The head of the Al-Hikma Movement, Ammar Al-Hakim, confirmed today, Sunday, that the world has begun to change in its dealings with the Iraqi issue.
Al-Hakim said in a statement received by (Al-Rabaa) that, “With the end of its mission in Baghdad approaching, we received Jeanine Plasschaert, the representative of the Secretary-General of the United Nations in Iraq,” praising “the efforts of the United Nations organization in the past stage, and indicating that the current state of stability that the country is witnessing must be invested in a way that enhances The interests of Iraq and the interests of its partners in the region.”
Al-Hakim explained that “the world has begun to change in its dealings with the Iraqi issue,” pointing out that “the previous reading was disturbing stability in the region, while the current reading is that the security of the region is the security of Iraq,” calling for “reading history and standing at its decisive points.” .
There was interesting money movement over the weekend according to my best group contacts. It is clearly positioned to go...
Article: “Kuwaiti Dinar to US Dollar-Top 10 highest valued currencies in the world in 2024”
This article was in the Indian Express.
And the Iraqi dinar used to have that number one spot. Comment: I would expect Iraq to be worth more that Kuwait. MarkZ: Absolutely. And when Iraq was the most valuable currency in the world they had not yet developed their natural gas reserves…and were not pumping nearly as much oil as they are now. Every part of Iraq is now in better shape than when they had the most valuable currency in the world.
“National bank of Iraq uses Temenos for core banking and payments”
They have put into effect a well used banking AP from around the world. And they have gone digital at a record pace in their banking system. We were told this was necessary so they could pull the trigger - BAM. They want us to know they have updated their banking system. This is important to the process and here we see that it is done!
Today, Monday, the President of the Association of Iraqi Private Banks, Wadih Al-Handal, sent an invitation to the Central Bank of Iraq regarding the Iraqi banking sector, while addressing the deprivation of Iraqi banks from dealing in dollars.
Al-Handal said in his speech at the conference, “The challenges facing Iraqi banks in complying with international laws and legislation and meeting the requirements of correspondent banks,” followed by “Al-Iqtisad News,” “Our vision and work revolve around building a strong Iraqi banking sector, capable of facing challenges and contributing more to financing various projects.” Its types, supporting the Iraqi economy, developing local and international partnerships, and promoting the concepts of financial inclusion in society.”
He added, “The Arab region is witnessing great challenges at all levels, including economic challenges and banking challenges in particular, including what happened in Iraq in terms of deprivation of dealing in the main international currency (the dollar), which is approximately half of the number of Iraqi banks, and which has had a significant and clear impact on banking services.” inside Iraq).
The Director of the Association of Iraqi Private Banks explained: “I praise the efforts of the Iraqi government and the Central Bank of Iraq in resolving these problems with the American side, especially what resulted from the visit of Prime Minister Muhammad Shia Al-Sudani to Washington, and his meeting with a number of American figures.”
The outcomes that were determined include appointing a review committee and developing a road map for solutions.”
Al-Handal stated, “The Iraqi Private Banks Association is fully prepared to cooperate and support the plans of the government and the Central Bank of Iraq and contribute to improving the banking environment and developing the banking infrastructure in accordance with the best international practices.”
He called on the Iraqi government and the Central Bank to “work to strengthen the private banking sector, by supporting private banks in general and disadvantaged banks in particular to ensure the continuation of their work and open the horizons of banking work more broadly, whether inside Iraq or to help build strong relationships with international financial institutions.”
The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right.
These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ...
The float is to build confidence in the country and in the currency of Iraq.
[Former Iraqi Bank associate and Iraqi bank owner #1 update]
He just left Bagdad...he went to Hong Kong. What for? He's got banks he's representing the CBI with, out there. These satellite banks are everywhere. They want their 3-zeros back. They don't want them to go into anybody's federal reserves.
Under the patronage of Prime Minister Muhammad Shiaa al-Sudani, today, Monday, a signing ceremony of a memorandum of cooperation took place between the Trade Bank of Iraq (TBI) and the Japan International Cooperation Corporation (JICA), in the presence of the Deputy Prime Minister, Minister of Planning Muhammad Tamim, and the technical advisor to the Prime Minister. Muhammad Sahib Al Darraji, Chairman of the Diwani Order Committee for Sovereign Guarantees.
The Prime Minister’s media office stated, in a statement, a copy of which {Al-Furat News} received, that: “The memorandum of cooperation comes within the framework of the government’s initiative to grant sovereign guarantees to the private sector, and also within the work of the special committee for sovereign guarantees covered by the General Budget Law for the year 2023, and Cabinet Resolution No. (23404) for the year 2023.”
He added, “The memorandum includes the Japanese Foundation financing projects for the Iraqi private sector, to establish factories inside Iraq, with the aim of localizing the national industry in the field of pharmaceutical, construction, chemical, petrochemical, energy, agricultural and food industries; in implementation of what was included in the government program, in supporting and localizing strategic industries.” And based on the directives of the Prime Minister in this regard.”
The statement added, “In light of the memorandum, an initial amount of $200 million will be provided to finance important projects that provide a service to the Iraqi citizen and economy, and which will contribute to reducing foreign imports, as well as reducing hard currency transfers abroad.”
The memorandum also aims to raise the efficiency of Iraqi companies to the global level, through openness to international banks for financing, and controlling quality by concluding agreements with major industrial countries.”