A new [financial] system that is fast and effect - digitally. Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders. From here on out a different playing field, a digital playing field. I think that's where we are. I think it's really powerful information
If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!
Tishwash: keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar but this is definitely interesting
Most private banks closed, fears of liquidity crisis amid citizens’ anger
Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity.
This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.
The banks that have closed their doors include:
World Bank
Ashur Bank Babylon
Bank
Al Ansari
Bank Middle East
Bank Al-Qabeed Bank
Noor Iraq
Bank Trans Iraq
Bank Al-Huda
Bank Mosul Bank
As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:
National Bank,
Baghdad
Bank, Development
Bank, Al-Nasik Bank
, Bank of the South,
United Bank,
Union Bank,
Al-Tayf Bank
The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches. link
MarkZ: I do not believe our goal posts are moving…I believe things are funneling quickly in the right direction.
“Al Rafidain: More the 4 Trillion dinars electronic collection amounts for government departments" this is a marked improvement to the government...
a big increase in revenue from getting rid of graft and inefficiency by using electronic systems. They are very much streamlining their government. This has made a massive difference in stability in Iraq.
Central Bank of Iraq: All employees must open bank accounts before the end of March 2025
Today, Sunday, October 6, 2024, a number of employees of the Kurdistan Region received their salaries for the month of August through the "Hesabi" banking project.
In this context, an informed source in the Central Bank of Iraq told Kurdistan 24 that the agreement concluded between the Kurdistan Regional Government and the federal government obliges all employees to open bank accounts.
The source confirmed that employees who do not open a bank account and do not register in the "Hesabi" project until March 2025, will not be able to receive their salaries.
The source explained that there is no difference between the Iraqi localization project and the bank account project, as both come in response to the request of the US Federal Reserve.
He stressed the need for all employees to have bank accounts, with the aim of reorganizing the financial and banking sector in Iraq and the Kurdistan Region.
This comes at a time when 132,000 employees in the Kurdistan Region are preparing to receive their salaries for the month of August through the "Hesabi" project within three days. Today, 40,000 employees received their salaries, with another 46,000 receiving their salaries on Monday and another 46,000 on Tuesday. link
“Al Rafidain: More the 4 Trillion dinars electronic collection amounts for government departments" this is a marked improvement to the government...a big increase in revenue from getting rid of graft and inefficiency by using electronic systems. They are very much streamlining their government. This has made a massive difference in stability in Iraq.
..Chase always saying they have nothing to do with Iraq…but in the meantime they are opening 10 branches in Iraq while working with them to update their banking system.
