ADVISOR TO THE PRIME MINISTER: ELECTRONIC PAYMENT PROCEDURES CONTRIBUTED TO PRESERVING THE STABILITY OF THE IRAQI DINAR, 4 OCT

ADVISOR TO THE PRIME MINISTER: ELECTRONIC PAYMENT PROCEDURES CONTRIBUTED TO PRESERVING THE STABILITY OF THE IRAQI DINAR

Advisor to the Prime Minister and Chairman of the Supreme Committee to Support the Iraqi Dinar, Qasim Al-Dhalimi, announced today, Tuesday, the committee’s success in restoring the citizen’s confidence in the dinar, while indicating that it provided mechanisms to preserve the solidity of the dinar and the financial bloc.

 

Al-Dhalimi told the Iraqi News Agency (INA): “The Supreme Committee to Support the Iraqi Dinar worked on how to restore the citizen’s confidence in the dinar, and to make the main link between him and the source of his money and how the citizen connects the dinar to the solid Iraqi banks, and how to deal with it electronically,” indicating that “the committee worked on many important joints.”

He added that “the citizen wanted to know the extent of interest in dealing with the government or private bank by depositing his money, and how to find real mechanisms to support the dinar by balancing it with other foreign currencies,” noting that “there are mechanisms proposed by the committee on how electronic payment can be one of the features that preserve the solidity of the dinar, and preserve the financial mass within the banks, and for the citizen to be the first and last beneficiary and the process of electronic organization, so the committee sought to achieve financial security and stability in the government program.”

RV UPDATE BY BRUCE, 4 OCT

  Bruce

 “The information last night was pointing toward today in a 24 hour period for the shotgun start. Well so far we have not received the notifications but the intel was really good  – it’s all done and now prospects of this going over the weekend are really strong.”

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EXCERPTS FROM BRUCE

In some cases, they'll use a silent or something different. But point is, it's a simultaneous start. Now what we're hearing about a shotgun start is pretty interesting, because we could get a true, shotgun  start, or it could be a slightly staggered start - 

 here's what I mean by that, the bond holders are supposed to be notified over night tonight or tomorrow morning, and that notifies them that They have money in their accounts, and they can begin gaining access to those funds in their accounts.

Now we are in a different situation because the bond holders for the most part have already ponied up their bonds, had them adjudicated, had them, you know, gone through provenance and all that stuff, and they set up their accounts already,

so it's just a matter of them getting access to the funds in their accounts. That's tier three. We're in tier four, and we've divided it into tier four, A and B, but Wells Fargo,  sees it all as tier four, all right, that's fine.

In our case, we’re hearing we're supposed to be notified overnight, tonight or tomorrow.

https://dinarevaluation.blogspot.com/2024/10/excerpts-from-bruce-4-oct_01666374279.html

EXCERPTS FROM MARKZ : BANKS SCREEN SHOWING IQD RATE OF $3.57@DINARREVALU...

"THEY PREPARE THE NEW EXCHANGE RATE TO FLOAT." BY FRANK26, 4 OCT

 KTFA

FRANK26: "THEY PREPARE THE NEW EXCHANGE RATE TO FLOAT.".........F26

Verification procedures

October 01, 2024

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Based on the supervisory and regulatory role of this bank, and in order to enhance the process of external transfer through official channels, it was decided that all licensed banks will implement external transfers for companies .  For more , click here .

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https://cbi.iq/news/view/2682

RV UPDATE BY FRANK26, 4 OCT

 Frank26 

 They say that they wanted this monetary reform to be done at the beginning of the year, remember? 

 Unfortunately no, they weren't ready.  But they sure are ready now.

[Response to Guru Clare's Article post below]

 IT REALLY DOESN'T MATTER WHAT THE ARTICLES SAY CONCERNING POSITIVE  VERSUS NEGATIVE. 

WHAT IS EXTREMELY IMPORTANT IS THAT THEY ARE TALKING ABOUT THE LIFTING OF THE EXCHANGE RATE THAT IS THE POINT THAT  IS THE KEY WHETHER IT BE FOR OR AGAINST IT THEY ARE TALKING ABOUT IT BECAUSE IT IS REAL!    

https://dinarevaluation.blogspot.com/2024/10/they-sure-are-ready-now-by-frank26-2-oct.html 

Frank26 

  They tell you [Iraqi citizens] there is an imminent change coming to your currency almost every day now.  That is very exciting.  These are the words we've only dreamed about in the last 5 years.  

To see them almost every day is rather shocking but very exciting right now...This is getting crazier and crazier every day with so much excitement and so much information about the monetary reform being sent directly pinpointed to you Iraqi citizens from Sudani.

They're giving them a date of when they're going to stop the auctions, the window.  Now they tell them we're lifting three zeros, you're getting purchasing power.

  They tell them you're getting the HCL.  Then they go a step further and they said our currency is going to be stronger than the Jordanian dinar...It's going to be more than Jordan's currency...I believe they're going to reach the REER through the float at around $4.25...

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 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?

  No it's not...That going international requires a new exchange rate.  Yes it does.

https://dinarevaluation.blogspot.com/2024/09/rv-update-by-frank26-28-sept.html

DINARLAND UPDATE: EXCERPTS FROM TNT & BRUCE TODAY @DINARREVALUATION

Central Bank comments on preparing the budget for next year, 4 OCT

 Today, Thursday, the Iraqi Central Bank offered its thoughts regarding the preparation of the upcoming budget.

“The government must prepare the budget for years based on the average price of a barrel of oil, not for each year,” Central Bank Board Member Ahmed Brihi stated.

“Even if the price of oil reaches $50, this measure prevents the Iraqi economy from being affected,” he explained.

“Countries whose economies depend on these commodities, including Iraq, must adapt their financial base according to these changes,” he continued. “It is well known that the prices of oil, minerals, and strategic agricultural materials are always changing.”

“Since Iraq’s economy still depends on oil by more than 90%,” he continued, “it must prepare its budgets based on the average price of a barrel of oil for a long period of time rather than for each year.”