Article: "Urgent: Central Bank Governor: No intention to reconsider dollar exchange rates, we are undergoing a major transformation" Does Alaq have any control whatsoever over the dollar? No, not at all.But what does he have control over? When he states he's not going to do anything about the dollar he means it because he can't. But what he does have control to change the exchange rate of the dinar. He has that control.
Did Alaq resign?Answer, no.
Article quote: "Even the measures taken by the government to try to down low dollar prices to 1320 to sell it in a supported manner didn't not reach the elimination of speculation in the markets reducing the price of a dollar in the black market." It didn't work to kill the black market just yet but I got a strong feeling since the dollar auctions have gone from 250 million a day down to less than 25 million...consistently for over a week...we can see where their priorities lie.
FRANK26:"SUDANI & THE UST PREPARE THEIR BANKS FOR THE NEW EXCHANGE RATE".......F26
Rafidain announces the implementation of the comprehensive banking system in 37 branches
8/7/2024
Baghdad
Rafidain Bank announced, on Wednesday, the implementation of the comprehensive banking system in 37 branches.
A statement by the bank, seen by "Al-Eqtisad News", stated that "in implementation of the government program to move from paper transactions to electronic transactions to provide the best services to citizens, Rafidain Bank announced the implementation of the comprehensive banking system in the Al-Amir neighborhood branch in Najaf Al-Ashraf and the Kut branch."
He added that "the comprehensive system has been activated in Baghdad and the governorates, in addition to the border crossing branches (Zurbatiyah - Safwan - Arar - Trebil), so that the number of effective and completed branches of the system has become (37) branches."
He added, "This is an important step to strengthen the banking system, meet its requirements, and move away from paper work and towards completely moving towards electronic systems."
The bank confirmed that "the digital transformation plan and the adoption of the comprehensive banking system are proceeding according to the scheduled timings to include all the bank's branches in the implementation of the system."
He added that "the priorities and adoptions of the government program include electronic transformation in financial transactions, reducing the circles of routine for citizens, shortening time, simplifying procedures, overcoming obstacles, and intensifying efforts to improve the level of services provided to customers and completing their transactions."
The Depository Trust and Clearing Corporation’s (DTCC) insurance and retirement services has launched a producer authorisation (PAR) service.
The service offers a standardised method for insurance vendors and distributors to communicate with carriers in order to verify producers' authorisation.
PAR deploys simultaneous messages that allows distributors and vendors to ping carriers instantly to certify producer credentials, streamlining processes, and increasing operational efficiencies.
Justin Schwartz, executive director for product management for wealth management services at DTCC, comments: “There was an industry need for a unified service that provides real-time producer data, and we are pleased to now offer PAR. In the development of the offering, we focused on building out a standardised ‘can sell’ API message platform that improves client and advisor experience by providing increased confidence in authorised producers.”
HKMA Launches Consultation on Proposal to Rename 'Virtual Bank' as 'Digital Bank' w/ No Need to Introduce More New Virtual Bank Players at This StageFinancial News
There are two Financial Resets coming. One is digital, and the values of our new digital assets will be determined by supply and demand. This will, in turn, give us the ability to provide authentic values to our paper money.
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.
