DINAR REVALUATION

Friday, November 29, 2024

"there is a massive push in Iraq to go before Dec. 10th." BY MARKZ@DINAR...

"NOTICE PARLIAMENT IS PASSING LAWS LEFT & RIGHT" BY FRANK26, 29 NOV

KTFA

FRANK26: "NOTICE PARLIAMENT IS PASSING LAWS LEFT & RIGHT"....F26

Parliamentary Committee: Parliament will vote on the Industrial Investment Law in its next session

11/26/2024

Deputy Chairman of the Parliamentary Investment Committee, Hussein Al-Saabari, confirmed on Tuesday that the Industrial Investment Law will be voted on in the next session of Parliament, pointing out the importance of the law with regard to customs and tax exemptions as well as banks’ support for the industrial sector.

Al-Saabari told Shafak News Agency, "The House of Representatives will vote in the next session on the Industrial Investment Law, which is considered one of the important laws in the field of investment, and the law is considered the beginning of the industrial movement in Iraq."

He pointed out that "this law is considered an important shift in industrial investment, as it contains many articles, including customs and tax exemptions, as well as bank support for the industrial sector and other articles that serve industrialists."

Al-Saabari explained that "there is an article in the law that includes the ownership of land by industrial investors outside the municipality's borders and the basic design."

LINK

TIDBITS FROM FIREFLY, 29 NOV

Frank26

[Iraq boots-on-the-ground report]

FIREFLY:Big news on television...Iraq is starting a policy to monitor the difference in the dollar rate official versus the black market to the dinar. They are relating to the exchange rate...They are calling everyone to pay attention to a new policy. I'm a little excited.

FRANK: This is very big news...This is the monetary reform education getting louder. It's at the point where they are screaming at you now...They're looking at the black market rate against the real official exchange rate (REER)...

The thieves in your country that profit from stealing the value of your currency are now being controlled by Sudani through his banks monetary reform policies. No more stealing from you Iraqi citizens... purchasing power .

https://dinarevaluation.blogspot.com/2024/11/firefly-iraq-is-starting-policy-to.html

Frank26

[Iraq boots-on-the-ground report]

FIREFLY: Economist on television is explaining about how a revaluation works. They're giving us examples of other countries and after that how the currency is linked or pegged to a basket of other currencies.

Wow...It's being told to us constantly now every day. The planning of the revaluation they say is done and now apparently this currency is going to be linked or pegged to a basket of other currencies.

FRANK: If they tell you it's going to be pegged to a basket of other currencies,...it means we have a new exchange rate because that's the only reason the other currencies in the basket will play along with it...They also want to fluctuate (bounce up and down) with the value of your currency that is about to go insane!

https://dinarevaluation.blogspot.com/2024/11/firefly-economist-on-tv-are-explainin_0805218404.htm

JEFF: " THE RATE WILL CHANGE ON A SUNDAY MORNING" @DINARREVALUATION

"IN 2 WEEKS AUCTIONS DIE!!!" BY FRANK26, 29 NOV

KTFA

FRANK26: "IN 2 WEEKS AUCTIONS DIE!!!".....F26

Al-Alaq on the platform closure: There is no sudden transition, but rather a gradual one that will be completed within two weeks (HOLY COW !!! -F26)

11/25/2024

The Governor of the Central Bank, Ali Al-Alaq, announced today, Monday, that the monetary situation in Iraq is at its best, and while he indicated that external transfers for trade purposes are proceeding smoothly after the implementation of the new system, he confirmed the existence of agreements with 4 companies to launch a new mechanism for travel or treatment transfers, and he also confirmed that the transition from the electronic platform stage is not sudden as is being circulated, but rather gradual and the process began in 2024 and 5% remains and will be completed within the next two weeks.
Al-Alaq said, on the sidelines of his participation in the opening of the fifth edition of the Arab Sustainable Development Week Forum in Cairo, as reported by the official agency and followed by the 964 network , that “there are trends within the government aimed at diversifying and strengthening the national economy, as the banking sector does not flourish unless there is a diverse production base,” indicating that “Iraq suffers from a heavy dependence on economic activity linked to the oil sector, which contributes primarily to the transfer of oil resources to the trade sector, and this constitutes a major imbalance in the structure of the economy.”

He continued, "In other words, oil revenues are transferred to building the economies of other countries through the large volume of imports, and this requires the necessity of activating the banking sector to provide the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors, in addition to other sectors."

Al-Alaq added: “I believe that this trend will contribute to reducing dependence on oil resources, in addition to providing job opportunities and real economic growth.”

monetary stability

He stressed that "the monetary situation in Iraq is currently very excellent," noting that "the high volume of foreign reserves enables the Central Bank to support and defend the exchange rate and achieve monetary stability, despite the difficult circumstances surrounding the countries of the region."

He explained that "the Central Bank is working to find ways and means to meet all the needs of the country, citizens and the business sector for foreign currency."

He added: “Whenever the conditions and factors necessary for transfer operations or demand for foreign currency are available, the Central Bank is ready to deal with this demand without any fears or concerns, which contributes to maintaining stability.”

The Central Bank excelled in providing foreign currency.

Al-Alaq stressed that “the Central Bank is currently distinguished from the rest of the countries in the region by its ability to respond to the country’s needs for foreign currency, whether for the public or private sectors or even the civil sector, to meet various types of requests for foreign currency.”

New system for foreign transfers

He pointed out that "there is a historic shift taking place in the context of foreign transfers and meeting demands for the US dollar, as there were many observations that necessitated changing the procedures and policies related to dealing with foreign currency and providing it."

He added, “The Central Bank has implemented a new system for foreign transfers to ensure their fluidity and transparency. Despite the challenges and difficulties that faced the implementation of these procedures at the beginning, we have overcome these obstacles, and today the process of foreign transfers for commercial purposes is proceeding smoothly, which explains the general control over prices and inflation, as the Central Bank continues to provide dollars for trade at the official price.”

He continued, “New channels have also been opened for transfers using other currencies, such as Turkey, India and China, in addition to European countries. This will make the process of foreign transfers more flexible and streamlined, while ensuring transparency and oversight that enhances trust and credibility in the operations we carry out.”

Foreign transfers of citizens

Regarding providing remittances to citizens for various purposes, such as travel, treatment, or any legitimate remittances abroad, Al-Alaq confirmed: “Next year, we will launch a new method to expand and enhance these operations, just as we did for commercial remittances.”

He pointed out that "there are also current agreements with the relevant companies such as (Visa, Mastercard, MoneyGram, Western Union) to establish a new framework for implementing these operations, which will constitute another shift in controlling these operations."

Al-Alaq added, “Next year or the beginning of next year 2025 will witness the completion of the current procedures, and we seek to provide reassurance, especially with some people’s questions about the fate of transfers after the completion of the electronic platform at the end of this year 2024.”

“There is no sudden transition, but rather a gradual transition that began in 2024, where the banks’ relationship was transferred directly to correspondent banks without going through other links, and the process was completed successfully,” he continued, stressing that “more than 95% of this goal has been achieved, and this process will be completed successfully within the next two weeks,” noting that “there is international anticipation to celebrate this occasion.”

LINK

TIDBITS FROM MILITIAMAN, 29 NOV

Militia Man

Alaq is talking about having an anticipation of a celebration...

They told you almost a year ago that Iraq would be the savior of the financial system and bring confidence to the world...We're seeing them at the end of that transformation.