RayRen98
UH OH!! BANK SCREENS WENT BLANK TODAY ACCORDING TO SOME REPORTS...
WHAT COULD CAUSE THAT TO HAPPEN NOW, TODAY, AT THIS PHASE OF THE PROJECT?"
I'M BEING TOLD WHEN THE RATES RETURN TO THE SCREENS...IT'S COWABUNGA TIME (DEFINITION OF COWABUNGA TO EXPRESS THE LIGHT OR SATISFACTION).
BANKS ARE EXPECTING TO BE " FULLY STAFFED" ON FRIDAY.....HMMMMMMMM WONDER WHAT'S UP?
Shafaq News/ On Thursday, Iraqi Prime Minister Mohammed Shia Al-Sudani expressed the country's readiness to partner with American companies in the oil industry.
This declaration was made during a dialogue session in New York, hosted by the American Chamber of Commerce and Al-Monitor, attended by investors, business leaders, representatives from American companies, and the Iraq-US Business Council.
During the session, Al-Sudani highlighted the government's initiation of several rapid projects, including a significant agreement with Total aimed at increasing oil production and utilizing associated gas at approximately 600 million standard cubic feet. He noted, “We have launched supplements for the fifth and sixth licensing rounds, which have resulted in contracts for oil production and gas investment.”
Al-Sudani projected that Iraq would achieve self-sufficiency in gas by 2028, alongside the activation of oil derivative projects, such as the strategic Karbala refinery, which has a production capacity of 140,000 barrels per day. He also mentioned the rehabilitation of the Baiji refinery, which was completely destroyed during the battles to liberate the area, stating, “This refinery has a production capacity of 150,000 barrels per day.”
Furthermore, the Prime Minister announced, “We have ended petroleum derivatives imports and will stop importing gasoline at the beginning of next year after completing the FCC project in Basra.” He emphasized Iraq's vision to transform 40% of exported oil into downstream industries, which he believes will provide greater benefits than selling crude oil.
Turning to the banking sector, Al-Sudani remarked that development cannot be achieved without “a solid banking system” adhering to international standards. He noted that “95% of financial transfers in Iraqi trade are conducted through trusted banks.” He confirmed the currency sale window will close at the end of 2024 and highlighted that “the Anti-Money Laundering Office at the Central Bank is functioning effectively.”
Al-Sudani stated, “The government has contracted Ernst & Young to reform the state banking sector, boosting citizens' trust in banks and expanding financial inclusion.”
He affirmed the independence of the Central Bank, asserting, “It enjoys full independence and exercises its authority with complete professionalism,” and expressed plans to establish a new bank using the latest technologies.
Finally, Al-Sudani extended an invitation to all companies engaged in electronic payments to operate in Iraq, assuring them of all necessary facilitation.
“We have developed a plan to improve infrastructure with allocations of up to $83 billion,” he concluded.
Walkingstick
They [Iraq/CBI] are no longer under the umbrella for the US Treasury nor are they under any sanctions.
That's nice!
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Walkingstick
I strongly believe we need Alaq to finish what he's doing [In New York and Washington], come back...to Baghdad and bring the REER - Real Effective Exchange Rate to Iraq.
We believe this is the next step because of what Sudani told the Iraqi citizens.
IMO the commercials are the next thing that they're going to show them. IMO the commercials are already produced...They will be released to the public. When Sudani said the monetary reform is coming to an end...that's a big hint...That's what we in intel call a big clue.
Walkingstick
All the executive levels of the banks in Iraq are going to sit down with the governor of the CBI Alaq and receive instructions on the new currency next week.
Walkingstick
They got stability and security. Sudani has been bragging about it...Lift the three zeros has to do with the value, then not with the value, back and forth, back and forth, it has to do with the value and then, no it doesn't have to do with the value. The articles are contradicting.
They are lies. They are misleading with a purpose.
Walkingstick
Article: "Two conditions to achieve it .. Al-Sudani's advisor rules out removing 3 zeros from the currency"
These articles, this misleading, is intentional right now...Contradicting statements are found throughout all of these statements, all of these articles...The 25 note has to become a 25k note?
There isn't even a 25 note...When did Iraq last have a 25 note? Never.
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Walkingstick
[Iraqi bank friend Aki update]
Question: You're asking us why we are not talking to you about these [lower note] commercials. Can you tell us more about them?
AKI: Yes, they are coming out. This is the media campaign we told you about. It's getting faster and faster and louder and louder.
The purpose is to show the citizens the new lower notes and more information.
These commercials are coming out at any time now...Nothing is in the way to block this next step. It is a massive media campaign.
[[Iraqi bank friend Aki update]
New York is to remove the red tape that the United Nations is still holding on the banks of Iraq that are not participating in the monetary reform.
These sanctioned banks may stay sanctioned or be shut down completely.
It really doesn't matter to the monetary reform process but this is something that is needed to be done.
https://dinarevaluation.blogspot.com/2024/08/lower-notes-yes-they-are-coming-out-by.html
Baghdad – Mil
Prime Minister Mohammed Shia Al-Sudani stressed on Wednesday that Iraq has an important role in the security and stability of the region, and exerted an exceptional effort to calm down and work to not expand the arena of the conflict.
The Sudanese Information Office said in a statement, which replied to “Mil”, that “the Sudanese participated in the dialogue session held on Wednesday within the 14th Concordia Summit, which began in New York, on the sidelines of the meetings of the United Nations General Assembly at its 79th session.”
The statement added that “the summit dealt with a number of discussion axes that included cultural diplomacy and youth support, democracy, security, geopolitical risks, environmental sustainability and natural resources, global trade, industrialization and supply chains, health opportunities and challenges, as well as human rights and social progress.”
Al-Sudani pointed out, according to the statement, “to the difficult stage that the Middle East is going through, and Iraq’s repeated warnings after the events of October 7, with the importance of stopping this war that targeted innocent citizens in Gaza and the occupied territories, which left large numbers of martyrs, wounded and starvation, and the expansion of the conflict arena in the Red Sea, Syria and finally in Lebanon, as well as the tense situations between the Zionist entity and Iran, which may lead to a comprehensive war, indicating the importance of the Middle East region, which represents a third of the world’s oil needs, in the face of the intransigence of the Prime Minister of the occupation government and his lack of respect for international institutions, laws and agreements, and the failure of the international system.”
Al-Sudani stressed that “Iraq has an important role in the security and stability of the region, and made an exceptional effort in calming down and working to dean the arena of the conflict not widen, and supported all solution initiatives, including the recent proposal by President Biden.”
He added: “We have put pressure on all regional parties on the issue of restraint, and not to be dragged into attempts to expand the conflict arena to the Middle East.”
He added that “we called for a summit on Lebanon, and we have contacts with various leaders of the region, to urge an end to this war.”
He pointed out that “the relationship between Iraq and the United States is strategic, based on stops of helping Iraq overthrow the dictatorial regime, and extended to years of support for Iraq in the face of terrorism.”
He explained that “in 2014, the Iraqi government asked the United States for international support to confront ISIS, and on this basis the international coalition was formed to fight ISIS,” pointing out that “we fought fierce battles and won them and provided a model of cooperation with the United States, and with regional countries to confront the threat of ISIS.”
Al-Sudani continued, “It is important to re-evaluate the existence of this alliance, which is limited today’s existence to advisers and not combat forces as it is raised,” referring to conducting dialogues to arrange the end of the coalition mission, in which we thanked on behalf of Iraq’s people and government to all the countries that helped Iraq in its war against ISIS.
He stressed that “Iraq will remain an original member of this alliance to confront the threat of extremist terrorist thought, and at the same time we open the door to bilateral relations in the security field.”
He added that “we want our relationship with the United States to expand in the fields of economy, technology and other important sectors, and in line with the 2008 Strategic Framework Agreement.”
Al-Sudani spoke about the tripartite budget, that “the size of the investment plan in it reached 83 billion dollars in 3 years,” but saying: “We cannot launch to real economic development without having extensive infrastructure and effective services that meet the need of the citizen.”
He pointed out that “we have achieved an implementation rate of more than 33%, and up to $25 billion in the field of services over two years of the government’s life.”
“Optimism exists in popular circles about the seriousness of the government’s implementation in the service sector,” he added.
Al-Sudani stressed: “We have lifted 12 million people from the brink of poverty, through cash subsidies and a food basket that cost approximately 9 billion dollars, to reduce the poverty rate, due to displacement, war and the cessation of development over the past years.”
CBI INTEL CONTACT
Now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.
The Central Bank of Iraq decided to close the Babylon Bank.
According to a document issued by the Central Bank of Iraq, addressed to the Babylon Bank, and received by “Al-Eqtisad News”, it decided to “refer the bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.
He added: “Appointing Ahmed Abdul Mahdi Nehme as liquidator of your bank.”
(This is the US Treasury inside Iraq as the strong arm to enforce Iraqi banking laws, something that was difficult for the CBI to do without repercussions from political members who used the banks to steal. So, now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.)
EXCERPTS FROM MARKZ MZ : Redemption folks are working this weekend. They may just be closing out their wealth management for the year… Memb...