All the contracts that Al-Sudani signed around the world are now being recalculated and being converted into dinars...That takes guts to do that. Normally a country would simply walk away and say forget you, up yours. But right now Sudani has so much power, he is in so much control that the world will bow to any of his demands concerning the economic reform of Iraq all because the monetary reform was successful and proven to them. They all want a piece of Iraq, at whatever cost.
No bank is going to exchange your Iraqi dinars. It is the wealth management departments. For example the one that we're using Chase is using JP Morgan. Chase is not going to exchange your dinar. JP Morgan is...
The 15th of April is interesting because we have him [PM Sudani] going over there [DC] but do we have to wait until the 15th of April to see the new exchange rate. No. Especially when Sudani says I have an announcement to make to you. He said he would do it during the Ramadan...
Welcoming Iraq's accession to membership in the European Bank
Economical 03/26/2024 Baghdad: Hussein Thaghab
Economic and financial experts in the public and private sectors unanimously agreed on the importance of Iraq’s accession to membership in the European Bank for Reconstruction and Development, and that in all cases it represents an important step that enhances its position within the global labor market. This accession comes at a time when the government and the Central Bank of Iraq are working to develop the Iraqi financial sector. And moving it to a better stage, commensurate with its economic weight on the global scene. Executive Director of the Association of Iraqi Private Banks, Ali Tariq, told “Al-Sabah”: Iraq needs such important steps that strengthen its financial position, at a time when efforts continue in full swing to develop the performance of the national financial sector, and that such partnerships will have a positive impact on National financial sector.
He stressed that the European Bank for Reconstruction and Development is an important financial institution, and that joining in itself is a positive step that complements the development effort that the country seeks, as everyone realizes that Iraq is an important field of work and a destination for many major international companies, which requires us to work to keep pace with global developments in the financial sector.
He pointed out that the efforts of the government and the Central Bank to develop the local financial sector are continuing and at their strongest, and such steps reinforce these trends, as they bring closer distances with important financial institutions.
The Prime Minister's Advisor for Financial Affairs, Dr. Mazhar Muhammad Salih explained the benefits of Iraq joining the European Bank for Reconstruction and Development. Saleh said to the Iraqi News Agency (INA): “There is a positive syndrome between building the development strategy that is embodied today by the government’s philosophy of launching a development initiative with comprehensive sectoral economic ties, which is called the (Development Road) project, which is the corridor and the strategic project that connects the countries of the European Union.” In Asia through Iraq and the Gulf sea lanes and vice versa on the one hand, and the requirements for implementing the various stages of the development path through the role that Iraq’s membership in the European Bank for Reconstruction and Development occupies on the other hand, especially in the preferences for obtaining European technology and ensuring the role of European Union countries’ companies in implementing the path. Development in all its aspects, whether in infrastructure, industrial production projects, and various logistical services.”
Financial and economic expert Dr. Salwan Al-Nouri described Iraq’s membership in the European Bank for Reconstruction and Development as important and strategic and puts Iraq on safe paths.
He said: Iraq cannot achieve sustainable economic development without the presence of important global partnerships that accelerate the implementation of development plans, by providing supplies that effort cannot provide. Locally, at the same speed as our local effort, which is represented by advanced technology and capital. Al-Nouri pointed out that the global effort can shorten the time and effort in the development process that Iraq seeks, as it has abundant capital and advanced equipment that can be used to serve the national economy, and this is not impossible, pointing out that such important partnerships with institutions have weight. On the global economic arena will enhance national development capabilities.
Economist Ahmed Maklaf said: Iraq’s accession to membership in the European Bank for Reconstruction and Development is a success in itself, as it contributes to changing the global outlook on the Iraqi business arena and moving it to a new stage, especially since many international banks are still afraid of being present in the Iraqi market even though they are... Realizes the importance of Iraq on the global economic scene. An official pointed out that the concerned authorities in Iraq must work towards building bridges of cooperation with the largest international financial institutions and be present inside Iraq with a weight commensurate with Iraq’s economic size, especially since Iraq represents the focus of important work in the region and the world, and that bilateral partnerships with Iraq are of great benefit to all. the parties.
A pivotal moment looms on the horizon with Iraqi Prime Minister Mohammed Shia al-Sudani slated to visit Washington DC on April 15, 2024. President Biden is set to host this crucial meeting...It's not all about military...the meeting is also expected to tour upon Iraqi financial reforms...This is the reason this meeting is important for Iraqi dinar investors. The US...undoubtedly has a vested interest in the successful implementation of these reforms.
Article quote: "Salih summarized on Friday the benefits of Iraq's accession to the membership of the European Bank for Reconstruction and Development." It looks like Iraq is doing everything possible to join the international financial platforms. We need to wait and see how this will affect our ability to exchange our Iraqi dinar bank notes for US dollars.
There is absolutely no law against carrying large sums of cash...You can travel with as much money as you want.
However, there is a catch. If you are entering or leaving the Untied States with more than ten thousand dollars in cash or equivalent, you are required to report it to customs and border protection.
This rule applies whether the cash is in U.S. dollars or in a foreign currency...You need to complete a "FinCen 105 form"...
What happens if you don't report more than 10 thousand dollars in cash?Failure to report can lead to seizure of the money...You may also face criminal charges...Remember these rules...it's always better to be safe than sorry.]
Iraq has completed the necessary prerequisites to join the World Trade Organization WTO. This pivotal development reported by Gulf News marks new chapter in Iraq's economic journey...
Joining the WTO is not a mere formality, it necessitates a commitment to aligning with WTO rules by enhancing private sector performance and overhauling trade policies.... Membership in the WTO is a significant milestone for any country.
Al-Sudani announces the movement of nearly 500 stalled projects in Iraq
3/27/2024
Prime Minister Muhammad Shiaa Al-Sudani announced, this Wednesday morning, that his government has begun moving hundreds of stalled projects in various sectors in all governorates of the country.
This came during his pre-dawn inspection tour of the Nisour Square project site, which is one of the projects to relieve traffic congestion west of the capital, Baghdad, accompanied by the Minister of Construction and Housing, and the official of the implementing Chinese Railway Company, according to a statement issued by the Sudanese Media Office.
The Prime Minister expressed his appreciation for the continuation of work 24 hours a day, with three meals a day, in order to speed up completion and bring the project into service.
Al-Sudani stressed, in a speech to the workers, that this project is one of the most accurate and important projects for the movement of citizens in the capital, praising the efforts of the workers on the site and the supporting parties that maintained the work in the spirit of one team.
He stated that the package of projects to relieve traffic congestion will contribute to reducing the waste of citizens’ time, reducing pollution in the capital, and facilitating the flow of traffic, stressing the necessity of maintaining engineering specifications in implementation.
The statement quoted Al-Sudani as saying, “The government is continuing to move the stalled projects in all governorates and all sectors, as more than 490 projects have been moved and returned to work in a record period of time. It is an approach whose results are being followed by citizens who see the seriousness and clarity in it.” LINK
[via WiserNow] I think we're going to be pleasantly surprised by what should be happening this Easter week...Thursday is looking very good for us...So the idea is that we do get started this week before the end of the month and that's a very positive thing...that is really good news...I'm excited about this week guys...
[via WiserNow]
...I feel like we're making the final turn on the track. We're getting ready -
We're in the homestretch before we cross the finish line..
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On Mon. 11 March Admiral Bob was told by the US Treasury that he had the Green Light and to get out notifications to set appointments to his group. Tier4b (us, the Internet Group) was also supposed to be notified today Tues. 12 March and start exchanges tomorrow Wed. 13 March but there came up a situation where the IRS was trying to find a way to tax the money.
That situation was shut down, but it delayed the process for 24 hours. Tier4b should expect to receive notification to set redemption appointments any time from 8pm EST Tues. 12 March to noon on Wed. 13 March and should be exchanging by Wed. 13 March afternoon-evening.