Friday, September 27, 2024
"SUDANI BRAGS ABOUT HIS NEW MONETARY REFORM!!!" BY FRANK26, 28 SEPT
KTFA
FRANK26: "SUDANI BRAGS ABOUT HIS NEW MONETARY REFORM!!!"......F26
Prime Minister: The government has made great strides in the financial and banking reform file
9/24/2024
Baghdad
Prime Minister Mohammed Shia al-Sudani confirmed today, Tuesday, that the government has made great strides in the financial and banking reform file.
The Prime Minister's Media Office stated in a statement received by "Al-Eqtisad News" that "Prime Minister Mohammed Shia Al-Sudani received the US Deputy Secretary of the Treasury, Wally Adeyemo, and a number of officials in the Ministry of Treasury."
He added that "the meeting discussed bilateral economic relations between the two countries in various vital sectors, reviewed the government's efforts and plans for economic and financial reform, the move towards diversifying sources of Iraqi output, enhancing development targets, and practical measures implemented in the field of combating money laundering."
The Prime Minister stressed that "the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform," noting that "less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and commitment to raising the capabilities of Iraqi banks, in line with international standards and meeting the needs of the thriving
investment environment in Iraq."
For his part, Adeyemo praised "the progress that Iraq is witnessing in the field of economic and banking reforms that were achieved in
record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development."
RV UPDATE BY FRANK26, 28 SEPT
Frank26
Article: "The government forms a higher committee to adapt Iraq banks to International financial requirements" What does that mean? It means the Iraq dinar is going to float internationally in international markets.
But it's at a program rate?
No it's not.
But it has sanctions on the country?
No it doesn't. Wells Fargo says it's on the OFAC list,
that it's on the 'bad currency' list?"THE KEY TO THE MONETARY REFORM IS SECURITY & STABILITY FROM THE CBI AUCTIONS & IRAN!!!" BY FRANK26, 28 SEPT
KTFA
FRANK26: "THE KEY TO THE MONETARY REFORM IS SECURITY & STABILITY FROM THE CBI AUCTIONS & IRAN!!!"...........F26
Iraq presents to US Treasury date for abandoning currency auction
9/24/2024
Economy
The Prime Minister informed Mohammed Shia Al-Sudani, US Treasury Department, keeps only 5% of remittances Foreign It is not done through the electronic platform, and it will be completed by the end of this year, then the transition to correspondent banks.
Al-Sudani stressed that "the government has made great strides in the financial and banking reform file, and 95% of bank transfers have been completed through the electronic platform, and less than 5% remains to be completed by the end of this year, after which the transition to the correspondent banking system will take place, in accordance with the government's approach and its commitment to raising the capabilities of Iraqi banks, in line with the standards."Global It meets the needs of the thriving investment environment in Iraq For his part, Adeyemo praised the “progress being witnessed by Iraq In the field of economic and banking reforms that were achieved in record time, and the state of economic growth that reached a total of about 6%, which enhances the government's efforts in development, expressing readiness to cooperate and work within a bilateral partnership that serves the interests of economic development," according to the statement.
"$0.47 -$3 THE VIETNAM DONG" BY MARKZ, 27 SEPT
MarkZ
[via PDK]
Member Question: ...VND, IYO, will IT be higher than $.47?
MARKZ: Most rumors put the rate somewhere around $2.25 to $3 or so…. But we don’t know that answer for certain.
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“Iraq Plans Currency Redenomination amid economic challenges” they are talking openly about redenomination…deleting the zeros or make them unnecessary and remove them…and we are seeing this over and over again. Kuwait used the exact same language..
Question: Can you talk about the rate changes bankers were seeing...?
MarkZ: Most of what my bankers saw... they think is a little low. Could be a place holder rate or a test rate or in-country rate…but they are once again starting to see rates that are close to what we expect.
US Officials: “United States is not Withdrawing from Iraq’, 28 SEPT
WASHINGTON DC, United States (Kurdistan 24) “To be clear, the United States is not withdrawing from Iraq,” a senior administration official...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...