💢Frank26: Al-Alak, the governor of the Central Bank of Iraq, spoke to the Iraqi citizens today, including members of the IMF, AMF, WB, that Iraq was successful in the monetary reforms and that the Iraqi Dinar will return to the glory days, and even surpass them!
They also showed the citizens the first video of the success of the work they have been doing! Eddie said it was an amazing video, and the guest speakers spoke for a long time about their successes!
This is huge people! They are talking about a massive new exchange rate! Surpassing the prior rate of $3.22! Remain calm but pray your hearts out that this comes to fruition in a reasonable timeframe! Praise our Heavenly Father for this blessing! All IMO of course!✌🏼
Association of Private Banks: Iraq witnessed a major revolution and widespread change in electronic payment tools
The Iraqi Private Banks Association confirmed today, Sunday, that Iraq has witnessed a major revolution and a wide change in the level of use of electronic payment tools since 2023, while indicating a significant increase in the size and number of electronic payment operations.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, told the Iraqi News Agency (INA): “The Iraqi Private Banks Association Foundation and the Iraqi banking sector are fully prepared to cooperate within the directions of the Central Bank of Iraq, which are greatly supported by government directions, especially after the recent visit to the United States.” The American efforts resulted in framing the process of working to solve the problems related to preventing the use of the dollar for a group of Iraqi banks.”
Tariq added, “The role of the Association of Private Banks believes in implementing these trends related to amending work mechanisms, using modern technical tools, and reviewing previous accounts,” stressing that “the Association will be very supportive of these trends.”
He pointed out that "the Association of Private Banks hopes for the return of banks that can meet the above requirements," pointing out that "the issue that occurred on the private banking sector had negative effects," adding that "the general trends and the banks' directions must be to repair the damage that occurred in the stage." previous".
He stressed that "Iraq has witnessed a major revolution and a wide change since the previous year until now in the level of use of electronic payment tools, which the government has approved the adoption of electronic payment in government or private institutions," noting that "Iraq has also witnessed a significant increase in the volume of operations and the number of operations related to electronic payment, In addition to an increase in the number of bank cards, and doubling the number of electronic payment points ( pos ), therefore there is a big change.”
He stressed that "the current year will witness significant and tangible change by the citizen."
Tariq pointed out that "the institution seeks as much as possible to strengthen relations between electronic payment companies and banks on the one hand and between government institutions and the Central Bank of Iraq on the other hand, in addition to educating the community on the continuous use of electronic payment tools link
Anybody going with Sudani is going against the mafias and going against those that are going to have their dollar auctions dry up.
They're going to have lots of different little things happen to them that are going to be painful.
Anybody that's holding the dollar when they change the exchange rate...those exchange companies, 197 banks that got tagged by the central bank...
they're going to have a painful experience because if you're not large on the dinar and you own dollars and Alaq drops the three zeros, those guys are going to have a painful situation... They've been warned. They've been open about stopping the dollar auctions in Iraq for this year...
Within months. Jump in Indian merchandise exports to Iraq
Baghdad - Iraq Today:
The "Iraq of the Future" Foundation for Economic Studies and Consultations said that the value of Indian exports to Iraq from April 2023 to March 2024 increased by 24% compared to the same period last year.
According to data from the Indian Ministry of Commerce and Industry, the value of direct Indian exports to Iraq amounted to 3.4 billion US dollars, up from 2.7 billion dollars for the same period last year.
According to a report released by the institution today, India's rice exports rose 131 percent to $910 million, up from the same period last year, which was worth US$392 million.
Fossil fuels decreased by 9.15% to $799 million from $879 million.
Indian meat exports increased by 41.5% to US$329 million from US$232 million for the same period last year.
Iron exports also increased by 153%, tea exports by 141%, fruit exports by 114%, clothing exports by 106%, and vegetable oil exports by 103%.
The commodities that fell were sugar, whose exports from India to Iraq fell by 85%.
The report indicates that India is the fifth exporter to Iraq of goods after the UAE, China, Turkey and Iran, and the establishment of India's exports is considered direct to Iraq, and may rise if it is added to the value of re-exported goods from the UAE, which is represented by a large percentage of Indian products.
On the other hand, the value of Iraq's exports to India, mainly of crude oil, decreased from 34 billion US dollars compared to 30 billion US dollars in the period from April 2023 to March 2024.
My question is whether or not Iraq is going re-denominate the Iraqi dinar because then [if they re-denominate] the Iraqi dinar isn't going to create a lot of millionaires. I'm hoping that they'll change the exchange rate and leave those zeros right where they are...
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Nothing would make me happier than to wake up in the morning and seeing for surely they increased the exchange rate...There's no more talk about the deletion of the zeros, which is good.
We don't want them to delete the zeros. If they're going to make a change to the exchange rate, we want them to keep the currency we currency have.
I don't care what them other jokers tell you, it's not going to be just off the exchange rate, it's going to come off the currency. We don't want a LOP...We want them to change the exchange rate for the better without removing the zero. That's what we want.
Iraq is on the verge of getting their full sovereignty which is awesome for Iraq and a huge step in going in the right direction. Article "Al-Aboudi: The decision to end the UNAMI mission in Iraq is a major step for full sovereignty"
Deletion of the zeros is a redenomination. Iraq is not positioned to do a redenomination. That means you have to create all new bill. I know they keep telling you guys it's only coming off the exchange rate but they're wrong...There's no increase in the exchange rate. I was hoping things will start going up in increments by now but that's not even moving, not yet anyway.
