In a mini sting operation last Wed. bankers were told no early exchanges – some banks jumped the line and some of the banks that needed to be cleaned up were taken care of – so now where do we stand now as to our start.
We got an email about
3pm today Tues. 5 March saying we were within 24 hours of being notified and getting our notifications and setting our appointment. We had this confirmed from two different RC’s.
We know the Iraqi Dinar has been trading up on the screen and they are still blinking and moving upwards, but not stable – so what are we waiting on – I think they just want the currencies to hit the values they want to start and we will be rewarded for our patience and especially if you use the RC and we should if this holds true we’ll get our notifications tomorrow Wed. 6 March.
When it comes to R&R allowances that is supposed to kick in when the USTN is released between 14 -16 March.
They are able to set those appointments 20 – 25 days into the future.
WF is the Lead bank and HSBC are handling everything globally and Chase are going to have 15 banks in Iraq by the end of this week. Banco Santandar will be the bank in South America.
THE ASSETS OF THE CENTRAL BANK OF IRAQ AMOUNT TO 207 TRILLION DINARS.. WHAT DOES THIS MEAN?
The assets of the Central Bank of Iraq rose to 207 trillion Iraqi dinars, according to a new economic statistic seen by Al-Sumaria News.
According to statistics published by the head of the Future Iraq Foundation for Economic Research and Consultation, Manar Al-Obaidi, the assets of the Central Bank of Iraq are as follows:
* Securities and bonds, 71 trillion Iraqi dinars * Debts to the Ministry of Finance, 45 trillion Iraqi dinars. * Balances with external banks 26 trillion Iraqi dinars * Balances with external central banks 24 trillion Iraqi dinars * Loans granted within the Small and Medium Enterprises Initiative 12.6 trillion dinars * Existing gold reserves 12 trillion dinars * Accounts with international organizations 12 trillion Iraqi dinars * Foreign exchange reserve there are 443 billion dinars in the bank’s coffers * Balances in local banks are 153 billion dinars * Total assets are 207 trillion Iraqi dinars.
Bank assets: Also called “bank assets,” it means everything the bank owns that can be converted into liquidity in time of need. This includes various physical assets such as banks, loans, reserves, the bank’s deposits with third parties (with other banks), and investment securities; As well as the cash in the bank’s vault.
In conjunction with this statistic, the Central Bank announced, today, Wednesday, that the volume of deposits in the banking sector had increased to 131 trillion dinars and the volume of foreign reserves to 148 trillion dinars.
Deputy Governor of the Central Bank, Ammar Khalaf, said in his speech during the opening of the eighth annual exhibition and conference for finance and banking services in Iraq, that “last year witnessed clear growth with most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion dinars in 2022.” 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 and a half trillion dinars, in addition to an increase in the volume of credit in the banking sector from 60 trillion to 69 trillion dinars in 2023, in addition to an increase in credit to the private sector from 35 to 40 trillion dinars. In addition to the increase in the volume of foreign reserves from 140 to 148 trillion dinars.
He continued, “The efforts led by the Central Bank of Iraq in cooperation with the government, especially with regard to expanding the use of electronic payment tools, as there was a clear rise and growth in electronic payment tools in Iraq, as the number of POS points of sale increased from 10,000 devices in the year 2022 to more than 20,000 devices in the year 2023, and the number of ATMs increased from 2,223 devices in the year 2022 to about 3,000 devices in the year 2023, as for the number of electronic cards of various types. Its types reached about 16 million cards in 2022 and 18 million cards in 2023.”
He noted that “last year witnessed great cooperation between the government and the Central Bank, especially with regard to enhancing confidence in the national currency through various decisions issued by the Council of Ministers and the Central Bank.” He pointed out, “The Central Bank seeks to strengthen banks by increasing the capital of all banks from 250 to 400 billion dinars.”
Question: "Why would [Iraq] let anyone benefit from this?" Why wouldn't they? It's the Iraqi people that really need to benefit from this...It's not their fault their leaders are all wack-a-doodles...
There's enough resources in Iraq where they should be living pretty dang good over there. Increasing the exchange rate and giving them more purchasing power would definitely change their quality of life...Once Iraq can get their crap together and it looks like they're there - No more sanctions, get into the World Trade Organization, get back on the Swift system...
Forex, finish the Port of Faw, finish with the Development Road Project, all those things are going to bring a lot of money into Iraq and their currency is only going to get stronger.
FIREFLY:TV is saying investment in Iraq is over the last three years up 60%.
FRANK: The world is pouring in and they can...
FIREFLY: It's a great sign of stability and security and they're saying with these projects on board investments are only going to go up from there to an all-time high... FRANK: All these reports are good. I believe soon you will be celebrating a new exchange rate for your lower notes.
FIREFLY: Parliament Finance is calling in the CBI to open bank branches outside of Iraq.
FRANK: Too late,
That's been going on a while! All last year we already told about the private banks of the CBI - They're going to retrieve the 3-zeros outside of Iraq because 97% or more is already been retrieved inside...The satellite banks are all over the world right now are ready to collect the 3-zero notes...All of these actions are to introduce the new exchange rate and the new national sovereignty to you, Iraqi citizens.
FIREFLY: Bank friend...in his opinion a new rate that will float. We're going to have gateway from Iraq to European side in trading. It will be amazing...The deletion of the zeros is near...Four different experts of the economy being sent to us by the CBI saying what is needed to be done with the zeros. It's no secret.
FRANK: He's 100% correct. I keep telling you it's here.
