"YES!!!... YES!!!... YES!!!... THE MONETARY REFORM SUCCESS STARTED WITH THE CBI & COMES TO THE GOI OF SUDANI!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26: "YES!!!... YES!!!... YES!!!... THE MONETARY REFORM SUCCESS STARTED WITH THE CBI & COMES TO THE GOI OF SUDANI!!!"...........F26

The reform process will begin with the government banking sector, which represents 85% - Sudanese Advisor

5/15/2024

Baghdad –

Mazhar Saleh, advisor to the Prime Minister for Financial Affairs, said today, Wednesday, that the government banking sector represents 85% of banking work in Iraq, and there is a reform process that will begin from it, indicating that the sanctions that affected the banks are an opportunity for reform.

Saleh confirmed in a statement to the official agency, followed by the 964 Network , that “Prime Minister Muhammad Shiaa Al-Sudani is keen to protect national capital, in addition to the fact that banking institutions need reform,” indicating that “what happened in depriving some banks of foreign currency is an opportunity to restore Structuring and organizing it.”

He added, “There is a program to reform the banking sector by starting with the government sector because the government banking sector dominates 85 percent of banking work and the rest of the small emerging markets, although their capital constitutes 78 percent of the banking system’s capital, but they need to be reorganized and restructured to transform into Correct market institutions integrate with the global economic system and have a role in finance and economic development.”

He pointed out that “there is a reform process in Iraq that begins with the government banking sector and then the private sector,” pointing out that “the injustice that happened to the banks is an opportunity for reform.”

LINK

"RV UPDATE" BY FRANK26, 17 MAY

 Frank26 

 Community Comment:  "I Remember you stated a long time ago that the float will be quick." 

 Yeah, IMO the hunger for the Iraqi dinar is great and the investors are almost endless.  I believe when it floats it'll be like getting gunpowder on fire.  It'll move fast...Within 3 months you're going to see a significant change.  Within 6 months it may be done.  I hope that within a year they'll cap it...IMO $3.86 to $4.25.

   The CBI desperately wants these three zero notes back...If you exchange your dinars at an American  bank those dinars go to our federal reserves and boy we will capitalize on it because it'll be a different rate but if we go to a  private [Iraqi] bank those dinars go to the CBI. That's what the CBI wants so badly.  Wait till you find out how many banks they  got!  They're smart.  They're covering all their bases.

"CBI ANNOUNCED THE HIGH DENOMINATION NOTES WITH NEW EXCHANGE RATE"/iraqi...

"SUDANI'S GOV REVIEWS THE BUDGET, NOT PARLIAMENT HA HA HA!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26: "SUDANI'S GOV REVIEWS THE BUDGET, NOT PARLIAMENT HA HA HA!!!"...........F26

A government meeting to review the 2024 budget schedules

5/15/2024

Baghdad
 

Today, Wednesday, the Minister of Planning, Muhammad Ali Tamim, chaired a ministerial meeting to review the schedules of the federal general budget for the year 2024.

A statement from the ministry received by “Al-Iqtisad News” stated, “Today, the Minister of Planning, Muhammad Ali Tamim, chaired a meeting of the committee concerned with reviewing the schedules of the federal general budget for the year 2024, in the presence of the Minister of Oil, Hayan Abdul-Ghani, the Minister of Construction, Housing, and Municipalities, Benkin Rikani, the Minister of Electricity, Ziad Ali Fadel, and the Prime Minister.” The Office of Financial Supervision, Ammar Sobhi, the Prime Minister’s advisors for legal, economic and strategic affairs, the head of the legal department in the General Secretariat of the Council of Ministers, and also a delegation from the Kurdistan Regional Government, which included the Minister of Finance, the head of the Office of the Regional Council, the Secretariat of the Council of Ministers and the head of the Coordination and Follow-up Department.” .

He added, "During the meeting, a number of files were discussed on the agenda, including a discussion of the transfer mechanism for the Kurdistan Regional Government's allocations within the budget tables, especially with regard to employee compensation, social care, and regional government revenues, and the mechanism for handing them over to the federal government according to what was stated in the Federal Court's decision and the law." Financial management, and the state’s general budget law.” 

He continued, "The meeting also discussed the discussion of maximizing revenues to reduce the percentage of the deficit contained in the general budget by creating legal texts to include electricity sales and local oil sales as revenues in the budget tables."

LINK

"RV UPDATE" BY BRUCE, 17 MAY

 Bruce  

 [via PDK]  ...we know we're super close... Most banks...have been fully trained all the way down to the teller level about currencies.  And now it's a matter of throwing the switch and getting us toll free numbers and setting our appointments...I think we're very close to ...going...

Somebody put something out about taxation, or this this would be a taxable situation for us  - it is not a taxable event...It's BS don't buy it - not a taxable event period.

 We're looking for 3 green lights – military -  Treasury – and Wells Fargo  in that 0rder...They got the green light from the military...we did receive confirmation that we have the Treasury's green light in the last couple of days...we did get the green light from Wells Fargo yesterday...

So in other words, we have all three green lights now covered - military  - Treasury - Wells Fargo.  The banks are bringing all employees in the banks up to speed on what we're about to witness and it's called Currency Training  Protocols  - They have been teaching to get everybody down to the teller level. Which remember the tellers didn’t  know anything about this...the point is, it's really coming down to the wire.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-bruce-12-may.html

"AL-SUDANI FISCAL STRATEGY TO ANNOUNCED THE NEW RATE OF DINAR CURRENCY A...

"YOU AIN'T STUDYING NOTHING... LET'S ROLL!!!" BY FRANK26, 17 MAY

 KTFA

FRANK26:"YOU AIN'T STUDYING NOTHING... LET'S ROLL!!!"....F26

Securities: We are studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges

 

5/15/2024

Baghdad
 

Chairman of the Securities Commission, Faisal Al-Haims, confirmed today, Wednesday, that the authority is studying the possibility of  licensing brokerage companies to trade in shares on international stock exchanges.

Al-Haims said in a statement received by Al-Iqtisad News, “The Authority has begun studying the licensing of brokerage companies to trade in shares on global stock exchanges through a technical committee within it.”

 

He added, "The Authority is working seriously to support and develop the stock market by studying the licensing of brokerage companies to enable them to trade in shares on international stock exchanges for the first time in Iraq."

 

He explained, "This step comes in the context of protecting the rights of citizens to trade through brokerage companies that practice this activity without an official license from the Securities Commission, which seeks to develop the financial markets in the country," noting that "the Commission is working to provide a stimulating and regulated investment environment." “It contributes to enhancing confidence among investors and raising Iraq’s position in global financial markets.”
 

LINK