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Governor of the Central Bank: Setting basic rules to monitor the process of remittances, 15 MARCH

Governor of the Central Bank: Setting basic rules to monitor the process of remittances

The Governor of the Central Bank, Ali Al-Alaq, pointed out, on Thursday, to set basic rules for monitoring the process of remittances and analyzing monetary operations.

The Media Department of the House of Representatives said in a statement received by {Euphrates News}, “The financial committee headed by Atwan Al-Atwani and the presence of its members with the Governor of the Central Bank Ali Al-Alaq met to discuss monetary policy and the banking system in the country and ways to increase the value of the Iraqi dinar.”

Al-Atwani stressed “at the beginning of the hosting held at the headquarters of the committee on the importance of following up the economic file and monetary policy, based on the regulatory hanab, and finding appropriate solutions to the obstacles facing the work of the Central Bank.”

The Finance Committee also expressed its aspiration to coordinate with the Central Bank in order to increase the value of the Iraqi dinar, control the market in order to relieve citizens, and address the deficit.

For his part, the Governor of the Central Bank reviewed the economic and monetary aspect, pointing to the establishment of basic rules for monitoring the process of remittances and analyzing cash operations.

Al-Alaq praised “the role played by the Finance Committee in following up the financial and economic movement of the country.”

The committee discussed with the Governor of the Central Bank the adopted international standards, future plans to improve the reality of banks, the possibility of expanding relations with international banks, drawing the structure of banks, and moving towards the electronic payment process, in addition to the possibility of amending the Central Bank law.

https://alforatnews.iq/news/محافظ-البنك-المركزي-%C2%A0وضع-قواعد-أساسية-لمراقبة-عملية-الحوالات-المالية

"RV UPDATE" BY PIMPY, 15 MARCH

  Pimpy

   I hold millions of dinar and people act like I don't want the $3.22 exchange rate with the current currency, 'No, Pimpy doesn't like it.  He doesn't believe in it.'  What the hell are you talking about?  I own millions of dinars.  Nothing would make me more happier than them to jump up to a $3.22 rate and keep the same bank notes that we got now.      

 Can the Iraqi dinar get as valuable as a Kuwait dinar?   Of course it could.  There's a lot of hurdles there.  Are they [Iraq] going to be reinstated?  No.  Two different stories.  The invasion and occupation [of Kuwait] was about 7 months...The Kuwait government was still able to do business as usual outside of Kuwait, use the money they had in their reserve fund.  Iraq did not have that, not to mention the fact that Saddam Hussein... printed the hell out of the Iraqi dinar causing the value of the Iraqi dinar to drop...You can't compare Iraq to Kuwait because there's no comparisons...

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UrgentA high-level Turkish government delegation visits Baghdad today for security consultations, 15 MARCH

 UrgentA high-level Turkish government delegation visits Baghdad today for security consultations

The Turkish Foreign Ministry announced the visit of a high-level government delegation to the capital Baghdad on Thursday.

She said in a statement received a copy of it that “Foreign Minister Hakan Fidan will visit the capital Baghdad on Thursday, and be accompanied by the Minister of Defense {Yishar Güler}, the head of the National Intelligence Service {Ibrahim Kalin} and Deputy Minister of Interior {Munir Karaloglu},” she said in a statement.

The Turkish Foreign Ministry indicated that the visit “to attend the meeting of security consultations with Iraq to be hosted by Foreign Minister Fuad Hussein” in Baghdad.

She pointed out that “various topics on our bilateral agenda will be discussed during the meeting, especially cooperation in the fields of combating terrorism, security and military cooperation.”

 https://alforatnews.iq/news/وفد-حكومي-تركي-رفيع-يزور-بغداد-اليوم-لعقد-مشاورات-أمنية

"RV UPDATE" BY MARKZ, 15 MARCH

  MarkZ 

 [via PDK] 

 Question:  Anyone heard anything about Iraq going by itself - not all countries?  

MarkZ:  A person in our community had an interesting conversation. He has a personal relationship with a banker. 

 Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial.He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal... "  

 I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, it's best to be prepared. 

  Question:  if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float?  MarkZ:  I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values.

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