulation and exchange of banknotes, and counting and sorting mechanisms. For more, click here
The manual is very long as it is 11. You can click on the link above to see the entire manual, however it is in Arabic and will need translation. I have translated some of it to get a feel for it. But it is not about the RV. It just lends clarity to the citizens as they are turning in old 3 zero banknotes.
Date: 1/15/2024
All licensed banks provide instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms
Kind regards…. Later, with our circular No. 2/9/20 dated 1/15/2023 regarding unifying and updating the controls and instructions for the standards for the circulation and replacement of banknotes, we attach to you the principles, standards and instructions that will be adopted in
Counting, sorting, receiving and delivering banknotes, we hope to carry out.
Please review and act accordingly, with appreciation.
Escorts
Instructions and standards for the circulation and exchange of banknotes and counting and sorting mechanisms.
Mr. Dr. Ammar Hamad Khalaf
Page 1
Instructions and standards for circulation and exchange of banknotes and counting and sorting mechanisms
The Central Bank of Iraq, in accordance with its amended Law No. 56 of 2004, is responsible for determining the denominations of Iraqi paper and metal currencies, their standards and shapes, printing paper banknotes, and minting coins. It is responsible for destroying and replacing them and identifying defective ones, and it may refuse to replace those paper or metal currencies or They will be confiscated if the conditions described in these instructions are met and that the Iraqi banknotes are homogeneous in their various denominations, have absolute discharge power and are accepted by the Central Bank of Iraq, its branches, banks, institutions and the public.
Discriminating between their denominations by imposing a specific denomination on the public or refusing to receive a specific denomination is unlawful. It is acceptable and is considered a violation of the law. We ask all banks to adhere to the instructions and standards for trading banknotes And replace them with counting and sorting mechanisms as shown below: see the entire manual by clicking on the link above.
AL-RAFIDAIN LAUNCHES THE PROJECT TO IMPLEMENT THE ANTI-MONEY LAUNDERING AND COMBATING THE FINANCING OF TERRORISM LAW
Baghdad Today – Baghdad
Rafidain Bank announced on Thursday (January 18, 2024) the launch of the project to implement the Anti-Money Laundering and Combating the Financing of Terrorism Law and the Electronic Reporting System based on the requirements of the Central Bank and the Anti-Money Laundering Office and in compliance with the recommendations of the Financial Action Task Force (FATF).
The bank confirmed in a statement received by “Baghdad Today” that “the work began from today and continues until the achievement of all international and local financial requirements,” explaining that “the goal of this project is to upgrade the banking business to shift towards digital systems in financial transactions in line with the government’s steps to accelerate economic and financial reforms in the country.”
According to the statement, “the bank agreed with Capital B Solutions Ltd., which is contracted to implement the project, funded by the International Smart Card Company, the bank’s strategic partner, and the duration of the completion of the project within 6 months and Continue until achieving international goals and standards to eliminate fraud in money laundering and terrorist financing.”
“The project provides for increasing the effectiveness of the bank’s compliance system and maintaining the conduct of banking operations to be safer and to apply the highest level of compliance standards approved by the Central Bank of Iraq.”
“This system is an integrated software solution developed by the United Nations Office on Drugs and Crime (UNODC), to be used by Financial Intelligence Units ( FIU’s ) (including the Anti-Money Laundering and Combating the Financing of Terrorism Office), for the purpose of data collection, management, analysis, document management, workflow and other statistical needs.”
“This program is designed to receive, process and analyze reports submitted by financial institutions or other entities in accordance with the requirements of local anti-money laundering laws and regulations and international standards,” it is noted.