FRANK26: "A PROGRAM RATE IS ABNORMAL!!!"............F26
Al-Alaq describes the parallel dollar as “abnormal”: There is great stability in prices
11/7/2024
Baghdad/Iraq
The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while pointing out that there is great stability in prices and a decline in inflation rates.
Al-Alaq said in an interview with local media outlets, followed by “Iraq Observer”: “We understand the focus on the rise in exchange rates in local markets, but we believe that the focus should be on the ability of the Central Bank to implement full coverage of foreign transfers for commercial or other purposes, and this happens on a daily basis.”
He added, "The daily dollar selling rates are high and almost sufficient to cover the needs of traders, businessmen and even citizens, and therefore we look at the price through the amount of sales that the Central Bank undertakes daily at the official price."
He pointed out that “the Central Bank looks at another indicator, which is the inflation rate in the market, and we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.”
The Central Bank Governor continued: “The price that is traded in the market is in fact an abnormal price that does not reflect the true price. Usually, this price is called a parallel price when there is a real parallel market with sources of dollars other than the Central Bank.”
Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to traders,” noting that “more than 95% of the Central Bank’s daily sales are foreign transfers, and this foreign transfer is what represents the reality of commercial and other operations that it covers at the official price.”
FRANK26: "SIX MONETARY REFORM POINTS... FOR THE IRAQI CITIZENS!!!".........F26
Al-Sudani directs to increase bank branches to expand financial services and modernize buildings in governorates
11/8/2024
Prime Minister Mohammed Shia Al-Sudani directed, today, Friday, to increase the number of bank branches in the governorates to meet the needs of the local population and to contribute to expanding the scope of financial services while paying attention to buildings, their modernity, and providing their basic requirements.
Al-Sudani's media office stated in a statement received by {Al-Furat News}, "Within the framework of efforts to reform the financial and banking system, as one of the priorities of the government program, and in light of the important steps achieved during the past two years, and in light of the challenges facing the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure enhancing confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country, and because most of the activities were concentrated in the capital, Baghdad, Prime Minister Mohammed Shia Al-Sudani directed a number of steps to be taken in this regard: 1. Increasing the number of bank 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. The necessity for all banks in the governorates to adopt modern technologies such as online banking services and mobile applications, which facilitates citizens’ access to their banking services easily. 3. Emphasizing to banks the importance of developing their financial services to suit the needs of individuals and small businesses, such as soft loans and savings accounts.
4. Enhancing financial inclusion in the governorates by providing banking services to different segments of society, including districts and sub-districts 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 money properly.
6. Organizing workshops to train young entrepreneurs and local businessmen on how to deal with loans and financial services.
The Ministry of Finance, the Central Bank of Iraq, and the Iraqi Private and Islamic Banks Associations will coordinate with the governors’ offices to accomplish the above tasks according to their jurisdiction and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s Office regarding the progress of work on the steps mentioned above.
There we go, and welcome everybody to the big call tonight. It is Thursday, November 7TH and you’re listening to the big call. Thanks everybody for tuning in again, and we’ve got to have a great call tonight. We’ve got some good information that no Sue does not know – And so I hope to share that in some depth in my segment tonight, but we’re gonna have a nice call tonight. So let’s welcome everybody to come in the call tonight. Thank you guys so much. And let’s, let’s go ahead and get the call started like we do every call and pray to call in
There was some chatter that was put out, and it was really a text or a post that was made that made some allusion to the fact that, oh, if you’re a Zim holder with projects or without projects, you’re going to be capped on how much your zIm is worth and how much you get.
That’s a total why it’s not true. I told you guys forever, so I don’t think any of you believed it, but I’ve told you that what we’re going to get is on par with the US dollar. And you know what on par means?
It means the same as – so we’re going to get that for the zim and don’t be dissuaded by everything you read, thinking that it’s the truth – or because it’s in print, it’s got to be true, not at all. This was a major mistake that was put out, and it’s not something that is true. And you know, people that do that should know better, and to put that out like they really should before you print something, or put something out like that, you have to do your best and vet it and see if it’s true and that was so you guys know what I’m talking about, great. And if it’s not then its over your head. Forget. It doesn’t matter.
I would say the good news is that we were getting information, as you know, as early as last Tuesday and yesterday Wednesday that we are in a position to receive – But I have to remind you of something you know, Monday is Veterans Day, and we heard that from Jeannie and Veteran’s Day is a bank holiday.
Now, even though redemption centers can be open on a bank holiday, they never have before, and so we are not looking at Veteran’s Day as something to be a start for us.
We are also looking at the possibility of everything being released to all parties on hosts us in tier 4b those in tier four A and the Admiral’s groups, also referring to the R and R – retribution and reconciliation. All of that, the retribution reconciliation amounts, should be occurring because that affects everybody, not just currency holders, if we’re in currencies, but we also get the R and R, that’s just a bonus for us. We don’t really necessarily need it.
We won’t turn it down, though it’s going to be, it’s going to be substantial for a lot of us – So that is designed to happen all together. And the money started being released for this last night at about 6:45 in the evening, with the theory that we would have a completion of at least notifications by 6:45 tomorrow night.
Now since that time, there have been a few mid course corrections that make it seem as if most everything that I just talked about is going to happen over the weekend this coming weekend, which is a three day weekend.
Now what we’re being told is we can get notifications over the weekend, but the exchanges that we make for our currencies and a Zim that we redeem at the redemption centers, along with our currencies would start on Tuesday, and so Tuesday would be the 12th of November, so still a few days away.
All right. So what we’re trying to say here is things are happening behind the scenes to release this and get this out to us in the way of our emails to emails to the bondholders, all of that is a very positive thing that’s going to happen. Our bank contacts are seeing rates on the bank screens – front screens for 17 currencies today, and they’re locked in – they are solid
Now — I don’t know where the redemption center screens are right now, but they’re probably not too far off. It tendencies for bank screens to be lit up and solid one day, and then redemption center screens the next. And it kind of been going back and forth, back and forth like that,
But I know that Sunday, which is the first banking day for Iraq and most of the Middle East will produce a new rate of the Iraqi dinar, again, another new rate which would show up Sunday in Iraq – and they have already been trading and buying and Selling using the Iraqi dinar in the Middle East for about a week, week and a half so far.
So that’s kind of neat to think of. There was a time when we talked about regional currencies around the globe, and the Iraqi Dinar was said to be one that would be used to do business at the default currency in the Middle East. And it could very well still be that way, even though each country has their own currency. You know, they may say, Well, we’re going to use the Iraqi Dinar in seven or eight different countries in the Middle East.
So we’ll see how that comes out. I’m not worried about that – But it is cool that Iraq is going to come with a new rate and this would be after the Forex comes back up, remember, tomorrow around five o’clock it closes for the weekend for 48 hours, and then it comes back up.
It comes back up Sunday at about five o’clock, Eastern time – and it reopens for the week – the Forex does – The other thing we heard today, which was interesting, was that something was to start shortly after 7 PM tonight
We got this from a very good source, and we figured out finally, we did get a little more information on this with saying that security in three different areas for us, for the country, would be initiated tonight, at seven o’clock. This is this would be for areas. Let’s see. How did it go? Anyway, it was three different areas of security concern that would be actually put into effect. So it should all, all those three areas should be in effect by sometime Saturday.
So that’s moving forward, and I think we’re really, yeah, I would have preferred and getting it before next Monday or Tuesday, but it looks like we’re going to be notified about this over the weekend, and set our appointments for some time, starting Tuesday the 12th of November.
Now the retribution and reconciliation allowance, I call it a couple different things, that is theoretically -okay – Now let’s say it this way, we have bank accounts in the QFS and our accounts have been mirrored, okay, to where telling they can see it, but we can’t, like walk seeing through a one way mirror. But I think in this case, that Mirroring is supposed to come off, and if the R and R of monies for us is already assigned to our bank accounts for direct deposit, they may take the looking glass away sometime over this weekend, where we can actually see those accounts.
Now that’s an interesting take. We may have it in our quantum financial accounts that we see when we go in for our exchanges, but it could be, and I’m hoping this is the case, that it’s already being made as a direct deposit into our if you’re on Social Security, the bank account that you receive your Social Security in or into.
And if you’re not on Social Security, it would come to your bank account as a direct deposit, — either way, direct deposit either to your Social Security bank account or to if you’re not on Social Security, to your regular bank account that you have, and that’s going to really be great for everybody, because even if you’re young, you would get something, maybe not all of it, but you would get some of that money on a monthly Basis.
If you’re older, 62 or older – I believe you would get it as a lump sum into your bank account, we’ll see whether it’s a lump sum, and we actually can identify and see that unmirrored account in our bank accounts, or if not, if we have To wait and we don’t see it, they know who the zim holders are unless they are not are enlisted and gifted them – it may be something that we don’t see until we give our quantum account what it needs to activate, which is our biometric finger or thumb print, which is our new username and password, our new five digit, a personal identification number code,all of these things, and a brand new email address and we will use, using password for our email as well.
All those things will be created when you’re in – if you can help the thing along and sort of start thinking of what you might want to use as username and password. I can’t tell you how many characters it’s going to require, though, you know how that is. You got to at least a minimum of eight, probably at least eight, and you want to, maybe you want to practice that, or get some ideas in mind what you might use, so that you’re not sitting there for questions to try to come up with a username or password.
Let’s get this thing up. Come on. Let’s go, you know, and that’s what it could be like. It’ll be fun. That’ll be good. And I’m excited about that as well. So what I’m saying is, supposedly, this weekend should reveal something to us in the way of our emails from Wells Fargo servers with the toll free number included, and also something about the RNR. And it could be that we get some indication of NESARA and GESARA over the coming weekend.
Now I can’t tell you when we’re going to get the Emergency Broadcast System kicking in. You don’t have to worry about 10 days of darkness. That was for the d********e. Did you notice how there weren’t any skirmishes or any uprisings or anything after the e******n. No, it never happened and it wasn’t going to they were totally ready. They were ready for anything.
And that’s when the communication was turned off for emails, and what I’m trying to say for cell service and internet service and all that in some of those d********e areas of the country.
So, you know, that was kind of a non event, which was great. I’m glad it was a non event, and now we can move on together, unified, unified in purpose. We’re going to see a lot of positive things. The fuel prices go down. We’re going to see inflation drop. We’re going to see just wars stop, and that the whole thing in the U*****e, I think that will have that will be completely irradicated in weeks, if not days.
Also, it may be so quick we just blink. And it has happened. Same thing. He wants peace in the Middle East like we had.
All right, moving on. So we have what I wanted to bring out,
And so let’s pray the call out, and we’ll look forward to a great weekend.
The Association of Private Banks announced on Saturday a high financial inclusion of electronic payment during the last two years.
“During the last two years, there has been progress in terms of increasing financial inclusion and the use of bank accounts, especially after government decisions regarding increasing the use of electronic payment,” said Ali Tariq, executive director of the Association of Private Banks, in a statement to the official agency and followed by “Economy News.”
He pointed out that “there are many citizens who have bank cards or bank accounts and the start of using electronic payment is clearly and gradually increasing, and all of these are reflected in the financial inclusion rate, which has risen according to the latest Central Bank data to 48%.”
He added: “Our ambition in the next phase is to increase financial services and be directed not only in city centers but also in villages and rural areas so that there are financial services that include the largest possible class of society.”
On Friday, Prime Minister Mohammed Shia Al-Sudani issued several directives to expand financial services in the governorates.
The Prime Minister’s Information Office stated that “within the framework of the efforts to reform the financial and banking system, as one of the priorities of the government program, and given the important steps achieved during the past two years, and in light of the challenges witnessed by the financial and banking system, especially in the governorates, and since confronting them requires greater attention and radical improvements to ensure the strengthening of confidence in the financial and banking sectors, facilitating the process of economic development, increasing financial inclusion and raising its indicators throughout the country. Because most of the events were concentrated in the capital Baghdad, Prime Minister Mohammed Shia Al-Sudani directed 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 entrepreneurs on how to deal with loans and financial services.
He added that “the Ministry of Finance, the Central Bank of Iraq, and the associations of Iraqi private and Islamic banks will coordinate with the offices of governors to complete the above tasks according to competence and responsibility, and submit quarterly reports (every three months) to the Prime Minister’s office on the progress of work on the steps mentioned above.”
