DINAR REVALUATION REPORT
Important news 
The next time they may try to pass it is expected to take place in a special parliamentary session by the end of the year or it’ll be discussed in early 2025
#IQD
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Tuesday, December 10, 2024
DINAR REVALUATION REPORT: Important news , 11 DEC
Will the local market be affected by the events in Syria? A detailed Iraqi view of the scene, 10 DEC
Will the local market be affected by the events in Syria? A detailed Iraqi view of the scene
The economic expert, Abdul Rahman Al Mashhadani, presented a detailed vision of the possibility of the local market being affected by the events in Syria after the fall of Syrian President Bashar Al Assad.
Al-Mashhadani ruled out via {Al-Furat News}: "The Iraqi market was greatly affected by the events in Syria because trade with Syria was greatly reduced after the sanctions imposed by America on banks," noting that "there are alternatives to Syrian products, as imports from them were mainly fruits and vegetables."
He expected that "there will be a positive impact on the dollar and that the value of the Iraqi dinar will improve in the coming period, and if the American sanctions on Syria are eased, it will have a positive impact, considering that it was one of the links in the sanctions."
Al-Mashhadani explained that "the American position towards the events in Syria is positive and there is clear support, as evidenced by the fact that the American side is thinking of removing the names of terrorist organizations from the so-called front that entered Damascus, which will lead to flexibility in commercial dealings."
He stressed that "the situation in general needs time for things to stabilize and for the borders to reopen."
The dollar exchange rate against the dinar decreased on Monday afternoon in Baghdad markets, coinciding with the closing of the stock exchange.
The dollar exchange rate reached 150,700 dinars for $100 at the close of the Al-Kifah and Al-Harithiya stock exchanges, while this morning it recorded 151,000 dinars for $100.
The selling price in exchange shops in the local markets in Baghdad was 151,750 dinars for $100, while the purchase price was 149,750 dinars for $100. link
GOLDILOCKS: CBI INTEL CALL "Taking Steps to GO INTERNATIONAL" CC HIGHLIGHTS NOTES, 10 DEC
GOLDILOCKS: CBI INTEL CALL "Taking Steps to GO INTERNATIONAL" CC HIGHLIGHTS NOTES
Summary
Goldilocks Global Banking News shares insights from a recent CBI conversation, highlighting Iraq’s shift towards digital banking and its international integration.
Highlights
- 🌍 Iraq is the birthplace of humanity, emphasizing its spiritual significance in the RV GCR.
- 💳 Iraq is moving towards digital banking with electronic wallets and card systems.
- 🤝 CBI is collaborating with international firms to modernize Iraq’s financial systems.
- 📈 A shift away from the Federal Reserve’s control is planned by year-end.
- 🌐 Iraq is integrating its customs and ports with automated systems to enhance trade.
- 🏦 The Iraqi dinar is poised for appreciation as it connects with global markets.
- 🔗 ISO currency codes are critical for Iraq’s international trade and financial integration.
Key Insights
- 🌟 Spiritual Importance: Iraq’s historical roots as the Garden of Eden highlight its unique role in global civilization, framing the RV as a spiritual journey alongside financial gains.
- 💻 Digital Transformation: The move towards digital banking is crucial for Iraq to engage with the global financial system, enabling seamless transactions and fostering economic growth.
- 🏢 International Partnerships: Collaborations with firms like Oliver Wyman are vital for Iraq’s modernization, ensuring it meets international banking standards and practices.
- 📉 End of Federal Control: The planned transition away from the Federal Reserve’s platform signifies a major shift in Iraq’s financial sovereignty and aims to stabilize the dinar.
- 🚢 Customs Automation: Integrating automated customs systems will enhance trade efficiency, reduce corruption, and support Iraq’s accession to the World Trade Organization.
- 📊 Value of the Dinar: The expected appreciation of the dinar as it engages internationally underscores the importance of these reforms for holders of the currency.
- 🔍 ISO Code Integration: Implementing ISO currency codes is essential for Iraq’s trade relationships and will facilitate smoother currency conversion in the new financial landscape.
Iraq signs MoUs with 15 Greek companies to invest in various sectors, 10 DEC
Iraq signs MoUs with 15 Greek companies to invest in various sectors
The Ministry of Trade explained, on Monday, the importance of resuming the meetings of the Iraqi-Greek Joint Committee, while the Federation of Iraqi Chambers of Commerce indicated the signing of memoranda of understanding with 15 Greek companies to invest in various sectors.
The administrative undersecretary of the ministry, Sattar Al-Jaberi, said in a speech during the Iraqi-Greek Business Forum, which was attended by the correspondent of the Iraqi News Agency (INA): "The participation of the Greek delegation, which includes representatives from the government sector and an elite of businessmen and investors in this important forum, constitutes a valuable opportunity to enhance economic and trade relations between the two countries and consolidate the bonds of joint dealing."
He added that "this important forum, held under the auspices of the Iraqi Ministry of Trade and with direct support from the Minister of Trade, aims to support and develop trade and economic relations with friendly countries, including the Republic of Greece," praising "the pioneering role played by the Federation of Iraqi Chambers of Commerce, headed by Abdul Razzaq Al-Zuhairi, in building international cooperation and creating a supportive environment for businessmen."
He pointed out "the efforts made by the Ministry of Trade, represented by its various institutions and the Director General of Economic Relations, to activate the joint economic and trade committees with brotherly and friendly countries."
He stressed "the importance of resuming the meetings of the Iraqi-Greek Joint Committee, which have not been held since 2000, as a necessary step to develop cooperation in various economic and trade fields in a way that achieves the common interests of the two countries."
He called on "the Greek delegation to participate actively in the next course of Baghdad International Fair, which is a unique platform for showcasing investment and trade opportunities and enhancing communication between Iraqi and Greek businessmen."
For his part, the head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed during the conference: "We signed many memoranda of understanding with countries around the world, including 15 major Greek companies to work in various sectors including (construction, building, health and agriculture), indicating that "this forum is positive and reflects a good image of Iraq to the world that it is healthy and does not resemble yesterday."
He continued, "The purpose of the conferences or meetings is to create continuous work with our Greek partners to invest and work inside Iraq," expressing his "thanks to the government with its legislative and executive authorities for supporting the Federation of Chambers of Commerce, which represents the largest segment." link
The celebrations have begun in Iraq!!, 10 DEC
@LucidLifeVibes
The celebrations have begun in Iraq.
You can feel the excitement and celebration. all eyes at the Central Bank of Iraq and Al Alaq on December 10, 2024.
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