FRANK26: "SUDANI ORGANIZES THE BANKS OF IRAQ FOR THE MONETARY REFORM"......F26
At US request, the Central Bank of Iraq is moving towards merging banks banned from dealing in dollars
7/30/2024
Informed sources revealed, on Tuesday, that there is a new American request to the Central Bank of Iraq, which includes merging the banks banned from dealing in dollars into the currency auction.
The sources told Shafaq News Agency, "The US Treasury and the Federal Reserve have asked the Central Bank of Iraq to merge the banks restricted from using the dollar, and to close some troubled banks."
The sources added, "The Central Bank of Iraq is required today to take rapid measures to merge banks and close the troubled ones in order for them to return to banking work, which will have a positive impact on the exchange rate. For this reason, the Central Bank has contracted with an international company to present a plan for the banking sector, which will include merging banks and closing some of them."
Informed sources revealed that "this company, recommended by the Americans, is similar to the work of K2 , without revealing its name or revealing further details."
Article: "Four counties meet in Baghdad to support the development road project" ...You have to look at their timing. They finished the 5-year development plan around the end of July walking into the beginning of August.
Why? Timing. They're about to revalue. Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August.
Jeff
Article: "Oil MP rules out oil and gas law"I've been telling you guys the oil and gas law has been outstanding since 2005.
Quote: "This law has been facing political dispute since 2005." There it is confirmed for you in print...That's because this law is simply waiting on the rate to change. It requires Iraq to have a tradable internationally recognized currency. That's it...
Did you know the US troops are going to start getting removed in the month of September? Did you know Iraq will finish their accession to the World Trade in August?
...They still have 150 laws that need to be done. They have a whole bunch of projects they need to start...The budget is not published in the Gazette...Did you know completing and implementing the reforms is a World Trade requirement but yet they're going to finish their accession in the month of August? ...everything is waiting on this right here [the budget]..
FRANK26:"SUDANI REMOVES THE BAD BANKS & CONSOLIDATES THE GOOD BANKS FOR THE MONETARY REFORM".........F26
Alia Nassif: The Central Bank's policy is pushing Iraqi banks towards execution!
Execution of Iraqi banks with licenses for foreign banks
7/31/2024
MP Alia Nassif strongly criticized the measures taken by the Central Bank of Iraq against local banks, considering that these measures contribute to “the execution of Iraqi banks.”
Nassif explained in a tweet on the X platform, which was followed by “Al-Mustaqilla” , that the Central Bank granted licenses to two foreign banks, namely the Arab Jordanian Bank and the Emirates Union, to operate in Iraq, and they will start their operations at the beginning of next September, alongside the National Bank. She also indicated that licenses will be granted to two other banks, one Kuwaiti and the other Qatari.
She said that these steps come at a time when many Iraqi banks continue to suffer, as their activities have been suspended and more have been closed as a result of the policies of the Central Bank. She expressed her dissatisfaction with the Central Bank’s management, which did not address the problems accumulated in the banking sector during previous periods, but rather worked to bring local banks into contracts with K2 and pay money without achieving tangible results.
Nassif pointed out that the Iraqi banking sector is now being punished for mistakes made in previous years under the supervision of the same current management of the Central Bank. She wondered why this same management was not held accountable for its failure to perform its supervisory duties during that period.
These statements come amidst a state of ambiguity and anxiety that dominates the banking sector in Iraq, which suffers from instability and declining confidence. The entry of foreign banks into the Iraqi market raises questions about the future of local banks and their ability to compete in light of the current challenges.
The move is part of the government’s efforts to attract foreign investment and boost the financial sector, but there are concerns that it will come at the expense of struggling local banks. Some MPs and experts are calling for a review of banking policies and providing the necessary support to local banks to enhance their competitiveness and achieve financial stability.
In light of these developments, the future of the Iraqi banking sector remains dependent on the decisions and policies that the Central Bank and the government will take to achieve a balance between attracting foreign investments and supporting local banks.
You need to put your big boy pants on... Article: "US Federal Reserve adopt a new strategy towards Iraq. The dollar is threatened with rising to unprecedented levels." They're talking about the policies that are coming up will threaten the dinar. There's a couple reasons for it...The idea that Hezbollah wants to put its headquarters in Baghdad, it doesn't matter if they do it or they don't, the idea that people in Iraq support that...It's too pro-Iranian. It's too pro anti-American markets. So they're going to be punished for it.
Breitling
Hamas moving into Iraq, that's still in play. That is a big issue. We're not going to support Iraq in any way shape or form if Hamas shows up
. That's a game changer...This [The Iraqi dinar] is an opportunity until the day it's not...With the Hamas thing right now it's not off the table. I don't see a threat yet. But I'm telling you that could be a big deal...If Hamas gets into Iraq, Iraq is in trouble. Its oil is in trouble...Hamas being in Iraq is a game changer. That's going to shift the markets. All we can do is hope and pray and watch.
9/JUNE
Breitling
I have an average at where I think it's going to revalue at, $0.51 or $0.52 cents. I could be wrong. It's not like Abraham Lincoln said that or something. It was an average. That's why I got into the dinar. That's where I seen the value.
---
The threat of a lop is still the same as when I got into this investment...The lop question is based on hyper-inflation ...verses policy inflation. The Iraqi dinar is stable. It goes up, it goes down but it's not major like what Zimbabwe and these countries where it was massive inflation. No body could control it. Iraq has complete control of the Iraqi dinar ...
The Iraqi dinar is a completely different ballgame. It's not hyper-inflated because of the markets. Iraq doesn't have a customer problem...production problem. Iraq has a policy issue. The people at the top know what they are doing.
When I did the evaluation [of the dinar] it was against countries and currencies that had lopped. I had the same questions as you guys when I invested. Where is this going? How can this work?
I found out the value was in a policy based inflation, they want to add value to it, they injected US dollars into the economy, devalued the dinar. Thedinar you and I have has nothing to do with hyper-inflation, major market problems or anything like that...Yes, they can add value to currencies that have a lot of zeros behind it. Iraqi dinar is stable. They can and are going to add value to it.
FRANK26:"THIS PLATFORM HAS BEEN CREATED AND REPLACED THE CBI AUCTION PLATFORM!!!"........F26
Experts: Dollar stability depends on creating a “new platform” with Iran and Syria
7/31/2024
Baghdad: Ahmed Al-Janabi
Financial and economic experts believe that the stability of the dollar exchange rate depends on creating a new platform for trade with Syria and Iran, and dealing with countries banned from the dollar in another currency.
Like the euro or the Chinese yuan.
The exchange rate yesterday in the parallel market was recorded at 149 thousand dinars for every 100 dollars, although the official rate at the Central Bank is 132 thousand dinars for every 100 dollars. Economic researcher Mustafa Al-Faraj said in a statement to “Sabah” that “the parallel market for the dollar is facing great pressure
By traders and travelers to Iran, Syria and other countries banned from using the dollar,” noting that “this increases the demand for the dollar and thus prices rise.”
He pointed out that "the solution to this problem lies in finding a new platform with these countries and dealing with them in a currency other than the dollar, such as the euro and the yuan, with the importance of finding an appropriate formula for the US Treasury Department to remove sanctions from our banking sector."
Al-Faraj explained that “Iraq lacks economic diversity and is completely dependent on oil, which has weakened other economic sectors,” explaining that supporting the productive sector can limit the drain on hard currency for imports.
For his part, the official spokesman for the currency market in Sulaymaniyah, Jabbar, explained:
Kuran said that “the rise of the dollar this time is not linked to a political or economic crisis or external factors, but rather is linked to the measures of the Central Bank of Iraq, and it is possible that the bank will control this.”
Height".
The Central Bank called for "taking measures that could reduce the dollar shortage in local markets."
In addition, economic researcher Alaa Al-Fahd expected the dollar exchange rate to gradually decrease in the coming days, explaining that this increase is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits.
He added, "The Central Bank of Iraq has discussions and procedures with the US Federal Reserve in order to control the exchange rate in the parallel market, and we hope that these discussions will yield positive results."
