"Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments."
National Bank of Iraq and Temenos have partnered together to transition the Iraqi Banks from Legacy Systems to a Unified Core Banking and Payments Platform.
Core Banking is the back-end processing of transactions including deposits, loans, and credit processing.
This integration will streamline operations and accelerate product development for customers across the Capital Bank Group. The Capital Bank Group globally connects Iraqi banking systems.
Temenos digital products are adaptable and scalable that will allow them to work inside an Open Banking System. This new upgrade will allow Iraq to trade with Global Financial Institutions around the world.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good evening all. Mark-did bond payments stop or are we in a holding pattern right now?
MZ: I don’t think bond payments have stopped and that we are in a holding pattern. My guess is that I only know so many in certain areas and there is a better chance it’s still going and I just don’t know any the last couple days with appointments.
MZ: If I hear differently I will tell you guys.
Member: Quiet might be the best news so they all can start
Member: I wonder -Have enough bond folks gone yet that we can hope for rv this weekend?
Member: we can always hope….
MZ: There is some anticipation from one of my redemption center contacts who is expecting to work this weekend….I take that as positive. Other than that it’s been very quiet today except for the normal chatter out of Reno who thinks this is the weekend….But I hear that almost every weekend from someone in the Reno crew.
Member: Fridays are holy days in Iraq and the middle east. Usually quiet there.
Member: Banks appear to be in big trouble
MZ: This is just breaking this evening: “Regulators set to seize troubled Philadelphia bank-Republic First” There has been a record breaking outflow of deposits over the last couple of days. . They could have been paying taxes or worried about another bank failure….But, they want you to know they don’t think this will spread to other banks….and to keep calm.
Member: Another one bites the dust. Bank of Philadelphia took a hit today too.
Member: MM mentioned on his video last night how important the Ripple XRP infrastructure is for what we are doing
MZ: Another bit of news breaking at the end of business today: “ The Yen collapse has become disorderly-Look for a final sharp decline before it hits the floor” Bottom line- the Yen is collapsing. Remember how this works. Europe is heavily invested in Asia. When Asia fails – then Europe fails….then the US fails. You are watching this implosion live. Like the fall of Rome- on the internet.
Member: Guess we Forget about April and start hoping for May.
Member: May 9th is supposed to be a big day. Allegedly Iraq ascends to a full member of the WTO then…..so the rumors say.
Member: Maybe we still have a chance in April…..Maybe this weekend is going to be Great after all!!!!!
Mod: IMO! ALOT IS GOING ON BEHIND SCEENS!
Member: Mr. Pool seems to think Something is going down tonight and this weekend?
Member: Come on RV Don't be like molasses on a cold day in Antarctica.
Member: Have a good weekend to everyone.
Member: Thank all of the MODS for all of your time and talents you share with this community. God Bless You All. You are such a blessing to Mark.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
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I’m aware of the Plan, but cautioned against exposure, but now that it’s leaking…#PatriotRodSteel
TEXAS SNAKE
Okie had some positive news earlier today, thought we would hear some indication of the new rate when the Premier returned to his country from his visit to the US, the banker is assisting his hospitalized wife in CA so very little news from him so I guess we wait for FOREX to open, but again sports fans we appear to be very close, so say your prayers tonight.
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Texas Snake, [04/22/2024, 10:25:30 p. m.]:
About 10 more minutes then I need to close
Will try to illistrate that tomorrow
Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV
Well folks will come back with anything new GOD Bless
ECONOMIST: TRAVELERS’ DOLLARS ARE LEAKING INTO THE PARALLEL MARKET…AND THIS IS WHAT THE CENTRAL BANK SHOULD DO
The economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.
Qusay said {to Al-Furat News} that: “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.”
He added, “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.”
Qusay stressed, “This measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.”
He stated that “the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows,” noting that “the Central Bank’s emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it.”
Qusay added, “The Central Bank’s official sales during the previous 10 days rose to $270 million per day, which is an indication of the activation of the electronic platform,” adding, “The more we reduce imports and analyze the irregular demand for the dollar, the more stable the dollar’s exchange rate will be.”
Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.
Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.” Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.”
FRANK26: THE ONLY REASON THEY ASK THE QUESTION IS BECAUSE THEY KNOW THE ANSWER!!!".......F26
Will the agreements signed with the US Treasury reflect positively on the exchange rates?
4/25/2024
Baghdad
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."
