Iraq assumes presidency of Arab Investment Company’s Executive Board, 18 dec

Iraq assumes presidency of Arab Investment Company’s Executive Board

INA-  Baghdad


The Iraqi Embassy in Libya announced today, Tuesday, that Iraq assumed the presidency of the Executive Board of the Arab Investment Company in 2025.

Chargé d’affaires ad interim of the embassy Ahmed Al-Sahaf told the Iraqi News Agency (INA) that “in a prominent diplomatic step, Iraq succeeded in assuming the presidency of the Arab Investment Company during the sixty-third session of the Arab Economic and Social Council, which was held in the Jordanian capital Amman, to return to this position after an absence of 32 years,” noting that “Iraq has not been able to obtain the presidency of the aforementioned company since 1992.”

It is clear that “this achievement came in accordance with the joint coordination between the Ministries of Foreign Affairs and Industry and within the priorities of the government program of His Excellency Prime Minister Muhammad Shia Al-Sudani, and the emphasis of Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein on repositioning Iraq’s role in regional and international organizations, within the multilateral diplomatic track, as well as the strategic planning and management that the Iraqi Ministry of Industry carved towards it, and in accordance with productive diplomacy, through intensive efforts led by the Iraqi Embassy in Tripoli headed by the Chargé d’affaires Ahmed Al-Sahaf, who was able to obtain decisive Libyan support to strengthen Iraq’s candidacy, through coordination with the head of the Investment Commission in the State of Libya, Abdul Hakim Al-Fitouri, who gave the vote of Libya to the Iraq it needed to decide winning the post.  

He noted that “Iraq hosted the meetings of the company’s executive board in 2025 in Baghdad, a step aimed at strengthening Arab cooperation in the fields of industry and infrastructure, and consolidating Iraq’s position as a pivotal industrial center.”

TIDBIT FROM WOLVERINE, 18 DEC

Mon. 16 Dec. 2024 Wolverine

 The Bond Platforms are getting paid, but it is a very complicated process and some may not be paid until January. 

Tier4b (us, the Internet Group) is a different story. They are going to Redemption Centers to get paid all at once and likely before Christmas.”

JON DOWLING: " THE RV STARTS NOW, NOT NEXT YEAR!!!" @DINARREVALUATION #iraqidinarinvestor

 

Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability, 17 DEC

  Parliamentary Committee: Government working to reduce gap between parallel and official exchange rate to achieve stability

The Parliamentary Finance Committee explained, on Monday, that the government is working to reduce the gap between the parallel and official exchange rates to achieve stability, while indicating that the Iraqi economy will not be affected by the deteriorating conditions in Syria .

Committee member Moeen Al-Kazemi said in a statement followed by "Mil", "The government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating conditions in Syria ."

Al-Kadhimi continued, "The situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market ."

He added that "the dollar exchange rate in the parallel market is currently stable, noting that the government is working to reduce the gap between the parallel exchange rate and the official rate to achieve greater economic stability ."

Currency markets are witnessing significant changes with the “sudden” rise in the value of the Syrian pound against the Iraqi dinar  link

RV UPDATE BY JULIAN ASSANGE, 17 DEC

 JULIAN ASSANGE

Global Currency Reset:

· Mon. 16 Dec. 2024 MarkZ: Tier 3 Confirmations coming in - FULLY PAID SPENDABLE MONEY!!

· Mon. 16 Dec. 2024 Wolverine: The Bond Platforms are getting paid, but it is a very complicated process and some may not be paid until January. Tier4b (us, the Internet Group) is a different story. They are going to Redemption Centers to get paid all at once and likely before Christmas.”

· Mon. 16 Dec. 2024 Ripple: Ripple USD Stablecoin (RLUSD) launches on Tues. 17 Dec. 2024

· Mon. 16 Dec. Elon Musk on X: Iraqi Dinar will be paid at it’s new revalued rate on Tues. 17 Dec. 2024.

· Tues. 17 Dec. 2024 XRP to go live.

· Iraq’s oil-backed Dinar has revalued in-country, with rates confirmed at $3.49 in Iraq and $3.28 in Kurdistan. Rumors swirl that Vietnam’s Dong has followed suit, with classified rates already circulating.

· Mon. 16 Dec. 2024 Jon Dowling: Iraq has completed their reforms and under article 77, all the budget provisions for oil revenues, salaries AND EXCHANGE RATES are covered. It started tomorrow the 17th, through Monday the 23rd.

· GLOBAL CELEBRATION UNDERWAY: Iraq is making waves with a global investment summit in Basra, hosting ambassadors from 140 nations, alongside major players like the World Bank and UNICEF. Insiders reveal these gatherings mark the dawn of a new financial era. Meanwhile, whispers suggest Syria’s currency has revalued, signaling a domino effect across the Middle East.

· BOOM: Florida Moves to Gold and Silver Currency! As the Federal Reserve falters, Florida takes a bold stand, igniting a movement for state-backed currencies. Add to that the Trump administration's explosive plans to make XRP, ADA, ALGO, and HBAR tax-free, and it’s clear the old systems are crumbling.

THOM SIELOFF: CBI FREEZING TERRORISTS FUNDS : Why is this happening now? @DINARREVALUATION

 

Exchange rate rises in local markets as dollar selling platform in Iraq nears completion, 17 DEC

 Exchange rate rises in local markets as dollar selling platform in Iraq nears completion

The dollar exchange rate recorded a new rise today, Tuesday (December 17, 2024), during trading on the main stock exchange and the local market .

Baghdad Today correspondent said that the dollar exchange rate recorded 150.950 dinars for every 100 US dollars in the main stock exchange in the capital, Baghdad .

He added that the selling price in the exchange offices recorded 152,000 dinars, while the buying price recorded 150,000 dinars for every 100 US dollars.

On Wednesday (September 4, 2024), the Central Bank of Iraq revealed the mechanism for ending the electronic platform for foreign transfers, while indicating that the placement of foreign transfer operations and meeting requests for the dollar are on sound paths consistent with international practices and standards . 

The bank said in a statement received by "Baghdad Today", that "the electronic platform for foreign transfers managed by the Central Bank of Iraq began at the beginning of 2023 as a first stage to reorganize financial transfers in a way that ensures proactive oversight of them instead of subsequent oversight by the Federal Reserve auditing daily transfers, and this was an exceptional procedure as the Federal Reserve does not usually do this, and a gradual shift was planned towards building direct relationships between banks in Iraq and foreign correspondent and approved banks, mediated by an international auditing company to conduct pre-audit of transfers before they are executed by correspondent banks ."

He added that "during the year 2024 and until now, 95% of the transfer process from the electronic platform to the mechanism of correspondent banks directly between it and Iraqi banks has been achieved, which means that only about 5% of it remains within the platform, which will be transferred using the same mechanism before the end of this year and according to the plan," explaining that "some expectations about potential impacts on the exchange rate and transfer operations are baseless, because the process will not be sudden or in one batch at the end of this year, but rather it was originally achieved during the past period with effort and careful follow-up, except for the remaining small percentage that will be completed in the coming short period ."

He stressed that "trade with the United Arab Emirates, Turkey, India and China represents about 70% of Iraq's foreign trade as (imports), which prompted the Central Bank of Iraq to find channels for transfer in euros, Chinese yuan, Indian rupees, and Emirati dirhams, through approved correspondent banks in those countries, and (13) Iraqi banks have actually begun conducting transfer operations with a pre-audit mechanism that has been agreed upon and approved in addition to transfers in dollars ."

He continued: "With the provision of channels for personal transfers for legitimate purposes and external purchases through electronic payment channels and international money transfer companies and cash sales to travelers, and the payment of cash dollars for incoming transfers to the parties and purposes specified in the Central Bank's published instructions ."

The Central Bank of Iraq stressed that it "put foreign transfer operations and meeting dollar demands on sound paths consistent with international practices and standards and the Anti-Money Laundering and Terrorism Financing Law," explaining that "providing the aforementioned channels for all purposes at the official dollar price makes this price the true indicator of economic practices, which is proven by the reality of price stability and control of inflation, and any other price traded outside those channels is an abnormal price that those with unorthodox or illegal practices resort to, who move away from official channels in their dealings, so they bear the additional costs alone by purchasing at a higher price than the official price to delude others with the difference between the official price and others  link