Article: "Advisor to the Association of Banks: The Central Bank is following a consistent approach to achieving banking reform"
Quote: "the management of the Central Bank of Iraq plans to gradually cancel the window for selling foreign currency during the year 2024, until it leaves it completely." ..
.this is huge news... Iraq cannot end the auctions unless they have an alternative to the auctions... which means they plan to float the dinar by the end of the year...floating the dinar will give them a new mechanism to maintain the dinar, the CBI will buy and sell blocks of dinar like other central banks do to maintain their currency...
They will also have to use dinar to pay for goods and services which will make the dinar internationally traded...they want the banks and Iraq to establish relationships around the world with International standards and full compliance which means that means IMF Article XIV...This seems pretty clear and excellent news. We very well see that Iraqi dinar float on the global market at the end of this year or early next year...I think it's very promising...it definitely is very good news.
Al-Hakim and Al-Khazali in the Eid sermon: We support Al-Sudani’s visit to Washington and hope for its success
4/10/2024
Asaib Ahl al-Haq, Qais al-Khazali, said today, Wednesday, that the visit of Prime Minister Muhammad Shia al-Sudani to Washington is important and we hope that it will be a success. The leader of the National Wisdom Movement, Ammar al-Hakim, also expressed his hope that the visit will enjoy Iraqi support and consensus to enable the government to facilitate dialogue and negotiation.
Al-Khazali during the Eid sermon, followed by Network 964:
The position of Prime Minister Muhammad Shiaa Al-Sudani, and the coordination framework, is clear in not agreeing to the continuation of the foreign military presence.
The Prime Minister's upcoming visit to Washington is important, and we hope that the visit will be a success.
There is international will, planning, and action that created the terrorist organization ISIS, and the Iraqis are able to complete their security and political sovereignty.
Al-Hakim during the Eid al-Fitr sermon, followed by the 964 network:
There is an upcoming visit by the Prime Minister to Washington and a meeting with the President of the United States of America and senior officials there. We believe that this visit is important and must have Iraqi support and consensus to enable the government to facilitate dialogue and negotiate the future of Iraqi-American relations, which are taking on new dimensions according to the ongoing discussions, dialogues and negotiations. .
Iraq wants to establish a strong partnership with all countries of the region and the world within the framework of mutual respect and common interests, while respecting its sovereignty and preserving its independence by all, and in a sound atmosphere that enables everyone to make the right and fruitful decisions. LINK
Article quote "Al Sudani uttered a very important phrase,
'keep the dinar...I bear witness that the Iraqi dinar will return to its lofty economic value as it was'..." Lofty economic value is not 1310. It's not 1159. It's not 1182 or 1160 or any of those number. It's back to previous era like they said. They shut this thing down at...$3.22...
The true value from the IMF...estimates were about $2.80. Those are their words not mine and in print...They can support it...Remember, Iraq was at $35 a barrel of oil. It's $85 right now. Then add in all the extra revenue streams that we know of...They're massive and they're just going to keep growing.
Article: "Dinar and dollar " This piece was from March 4th, 2024 and is redone again fresh today.
By stating they are going to overthrow the dollar very soon will be making it hard for the citizens to want to let their dinar go. Al-Sudani stated as we noted before to keep the dinar, as it will return to its lofty economic value, as it was before.From, what we know, there is a lot of issues on the table that are exchange rate oriented.This is a good sign.. imo. They are not letting the idea or the expectations of increased value to the dinar go away.
UAE and Iraq Strengthen Economic Ties: Strategic Partnership and Investment Plans Unveiled
During a significant meeting at the headquarters of Iraq's International Development Bank (IDB) in Dubai, UAE Minister of State for Foreign Trade, Thani bin Ahmed Al Zeyoudi, underscored the United Arab Emirates' dedication to deepening its strategic partnership with Iraq. The focus is primarily on enhancing trade and investment cooperation across various sectors, aiming to benefit both nations economically and socially.
Expanding Economic Connections
Al Zeyoudi highlighted the positive impact of the UAE and Iraq's commitment to strengthening their economic ties, emphasizing mutual investment flows and non-oil commerce. Discussions during the visit centered on areas of mutual interest, the pivotal role of the IDB in fostering trade and investment relations between the two countries, and exploring potential avenues for cooperation. These efforts are directed towards increasing the potential for successful partnerships among the business communities in both nations and advancing trade and investment in key sectors.
Role of the International Development Bank
Al Zeyoudi was briefed on the IDB's ambitious plans and the remarkable achievements of its Dubai branch within just 18 months of its establishment. The branch has notably managed about 10 percent of the total trade exchange between the UAE and Iraq, which exceeds $27 billion annually. This accomplishment not only showcases the growing economic ties between the two countries but also highlights the IDB's crucial role as a catalyst in enhancing these relations and connecting both markets effectively.
Future Prospects and Economic Impact
The ongoing efforts to bolster UAE-Iraq economic relations through strategic partnerships and investment cooperation promise to open new avenues for business communities and the private sector in both countries. By focusing on non-oil commerce and mutual investments, the UAE and Iraq are setting a precedent for how countries in the region can work together to achieve mutual economic growth and prosperity. The IDB's successful management of a significant portion of trade transactions between the two nations further underpins the potential for continued economic collaboration and the strengthening of ties in the years to come.
FRANK26: "ONLY BECAUSE OF THE MONETARY REFORM SUCCESS.".......F26
Al-Sudani: Today we are moving towards economic construction and comprehensive reform
4/9/2024
Baghdad
Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, that the National Service Government is moving towards economic construction and comprehensive reform.
Al-Sudani said, in a statement received by “Al-Iqtisad News”: “April of this year will return to us, and Iraq will regain its health and historical civilizational launch, and will enjoy security and stability, proceeding with development and reconstruction. These are gains that were achieved through a long process of sacrifice, patience, and jihad against tyranny. Our people sacrificed precious lives, and caravans of martyrs were among the finest men and women.”
He added: "The dictatorship fell after it delved into injustice and plunged the country into bloody wars and conflicts, causing isolation and hostility and sowing hatred in the region. Our people reaped death, destitution, backwardness and disease, and lost on the path to freedom an elite group of martyrs of the Islamic and national movement, whom we remember in this regard." Especially today, on the anniversary of his ascension as a martyr, Grand Ayatollah Sayyed Muhammad Baqir al-Sadr, whose execution represented a disgrace to the black Baathist regime.”
The Prime Minister continued: “Our people chose their own fate after the fall of the regime, through persistence and determination, which created a bright picture for their future, resisted terrorism, wrote their permanent constitution, and elected their parliamentary representation and national governments. Then the forces of evil returned to appear in the guise of the mythical ISIS, and the Iraqis pulled together their ranks once again.” They showed a commitment to the land and life that was rarely matched.”
He stated: “The journey of the past twenty-one years has been the best document of the cohesion of Iraqis and the confirmation of common living for all fraternal sects, and today, we are moving together, under the National Service Government, towards an advanced stage of economic construction, comprehensive reform, social and civil service, and consolidating Rights and stability are on the rise, expressing a vision developed by our government’s program, in light of the needs of citizens, their aspirations and their wishes for their country.”