"FABULOUS FIBER" BY FRANK26, 12 JUNE

FRANK26:"FABULOUS FIBER".............F26

The Minister of Communications announces a campaign to turn off towers in preparation for switching to fiber optics

6/11/2024

 

 Baghdad
 

On Tuesday, Minister of Communications Hiyam Al-Yasiri announced the imminent launch of a campaign to extinguish towers in residential areas in preparation for the transition to the fiber optic system.

Al-Yasiri said in a statement, reported by the official news agency, and seen by Al-Iqtisad News, that “the Ministry intends to implement a campaign to extinguish the towers in coordination with the relevant security authorities, and according to the schedules set for them, after which it will switch to the fiber-optic system.”

She added, "There will be no losses to tower owners or unplanned extinguishing, as the companies operating on FTTH lines have completed their work in dozens of Iraqi regions in preparation for extinguishing those towers, and there is a detailed scheduled plan that will be announced in advance to extinguish the Wi-Fi towers." Fi) and converting it to FTTH service, which will be with the consent of the citizen and not compulsory.”

Al-Yasiri continued, “The prices that FTTH will offer will be lower or equal to the prices of Wi-Fi, despite its high cost, but we bear these costs with the companies in order to provide good service to citizens.”

LINK

"RV UPDATE" BY MNT GOAT, 12 JUNE

 Mnt Goat 

 ...the IMF is not going “lop” theIraqi dinar.  A “lop” is a tool the IMF uses to restart a currency from massive inflation. ...We also have articles for Iraq telling us they WILL NOT lop the dinar. They do not have massive inflation and so this tool of a lop is not necessary. That is why they call it the “project to delete the zeros” and not a ”lop”.

Iraq...when ready, they will drop the three zeros and give the citizens so many days to turn them in the old three zero notes for exchange of the new lower currency denominations. This exchange will most likely be electronic. It will be a 1:1 exchange but not like many think...

I DO NOT mean one dollar for one dinar. I mean, for instance, a 25k note for a new 25 note. This is the 1:1 the CBI has talked about many times. Yes, the dinar may revalue first in-country to just over a dollar, but this is still not what the CBI meant by 1:1 in the past...the VALUE of the dinar has always been there...only when they drop the three zeros it becomes more manageable and nominal. The VALUE is still the same.

The electronic systems are taking hold...This will allow the shrinkage/withdrawal of the tangible currency notes from the market that is needed in the process to Delete the Zeros...a critical part of it...

I can remember hearing as far back as 2010 from Dr Shabibi the importance of the electronic banking effort and its advantages to the process. Yes, they MUST shrink down the currency mass...if you shrink down the monetary mass than what is left will be worth more.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mnt-goat-11-june.html

Jon Dowling & Andy Schectman Gold, Precious Metals & The Collapse Of The...

"CBI... LET'S ROLL!!!" BY FRANK26, 12 JUNE

 FRANK26: "CBI... LET'S ROLL!!!".......F26

The Ministerial Council for the Economy decides to support the independence of the Central Bank in formulating monetary policy

6/10/2024

 

Today, Monday, Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, chaired the seventeenth session of the Ministerial Council for the Economy, in the presence of the Deputy Prime Minister and Minister of Planning, the Ministers of Industry, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, and advisors. Prime Minister for Economic and Legal Affairs, and Chairman of the Securities Commission.

 

A statement by the Council, a copy of which {Al-Furat News} received, stated that it: “discussed the items on its agenda and took the necessary decisions regarding them. It also hosted the head of the Financial Supervision Bureau and his deputy, and the Director General of the Legal Department in the Bureau, to study and evaluate partnership contracts between the public and private sectors.” And a statement of the economic feasibility of its continuation or termination.”

He added, "Where the head of the Bureau reviewed those contracts that were divided between important contracts that benefit the state budget, and others that lacked economic feasibility, the Council decided to complete the discussions in the presence of representatives of the relevant ministries in order to resolve this important file."

The Council continued, "It also decided to approve the recommendations of the committee formed to study the adoption of Iraqi, Gulf, or higher specifications when importing vehicles, in order to preserve the lives and safety of citizens and users of vehicles and roads, while determining the contribution of foreign capital to Iraqi banks was discussed."

He added, "In line with the state's general policy of supporting the Iraqi and foreign banking sector and foreign investments in Iraq, the Council decided to support the independence of the Central Bank of Iraq in formulating monetary policy in accordance with its applicable laws and instructions."

The Council hosted the Technical Undersecretary of the Ministry of Environment; To discuss support for the Ministry’s projects related to implementing the government program and removing obstacles hindering its implementation.

LINK

"IRAQI BANK FRIEND AKI UPDATE" BY WALKINGSTICK, 12 JUNE

 Walkingstick  

 [Iraqi Bank friend Aki update]

In the coming days means at any moment now...the articles are going to be showing pictures of the lower notes.  It's also going to give descriptions in the articles of the lower notes...

----

Don't be dismayed if the rate is still the same in the budget when it comes out on Saturday...because Sudani is dealing with this [57 trillion] thievery...He could release an "operational" budget.

 [Iraqi bank friend Aki - highest level banking meeting update] 

 Sudani is putting contracts in place to be implement inside of Iraq.  Sudani has been doing this with thousands of contracts. 

"In the coming days" is what they told us that these contracts will be fulfilled in IQDs for most of the budget's projects...Those contracts will be fulfilled for their value but paid in IQD's only.

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[Information from Iraq bank owner #1 friend] 

   Ever since Sudani came back from Washington DC the government of Iraq...has been in the process of making...videos, commercials, advertising.  Sudani has been doing this on behalf of the executive level of all the private banks...These videos will soon be released and shown on Iraqi television and the big screens. 

 Sudani and the GOI are making these videos with the executive branch of each bank to teach the Iraqi citizens about the new national currency...and the process of the new exchange rate..

 There will be a primary video, a spearhead video.  The videos will be with the head of the private banks, the governor of the Central Bank of Iraq, the whole of the board members, the government of Iraq, Sudani himself, the Minister of Planning, the Minister of Finance, the Minister of Oil.  It will encompass all of the GOI of Sudani because the GOI encompasses the entire executive branch...These videos will explain to the Iraqi citizens the process of the monetary reform and where it is at that moment...

https://dinarevaluation.blogspot.com/2024/05/information-from-iraq-bank-owner-1.html

$4 Starting Rate Decided For Iraqi Dinar Today 2024🔥Contract Signed With...

"EVERY BANK IN THE WORLD IS READY TO EMBRACE IRAQ'S MONETARY REFORM!!! BY FRANK26, 12 JUNE

 KTFA

FRANK26:"EVERY BANK IN THE WORLD IS READY TO EMBRACE IRAQ'S MONETARY REFORM!!!"..........F26

The European Union mission expresses its readiness to cooperate with the Iraqi banking sector

 

June 09, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Union mission headed by His Excellency Ambassador Mr. Thomas Seiler in Baghdad.
His Excellency the Governor discussed the role of the Central Bank of Iraq and its interest in developing the banking sector, and its diligent measures in structuring government banks and addressing problems therein with direct support and follow-up from the Prime Minister.

His Excellency explained that these banks hired international auditing companies. Pointing out that the Central Bank is working to establish a “Riyadah Bank” specialized in financing small and medium enterprises, in order to facilitate and develop credit capacity, in consolidating loans, with support and supervision from the Central Bank and financing from private banks, and seeking the expertise of international organizations in this field. 

In his speech, His Excellency the Governor focused on the bank’s interest in strengthening and developing electronic payment systems and internal and external electronic financial transfers, and developing supervisory practices in the field of combating money laundering in accordance with international standards.

For his part, Mr. Siler praised the role of the Central Bank of Iraq in the steps it took to develop the banking sector, economic stability, and confront difficulties and challenges.

Expressing the readiness of the European Union to provide support and joint cooperation in developing systems and expertise for the staff of the Central Bank of Iraq and to open areas of cooperation with the Iraqi and European banking sectors through official communication methods between them.

 

Central Bank of Iraq 
Media Office, 
June 9, 2024

https://cbi.iq/news/view/2604