Today I was watching the news. I was watching Sudani in the street and it got me all excited. Got me happy. It's been a while we didn't see a leader who cares about the people, who cares about the country...He was walking in the street at least for 2 hours...It's great to see that. He give confidence. It gives hope.
I hope he continues like that...It's amazing what's going on in Iraq. I love it.
This visit to United States it was really good. All this contracts they signed...all these people want to go to Iraq to do business, start businesses. It's great. Now they have the ball in their hands so we see what they're going to do with it. They're going to score or pass on the side again?
The President of the Association of Iraqi Private Banks, Wadih Al-Hanalal, participated in the Arab Economic Security Forum organized by the Union of Arab Banks in Beirut.
Al-Hanalad stressed that the forum is held in complex circumstances and geopolitical changes witnessed by the region, and the Arab banking sector began to be affected, starting with the State of Iraq, adding that Iraq still faces great challenges, at various economic levels, including depriving the Iraqi private banking sector of the use of the dollar, which exceeded half of the number of banks operating inside the country, which is a very dangerous indicator, despite the quest of Iraqi government and private institutions to comply with local and international anti-money laundering and terrorist financing laws, but for the first time we are witnessing a clear targeting of the sector that began to affect banking services inside the country, destabilizes the confidence of citizens, and hinders the expansion of financial inclusion.
He added that these challenges facing the banking sector reaffirm the prominent role played by the Union of Arab Banks, international organizations and Arab banks in coordinating positions and confronting threats together, pointing out that our meeting represents an opportunity for cooperation and agreeing on a road map for the future, as the targeting of the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of regional unrest.
Al-Hanalal pointed out that the Association of Private Banks is working with the Iraqi government, the Central Bank and some local and international institutions, to save the banking sector, and the return of banks deprived of dealing in dollars to their activity, but this is not enough, but it requires continuing to cooperate with the Arab and foreign banking sector, because the stage of integrating the Iraqi banking sector with its Arab counterpart must begin quickly, and we are taking great steps in this direction, especially that His Excellency Prime Minister Engineer Mohammed Shia Al-Sudani held dialogues in Washington with the US President and other officials in the government, who announced in a joint statement the possibility of returning a group of Iraqi banks to deal in dollars and supporting the private banking sector.
Al-Hannal valued the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Bank and the American Treasury to expand the integration of the Iraqi banking sector with the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual increase in its value.
He pointed out that Iraq is witnessing a great development in the transition to e-government and the adoption of electronic payment, and this leads to the growth of the digital economy, especially since there is a trend inside the country to increase the number of electronic banks, to keep pace with technological development and increase performance.
Welcome, everybody to the big call tonight, it is Thursday, April 25th and you're listening to the big call and I'm excited to be here. I'm really excited about the information that I plan to bring in my segment. And I'm also excited about what Sue is bringing tonight - let's get right to that. And I'm not quite sure what Bob's going to talk about but I know it's going to be good. And I know it's going to be edifying to us, and it's going to help us and that's what matters the most. So let's do this. Let's open the call like we have every call the last 13 years. Let's pray the call in
Okay, let's see if we can get some intel out to everybody Bob, thank you.
Alright guys, here's where we are. you remember, on Tuesday night, I said they're going to try to get this done by the end of the week, which is sort of what they're doing. We didn’t get anything today - I knew that would happen this morning – we would not get it today -
Well, let's say what we do have – people are interested in always in what's going on in Iraq - and Iraq I heard from one of our Iraqi sources today - actually through a bond paymaster - and this came in and he said that starting Saturday, Iraq – he mentioned Kurdistan -- Well, Kurdistan is the northernmost province in Iraq. Okay, kind of where the action is - where most of the oil exploration Is there – and everything - he said Kurdistan will have an all new currency on Saturday.
Well, it's not really just Kurdistan - It's not just Kurdistan - it's all of Iraq. And it is the new Iraqi dinar. We called it NID years ago, new Iraqi dinar and it's going to have an all new rate Saturday.
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Now, I don't know if they're gonna put their rate internationally on Saturday. They might. They might put it in the Gazette with a budget or they might defer to Sunday - put out international rate - and maybe they put out the budget which has the rate in it On Sunday. I don't care which day they put it out.
But they should put it out where it is visible. And that's good –
So what else is going on? Iraq is going to enter the World Trade Organization, the WTO on May 8th - They have qualified to become a full fledge member of the WTO on May 8th
All right, what else? The main information is – our understanding was they need to get us started before Iraq has their budget In the Gazette or if they are not going to put in Gazzette - before coming out on Sunday.
So that was pushing everything towards the end of this week. And that's what I kinda mentioned I think on Tuesday. But here's the good news -- we heard this morning from the redemption center, staff leader – at one of the redemption centers -- here in the US - that we are – let’s rephrases - they - the staff is going in tomorrow - which is Friday.
Three staff members sensibly going into the redemption center to be there - for the toll free numbers to come out - so they can set the appointments - Starting setting of appointments that would begin on Saturday.
We have the full fledged team at redemption centers going in on Saturday - and multiple shifts - so they could begin to do exchanges and redemption of Zim on Saturday.
So – nothing today –Thursday should have numbers coming out Tomorrow, I do not know when - I don't have a time. - don't know when they're going to do it –
They should be sending out those emails through the Wells Fargo servers tomorrow, and then we should receive those -- call the regional call centers that we have and set our appointments for Saturday.
That's the latest I’ve gotten - It stayed current all through the day today with no change. I was always happy about that. You know what I said earlier I said you know all we need is for the intel that I have to be right one time especially on something like numbers coming out and setting appointments and exchanges right. That's really what we've been looking forward to for forever.
Now, the other thing is for our Canadian listeners, They will also get an 800 number, and it may be the same 800 number the rest of us have in the United States -
And if it is great, they may take a number and use the regional call centers in Canada to run that same number through. I don't know that detail. I couldn't get confirmation on that. but evidently, this will be an 800 number for Canadian investors - let's call it - zim holders, currency holders.
So we'll see what happens on that.
The rest of the world you know, for fun, you realize HSBC is pretty much the lead bank internationally. - including Canada. – and in the US it's Wells Fargo, In Latin America, and I'm gonna call that as Mexico – down in Tierra del Fuego. I believe your lead bank is Banco Santander, Banco Santander Santander Bank.
They are in tier one bank. and of course that bank is out of Spain - and they have branches in Latin America. and I believe they are your they and HSBC, wherever those occur. are the go to banks for Latin America.
And, guys, I can only tell you that this is looking very good for us. I have to give you a caveat. As always, the information we get is subject to change, and so far – so good. Haven’t heard anything today to take us off of this latest information that I'm giving you -
By the way there is no issue with Iraq and Iran? That's false. Everything is cool. with the so called nuclear situation that Iran has not an issue. that was a make That was a make believe thing.
Everything is moving along pretty well. Overall, I think globally, I can't tell you that everything is absolutely hunky dory and ready to go as far as GSR GESARA is concerned.
I know that we can look forward to an announcement coming out of Africa by Charlie Ward - Any day now. And I think our US N currency our new dollar - USN - US note or new dollar -I think will be out next week. I don't know when it's not a big deal, it'll happen when it happens.
But we are looking very good right now.
I feel like this is really a good place. I believe we're going to be good to go. We will see what actually happens. We'll actually see how this thing manifests to us.
I'm hoping that this is our last big call going out. We will do some additional podcasts from time to time that we will record and put on an on a link, and included in an email. That's how we'll get in touch with you guys - it will be by the emails
The activities of the Economic Forum for Financial, Industrial and Commercial Partnerships between Iraq, Jordan and the region, organized by the Iraqi Business Council in Amman, will start on May 5, amid great official interest and wide participation from the public and private sectors in the two countries and countries of the region.
According to a statement by the Council, the work of the forum organized by the Council in cooperation with the Jordan and Amman Industry Chambers participates, and ministers of industry and electricity from Iraq, along with ministers from Jordan, business owners, investors and Arab and foreign companies, will open at the King Hussein Convention Center in the Dead Sea region.
The Forum is also attended by the National Investment Commission in Iraq, the Arab Businessmen Union, the International Investment Guarantee Agency and the International Finance Corporation of the World Bank Group, the Information and Communication Technology Companies Association (INTAJ), the Association of Iraqi Private Banks, the Jordanian Banks Association, the Jordanian Economic Enterprise Development Corporation (JEDCO), and the Jordanian Free and Development Zones.
The Council organizes the two-day forum, which is interspersed with a corporate exhibition, and bilateral meetings with decision-makers from the two countries, on the occasion of the Kingdom’s celebrations of the Silver Jubilee to receive His Majesty King Abdullah II his constitutional powers.
The forum’s working sessions revolve around the most prominent investment opportunities in Jordan and Iraq, the prospects of trade and industrial opportunities in the two countries, the vision of economic modernization, investment in Iraq, investment opportunities in the region, in addition to investment opportunities in the Jordanian free and development zones.
The sessions also revolve around the role of the banking sector in providing financial facilities to the sectors of industry, energy, mining, transport and infrastructure, the role of international institutions in providing financial financing for investment projects, and presenting success stories to Jordanian and Iraqi investment companies.
The forum seeks to promote regional integration by building economic interdependence, promoting cooperation in various sectors, building long-term partnerships, creating sustainable partnerships, deepening mutual understanding between participating countries, and building a common vision for the future of economic prosperity and development in the region.
You remember Tuesday Bruce said they would try to get this done by the end of the week – and that is kind of what they were doing. What do we have - - Iraq I heard from a source through a bond paymaster, he said starting Saturday - Kurdistan a province in Northern Iraq will have a whole new currency as of Saturday and it will have an all new rate now I don’t know if it might be International Saturday or Sunday – but it should be visible.
Iraq is going to enter the WTO on May 8th, 2024.
What else - the main information our understanding was they needed to get us started before Iraq has that budget in the Gazette or Sunday - but here is the good news we heard this morning from RC staff leader here in the US –
that they the staff are going in tomorrow with three staff members to be there for the Toll Free numbers to come out and set the appointments that would begin Saturday – the full fledged teams going in Saturday so they could do exchanges and Redemption of Zim on Saturday –
so numbers tomorrow - but I don’t know what time but WF servers should be sent out tomorrow and set our appointments for Saturday and it’s stay current today and with NO CHANGE - and this only needs to be right ONE TIME. Now the other thing is for our Canadian Listeners they will get an 800 number and it may be the same as ours -
there will be an 800 number for them and the rest of the world HSBC is the Lead Bank Internationally including Canada and Latin America is Banco Santander a Tier one bank out of Spain and they are in Latin America and they with HSBC are the banks to look for. Guys I can only tell you this is looking very good for us – as always the information we get I’ve not heard of any changes YET – Iraq and Iran not an issue with nuclear issue and everything is moving along pretty good globally – not sure if everything is going well with Gesara – but we expect CW to have an announcement – but we are looking good. And now Bruce is going on to talk about Sue and her new programme.
So dear ones that I’m sure is Bruce’s intel for us for today – now I’m sure he’ll be thanking the whole team - Sue and Bob and GCK and Pastor Scott and Jeannie and Larry. And ALL the Faithful listeners from around the world. Also for sure praying out the call. So please join with Bruce in that prayer, and as always keep praying and let’s pray pray pray with heartfelt intent - but of course we will actually see now if this does manifest for us THIS TIME - so with prayer and gratefulness for this Truly Heavenly Blessing we are NOW VERY SOON TO RECEIVE. Also as Always – My Love ALWAYS to ALL OF YOU Gem,