FIREFLY: Some so called expert is on television right now, he's on our news Channel One warning Iraq about floating the dinar. He's saying to us it's not a good idea and it could lead to a collapse of our currency and it could be a massive inflation. This is all from someone against Iraq dinar.
FRANK: They're not stupid...These tactics...doesn't work anymore.
[Iraq boots-on-the-ground report]
FIREFLY: They were doing audits with the banks here. We were just told there's one with $600 million scam that is going on with travelers and the American dollar. There is no end to corruption in our country but we know Sudani is doing his very best to protect us especially with a new exchange rate that will be coming.
WALKINGSTICK: ...Iranian politicians are till trying to do what they've been doing but they're doing it through other means but they're not succeeding like they used to.
[via WiserNow] I heard from one of our Iraqi sources today...and he said that starting Saturday, Iraq...will have an all new currency on Saturday...new Iraqi dinar and it's going to have an all new rate Saturday...Now, I don't know if they're gonna put their rate internationally on Saturday. They might...
I can only tell you that this is looking very good for us.
...Two separate sources is saying that everything should be released to us and have a climactic conclusion by end of this week... does this happen...Thursday? Friday? Saturday? We don’t know...They didn't give that specific day... we're getting this from two separate redemption centers...
The Association of Private Banks appreciates the efforts of the government and the Central Bank to create understandings with the Treasury, the Federal Bank, and international banks
4/26/2024
The head of the Iraqi Private Banks Association, Wadih Al-Handal, participated in the Arab Economic Security Forum, which was organized by the Union of Arab Banks in Beirut.
Al-Handal said in his speech, “The forum is being held in complex circumstances and geopolitical changes taking place in the region, and the Arab banking sector has begun to be affected, starting with the State of Iraq,” adding that Iraq is still facing major challenges, at various economic levels, including the deprivation of the Iraqi private banking sector.
From the use of the dollar, which exceeded half the number of banks operating inside the country, which is a very dangerous indicator, despite the efforts 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 has begun to affect banking services inside the country, It undermines citizen confidence 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 dangers together, noting that our meeting is taking place. "It represents an opportunity for cooperation and agreement on a work roadmap for the future, as targeting the Iraqi banking sector will not stop within its borders, and may expand at any moment to other countries in light of the regional turmoil."
Al-Handal 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 return banks deprived of dealing in dollars to their activities, but this is not enough, but rather requires continuing cooperation with the Arab and foreign banking sector, because the stage of merging... The Iraqi banking sector with its Arab counterpart must begin quickly, and we are taking great strides in this direction, especially since Prime Minister Muhammad Shia al-Sudani held dialogues in Washington with the American President and other government officials, who announced in a joint statement the possibility of a group of Iraqi banks returning to dealing. in dollars and support the private banking sector.”
Al-Handal appreciated the efforts of the Iraqi government and the Central Bank of Iraq to create deeper understandings with international banks, the Federal Reserve, and the US Treasury to expand the integration of the Iraqi banking sector into the global financial system, in addition to supporting the Iraqi dinar, which led to a gradual rise in its value.
He pointed out that Iraq is witnessing great development in the transition to electronic government and the adoption of electronic payment, and this is what leads to the growth of the digital economy, especially since there is a trend within the country to increase the number of electronic banks, to keep pace with technological development and increase performance.LINK
I don’t want to fill you minds with false hope or over speculate but...we can clearly now see something BIG is about to happen...our choo choo train is speeding down the track. The destination is the reinstatement but remember to reach it, the train must first make a couple stops along the way.
Many of these stops already occurred as we get closer and closer to our destination. We can almost see the finish line...
The reinstatement is coming, it won’t be years anymore and I firmly believe from what we already know and what we are now witnessing, the writing is on the wall, but just not yet.Do you hold large sums of Iraqi dinar? Are they the larger three zero notes issued after 2003? If so, you just might be a millionaire sooner than later. In the month of April, Iraqi reforms has made monumental leaps and bounds even since 2023. Folks, it’s about to EXPLODE! It is now openly evident...It would be foolish to turn back now. Full speed ahead, choo-choo.
European Bank Backs Iraqi Business: Boost for Industrial and Agricultural Ventures
Baghdad witnessed a crucial meeting on Thursday, focusing on enhancing the Iraqi economy through significant support from the European Bank for Reconstruction and Development (EBRD). Abdul Razzaq Al-Zuhairi, the President of the Federation of Iraqi Chambers of Commerce, hosted a delegation led by Hayka, the Executive Director of the EBRD's Middle East Region, and Thomas Seiler, the European Union Ambassador, among other notable attendees. The discussion centered on various strategies to bolster Iraq's economic sectors, with a keen interest in industrial and agricultural projects.
Strategic Discussions for Economic Growth
The engagement between Iraqi economic leaders and the EBRD delegation is a pivotal step towards revitalizing Iraq's core sectors. With an emphasis on industrial and agricultural development, the meeting explored avenues for financial support and collaboration that could spearhead the growth of the Iraqi economy. The presence of key figures such as Hayka and Ambassador Thomas Seiler underscores the European Union's commitment to fostering economic stability and growth in Iraq.
Empowering Iraqi Businessmen
The discussions highlighted the EBRD's readiness to extend crucial financial support to Iraqi businessmen. This initiative is aimed at financing projects that are vital for the local economy's sustainability and growth. By focusing on sectors deemed as priorities, the support from the European Bank is anticipated to catalyze significant advancements in Iraq's business landscape, offering a fresh impetus for economic development.
Future Implications and Economic Prospects
The collaboration between the Federation of Iraqi Chambers of Commerce and the EBRD marks a significant milestone in Iraq's economic recovery efforts. With the European Bank's support, Iraq stands on the cusp of a new era of industrial and agricultural prosperity. This partnership not only promises to enhance the local economy but also paves the way for further international cooperation and investment in Iraq, potentially setting a precedent for economic resilience and sustainability.