FRANK26: "SUDANI SAYING YOU WON'T GET RIPPED OFF BY CBI BANKS", 20 DEC

 KTFA

FRANK26: "SUDANI SAYING YOU WON'T GET RIPPED OFF BY CBI BANKS".......F26 

Central Bank enhances the capabilities of the Banking Guarantees Company

 

December 18, 2024

 

The Central Bank of Iraq revealed that it has set a priority within its various strategies to enhance the capabilities of the Banking Guarantees Company. Stressing that one of the tools to support the banking sector is providing bank guarantees to enhance financial depth.

The Deputy Governor of the Central Bank of Iraq, Dr. Ammar Hamad Khalaf, said during a speech he delivered during the Eighth International Guarantee Conference held in Baghdad: Organizing this conference contributes to enhancing cooperation and achieving a comprehensive and sustainable vision for partnership between the banking and real sectors, indicating that developing the banking sector and increasing credit of all kinds depends on providing sufficient guarantees to owners of large, medium and small projects.
He added that the Loan Guarantee Company is one of the pillars of financial stability in Iraq, considering bank credit a basic pillar and a catalyst for economic growth and job creation.
The Deputy Governor added in his speech that the Central Bank of Iraq has prepared within its various strategies to enhance the capabilities of the Banking Guarantees Company, revealing the establishment of a committee from the Central Bank of Iraq with membership of the Private Banks Association to improve the performance of the Banking Guarantees Company.
It is worth noting that the Central Bank of Iraq has previously launched the National Lending Strategy, which focuses on providing financing for small and medium enterprises.

 

Central Bank of Iraq
December 18, 2024
Media Office

EXCERPTS FROM MARKZ, 20 DEC

 EXCERPTS FROM MARKZ

Member: Are we going to see a government shutdown Mark?

MZ: There are a lot of rumors when the government shuts down on Friday- things are going to rip…..My bond folks seem to think exactly that……sure am hopeful they are correct

MZ: Bond folks are still very excited and convinced we are exchanging by Christmas.

MZ: “The Central Bank of Iraq decides to add the Saudi Ryal and the Jordinian dinar”  I think this is the biggest story of the year. This story has me so excited. They are working on a smooth transition to this basket. These are the two biggest. Iraq said months ago they are going to base their currency on oil, resources, gold and a basket of other middle eastern countries currencies. This is how they are going to raise the value of the dinar. They are going to unpeg it from the USD and peg it to a basket of currency and their assets.

MZ: I am sure MilitiaMan and others are also extremely excited about this today.

GINGER:In America, it will start in Miami and then Reno & TIP: IF YOU HOLD XRP!! @DINARREVALUATION

 

FRANK26: "THE SHOCK IS A NEW EXCHANGE RATE... TO THE RURAL & TRIBAL AREAS OF IRAQ", 20 DEC

 KTFA

FRANK26: "THE SHOCK IS A NEW EXCHANGE RATE... TO THE RURAL & TRIBAL AREAS OF IRAQ".....F26

Get ready.. The exchange rate is set to rise again: The dollar selling platform will stop and “the shock is coming”

12/17/2024

- Baghdad

Economic expert Nasser Al-Tamimi warned, today, Tuesday (December 17, 2024), of a rise in the dollar exchange rate in Iraq in the coming days.

Al-Tamimi told Baghdad Today, "There are real fears in the Iraqi market of the continued rise in the dollar exchange rate after the Central Bank of Iraq stopped working on the platform," indicating that "this matter will constitute a shock, especially at the beginning of implementing the decision and will lead to a rise in the dollar, to increase demand for it in the parallel market."

He added that "after the platform is stopped, most traders, especially small ones, will depend on the parallel market to finance their foreign trade, while continuing to finance trade with Iran and Turkey in dollars, through illegal means," noting that "this is what will lead to the rise, and therefore practical steps must be taken to prevent this by the country's monetary authority, and urgently."

The Central Bank of Iraq revealed on Wednesday (September 4, 2024) 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 and 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 a 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 accredited 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 tracks 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 avoid official channels in their dealings, and bear the additional costs alone by purchasing at a higher than the official price to delude others with the difference between the official price and others."

LINK

 

Currency Exchange, Bond Redemption Protocols of the XRP Quantum Financial System

 Currency Exchange, Bond Redemption Protocols of the XRP Quantum Financial System:

***Beware of Scammers: There are platforms on Telegram saying you can set up your Quantum Bank Account now and receive payouts. Don’t fall for it – they want your personal information. Official Quantum Accounts will only be set up at Redemption Centers (for the public beginning Jan. 1 2025, for currency/Zim holders at the time of your exchange/redemption appointment). At that time they will give you a new phone and computer that will work with the new Quantum Financial System.

• Everyone who has bought foreign currency or Zim Bonds from a certified dealer will receive an email, text or phone call from Wells Fargo that contains a 800 number to call for your exchange/ redemption appointment. This 800 number can be sent to others for their use.

• When you call the 800 number you will be asked questions to confirm your identity. They will then route you to a Regional Call Center closest to your home, or to a location of your choice where you will make your appointment.

• Arrive at your appointment no sooner than ten min. before. Your appointment will last around 30 min.

• A Redemption Guide will meet you and help you throughout your appointment as you go through nine stations.

• Station One Know Your Client: present your ID (two picture IDs are recommended). You will be given a Resonance Scan of your Bio-metric vibrations (that will detect the bad guys). If you don’t pass the scan you cannot exchange or redeem.

• Station Two Currency Exchange, Zim Bond Redemption: You will hand over your currency and/or bonds to be verified and counted. It is recommended that you keep pictures of all your currency and bonds in case of questions about their validity. It is also recommended that you have the currency and/or bonds separated and accounted for on a cover sheet so there is no question about what you turned over.

• It is at Station Two where, if you have been given currency or bonds, you will hand over notarized and signed Gift Letters done by whoever gave you the currency or bonds. (If you do not have Gift Letters, you cannot exchange those bonds or currency you were given).

• Also at Station Two you will do your actual exchange. If you have Dinar, ask them for the Contract or Special Rate, whichever is higher.

• Station Three Security Protection: Your own biometric vibration is added to your Quantum Access Account and Quantum Card (QAAC).

• Station Four: You will supply a password and create your own Quantum Access Account and Card.

• Station Five: You will receive a Quantum Computer and Quantum Phone.

• Station Six: You will create your QFS Transfer Accounts.

• Station Seven: You will receive your QAAC ATM card.

• Station Eight: You can request gold/access backed cash, checks and Proof of Funds Letters.

• Station Nine Human Initiative Trust: You can present a 15 to 30 second snap s**t of your Humanitarian Project and then a 3 to 10 min. Project presentation. You give them a 3-4 page copy of your project and have them sign and date your second copy that you keep.

• You will need to tell them how much money you need for your project in the first 90 days, including what it will be used for.

• During your exchange you will be required to sign a Non Disclosure Agreement (NDA). That agreement will normally last 90 days. That NDA is reported, recorded and stored on your account on the Quantum Financial System. Read the NDA carefully before you sign it. If you violate that NDA your QFS account will be frozen and you will lose all of your money.

SOURCE: DINARCHRONICLES

MAJEED: " The article Tells you that exist a new Budget and a New Rate of the IQD" @DINARREVALUATION

 

FRANK26: "ELECTRICITY IS CRUCIAL FOR THE MONETARY REFORM, 20 DEC

 KTFA

FRANK26: "ELECTRICITY IS CRUCIAL FOR THE MONETARY REFORM"......F26

Minister of Electricity sponsors signing of contract to build 3 transformer stations in southern Iraq with international funding

 

12/15/2024

 

In Sunday, the Minister of Electricity, Ziyad Ali Fadhil, sponsored the signing ceremony of a contract to establish three secondary electricity conversion stations in Basra Governorate, with a capacity of 3×90 MVA and a voltage of 132/33 kV, funded by the World Bank.

According to a statement issued by the ministry, and received by Shafaq News Agency, the project will be implemented by a coalition of the Turkish companies (BEST and BETAS), while the German company Antik Cuba will supervise the consultancy of the project, which is scheduled to be completed within 18 months.

The three stations are distributed over vital areas in Basra. Al-Qibla station will be established in the governorate center to serve areas with high population density, Al-Ghadeer station in Al-Ghadeer neighborhood to meet the needs of residents and service projects, while Al-Faiha station in Shatt Al-Arab district will serve residential areas and service projects.

During the signing ceremony, the Minister stressed the importance of this strategic project, noting that the new stations will contribute to increasing the hours of electricity supply, resolving bottlenecks in the electricity grid, in addition to providing reliable power sources and achieving stability in the electricity system in the governorate.

It is noteworthy that this project comes within the Ministry of Electricity’s plans to develop the infrastructure of the electricity grid and improve the electricity service for citizens throughout Iraq.

LINK