FREEDOM FIGHTER
🟢IRAQ in process applying for the license to trade securities on the global stock market
🎯Which includes FOREX
💥READ THAT AGAIN ‼️
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🎯Goldilocks is about to share some AMAZING news from Iraq and the next step they are taking towards the EVENT‼️
💥Another dot about to be connected
💥Stay grounded and stay tuned
BOOM 💥
Iraq is classified as highly committed to AML/CFT recommendations by MENAFATF
Shafaq News/ On Wednesday, the Middle East and North Africa Financial Action Task Force (MENAFATF) has classified Iraq as a country with a high commitment to the recommendations on combating money laundering and terrorist financing (AML/CFT).
The Iraqi Supreme Judicial Council's Media Center stated that this decision was made during the MENAFATF's General Assembly meeting held in the Kingdom of Bahrain from May 19 to 23, 2024.
The meeting's participants reviewed the assessors' report on Iraq and concluded that the country has taken significant steps to enhance its AML/CFT regime.
"The acceptance of the assessors' report means that Iraq will not be included on the gray list, which is a list of high-risk countries in the field of AML/CFT."
"This is a testament to the Iraqi team's success in convincing the MENAFATF General Assembly of the adequacy of the measures taken in this area."
Notably, Iraq's delegation to the MENAFATF meeting included Deputy Presidents of the Karkh Court of Appeal, Judges Ali Hussein Jafat and Diaa Jaafar, as well as Deputy President of the Rusafa Court of Appeal, Judge Ayad Mohsen. They were joined by representatives of the Anti-Money Laundering Office of the Central Bank of Iraq and representatives of other relevant Iraqi institutions.
TEXAS SNAKE
Well folks was advised we would have positive indications today but now am being told it should come on the 24th which is this coming Friday which would give the banks time to deal with their Fridays and Mondays and begin to schedule appointments later into next week. We can only hope that at some point these projections will be accurate.
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A second confirmation of the above post has been received today so please stay alert come Friday, GOD Bless y'al for staying with us thru all this.
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Texas Snake, [05/22/2024, 10:04:11 p. m.]:
Yes
I have a suggestion to make if everyone could hold off comments until I can type it out.'
Comments being made about banks on Markz and what it could mean to your deposits
My suggestion once again is for each of you to open a brokerage account with a member firm of the NYSE as they insure uo to 500k on each account you open with them and then explore the Money Market
funds with No Load funding and reposition your b ank deposits into as many MMF's as needed to remain insured.
Texas Snake, [05/22/2024, 10:27:08 p. m.]:
I am going to watch the 4th quarter of the Dal Min playoff gamd so good night and GOD Bless everyone
Iraq reiterates commitment to anti-money laundering efforts, seeks investment for Development Road
Shafaq News/ Wadih Al-Hanjal, head of the Iraqi Private Banks Association, reiterated Iraq's commitment to combating money laundering and called for international support for investments in the Development Road project during his participation at the Arab-Turkish Summit in Istanbul on Thursday
Al-Hanjal led an Iraqi delegation to the summit, which focused on discussions surrounding the Development Road, a major infrastructure project linking Turkiye to the Gulf via Iraq.
According to a statement from the association, Al-Hanjal urged for swift decisions to "change the economic face of the region."
He emphasized Iraq's policy of "economic openness to all countries," seeking to establish a robust network of economic partnerships and attract foreign investment for infrastructure development.
Al-Hanjal commended the flourishing state of bilateral relations between Iraq and Turkiye, citing a trade volume of $20 billion in the past year and strong cooperation between Iraqi and Turkish companies on strategic projects within Iraq.
He expressed optimism that the recent visit of Turkish President Recep Tayyip Erdogan to Iraq would yield positive results for the Arab region, particularly regarding the Development Road initiative.
"The Development Road project has the potential to revolutionize cargo transportation between East Asia and Europe and significantly reduce shipping duration from Faw Port to Europe by 15 days compared to existing routes," he said. "Additionally, it would lead to cost reductions in insurance and transportation fees, ultimately benefiting consumers through lower final product prices. Beyond its economic impact, the project is expected to generate over 100,000 direct jobs through the establishment of large-scale factories within Iraq."
The Development Road envisions a network of land and rail routes connecting China, India, the United Arab Emirates, Qatar, Iraq, Turkiye, and ultimately Britain. This ambitious project, estimated to cost $17 billion, has the potential to transport 15 million passengers and over 22 million tons of cargo annually, while generating an estimated return of $5 billion annually for Iraq.
Al-Hanjal called on Arab and foreign banks to participate in financing these investments, emphasizing the importance of sovereign guarantees to expedite project development and achieve regional growth. He acknowledged the successful collaboration between the Central Banks of Iraq and Turkiye in adopting the Turkish lira and the euro for financing bilateral trade.
Despite the challenges, Al-Hanjal highlighted "resilience" of the Iraqi private banking sector. He noted that some banks facing difficulties with dollar transactions continue to operate using other currencies to meet customer needs. "The sector is actively expanding its range of services, contributing to a rise in financial inclusion rates across the country."
Al-Hanjal commended the Central Bank of Iraq's successful monetary policies, which have brought inflation down from 7.5% to 3.8%. He said "Iraq's robust foreign currency reserves exceeding $111 billion and its gold holdings surpassing 145.6 tons, solidify its position as the fifth-wealthiest Arab nation in terms of reserves."
Al-Hanjal called for decisive action to "change the economic face of the region" and offer hope to populations grappling with inflation, rising prices, and foreign investor flight. He reaffirmed Iraq's commitment to combating money laundering and financing terrorism, citing its compliance with the Middle East and North Africa Financial Action Task Force (MENA FATF) standards. He also praised the Central Bank and the Iraqi judiciary for their role in maintaining Iraq's international standing in the fight against money laundering and terrorist financing.
GOLDILOCKS
" Chairman of the Securities Commission in Iraq, 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."
Forex is sold "in shares" through exchange-traded products (ETPs) and exchange-traded notes (ETNs).
Licensing brokerage companies to trade on the global exchange, also known as a foreign exchange (forex) market, is a necessary process that allows companies to operate in the market.
As long as global financial standards and International digital norms/regulations are followed, a forex license can be issued by regulatory authorities.
This procedure guarantees a company's compliance with International regulatory standards. Without a license, a broker's work is considered illegal.
These procedures will allow the Iraqi Dinar to be bought and sold on Forex when they are done. At the present time, banks are in process of learning how to do foreign currency exchanges through an electronic process.
Now, it makes sense why my friend told me they were doing foreign currency exchange training with every currency except the dinar, but this is about to change with the reclassification of the Iraqi dinar by the end of this month.
© Goldilocks
https://economy-news.net/content.php?id=43449
https://gofaizen-sherle.com/forex-license#:~:text=The%20timeframe%20for%20issuing%20a,are%20considering%20for%20your%20business.
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