Sunday, May 26, 2024
Launching The Activities Of The National Bank Lending Strategy 2024-2029, 26 MAY
Launching The Activities Of The National Bank Lending Strategy 2024-2029
May 25, 2024 His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, launched the National Bank Lending Strategy in Iraq 2024-2029, in the presence of a number of officials and representatives of diplomatic missions and organizations in Iraq, in cooperation with the German Agency for International Cooperation (GIZ).
His Excellency the Governor said in a speech he delivered during the celebration:
The lending strategy started from the pivotal role of the banking sector in the financial system, by acting as an intermediary between depositors and borrowers, and
through it is achieved to support economic growth, strengthen the business sector and help individuals achieve their needs and ambitions, indicating that bank lending It is the cornerstone of economic activity, driving growth and achieving well-being.
His Excellency added that there is an urgent need today to stimulate and diversify the Iraqi economy, stressing that the Central Bank of Iraq’s housing lending initiatives that it launched through the Real Estate Bank and the Iraqi Housing Fund have reached about (11) trillion dinars.
His Excellency stressed the need to expand the base of financial inclusion in Iraqi society, especially the expansion of the activities of small and medium enterprises, which are the backbone of the economy,
pointing out that employing the workforce is a matter of interest and focus for the Central Bank and the continuation of its initiatives for small and medium enterprises, which will culminate in the launch of Riyada Bank, supported by By the Central Bank of Iraq and with the contribution of private banks.
He believed that developing and implementing the national lending strategy for the years 2024-2029 requires cooperation between a wide number of relevant parties and a shared interest, to achieve the desired goal. Central Bank of Iraq information Office May 25, 2024 https://cbi.iq/news/view/2589
"ABOUT THE BOE: THE FIRST MAJOR CENTRAL BANK " BY GOLDILOCKS, 26 MAY
GOLDILOCKS
"The BOE is now the first major central bank discussing how it plans to revert to a similar system as before, draining reserves, then using repos – instead of bond purchases (QE) – to deal with issues."
The transition from government bonds to repos will take time as the remaining "Approved Financial Projects" that deal with infrastructure, real estate, and home loans “will take time to unwind.”
Here we go. The movement from utilizing bonds for liquidity to Repo Market lending such as the one we are in now called SOFR.
The Secured Overnight Financing Rate is collateralized by US Securities. The US Treasury holds gold as security for the use of gold certificates issued to the Federal Reserve Banks.
Gold is a Tier 1 asset under the Basel III banking regulations. This classifies physical allocated gold as the safest tier asset in comparison to cash. Gold is about to become King.
Under the Basel III rules, gold in allocated accounts is considered a Tier 1 asset and has zero risk weighting.
ETFs or Exchange Traded Funds that we are seeing be formulated on the market through Bitcoin and Ethereum are Tier 3 assets holding a riskier custody opportunity.
Gold is now being relisted, at the Bank of England, as the safest asset over cash going forward. Through the use of our new Tokenized Asset Commodity Based Market, our Stablecoins coins that represent a country's currency is about to be reclassified through gold.
Any country holding gold as collateral can now reclassify their currency as a collateralized security. It will increase the demand for gold and for Stablecoins that represents a country's currency.
This will be inclusive of all countries (ie Iraq) who have become Basel 3 compliant and moving to a local currency regimen as a payment source on the new digital economy.
As our new Digital Global Regulations through MICA finish this month and produce a white paper for other countries to follow, we can look for new credit valuation adjustments to begin after the June 30th, 2024 deadline for them to become law.
The demand for gold is the bridge into our next economy, and it's path forward to a new world is about to commence.
Gold will set us free.
© Goldilocks
https://www.11onze.cat/en/magazine/impact-basel-gold-market/#:~:text=Thus%2C%20the%20regulation%20reclassifies%20physical,3%20(the%20riskiest%20tier).
https://wolfstreet.com/2024/05/25/bank-of-england-to-sell-all-remaining-bonds-and-use-repos-instead-to-manage-liquidity-financial-stability/
The Government Sees Clear Indicators: The Parallel Dollar Will Be Equal To The Official One, 26 may
The Government Sees Clear Indicators: The Parallel Dollar Will Be Equal To The Official One
Economy | Yesterday, 23:41 | Baghdad today – Baghdad Today, Saturday (May 25, 2024), Mazhar Muhammad Saleh, the economic advisor to the Prime Minister, confirmed that
the dollar exchange rate in the parallel market is close to matching the official price, in conjunction with the increased capacity of banks to meet requirements.
Saleh said in a press statement followed by “Baghdad Today” that
“the price of the dollar will be 1320 dinars in the coming days,” noting that
“the important factors that work to reduce the value of the US dollar against the Iraqi dinar in the parallel exchange market will remain centered on two important variables, the first of which is the rise Capabilities of operating banks to comply with external transfer rules.
He explained that "the indicators are witnessing a cumulative increase, according to which the percentage of requested and executed requests in foreign currency for the benefit of financing foreign trade for the private sector through official transfer ports has increased, which has increased to more than 85%."
For more than two months, the exchange rates of the dollar against the Iraqi dinar have stabilized around 145 thousand dinars per 100 dollars, after it was between 155 and 160 thousand dinars per 100 dollars, while the decline in the exchange rate coincided with an increase in the amount of the Central Bank’s sales of dollars.
"THINGS ARE MOVING GUYS" FROM WOLVERINE, 26 MAY
WOLVERINE
Things are moving guys .
The greatest transfer of wealth has started T1 and T2 have been completed and Very positive Mark Z message today!
He’s saying he’s hearing Individual BondHolders expecting to receive big Payments now!
First time I’ve heard him talking about Individuals rather than Groups/Platforms.
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Thurs. 23 May 2024 Wolverine Here’s a helpful update
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