Tuesday, July 23, 2024
Al-Nusairi: The application of banking reform strategies is the main pillar of the reform of the national economy, 23 July
Economy News – Baghdad
The adviser to the Association of Iraqi Private Banks, Samir Al-Nusairi, confirmed on Monday that the banking reform and development strategy is the main pillar of reforming the comprehensive national economy.
Al-Nusairi said, in a private interview with “Economy News”, that “the strategy of reform and banking development is the main pillar for the reform of the comprehensive and radical national economy in line with what was stated in Article twelve paragraph (7) of the government curriculum, which clearly and accurately stated that (banking reform, with its real and effective base to promote the Iraqi economy and stimulate investment through restructuring and mechanization of government banks, reviewing their work, stimulating private banks and enabling them to be able to support investment and development in a real way).
Al-Nusairi touched on “the importance of the banking sector, so that it occupies within the financial structure of the economy a vital position in mobilizing savings and financing development through its ability to flow money between the categories of the national economy, which is the basic step for economic reform.”
He pointed out that “the measures currently taken by the Central Bank with the support of the government to launch its new third strategy to reform and develop the banking sector for the years 2024-2026 in accordance with seven main objectives, 24 sub-sub-initiatives and 75 initiatives to implement the objectives focus on achieving monetary and financial stability, strengthening the banking sector, promoting digital transformation, activating electronic payment, enhancing financial inclusion, maintaining a sober financial system, developing the regulatory structure and human resources, strengthening the internal and external relations of the Central Bank, and the compliance of the banking sector with international standards.”
Al-Nusairi pointed out that “the launch of a national strategy for bank lending in Iraq for the years 2024-2029 aimed at increasing credit granted to the private sector by 4% of the non-oil GDP, which is equivalent to approximately 7 trillion dinars. The second goal is to increase credit for small and medium enterprises by 3% of the non-oil GDP, which is equivalent to approximately 5 trillion dinars.”
He stressed, “The new mechanisms adopt the regulation of loan grants for the development of micro, small and medium enterprises by adopting and based on a new approach to determining the basic goals for the development of the economy and evaluating the current situation of financing the private sector and benefiting from international experiences in this field, as well as continuing procedures and using monetary policy applications by controlling the exchange rate and reducing the gap between the official rate and the parallel price towards reaching the target and balanced exchange rate.”
Al-Nusairi explained that “had it not been for the many services provided by the banking system in developed countries, these countries would not have been able to reach their progress and economic growth.”
He pointed out that “the strength of the banking structure has become a necessity to build a prosperous economy that adopts modernity systems and sound sustainable development. The development of banking habits and awareness of the importance of developing banking facilities in a way that ensures the building of the national savings base and develops the financial resources necessary to build the economy has become one of the priorities of the decision-maker.
The Advisor of the Association of Private Banks continued: “The integrity of the banking system and the mobilization of sound decisions in the field of economic policies towards the development and modernization of banking systems provides the achievement of momentum in the world of real and financial investment, which revives financial and monetary markets, which leads to attracting for-profit-seeking foreign capital, which should the decision-maker to take the necessary measures to fortify and strengthen local banking systems in a way that makes it able to meet the challenges of moving capital to and from abroad without causing money laundering or foreign exchange smuggling, and then increasing the profitability of financial and banking institutions and enhancing the GDP structure, and this is currently active in the government and the Central Bank.”
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Added 2024/07/22 – 12:18 PM
https://economy-news.net/content.php?id=45452
TWO CONFIRMED BANK STORIES FROM TNT , 23 JULY
TNT reportedly had two confirmed bank storys that people of his went into Wells Fargo in Vegas and were told there's a $2.98 rate on Iraq Dinar.
They also reported that ZIM was the "sleeper currency" (that it's actually going to be redeemed) but that there was a capital gains document that would have to be signed claiming 20% tax to be collected in 2025.
That was apparently for ZIM. There are treaties in place for Dinar and I believe Dong. So for what it's worth, Tony says that the "event" (meaning a rate on bank screens) has already occurred but that authorization hasn't been given to start RV. I don't know how this Wells Fargo was able to offer anyone anything prior to us all getting word
Sudanese adviser: Foreign remittance audit strengthens dollar stability and strengthens monetary policy, 23 July
Mawazine News – Baghdad
The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed on Monday that the adoption of an audit company for foreign remittances is an important step to enhance the stability of the dollar and achieve monetary policy goals.
Saleh explained, in a statement to the official agency, that “the approval of an audit company for external transfers will provide additional guarantees for the integrity of compliance processes and the speed of functionality in market transactions, especially external transfers.”
He added that this will enhance the efficiency of the cash market thanks to the clear information it provides, which contributes to the stability of transactions and raising the level of certainty in the market.
Saleh pointed out that this step will achieve two main objectives of monetary policy: the first, to improve the control of local liquidity and control the growth rates of the money supply; and the second, to stabilize the exchange market by strengthening the role of the official market and the superiority of its positive effects on the parallel market.
He added that the two goals are related to the role of monetary policy in stabilizing prices and containing inflationary expectations, which ensures stable real flows through the stability of the external value of money and this corresponds to the stability of the speed of circulation of money internally and the general demand for money in the national economy.
https://www.mawazin.net/Details.aspx?jimare=251709
IMPORTANT ACCOUNCEMENT, PART. 1 BY GINGER, 23 JULY
GINGER
💢🚨IMPORTANT announcement ⬇️
Part 1/2
❇In the days to come, you might see some frenzied posts regarding the RV aka The Camper Event
·For those who do not know, this is regarding foreign currency revaluation, which will take place, globally.
❇I will not take time to explain or describe this in greater detail simply because this is the '11th hour' & those who know, know & those who don't - that's perfectly alright 🙂🙏. At this late hour, it's not necessary that you understand the details since you're not vested or involved🙂🙏
❇Some members here are speculators in this opportunity in effort to bless others in the world thru humanitarian efforts
·That being said, urgent announcements will be made in the days to come that are specific to *these individuals*, particularly
·Please understand that these individuals (likely historical bond holders) will be signing a non disclosure agreement (NDA) and will not be able to discuss any details pertaining to this opportunity / rates / appointment or outcome. 🤐
·I'm letting you all know *now*, so that you will know that we must collectively protect these humanitarians and not say or do anything that will cause them to violate their NDA's. That includes asking questions with earnest expectations of getting them answered.
·Your admins are not the kind of people who would be rude or inattentive & ignore your questions. But respectfully, I must submit to you that many people are counting on the collective humanitarians in this group - and these folks cannot do *anything* to slip up & violate their NDA.
·With that being said, any questions asked (by those who are curious or wondering what's going on, must be ignored) - *and we ask your patience & understanding as to the reason why*. No one is intentionally going to ignore questions; but they must remain quiet on the subject of the Camper Event until their NDA commitment is over.
❇THOSE OF YOU INVOLVED - your Admin team will be watchful and the notifications will be shared here, multiple times, so that no one misses out on HOW to set up your exchange or redemption appointment
❇FOR THOSE OF YOU NOT INVOLVED - when that happens, do not ask "What is this all about?". As it will be too late to grasp the concept this late in the game, anyways. 🙏
·We will recycle this message on repeat to ensure the members have ample opportunities to see this
·We must do this, 1st, to protect the humanitarian members from saying anything to violate their NDAs
·We must do this 2nd to quell any curiosity or probing from members who are not aware or involved & just curious to know more ❇After we observe that members are notified to make their appointments, the admins will be asked to ⚠️delete ANY POSTS made in regards to RV or foreign currency, altogether. ⚠️ ONLY these topics will be prohibited 🚫
·Other conversation regarding NESARA / GESARA will be acceptable
·Please hear my heart - we don't want anyone feeling left out or ignored - so we're letting everyone know up front how things have to be, 1 - to protect the speculators in this group and 2 - to keep this group open and operational after these events occur.
·Please kindly understand that other RV Intel-Specific-Groups are having to go Silent for the duration of the NDA (which *could* be 90 days plus). So, unless we all want *this* group to go MUTE for months, we ALL must collectively understand the WHY'S and ramifications.
·Please kindly understand, that if one generous soul gives details about their appointment or exchange rates (after signing a legally-binding NDA) then their account will be frozen and their $ clawed back and assimilated elsewhere. They may then labor for humanitarian good but they shall no longer have any part in funding it.
·This is the reality and the gravity of responsibility that lies with each humanitarian (here) and each Admin, and myself - to protect the greater good. 🤐💜🤐🙏
TIDBIT FROM FRANK26, 13 NOV
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