Thursday, July 25, 2024
Government adviser points to weak cash credit ratio in Iraqi private banks, 25 JULY
Shafaq News / The financial adviser to the Iraqi government, Mazhar Mohammed Saleh, explained on Wednesday that the ratio of cash credit to total deposits in private banks may be close to the standard rate of 75%, which banks should reach or at least approach.
Saleh added to Shafaq News that deposits are the basics of traditional banking.
He explained that the market share of 63 private banks does not exceed 15% of credit and deposit operations, while the government banking system accounts for 85% of banking activity.
In the same context, the International Development Bank announced the opening of investment deposit accounts with the aim of serving Iraqi families.
The bank explained, in a statement received by Shafaq News, that these accounts offer returns of up to 10% per year, with monthly payment and cash prizes within monthly draws, and deposit holders also receive free life insurance, facilities to obtain a deposit guarantee loan, and a free credit card.
The bank stressed that the funds will be used in the service of the national economy, with a guarantee from the Iraqi Company to guarantee the deposits authorized by the Central Bank of Iraq, noting that deposits are one of the most important sources of funds at the level of the national economy and depositors.
Economic statistics show that the number of government banks in Iraq is 7, while the number of private banks reaches 74, which means that private banks constitute 91% of the total number of banks in Iraq.
https://shafaq.com/ar/اقتصـاد/مستشار-حكومي-يشير-لى-ضعف-نسبة-الا-تمان-النقدي-في-المصارف-ال-هلية
RV UPDATE BY PATRIOT ROD STEEL, 25 JULY
PATRIOT ROD STEEL
Major Fund movement for Group Leader access today. People just don’t realize or appreciate the magnanimous size of this global undertaking or the vetting and verification process on such massive amounts of bonds & other assets all ahead of us. It’s a tedious process. ROD STEEL
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PATRIOT ROD STEEL
HAPPY 4th of July PATRIOTS
Based on some private exchanges that have just taken place with a US Bank,
Things are even more promising for Next Week!
#PatriotRodSteel
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SUMMARY OF RV UPDATES FROM PATRIOT ROD STEEL
PATRIOT ROD STEEL
RV STATUS UPDATE#PatriotRodSteel
Greed among UN & Non NATO Countries scrambling for bigger piece of the pie. Banks & Fed Reserve on Standby this wkend. ABC Agencies saying this will be done end of day Monday if not before. Rate $3.91
I’m aware of the Plan, but cautioned against exposure, but now that it’s leaking…
#PatriotRodSteel
TEXAS SNAKE
Okie had some positive news earlier today, thought we would hear some indication of the new rate when the Premier returned to his country from his visit to the US, the banker is assisting his hospitalized wife in CA so very little news from him so I guess we wait for FOREX to open, but again sports fans we appear to be very close, so say your prayers tonight.
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Texas Snake, [04/22/2024, 10:25:30 p. m.]:
About 10 more minutes then I need to close
Will try to illistrate that tomorrow
Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV
Well folks will come back with anything new GOD Bless
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-texas-snake-24-april.html
Sunday April 14, 2024
Latest from Rod Steel ~ 2.10.24
My friend spoke to Patriot Rod Steel today, and he confirmed that he's spoken with some bond people and they have received funds.
More details from Rod: "I was told the paperwork was just completed and the Admiral is going to release everything on Monday."
Rod continues: "The Iraq Government will reveal the new ‘lower denomination’ notes this week and then release the new Dinar Rate (4+) to be published in the Government Gazette on Sunday and then go on FOREX this coming Monday, the 12th". ROD
My very close friend vetted this information with two other contacts. One who is very close to the Admiral - as in working alongside him on a daily basis. And the second gentleman is extremely close to those on the Bond side who are clued into the details regularly. They both are in alignment with Rod's news also - so that's extremely encouraging. We also know that Mark is hearing similar stories.
More from Ginger: I cannot give details because I'm sworn to secrecy, but allowed to say that the papers have been signed by people we know AND others have heard happy news from their group leaders on the T3 Bond side. I personally do not know of anyone in T3 who has liquid, spendable funds as of yet, but I'm extremely pleased with all of the news we're getting. I'm grounded and steady - remaining optimistic. 2.10.24
~ Ginger of the Liberty Lounge
https://dinarevaluation.blogspot.com/2024/02/they-have-received-funds-by-rod-steel.html
UrgentIraq and America issue joint statement on security cooperation. And they postpone the statement of the withdrawal of the alliance, 25 JULY
The US Department of Defense and the Iraqi Ministry of Defense led the second U.S.-Iraq Security Cooperation Dialogue in Washington, D.C., on July 22 and 23, 2024, where they affirmed their commitment to security cooperation and the common interest in regional stability.
According to the joint statement, the two delegations discussed “a set of bilateral security issues within the framework of the 2008 U.S.-Iraq Strategic Framework Agreement, and in the framework of recognizing our overall partnership.
Secretary of Defense Mr. Thabit al-Abbasi met with U.S. Secretary of Defense Mr. Lloyd Austin and representatives from the Defense Security Cooperation Agency, the U.S. Central Command, the State Department and National Security Council staff.
The Iraqi delegation, headed by the defense minister, also met separately with the Chairman of the Joint Chiefs of Staff, General Charles Q Brown, the director of the Counter-Terrorism Service, the deputy commander of the Joint Operations Command in Iraq, and other senior defense officials.
The US and Iraqi delegations affirmed their commitment to developing Iraq’s security and defense capabilities and their determination to deepen security cooperation through a full range of issues to enhance the common interest of both countries in the security and sovereignty of Iraq, and in the stability of the region.
The 2024 Joint Security Cooperation Dialogue is based on discussions that took place during the visit of the Iraqi-Sudan Prime Minister to Washington, D.C., in April this year and the inaugural Joint Security Cooperation Dialogue last summer. During the first joint security cooperation dialogue, the two sides decided to establish a bilateral top military committee to analyze three factors – the threat from ISIS, operational requirements, and capacity levels of the Iraqi security forces – to determine the future of the international military coalition in Iraq.
The joint security cooperation dialogue has continued on the basis of the work of the Supreme Military Committee over the past six months and in recognition of the upcoming 10th anniversary of the military mission of the Global Coalition to defeat ISIS in Iraq.
A detailed joint statement on the future of the Global Coalition’s missions and presence in Iraq is scheduled to be issued shortly after the conclusion of the work of the Supreme Military Committee.
The United States and Iraq intend to continue consulting on strengthening bilateral cooperation to ensure the lasting defeat of ISIS after more than a decade of cooperation between the international coalition and Iraq.
The Joint Defense Council noted the coalition’s historic achievements in Iraq and praised the millions of casualties at the hands of ISIS, these victims include hundreds of thousands of victims who suffered in the campaign to defeat ISIS in Iraq, such as members of the Iraqi security forces, including the Peshmerga, and partner forces around the world, including the United States.
The two sides stressed the importance of Iraq continuing to provide support to the international coalition to defeat ISIS in Syria and around the world.
In addition, delegations reached an understanding on the concept of a new phase of the bilateral security relationship, which includes cooperation through liaison officers, training and traditional security cooperation programs.
The two delegations also discussed efforts to build the operational capabilities of the Iraqi security forces through U.S. military aid and security cooperation programs, including through foreign military sales and foreign military funding. The two sides stressed the importance of continued cooperation to ensure the sustainability of US military equipment used by the Iraqi security forces.
The two delegations stressed the value of military vocational education and technical training programs and decided to strengthen both.
They also explored opportunities to expand Iraqi participation in U.S. Central Command-led regional military exercises and strengthen Iraqi military relations with U.S. Central Command Service Component Commands.
The two sides also decided to begin work on a memorandum of understanding to provide an enhanced framework for their bilateral security relations in the coming years, including mechanisms to ensure the ongoing permanent defeat of the terrorist organization ISIS.
In support of Iraq’s sovereignty and security, delegations confirmed that the advisory mission is in Iraq at the invitation of the Iraqi government to support the Iraqi security forces in fighting ISIS and to support and develop the Iraqi security forces, including the Kurdish security forces.
The Iraqi representatives affirmed their absolute commitment to protect individuals, advisers, convoys and diplomatic facilities of the United States and the countries of the international coalition.
Delegations discussed the continuing urgent need to return displaced persons and detainees currently in northeastern Syria to their countries of origin and support reintegration efforts into communities in Iraq. The repatriations represent an important line of effort in the ongoing fight against ISIS.
The successful completion of the second joint security cooperation dialogue underscores the two countries’ commitment to deepening bilateral security cooperation in all areas, including but not limited to the permanent defeat of ISIS led by Iraq and security cooperation efforts. Bilateral relations between the United States and Iraq promote regional stability and represent the commitment of both countries to promote the Comprehensive Strategic Framework Agreement.
"ABOUT THE NATIONAL BONDS ISSUED BY IRAQ" BY GOLDILOCKS, 25 JULY
GOLDILOCKS
Due to the great demand for trading in national bonds ( Achievement Bonds / First Issue ) and based on the request of the Ministry of Finance, this bank will offer ( Achievement Bonds / Second Issue ) on behalf of the aforementioned ministry and for an amount of ( 1,500,000,000,000 ) Iraqi dinars ( one trillion and five hundred billion Iraqi dinars)"
Iraq has not sold National Bonds since 2003. National Bonds increase liquidity for a Government's infrastructure.
This move will encourage the involvement of their private sector. It will engage the people of their country to invest in secured bonds backed by their own government.
National Bonds will enable the growth of Iraq's community through investing in what provides that growth.
© Goldilocks
https://cbi.iq/news/view/2620
https://www.reuters.com/article/markets/iraq-to-sell-local-bonds-to-public-for-first-time-since-2003-finance-minister-idUSL8N15546D/
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