Saturday, December 14, 2024

MAJEED: "And the rate will be $4 per 1 IQD " ‪@DINARREVALUATION‬

FRANK26: "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE", 14 DEC

KTFA

FRANK26: "BECAUSE OF A NEW EXCHANGE RATE, NOT BECAUSE OF A PROGRAM RATE".........F26

Governor of the Central Bank of Iraq receives a delegation from the International Finance Corporation

December 11, 2024

His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the International Finance Corporation, which included the Director of the Financial Sector of the Corporation in the region, Mr. Yousef Habash, and Mr. Bilal Al-Zughair, the Resident Representative in Iraq, the Financial Investment Officer, and the Head of the Advisory Department.

During the meeting, they discussed strengthening bilateral relations between the Central Bank of Iraq and the International Finance Corporation, the importance of cooperation between local banks and correspondent banks with technical support from the Corporation, and the development of Islamic banks operating in Iraq, in addition to the banking reforms carried out by the Bank in cooperation with the relevant authorities, especially the restructuring of government banks, and the role of international companies operating in this field (Ernst & Young and Oliver Wyman).

His Excellency the Governor discussed the proposal to establish a leasing company with local and foreign contributions, which is one of the financial systems used to provide financing for projects and individuals without the need to directly purchase assets such as machinery and industrial equipment, vehicles, offices, and warehouses. This proposal supports emerging projects and small and medium-sized companies looking for easy and flexible financing.
The meeting discussed the importance of launching Riyada Bank next year, which will support projects with small and medium-sized loans, in line with the government’s vision to support graduates and entrepreneurs and develop labor markets.

Central Bank of Iraq
Media Office
December 11, 2024

EXCERPTS FROM MARKZ , 14 DEC

EXCERPTS FROM MARKZ

MZ: in Iraq: “Central Bank governor opening foreign channels to foreign currencies eliminates the black market” they are talking about partnering with neighboring countries and carry more of a “basket of currencies” so they do not need the US dollar for trade. Including Jordan, Saudi Arabia, and different countries around them .

MZ: They want to split the value of the Iraqi dinar based on gold, oil, reserves and a basket of partnering currencies. This should mean a much higher value for the Iraqi dinar. They are making “real world moves” to support the value of their currency.

MZ: On the bond side I have noticed a serious increase in the number of deals that flippers are making. And offers that flippers are making with immediate closures on those deals. They are telling bond people “What if those goes on longer- you should sell to us right now”

MZ: Why are historic bond flippers willing to spend a lot more money right away- then they were before? Do they sense how close we are? Do they know something on this front? This kinda surprised me

MZ: Flippers are suddenly willing to spend billions of dollars to pick up boxes of historic bonds ect….IMO they would not be spending this money unless they felt they would get it back quickly with a profit…They have to know it is coming.

Member: so like flipping a house. You buy it a bit cheaper ..then resell it at a profit . got it….that is very interesting

Member: I have heard $4.20 in country in Iraq right now

MZ: I have heard that rumor as well….dont have anything confirmed yet

BROTHERS TECHNOLOGY: THE BANKS ARE READY TO GO!! , OIL REFORM IS COMPLETE AND GET READY!!#iraqidinar

FRANK26: "BEHOLD THE GOAL OF THE NEW EXCHANGE RATE", 14 DEC

KTFA

FRANK26: "BEHOLD THE GOAL OF THE NEW EXCHANGE RATE".......F26

Government advisor: Tighter controls on suspicious money transfers reduce exchange rate manipulation

12/11/2024

Baghdad - WAA - Nassar Al-Hajj

Advisor to the Prime Minister, Mazhar Mohammed Salih, confirmed today, Wednesday, that tightening control over suspicious financial transfers reduces manipulation of exchange rates and the stability of the national currency, while indicating that limiting speculation reduces the use of foreign currencies in unproductive operations.

Salih said in a statement to the Iraqi News Agency (INA): "The Prime Minister's directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators, which remain of great importance in enhancing currency stability and reducing speculation that is harmful to the national economy, through mechanisms leading to combating illegal speculative activities, including specifically: tightening control over suspicious financial transfers that conflict with the rules of compliance and transparency in a manner that reduces illegal activities, such as money smuggling or manipulation of exchange rates, which maintains the stability of the value of the national currency."

He added that "taking strict measures against speculators and manipulators in the currency market strengthens confidence in the financial system and demonstrates the strength of government policy in protecting the national economy, and increases the confidence of citizens and investors in the country's financial system, in addition to directing resources towards the real economy to invest in the available opportunities in it, whether industrial, agricultural or service," noting that "by limiting speculation, the use of foreign currencies in unproductive operations is reduced, which helps to provide them to finance imports or beneficial investments."

He continued that "the protective measures against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illegitimate gains, which enhances the stability of the local market."

Saleh explained that "the importance of limiting speculation and speculators' opportunities remains in enhancing the efficiency of the banking system through the role of monitoring financial transfers, which undoubtedly contributes to revealing the loopholes in the banking system and enhancing governance and transparency in it, as such measures are in line with the comprehensive reform plan for the financial and banking sector, and aim to enhance financial stability and prevent violations that negatively affect the national economy."

LINK

MNT GOAT & FIREFLY ADVISED US THAT THE IQD WILL BE PEGGED TO A BASKET OF CURRENCIES SOON ON DECEMBER 2024, 14 DEC

NOV 2024

Mnt Goat

I had an interesting conversation with my CBI contact...Wednesday. We talked about the new peg for the dinar.

The new peg is established and will finally take the place for IQD peg instead the sole de facto peg to the US dollar.

I was told we will shortly see news articles on this subject matter as they educate the citizens...

https://dinarevaluation.blogspot.com/2024/11/about-new-peg-for-dinar-by-mnt-goat-18.html

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FIREFLY: ECONOMIST ON TV ARE EXPLAINING THE PROCESS OF THE RV AND THAT THE PLANS OF RV IS DONE!!, 25 NOV

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.html

DINAR REVALUATION