Al-Sudani directs to increase bank branches to expand financial services and modernize buildings in governorates
high Minister Mohammed Shia Al-Sudani directed, nowadays, Friday, to increase the wide variety of financial institution branches inside the governorates to fulfill the wishes of the local population and to make a contribution to expanding the scope of economic offerings while taking note of homes, their modernity, and presenting their primary requirements.
Al-Sudani’s media workplace stated in a announcement obtained by using {dinaropinions.com}, “inside the framework of efforts to reform the economic and banking device, as one of the priorities of the authorities software, and in light of the essential steps accomplished for the duration of the beyond two years, and in light of the demanding situations dealing with the monetary and banking device, especially in the governorates, and on the grounds that confronting them requires extra attention and radical upgrades to make certain enhancing confidence within the economic and banking sectors, facilitating the technique of financial improvement, increasing monetary inclusion and raising its signs all through the u . s . a ., and because most of the activities have been concentrated within the capital, Baghdad, prime Minister Mohammed Shia Al-Sudani directed some of steps to be taken on this regard:
increasing the wide variety of financial institution branches inside the governorates to fulfill the needs of the nearby population, and in a way that contributes to expanding the scope of economic services, while paying attention to buildings, their modernity, and imparting their basic necessities.
the necessity for all banks within the governorates to undertake modern-day technology together with on-line banking offerings and cellular applications, which allows citizens’ get right of entry to to their banking offerings easily.
three. Emphasizing to banks the significance of developing their financial services to in shape the wishes of individuals and small businesses, which includes tender loans and savings money owed.
four. improving economic inclusion within the governorates via offering banking services to distinct segments of society, including districts and sub-districts in villages and rural areas.
Launching meetings and attention campaigns within the governorates, to educate residents about the importance of handling banks and the way to manipulate and invest cash well.
Organizing workshops to train young marketers and local businessmen on the way to deal with loans and monetary offerings.
The Ministry of Finance, the critical bank of Iraq, and the Iraqi private and Islamic Banks associations will coordinate with the governors’ workplaces to accomplish the above duties in keeping with their jurisdiction and duty, and post quarterly reports (every three months) to the top Minister’s office regarding the progress of labor on the stairs mentioned above.
๐In today’s article titled “THE IRAQI COUNCIL OF MINISTERS APPROVES A SET OF SERVICE, ECONOMIC AND URBAN DECISIONS”. The Council of Ministers, headed by Mohammed Shia Al-Sudani, issued on Tuesday, during the forty-fifth regular session, a number of important decisions that fall within the government’s efforts to improve services and. strengthen the economy and infrastructure in Iraq. This article just backs up with what I just told you above. The efforts, thus now the current news from Iraq is mostly about how they plan to rebuild their economy.
๐Then along these same news lines were read another article titled “THE SLOGAN “MADE IN IRAQ” .. THIS IS WHAT IT NEEDS TO ACHIEVE “REAL IMPACT”. In it economic expert Safwan Qusay confirmed that the slogan “Made in Iraq” will not achieve a real impact unless the appropriate financial tools are provided to enhance local industrial production. Qusay said, “Recovering the due funds will contribute to expanding the scope of the Industrial Bank’s influence in supporting the national industrial machine,”adding that “Iraq is in dire need of specialized loans to support various industries such as tourism, entertainment, and the fishing industry, as these areas generate revenues that contribute to strengthening capital.” From this article can you see now how the banking reforms are going to help accelerate the rebuilding the Iraqi economy? Yes, by reforming the banking system it is going to allow capital to flow to complete these much needed projects and industrial base.
๐Yes, then along these same news lines were read another article titled “AL-SUDANI: THE GRAND FAW PORT IS A STEP TOWARDS A NEW IRAQ IN THE HEART OF THE GLOBAL ECONOMY” Prime Minister Mohammed Shia al-Sudani stressed, during his visit to the Grand Faw Port in Basra Governorate, that “the port represents a step towards a new Iraq in the heart of the global economy.”Oh boy here it is and summarizes what I have been saying. In the article and I quote – “Al-Sudani pointed out that development and economic transformation are an “integrated approach,” stressing that “Iraq was and still is a fundamental pillar in the global economy,” and that “
the path of development will be an artery linking most countries in the region.”
Bottom line is, Iraq needed the infrastructure just like any other country to move ahead in its economy. Infrastructure takes many forms. It’s not just roads, water, sewer or electricity, which we witnessed them struggle with also in the past. It’s also Banking, Ports of entry to facilitate trade, Factories, Trade relations with other countries, etc.,etc.
๐ I really liked this last article I will review today. Its titled “MAKKIA: IRAQ IS HEADING TOWARDS A MAJOR INVESTMENT MARATHON”. In itthe head of the National Investment Commission, Haider Makiya, confirmed on Wednesday that Iraq is heading towards a major investment marathon for many projects, while he indicated that financing from international institutions reduces the burden on the Ministry of Finance by granting loans for investment projects. In the article
Makiya also said “we found many economic visions in the first version of the Iraq Economic Forum“, noting that “the issue of the possibility of benefiting from the financing of international institutions known to the Central Bank was raised.
Why is this news so important? It is important because the “thinking” and now the “ability” to shift away from the CBI financing everything in Iraq from the CBI reserves, they are now reaching out to international institutions for money. So, you see once again the banking and stock market reforms are paying off and going to pay off even bigger. It’s all now coming together. Can you see it too? First the reforms then they can rebuild the economy because you first needed the groundwork laid out.
What can we as investors do right now?
Pray and pray that nothing will mess this up….
Be very patient….
Do not sell you dinar….
No more intel guru talk….
No more NESARA / GESARA crazy talk
Stop listening to all these idiots as they are only confusing you more and more (especially TNT and “The Big Call” idiots.)
Don’t over speculate and set unjustified expectations
I know the path to this reinstatement and I don’t have to speculate or guess.
The Prime Minister’s adviser for transport affairs, Nasser al-Assadi, revealed unprecedented progress in the port of Al-Faw while detailing its impact on the future of the Iraqi economy.
The useful summary.. In the important news, you will find it on the Al-Furat News channel on Telegram. To subscribe, click here
Al-Asadi said {For Euphrates News} that: “The government has received the five berths of Al-Faw Port and the General Company for Iraq Ports will equip these berths with cranes and logistics devices that help in operating the port, and it is a big step and a vital artery to operate the development road towards Europe.”
“The port is practically ready for operation, but there are some logistical measures that the Ports Department is taking for the purpose of operation,” he added. Al-Asadi continued, “The port of FAO is a huge global project and is the largest port in the Middle East and one of the 10 largest ports in the world that will completely affect the Iraqi economy in terms of job opportunities, revenues, economic and political status of Iraq and international obligations in providing security and safety for the region to impose the operation of this vital port.”
He pointed out that “the achievement of very high completion rates in the water channel, the globor tunnel and the connecting road, and now the process of drowning the submerged tunnel is taking place, which is the second operation in the world through very advanced technology only, there is a cladding process and this stage ends and then linking it to the submerged tunnel.”
“There is an achievement in the port of FAO, which is matched by an achievement on the path of development, and now after the signing of the quadripartite agreement between Qatar, the UAE, Iraq and Turkey, there have been intensive meetings to put the governance that will lead the project at the ministerial, executive, technical and secretarial levels,” Al-Asadi said. He pointed out that “the initial design of the railways was completed 100% and 84% for the highway and there is the service corridor, which includes oil, gas, electricity and the Internet, and we are in the process of finally reviewing this design and approving it 100% to put the tenders that will be offered to international companies at the end of this year.”
๐I want to bring your attention to an article titled “ICC CREATES IRAQ ARBITRATION CMTE TO BOOST FOREIGN INVESTMENT”. I quote from the article- “The International Chamber of Commerce (ICC) in Iraq has reportedly established a local arbitration committee, aimed at minimizing financial losses from external arbitration and attracting foreign investors.” This action is just yet another link in the series of events that tell us Iraq is going international all the way. If companies are going to function in Iraq there must be a means to settle disputes besides going to the federal courts. Arbitration opportunities first is always a good option and can save companies a ton of money from going to international courts for disputes. Did the WTO want this too. You can bet they did! ๐
๐Where the hell is Azerbaijan? What happened with the Azerbaijan currency?
I want to point out this currency revaluation that happened in 2006 and passed everyone right by… Let’s take a look what happened and how you missed it and why. The title to the recent article today is “AL-ALAQ STRESSES TO AZERBAIJANI AMBASSADOR THE IMPORTANCE OF COOPERATION IN TRANSFERRING MONEY TO FACILITATE TRADE BETWEEN THE TWO COUNTRIES”.
You might want to go read the short article. Oh… boy, oh boy it is such an important article. Important not so much because for our Iraqi dinar investment but more important for understanding how this currency market actually works.
I quote from the article: “The Governor of the Central Bank if Iraq, Ali Al-Alaq, stressed today, Wednesday, the importance of cooperation in terms of exchanging expertise and the process of transferring money to facilitate trade between Iraq and Azerbaijan.” Yes, trading partners with yet another country with a currency worth something 1 AZM = 0.59 USD. That almost 60 cents. What the IQD worth 1/6 of a penny? Can you see the cumbersome monetary exchange process between the two countries in converting?
Also the author “pointing out the importance of cooperation at the level of exchanging expertise and the process of transferring money to facilitate trade between the two countries.”
You should know that when Azerbaijan gained independence from the Soviet Union, it substituted the Soviet ruble with the manat, which also went through a period of high inflation in the first years, rendering the coinage obsolete. Didn’t this happen to Iraq too?
The current manat symbol AZM in circulation exists since the redenomination in 2006, when old manats were substituted with lower face values and new design. The currency has mostly been pegged to the US dollar, at what is now the rate of ₼1.70 to US$1 or today 1 AZN = 0.59 USD. Okay so what’s Mnt Goat’s point?
My point in explaining all this to you today and from the article is this: First, do you see how the country of Azerbaijan’s currency evolved over time? Yes, they too went through a redenomination from hyperinflation due to politics.
Second, do you see how it took time for the rate for the AZM to settle down and to be what it is today, the nominal steady rate.
What are the common elements of the AZM RV compared to the IQD RV?
1.Had to de-ruble their economy first, when changing over to the manat.
2.Issuing of the newer lower denominations.
3.First went through a period of higher inflation, once changed over to the manat and de-rubled.
4.The country needed a new face and design on their currency when it gained its independence.
5.The new AZM then had to be stated back on FOREX
Does all this sound familiar to you? Oh.. boy can you see now the process of Dr Shababi with the IQD is nothing new? Its’ the ‘PROCESS”, yes the process of what they usually do to come back with a viable currency. We need to watch the process carefully not some bank stories, bank memos or rumors of exchange centers opening, etc., etc. Get it?
Do you see commonality here to what happened in Iraq? These are the most common elements of these currency revaluations and the processes that go on along with them. Remember a previous article told us that 60 countries went through this process, just like this. So why didn’t you hear about some of these other countries on the news? The fact is you won’t and you wouldn’t even heard about the manat either had it not been for following the Iraqi dinar and this article from Iraq. But Azerbaijan’s currency revaluation is all over now, or is it?
If someone played their cards right in the recent past someone could have made millions off the changeover from the Soviet ruble to the manat. Do you see it now? Okay, so let me explain yet further.
So, this stuff happens in the currency market all the time only you have to follow the politics along with the economics of the country, to see it. Get it? My advice is PAY ATTENTION yourself. I am not telling you what to invest in only my personal beliefs. Get it? Don’t be funneled by some idiot intel guru or anyone else. Learn how to do your own research. If you have half a brain and desire you can do it.This is why I keep telling you that you can’t separate politics from economics. You can get all this kind of information from the IMF and World Bank internet sites. Its all there.
Oh… but this guy TNT Tony and others entirely missed the boat on this one just slipped by them. They missed it because someone in the background is distracting them from paying attention to these other currencies. Get it? They are playing mind games with you investors. They are funneling you to only a small group of currencies. They don’t want to have you making millions from these others and knowing the FACTS about what happens in these other countries. But it’s all public information and out there for the taking. Yes, they created this concept of this stupid global currency reset and the real reset is happening already right in front of your noses only many of you can’t see it because they dwell so much on the dinar as a hinge pin and these this “first basket” of currencies they wait for it. Yes wait on the sidelines for, meanwhile all these other currencies have also been revalued and just passed you by….yes, bye bye! ☹
Lesson learned- I keep telling you not to listen to these intel gurus! When they keep pushing something on you then the red flag should appear. Something is strange. There is another reason why they push it so much. Use your brain. You can think for ourself can’t you?
Prime Minister Mohammed Shia Al-Sudani issued on Friday a number of recommendations to reform the financial and banking system in Iraq.
The Information Office of the Prime Minister said in a statement received by “Economy News” that “as part of efforts to reform the financial and banking system, as one of the priorities of the government program, the Sudanese directed to take a number of steps in this regard:
1. Increasing the number of banking branches in the governorates to meet the needs of the local population, and in a way that contributes to expanding the scope of financial services, while paying attention to buildings, their modernity and providing their basic requirements.
2. All banks in the governorates must adopt modern technologies such as online banking services and mobile applications, making it easier for citizens to access their banking services easily.
3. Emphasizing on banks the importance of developing their financial services commensurate with the needs of individuals and small companies, such as soft loans and savings accounts.
4. Enhancing financial inclusion in the governorates by providing banking services to different categories of society, including districts and areas in villages and rural areas.
5. Launching conferences and awareness campaigns in the governorates, to educate citizens about the importance of dealing with banks and how to manage and invest funds properly.
6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services.
The statement explained, “The Ministry of Finance, the Central Bank of Iraq, and the associations of Iraqi private and Islamic banks will coordinate with the governors’ offices to complete the above tasks according to jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office on the progress of work regarding the steps mentioned above.”
