Iraqi Dinar | I Know I See A Rate Change A SHO NUFF Rate Change | Iraqi ...

Sudani issues directives regarding the expansion of Baghdad International Airport, 26 FEB

 Sudani issues directives regarding the expansion of Baghdad International Airport

Economy News – Baghdad

Prime Minister Mohammed Shia Al-Sudani directed, on Sunday, to take observations and proposals for plans to develop and expand Baghdad International Airport.

The Prime Minister’s Information Office said in a statement received by “Economy News” that “the Sudanese, chaired a meeting that included representatives of the International Finance Corporation (IFC), and the committee concerned with preparing plans for the rehabilitation and expansion of Baghdad International Airport.”

He added that “the Sudanese was briefed on a detailed report on the prepared plans, implementation mechanisms, and a number of observations were made about them and the most important proposals; to overcome some of the problems facing work.”

Al-Sudani, according to the statement, directed “to take the observations and proposals for the plans for the development and expansion of Baghdad International Airport and discuss them thoughtfully to come up with a vision that is consistent with the government’s approach and direction, with regard to Baghdad International Airport being with specifications that comply with approved international standards, and improves its services, and be an important interface worthy of Iraq’s reputation and civilizational status.”

https://economy-news.net/content.php?id=40839

THE DINAR IS A TIER 2 ASSET BY ARIEL, 26 FEB

The Dinar is a Tier 2 Asset

Sunday, 25 February 2024

What I am about to upload needs to be read carefully. Because it goes back to a lot of what I explained to you all. One thing you need to understand is that you hold what banks need during the transition period.

And that is a Tier 2 asset called the Iraqi Dinar. The article will explain this to you on a formal basis.

By having a strong Tier 2 capital base, banks can weather financial storms more easily and maintain their ability to lend money and support the economy. That’s where you come in. Your IQD is going to play a pivotal role once it is reinstated on the Forex Market

Iraq will officially connect to corresponding foreign banks on March 1st to improve external balances.

After that will be the next big step and that’s becoming Article 8 Compliant and reinstating the IQD on global trade markets. After you read the article you will understand why banks had the meeting on February 20th for Tier 2 assets.

FRANK26……2-25-24……THIS IS IT

The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023, 26 FEB

 The Value Of Electronic Payment Exceeded 9 Trillion Dinars During 2023

Economical 02/25/2024   Baghdad: Hussein Thaghb  There is a consensus from the public and private sectors on the necessity of regulating the reality of electronic collection in Iraq after the local market witnessed great interaction using electronic payment and the value of use increased remarkably in 2023 to exceed 9 trillion and 661 billion dinars through financial movements exceeding 15 million transactions.

Participants in the workshop on enhancing electronic government collection, organized by the Iraqi Private Banks Association with the support of the Prime Minister’s Office and sponsored by the Central Bank of Iraq,

described electronic payment as an important new stage that guarantees the paths of funds and makes them more transparent, but it is not without challenges that can be overcome in cooperation with the Central Bank and specialized companies.

Governor of the Central Bank of Iraq Dr. Ali Al-Alaq said:

The successes achieved in the field of electronic payment stem from the great support given by Prime Minister Muhammad Shiaa Al-Sudani to this important project.

We also value the efforts of the ministries that interacted with this project and gave it priority, pointing out that the launch of electronic collection comes as a translation of the Central Bank’s objectives in Adopting advanced technologies in electronic payment. 

Al-Alaq stressed that electronic collection contributes to strengthening government financial resources and operates in a transparent environment in light of the components provided by the Central Bank.

The project targets ministries and non-governmental institutions at the same time, and the citizen can now pay from anywhere and this is for the optimal use of cash.

Director General of Payments at the Central Bank, Adnan Asaad, indicated that the decisions of the Council of Ministers had a positive impact on activating electronic collection, especially in the second half of 2023, pointing out that the total collection from gas stations exceeded 10 billion dinars, and the number is expanding, as is the number of employee cards.

In localization services as of June 2023, it amounted to 8,653,310, and the total electronic collection through electronic payment gateways in the year 2023 exceeded 108 trillion through financial transactions exceeding one million transactions. 

Asaad pointed out that the commissions charged to citizens in electronic payments are “zero” and in the public and private sectors, and this issue requires expanding the citizen’s culture, and here is the responsibility of all concerned institutions.

Executive Director of the Association of Private Banks, Ali Tariq, said:

The workshop brought together most of the state institutions and the private sector with a large and qualitative presence that witnessed identifying all the problems facing the ministries in this important project, and working to solve them through coordination with the companies and institutions concerned.

Tariq stressed that the great cooperation shown by the team of the Central Bank of Iraq and specialized companies with the presence of the Association of Banks achieves smooth work and contains all the problems or challenges facing some institutions, pointing out the presence of financial expertise capable of mastering advanced technology and employing it in the correct manner, and that the training carried out in We have begun to see positive results in this aspect,

and we now have a developed work team in Iraq, where the Association has prepared continuous training programs for several years that enable human resources to use advanced technology.

As for the representative of the International Smart Card Company, Ghazi Al-Kanani, he pointed out that the reality of electronic payment has begun to expand significantly, and the citizen has begun to interact greatly with the electronic services that are provided, and this came after the citizen felt the positives provided by this project, pointing out that electronic payment was established with the aim of providing The best services and mechanisms that facilitated his daily life.

He stated that  electronic collection will follow the collected funds to their legal destination without tampering, and will enhance the federal budget with large revenues, pointing out that Iraq is facing a new phase that preserves the funds’ paths and takes their destination to the appropriate place.

As for Traffic Major General Adel Al-Araji, he said:

Electronic collection is a new experience and has faced several challenges due to the ramifications of revenues and the lack of educational campaigns.

 He pointed out that there are committees in the General Traffic Directorate that supervise electronic payment operations, noting that collection in the Karbala Traffic Directorate reached 100% and in Basra 60%. He emphasized the work to allocate one day each week for electronic payment, as  we have platforms that work exclusively on electronic payment.

As for the representative of the Ministry of Oil, Yasser Ammar, he confirmed that the Ministry had circulated the electronic collection experience from the first quarter of 2023.

There were challenges to completing the work, but we worked to overcome them, pointing out that  all 350 government stations operate with electronic payment.

As for the representative of the Minister of the Interior, he confirmed that the Minister of the Interior directed the adoption of electronic payment and that collection and collection be electronic from May 1, 2024, pointing out that

there are challenges that are being addressed in cooperation with the concerned authorities, and that the  Ministry believes in developing the performance of electronic payment and what rises to global performance.    https://alsabaah.iq/92335-.html

"RV UPDATE" BY SANDY INGRAM, 26 FEB

 Sandy Ingram

  The interest rate in Iraq averaged 6.17% from 2004 until 2024 reaching an all time high of  20% in December of 2007 and a record low of 4% in March of 2016.  6.17% is a high rate, yet they still are having trouble getting  the Iraqi people to put their money into the bank.  Iraq does have a bank deposit protection program similar to the US's FDIC. 

  [Dinar Guru NOTE:  For comparison the average US bank account  offers .47%.  You can find high yield savings accounts that offer  around 5%]    

 The problem for Iraqi dinar investors is no US banks and few banks worldwide will allow transactions using the Iraqi dinar. 

 Bankers turn their noses up when people ask about Iraqi dinar and this is one of the reasons the investment is called shady.

ANALYSIS OF IRAQ NEWS

 Iraq's tourism could easily increase to over 10 billion US dollars a year,  comparing it with Egypt's tourism. 

The problem for people in the United States is no bank in the US will do any transactions using the Iraqi dinar.  Until this changes we have to find other ways to pull our profit out of Iraq.  We can do this.  I found one way and will discuss it in a an upcoming [post]...   

 There is an organized effort in Iraq to never revalue or increase the value of the currency abasing the US dollar or to provide profits for people in the west...Between the different factions within Iraq, revaluing their currency, even when they can afford it, may not be on their agenda...

 Iraq is getting closer to a currency reset...Iraq's rail plans have investors worldwide watching carefully...The rail connection in Iraq from the Gulf to Europe will change Iraq's economy.  This same method of increasing the GDP was recently used by Mexico when they built a connecting rail system...Mexico's exchange rate increased against the US dollar and now Americans are spending more money to live in Mexico... This is one of the major paths that can lead to a higher GDP and a higher value in the currency.  The project is set to start in early 2025.

The International Monetary Fund has consistently recommended Iraq develop additional streams of income outside of the oil industry.  Iraq holds a significant amount of the world's history within its borders...What is  needed is security and safety for travelers.  Once safety issues are address and the Euphrates and Tigris Rivers are flowing again there will be substantial annual revenue to help boost Iraq's GDP. 

 "  Iraq's central bank revokes Iran's Bank Melli operating license"  This article tells us the US is serious about not allowing Iran to have access to US dollars.  It also tells us Iraq is serious about aligning with the US Treasury Department to maintain access to over one hundred billion US dollar of its money in the Federal Reserve.

 Vietnam is making major financial news.  Vietnam factory activity returns to growth status after the pandemic, tourist arrivals increased by 73.6% in January and retail sales are still growing for the 26th straight month.  The inflation rate is at a five month low of 3.7%.  Overall Vietnam has green lights on all growth patterns...Vietnam knows precisely what to do to bring the value of its currency back into the line of profit...

https://dinarevaluation.blogspot.com/2024/02/rv-update-by-sandy-ingram-12-feb_040016202.html

Needs investing Iraq?😭😭 by NADER FROM MID EAST