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IMPORTANT IRAQ NEWS: PARLIAMENTARY FINANCE COMMITTEE DISCUSSES WITH US EMBASSY THE FINANCIAL AND BANKING SYSTEM AND THE LACK OF DOLLARS IN THE MARKET BY MNT GOAT, 17 AUGUST

PARLIAMENTARY FINANCE COMMITTEE DISCUSSES WITH US EMBASSY THE FINANCIAL AND BANKING SYSTEM AND THE LACK OF DOLLARS IN THE MARKET

The Parliamentary Finance Committee confirmed, today, Tuesday, discussing the financial and banking system and the lack of the dollar in the Iraqi market with a delegation from the US Embassy in Baghdad.

A statement by the Parliament’s media department received by / Today’s News / stated that “the head of the Parliamentary Finance Committee, Atwan Al-Atwani, received at the committee headquarters, in the presence of Representative Khalil Al-Dawski, today, Wednesday, a delegation from the US Embassy in Baghdad, Minister Counselor for Economic and Trade Affairs Julie Jules, Deputy Counselor for Economic and Trade Affairs Angel Fintling, Macroeconomic Officer, Economic and Financial Section Michael Pinnell, and Economic Assistant/Economic Section, to discuss the financial and banking system in the country, Ammar Al-Ammar.”

The statement continued, “The meeting discussed the financial and economic situation in the country and the repercussions of the parallel market issue and its negative impact on the government economically, in addition to the lack of the dollar currency in the market, and the sanctions imposed on some banks, as well as the issue of the electronic platform for exporting the currency.”

The head of the committee stressed “the importance of high coordination between the two sides in order to solve the pending financial problems, in addition to the importance of transparent dealing to benefit from the capabilities, and not resorting to dealing in another currency,” noting “the need to create an atmosphere of understanding and invest in building bilateral relations on this basis.”

Al-Atwani stressed “the committee’s keenness to commit to combating financial corruption and confronting money laundering, as they are the basis for building societies, in addition to coordination in order to make correct decisions in this regard.”

For her part, the Minister Advisor for Economic and Trade Affairs said that “there is a real opportunity for cooperation and reform of the economic and financial system between the two sides,” stressing “working together to find appropriate solutions to all problems for the stability of Iraq as a basic ally of the United States.”

The statement noted “providing clarification on the three-year general budget and plans for banking regulation and reform of the spending process, and how to finance projects, in addition to the importance of supporting the private sector and involving it with the public sector, which confirms the importance of investing the revenues achieved and the possibility of providing the service.”

According to the statement, Al-Atwani pointed out the “ambition to legislate a law on partnership between the public and private sectors and involve the private sector in the market, in addition to working to amend the tax law and shift from the paper system to the electronic system.”

IRAQ BOOTS ON THE GROUND REPORT BU FIREFLY, 17 AUGUST

 Frank26

   [Iraq boots-on-the-ground report]  

FIREFLY: We see Saleh again on TV.  This is the second time he talks to us now about the float.  He's saying the float can be adventurous.  We intend to have it fixed.  Ours will be fixed or managed float.  That is what's best at this time for Iraq and our currency.  He went and talked about how...we went from 11,000 ATMs to over 55,000...in gas stations alone...

 FRANK:  Ever since the United States Treasury showed up last week they just cannot stop talking to you every day on the television about the success of the monetary reform...new lower notes...the new exchange rate...Now it's gone way deeper into the float.

--

Frank26 

 [Iraq boots-on-the-ground report]  

 FIREFLY: Television show...the topic was about dropping the zeros from our currency and the introduction of a new currency and the issues of the implementation of this new currency.   They had on there a doctor of economics.  We don't know him but he is being sent by Sudani...He said...we have low inflation so we can delete the zeros.  They talked about how we will be obtaining purchasing power with this move.  

FRANK:  It's exciting to see the monetary reform education now on a daily basis teaching you on your television what you are about to be given...This is the third week in a row they talk to you about lifting the three zeros and about a new currency coming to you and now on the process of how they're going to implement that new currency to you...They continue to reaffirm purchasing power is coming to your currency...

----

 FIREFLY: CBI spokesman on television talking about the advantages and the different types of floating our currency is going to go through.  He said there are two types of float.  Free float and managed float.

  FRANK: ...You are in the monetary reform phase that is educating you on your new currency...new exchange rate...lower notes.  This campaign is pounding the information about the next step of the monetary reform...Why are you floating your currency?  Because they're adding value to it...Be ready at any moment.

https://dinarevaluation.blogspot.com/2024/08/latest-from-firefly-16-august.html

"THEY'RE GOING TO ADD VALUE TO THEIR CURRENCY" BY MILITIAMAN, 29 AUGUST

 Militia Man  

 There's no inflation so there's not going to be a lop...They're going to add value to their currency.  Why?  Because they have valuation.  

 Iraq has some of the largest deposits of phosphates and sulfur...massive world class gold supply...rare Earths...liquid natural gas and they have...tourism... They all generate income... The Development Road Project...you're going to find taxes and tariffs at the borders. 

 There's going to be a lot of revenue, a lot...Back in Saddam Husain era [the dinar] was around $3.22.  It may have been considered a little bit overpriced, should have been more about $2.80...It's at 1310 right now!  

There's a big difference.  Now you have to add all those things I just mentioned.  The valuation of a country.  That's what they have to do... Sudani wasn't lying when he said the dinar is going to be stronger than the dollar...

Iraq has some of the largest deposits of phosphates and sulfur...massive world class gold supply...rare Earths...liquid natural gas and they have...tourism... They all generate income... The Development Road Project...you're going to find taxes and tariffs at the borders.  There's going to be a lot of revenue, a lot...

Back in Saddam Husain era [the dinar] was around $3.22.  It may have been considered a little bit overpriced, should have been more about $2.80...It's at 1310 right now!  There's a big difference.  Now you have to add all those things I just mentioned.  The valuation of a country.  That's what they have to do... Sudani wasn't lying when he said the dinar is going to be stronger than the dollar...

🔥 Iraqi Dinar 🔥 Good RV News 🔥 Today IQD Value to Dollar RV News Guru Up...

Too little, Too late Mr. Alaq! BY MNT GOAT, 17 AUGUST

THE CENTRAL BANK OF IRAQ CREATES AN ELECTRONIC PLATFORM TO MANAGE COMPLAINTS FROM CLIENTS OF FINANCIAL INSTITUTIONS

The Central Bank’s media office stated in a statement received by {Al Furat News} that “Central Bank Governor Ali Mohsen Al-Alaq chaired the first preparatory meeting to establish a national company to manage central electronic payment systems in Iraq, with the participation of a number of bank officials, bank managers, electronic payment service provider companies, and the Iraqi Private Banks Association.”

He added, “During the meeting, the importance of regulating electronic payment operations, keeping pace with rapid technological developments, and creating a competitive payment industry that provides secure, reliable, easy-to-access, widely interoperable payment services, rapid response, and high flexibility to technical and regulatory changes were discussed.”

The office stated that “the meeting reviewed the company’s basic objectives and the special requirements for starting the establishment, as it will undertake the tasks of managing some of the central and basic electronic payment systems at the national level, operating them and developing them,” noting that “this step came in line with the strategic plan of this bank, which goes hand in hand with the government program in the field of electronic payment and its development in Iraq.”

(Too little, Too late Mr. Alaq!   ☹)

LATEST FROM MILITIAMAN, 17 AUGUST

 Militia Man 

 Corruption...At the very last minute you're going to do something that's dramatic and you're going to create value, you're going to want to have all the bad folks under the gun and maybe even notified prior to that we got your number..

 What I bring has data behind it.  I'm not just making it up or just getting phone calls.  I'm actually doing the work.  I put it together.  It takes a lot of time to put all the work together.  

I like doing it because it does help so many people...You're not the only ones that are tired.  Everybody in our crews can be tired at times.  We all need to support...

Article quote:  "Federal Integrity Commissioner...says we discussed the development in the integrity file and the government's efforts to recover funds into the Iraqi state treasury."

  There's some people out there that have stolen a lot of money and that money is still floating around the world...If you stole it you're probably going to have a knock on the door...If you're playing by the rules you shouldn't have a problem.  Depends on who writes the rules of course...