Monday, September 30, 2024
"YOU WANT TO SWAP ALSO?" BY FRANK26, 1 OCT
KTFA
FRANK26: "YOU WANT TO SWAP ALSO?"......F26
Central Bank Governor meets Spanish Ambassador to Iraq
The two parties discussed opening channels of communication between the Central Bank of Iraq and the Spanish Bank in a step aimed at enhancing cooperation with the Spanish side in all economic fields, most notably cooperation in the banking sector.
Media Office
September 30, 2024
RV UPDATE BY PIMPY, 1 OCT
Pimpy
Article: "Thousands of protesters trying to storm US embassy is Baghdad after Nasrallah killing"
Iraqi protesters are trying to storm the US Embassy in Baghdad...
How does that affect Iraqi dinar holders?
The last thing you need is for there to be an unstable country with protesters tying to storm the US Embassy...
"MOST BANK SANCTIONS ARE BEING LIFTED NOW FOR THE MR". BY FRANK26, 1 OCT
KTFA
FRANK26: "MOST BANK SANCTIONS ARE BEING LIFTED NOW FOR THE MR"......F26
Al-Haims expects lifting of "sanctions" on Iraqi banks: No violations proven
9/30/2024
The Chairman of the Securities Commission, Faisal Al-Haims, confirmed that foreign auditing companies have not proven any violations against the sanctioned Iraqi banks, expecting the US sanctions to be lifted, especially after the Prime Minister’s recent visit to New York.
Al-Haims said, in a televised interview, which was viewed by “Al-Eqtisad News”, that “the Iraqi market needs a banking sector with global compliance standards in order to ‘survive’”, stressing that “the commission aims to increase the number of stock traders by 500%.”
He continued: "We were recently granted the authority to open new branches of the Iraq Stock Exchange, and we agreed to open two new branches in the governorates of Erbil and Sulaymaniyah. We are open and seek to expand the market's spread base and we will agree to any request to open a new branch if the legal conditions are met."
The Chairman of the Securities Commission confirmed: “We are working on promotional campaigns to introduce the function and benefits of investing in the Iraqi Stock Exchange, and the investment sectors in it as well, although the current efforts need greater momentum, but we seek to develop an effective strategy to increase the number of investors in the Iraqi Stock Exchange to 5 times their current number of more than 40 thousand investors, during the next two years.”
He pointed out that "foreign auditing companies have not proven any violations against the sanctioned Iraqi banks, and this is sufficient to lift the Federal sanctions, and we hope that the Prime Minister's visit to the United States will contribute in this direction."
He explained that "the Iraqi economy depends entirely on oil revenues and imports to meet local needs, which confirms the difficulty of living without an effective banking sector, and therefore there is no choice but to create a real banking movement that applies international compliance standards."
He explained that "there is a credit problem in private banks, as customers prefer government banks, despite the big difference in the quality and volume of services provided at the level of deposits and borrowing. However, the government banking sector takes over more than 70% of customers."
RV UPDATE BY BRUCE, 30 SEPT
Bruce
[via WiserNow] ...we are hearing...coming from Iraq, that they will have their smaller denominations ready to go...
I don't think they have ones, but five – 10’s, 20s, 50s, and 100’s that's their new currency...the three zero notes from Iraq that we have...the 25,000 or 25k notes?
...the 10k, the 5k, the 1k – all of those 3 zero notes have been removed from Iraq...that should be done by the 30th this month, the last day of this month.
