Tuesday, August 20, 2024

MILITIAMAN: Iraq Dinar News -IQD Update - A ReCap of Events - PetroDinar - Al-Sudani...

"THERE IT IS!!!" BY FRANK26, 20 AUGUST

KTFA

FRANK26: "THERE IT IS!!!".........F26

Government Advisor: Al-Alaq's upcoming visit to New York will support the protection and stability of the banking system

8/19/2024

Baghdad

The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Saturday that the upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to New York will support the protection and stability of the banking system, while he pointed out that the file of the sanctioned banks requires negotiation due to the possibility of an error or exaggeration in issuing the decision to sanction them.

Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "the Central Bank is a strategic institution that works to support the value of the dinar and its stability, and to build balances in the Iraqi balance of payments, regularity of payments, and international reserves that support Iraq's foreign trade."

He added, "Due to the rentier nature of the economy, the Central Bank and its reserves have become the feeder and financier of foreign trade for the private sector."

He pointed out that "Iraqi oil sales are in dollars, and are deposited with the US Federal Reserve through an open account in the name of the Central Bank, which is managed by the bank on behalf of the Iraqi government."

He continued, "The upcoming visit of the Governor of the Central Bank, Ali Al-Alaq, to New York City in the United States of America comes to protect the Iraqi banking system and support its stability."

He explained that "the Central Bank, by virtue of its work and responsibility to maintain the financial system of Iraq, must negotiate with the American side regarding the file of the sanctioned banks to alleviate the severity of the deprivation on the banks, as there may be an error or exaggeration that was previously decided to be sanctioned by the American side," stressing that "there is insistence and communication from the Central Bank of Iraq in a good and positive way to protect the Iraqi banking system."

Earlier, the Governor of the Central Bank, Ali Al-Alaq, confirmed in an interview with the Iraqi News Agency (INA), that "there will be meetings held with the Federal Bank and the US Treasury Department at the end of this August to review aspects related to external transfer operations and discuss sanctions on some banks."

LINK

TNT UPDATE, 20 AUGUST

TNT
Mon. 19 Aug. 2024 TNT

“On Fri. 16 Aug. they tested the system. On Sat. 17 Aug. because the system was live, they were paying “Front of the Line” people who wanted to be nameless. They said we should get paid out Sunday evening, or Monday morning, but here it is and we wait. They are still expecting it today. They said it has been completed since Thursday.

They hope to be done funding all Central Banks today before we go. People are being paid in the US already. It should be international sometime after two o clock into tomorrow morning Tues. 20 Aug. I’m hearing people were exchanged at a live rate internationally. All the three letter agencies are saying it has been done since Thursday.

They all agree it is a live rate. They say there are Wealth Managers calling clients to tell them they will be funded and liquid today. For people in Canada there will not be 800 numbers. The Canadian Bank System is different than the US. In Canada the five major banks will do the exchange.

Foreign exchange is the responsibility of the government, not the banks. The banks can restrict smaller branches, but the government is in charge. All five major banks in Canada will be exchanging. In Canada at the time of the RV, contact one of the five major banks to do your exchange.”

Stable Iraqi Dinar Exchange Rate Failure?

"FROM PROFIT-SHARING TO ONLY USING THE IQD, ALL PART OF THE MONETARY REFORM" BY FRANK26, 20 AUGUST

KTFA

FRANK26: "FROM PROFIT-SHARING TO ONLY USING THE IQD, ALL PART OF THE MONETARY REFORM"..........F26

Iraq "Moves to Profit-Sharing" in New Oil Contracts

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17th August 2024

By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Iraq Moves to Profit-Sharing Terms in New Oil and Gas Contracts
Iraq seeks to attract more investment in its oil and gas industry by moving to profit-sharing contracts for new bid rounds from the technical service contracts it has awarded so far.
Click here to read the full report.

LINK

Coffee with Zester

LATEST FROM IRAQI BANK FRIEND AKI IN MICHIGAN BY WALKINGSTICK, 20 AUGUST

Walkingstick

[Iraqi Bank friend Aki in Michigan]

The monetary reform is very solid. Things are looking good...What happened with the CBI governor, he's not going anywhere.

The government can't fire Alaq in the same way Maliki fired the governor of the CBI Dr. Shabibi.

Maliki had no authority, he had no right to fire Dr. Shabibi.

Dr. Shabibi went and worked with the US Treasury to make sure the monetary reform plan was completed...

Walkingstick

[Iraqi Bank friend Aki in Michigan]

Question presented to Aki - Concerning the statement that was made by a representative of the WTO

[about Iraq launching a fully convertible currency in October

AKI: I didn't hear anything about October...

WALKINGSTICK: I would call it scuttlebutt because the interpreter was telling me that he says he's not sure about that...but he knows there are rumors out there about when this is going to happen.

AKI: I did hear about the WTO guy. Maybe he's talking about a new currency that would be convertible prior to October but there is no mention at the banks about October being the date. If anything I have heard it is before that.

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DINAR REVALUATION