DINAR REVALUATION

Tuesday, December 24, 2024

Holly Celiano's Christmas Update on Currency Rv: The RV will not occur until January 2025!! #iqd

Expected Rise In The Dollar... "Temporary Shock" Awaits The Iraqi Market, 24 DEC

Expected Rise In The Dollar... "Temporary Shock" Awaits The Iraqi Market

Economy |Today Baghdad Today – Baghdad The "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations expected, today, Monday, December 23, 2024, an increase in the dollar exchange rate during the next few days, following the announcement by the Central Bank of Iraq to stop the currency transfer window platform.

The head of the institution, Manar Al-Obaidi, said in a statement to "Baghdad Today", that "the suspension of the Central Bank's currency transfer platform, which was officially announced on 12/23/2024, will lead to a temporary rise in the dollar exchange rate in the market as a result of the prevailing state of fear, but things will return to normal with the beginning of the new year."

Al-Obaidi added, "This decision had been previously announced by the Central Bank, but such measures, when implemented, cause a shock to the market, leading to a temporary rise in the exchange rate, before the shock is gradually absorbed."

He explained that "the difference between the official and parallel markets will remain, but it will shrink as the situation stabilizes."

Economic expert Nasser Al-Tamimi warned, on 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. LINK

NADER FROM MID EAST: I FEEL IT'S VERY VERY CLOSE!!!, 24 DEC

Nader From The Mid East

I feel it's very very, we are very very very very close. Very close.

Like very close guys.

I feel like once they stop the auctions everybody is going to be happy about it. I think it's going to be stopping on the 28th...70% to 80% [chance].

The thing I saw and made me very happy...When you see the Saudis coming with their money, now we can trade their monies, the UAE and all the Middle East countries, almost. Turkey, Saudis, Kuwait, Qatar.

Now we can exchange our dinars with their dinars, durham, riyal, with anything like that. That's very big guys cuz the dollar...yuan Chinese, the euro is already there.

Now we have all continental of Europe...Middle East...United States and now it's missing a little bit of Africa and we're done.

Other ones like Canada does whatever the United States do. Australia same thing. That made me very happy.

That means soon we'll be in every bank in United States.

It will be tradable. If it's tradable it's going to gain a lot of values and quick.

MAJEED: IRAQ MUST RV INTERNATIONALLY IMMEDIATELY!! @DINARREVALUATION

New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies, 24 DEC

New Conditions From The Iraqi Central Bank For Buying And Selling Foreign Currencies

December 23, 2024 Baghdad/Iraq Observer Today, Monday, the Central Bank of Iraq set new conditions for buying and selling foreign currencies.   Below is the document:

https://observeriraq.net/wp-content/uploads/2024/12/IMG_9748.jpeg

https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/

DATE: 2024/12/22 Electronic payment companies / two accessories
Exchange and mediation companies selling and selling foreign currencies
5 / Digital payment providers

Due to the availability of all the requirements for appointing the agent mentioned in (Chapter Two /
First / The Requirements of the Agent) from controls
The work of the providers of digital payment services for a year 2020 and the fact that exchange companies are my category (A,B) and the mediation companies by selling and selling
Foreign currencies Venice (C) licensed from this bank and is subject to its supervision and monitoring; The following decides:

1- Allowing exchange companies Vinte (A,B) and mediation companies to buy and sell foreign currencies (C) Digital payment services / accessories to provide cash withdrawal service (POC) according to the following conditions:

1- The agency/ executor in the name of the company should be limited and not owned by natural people.

A- The agency's services are provided inside the company’s headquarters and its branches exclusively.

B- The company informs this bank when contracting with the digital payment service and providing it with a copy of the signed contract The two parties.

C- Closing the agency / port in the event that this bank withdraws the company's leave.

D- The agency's domestic payment service for the agency took a written pledge from the company wishing to contract with him not to own any
A shareholder / executive and operating outside the exchange of the exchange or mediation company.

2- In the event that one of the shareholders or director of the exchange and mediation companies has an agency / port in his name and works outside the headquarters

The company can integrate the agency / port with the company and allow it to transfer its ownership in the name of the company in exclusivity and inform this bank that
An exception to the blindness of this bank number (114/10/9) on 2/22/2022, which includes not transferring the ownership of agents/withdrawals outlets POC; In the event that the agent / the perpetrator wants to leave the work, the digital payment companies must end the contract and take
The appropriate procedures for them not to sell the agency's ownership and its transmission.

With appreciation. https://observeriraq.net/شروط-جديدة-من-المركزي-العراقي-لبيع-وشر/

MILITIAMAN CC HIGHLIGHTS NOTES, 24 DEC

MILITIAMAN CC HIGHLIGHTS NOTES

Summary

Highlights

⚖️ Rule of Law: Prime Minister Al Sudani reaffirms the government’s support for the Federal Supreme Court’s efforts to strengthen the rule of law.
🌍 Economic Diversification: Emphasis on moving away from an oil-dependent economy by boosting tourism, with references to Iraq’s rich cultural heritage.
🏦 Banking Reforms: Introduction of an electronic passport system and transition to a cashless economy are highlighted as steps toward modernization.
🌐 International Partnerships: The government is actively fostering international partnerships to bolster Iraq’s economy and attract foreign investment.
💱 Currency and Exchange Rate: Discussions surrounding the potential for a new exchange rate system and the implications of the Central Bank’s reforms.
🔄 Digital Transformation: Focus on the importance of a digital economy and compliance with international financial standards as a means to reduce corruption and improve financial operations.

Key Insights

📜 Government Support for Rule of Law: The government’s backing of the Federal Supreme Court signifies a commitment to legal reforms, which are crucial for establishing a stable political and economic environment. This move is expected to enhance investor confidence and facilitate the implementation of new laws that support economic development.
🌐 Tourism as an Economic Driver: Al Sudani’s focus on tourism highlights the government’s strategy to diversify Iraq’s economy. By promoting its ancient civilization and archaeological sites, Iraq aims to attract tourists, which could generate significant revenue and reduce dependence on oil exports.
📊 Shift Towards Digital Economy: The introduction of the electronic passport system and the transition to a cashless economy are indicative of Iraq’s efforts to modernize its public services. These initiatives are expected to streamline operations, improve efficiency, and reduce corruption, thereby fostering a more transparent and accountable government.
🏦 Reform of the Banking Sector: The Central Bank of Iraq’s reforms, including the establishment of correspondent banking relationships, are essential for integrating Iraq into the global financial system. These changes will facilitate foreign currency transactions and improve the overall efficiency of the banking sector.
📈 Potential for New Exchange Rate System: The discussion around a new exchange rate system reflects the Central Bank’s intentions to stabilize the economy. The anticipated adjustments may help mitigate inflationary pressures and restore confidence among investors and the public.
🤝 International Financing Support: The interest expressed by major international banks like JP Morgan to support Iraqi trade financing operations is a significant endorsement of Iraq’s economic potential. This relationship is expected to enhance Iraq’s access to global markets and investment opportunities.
🔄 Adapting to International Standards: Iraq’s commitment to aligning its banking practices with international standards is crucial for attracting foreign investments. By adhering to compliance regulations set by global financial institutions, Iraq aims to enhance its credibility and operational efficiency, ultimately leading to economic growth and stability.