Central Bank Governor Reveals Important Figures About Iraq's Economy And Foreign Reserves, 1 NOV

 Central Bank Governor Reveals Important Figures About Iraq's Economy And Foreign Reserves

Time: 2024/10/30  Read: 3,848 times    {Economic: Al Furat News} The Governor of the Central Bank of Iraq revealed important figures about the Iraqi economy and its foreign currency reserves.

Ali Al-Alaq said during his participation in the Middle East Forum 2024 (Miri) session in Erbil, that "the volume of currency issued in circulation is approaching 100 trillion dinars," indicating that "the foreign currency reserve exceeds 100 billion dollars."

He explained that "next year will witness major transformations in the restructuring of government and private banks."

He pointed out that "the growth rate of the money supply rose from 46 trillion to 100 trillion within two years," noting that "the external debt does not exceed 20 billion dollars." LINK

TIDBIT FROM CLARE, 1 NOV

 Clare  

Article: "Al-Mashhadani is the new speaker of the Iraqi parliament" 

Quote: "Mahmoud Daoud Salman Musa Al-Mashhadani (May 20, 1948-), an Iraqi politician and the first speaker of the Iraqi parliament after the US invasion of the country.  He chaired the Iraqi Council of Representatives from 2006 to 2009 and was elected again today, October 31, 2024.  He was also elected President of the Arab Parliamentary Union in 2008."

MAJEED : find out the secondary market of Forex USD/IQD which is (1 IQD = $3.88) @DINARREVALUATION

 

TIDBITS FROM WOLVERINE AND FRANK-INFORMADOR THE WHALES, 1 NOV

 Thurs. 31 Oct. Wolverine

 “It’s time to go. It’s about here. Maybe within 24 hours. I heard from a Paymaster that’s it’s not as easy as it appears. There’s a lot of work to make it go.”

Wed. 30 Oct. 2024 FRANK-INFORMADOR The Whales

 The Main Leaders of All Countries have been called to receive THE PAYMENTS AND TRAINING. These, in turn; will train and notify the payments to all Group and Social Leaders; These, will be made through traditional banking in their accounts within the QFS System. Thank you very much. We appreciate your patience.

JUDY NOTES, 1 NOV

 Possible Timing:

• Fri. 4 Oct. saw the launch of a new Quantum Financial System (QFS) satellite, linking the system to Star Link.

• Thurs 24 Oct. 2024: BOOOOM!!! The gold/backed BRICS Currency Note would now be used for international trade, replacing the fiat US Dollar.

• On Sun. 27 Oct. into Mon. 28 Oct. 2024 Project Sandman (US Dollar crash) kicked off.

• Wed. 30 Oct. 2024: Tier4b funds released in Brazil.

• On Fri. 1 Nov. 2024 Texas, the possible site of the new US Republic Capitol, would be going to gold-backed currency.

Dinar Revaluation Update Tier4B Notifications are HERE FROM WOLVERINE @...

A Call To Establish A Digital Gold Market In Iraq , 1 NOV

 A Call To Establish A Digital Gold Market In Iraq 

 
Economical 10/31/2024
Baghdad: Hussein Thaghab
 
Student economic and financial expert Dr. Saif Al-Halafi established the digital gold market in Iraq, which requires cooperation between the Central Bank of Iraq, the Securities Commission, and the Iraqi Stock Exchange, as
 
it gives Iraqi investors the opportunity to participate in the global gold market, which
 
     attracts additional investments to Iraq, and also
     enhances cooperation between the regime. Iraqi banking and international financial institutions.
 
Al-Halafi said that the Central Bank can issue  digital gold bullion in different weights - 1 gram, 10 grams, 100 grams - approved by the government, and
 
these digital bullions can be traded in the Iraq Stock Exchange, in the same way that stocks or bonds are traded.
 
Through the market's financial intermediaries system, investors can buy bullion, using local currencies or converting them into foreign currencies. He added that the
 
market can be linked to global gold prices and currency exchange rates, which enhances transparency and interaction with the global market.
 
A platform similar to the Forex markets can also be used to trade  digital gold inside Iraq on the Iraq Stock Exchange, pointing out that
 
gold prices will be determined according to prices. Global exchange of gold and foreign currencies.
 
This will give investors the opportunity to speculate on fluctuations in gold prices and link them to changes in global currency prices, which increases the chances of profit and creates many job opportunities.

Regarding the economic benefits, Al-Halfi said:
 
Through this market, liquidity is withdrawn outside the banking system, and that the
 
digital gold market can act as a tool for withdrawing cash liquidity, and
 
instead of keeping money in banks, investors may prefer to buy digital gold, which is a safe asset that maintains its value.
 
It
     protects the investor's money from high  inflation rates,
     reduces the money supply, and this is the goal and
     limits inflation.  He pointed out that the
 
digital gold market contributes to diversifying the Iraqi economy, away from traditional dependence on oil.
 
The market can be a platform for encouraging financial innovation and developing new investment tools, especially exploiting the opportunities for Al-Faw Port to enter work next year, and the large base it provides for investors. Especially individuals and companies, as well as the goal we seek through development.  He warned that
 
creating a digital gold market requires a
 
     strong technical infrastructure, including
     secure electronic platforms and
     clear regulatory laws to protect the rights of investors, and
 
this will increase job opportunities, the ability to diversify and innovate, and the emergence of a startup culture.  Al-Halafi explained that the
 
digital gold markets aim to enhance transparency and ease in trading gold, and provide investors with a real opportunity to work, trade, and speculate on gold prices without the need to own actual gold, and
 
when the investor wants to convert gold into bullion or jewelry, these foundations allow him to convert digital gold into bullion.
 
With the payment of mining and goldsmithing amounts, all of these products create real and comprehensive investment job opportunities, which creates and enhances a flexible and innovative investment environment in Iraq.
 
Gold is one of the financial assets that has always been a safe haven for investors, especially in periods of economic, political and regional turmoil.
 
Here, with the global digital and financial development, new markets have emerged for digital gold trade,
 
where gold can be easily bought and sold through electronic platforms, in light of these developments,
 
It is possible to create a market for digital gold trade in Iraq, especially with the government’s tendency to establish digital banks and strengthen electronic payment systems, especially the use of electronic payment cards.       https://alsabaah.iq/105123-.html