The banking sector is “at stake”.. What should the Central Bank do to avoid further sanctions?, 8 FEB

 The banking sector is “at stake”.. What should the Central Bank do to avoid further sanctions?

On Wednesday, economist Mustafa Akram Hantoush explained the practical steps that the Central Bank must take to avoid further US sanctions.

Hantoush told “ Jarida ”, “The first step is the platform between Iran and Syria, for the transfer to them to be made through a third country with the approval of the Federal Reserve, and for the traveler to the sanctioned countries to be given money in the currency of those countries, and the borders with the Kurdistan region must be controlled, and transfers must be linked to customs.” and ports (automation).”

He added, “Also, creating a platform for all travelers and making reservations through the Central Bank and not at money exchangers and banks. There are also items such as alcohol, detergents, etc., for which Kurdistan takes a small percentage tax, while Baghdad takes a high percentage, especially gold, which has many problems in Baghdad.” In Kurdistan, it grants licenses easily, so it should be resolved so that the merchant can enter a real platform.”

He stressed, “These steps will address the issue and serve as an argument for the Americans, as the Iraqi banking sector may end within a few months in favor of foreign banks.”

jaredaiq.net

"RV UPDATE" BY GOLDILOCKS, 8 FEB

 GOLDILOCKS

Economic Reforms in Iraq are currently being implemented. This does not mean it will happen all in one month. Some of these reforms will take place throughout this year. 

In other words, the Central Bank of Iraq and the World Bank are currently in process of implementing their new digital asset-based trading system into the Global Markets.

© Goldilocks

https://cbi.iq/news/view/2511

Economic Reforms in Iraq are currently being implemented. This does not mean it will happen all in one month. Some of these reforms will take place throughout this year. 

In other words, the Central Bank of Iraq and the World Bank are currently in process of implementing their new digital asset-based trading system into the Global Markets.

© Goldilocks

Those of you who have been in this process for some time can remember when Iraq said the following words, "...they would wait for a suitable environment for the re-entrance into the Global Markets." Well, they are beginning the process this month. 

© Goldilocks

"VIETNAMESE DONG ECONOMIC LANDSCAPE LATEST EXCHANGE RATE AND REVALUATION...

Directing criticism at the Iraqi Central Bank…an economist shows the numbers of banks sanctioned by America, 8 FEB

Directing criticism at the Iraqi Central Bank…an economist shows the numbers of banks sanctioned by America

Information/private..
Today, Wednesday, the economic expert, Dhia Al-Mohsen, counted the number of banks that were affected by the US Treasury Department’s sanctions, while confirming that the Central Bank of Iraq is in one valley, and the sanctions are “in another valley.”

Al-Mohsen said, in an interview with the Maalouma Agency, that “the banking system, managed by the Central Bank, should have directed sanctions on private banks by itself, and not by the USFederal Reserve.”

He added, “The banks that succeeded the Americans, the management of the Central Bank, has information about them, which operates in violation of the system and instructions of the Iraqi Central Bank regarding private transactions with customers, whether inside or outside the country.”

The economic expert explained, “If the central bank has information about these banks, and the sanctions come from abroad, it seems that the bank’s management is not worthy of managing this important file at the internal or external level of the country, given that the banking system has foreign dealings.”

Al-Mohsen stated, “Since the tenth month of 2023, the American sanctions have affected 14 banks, in addition to the 8 new banks,” pointing out that “these banks represent more than 40%, considering the presence of 72 banks, and this is a large percentage.”

The economist stressed, “This percentage gives an indication that the management of the Central Bank is not concerned with what is happening around it, as if it is in one valley, and the sanctions imposed on private banks are in another valley.”

Earlier today, Foreign Minister Fuad Hussein and US Secretary of State Anthony Blinken discussed the sanctions imposed by the US Treasury on Iraqi banks.

The US Treasury Department recently imposed economic sanctions on seven Iraqi banks, which were preceded by sanctions on fourteen Iraqi banks, preventing them from dealing in dollars, as the reasons behind imposing such sanctions were not explained.

almaalomah.me

"RV UPDATE" BY TEXAS SNAKE, 8 FEB

 TEXAS SNAKE

Banker has remained on the West Coast due to his wife's health condition but assures me he is in contact with Reno and will advise me as soon as he get his notifications which should occur just before the emails and 800 numbers are posted.  Says all remains positive.

While I do not plan on opening the room tonight having spoken  now twice to the banker today he is indicating he should hear something tomorrow and the absolute earliest notifications might be released would be Tuesday however he is more leaning to later in this coming week based upon past history.  Either way I will post immediately upon hearing.  GOD Bless.

Just visited with Okie re what the banker just related he was hearing to me from those above him that sometime late tomorrow or early Wednesday his appointment/exchange techs would be on call to schedule appointments.

  He hopes this time it is for real as do all of us waiting.........

https://dinarevaluation.blogspot.com/2024/02/texas-snake-notes-2-feb.html

Well hopefully will get my computer repaired in a few days and can at least share what little is being brought forward.

Just visited with Okie re what the banker just related he was hearing to me from those above him that sometime late tomorrow or early Wednesday his appointment/exchange techs would be on call to schedule appointments.  

He hopes this time it is for real as do all of us waiting.....

"IRAQ'S CURRENCY REFORMS THE STRATEGIC APPROACH OF CENTRAL BANK OF IRAQ"...

Washington renews its support for the Iraqi government in the field of economic cooperation, 8 FEB

Washington renews its support for the Iraqi government in the field of economic cooperation

Mawazine News – Baghdad

The United States of America renewed its keenness to continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.

A statement by the Iraqi Foreign Ministry received by Mawazine News said that “the Deputy Prime Minister and the Minister of Foreign Affairs received a phone call yesterday evening from US Secretary of State Anthony Blinken, as part of the follow-up to the most prominent developments and regional and international issues of common interest.”

He added, “During the call, the attacks launched by the United States of America on military and civilian sites in the areas of Okashat and Al-Qaim, which targeted Iraqi security forces that resulted in the martyrdom of a number of security forces and Iraqi civilians.”
The Deputy Prime Minister and Foreign Minister stressed “the rejection of the Government of Iraq for such attacks and the need to stop them and that Iraq is not an arena for settling accounts between the opposing countries, stressing the need to return to the table of dialogue and negotiations within the framework of the meetings of the Supreme Military Committee. The two sides also stressed the importance of working to strengthen the strategic partnership between the two countries and continue coordination and consultation during the coming period to follow up on the paths of joint action in order to face the increasing challenges in the region.”

Hussein touched on “the sanctions imposed by the US Treasury on seven Iraqi banks recently preceded by sanctions on fourteen Iraqi banks, as the reasons behind the imposition of such sanctions were not indicated, and whether Washington’s imposition of these sanctions came due to the lack of discipline of these banks in implementing instructions and banking compliance rules, or for other political reasons, especially as the US Treasury Department is in constant contact with the Central Bank of Iraq.”

He pointed out that “these banks have an important and significant role in financing the expenses of the ration card and providing the food basket for Iraqi families with limited income, and the minister officially called for a review of the US Treasury decision on the subject, and pointed to Iraq’s keenness to build partnership and cooperation relations with friendly countries and joint work towards confronting economic and security challenges in a way that supports the consolidation of stability in the region.”
For his part, the Foreign Minister stressed his keenness to “continue joint work and communication between the two sides, and to support the Iraqi government in various fields, especially in the field of economic cooperation.”

mawazine.net