FRANK26: "SUDANI PREPARES EVERYONE FOR THE NEW EXCHANGE RATE"...........F26
Trade Bank of Iraq invites exchange companies to participate in the dollar selling window
8/7/2024
The Trade Bank of Iraq called on Wednesday all licensed exchange companies to participate in the cash dollar selling window for travelers.
In a statement today, the bank called on all exchange companies of categories (A, B) licensed by the Central Bank of Iraq to visit its branches to open a special bank account to participate in entering the window for buying and selling foreign currency for cash dollars for travelers.
It is noteworthy that the Central Bank of Iraq decided on July 4, 2024 to start selling dollars to travelers, exclusively through corporate and banking outlets at international airports.
Meanwhile, the Central Bank decided to grant exchange companies of category “AB” the ability to register internal and external remittance activities via the FITR platform.
America threatened Iran today, Thursday, August 8, 2024, with a "strike and devastating consequences" if it launched a major attack against Israel, in revenge for the assassination of former political bureau chief Ismail Haniyeh in Tehran at the end of last month.
The Wall Street Journal quoted an American official as saying, "We warned Iran that it could suffer a devastating blow if it launched a major attack on Israel."
"We sent a message to Iran that there is a risk of escalation if it launches a major retaliatory attack," the US official added.
He said, "Our message to Tehran did not include a threat to carry out an American strike against targets in Iran," stressing that "they warned Iran of consequences for its economy and the stability of its government if it launched a major attack."
For its part, the US State Department announced that "escalating the conflict could harm the Iranian economy," adding, "We continue to make clear to Iran that it should not escalate the conflict."
The US State Department stated that the US administration "does not communicate directly with Hezbollah, but we have partners in the region who are talking to the party."
The world, the countries of the region, and Israel are awaiting the Iranian military response to the assassination of the former head of the political bureau, Ismail Haniyeh, at his residence in Tehran on July 31, a day after the inauguration of the new Iranian president.
In the latest Iranian threats, Iran's acting Foreign Minister Ali Bagheri told France Presse today, "Our response to Haniyeh's assassination will be costly for Israel, but it will be in the interest of the region's security," stressing that "Israel is not in a position to wage war against Iran." link
It will be proven that stocks are being bought by U.S. Treasury – Black Rock’s exchange stabilization fund (ESF).So the ESF is buying stocks (buyer of last resort).
What this means is, BRICS is completely out from underneath the dollar (SWIFT).
FRANK26: "MOVE OVER ALAQ... UST TAKES OVER!!!"....F26
Urgent | The Governor of the Central Bank submits a request to be relieved of his post
8/6/2024
Baghdad/Iraq Observer
An informed economic source reported today, Tuesday, that the Governor of the Central Bank, Ali Al-Alaq, submitted a request to be relieved of his position.
The source told "Iraq Observer", "The Governor of the Central Bank, Ali Al-Alaq, submitted a request to the relevant authorities to relieve him of his position."
For a long time, the dollar exchange rate has been witnessing a significant increase in local markets without being controlled by the Central Bank of Iraq, which prompted a number of members of parliament to collect parliamentary signatures to question the governor of the Central Bank, Ali Al-Alaq.
Central Bank Governor's Resignation: Admission of Failure or Escape from the Repercussions of the Financial Crisis?
8/6/2024
The Governor of the Central Bank of Iraq, Ali Al-Alaq, submitted a request to relieve him of his post to Prime Minister Mohammed Al-Sudani, amid a series of issues and problems in the financial and banking sector in Iraq, which include the failure to control the dollar exchange rate on the black market.
An informed source revealed to Al-Mustaqilla today, Tuesday, that Al-Alaq decided to submit his resignation after facing multiple problems in the financial sector, in addition to his inability to fulfill his promises to control the exchange rate. This request comes at a sensitive time for the Iraqi economy, which suffers from severe fluctuations in exchange rates and direct impacts on the local economy.
The main reasons that prompted Al-Alaq to submit his resignation are related to the ongoing difficulties in managing the financial and banking sector, in addition to the major challenges in controlling the dollar exchange rate on the black market. Since taking office, Al-Alaq has made many promises to achieve financial stability, but he has faced great difficulties in implementing them, which has led to increasing pressure on him.
A document obtained by Al-Mustaqilla today, Tuesday, revealed that the Speaker of Parliament has agreed to host the Governor of the Central Bank, Ali Mohsen Al-Alaq, by the Parliamentary Integrity Committee. This hosting aims to discuss the challenges facing the Central Bank and investigate the reasons that led to the request for his resignation.
Al-Alaq’s resignation could raise questions about the future of financial policy in Iraq. The central bank is central to economic stability, and any change in its leadership could have a significant impact on financial markets and confidence in the banking system.
Iraq faces major economic challenges that require strong and qualified financial leadership. The most prominent of these challenges are:
Controlling the exchange rate: Iraq needs effective policies to control the dollar exchange rate and prevent speculation that leads to sharp fluctuations.
Banking system reform: Improving the efficiency and transparency of the banking system to keep pace with international standards.
Combating corruption: Promoting integrity and transparency in financial institutions to prevent corruption and restore investor confidence.
