Thursday, August 8, 2024
Coffee with MarkZ 08/08/2024
"HUGE: IRAQ IS DOING EXACTLY WHAT THEY SAID THEY WERE GOING TO DO SPECIALLY ON THE RECLASSIFICATION OF IQD" BY FREEDOM FIGHTER, 8 AUGUST
GOLDILOCKS
"Please inform us if electronic payment service providers, exchange companies of category (A, B) and brokerage companies have sold and bought foreign currencies by issuing a card/wallet or conducting any financial transfer, whether internally or externally, through the companies (Western Union, Money Gram) for the convict (Safaa Faisal Adhab Al-Amiri)."
Did you notice the new categories for Exchange in Iraq? They used to use categories c & d. Now, they are checking on their a & b categories utilizing an electronic exchange company or broker to see if new protocols are being followed.
Exchange companies have currently gone through the process of integrating new Capital requirements and connections to Banks that were not in place before.
Exchange companies have to hold enough money to cover foreign currency exchange transactions taking place, and they are being required to follow many of the technical/digital exchange protocols that you would see at a Bank.
Please read the overview of a/b categories in the link provided to you below. The a/b categories have an exchange rate of 2 to 5% fee for the exchange, and they are utilized on securities that are newly merging into the Digital Finance System a person is exchanging their Securities.
As you can see, there are many steps to reforming the foreign currency exchange system taking place. I am aware of a few more steps, and we will talk about them as we approach them going forward.
© Goldilocks
https://cbi.iq/news/view/2634
https://carpenterwellington.com/post/an-overview-of-a-b-exchange-offers/
https://www.linkedin.com/pulse/new-shift-exchange-companies-sector-faizan-imtiaz
FREEDOM FIGHTER
š¢HUUUUUUUUGE
And Goldilocks showed us in May this was coming and here it is. I will share the proof later how Iraq is doing exactly what they said they were going to do specially on the reclassification of IQD
šššš
Here it is from May 19th shared by Goldilocks that by the end of May Iraq was looking to reclassify the Dinar from category C to A/B
š¢NOW COMPLETE and TESTING to confirm the EXCHANGE institutions are conducting the exchanges under the new reclassification status
And may share MORE PROOF on why Western Union and Money Gram is so important
Parliamentary Integrity Committee prepares to question the Governor of the Central Bank of Iraq, 8 AUGUST
Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed on Thursday that his committee has been following up for more than a year on the file of ending the assignment of the Governor of the Central Bank, Ali Al-Alaq, from his position.
Al-Salami explained to Shafaq News Agency that the committee addressed the Prime Minister several times to pressure him to end Al-Alaq's assignment, due to the existence of many violations against him.
He added that the government program announced by the Prime Minister when forming the government includes the necessity of ending the management of positions by proxy after six months of forming the government, noting that Al-Alaq is still managing the position by proxy without any action to cancel his assignment so far.
Al-Salami pointed out that there are many files and violations related to the Central Bank, which have been referred to the Integrity Commission and the Public Prosecution, indicating that these violations include issues related to the lack of control over the exchange rate in the market, in addition to millions of dollars and interest received by Arab and foreign banks, including Jordanian banks.
He revealed that the Acting Speaker of the House of Representatives approved the request to host the Governor of the Central Bank in the upcoming sessions, noting that there are many questions that will be put to the Governor during the hosting session.
In contrast, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, told the official Iraqi News Agency that meetings will be held with the Federal Reserve and the US Treasury Department at the end of this August to review aspects related to foreign transfer operations and discuss the sanctions imposed on some banks.
Al-Alaq confirms the success of the Central Bank in leading the steps related to foreign transfers and selling the dollar. link
"IRAQI DINAR RATE THAT IS CONSIDERING IRAQ: 1 IQD = $1.32 USD, BY GOLDILOCKS, 8 AUGUST
GOLDILOCKS
"The Iraqi government is currently weighing the question of changing the currency so that the official cost of a US dollar will be 1.32 Iraqi dinars instead of 1,320 dinars. Implementing such a decision is likely to significantly increase Al Sudani’s popularity."
This decision is currently shrouded in political conflict, this is seen as a move to gain popularity by many in the region of Iraq.
Although this is going to be a reality due to many of the changes in their monetary policies, there are those who still do not want any changes to Iraq's currency.
The important thing to note in this article is that a rate is being considered. It is also needed due to more countries getting involved in their economy that will require them to raise their current Dinar rate to level the playing field in trade.
If you look closer at the numbers written into this article, you will notice that the first move on the Dinar would be to drop the three zeros. It makes things very clear what they mean by such a change in their rate.
Meanwhile, Iraq has agreed to implement their economic reforms this year. They are working with the IMF in this process.
© Goldilocks
https://www.jpost.com/middle-east/article-791161
LATEST FROM RAYREN98, 8 AUGUST
RayRen98
[via Babysmom]
I'M HEARING THAT A TECHNICAL ISSUE PREVENTED LIVE RATES ON YESTERDAY. THAT ISSUE
IS EXPECTED TO BE RESOLVED TODAY...IF WHAT THEY ARE TELLING ME IS TRUE...SOME OF YOU ARE GONNA GO TO SLEEP WEALTHY $$$$$$...
RayRen98
3 LETTERS ARE "TALKIN" BUT I AIN'T "LISNIN" UNTIL I SEE SOME RESULTS! LOL THEY ARE LOOKING AT TONIGHT.
RayRen98
[via Babysmom] "SOME BANKS ARE SEEING A HIGH SELL RATE ON THE DINAR BUT SAY THEY CAN'T SELL IT YET...WAITING ON APPROVAL/CLEARANCE"
RayRen98
WAS JUST INFORMED BY A 3 LETTER... IF NOTHING CHANGES, BANKS WILL SEE LIVE RATES IN THE MORNING. TIME WILL TELL.
RayRen98
IT IS BEING REPORTED THAT AN "ATTEMPT TO RELEASE" WAS UNSUCCESSFUL EARLIER TODAY... STANDBY...WHEN WE HEAR MORE, SO SHALL YOU.
---
NOTICE: ALL SYSTEMS ARE "GO" FOR TODAY...LET'S SEE WHAT HAPP...FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/rv-update-by-rayren98-3-august.html
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