DINARLAND HIGHLIGHTS: IRAQ FINALIZES HYDROCARBON LAW IN 2024, 15 SEPT

Summary

Recent developments in Iraq suggest potential changes to the Iraqi Dinar exchange rate, with optimism for upcoming currency exchanges and finalized salary agreements.

Highlights

• 💼 Significant meeting between Mbal and Baghdad finalizes the HCL hydrocarbon law.
• 💰 Salaries across regions to be equal, expected payments on Sunday.
• 📈 Potential currency exchange appointments may begin after market closes Friday.
• 📊 Analysts debate realistic IQD valuation; even a shift to 10 cents per IQD would be positive.
• 🏦 Major cross transactions in Iraqi banking sector show active market engagement.
• 📅 Iraqi banks announce dividend distributions for fiscal year 2023.
• 🔝 High contract rate for Iraqi Dinar linked to oil prices, favorable for holders.

Key Insights

• 📜 The finalization of the HCL hydrocarbon law is a crucial step for Iraq’s economic stability, indicating progress in governance and resource management.
• 🎉 Equal salary distribution across regions could enhance social equity and boost consumer confidence, fostering economic growth.
• 🔄 Anticipated currency exchange appointments signify a shift towards a more active and potentially profitable exchange market for the Iraqi Dinar.
• 💵 While some analysts suggest a more conservative valuation, any increase in the Dinar’s worth could yield significant returns for investors.
• 🏦 The volume of cross transactions in the banking sector indicates a robust economic activity, reflecting investor confidence and market liquidity.
• 📈 Dividend distributions from banks illustrate a positive financial outlook and provide incentives for local and foreign investments in the Iraqi economy.
• 📊 The connection between the contract rate and oil prices suggests that fluctuations in global oil markets will directly impact the value of the Iraqi Dinar, benefiting currency holders.

DINAR REVALUATION REPORT: HOW THE NEW SYSTEM OF DIRECT RELATIONS WITH CORRESPONDENT BANKS STABILIZE THE EXCHANGE RATE, 15 SEPT

 Iraqi Central Bank's Strategic Shift: Direct Relations with Correspondent Banks

In a pivotal move, the Central Bank of Iraq (CBI) has embarked on a transformative phase, transitioning from its current electronic platform for foreign transfers to direct banking relationships with international correspondent banks. 1 This strategic shift, set to be implemented by the end of 2024, aims to enhance the stability, transparency, and efficiency of Iraq's foreign trade financing. 1

Strengthening Financial Reforms

The CBI's high-level delegation visit to the United States, from August 26 to 29, 2024, played a crucial role in this development. The delegation, led by Governor Ali Mohsen Al-Alaq, held extensive meetings in New York with key financial institutions. 1 These included discussions with the U.S. Treasury, the Federal Reserve, Visa, Mastercard, MoneyGram, Citi Bank, JP Morgan, and major auditing firms such as KPMG, Ernst & Young, K2i, and Oliver Wyman. 1

Enhancing Transparency and Compliance

The meetings highlighted the CBI's advancements in monitoring foreign transfers and cash sales of U.S. dollars, aligning with international standards. These efforts have significantly improved transparency in foreign trade financing and fortified defenses against money laundering, terrorism financing, and other financial crimes.  1

Transition to Direct Relations

The transition to direct banking relationships is a crucial step towards centralizing oversight and regulation, aligning Iraq with global banking standards. Governor Al-Alaq confirmed that transfers through correspondent banks already accounted for 60% of the total (outside the CBI's electronic platform) with a realization rate surpassing 95%. 2

Phased Approach and Currency Diversification

This initiative is part of a phased effort to open direct communication channels for Iraqi banks with their foreign counterparts in correspondence and trade exchanges. The ongoing process will facilitate transfer channels in various currencies, including the Emirati Dirham, Turkish Lira, Indian Rupee, and Euro. 2

Impact on Exchange Rates and Financial System

The new system is expected to contribute to a more stable exchange rate and a more robust financial system. It offers comprehensive risk protection for all transaction parties and aligns with anti-money laundering and counter-terrorist financing laws.  2

Compliance Rules and Financial Reputation

The Iraqi banking sector's commitment to international compliance rules further enhances Iraq's financial position globally. The measures implemented by the CBI have received international praise from entities such as the US State Department and the International Monetary Fund. 3

Dynamic Financial Landscape

The CBI's Governor acknowledges the ongoing challenges but emphasizes that the financial situation in Iraq is progressing as planned. High coordination between the CBI, the Prime Minister, and the Ministry of Finance ensures financial stability and sustainability. 4

Reorganization of External Transfers

A major transformation is underway in reorganizing foreign trade management to achieve transparency and multiple goals simultaneously. This includes ensuring the accuracy of external transfer operations and verifying the source and final recipient. 4

Visualizing the Transition

To illustrate the significant shift in Iraq's financial operations and the reorganization of external transfers, a flowchart can be used to depict the flow of transactions from the current system to the direct banking relationship model.

Scenarios that the Iraqi Central Bank will work, listed by Al-Issawi, 15 SEPT

 Mawazine News – Baghdad

Economic expert Abdul Karim Al-Issawi said: “Today, in fact, the Central Bank of Iraq has already moved to the stage of direct relations with correspondent banks, and it is in the experiment stage while monitoring the changes that occur in all the process for the purpose of fortifying the transformation.

Al-Issawi told Mawazen News: The platform was aimed at enhancing transparency and ensuring compliance with international laws, especially with regard to combating money laundering and terrorist financing.

He pointed out that:

**Potential benefits:
1. *Facilitating transfers*: Direct relationships may make transfers faster and more flexible.
2. *Reduce remittance costs*: Relying on a platform may require additional costs that may be retreated with the new system.
3. *Enhancing international confidence*: If these relations are well managed, it may help boost the confidence of the international community in the Iraqi banking system.

As for the potential challenges: “
1. Compliance risks: Easing controls can increase the risk of money laundering and terrorist financing, which could damage Iraq’s reputation internationally.
2. Complexity of banking operations: Some banks may face difficulties in managing complex international relations directly without mediation from the central bank.
3. Impact on monetary policy: The central bank may lose some control over external money flows, which may affect monetary policy.

It is important that this transition (if it takes place) takes place gradually and deliberately, while ensuring that strong control mechanisms are in place to ensure that the Iraqi banking system is not exploited for illicit purposes.
The final decision will require a balance of benefits and risks, and will certainly have a significant impact on the Iraqi economy and international relations.

The economist stated that the Central Bank of Iraq is negotiating with the US Federal Reserve regarding the termination of the electronic platform for foreign transfers and replacing it with direct banking relations between Iraqi banks.

https://www.mawazin.net/Details.aspx?jimare=254919

" THE LARGEST DEVALUATION IN HISTORY OF DOLLAR BEGINS NEXT WEEK" GOLDILOCKS, 15 SEPT

GOLDILOCKS 

The largest devaluation in history of the dollar begins next week. It won't happen all in one week, but next week is when monetary policies change.

© Goldilocks

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Global Financial Crisis:

• The USA is paying $3 BILLION a day in interest expenses.

• Sat. 14 Sept. 2024 Foreign Banks Now Officially Target UBS: The traditional foreign bank was long considered a dying model. Following the end of Credit Suisse, the remaining players were now planning to go on the offensive.  https://www.finews.com/news/english-news/64356-auslandbanken-credit-suisse-ubs-schroder-adrian-noesberger-afbs-2

• Sat. 14 Sept. 2024: JPMorgan Chief Jamie Dimon has warned US economy faces an outcome worse than a recession.

• Many years ago a politician exposed the Central Bank Scam to Congress: “All banks across the Globe are presently broke because of their practice of Fractional Banking where they have lent money that they don’t have. They print and use money that has no backing. If any of us did that we would go to prison.”

• Sat. 14 Sept. 2024 Canada: Hey folks. Your neighbor here, figured I’d share some info with you. I’m Canadian. Walmart here will stop accepting USD on September 23rd. I’ve been digging trying to find out why. No one seems to know, I’ve had people dance around the question. If been left on hold for more than 20 mins until I’ve had to hang up. The closest thing I got to an answer was from a manager that said “It has something to do with new security features on the bills, and our machines can’t recognize it or accept it.” Anyone have any idea what’s going on? …Jay Rider on Telegram

Sat 14 Sept. 2024 Dollar Collapse Imminent! How GESARA and NESARA Will Trigger the Largest Wealth Redistribution in History! …NESAR/GESARA on Telegram

• The current financial system, a puppet show controlled by elites, is collapsing under its own c********n. We are not just facing an economic downturn but a global upheaval poised to dismantle the status quo.

• The collapse of the U.S. dollar signals the end of an era and ushers in the transformative promise of GESARA and NESARA—legislation that heralds the greatest wealth transfer in history, ensuring prosperity and financial freedom for all.

• This collapse has been engineered by financial elites, using the dollar as their tool to amass wealth while the masses suffer. As their system crumbles, GESARA and NESARA will reset the financial landscape, replacing c********n with equity and transparency, igniting the largest wealth redistribution the world has ever seen.

• The 2008 Crisis Was Just a Warning: Looking back at the 2008 crisis, it’s clear the so-called recovery was a lie. The elites used the crisis to pilfer wealth under the disguise of economic recovery, with the Federal Reserve protecting their every move. But today’s impending collapse is far worse. The reckless monetary manipulations have led us here, with global debt levels exploding. What we are facing isn’t just economic mismanagement—it’s sabotage.

• The Financial Apocalypse Is Here: The catastrophic policies of excessive liquidity and artificially low interest rates have destroyed the system from within. The dollar is dying, and as faith evaporates, a new gold-backed currency could rise, following the principles of GESARA and NESARA. This isn’t just about economics—it’s about the end of financial tyranny. We’re entering an era where power returns to the people and economic justice prevails.

• Preparing for the Inevitable: As the old system implodes, the principles of GESARA and NESARA offer a path forward. It’s time to secure tangible assets and support the systemic changes that will restore dignity to the financial world. This is about more than survival—it’s about rebuilding an economy that works for everyone.

• A Call to Arms: This isn’t just a collapse—it’s a controlled demolition. The elites have played their final hand, and now it’s our turn. The collapse of the dollar is inevitable, and GESARA’s promise is the only solution. The time for passivity is over. We must rally behind these reforms, tear down the old system, and usher in a new age of economic fairness.

• This is our moment. The financial apocalypse is upon us, but so is the opportunity to create a new legacy. Will you stand by, or will you fight for the future GESARA and NESARA promise? The time to act is now.

SOURCE: DINARCHRONICLES

US Troops to Withdraw from Iraq by 2026

State of Law comments on Foreign Minister’s statement about no US combat forces, 15 SEPT

 Province of Regulation Alliance pioneer Haider al-Lami remarked on Unfamiliar Clergyman Fuad Hussein’s assertion about the shortfall of American battle powers.

Al-Lami told , “The American powers are available on Iraqi soil and in army installations,” demonstrating that “the arrangement specified the presence of warning specialists just, yet the fact of the matter is the presence of American battle powers.”

He added, “The presence of American specialists on Iraqi soil is to guarantee working with the assignment of managing American weapons that were contracted among Baghdad and Washington in the previous periods.”

“America controls bases within Iraq, most notably Al-Harir, Ain Al-Assad, Al-Rimal, Al-Habbaniyah, and Al-Taji,” he stated.

He called for “being honest with the Iraqi nation about the American presence.”

Sat. 14 Sept. 2024 Bond Payout by Batman, 15 SEPT

 Sat. 14 Sept. 2024 Bond Payout by Batman

• Payouts to the large bondholders will only take one week and not the 6-12 months stated. I know this as fact.

• Redemption of the bonds will actually fund the GCR. This is how the gold will be transferred to back the new asset-backed currencies worldwide. Again, this is something I know as fact.

• Payments being made this week will include instant liquidity.

• The percentage of the monetary value of the legitimate bonds outstanding I believe will be well over 90%.

• The facts I receive are not from another guru, or a Telegram channel or some other pundit. They come directly from the source. People can either accept that or dismiss it. If it helps some people, then great. If people don’t want to believe that or if they want to dismiss it then so be it.