LATEST FROM MARKZ, 7 SEPT

MARKZ

MZ: Actually some lovely news came overnight last night….Will give you a warm and fuzzy feeling

 MZ: Some Nesara contacts that I have not heard from in quite awhile have suddenly come alive….Not just my contacts…but others as well……and they are suddenly very excited……they say Nesara could happen as early as mid month……They believe this is it!!!

MZ: Crossing my fingers and hopin it is accurate. But hearing a lot of chatter that makes me feel good.

MZ: Redemption contacts do not think they have to work this weekend though. They are still a little salty about being on call last weekend and them messing with vacations ect…..

MZ: Iraq was quiet overnight…but there was lots of news over the last 2 days.

Member: What happens if Nesara goes first?

MZ: This is my opinion……I have been told that the first thing to happen with Nesara is a formal cancellation of fractionalized institutional debt. Then I expect it will go on from there with the rest.

Member: Will they release the RV on weekends or week days?

MZ: I am told its easier to release it on a weekend- Saturday night to Sunday morning …but anytime is fair game.

Member: What is your gut feeling for RV Mark?

MZ: You guys will give me hell whether it’s right or wrong….nobody knows the timing…….but my gut feeling is between the 11th and 15th……just a guess……

MZ: They will not tell you where to go ahead of time for security reasons. They want to keep it as private as they can. But I was told 90% of Americans will have an exchange location within 50 miles of their house….If you are in remote rural areas ….you may have further to go…..not sure about other countries.

MZ: They are the same things…..The redeeming banks/redemption centers…are bank locations with trained staff and equipment to handle our exchanges.  

DINAR REVALUATION UPDATE: IRAQ DISCUSSED WITH US. TREASURY & THE FEDERAL RESERVE THE FUTURE OF THE IRAQI DINAR, 7 SEPT

 Iraq's International Status and Developments on the Dinar and Investment Laws as of September 2024

As of September 2024, Iraq has made significant strides in its international standing, with promising developments in both the value of the Iraq Dinar and the country's investment laws. 1

Iraq's International Standing

Iraq's progress in international relations has been marked by a period of relative calm and stability since the appointment of Prime Minister Mohammed Shia al-Sudani in October 2022. This stability has allowed the Iraqi government to focus on key reforms aimed at addressing unemployment, reducing poverty, and improving government services. 3

Economic Recovery and Fiscal Policies

The Iraqi economy has seen a gradual recovery from the dual shocks of the oil price drop and the COVID-19 pandemic in 2020. Real GDP growth in 2021 edged up, and both oil and non-oil sectors are on track to reach pre-pandemic levels. The non-oil economy, particularly the services sector, has shown robust growth, outpacing the oil sector.  2

Budget and Fiscal Expansion

Iraq's parliament approved a record-breaking three-year budget in June 2023, the largest in the country's history, signaling the government's commitment to financial reforms and investment in the economy. The budget's focus on fiscal expansion has been instrumental in supporting the non-oil economic recovery. 3

Developments in the Iraq Dinar

Dinar Revaluation

The Central Bank of Iraq (CBI) announced a revaluation of the Iraqi Dinar in February 2023. This move, aimed at stabilizing the currency and improving trade finance, has contributed to the decline in domestic inflation to 4 percent by the end of 2023. 4

Investment Laws and Reforms

Reforms in investment laws have been a critical component of Iraq's economic strategy. The government has been working on implementing structural reforms to address the grievances of its citizens, including the diversification of the economy away from oil. The passage of new legislation and the ongoing efforts to improve the business environment have attracted more foreign direct investment (FDI). 1

Financial Reforms and U.S. Delegation

A high-level delegation from the Central Bank of Iraq, led by Governor Ali Mohsen Al-Alaq, visited the United States in August 2024. The delegation held meetings with the U.S. Treasury, the Federal Reserve, and major financial institutions, where they discussed financial reforms and the future of the Iraqi Dinar. 5

Conclusion

Iraq's international standing has been bolstered by its economic recovery, fiscal expansion, and the revaluation of the Iraqi Dinar. The government's focus on reforming investment laws and diversifying the economy has attracted more FDI and improved the business environment. As of September 2024, these developments have positioned Iraq for continued growth and stability in the global market. 6

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

https://www.facebook.com/tbiraq

 

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

 

(CLICK THE LINK TO WATCH THE VIDEO)

"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