"ALOT FROM ALAQ" BY FRANK26, 27 APRIL

 KTFA

FRANK26:"ALOT FROM ALAQ".............F26

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.

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"IMPORTANT IRAQ NEWS:WILL THE AGREEMENTS SIGNED WITH THE US TREASURY REFLECT POSITIVELY ON THE EXCHANGE RATES?" BY MNT GOAT, 27 APRIL

WILL THE AGREEMENTS SIGNED WITH THE US TREASURY REFLECT POSITIVELY ON THE EXCHANGE RATES?

Today, Thursday, economic expert Abdul Rahman Al-Mashhadani stated the possibility of Iraqi getting a green light to contract with Iranian companies that are not sanctioned by the United States, while anticipating the impact of the Central Bank’s agreement with the US Treasury on exchange rates.

Al-Mashhadani said, in an interview with Al-Iqtisad News, “The visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to America is very positive, but so far the results of what was agreed upon in Washington have not appeared.”

He added: “It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,” pointing out that “the real problem of exchange rates has not yet been solved,  which is dealing in trade with banned countries.”

The economic expert explained, “The economic aspect was the main focus of Sudanese’s visit to Washington, and it became clear through the meetings and discussions held by the Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran, in addition to the required investments, which “It is possible to sign in the energy field.”

He stressed, “Iraq got the other light by contracting with unsanctioned Iranian companies, which allowed the Ministry of Electricity to sign a contract to recover Iranian gas for a period of five years, at a time when the government is heading to end this file after 3 years, according to what was announced.”

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

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More recent very good news….PART2, BY MNT GOAT, 27 APRIL

  More recent very good news….PART2, BY MNT GOAT, 27 APRIL

Also, in today’s news the European Union Ambassador to Iraq, Thomas Seiler, welcomed the Iraqi government’s signing of the Singapore Mediation Agreement. This is considered a milestone for resolving commercial disputes trade, and I am pleased that the technical support provided by the European Union to anti-corruption and international arbitration efforts has been important and effective. Why are they signing this agreement? It is because they are lining up for some massive trade with the EU and the EU will want this mediation agreement.

 Folks this is all tied too  what is coming next and its massive business for Iraq thus massive revenues. Iraq alone is ripe with new customers, never mind the rest of the middle east. Folks, it may seem hard to believe now that peace and prosperity will come to all of the middle east and that time is not far off. Remember president Trumps mantra – Peace through Prosperity not War. But first we must overcome these entities bent on constant war and them lying to us and justifying it with “humanitarian” sympathies. Folks, just so you know these are the same wicked people who orchestrate and start these wars, and then later want you to support them for “humanitarian reasons”. It is all a game. Trump wants to end this game and use these national treasured to grow and prosper our sovereign nations.  

So , as intelligent investors we must stop looking at the WTO as just another target, thinking that Iraq needs a rate to join and so…… Instead why don’t you educate yourself and pay attention the entire stream of activity interconnected with trade with Iraq and then why the WTO membership then becomes so important for them. Then how it will drive the currency reform as a “byproduct” and not the other way around. Get it? Does this make any sense to you now? 

What else is in the current news….

Qusay said {to Al-Furat News} told us and I quote – “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.” Then it goes on to add “It is assumed that travelers are dealt with through tourism and airline companies, and the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from the exchange outlets or banks.”

Folks, if you care to remember, I told you a year ago that the only way to solve this dollar crisis with travelers selling their dollars to the black market at an increased rate (called racketeering) is to put the money on a debit card. These cards can only be used to get cash out of them at the “official CBI rate”. Why won’t they do this? It has also been mentioned by many economic scholars too inside Iraq. Is some corruption going on here that needs to be addressed?

I don’t want to fill you minds with false hope or over speculate but come’on folks…. we can clearly now see something BIG is about to happen to these currencies. I would compare this to our choo choo train 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. Another one of these stops is the Washington DC trip. The next stop is the in-country rate if all goes well that we should expect shortly after Al-Sudani’s return from Washinton DC. We then know the rest of the process and what happens next…. And all the other stops 😊 We can almost see the finish line as the train is about to come around the bend. Please, please no more derailments!

We must now buckle down and pray and pray like never before for the success of Al-Sudani and his trip to Washington. Pray for the U.S. in that there are strong enough representatives in Congress and the Senate who will stand up and continue to fight to uphold the US Constitution and keep fighting this Washington corruption. Pray that that God’s Hand will intervene and save our great country.

Their words not mine…..No Rumors, No Hype, No Opinions ,,,,,

                                             Just the FACTS!

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

More recent very good news….PART1, BY MNT GOAT, 27 APRIL

 More recent very good news….

The Minister of Commerce and Chairman of the National Committee concerned with Iraq’s accession to the World Trade Organization, Atheer Daoud Salman Al-Ghurairi and I quote from the article – “announced the completion of the files for the initial offer of goods and services within the files for joining the organization”. No, they did not yet announce Iraq’s full accession to the WTO but his is certainly getting close.

Then the article goes on to say ““ this important step comes in the context of the Iraqi government’s efforts and its program aimed at promoting international trade and achieving sustainable development, which reflects its commitment to ensuring global economic integration and expanding economic partnerships.”

After reading this about the WTO accession step just completed, can you see how this is also integrated with the news in the first article we reviewed? It is all about the mulla $$$ and the money making potential for trade but most importantly for us investors is the ability for Iraq to openly trade and use foreign currencies freely, including the currencies of their trading partners.

So for Iraq’s accession process it appears yet another huge step is about to take place. I quote from the today’s article – “The National Committee, the technical committees emanating from it, and the accession team in the ministry were able, within a short period, to complete these files and submit them to the organization in preparation for holding the third meeting of the working group on Iraq during the current year, 16 years after the date of the second meeting of the group in 2008.”

So, in 2024, I assume sometime soon, the National Committee will hold its third meeting with Iraq on the accession review. Remember also that the Sadie Arabia is sponsoring Iraq for the WTO and we recently also learned the US is now onboard too. With the US now backing Iraq this should move along quickly now. So does Iraq need a viable currency to trade? Of course they do and they already have it with the 3 zero notes. There is no requirement stated anywhere that they need anything else. However, having said this let me add I sincerely do not believe for one second that they are going to join the WTO with these notes as their currency. First, they will have to be reinstated on FOREX just before or after their full accession. Why?

Iraq will need a global currency for global trade. WTO is global trade organization and partnership. It has a process We are not just talking about just middle eastern trading partners anymore when we refer to the WTO. We are now talking BIG TIME, about massive trade, manufacturing plants and warehouses with Iraq from the US, China and the EU. Why do you think they are building the rail line from the shipping ports and inward into Saudi and Turkey? Why do you think they are now pushing the Strategic Framework Agreement so much with the US? Why is Iraq taking on the “Silk Road Project”. Oh… call it what you want but it’s the same. The WTO will enhance Iraq’s integration into the multilateral global trading system.”.....

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

"STATUS OF THE RV" BY MNT GOAT, 27 APRIL

STATUS OF THE RV

WOW! Do you believe it we are nearing the end of April soon. Colleges are preparing for final exams already and soon students will enter the summer job market for work.  We are now ramping up for the main season of our guest Haus. What will this summer bring us? We are hoping for more tourism in the southern Bavaria area than we have seen since Covid hit. We wait to see.

What will the month of May bring us investors in the Iraq dinar?

Al-Iqtisad News just told us and I quote from the article – “The visit of the Prime Minister, Muhammad Shiaa Al-Sudani, to America is very positive, but so far the results of what was agreed upon in Washington have not appeared.”

Why do we have to ask?

Then later in the article we find out a couple issues that may be holding up or may hold up, the progress of the next step in the currency reform. I quote again from the article – “It is hoped that the Central Bank of Iraq will announce the measures that were agreed upon in Washington, which could have a positive impact on the exchange rate,” pointing out that “the real problem of exchange rates has not yet been solved, which is dealing in trade with banned countries.”

Yes, the real problem has not yet been solved. What is the real problem that appears that could have a positive impact on the exchange rate? The article refers to dealing in trade with banned countries. These are sanctioned middle eastern countries mostly if not exclusively. It does make reference to Iran as I quote from the article – “discussions held by the Central Bank of Iraq, with the US Treasury regarding the sanctions imposed on Iraqi banks or even the issue of financial transfers to Iran,” it also makes reference to the energy field too. Could this be the Oil and Gas Law (or referendum) the Iraqi constitution mandates? I believe it is. I still contend that this law is required. We will see. But the good news is the Iraqi speaker of parliament has been reinstated and they told us they will not be ending this current session until certain laws are addressed.

We also know that the Iranian gas sold to Iraq is a US issue but they have granted a waiver again for five more years over the Iranian sanctions. Then we read of an article telling us that The Iraqi Ministry of Oil announced the signing of a contract with the Ukrainian company “Yukrzm Resources” to develop the gas crutch field for Iraq. It was pointed out that “the ministry aims, through the contract with the Ukrainian company, to reach an average of (100) mqmqm for the first stage of (1-2) years, and (400) maqqm within (4) years. This effort could meet or maybe finally exceed the recent 5 year sanction waiver by the US to buy gas from Iran. If you remember this gas is mainly to power the new electricity generators for the Iraqi grid, destroyed by the 2003 war. So these agreements had to get in place too.

Remember also that this step in natural gas production represents an important step towards gas investment, especially in the western region of Iraq because of the large gas reserves that this region holds. The first step is to work to invest this gas production optimally, to supplement the national networkwith new gas energy and also for future revenues that contributes to supporting the energy sector in Iraq and enhances national production. Yes, this gas production in the near future could yet another huge source of Iraqi revenues rivaling again the oil revenues. I expect to see large contracts with the EU for this gas in the coming short term....

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Iraqi Dinar | Even Bigger Announcement About New Rate Investors Get Read...