Thursday, July 25, 2024
Al-Rafidain announces the application of the comprehensive system at the bank’s port at Baghdad airport, 25 JULY
Al-Rafidain Bank announced the application of the comprehensive banking system at the bank’s outlet at Baghdad International Airport and the Or branch in Dhi Qar to join the branches that have been activated the comprehensive system in Baghdad and the governorates, in addition to the branches of border crossings (Zarbatiya – Safwan – Arar – Trebil).
In a statement, the bank said in a copy of which {Euphrates News} received that “the number of branches in force and completed for the system has become (35) branches, in an important step to strengthen the banking system, fulfill its requirements, leave paperwork and turn to electronic systems.”
He stressed that “the digital transformation plan and the adoption of the comprehensive banking system are proceeding in accordance with the times set to include all branches of the bank by applying the system, especially as one of the priorities and adoptions of the government program is the electronic transformation in financial transactions, reducing routine episodes for citizens, reducing time, simplifying procedures, overcoming obstacles and intensifying efforts to improve the level of services provided to customers and completing their transactions.”
https://alforatnews.iq/news/الرافدين-يعلن-تطبيق-النظام-الشامل-في-منفذ-المصرف-بمطار-بغداد
RV UPDATE BY JEFF, 25 JULY
Jeff
President signed off on...the budget on June 27th. I want to show you a pattern here...Issue number 4781 published in the Gazette on July 1st 2024...then...
they skip issue number 4782 and advance to 4783...published on July 8th. We believe the Gazette issue number that is missing 4782...is actually the budget itself. They just can't publish it in the Gazette because right now it's being deemed or perceived as an unconstitutional law.
Jeff
The budget is not posted in the Gazette. The budget hasn't been implemented because it's unconstitutional...
Delete the zeros has nothing to do with the exchange rate. Deletion of the zeros simple means removing currency notes with multiple zeros on them.
There was a perception out there that the rate was going to change before the July 18th accession date to the World Trade...This was their 3rd accession World Trade meeting. There's a 4th meeting coming in Q1 of next year of '25...Many thought Iraq would become a full member as of July 18th. None of that happened.
Jeff
Some of you have said that parliament has nothing to do with this [the budget]...It actually does because they unconstitutionally approved the budget and the budget's approval has everything to do with it. That's the piece to the puzzle that is not understood.
Article "Parliamentary law challenges the 2024 budget tables" Parliament can only review and approve laws. It was parliament that did these amendments making their steps or actions of approving the budget unconstitutional. The courts possibly next week around Wednesday/Thursday declaring the budget itself as unconstitutional and overturning its approval...
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Jeff
Article: "The 2024 budget will be returned to the House of Representatives and the reason is revealed"
Iraq approved their budget on Monday June 3rd. I've known since June 4th Tuesday that the budget was unconstitutional...
I've stayed quiet since to let the news catch up. I knew this immediately was unconstitutional. I knew it was going to get overturned by the court, the whole time. Now you're witnessing it. The news is finally, a month and a half later, catching up...That's how far ahead we are...
Jeff
I told you guys the court would be overturning the budget because it is unconstitutional...I basically predicted the future for you. It's getting close to happening. They're most likely going to do this next week.
Article: " Legal:The Federal Court will vote on the unconstitutionality of the budget table" I told you the budget is unconstitutional. I told you nothing was going to happen to the budget. As you see I'm right. The budget is getting overturned. It is going to go back to an unapproved state.
The central bank announced their 3rd strategic plan... They'll be increasing gold reserves...they also said they're going to offer...FOR READ MORE:
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-jeff-1-may.html
The next big step in this is we want to see when Iraq will be amending their budget...They can amend it before or after the rate changes...
This weekend coming up would be the historical anniversary date of when Kuwait reinstated their currency - March 24, 1991
Iraq technically does not need to amend the budget if they're not changing their rate....
https://dinarevaluation.blogspot.com/2024/03/rv-update-by-jeff-22-march.htm
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