Then we learn in another the article titled “AL-ALAQ CALLS FOR FIXING THE PRICE OF A BARREL OF OIL IN THE BUDGET AT $40” Yes, when the CBI talks I listen. Ali Al-Alaq has never let me down. I am big fan of his. I do believe in his plan to bring this reinstatement to reality. He is a very strong believer in the possibility of the great wealth that could be Iraq’s, if only they can manage these much needed reforms.
In this news articles we also find that Ali Al-Alaq, the governor of the Central Bank, revealed the imminent/establishment of national companies and banks specialized in electronic payment and financing small projects, while calling for fixing the price of a barrel of oil in the budget at $40. So, to me it sounds like he has control over the fate of the economy and is planning changes to coincide with the new monetary and financial system. Opps…. Did I just say “new monetary and financial system”?
As investors following the CBI moves, we must keep remembering that the main goal of the CBI is to watch for inflation. It is the Central Bank and so it must protect the reserves of the country and use them wisely for the benefit of all. Is this not “monetary policy” ? Oh… but let’s not forget that the dinar is all part of this effort too and the nations wealth is always dependent on the sovereignty and value of its currency. So can you see Ali Al-Alaq also know this factor and this too is a final outcome of all his efforts. But his effort are also ongoing even after the reinstatement we have left the bank from our exchange. These reforms are NOT about us, but about making Iraq a power house of wealth, prosperity and abundance. We are just a small part of it, the last stop on the choo-choo train. When the train stops they are at their destination. Then they must continue to grow from that point.
Next, the CBI talks about “cross border” controls for money transfers. The bank said, according to a statement received by “Baghdad Today”, that “in order to reduce the risks of bringing in and out money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, 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 Controls No. 1 of 2017), the following must be adhered to. You can go read the list of controls if you wish in the article section of today’s Newsletter.
Going forward let’s turn our attention to see if the prime minister is a good prime minister or if he is sandbagging the reforms, like many Iranian officials have alluded to.
So after Two years after the formation of the government, Al-Sudani celebrates the completion of 62% of the government programs. I would say this is VERY accomplished.
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