The best in the region... international praise for the infrastructure of electronic payment systems in Iraq, 9 FEB

 The best in the region... international praise for the infrastructure of electronic payment systems in Iraq

The World Bank confirmed on Wednesday that the infrastructure for electronic payment systems in Iraq is the best in the region.

A statement from the Central Bank received by Mawazine News stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, received a delegation from the World Bank headed by the Director of the World Bank’s office in Iraq, Richard Abdel Nour.”

He added, "During the meeting, strengthening bilateral cooperation between the Central Bank of Iraq and the World Bank was discussed, and electronic payment projects and financial inclusion were discussed, as well as reform programs to enhance the stability and development of the financial sector."

He explained, "The two parties discussed the support of the World Bank to provide advice in establishing the Riyada Bank dedicated to financing small projects in Iraq, with the support of the International Finance Corporation."

In turn, the World Bank delegation praised “the Central Bank of Iraq’s procedures in facilitating financial transfers to different segments in Iraq,” noting that “the infrastructure for electronic payment systems and software systems in Iraq is among the best systems in the region.” link

"RV UPDATE" BY MILITIAMAN, 9 FEB

 Militia Man 

 Article Quote:  "Ending the mission of United Nations office in Iraq takes Iraq out of Chapter VII"  

Who hasn't been waiting for Iraq to get the last shackles off their back?  

Quote:  "Chinese representatives in recognition of the existence of a state of political and economic stability in Iraq gives Al-Sudani the opportunity to ask the Secretary General of the Untied Notation to end the work of the Untied Nations office in Iraq or at least reduce it and then Iraq will exit from chapter VII. "  ...That's pretty powerful data...Could he have already asked?  ...I'm really pleased with this.

 We're in the process of watching it unfold...Everybody should be able to be excited because the news is collectively showing Iraq is moving to a private sector/market economy and there's partnerships with the public to be able to facilitate it.

RV Process is Unfolding!💣New Lower Notes in Banks?🤔Iraq Dinar RV Updates...

PM Al-Sudani highlights corruption issues with a Lebanese delegation, 9 FEB

PM Al-Sudani highlights corruption issues with a Lebanese delegation

Shafaq News/ On Thursday, Iraqi Prime Minister Mohammad Shia Al-Sudani met with a Lebanese delegation from the Anti-Corruption Commission, headed by Judge Claude Karam.

According to Al-Sudani's media office, both sides discussed various topics, including requests for legal assistance, extradition procedures for corruption suspects, recovery of stolen funds, and exchanging information on accused and wanted persons.

https://shafaq.com/en/Iraq-News/PM-Al-Sudani-highlights-corruption-issues-with-a-Lebanese-delegation

"BANK STORIES" BY FRANK26, 9 FEB

 Frank26  

 [Personal Ohio Bank Story]  

 FRANK:  I'm here to talk to you about your bank...I asked, Here at Chase do you folks exchange foreign currency?

  He said no, we do not.  I found it odd...something was very wrong...Second Question, If you don't exchange foreign currency why is Jamie Dimon the CEO in Iraq? ...

 [He said] No he's not.  My next statement almost started WW III...Sir, you are very ignorant.  You're in charge of this bank and you're answering my questions incorrectly...

I said let me try that again, Does Chase convert foreign currency into American dollars? 

 No.  J.P Morgan does.  

..So Chase is a bank and JP Morgan are the investors of Chase Bank right? 

 Yes...They will exchange your currency..

.He softened up a little bit.  He asked, What do you have?

 ...The Iraqi dinar...

How much? 

 I made up a number.  I have over 200 million dinars. 

 He said, you're not going to be exchanging your dinars here at Chase.   We can't handle that.  You have to go to a state bank...

Where should I take my dinars to have them look at them, inspect them and then deposit them correctly? 

 He said New York [or] Chicago...You come here to my Chase office in Toledo Ohio we'll zoom with Chicago. 

 You're going to come to me?

  Yes...We'll make an appointment.  The Brinks truck will come, a representative will come.  They will verify it.  They will have all the equipment they need...

Frank26  

[Georgia Truist Bank story follow up from last week]  

 BANK VISITOR:  The lady I was supposed to be speaking with was out with the flu... [A new financial advisor] calls me and honestly it was a little confusing because the guy...acts like he didn't know anything.  In fact...he said...I'm pretty sure this is a hoax.   

FRANK:  First recording [story]...the lady says we know, we're preparing.  Here is at the same bank with another officer that says [the opposite]...The same bank, you had people that know what's going on and then you have another person that doesn't know what's going on.  One gives positive information and one gives negative information.  They're both from the same source.  That's the problem with a speculative investment. The evidence is out.  It's not a secret... 

Breaking News📢Iraqi Dinar New RV Update Today 2024 / Iraq Currency / Ira...

Resilience of Iraq's banking system: Economist's confidence amid US sanctions, 9 FEB

 Resilience of Iraq's banking system: Economist's confidence amid US sanctions

Shafaq News/ Iraqi economists express confidence in the resilience of Iraq's banking system despite the sanctions that the US Treasury imposed on a group of banks in Iraq.

Mahmoud Dagher, an economic expert and former director-general of the Central Bank of Iraq (CBI), clarified that this measure was not a sanction, rather, it was a restriction, which adversely affected the banks, the people, and the import financing process. 

However, Dagher emphasized in an interview with Shafaq News Agency, "despite the pressure and harm caused to these banks, the banking system will not collapse as a result of these sanctions and restrictions." 

The US Treasury imposed the sanctions on 14 Iraqi banks in July 2023 as part of a campaign against Iran's dollar transactions. The sanctions were reportedly prompted by the banks' involvement in "suspicious" money transfers during the past year. 

Deputy Prime Minister and Foreign Minister Fuad Hussein has appealed to the United States to reconsider the sanctions imposed on 21 Iraqi banks that contribute to financing essential food items for low-income families. 

Furthermore, the CBI issued an official letter in February, indicating that 8 Iraqi banks were banned from participating in the foreign currency sale and purchase window. 

Following the fall of Saddam Hussein's regime after the US invasion in 2003, Iraq's private banking sector has experienced significant growth, with over 70 private banks now operating in the country.

https://shafaq.com/en/Economy/Resilience-of-Iraq-s-banking-system-Economist-s-confidence-amid-US-sanctions