The capital of Iraq’s private banks increased by 7.3%, 12 NOV

 The capital of Iraq’s private banks increased by 7.3%

Shafaq News / The Central Bank of Iraq announced on Monday a rise in the capital of private banks by 7.3%.

The bank said in a report seen by Shafaq News Agency that it recorded an increase in the total capital of private banks operating in Iraq during the first quarter of this year, by 7.3% to reach 19.2 trillion dinars compared to 19.7 trillion dinars for the same period last year.

He pointed out that private banks operating in Iraq increased their capital by 6%, while the capital of government banks increased by 11.1%.

He added that the contribution of private banks’ capitals amounted to 73.2%, while the capital contribution of government banks amounted to 26.2%.

The bank explained that deposits in the first quarter of this year rose by 1.2% to reach 123.7 trillion dinars compared to 122.2 trillion for the same period of the previous year, thus increasing current deposits by 3.1% as a result of the increase in current expenditures from the wages and salaries of employees in the public sector, while savings deposits decreased by 3%, and fixed deposits decreased by 10%.

EXCERPTS FROM MARKZ, 12 NOV

 EXCERPTS FROM MARKZ

Member: How much longer can they push this out, too many barely surviving..

MZ: We do not know the timing but, there is a massive push in Iraq to go before Dec. 10th. They say that’s when they want to be complete – so IMO they need to go sometime this month. That makes the most sense. 

Member: Another guru said redemption center appointments should start on 26th, why would they start on Thanksgiving week? 

Member: I would be Thankful to see the RV that week for sure. Or sooner!

Member: Many are saying that by Tues.12 Nov. we should have a shotgun start.?

Member: I listened to militiaman last nite...he doesnt think it will be 2025...but VERY SOON now!

Member: Goldilocks doesn’t think it will go until first part of 2025 because that is when some banking laws take affect. 

MZ: Goldilocks may be right……but we will see. 

MZ: So far this morning it is very quiet on the bond side. But that is to be expected. On the west coast they don’t start moving around until 2-3 pm est in the afternoon . I hope to have a very solid update on the bond side this evening. 

MZ: CMKX also silent over the weekend. 

Member: So no RV until Trump officially takes office on Jan 20th?

MZ: I have simply not heard that ……80-90%  of my contacts believe we will be going before Dec 10th. There are a few outliers opinion that we wont be going until Trump is in….but the overwhelming majority believe we will go between now and Dec. 10th. 

THEIR MONEY CAN MOVE IN AND OUT OF THEIR COUNTRY NOW FREELY BY FIREFLY @DINARREVALUATION

 

Sudanese arrives in Saudi Arabia to participate in an emergency summit, 12 NOV

 Sudanese arrives in Saudi Arabia to participate in an emergency summit

Shafaq News / Iraqi Prime Minister Mohammed Shia Al-Sudani arrived on Monday in the Saudi capital Riyadh to participate in an emergency summit on regional events.

The Sudanese media office stated in a brief notice that the latter arrived in Riyadh to participate in the joint Arab and Islamic summit on discussing the aggression against Gaza and Lebanon.

On Sunday, an informed political source reported that Iraqi Prime Minister Mohammed Shia Al-Sudani will go (today) to the Saudi capital Riyadh to participate in the Arab-Islamic Summit.

The source told Shafaq News that “the participation of the Iraqi delegation in the joint extraordinary Arab Islamic summit, in Riyadh, will be chaired by the Sudanese and the membership of Foreign Minister Fouad Hussein, and the Sudanese will deliver a speech at the meeting.”

THEIR MONEY CAN MOVE IN AND OUT OF THEIR COUNTRY NOW FREELY BY FIREFLY, 12 NOV

 Frank26  

[Iraq boots-on-the-ground report] 

 FIREFLY:There's a guy on TV saying Iraqis have the possibility of purchasing any commodity electronically immediately. 

 FRANK: You see their money can move in and out of their country now freely.  Yah!  There's no more restrictions.  Yah!  The same things are happening with goods and services. 

FIREFLY: "Alaq knows there is going to be a rate change" @DINARREVALUATION

 

Including Iraq.. The most buying countries for gold in 10 years, 12 NOV

 Including Iraq.. The most buying countries for gold in 10 years

Economy News – Follow-up

Governments are storing thousands of tons of gold bars in their vaults, as the precious metal is a safe haven. Iraq has become among the most tulling countries in the world to buy gold and strengthen its reserves of the yellow metal.

The economic website “RBK” published a report, based on data from central banks around the world, the International Monetary Fund, the World Bank and the World Gold Council, which highlighted countries’ purchases of the yellow metal from 2013 to 2023.

According to the report, central banks in the world’s purchases at the end of 2023 amounted to about 1037 tons of gold, which is the second largest volume purchased on an annual basis ever.

The report showed that Russia, China and Turkey were at the forefront of gold purchases in the said period, with the three countries’ purchases of 2,903 tons of resonant yellow.

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Added 2024/11/11 – 2:34 PM

https://economy-news.net/content.php?id=49703