RV UPDATE BY MNT GOAT, 5 OCT

 

"THEY ARE SAYING ON TV THAT " IRAQ IS PLANNING ON A CURRENCY REDENOMINATION" BY FIREFLY wow @ DINARREVALUATION

 

https://youtube.com/shorts/ZAlMQPjvr_A 

@DINARREVALUATION YOUTUBE CHANNEL

Iraq Rethinks Bank Merger Plans, 5 OCT

 Iraq Rethinks Bank Merger Plans

Iraq's Cabinet has revised an earlier decision to merge its Agricultural, Industrial and Real Estate Banks.

At the start of 2024, the Cabinet approved a contract with UK-based professional services firm Ernst & Young (EY) to study the merger of Industrial Bank, Real Estate Bank, and Agricultural Bank [Agricultural Cooperative Bank?] into a single entity, with Ernst & Young providing expertise and recommendations, and determining the time period required for the merger and the mechanism for transferring balances to the new bank.

The decision this week means that only the Agricultural Bank and the Real Estate Bank will be merged, while the Ministry of Finance has been tasked with converting the Industrial Bank into a joint-stock company.

A statement from the Prime Minister's Office confirmed that Ernst & Young will assess the Industrial Bank's assets, and the existing contract with EY will be amended to include these changes.

Additionally, the Cabinet approved a 500 billion dinar [$382 million] capital increase for the Trade Bank of Iraq (TBI), sourced from its profits. link

RV UPDATE BY WALKINGSTICK, 5 OCT

 Walkingstick 

 [Response to Guru Frank's Firefly report below] 

You put a mic in front of these parliament  politicians and they instantly become economic experts...This is basic math.    

 Frank26   

[Iraq boots-on-the-ground report] 

  FIREFLY: On the news Alaq came in and talked again about the deletion of the three zeros and he said we have a process to enhance the dinar.   He was explaining how they are going delete the three zeros and add value...Then this idiot comes on TV and he says to us dropping the zeros will not lead to a value increase.  He's just a fool that hates this is happening.  That's all Alaq talked about, again saying it's under constant review. 

 FRANK:  As far as the guy that comes out and says this is not good, that's it's negative...this is not being sent to you by Sudani...Don't pay attention to them.  Only pay attention to your true leader Sudani.

DINARLAND UPDATE: EXCERPTS FROM TNT & BRUCE TODAY @DINARREVALUATION

The Governor of the Central Bank receives the Turkish Ambassador and representatives of Turkish bank branches in Iraq, 5 OCT

 The Governor of the Central Bank receives the Turkish Ambassador and representatives of Turkish bank branches in Iraq

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received the Ambassador of the Republic of Turkey to Iraq, His Excellency Mr. Anil Bora Inan, with a delegation of representatives of Turkish banks operating in Iraq.

The meeting coincides with the launch of financial transfers to Turkey, according to a new mechanism in euros and implemented within Turkey through its banks. This mechanism, which is being implemented for the first time, will simplify trade coverage operations with high fluidity and speed.

The attendees discussed ways to provide the requirements of the new mechanism; in order to make it a success and accommodate the large number of remittances from merchants and the business sector.

The bank representatives expressed their readiness to implement the new mechanism and provide the regulatory and supervisory requirements in coordination with the international auditing company. They also highlighted their efforts in expanding their channels with approved correspondent banks.

His Excellency the Ambassador praised the efforts of the Central Bank in managing the process of transformation in external transfers, and the measures taken by the bank to organize and facilitate transformation operations, praising his meeting with the Governor of the Central Bank of Iraq and the continuous and direct coordination between the Central Bank's management and authorized banks.

Central Bank of Iraq 
Media Office 
October 3, 2024  link

RV UPDATE BY FRANK26, 5 OCT

 Frank26  

The security and stability of the monetary reform of Iraq is at its pinnacle and its is going to protect this new exchange rate and the new lower notes.

Frank26

   Protesters...are Iranian...they infiltrate Iraq because of what's going on.  They want money.  They don't want to lose Iraq so they try to protest and they try to create chaos, they try to slow things down.  They want to retard the process.  It's not working.  I don't think it's going to work...

  Question:  "Can you please share some details about why you stated that those in California will have to know what they are doing [when the time comes to exchange]?"  Because you got a bad government there...

They go with policies that are illogical let alone indecent...Yeah, California taxes are going to be insane.

https://dinarevaluation.blogspot.com/2024/10/rv-update-by-frank26-3-oct.html