Friday, October 11, 2024
Minister of Finance stresses the need to adhere to timetables to achieve economic reforms, 11 OCT
Minister of Finance stresses the need to adhere to timetables to achieve economic reforms
Finance Minister Taif Sami Mohammed stressed, on Thursday, the need to adhere to timetables to achieve economic reforms.
A statement by the ministry, seen by Al-Eqtisad News, stated that "Minister of Finance Taif Sami Mohammed chaired a meeting to follow up on the implementation of the government program related to financial, economic and digital affairs, where she reviewed the latest developments in the plans and procedures adopted by the government to achieve economic and financial reforms and discussed the challenges facing the implementation of the program."
The minister stressed, according to the statement, "the importance of adhering to the specified timetables and achieving the desired goals in enhancing economic stability."
The statement added that "the meeting addressed the most prominent economic and financial indicators, and reviewed the results of the reforms that have been completed so far, in addition to discussing ways to accelerate the pace of reform in vital sectors. Sami stressed the need for cooperation between all parties to achieve sustainable development and improve the standard of living for citizens."
The statement concluded by saying that "the minister urged the concerned parties to continue working hard and intensifying efforts to ensure the success of the reform program and achieve sustainable economic growth link
RV UPDATE BY WALKINGSTICK, 11 OCT
Walkingstick
[Aki Iraqi bank manager friend in U.S update]
I have just been given my latest orders. I am being told to stay close to home. I will not be able to go to Thanksgiving...Christmas with my friends.
My orders tell me that I am to stay here in Dearborn.
The CBI bank is going to make us very busy during these holidays.
We are having a lot of Iraqi citizens coming into our banks here...They...are talking to us about the same thing you are asking us.
They found out they're going to get their HCL. They found out about the cards.
They want to know how they're going to get their retirement money outside of Iraq. They also what to know if they will also be able to receive the new lower notes.
https://dinarevaluation.blogspot.com/2024/10/intel-from-aki-iraqi-bank-manager.html
Walkingstick
Question: "Are the new [Iraqi bank cards] based on the new exchange rate?"
Yes.
Walkingstick
They [Iraq/CBI] are no longer under the umbrella for the US Treasury nor are they under any sanctions.
That's nice!
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Walkingstick
I strongly believe we need Alaq to finish what he's doing [In New York and Washington], come back...to Baghdad and bring the REER - Real Effective Exchange Rate to Iraq.
We believe this is the next step because of what Sudani told the Iraqi citizens.
IMO the commercials are the next thing that they're going to show them. IMO the commercials are already produced...They will be released to the public. When Sudani said the monetary reform is coming to an end...that's a big hint...That's what we in intel call a big clue.
Walkingstick
All the executive levels of the banks in Iraq are going to sit down with the governor of the CBI Alaq and receive instructions on the new currency next week.
Walkingstick
They got stability and security. Sudani has been bragging about it...Lift the three zeros has to do with the value, then not with the value, back and forth, back and forth, it has to do with the value and then, no it doesn't have to do with the value. The articles are contradicting.
They are lies. They are misleading with a purpose.
Walkingstick
Article: "Two conditions to achieve it .. Al-Sudani's advisor rules out removing 3 zeros from the currency"
These articles, this misleading, is intentional right now...Contradicting statements are found throughout all of these statements, all of these articles...The 25 note has to become a 25k note?
There isn't even a 25 note...When did Iraq last have a 25 note? Never.
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Walkingstick
[Iraqi bank friend Aki update]
Question: You're asking us why we are not talking to you about these [lower note] commercials. Can you tell us more about them?
AKI: Yes, they are coming out. This is the media campaign we told you about. It's getting faster and faster and louder and louder.
The purpose is to show the citizens the new lower notes and more information.
These commercials are coming out at any time now...Nothing is in the way to block this next step. It is a massive media campaign.
[[Iraqi bank friend Aki update]
New York is to remove the red tape that the United Nations is still holding on the banks of Iraq that are not participating in the monetary reform.
These sanctioned banks may stay sanctioned or be shut down completely.
It really doesn't matter to the monetary reform process but this is something that is needed to be done.
https://dinarevaluation.blogspot.com/2024/08/lower-notes-yes-they-are-coming-out-by.html
We will not wait for companies, we will act, 11 OCT
We will not wait for companies, we will act
Baghdad reaches an understanding with the Doha Stock Exchange: Iraqi shares will be able to be traded in Qatar as well
The Iraqi Securities Commission revealed a project with the Qatar Stock Exchange that will allow for the joint establishment of companies, leading to “dual listing” that will allow the listing of Iraqi shares in both the Iraqi and Qatari markets.
The commission member, Wadah Al-Taha, said that it will not wait for major and promising companies to list their shares on the Iraqi Stock Exchange, but will form a committee to encourage those companies. He pointed out that expanding the Iraqi Stock Exchange requires the listing of government sector companies on the stock exchange.
Waddah Al-Taha - Member of the Board of the Securities Commission, in an interview with the media figure, Dhikrayat Muhammad:
Expanding the work of the Iraq Stock Exchange requires restructuring mixed companies, through the government sector relinquishing its shares and listing and offering them for investment, while we work on listing public government companies.
Usually, stock markets around the world represent a mirror of a country’s economy, but in Iraq, the stock market does not reflect the economy, for several reasons, including the weakness of the investment culture, the decline in government support and understanding, in addition to the fact that the importance of listing and initial public offerings is unclear to private sector companies.
We seek to “deepen” the Iraqi Stock Exchange, meaning diversify its sectors participating in the subscription, with the aim of reducing the ceiling of investment risks and creating relative attractiveness for investors. We are currently working on merging our governance draft with the draft of the International Finance Corporation to give a global character to our investment environment and send reassuring messages to foreign investors.
Instead of waiting for promising emerging companies to come to the Iraqi market for listing, we are currently working on forming a specialized committee to move towards such companies and reach an understanding with them in order to list their shares in the market. The criteria for selecting the targeted companies revolve around performance, financial efficiency, company history, sector quality, and management nature.
We have a memorandum of understanding with the Qatari side, and we hope to approve it during the coming period. It has very good content, as it allows us to establish companies jointly, and we aspire to reach the stage of “dual listing” where the Iraqi stock can trade in the Iraqi and Qatari markets, in addition to applying the regulatory standards in effect there.
We apply a high level of “global standard” procedures in terms of combating money laundering. The market is very safe in this regard. Our standards are sometimes harsh and restrictive for investors, but they ensure that there are no illegal financial activities. link
IRAQ BOOTS ON THE GROUND REPORT BY FIREFLY, 11 OCT
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Television is showing there was meetings going on. These meetings are every day.
They say there was Sudani who had his meeting with his Finance Minister and all of the lead bank officials and with the audit companies.
FRANK: Sudani meeting with the powerhouse of his monetary reform.
FIREFLY: It looks like Sudani is crossing all of his T's and dotting all of his I's one last time!
https://dinarevaluation.blogspot.com/2024/10/rv-update-by-firefly-9-oct.html---
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FIREFLY:They are telling us deleting zeros and enhancing value. We never heard this before.
FRANK26: This is extremely impressive in the way the monetary reform is coming to you faster.
We predicted this. It's good to see it happening.
https://dinarevaluation.blogspot.com/2024/10/they-are-telling-us-deleting-zeros.html
TIDBIT FROM FRANK26, 13 NOV
Frank26 The monetary reform policy is being introduced to you Iraqi citizens on a daily basis isn't it. It's is my hope. It ...
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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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JENTEL RV UPDATE RV NEWS- AA Uriel Payments are being received. They started yesterday in other countries. To meet today's requireme...