It’s all Kabuki Theater with parliament budget this budget that & disinformation to keep us the investor confused as we’re just waiting for the (CBI)Central Bank of Iraq to make their move & change the Iraq dinar rate in order for everything else to get passed afterwards with the new rate figures.
Iraq reported through the gazette the new law allowing them to go digital internationally.
Parliament/HOR has NO control nor authority to change the rate. Once the CBI/PM Sudani announces the new Rate Change, the first place to go look for the new rate is http://cbi.iq
Remember Iraq CANNOT tell us when they plan on releasing the new rate as it’s ILLEGAL to do so.
All we can do is continue to study this investment, don’t get heavily emotional & WAIT for Iraq to change the rate!!!
Iraq has nothing else to do & NO choice but to change the Iraq DINAR RATE!!!
Iraq rises to third place in the Arab world in gold reserves after Lebanon leaves the list
The World Gold Council announced on Monday that Iraq has risen to third place in the Arab world after Saudi Arabia and Algeria, and 28th globally on the list of the 100 largest countries in terms of gold reserves, after Lebanon was removed from the classification.
According to the latest report published by the Council in December 2024, which Shafak News Agency reviewed, Iraq's gold holdings rose to 152.7 tons, up from 152.5 tons last month.
These holdings constitute 11.5% of its total other reserves, ranking it third in the Arab world.
The Council pointed out that "the United States of America continues to top the list of the largest gold holdings in the world, with 8,133.5 tons, followed by Germany with 3,351.5 tons, then Italy with 2,814 tons. Bosnia and Herzegovina came at the bottom of the list with 1.5 tons."
The Council did not mention the reason for Lebanon’s exit from the list, after it had been ranked third in the Arab world, as its reserves in the previous month amounted to 286.8 tons.
The World Gold Council is based in the United Kingdom and has extensive experience in understanding the factors affecting the gold market. The Council includes the largest gold mining companies in the world. link
Parliamentary Finance: Amending the budget will end the dispute over the oil file
Finance Committee: Budget amendment will end dispute over oil file
The Parliamentary Finance Committee, headed by Representative Atwan Al Atwani, hosted the head of the Federal Financial Supervision Bureau, Mr. Ammar Subhi Khalaf, and the senior staff, to discuss the draft of the first amendment to the Federal General Budget Law.
Al-Atwani stressed, according to a statement by the Parliament’s media, a copy of which was received by {Euphrates News}, “the committee’s keenness to approve the amendment in a realistic and implementable manner, in a way that ends the existing dispute between the federal government and the regional government regarding the oil file.”
He also pointed out that the completion of the committee's work on this amendment is dependent on the presence of the Ministry of Finance to clarify the legal basis for disbursing financial dues to foreign oil companies operating in the region.
For his part, the Chairman of the Federal Financial Supervision Bureau reviewed the schedule of financial dues between the federal government and the region, stressing the documentation of these dues in the Bureau’s reports, with the addition of notes regarding the delivery of the region’s oil and non-oil revenues to the federal government.
The Chairman of the Financial Supervision Bureau stressed the need for the amendment to include clear mechanisms for liquidating financial advances before the end of the year to avoid their accumulation. He stressed that the agreement based on this amendment is good and implementable, with the need to address the observations referred to.
The senior staff of the Financial Supervision Bureau also provided a briefing on the progress of the procedures for localizing the salaries of the region’s employees, indicating that the localization rate exceeded 80% in the banks accredited by the Central Bank of Iraq, with the end of the year set as the final date for completing the biometric cards to ensure that the problem of duplicate salaries is addressed. link
RV UPDATE: BANKS PREPARING FOR POTENTIAL CURRENCY EXCHANGE
Summary
Recent developments suggest a significant shift in the perception of the Iraqi dinar, with banks preparing for potential currency exchanges.
Highlights
🏦 Chase Bank is recognizing inquiries about the Iraqi dinar’s revaluation.
📈 Mr. Don’s bank visit led to an invitation to meet with a wealth manager.
💰 Iraqi television discussed the national budget’s impact on economic stability.
📜 Establishing a charitable remainder uni trust could offer tax advantages for dinar holders.
📊 The Iraqi Stock Exchange is seeing strong performance in the banking sector.
🌍 Iraq is diversifying its economy to reduce reliance on oil revenues.
🇻🇳 Vietnam’s trade surplus may lead to a reevaluation of the Vietnamese Dong.
Key Insights
🏦 Chase Bank’s acknowledgment of dinar inquiries indicates growing interest in currency revaluation, reflecting changing attitudes in the financial sector.
💼 The invitation for Mr. Don and his wife to meet with a wealth manager shows banks’ proactive engagement in potential currency events, signaling a shift in confidence.
📊 The national budget’s focus on exchange rates highlights its potential to drive Iraq’s economic recovery and attract investment, crucial for future growth.
🏛️ Setting up charitable remainder uni trusts provides a strategic tool for dinar holders, allowing for tax benefits and structured wealth management post-revaluation.
📈 The strong trading value in the banking sector suggests increased investor confidence and a positive outlook for Iraq’s financial markets.
🌿 Iraq’s efforts to diversify its economy by investing in non-oil sectors align with global economic trends, aiming for a resilient financial future.
💵 Discussions in Vietnam about raising the Dong’s value indicate that currency evaluations are a dynamic aspect of global trade strategies, affecting international markets.
Iraq has nothing else to do & NO choice but to change the Iraq DINAR RATE!!!