Monday, September 2, 2024
Sunday, September 1, 2024
DINAR REVALUATION REPORT: Al-Sudani's Statement on ISIS Threat to Iraq, 2 SEPT
Al-Sudani's Statement on ISIS Threat to Iraq
In a recent statement, Iraqi Prime Minister Mohammed Shia al-Sudani reassured NATO and the US ambassador that the remnants of ISIS no longer pose a significant threat to the Iraqi state as of September 2024. This declaration comes amidst ongoing efforts to maintain stability in the post-ISIS era, where Iraq's leaders are attempting to balance their relationships with their two most powerful allies, the United States and Iran.
Iraq's Post-ISIS Era: Balancing Alliances
Since the U.S. invasion in 2003, Iraq has been a critical battleground for U.S.-Iran competition and, at times, indirect cooperation. The country's strategic location and Iran's support for Iraqi paramilitary groups have positioned Tehran with significant leverage relative to other theatres. Iraq became a key flashpoint for U.S.-Iran tensions during the "maximum pressure" era, marked by direct and indirect confrontations involving attacks by Iran-backed paramilitary groups on U.S. and allied interests.
To ensure the fragile stability achieved post-ISIS, Iraqi leaders are navigating a delicate path between their two influential allies, the U.S. and Iran. This involves balancing military and financial aid from the U.S. with the complex dynamics of Iran's influence in Iraq's security and intelligence sectors.
The War against ISIS: Global and Regional Dynamics
The war against ISIS has been a global effort, involving multiple regions and a diverse set of belligerents. In Iraq, the conflict has seen involvement from the Iraqi Security Forces (ISOF), the United States, Iran, and Russia, among others. The situation in Iraq is part of a broader military landscape that includes the Syrian Civil War, the Second Libyan Civil War, and other regional conflicts.
As of September 2024, Al-Sudani's statement reflects a crucial phase in Iraq's post-ISIS recovery. The country has made significant strides in eliminating the physical presence of ISIS, but the ongoing challenge is to address the root causes that allowed the group to flourish.
Closing
Al-Sudani's assurance to NATO and the US ambassador highlights Iraq's progress in overcoming the ISIS threat. However, the complex geopolitical landscape and the need for continued vigilance against potential resurgence underscore the ongoing challenges faced by the Iraqi government and its allies in maintaining peace and stability in the region.
Al-Sudani to NATO and the US ambassador: The terrorist remnants of ISIS no longer pose a threat to the Iraqi state, 2 SEPT
Baghdad – Mil
Prime Minister Mohammed Shia Al-Sudani, on Sunday, during his meeting with the leader of the international coalition mission to fight ISIS in Iraq, Kevin Leahy, in the presence of the US Ambassador to Iraq Elina Romanoski, stressed that the terrorist remnants of ISIS no longer pose a danger to the Iraqi state.
The Sudanese media office said, in a statement to “Mil”, that “the prime minister received the leader of the international coalition mission to fight ISIS in Iraq, General Kevin Leahy, in the presence of the American ambassador to Iraq.”
He added that “the meeting discussed the course of the technical dialogue between the two sides to end the mission of the international coalition in Iraq, and transfer the mission to the framework of bilateral relations between Iraq and the countries participating in the coalition, in addition to continuing cooperation in the field of training, expertise and information with the Iraqi security forces.”
The statement continued that “the Sudanese stressed that the terrorist remnants of ISIS no longer pose a threat to the Iraqi state, and its elements have turned into chasing groups in remote areas for the purpose of concealment, as our armed forces continue their military operations in tracking down any traces or burrows of these terrorists.”
RV UPDATE BY MARKZ, 2 SEPT
MarkZ
[via PDK]
Comment: ...13 Iraqi banks now trading international currency. MarkZ: I think that one is very important. They can now exchange back and forth in different currencies. The mechanism to exchange foreign currencies went live…I think this one is huge.
I did get an update this morning from a redemption center contact. They very much still expect to be called into work this weekend. Their chain of command said to expect to work before Tuesday. This is excellent news.
...my redemption folks...are on call…but they have been told to expect to work at some point over this long weekend. Since its Labor Day Weekend…This is unusual.
DINAR REVALUATION REPORT: Central Bank of Iraq's High-Level Delegation Achieves Notable Outcomes in US Visit, 2 SEPT
Central Bank of Iraq's High-Level Delegation Achieves Notable Outcomes in US Visit
On a mission to enhance Iraq's banking sector and strengthen international financial ties, the Central Bank of Iraq (CBI) dispatched a high-level delegation to the United States. The visit, spanning from August 26 to 29, 2024, was led by Governor Ali Mohsen Al-Alaq, accompanied by senior officials from the CBI.
Intensive Meetings and Strategic Engagements
During their stay in New York City, the delegation engaged in a series of intensive meetings with key entities in the US financial sector. These included the US Treasury Department, the Federal Reserve Bank, and prominent financial institutions such as Visa, Mastercard, and MoneyGram.
Discussions with US Treasury and Federal Reserve
The talks with the US Treasury Department and the Federal Reserve Bank centered on the evolving landscape of Iraq's banking industry. The CBI sought insights and guidance on regulatory frameworks and best practices to bolster the Iraqi banking sector's resilience and compliance with international standards.
Meetings with Financial Institutions and Auditing Firms
The delegation also convened with representatives from major banks such as Citi Bank and JP Morgan, as well as international auditing firms including KPMG, E&Y, K2i, and Oliver Wyman. These meetings aimed to explore opportunities for collaboration, improve financial oversight, and streamline processes for international transactions.
Major Transformations and Enhancements
The participants in the meetings lauded the significant progress made by the CBI in recent years. Notable achievements included: Improved monitoring of foreign transfers and cash sales of the US dollar. Alignment of systems, policies, and procedures with international and local standards. Enhanced transparency in covering foreign trade. Strengthened protection for the banking and financial sector against money laundering, terrorist financing, and financial crimes.
Upcoming Shift in Foreign Transfer Mechanisms
A pivotal development announced during the visit was the planned shift from the current electronic platform for foreign transfers to direct banking relations between Iraqi banks and international correspondent banks. This transition is expected to: Stabilize exchange rates. Enhance the overall efficiency of Iraq's financial system. Facilitate financial transactions involving US dollar transfers.
A year-end meeting is scheduled between CBI officials and international partners to further discuss and implement this strategic shift.
Conclusion
The Central Bank of Iraq's visit to the United States in August 2024 marked a significant step forward in modernizing Iraq's banking sector and aligning it with global financial standards. Through strategic meetings and negotiations, the CBI demonstrated its commitment to enhancing financial transparency, stability, and international cooperation.
LATEST FROM MILITIAMAN, 2 SEPT
Militia Man
You didn't have anybody talking about privatizing the banks 20 years ago...It wasn't in the pipeline. It's obviously different from 2016. We don't have ISSI anymore. It's obviously different from 2018.
Why would they print all that currency in 2018 and then just stop doing it?
...It's really a complex situation. It's more than just pushing a button... There was a component of corruption...We all know they're going to have transparency and accountability...With the likes of Ernst & Young involved the world will find confidence...You're going to find big things are underway for this country.
----
Article: "The Central Bank announces the participation of 13 Iraqi banks in foreign transfer in multiple currencies"
Friday afternoon...10pm in Baghdad, article hits the wires.
Quote: "Delegation in New York announces the start of the new phase of external transfers...facilitating international transfers"
If Iraq is going to be dealing with the Euro, the Chinese Yuan, Indian Rupee, the UAE Durham they're probably going to have to have Article VIII compliant currency that's acceptable globally, traded on the Forex... This is big.
Why do they come out on a Friday?
-
Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
-
Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
-
Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...