MILITIAMAN CC NOTES HIGHLIGHTS, 17 SEPT

Summary

The Iraq Dinar update discusses political developments, economic reforms, and the potential strengthening of the dinar, emphasizing hope and confidence for investors.

Highlights

• 📈 Al Sudani and Sadr’s collaboration aims for development and prosperity.
• 💰 Federal Court orders salary localization, hinting at currency changes.
• 📊 Electronic payments are transforming Iraq’s economy.
• 🗞️ Citizens expect a stronger dinar as reforms progress.
• 🔍 Increased public demonstrations reflect societal expectations.
• ⚖️ Legislative efforts focus on justice and economic stability.
• 🌍 Iraq is enhancing its global financial integration through technology.

Key Insights

• 🔗 The partnership between Al Sudani and Sadr is crucial for implementing reforms that benefit citizens, indicating a unified approach to governance.
• 💵 The Federal Court’s ruling on salary localization suggests that a currency reevaluation may be imminent, which could strengthen the dinar against the dollar.
• 💻 The shift to electronic payments signifies a move towards a digital economy, improving efficiency and transparency in financial transactions.
• 📈 Public sentiment is leaning towards optimism, as many believe in the potential appreciation of the dinar as economic reforms take effect.
• 📢 Growing public demonstrations indicate rising expectations among citizens regarding timely salary payments and economic changes.
• 📜 Legislative discussions around amnesty and personal status laws reflect a commitment to addressing past injustices, which can foster social stability.
• 🌐 Iraq’s efforts to adopt advanced technologies like blockchain and QR codes position it for better integration into the global financial system, enhancing trade and investment opportunities.

FRANK26…..9-16-24…..TRUSTS / STUDY

DINARES GURUS/ DINAR REVALUATION HIGHLIGHTS!: STATUS OF IRAQ , 17 SEPT

Summary

Iraqi currency may face devaluation risks if oil prices remain low, while banking reforms aim to enhance financial transactions.

Highlights

• 💰 Potential devaluation discussed if oil stays under $70.
• 🏦 Central Bank negotiating direct banking relations with the US.
• 📺 Iraqi TV updates highlight digitization efforts at ports.
• 📈 Positive news hints at changes in market prices soon.
• 🚀 Prime Minister Al Sudani cites progress and investment interest.
• 📊 Stable USD/IQD exchange rates reported in Baghdad and Kurdistan.
• 🔔 Continuous reforms in tax and banking systems noted.

Key Insights

• 📉 Devaluation Risks: The reliance on oil revenues makes the Iraqi dinar vulnerable; sustained low oil prices could trigger currency devaluation, impacting the economy.
• 🤝 Banking Reforms: The Central Bank’s initiative to establish direct banking relations with foreign institutions indicates a move towards greater financial independence and efficiency.
• 🌐 Digital Transformation: The ongoing digitization efforts at ports reflect Iraq’s commitment to modernizing its infrastructure, which could enhance trade and economic stability.
• 🏗️ Investment Climate: The Prime Minister’s remarks on investment interest highlight a positive shift towards economic recovery and development in Iraq.
• 📊 Exchange Rate Stability: The stable exchange rates in Baghdad and the Kurdistan region suggest a measure of economic resilience despite global fluctuations.
• 📈 Market Price Changes: Anticipated adjustments in market prices for essential goods indicate potential improvements in living standards tied to the currency’s valuation.
• 🔒 Security and Stability: The government’s emphasis on security reinforces investor confidence and supports long-term economic growth strategies in Iraq.

This Is How The Citizen Gets The Dollar, 17 SEPT

 This Is How The Citizen Gets The Dollar

Economy  | 09/16/2024  Mawazine News – Baghdad   The Trade Bank of Iraq announced today, Monday, the mechanism for obtaining the dollar currency for the purposes of traveling abroad.

The bank stated in a statement that "the requirements for obtaining the dollar currency for the purposes of traveling abroad are:

1. A valid Iraqi passport with a valid visa or residence.

2. A civil status ID and a certificate of nationality or a unified national card.

3. A residence card.

4. A valid travel ticket.

5. A pledge not to purchase foreign currency from another party inside Iraq for a period of (one month).

6. The traveler must be of Iraqi nationality and over (18) years of age.

Purchase mechanism:

1. An amount must be deposited in dinars at the bank branch exclusively, provided that the amount in dinars is equivalent to the value of the share of the same amount in dollars allocated for travel.

2. The dollar share shall be received from the outlet of the Iraqi Trade Bank at Baghdad International Airport (Babylon Hall) exclusively and by handing over the deposit slip granted to the customer when he deposited the amount in dinars.

3. The maximum period for depositing before the travel date is three days.

4. The dollar shall not be delivered to the traveler until after completing the travel procedure (Boarding pass) and after completing the passport stamping procedures.

5. The bank outlet at Baghdad International Airport will be designated For delivery purposes, the Travelers Dollar is available 24 hours a day, 7 days a week. ttps://www.mawazin.net/Details.aspx?jimare=254964

JUDY NOTE, 17 SEPT

 Judy Note

 The new Iraqi Dinar denominations are out in Iraq and new rates were showing up on certain but not all, bank screens. That couldn’t happen unless they had revalued the Dinar. 

From past Intel it appeared that the RV began on Fri. 13 Sept. when banks received financial transactions and were given up to 72 hours to finalize them, or risk a fine of $20 billion per institution. 

Bond payments were expected to complete by next Wed. 18 Sept.

Iraq's $17B Development Road Project

Coffee with MarkZ. 09/17/2024