The two exchange rates [Official rate and market rate] MUST come into alignment before there can be an increase in the currency value.
If the Iraqi dinar revalued next week are you ready? ...Understanding this one fact, you will do just fine. The wealthy never never ever spend their bases or the foundation of their wealth. In your case this would be the profits from your Iraqi dinars...Wealthy people invest their initial profits. The first person they hire is a financial advisor.
The second...is a tax professional...to make sure Uncle Sam doesn't get large sums of their money. If you do anything else you are in the fast lane to going broke.
Article: "JSC: The government has successfully completed the sale of securities" Quote: "
The government has successfully completed the sale of financial bonds...all the financial bonds that were sold, were all subscribed...This reflects the strength and stability of the State of Iraq."
Government bonds are a type of debt-based investment, where you lend money to the government at an agreed interest rate. Governments use them to raise funds that can be spent on infrastructure or new projects and investors can use them to get specific returns paid at regular intervals...
The Central Bank of Iraq submitted, on Sunday, the “system paper” to the Council of Ministers concerning the regulation of e-commerce in Iraq. The bank said in a statement received by Mawazine News, that “the Governor of the Central Bank, Ali Mohsen Al-Alaq, chaired the meeting of the Diwani Order Committee (24079) to regulate e-commerce in Iraq with the participation of the concerned authorities.”
During the meeting, they discussed the draft of the e-commerce system and consumer protection through the controls discussed by the attendees, through the procedures for registration and obtaining a license to practice this trade,” pointing out that “the committee contributed to the definition of the service provider and granting it the license through an electronic platform established by the Ministry of Commerce.”
The members of the committee stressed “the installation of controls for granting the license to those wishing to practice electronic commerce in a way that preserves the rights of all parties,” while the attendees agreed to submit the “system paper” to the Council of Ministers for review and approval to proceed with work.
During the past three months, the Ministry of Planning and the specialized work teams have made efforts to prepare and prepare the National Development Plan 2024-2028, the draft of which addressed in detail the main challenges facing the Iraqi private sector and the main objectives aimed at achieving its effective contribution to improving the investment environment.
While I agree with what is stated in the plan, we emphasize the need to add the basic pillars stated in the private sector development strategy.
For the years 2014-2030, and in particular its three time periods, its four pillars, its four pillars, what has been achieved since its launch in 2014, and what has not been achieved.
It is also necessary to state what has been achieved from Iraq’s Vision 2030, which clearly outlined the path to achieving a “strong and developing private sector.”
In addition to determining what has been achieved during the implementation of previous national development plans and the economic, financial and banking reform strategy included in the government program of the current government and what is the real role through which the private sector should contribute with government participation and support in managing the overall economy. This requires providing a legislative environment and a stable business environment and focusing on the axes that aim to build sound preliminaries for the transition to a complete economic reform.
This is what we all agree on, but this requires the government and the private sector in all its banking, industrial, agricultural, energy, health, construction, tourism and service sectors to participate and cooperate in implementing the transitional, medium and long-term economic reform strategy.
This means involving the private sector in a greater role in economic decision-making and leading the market institutionally and legislatively through the following:
1- Contributing with the government to improving the business environment in Iraq and providing an encouraging investment climate to attract national and foreign capital in accordance with the government’s program and encouraging and stimulating the achievement of partnerships between the public and private sectors in financing and developing development projects that have achieved implementation rates.
Good and its allocations are included in the general budgets of 2024 and 2025
2- Contributing with the government to creating a new legislative environment based on Article (25) of the Permanent Constitution, the strategies and laws related to economic reform, the private sector development strategy, its pillars and specific contents, in a way that ensures its activation and leadership of the market in the future.
3- Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government by taking rapid measures to activate the Private Sector Development Council and start its work under the chairmanship of the Prime Minister, enacting a special law for it and forming a joint advisory council from the government and private sectors linked to the council that includes experts from the various economic sectors nominated by the council members and provides its advice and works according to a special system approved by the council.
4- Contributing with the government in developing policies, mechanisms and strategies and participating in following up on their implementation to resolve the transition to time-programmed stages to a market economy.
5- Working with the government to provide additional sources of funding for the state’s general budget by adopting the development and diversification of resources towards raising the percentage of resources other than oil in the gross domestic product, by activating the real economy and diversifying sources of national income.
6- Work to encourage the establishment and development of small, medium and micro enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions for this purpose and issuing a special law to develop and advance these projects and determine their economic feasibility and benefit from the Riyada initiative launched by the Prime Minister and the National Lending Strategy launched by the Central Bank on 5/25/2024.
7- Cooperation in financing and ensuring the implementation of central plans to provide infrastructure to encourage and develop the private sector in industry, trade, agriculture, tourism, health, energy, construction, strengthening and services.
8- Activating the role of specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of taxes and accumulated interest incurred by owners of projects that have stopped production, and setting a short- and medium-term financial policy.
9- Coordination and cooperation with the relevant ministries and financial and statistical institutions, especially the Ministries of Planning and Finance, in building a financial and statistical information base and ensuring its transparency. LINK
MZ: Yes, More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the 12th-15th. Noone knows the exact timing but they are certainly preparing lots of bank contacts for that time period , so I think it may speak well to where we may be on that.
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I have been told by a number of different sources that the system [QFS - quantum financial system] is fully in place and tested. Nothing left to do but trigger it...with a possibility (treat as rumor- as we have heard this before) of money moving for us/ currencies as early as next week.
This is all coming from many, many different sources right now. Reputable sources.
This is very consistent chatter with big expectations. The system is in place and they hope to trigger it. I am pretty excited...
...I’m not saying a float is not possible …but I believe it would have to be managed and come out closer to the end rate they want.
There are supposedly movement of Kurdish leaders in Iraq visiting Baghdad and the rumor is the HCL will be nailed down tight…done, done, done…and the announcement could be today.