GOLDILOCKS: Banks Preparing For New Currency Exchanges - ALL Test Completed!!!, 8 DEC

 GOLDILOCKS: Banks Preparing For New Currency Exchanges - ALL Test Completed

Summary

Banks are gearing up for new currency exchanges with all tests successfully completed, indicating a major financial shift is on the horizon.

Highlights

• 🚀 Banks are readying for new currency exchanges.
• ✅ All tests for the new systems have been completed.
• 🌍 This move signals a potential global financial shift.
• 📈 Increased efficiency in currency transactions is expected.
• 🔒 Enhanced security measures are in place.
• 🏦 Major banks are collaborating on the initiative.
• ⏳ A timeline for implementation is anticipated soon.

Key Insights

• 🌐 Global Impact: The readiness of banks for new currency exchanges could reshape international trade dynamics, influencing global economies.
• 🛠️ Technological Advancements: The completion of tests suggests significant technological innovations, streamlining processes and improving user experience.
• 🔍 Security Enhancements: With new systems, banks are prioritizing security, addressing concerns over fraud and cyber threats in currency transactions.
• 📊 Market Reactions: Anticipation of these changes may lead to shifts in currency values, affecting investors and trading strategies.
• 👥 Collaborative Efforts: The cooperation among major banks highlights a unified approach, signaling confidence in the new currency exchange framework.
• 📅 Implementation Timeline: Stakeholders are keenly awaiting the announcement of an implementation timeline, which will guide market preparations and responses.
• 🔮 Future Prospects: This initiative could pave the way for new financial products and services, enhancing consumer options in currency management.

BRUCE: THEY MUST PAY OUT THEIR CITIZENS IN NEWLY RENOVATED RATE @DINARREVALUATION #iraqidinar

 

Source: Iran resumes gas supply to Central Iraq, 8 DEC

 Source: Iran resumes gas supply to Central Iraq

On Friday, Iran began gradually resuming gas supplies to power plants in central Iraq following the completion of maintenance work on gas transmission lines, a government source revealed.

The source told Shafaq News that electricity supply is expected to improve in the coming hours in central regions, particularly in Baghdad, Wasit, Diyala, parts of Al-Anbar, and other provinces.

The resumption came after a two-week suspension of Iranian gas supplies for maintenance, which had caused the Iraqi national power grid to lose about 5,500 megawatts of electricity, according to the Ministry of Electricity's announcement on November 24.

Notably, Iraq has relied on scheduled power cuts since the 1990s due to chronic electricity shortages. Residents often turn to private generators to fill the gap.

To supplement its needs, Iraq imports 33-40% of its gas and electricity from Iran. However, US sanctions on Iran have complicated payment for these imports, restricting Iran's access to funds for purchasing non-sanctioned goods like food and medicine.

In light of these challenges, Baghdad has been pursuing alternative energy strategies, including regional grid connections to secure stable electricity supplies without relying on fuel.

Iraq has also sought to diversify its gas imports, signing a preliminary agreement with Turkmenistan in August 2023 to supply gas for its power stations.

On the other hand, the United States continues to pressure Iraq to reduce its reliance on Iranian gas, despite Iraq’s status as the second-largest oil producer in OPEC.  link

BROTHERS TECHNOLOGY: BANKS ARE READY TO GO AND SO ARE WE, 8 DEC

 BROTHERS TECHNOLOGY

It’s almost CELEBRATION TIME for the PM directed parliament to proceed with the amendment to the budget and my brother

@majeed66224499

aka Dr ChatGPT PROVES THE GREEN LIGHT

as you see Banks are READY TO GO and so are we, look see the oil amendment is complete and get ready

Iraq is ready for takeoff citizens get ready for your surprise is any hour from this Point.

---

ChatGPT purpose for the acronyms in this is amazing and the CBI training employees in these certifications is in preparation for global forex markets and internationalization for Iraq Banking system.

JON DOWLING: "Iraq’s HCL Oil &Gas law ITS READY TO GO TO THE GAZETTE @DINARREVALUATION #iraqidinar

 

The Governor Of The Central Bank Chairs A Meeting Of The Rafidain Bank Restructuring Project Committee, 8 DEC

 The Governor Of The Central Bank Chairs A Meeting Of The Rafidain Bank Restructuring Project Committee

 
December 05, 2024  His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired an expanded meeting to discuss the Rafidain Bank restructuring project.
 
While the committee for this project included
 
     Mr. Undersecretary of the Iraqi Ministry of Finance, Rebaz Muhammad Abdullah,
     officials of the Central Bank of Iraq, the
     State Advisor to the Prime Minister, the
     head of the World Bank mission in Iraq, and a
     representative of Rafidain Bank, as well as
     members of Ernst & Young as an expert auditor and consultant in the structuring process.
 
The Regional Director of the World Bank in Iraq, Mr. Emmanuel Salinas, explained the reality of working on this project, in which  he presented the opportunities available within the banking work environment in Iraq and the mechanism for developing the structuring plan in its operational and financial aspects.
 
Meanwhile, Mr. Firas Kilani, an expert in the structuring project from Ernst & Young, explained that
 
the project has
 
     progressed very significantly since its start in September of 2024 and has
     currently reached 74%.
 
The next phase of the scope of work will be completed at the end of this month, and the   
transition to the phase advanced in this project.

While His Excellency the Governor confirmed that the support of the Prime Minister of Iraq in this aspect positively accelerated the progress of the project, to reach important stages in the structuring and development process in the Rafidain Bank. 

Central Bank of Iraq   Media  Office         https://cbi.iq/news/view/2728   

IRAQ STATUS UPDATE , 8 DEC

IRAQ STATUS UPDATE 

Summary

Conflicting reports emerge about Iraq’s 2024 budget and the circulation of lower denomination dinar notes, emphasizing the need for verified information.

Highlights

• 💰 Budget Confusion: Mixed reports on Iraq’s 2024 budget status.
• 📜 HCL Anticipation: Hope for the Hydrocarbon Law’s appearance in the Gazette.
• 🔍 Lower Denominations Debate: Conflicting claims about new currency notes in circulation.
• 🏥 Ground-Level Insight: A surgeon’s observations challenge claims of lower denomination notes.
• ⚖️ Verification Importance: Highlights the need for credible sources in dinar speculation.
• 📉 Exchange Rate Changes: Recent fluctuations in the USD to IQD exchange rates reported.
• ⚠️ Caution Urged: Investors should be wary of unverified rumors regarding currency revaluation.

Key Insights

• 💡 Budget Uncertainty: The ongoing debate about the budget suggests potential delays in Iraq’s economic reforms. Investors should remain alert to official announcements.
• 🔗 HCL Significance: The Hydrocarbon Law’s inclusion in the budget could signal significant economic developments and stability in Iraq’s oil sector.
• 💵 Denomination Speculation: Claims about lower denomination notes not being widespread indicate that rumors can often overshadow the actual economic conditions.
• 🏥  Healthcare Perspective: Insights from healthcare professionals offer a unique view of currency circulation, underscoring the need for information from diverse sectors.
• 📊 Rumor Verification: The dinar community must prioritize fact-checking to prevent misinformation that could lead to misguided investment decisions.
• 📈 Market Rates: Fluctuating exchange rates illustrate the volatility of the Iraqi dinar, serving as a reminder for investors to monitor market trends closely.
• 🔍 Balanced Approach: A measured, evidence-based approach is essential when analyzing Iraq’s economic landscape and potential currency reforms.