[via PDK] Article: “Central Bank of Iraq is facilitating transfers”
...this has to do with the electronic platforms...the claim that they made...by government officials that Iraq has the most modern system in the entire middle east. This is big...It means that government officials will not be able to embezzle etc…this system will be very transparent for the people. This is a key part before they usually revalue currencies.
A currency dealer was talking about what they can and could no longer buy. The ones that have suddenly disappeared from the market …that are restricted and they cannot buy right now …this is a large scale buyer and they can no longer buy Iraqi dinar, Vietnamese dong, Venezuelan bolivar or Iranian Rial from their normal source. This is an international group that purchases currency. There probably still are some already at dealers but they will have a hard time replenishing supplies right now….if this doesn’t go very quickly.
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.”
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.
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.
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.
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.
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.........
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.....