DINARLAND UPDATE: THE RV WILL OCCUR AFTER THE NOV 5TH VOTING @DINARREVAL...

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week, 18 OCT

Iraq Stock Exchange: Trading Exceeds 18 Billion Dinars In October Week

10/17/2024  Mawazine News – Economy  The Iraq Stock Exchange announced today, Thursday, that shares worth more than 18 billion dinars were traded during five sessions this week, which is the third week of October.

According to market indicators, the number of shares traded during this week exceeded 19 billion shares, with a financial value exceeding 18 billion dinars.

The ISX60 market trading index closed at 970.86 points in the first session of the week, while it closed at the end of the week at 988.86 points, achieving an increase of 2.80% over its closing at the beginning of the week.

The ISX15 market trading index also closed at 1060.47 points in the first session of the week, to end the week at 1074.75 points, achieving an increase of 1.33% over its closing at the beginning of the week.

During the week, 4783 buy and sell contracts were executed on the shares of companies listed on the market, reflecting a noticeable activity in  trading. https://www.mawazin.net/Details.aspx?jimare=256036

Coffee with MarkZ. 10/17/2024

Thank you MarkZ for all your time, and encouragement daily….. PDK

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Good Morning and Hope Springs Eternal!!

Member: Well I hope today is our day!

Member: [blink blink] it’s Thursday already over half of October gone. Time flies when you’re not having fun, lol.

Member: The RV feels like a buddy waiting to ask his girl to marry him … quit dragging your feet, and do it already.

Member: Mark, what is the good word for today?

MZ: “Iraq Parlianment expects to vote on Economic Reform laws soon” 

Member” “Soon” is a 4 letter word.

MZ: This has to do with the Industrial investment law, and to me this is very important and one of the clear signs that we saw in their “white papers”. They are spelling out everything they have to do to support a higher rate.  They are doing the economic reforms to support this higher rate and lift up all Iraqis. 

Member: Wondering how many steps are in Iraq before the process is done and we can RV?

MZ: “ Today Kurdistan government announces September salary payments”  they used to be a year or 6 months behind…but now in October they announce paying September salaries. To me this means money is moving. This is n HCL requirement that is happening. I think HCL is done and they are hiding the announcement. 

MZ: “Finance launches third issue of Injaz government bonds for public subscription”  these are all brand new investment bonds in Iraq. It has a heck of an interest rate and stays denominated in IQD. The first round was only for Iraqi citizens but now it looks like this round is open to all others. I am hoping we have a revaluation before the bonds can be purchased 

Member: The Injaz/Enjaz will be available April 15th through May 15th. interesting timing

Member: Any historic bond news or is it quiet as usual?

MZ: No money movement yet….some of the other bond holders had to put together more paperwork and are scheduled for next week. These are bonds that are other than the German bonds. We ned them to start seeing real spendable money. That will be when we start celebrating  

Member: I think  all the silent bond holders are under a nda possibly?

Member: How many times do they need to update paperwork and get put out another week?? Sounds like a big circle jerk session to me.

Member: They are supposedly working on German bonds now…Mark is talking about other bonds like Asian bonds and Zim bonds for next week. 

Member: Mike Bara thinks maybe Iraq will go alone at first

Member: Iraq may be sick and tired of waiting on the rest of the world ….I sure am 

Member: Re Mike Bara intel. If we go cash in Dinar/Zim if GCR doesn’t go…can we still redeem the other currencies when they go?

Member: Question: If Iraq goes first, will we be able to get SKR’s for our other currencies in advance of a GCR?

Member: If Iraq goes alone, can we just go to bank and cash in our Dinar and still be allowed to go to Redemption Center when the rest go?? Like Zims, Dong, etc. I don’t want to jeopardize things.

Member: you can go twice if they revalue at different times.

Member: I would be excited if Iraq went alone…..It would give all of us relief and make the rest of the world “hurry up” to catch up…..imo 

MZ: I still believe all currencies are going together. 

Member: (From dinar Guru)Guru Mnt Goat  Iraq is going to experience a “redenomination” of their currency meaning to execute the process of swapping out larger three zero notes for newer...lower denominations ...when you take money out of circulation...You cause deflation, which is revaluing your currency or making it worth more. There is also all the other assets and variables involved that will FORCE the system to bring back the dinar to its nominal value, finally. They are...doing this redenomination...to “normalize” their currency back to their “normal” denominations, as before the sanctions took place. They will also need a “normalized” rate and not this current “suppressed" rate...

MZ: Yes….spot on

Member: Last night, Frank said the first payroll is retro back to Feb thru August at the old rate, the second (possibly two weeks later?) is supposed to be at the new rate...

MZ: It could be….but to me it makes more sense to pay them at the old rate and then change the value. 

Member: Did iraq just open a dinar redemption center?

MZ: They opened “deposit only” banking locations  to deposit cash in for the electronic banking system. The Iraqi people have more faith in the banking new banking system that is effective and efficient and cleaning up corruption from businesses. They can trace every transaction. And when the value changes…they don’t have to rush to the banks. 

Member: I recently heard to expect the RV between the 22nd and 26th of October

MZ:  Based on what I am hearing out of the bond side…that makes sense. 

Member: it is getting real ppl, get ready if you are not already

Member: Let's get this RV party started

Member: Thank you Mark for being a beacon of positivity .

World Court Greenlights Iraq's RV: What It Means

Starting From Rafidain Bank.. Al-Sudani Stresses The Importance Of The Banking Sector Reform Project, 18 OCT

 Banks  Economy News – Baghdad  Prime Minister Mohammed Shia Al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors.

The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani chaired a special meeting on efforts related to developing the work of the government banking sector, in the presence of representatives of Ernst & Young for auditing and financial consulting."

During the meeting, "a package of recommendations was presented by the company to proceed with the reform of Rafidain Bank, which included the new legal status of Rafidain Bank, its capital, its work strategy, and the new consultant who will work with the bank to meet the global requirements for modern banking. These recommendations will be presented to the Ministerial Council for the Economy, which will then submit them to the Council of Ministers for approval."

He explained that "the subject of restructuring Rafidain Bank is the first step in the government's banking reforms, which have been given special attention to follow up on all reports related to it, submitted by the relevant authorities, especially by the committee concerned with the restructuring process."

The Prime Minister stressed "the importance of the banking sector reform project, which began with Rafidain Bank, pointing out the work to provide a bank with specifications and standards through which problems can be overcome and confidence given to citizens, in addition to enhancing cooperation with local and foreign investors."  https://economy-news.net/content.php?id=48839

DINAR REVALUATION UPDATE , 18 OCT

 DINAR REVALUATION UPDATE

Summary

Iraq’s upcoming industrial investment law aims to boost the economy and strengthen the dinar through reforms and increased IMF reserves.

Highlights

• 📈 Upcoming parliamentary vote on the industrial investment law is crucial for Iraq’s economy.
• 💼 The law aims to attract domestic and foreign investment to diversify away from oil dependence.
• 💵 Reforms are intended to support a higher exchange rate for the Iraqi dinar.
• 📊 Recent white papers outline measures for transparency and effective governance to stabilize the economy.
• 🌍 Iraq’s IMF quota increased by 50%, enhancing its financial position and stability.
• ⏳ Timely salary payments in the Kurdistan region reflect improved financial management and economic health.
• ⚖️ Completion of the hydrocarbon law is essential for equitable revenue distribution and regional stability.

Key Insights

• 📈 Significance of Industrial Investment Law: The upcoming vote on this law symbolizes a shift towards economic reform, aiming to stimulate growth and attract investment, crucial for Iraq’s recovery.
• 💼 Diversification Strategy: By encouraging investment in sectors beyond oil, Iraq can stabilize its economy and create jobs, reducing vulnerability to oil price fluctuations.
• 💵 Currency Strengthening Efforts: A stronger dinar will enhance purchasing power and reduce inflation, aligning with the government’s goal of economic stability through strategic reforms.
• 📊 Importance of Transparency: The white papers emphasize good governance as fundamental for investor confidence, indicating that Iraq is serious about implementing necessary reforms.
• 🌍 Increased IMF Quota: Boosting Iraq’s quota at the IMF not only signifies improved financial health but also facilitates access to essential funding for ongoing reforms.
• ⏳ Kurdistan Region’s Progress: Timely salary payments signal better financial management, which can stabilize the economy and improve public services in the region.
• ⚖️ Hydrocarbon Law’s Role: The successful implementation of the hydrocarbon law is pivotal for a fair distribution of oil revenues, fostering stability and collaboration between the federal government and the Kurdistan region.

INTEL FROM A FRIEND THAT WORKS WITH THE TREASURY CONTRACTOR BY GOLDEN ERA @DINARREVALUATION