DINAR REVALUATION

Wednesday, August 28, 2024

IT IS TIME TO REMOVE ZEROS & LIBERATEE THE IRAQI DINAR? BY MNT GOAT, 28 AUGUST

Mnt Goat

Article: “IS IT TIME TO REMOVE THE ZEROS?”

Article Quote: "...with the use of electronic payment operations, the environment will be mature and acceptable for the idea of implementing the decision to delete zeros, and the process will be automatic without the citizen feeling it.”

...the CBI wants this event to be almost transparent and smooth to the citizens...the solution is to digitize, then this will enable them to switch out the currency almost seamless to the citizens...

They must implement the digitization program first in ALL banks... Iraq is optimistic in getting the electronic initiative completed sooner than later. They are not talking about years.

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MNT GOAT

When they do liberate the dinar, it will include two main steps in the process. Please go to my blog to read all about these upcoming steps.

They CAN NOT and WILL NOT just jump to reinstate without first following a process of the Project to Delete the Zeros.

I have explained this process many times already to you. You can read it and follow it HERE. But today’s news is also about deciding whether they will peg the Iraqi dinar to a petro-dinar instead of petro-dollar?

Yes, you heard right. Didn’t I talk about this months ago?

Didn’t I tell you my CBI source told me they were considering this? How risky is it? Is this really Dr. Shabibi’s plan? Let’ talk about it in more detail.

https://dinarevaluation.blogspot.com/2024/08/when-they-do-liberate-dinar-by-mnt-goat.html

IRAQ'S NEW INDUSTRIAL LAW

Al-Mandlawi: Iraq focuses on the economic and investment aspect through concluding bilateral international agreements, 28 AUGUST

Acting Speaker of the Council of Representatives, Mr. Mohsen Al-Mandalawi, confirmed today, Monday, that Iraq is focusing on the economic and investment aspect by concluding bilateral international agreements.

Al-Mandlawi's office said in a statement received by the Iraqi News Agency (INA), "Acting Speaker of Parliament Mohsen Al-Mandlawi met, at his residence today, Monday, with the US Deputy Ambassador to Iraq, and the Director of the Political Section at the Embassy, Michelle Siders, and the accompanying delegation, to discuss a number of files of mutual interest, and to discuss the latest developments in the region."

He added that "during the meeting, the future of joint relations was discussed, and ways to develop them to serve the interests of the two friendly peoples, and the emphasis was placed on Iraq's keenness to establish balanced relations with its regional and international surroundings based on cooperation and mutual respect, and contributing to the country's growth and progress and achieving the people's hopes and aspirations."

Al-Mandlawi pointed out that "Iraq is currently looking forward, after the security situation has stabilized and ISIS gangs have been eliminated, to focusing on the economic and investment aspect through solid bilateral agreements and understandings capable of achieving comprehensive economic development in the country link

Iraqi Banks Take Charge: Financing Foreign Trade with Own Dollar Reserves!

Iraqi bank manager in Dearborn Michigan update BY WALKINSGTICK, 28 AUGUST

Walkingstick

[Iraqi bank manager in Dearborn Michigan update]

Aki talks to the CBI and he knows what's going on.

He was very surprised we have not asked him about the pictures that are being shown on [Iraqi] television of the lower notes...

[We] trust Aki very much. Every time Aki shares something...it comes out.

Walkingstick

[Aki Iraqi bank friend who runs a bank in Michigan]

Question: "Have you heard the three zeros will coexist for ten year?"

Yes, we have heard about it but we did not hear the number 10.

We heard that it would be over a long period of time.

Duel pricing in the market would be controlled easier.

Also, it would give the CBI longer time frame to collect the citizens 3 zero notes.

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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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Iraq Ditches the Dollar: The Petro-Dinar Revolution!

Economist: Iraq Stock Exchange suffers from lack of liquidity, 28 AUGUST

Economic expert, Saif Al-Halfi, confirmed that the Iraqi Stock Exchange is currently suffering from a lack of liquidity, due to the weak confidence of foreign investors in the Iraqi market.

Al-Halfi told Al-Eqtisad News that the Iraqi stock market suffers from a lack of liquidity, as trading rates are still relatively low compared to other markets in the region, noting that the daily trading volume may reach 3 billion dinars per day in the best case.

He stressed that the market value of the companies listed on the market exceeds 12 trillion dinars.

Most listed companies are seeing their shares decline as a result of lower demand and the exit of a number of foreign investors from the market.

Al-Halfi pointed out that foreign investors' confidence in the Iraqi market is still low due to unstable political and economic factors, as well as the lack of legal and procedural facilities for opening accounts for foreign investors, in addition to the weakness of the infrastructure in electronic trading.

He pointed out that the lack of technology and modern financial infrastructure, including digital banking services and advanced electronic trading platforms, affects the efficiency of the market and its ability to attract investors, and that the development of the banking system will be positively and directly reflected in the development of the performance of market indicators.

Al-Halfi stressed the government's role in promoting the stock market through economic reforms, supporting small and medium enterprises, and encouraging foreign investments.

Al-Halfi concluded his speech by saying that the Iraqi stock market reflects a complex reality that can be described as a mixture of pain and sadness as a result of the great challenges it faces, with some opportunities for joy and profits if the economic and political conditions improve link