IRAQ PM CONFIRMS DINAR REVALUATION

"DON'T LEAVE HOME WITH YOUR 3 ZERO NOTES... BRING YOU MC/VISA CARD INSTEAD" BY FRANK26, 7 SEPT

KTFA

FRANK26: "DON'T LEAVE HOME WITH YOUR 3 ZERO NOTES... BRING YOU MC/VISA CARD INSTEAD".......F26

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Be the first... Life is faster with electronic payment cards.
(As part of the national campaign to support the culture of electronic payment in Iraq).
#Trade_Bank_of_Iraq

 

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"STAY UPDATED ON IRAQI DINAR NEWS!!!, 7 SEPT

Summary

Stay updated on Iraqi Dinar news, investment opportunities, and weekly giveaways. Remember, our content is informational, not financial advice.

Highlights

• 💰 Reports suggest payments for Dinar may be rolling out soon.
• 📜 Iraq’s Investment Law amendments are crucial for economic progress.
• 🌍 Iraq’s currency compliance with international standards is improving.
• 🔄 Ongoing discussions between the Central Bank of Iraq and the US Federal Reserve show positive developments.
• 🚀 95% of the electronic banking transfer process has been completed.
• 📈 Iraq maintains a B-minus credit rating, reflecting economic stability.

Key Insights

• 🏦 Currency Revaluation Potential: The likelihood of the Iraqi Dinar’s revaluation is heightened by positive news from multiple sources, indicating significant financial movement. 📈
• 🔍 Importance of Amendments: Changes to the Iraq Investment Law are pivotal for attracting foreign investment, which could further stabilize the economy. 💼
• 📊 International Compliance: Iraq’s currencies are now aligning with international standards, enhancing investor confidence and facilitating foreign trade. 🌐
• 🤝 Central Bank Collaboration: Advanced discussions between the Central Bank of Iraq and the US Federal Reserve signal a collaborative effort towards stabilizing the banking sector. 🔗
• 📅 Completion of Banking Reforms: With 95% of the electronic platform transition completed, Iraq is nearing the end of its banking reforms, which may catalyze economic growth. ⏳
• ⚖️ Stable Credit Rating: Maintaining a B-minus credit rating indicates Iraq’s financial resilience, crucial for potential currency revaluation. 📉

Iraq's Banking Revolution: From New York to Global Integration 🌍💼

"ALAQ'S MISSION IN NY IS EVOLVING SUCCESSFULLY FOR A NEW EXCHANGE RATE!!! BY FRANK26, 7 SEPT

KTFA

FRANK26:"ALAQ'S MISSION IN NY IS EVOLVING SUCCESSFULLY FOR A NEW EXCHANGE RATE!!!"...F26

US Treasury praises Iraq's progress in monitoring transfers and selling dollars

 

   9/02/2024

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Proposal to cancel SWIFT and replace it with relations with the international banking network

US Treasury praises Iraq's progress in monitoring transfers and selling dollars

 

Baghdad - Qusay Munther

New York - Morsi Abu Touq

The US Treasury Department praised the remarkable progress made by the Central Bank of Iraq in strengthening control procedures over foreign transfers and cash sales of the dollar, while considering that these steps contribute to strengthening financial and economic stability in the country .

Auditing companies

A statement by the bank received by (Al-Zaman) yesterday said that (a high-level negotiating delegation headed by Governor Ali Mohsen Al-Alaq held a series of intensive meetings in New York City, USA, which included discussions with the US Treasury Department and the Federal Reserve Bank, in addition to meetings with a group of companies, including international auditing companies, who praised the major transformations achieved by the Central Bank, represented by the remarkable progress in the procedures for monitoring foreign transfers and cash sales of the dollar currency), adding that (this led to improving systems, policies and procedures in accordance with international and local standards, enhancing transparency in covering foreign trade and providing protection for the banking and financial sector from the risks of money laundering, financing terrorism and financial crimes), and pointed out that (a meeting will be held between bank officials and its international partners by the end of this year regarding the major transformation in ending the work of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks and the network of international correspondent banks, according to the plan developed by this bank, and implemented internationally, which will allow the Central Bank and the Federal Reserve Bank to exercise their supervisory roles Away from the executive procedures, this transformation will have important repercussions on the stability, fluidity and transparency of the country’s foreign trade financing operations,” he continued, adding that “this step will contribute to achieving the required stability in exchange rates, which in turn will lead to enhancing the efficiency of the financial system in Iraq.” The statement stressed that “the meetings also addressed the mechanisms for expanding the network of international correspondent banks and qualifying Iraqi banks to meet the necessary requirements for opening their accounts with international correspondent banks, with the aim of enabling them to complete their financial transactions, whether through external transfers in US dollars or other foreign currencies .”

A source had previously revealed an unannounced visit by the Central Bank to the United States of America to discuss developments in the Iraqi banking sector .

Banking sector

The source said in a statement yesterday that (a delegation from the Central Bank, led by Al-Alaq, and a number of general managers, visited the United States of America, since the 26th of last month, to discuss developments in the banking sector and the restrictions on the use of the dollar imposed on a large number of private banks), and he continued that (the Central Bank delegation discussed canceling the platform at the beginning of next year, and relying on correspondent banks, which will increase the imposition of restrictions on Iraqi private banks, and completely eliminate competition in favor of Jordanian banks that have American correspondent banks), noting that (the Central Bank is close to signing a contract with Oliver Wyman, the consulting company for the Iraqi Development Road, to conduct a study on reforming the Iraqi banking sector, and in order for it to be approved by the bank as a roadmap for reforming the private banking sector ).

The dollar exchange rate rose slightly in the Baghdad and Erbil stock exchanges. Money exchange office owners said yesterday that “dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 149,200 dinars for every hundred dollars.” They added that “selling prices in exchange offices in the local markets in Baghdad stabilized at a selling price of 150,000 dinars, while the purchase price reached 148,000 dinars for every hundred dollars. As for Erbil, the stock exchange does not trade on official holidays, but the dollar recorded a slight increase there .”

 

LINK

DINAR REVALUATON HIGHLIGHTS : " PAYMENTS ARE ROLLING OUT" , 7 SEPT

 Summary

Latest Iraq Dinar updates reveal potential currency revaluation, investment law changes, and discussions with the US Federal Reserve, coupled with a giveaway announcement.

Highlights

• 💰 Currency Payments: Reports suggest payments are rolling out, hinting at possible currency exchange soon.
• 📜 Investment Law Changes: Iraq’s parliament is discussing amendments to the Investment Law, crucial for economic growth.
• 🌍 WTO Compliance: Iraq’s currencies are now compliant with international standards for Forex trading.
• 🔄 Banking Discussions: The Central Bank’s talks with the US Federal Reserve yield positive results for Iraq’s banking market.
• 📈 Credit Rating: Iraq maintains a B-minus rating, signaling economic stability crucial for dinar revaluation.
• 🔍 Due Diligence: Readers are reminded to conduct their own research and consult financial advisors.

Key Insights

• 💵 Payment Rollout: Multiple sources indicate that payments for the currency have begun, which could signal an imminent opportunity for currency exchanges. This could lead to significant market movements in the coming days.
• 📈 Legislative Impact: The ongoing discussions on the Investment Law are essential for Iraq’s economic landscape, as adjustments requested by the WTO could pave the way for increased foreign investment.
• 🌐 Global Standards: Iraq’s alignment with international currency standards is a critical step for its financial future, enhancing confidence among investors and traders.
• 🤝 Central Bank Relations: The positive outcomes from discussions between Iraq’s Central Bank and the US Federal Reserve may stabilize the banking sector, fostering a more robust economic environment.
• 📊 Economic Stability: Iraq’s sustained credit rating reflects its economic resilience, suggesting that a favorable environment for currency revaluation is developing.
• ⚖️ Importance of Research: Emphasizing due diligence is crucial as it empowers readers to make informed financial decisions amidst evolving currency news.

DINAR REVALUATION HIGHLIGTS!!!, 7 SEPT

 

https://youtube.com/shorts/Xu9uIapcy9U?si=e3sA3vY_o6cwvrQ9

@DINAR REVALUATION