BARATEL: " THE RV HAPPENING NOW IN COUNTRY FOR IRAQI CITIZENS" @DINARREVALUATION #iraqidinar

 

FRANK26: "HISTORICAL... FOR A HISTORICAL EXCHANGE RATE", 18 DEC

 KTFA

FRANK26: "HISTORICAL... FOR A HISTORICAL EXCHANGE RATE"........F26

Securities and Exchange Authority discusses the mechanism for entering the digital exchange platform of the Abu Dhabi Market

 

12/16/2024

 

 Baghdad
 

Today, Monday, the Securities and Exchange Authority discussed with the Abu Dhabi Market the signing of a joint cooperation agreement to exchange expertise, while discussing the mechanism for entering the market’s digital exchange platform.

A statement by the Authority received by "Al-Eqtisad News" stated that "the Chairman of the Iraqi Securities Commission, Faisal Al-Haimus, met during an official visit to Abu Dhabi, the CEO of the Abu Dhabi Securities Market Group, Abdullah Salem Al-Naimi, where they discussed ways to enhance cooperation between the Iraq Stock Exchange and the Abu Dhabi Securities Market, and focused on signing a joint cooperation agreement aimed at exchanging expertise and developing work mechanisms in the financial markets."

He added, "The mechanism for the Iraq Stock Exchange to enter the digital exchange platform launched by the Abu Dhabi Securities Exchange in 2022 was discussed, as the exchange platform is the first digital exchange center in the region based on the mutual market access model, which currently includes 8 participating financial markets."

Al-Haimas stressed the "importance of this cooperation in enhancing the role of the Iraq Stock Exchange at the regional level, as well as in developing the investment environment in Iraq."

For his part, Al Nuaimi expressed “the Abu Dhabi Securities Exchange’s readiness to support this initiative,” noting that “cooperation with the Iraqi Authority will enhance the exchange of knowledge and expertise between regional financial markets, and enhance the role of financial markets in economic growth.”

He added, "We at the Abu Dhabi Securities Market believe in the strength of cooperation between financial markets, and we look forward to achieving joint successes with the Iraqi Securities Commission, which will contribute to developing financial markets and enhancing investment in the region."

It is noteworthy that Al-Haimas participated in the Middle East Investor Relations Association (MEIRA) Annual Conference for the year 2024, which was held in the UAE capital, Abu Dhabi, in partnership with the Abu Dhabi Securities Exchange.

The conference was attended by more than 800 leaders and experts, including representatives of 150 issuers from the GCC and Middle East countries, 33 financial markets, in addition to more than 150 participants in local and international financial markets.

The conference also provided a unique platform for exchanging insights and ideas among more than 80 experts from around the world, who discussed important issues affecting capital markets, such as the growth of GCC markets, the role of artificial intelligence in investor relations, and the integration of environmental, social and governance criteria into Islamic finance.

This joint cooperation between the Iraqi Securities Commission and the Abu Dhabi Securities Market reflects Iraq’s commitment to developing the investment environment and enhancing the role of financial markets in supporting regional economic growth.

LINK

WALKINGSTICK: IRAQI BANK FRIEND AKI UPDATE: " Iraq moving toward a basket" , 18 DEC

 Walkingstick 

 [Iraqi Bank Friend Aki update] 

 The USD is what the currency use to maintain the value of the IQD. 

 The USD value on the world stage has drawn down the value of many currencies over the last few years.

  That is about to cease.  

Hence, Iraq moving toward a basket...

The USD at auction has always been a means for the profiteering and smuggling of the USD outside of Iraq...Money transfers are a fact.  They have no restriction on your currency. 

 In country all payments in IQD only. Remittances, payments and transfers only with IQD value

BROTHERS TECHNOLOGY : "All arrows are pointing to Go time"!! @DINARREVALUATION #iraqidinar

 

FRANK26: "CBI BANKS FAR ADVANCED IN THE BANKING WORLD THAT DOES NOT INCLUDE A PROGRAM RATE," , 18 DEC

 KTFA

FRANK26: "CBI BANKS FAR ADVANCED IN THE BANKING WORLD THAT DOES NOT INCLUDE A PROGRAM RATE".......F26

Our Economy and Banks in 2025

12/16/2024

 

Samir Al-Nusairi

   

 

In the midst of the challenges and repercussions of the political and security events that our country and the countries of the geographical region are currently going through, the methodology of economic and banking reform enters a new phase in 2025 in cooperation and coordination between the government and the Central Bank, with insistence on continuing to implement the strategy of transitioning the economy and banking sector to recovery and development and achieving good growth rates according to the expectations of the World Bank and the International Monetary Fund in the coming year.
 

One of the most important steps to reform our national economy is the transformations. 
 

 The major task of structuring and developing government and private banks and concluding agreements with solid international consulting and auditing companies to accomplish these tasks in 2025. According to standard indicators that are relied upon to assess the strength of the economy and the soundness of the banking sector, the most prominent of which is the sufficiency of foreign cash reserves, which exceeded $100 billion, with a sufficiency of 140% to cover imports and the exported local currency, and the decline in the inflation rate to 3.7% after reaching its highest rates at the end of 2022, and the decline in external debt to a level not exceeding $19 billion.   

 

Emphasizing that the objectives of the Central Bank's monetary policy, as stated in its applicable law, are to achieve economic growth and stability, and that one of its main objectives is to achieve stability in the financial and monetary system, reduce inflation rates, and stabilize the prices of goods and services in the extremely complex economic, security, and political conditions that Iraq suffered from in 2023 and 2024.
 

 The government is making clear efforts to revolutionize the active economic sectors, namely agriculture, industry, tourism, customs and tax services fees, and to increase their share of the general budget revenues to 20%.

 

 Which led the Central Bank to take many measures in cooperation with the government to regulate foreign trade, control foreign transfers, regularity in the global financial and banking system, compliance with international standards, digital transformation in the banking sector, and work on preparing and launching its new strategy for banking reform and classification in all its basic links at the level of internal and external banking transactions, the most prominent of which is securing the US dollar for major and registered traders and for every trader, regardless of his classification, at the official price.

 

 This confirms, without a doubt, that the Central Bank’s strategy and measures during the years 2023 and 2024 achieved one of the basic objectives of monetary policy, which is to reduce the inflation rate and maintain the general level of prices of goods and services.

 

It must be noted that one of the most prominent indicators of the strength and recovery of our economy is what the International Monetary Fund recently expected, that the expected economic growth rate in 2025 will be 5.3%, while it contracted by 2.2% in 2022. The expected rate is higher than the growth rates in Morocco, Kuwait, Bahrain, Oman, Algeria, Jordan and Qatar. It is an indicator.

 

On the strength of our economy, which is an inevitable result of the economic and financial reform programs implemented by the government and the Central Bank since 2023.

 

LINK

EXCERPTS FROM MARKZ: Q & A WITH MARKZ, 18 DEC

 EXCERPTS FROM MARKZ

Member: Christmas is eight day away. I am not expecting it until after the inauguration but if it happens sooner….woohoo

MZ: A number of my contacts think it’s absolutely this week…..some think not until the 3rd or 4th week of January. But the majority still think its this week. We hope they are accurate.

Member: All the banks in my area require you have had an account for at least 6 months. Do you know of any other banks that don't require a 6 month account?

Member: If you are bringing in millions of dollars to their bank…you can bet they will open as many accounts as you want….imo

Member: will most banks accept Zim?

Member: The Zim will most likely be exchanged at military bases due to higher security and mostly military hold it. There is no limit, but you may get tranches if you hold a lot. This is what Mark has said.

Member: Do we know the best time to release the RV?

MZ: I was always told during non banking hours would be best…I have been told since the beginning that the best times are between 11Pm to 2 Am est……that is when the banking system around the world is the quietest. Preferably it will happen late Saturday night into Sunday morning…but it could happen at any time.

Member: is IQD and VND taxable?

MZ: I am still hearing the exchange is non taxable. I set aside extra just in case…just to be safe

WALKINGSTICK: IRAQI BANK FRIEND AKI UPDATE: " Iraq moving toward a basket" @DINARREVALUATION