DINAR REVALUATION

Tuesday, October 29, 2024

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The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq, 29 OCT

The Central Bank republishes controls on the declaration of funds and their entry or exit from Iraq

Baghdad Today – Baghdad

The Central Bank of Iraq, on Tuesday (October 29, 2024), re-published the controls on the declaration of funds, indicating that it allows the entry or exit of amounts below $10,000.

The bank said, according to a statement received by Baghdad Today, that in order to reduce the risks of entering and taking out funds across the Iraqi border and exploiting this in money laundering or financing of terrorism, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended to Regulations No. 1 of 2017), the following should be adhered to:

1. It is allowed to enter or take out amounts of less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.

2. It is allowed to enter or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the need to show what supports the purpose of entering or taking out these amounts. In the event that supporting documents are not available, the traveler shall submit a pledge to bring those documents after (30) days from the date of the permit.

3. It is forbidden to enter or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or taking out these amounts through financial institutions is exclusively.

4. It is forbidden to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they have been declared, and the amount is seized and legal procedures are taken against it. 5 Declaration of precious stones and precious metals if its value exceeds (10,000) ten thousand US dollars 6. Declaration of negotiable financial instruments to the bearer or transferred inside or outside Iraq through a person, postal service, shipping service or any other means whose value exceeds (1,0000) ten thousand US dollars.

https://baghdadtoday.news/260953-البنك-المركزي-يعيد-نشر-ضوابط-التصريح-عن-الأموال-وإدخالها-أو-إخراجها-من-العراق.html

NADER FROM MID EAST CC NOTES HIGHLIGHTS, 29 OCT

NADER FROM MID EAST CC NOTES HIGHLIGHTS

Summary

Iraq has attracted $100 billion in investments over two years, including a $5 billion deal with Egypt’s Eli Electric to develop industrial cities.

Highlights

💰 Iraq secures $100 billion in investments over two years.
🤝 $5 billion agreement signed with Egypt’s Eli Electric for industrial cities.
🏗️ Focus on advancing industrial and educational infrastructure.
📈 Joint investment fund established to promote smart industry and education.
🌍 New economic city aims to attract local and international investors.
📍 Potential locations assessed in Central and Southern Iraq.
👷‍♂️ Project expected to create jobs and diversify the economy.

Key Insights

💵 Significant Investment Growth: Attracting $100 billion signals strong investor confidence in Iraq’s economy, paving the way for future growth.
🇪🇬 International Collaboration: The partnership with Egypt’s Eli Electric underscores Iraq’s commitment to international cooperation in economic development.
📚 Focus on Education and Industry: Prioritizing educational infrastructure alongside industrial development indicates a long-term strategy for sustainable growth.
💡 Innovation through Smart Industry: The establishment of a joint investment fund aims to nurture advanced technologies, which could enhance Iraq’s competitiveness.
🌆 Economic City Development: The plan for a new industrial city highlights Iraq’s strategic approach to creating hubs that attract diverse investments.
🗺️ Geographic Diversification: Assessing locations in Central and Southern Iraq aims to ensure equitable economic benefits across regions.
📈 Job Creation Potential: The project is expected to generate employment opportunities, contributing to economic diversification and stability..

LATEST UPDATE FROM DINARLAND @DINARREVALUATION

"THEY ARE TESTING THE SYSTEMS WITH THE WHALES" BY DR. TOM , 29 OCT

Dr. Tom

Sunday Oct. 27, 2024

We were told a few days ago that the final filing was made with the world courts, the US Treasury and the Department of Defense and the first wave of funding will come sometime this month.

They had a problem last week with the cabal who we were told removed some of the gold but got caught.

The launch codes will be submitted next week and they are testing the systems with the whales.

Again, it may happen next week, but I don't think anything will happen until after the election. The process will start, there will be no delays, I know we all want it now, but I don't see this happening until after the new president comes on the scene in January, but hopefully much sooner.

I don't think this will go past January. I really don't see it now, but I think we're getting very close.

Translated by Gabi for

@Era54321Dorada

New details for the 2025 budget schedules. Check it out, 29 OCT

New details for the 2025 budget schedules. Check it out

Economy News – Baghdad

The government confirmed that the 2025 budget will remain in the range of 200 trillion dinars, despite the demands of the Parliamentary Finance Committee to reduce it to comply with the expected financial revenues for next year.

In this context, the Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, explained that “the 2025 budget will continue to be linked to the constants approved in the federal general budget law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives.”

Saleh stated that “next year’s budget will include a hypothetical deficit of 64 trillion dinars,” noting that “this deficit is a hedging deficit that has been approved by law to deal with fluctuations in revenues, especially oil, which is affected by changes in global energy prices and the cycle of oil assets.”

He added that “the total spending ceiling will approach 200 trillion dinars, according to the financial and economic conditions of the country.”

He pointed out that “the price of a barrel of oil in the trilateral budget, which includes the 2025 budget, was set at $70. If the price of oil exceeds this level, this will reduce the percentage of the expected default deficit in the budget.”

Added 2024/10/29 – 12:59 PM

https://economy-news.net/content.php?id=49269