JP Morgan I think is going to be extremely important to us...Don't just think that you're going to be limited to Chase and JP Morgan. I used [them as example] only so that it could be of help to you.
To guide you. At least you know where you can start. If you don't like them go somewhere else.
The conditions of the monetary reform are perfect. All the waiting that we've been having forever and ever is also very perfect because what we're waiting for is just one thing and one thing only, the new exchange rate. That's it. The evidence is, banks know now.
A Quarter Of A Million Employees In Kurdistan Opened Bank Accounts.. “My Account” Project Attracted 5 Banks, 13 MARCH
Posted On 03-12-2024 By Sotaliraq The Kurdistan Regional Government announced that the Islamic Bank of Iraq has joined the “My Account” project, bringing the number of participating banks to 5, confirming the establishment of more than 240,000 bank accounts for the region’s employees.
Statement by the Government of Kurdistan: The Kurdistan Regional Government is pleased to announce that the Islamic Bank of Iraq (IIB) will be one of the participating banks in the (My Account) project, along with other participating banks such as BBAC, Cihan, NBI, RT. The KRG expects other major banks to join by the end of this month.
To date, more than 240,000 bank accounts have been created for KRG employees and more than 120,000 bank cards have been distributed. The KRG’s partnership with banks has led to a significant increase in ATMs, and the employee registration process continues throughout the Kurdistan Region. The project continues its plan to register more than one million government employees by the end of this year.
This step comes as part of efforts to provide more banking services to citizens and paid employees.
]It is also a step towards providing healthy competition in the banking and financial services sector, and banks will be encouraged to increase their branches throughout the Kurdistan region.
The KRG expects to expand its partnerships with participating banks, especially with the introduction of digital payments starting next year. LINK
This is fascinating because this is coming from the Iraqi government today in the same context of Al-Sudani.
Article quote: "The Iraq government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1320.
Implementing such a decision is likely to significantly increase Al-Sudani's popularity." You think!? Bring the purchasing power of $0.76 - that's what it equates to...deleting the zeros just like we've been talking about.
They're not going to...build a country at 1310. The math doesn't work. I don't care how many times people try to figure that out. Think about it for a second...1310 dinars to buy a pencil but if you can buy 100 pencils for one dinar because the dinar is worth $3.00, $4.00 or more. How many pencils can you buy?
Think about that in bricks, steel, sewer systems, infrastructure, lighting, military operations, airplanes, guns and weapons, grocery stores at 1310 as opposed to 2, 3, 4 bucks. They specifically bring up and invoke 'previous eras' not me. I just report that...
Rafidain Bank links Four Border outlets to unified banking network
Shafaq News/ Rafidain Bank announced on Tuesday the integration of its branches at the Zurbatiya, Safwan, Arar, and Trebil border crossings into the comprehensive banking system.
This strategic move aligns with the government's efforts to streamline operations and transition from paper-based to electronic transactions.
Furthermore, the bank assured that it aims to simplify processes for customs agents and traders, introduce modern and transparent systems, and implement advanced electronic tools that adhere to global standards, to optimize operations at border checkpoints and enhance the country's non-oil revenue streams.
The bank emphasized that this integration is part of a larger initiative to support the government's objectives, the Ministry of Finance's programs, and the Customs Authority's digitalization agenda.
Article: "THE NEW IRAQI OIL LAW UNDERMINES THE DREAM OF KURDISH INDEPENDENCE"
Quote: "On February 21, the Federal Supreme Court ruled that the Iraqi Kurdistan Regional Government must hand over “all oil and non-oil revenues” to Baghdad. " This is a solid start to getting the Oil and Gas Law completed and to parliament for a vote. This must be completed to finish a Constitutional requirement to fully implement the new 2005 Iraqi Constitution. This was told to me a decade ago that this is critical to normalizing Iraq.
