"A SCAM WOULD NOT ALLOW THIS" BY FRANK26, 31 AUGUST

KTFA

FRANK26: "A SCAM WOULD NOT ALLOW 

THIS"............F26

The Central Bank announces the participation of Iraqi banks in external transfers in multiple currencies

 

August 30, 2024

 The delegation of the Central Bank of Iraq in New York announced the start of the new phase of foreign transfer operations with the participation of (13) Iraqi banks, in an important step aimed at enhancing the diversity of currencies and facilitating international transfer operations.

 This announcement came after reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the euro, Chinese yuan, Indian rupee, and UAE dirham.

The delegation confirmed the definition of the scope of work of the international auditing company E&Y, which will review the transfer operations to ensure their safety and compliance with international standards. This step is a reflection of the Central Bank of Iraq's commitment to achieving the highest levels of transparency and security in all foreign transfer operations, and enhancing confidence in the Iraqi financial system. 

This initiative came within the framework of the Central Bank of Iraq's ongoing efforts to support economic growth and expand the horizons of international cooperation with global markets.

Central Bank of Iraq 
Media Office 
August 30, 2024

https://cbi.iq/news/view/2659

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The Central Bank announces the participation of 13 Iraqi banks in the external transfer

 

8/30/2024

 

Baghdad - WAA 

The Central Bank of Iraq announced, today, Friday, the participation of 13 Iraqi banks in the external transfer. 

A statement by the bank - received by the Iraqi News Agency (INA) - stated that "the delegation of the Central Bank of Iraq announced in New York the start of the new phase of foreign transfer operations with the participation of (13) Iraqi banks, in an important step aimed at enhancing the diversity of currencies and facilitating international transfer operations."
The statement added that "the announcement came after reaching an agreement on the mechanisms for regulating these operations, as it will include dealing in the euro, Chinese yuan, Indian rupee and Emirati dirham."
The delegation confirmed - according to the statement - "determining the scope of work of the international auditing company E&Y, which will review the transfer operations to ensure their safety and compliance with international standards. This step is a reflection of the Central Bank of Iraq's commitment to achieving the highest levels of transparency and security in all foreign transfer operations and enhancing confidence in the Iraqi financial system."
The statement concluded that "this initiative came within the framework of the Central Bank of Iraq's ongoing efforts to support economic growth and expand the horizons of international cooperation with global markets."

 

LINK

CONDITIONS FOR REMOVING THREE ZEROS FROM THE DINAR : PROJECT DELETE ZERO...

DINAR REVALUATION REPORT: Iraq's Currency Reform: Conditions for Removing Three Zeros from the Dinar, 30 AUGUST

 Iraq's Currency Reform: Conditions for Removing Three Zeros from the Dinar

In the midst of ongoing discussions regarding Iraq's currency reform, the Prime Minister's financial advisor, Mazhar Mohammed Saleh, has made a significant statement about the prospects of removing three zeros from the Iraqi currency as of August 29, 2024. 1 Saleh emphasized that the government is currently ruling out the removal of zeros at this juncture, citing the need for two primary conditions to be met before such a measure could be considered.

Two Conditions for Currency Reform

Saleh clarified that removing three zeros from the currency does not directly correlate with the value of the currency itself. Instead, this action is more closely associated with improving cash payment systems. The advisor outlined two essential conditions that must be achieved before the government could proceed with the removal of zeros:

1. Adequate Stock of Foreign Currencies and Gold

According to Saleh, the country needs to ensure a sufficient stockpile of foreign currencies and gold reserves. This condition is crucial for stabilizing the economy and supporting the value of the new currency.

2. Enhanced Cash Payment Systems

The advisor also stressed the importance of upgrading the country's cash payment systems. Modernizing these systems would facilitate smoother transactions and improve the efficiency of the financial sector.

Challenges and Considerations

The removal of zeros from a currency is a complex procedure that demands careful planning and execution. Challenges include the printing of new currency, modifications to accounting systems, and the need for comprehensive training on how to use the new currency. 4 Initially, there could be confusion among residents and consumers. If not implemented properly, this process might disrupt economic activities. Therefore, it is imperative that any such reform is executed with meticulous planning to achieve its intended goals.

Historical Context

Iraq's Central Bank has previously considered removing three zeros from the dinar as part of a strategic plan to reduce transaction costs and ease the burden of carrying large amounts of cash. 6 Such a move is not unprecedented, with countries like Turkey and Venezuela implementing similar measures in 2005 and 2021, respectively . 3

The Way Forward

As of August 30, 2024, the Iraqi government is not actively pursuing the removal of three zeros from the currency. However, this decision is subject to change based on the evolving economic landscape and the country's ability to meet the outlined conditions. The focus currently lies on strengthening economic fundamentals and ensuring that the financial infrastructure is robust enough to support any future reforms.

"BIT'S & PIECES OF THE MONETARY REFORM ARE NOT THE TRUTH" BY FRANK26, 30 AUGUST

 KTFA:

Frank26:  "BIT'S & PIECES OF THE MONETARY REFORM ARE NOT THE TRUTH"...........F26

Clare:  FRANK WILL TALK ABOUT THIS ARTICLE ON FRIDAY'S YOUTUBE.

"Two conditions to achieve it" .. Al-Sudani's advisor rules out removing 3 zeros from the currency

8/29/2024

The Iraqi Prime Minister's advisor for economic affairs, Mazhar Mohammed Salih, ruled out the government removing three zeros from the Iraqi currency at present, noting that achieving this requires two basic conditions.

Mazhar Mohammed Saleh told Rudaw Media Network: "I rule out that the government will remove zeros now," indicating that "removing three zeros from the currency has nothing to do with the value of the currency, but rather improving cash payment systems."

The Iraqi Prime Minister's advisor for economic affairs explained that "the three zeros added price and monetary inflation to the currency, starting with the Iran-Iraq war and passing through the time of the economic blockade (the nineties of the last century), and the conflicts generated inflation in the value of the currency."

He pointed out that "when prices rise, we need larger denominations of money to maintain the equivalence between price and money. For example, due to price inflation, 25 Iraqi dinars have become 25,000 dinars."

Mazhar Mohammed Saleh pointed out the importance of "reducing the calculations that have reached trillions in recent years, and this has become a tiring matter," adding that "the process of raising three zeros does not only mean the value of the currency, but also the calculations and statistics, and in order for the method of managing it to be easy."

The Iraqi Prime Minister's advisor for economic affairs also said, "The process of issuing large denominations reduces the currency in terms of quantities, and is a process of reforming the cash payments system, especially since this modern and advanced time requires smaller numbers." 

Mazhar Muhammad Salih believed that removing three zeros from the currency, globally, requires two conditions: “political stability and economic stability. When these two factors are available, countries resort to removing zeros from their currency,” adding that “the value is fixed and not affected. Rather, it is a relative change.”

He stated that the project to remove three zeros “we worked on between 2011 and 2012, but there was a delay in the matter, because it requires a change in the accounts of the Republic of Iraq and statistics, and requires cooperation between monetary policy and all government policies.”

It is noteworthy that a number of economists and experts recently called for deleting three zeros from the Iraqi currency, considering that this would reduce monetary inflation in Iraq and strengthen the dinar currency.   LINK

THE IRAQ DINAR RATE CHANGE BY REINALDO JC, 30 AUSGUT

REINALDO JC 

The Iraq Dinar Rate Change

(receipts) *Iraq 2024 Budget is Currently Suspended Unconstitutional, Now Going Through An Appeal Per Federal Court-Delaying It on Purpose(Scripted) Along With {“World Wars”In The Middle East & Financial Events…Stock Markets/Fake Fiat} [waiting on Israel/US to attack Iran Nuclear Plant]. *The Budget #4782 Is Still Not Printed On The Gazette(that’s great news). We Want It On The Gazette After The Dinar Rate Changes. *WTO Final Steps Meeting in Nov Towards Full Ascension By End Of Yr. *U.S Troops Will Begin Withdrawing From Iraq This September. (Trump Mentioned They Wont Leave Iraq Until They Get Paid In Full-Hmmm). *BRICS Summit Scheduled This Oct. Iraq Will Be Part/Joining of BRICS. (TRADABLE CURRENCY NEEDED). *The Iraq General Population & Housing Census Scheduled To Be Conducted In October(After 27yrs). Head Count Needed For Financial Disbursement From The HCL-AFTER RATE CHANGES. *U.S. Treasury Dept Took Over Iraq Central Bank(CBI) To Get This Monetary Reforms Done & Over The U.S. Wants To Get Paid Now!!! *Possibility Of Trading Oil With Iraq Dinars. *Court Rules XRP Not Being A Security Which They’re Also ISO-20022 Compliant & Paired with the IQD. *Iraq Will Remove The Three Zeros Due To Historic Low Inflation, Political & Economic Stability-(iraq is very stable)-New Dinar Lower Currency Notes incoming. *Iraq Banking System is Basel lll Compliant. Iraq Dinar Currency Has Been ReClassified From C to A&B. Stated Directly From The CBI (in other words Iraq banking system is world class TOP NOTCH). *CBI Governor Ali Mohsen Al-Alaq Had Meetings With The Federal Reserve/U.S. Treasury Department This Week To Resolve Final Issues Including Lifting Sanctions On Iraq Banks (i wonder why). *Iraq Has Been Removed From The Grey List of Money Laundering. *The Ministry Of Education/Council Of Minister Has Set September 22 as The Date For The Start Of The 2024-2025 Academic Year(aligning w/middle year fiscal budget). *Baghdad International Airport Was Just Reopened To The Citizens On Aug 17th. After An Unspecified Duration Of Being Closed (why now). *Iraq Has Accomplished These Following Steps For Its Reforms In Order To Reinstate The Dinar: -Economic Stability -Political & Security Environment -Effective Implementation -International Support *The Central Bank of Iraq Will Cancel The Dollar Transfer Platform By The End Of This Year(no more $ auction-no more corruption stealing). **Iraq Central Bank(CBI) Gave Their Outlets/Partners Instructions On How To Advance Train Their Employees On Foreign Currency Exchange Procedures. **(History)-The Central Bank Of Iraq Introduced The New Iraq Dinar Currency In October 15, 2003 {the rate changed in september 03} & The Currency Exchange LASTED For ONLY (3) Months Until Jan 15 2004. *Most Likely, You’ll Have 90 Days From The Day The Rate Changes To Exchange Your Iraq Dinar Currency(imo). *The Late Dr Shabibi Governor of Iraq Central Bank From 2003-2012, Stated That Iraq Can Only Change The Currency Rate In The Beginning Or The Middle Of The Year. (that is Iraq financial MIDDLE of the Yr) *Iraq Internal Financial Budget Runs From {April-March}-jeff **Therefore, Iraq Financial MIDDLE Of The Year Would Be OCTOBER. *New Middle Yr Financial Budget Period is {October}. Therefore, Iraq Budget Would Need To Be Constitutionally Active With A New Exchange Rate To Be Implemented BEFORE Oct. *The Month of September Is a Highly Known Historical Possibility of Rate Changes. *Al-Sudani Openly Stated To The Citizens Of Iraq, That They Will Receive Their Purchasing Power(“ratechange”) In 2024, Swearing On Allah Himself. (PREDICTION) {imo} *It’s All Lining Up For Us Dinar Investors To Finally Be Financially Blessed This Year in 2024 Rate Change Anywhere Between {Mid September-Mid October 2024} -

@SmoothRey

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IRAQ'S BOLD MOVE: DINAR PEGGED TO A CURRENCY BASKET