"IT IS VERY CLOSE" BY FRANK26, 1 SEPT

 Frank26   

I pray that this dream will come true for the both of us. 

 It is very close.

  There's no doubt about it. 

 All the indications are pointing that it's very close.  I just hope we get some good news when Alaq [returns from] New York...

Frank26 

 The new lower notes and the new exchange rate will revolutionize the whole Middle East, let alone the whole world...The monetary reform is the linchpin.  It's the trigger.  It's the button that will be pushed to change financial structures around the world...We investors of the dinar have a backup for a backup in order to survive this global financial change... 

Frank26 

 Article:  "Iraq and America to resume negotiations on the banking sector next Monday" 

 ALAQ'S VISIT IS ON IRAQI BANKS... IRAQI BANKS ONLY CARE ABOUT A NEW EXCHANGE RATE.

Frank26 

  I don't care about the WTO and HCL because it only waits for one thing, the new exchange rate.  The only mechanism that everyone is waiting for is the new exchange rate.  

That is the simple fact.  This fact is real because Sudani is constantly reinforcing that idea...by constantly coming out on TV and talking to you [Iraqi citizens] about you're going to get purchasing power.

We found out the 3 zero notes are going to coexist with the lower notes for 10 years.

  Do you understand the power behind that?  

That means we're going to be able to participate in not only the float but the Real Effective Exchange Rate (REER)

 Frank26 

 The goal is what?  Retrieve those [Three zero notes].  

How? 

As soon as we raise the value, give them purchasing power, as soon as we drop the 3 zeros, they're going to bring in all that 80 something percent [still in Iraqi mattresses]...The monetary reform plan is brilliant...It is moving at a very fast pace.

DINAR REVALUATION 

ANALYSIS OF WHAT EDDIE TOLD TO FRANK26: 

"Then Saleh talking about oil being sold in dinars instead of dollars." 

 Economist back on tv saying it’s time to drop the zeros."

---It sounds like there's a couple of interesting economic discussions happening in Iraq right now!

1. Saleh and Oil Sales in Dinars: Saleh's suggestion to sell oil in dinars instead of dollars could be aimed at strengthening the Iraqi dinar and reducing dependence on the US dollar. This move could potentially stabilize the local economy and improve national financial sovereignty. However, it would also require significant adjustments in international trade agreements and currency exchange systems.

2. Dropping Zeros from the Dinar: The economist's call to drop zeros from the dinar is a common monetary policy strategy known as "currency redenomination." This involves introducing a new unit of currency that is worth a thousand or more times the old unit. It's often done to simplify transactions and improve the currency’s image after periods of high inflation or economic instability. For Iraq, this could be a step towards stabilizing the currency and restoring confidence in its value.

Both of these measures reflect efforts to address economic challenges and enhance the stability of Iraq's financial system. The success of these strategies will depend on how they are implemented and their impact on the broader economy.

SEEMS THAT WE ARE REALLY CLOSE TO OUR DESIRED RV!!!

https://dinarevaluation.blogspot.com/2024/08/dinar-revaluation-update-seems-that-we.html

CBI's New Banking Guidelines: What You Need to Know!

DINAR REVALUATION REPORT: PURPOSE OF THE CONTRACT BETWEEN CBI & AUDITING FIRM IN NY, 1 SEPT

Purpose of the Contract

Central Bank of Iraq Contracts International Auditing Firm in New York

The Central Bank of Iraq (CBI) has contracted with an international auditing company, Oliver Wyman, based in New York, to undertake a comprehensive review of the conditions of Iraqi banks. This initiative, led by CBI Governor Ali Al-Alak, who is currently in New York, specifically targets banks that have been banned from dealing in US dollars. 

The primary goal of engaging Oliver Wyman is to develop practical solutions for the reintegration of these banks into the Iraqi and international banking sectors. 1 The company will also focus on improving banking procedures in line with international standards. 3

Enhancing Banking Relations

This initiative aims to facilitate the process of establishing direct banking relations and improve the quality of services provided by banks to support the Iraqi economy. 1 Oliver Wyman is scheduled to start its operations in the coming period.  2

Diversifying International Transfers

In a related development, the CBI delegation in New York announced the commencement of a new phase in international transfer operations involving 13 Iraqi banks. 3 The initiative is aimed at diversifying currencies and facilitating global transfers, which will now include the Euro, Chinese Yuan, Indian Rupee, and UAE Dirham. 3

The international auditing firm E&Y has also been engaged to review these transfer operations to ensure compliance with international standards. 3 This move underscores CBI's commitment to maintaining high levels of transparency and security in foreign transfer operations.  3

Ongoing Efforts for Economic Growth

These initiatives are part of the Central Bank's ongoing efforts to support economic growth and expand international cooperation with global markets. 3The CBI is currently conducting an unannounced visit to the United States to discuss developments in Iraq's banking sector. 4

The Central Bank of Iraq contracts with an international auditing company in New York, 1 SEPT

 Shafaq News / The Central Bank of Iraq announced on Saturday that his delegation headed by Governor Ali Al-Alak, who is currently visiting New York, concluded a contract with Oliver Wyman to conduct a comprehensive review of the situation of Iraqi banks, especially banks prohibited from dealing in the US dollar currency.

A statement issued by the Central Bank of Iraq explained that the company will work to develop practical solutions for the reintegration of these banks within the Iraqi and international banking sector, in addition to improving the level of banks’ procedures in accordance with international standards.

The statement added that this initiative aims to facilitate the process of establishing direct banking relations, and improve the quality and quality of services provided by banks to serve the Iraqi economy, as the company is scheduled to start its business during the next few years.

https://www.shafaq.com/ar/اقتصـاد/البنك-المركزي-العراقي-يتعاقد-شركة-تدقيق-دولية-في-نيويورك

"IF THE DINAR EXCHANGE RATE IS EVER TO RISE IN VALUE.." BY ENORRSTE, 31 AUGUST

 Enorrste  

 If the dinar exchange rate is ever to rise in value, it will be based on the economic success and growth of Iraq's own economy.

 There are no shortcuts.

---

Enorrste

They already have 132 tons of gold.  Now they’re coming in with another 50 tons per year.   They’re planning on making this the strongest currency in the world.  There’s no question in my mind.  They already have the strongest currency in the world because they’ve got 110 billion in cash in reserves…they’re over 100% coverage of their full money supply.  No other country has that strong of a currency…  they’re not messing around.   They want to have the strongest currency in the world. 

https://dinarevaluation.blogspot.com/2023/08/dinarland-update-from-dinarchronicles-8.html

---

Enorrste

…Opening a dinar denominated checking or banking account at Chase for instance as a possibility.  If it’s denominated in dinar and the dinar goes up, then you’re already home free, convert dollars right to your bank.  You get rid of that whole problem of taking 10 million dinar down to downtown Los Angeles and going up 15 stories into some building and hoping you don’t get rousted before you get there.

https://dinarevaluation.blogspot.com/2023/07/dinarland-update-31-july.html 

---

MILITIAMAN : Iraq Dinar-#Iraqidinar-IMF Article VIII - Compliance-International Stand...

CBI launches new phase of international transfers, 31 AUGUST

 CBI launches new phase of international transfers

2024-08-30 14:38

Shafaq News/ The Iraqi Central Bank (CBI) delegation in New York has announced the commencement of a new phase in international transfer operations, involving 13 Iraqi banks.

 According to a statement by the bank, this initiative is aimed at diversifying currencies and facilitating global transfers. The statement highlighted that this development follows an agreement on mechanisms to regulate these transactions, which will now include the use of the Euro, Chinese Yuan, Indian Rupee, and UAE Dirham.

The delegation also outlined the role of the international auditing firm E&Y, which will review these transfer operations to ensure compliance with international standards. This move reflects CBI's commitment to maintaining high levels of transparency and security in all foreign transfer operations, thereby bolstering confidence in Iraq's financial system.

This initiative is part of the Central Bank's ongoing efforts to support economic growth and expand international cooperation with global markets, as per the statement.

A knowledgeable source revealed on Thursday that CBI is currently conducting an unannounced visit to the United States to discuss developments in Iraq's banking sector.

According to the source, a delegation led by Central Bank Governor Ali Al-Alaq and several general managers has been in the US since August 26 to discuss recent banking developments and the restrictions on the use of the dollar imposed on many private Iraqi banks.

The discussions also touched on the potential cancellation of the platform early next year, which would shift reliance on correspondent banks, further restricting Iraqi private banks and potentially favoring Jordanian banks with American correspondents.

The source added that CBI is close to signing a contract with the consulting firm Oliver Wyman to conduct a study on reforming Iraq's banking sector, which will serve as a roadmap for future reforms.

Meanwhile, some economists have expressed surprise at the lack of public disclosure regarding the visit, particularly given its significance during this critical period.

EconomyBreakingUSDelegationIraqi Central BankInternational Transfers