TIDBIT FROM MNT GOAT, 27 DEC

 Mnt Goat   

 Article:  "THE DOLLAR MARKET IS ON “ONE LEG”.. A ​​NEW MECHANISM AND THE EXCHANGE RATE IS THREATENED!" 

 ... they are just telling us that there is a process in place to change-out the dinar to the lower denominations and effect the rate as part of this process without causing havoc. A higher, sudden RV, if not done appropriately would cause havoc

Dinar Revaluation: Essential Tips for Your Exchange Appointments

Good news for Kurdistan employees.. Your salaries for October 2 are on the way, 27 DEC

 Good news for Kurdistan employees.. Your salaries for October 2 are on the way

The federal government intends to finance the salaries of Kurdistan employees for the month of November in the coming few days.

The representative of the Patriotic Union of Kurdistan bloc, Dr. Bryar Rashid, confirmed in a statement to the official website of the Patriotic Union of Kurdistan, that “the information we have indicates that the federal government will finance the salaries of employees soon, and we hope that the Kurdistan Regional Government will reach a final agreement with the federal government to end the problem of paying the salaries of employees in the Kurdistan Region for the coming year.”

The Federal Ministry of Finance sent more than 631 billion dinars as allocations for salaries of employees in the Kurdistan Region for last November, but the Kurdistan Regional Government confirmed that this amount is not enough to pay salaries and it is waiting for the rest of the funding to pay employees’ salaries.

DINARLAND UPDATES, 27 DEC

DINARLAND UPDATES

Summary

Here are the latest updates and insights surrounding currency revaluation, particularly the Iraqi Dinar.

There are many updates from multiple intel sources regarding the Iraq Dinar and its potential revaluation. 

Key highlights include reports of a possible new exchange rate of $3.92, the ongoing transition to digital banking in Iraq, and significant changes in Iraq’s banking operations that suggest a possible end to the previous auction system. Various experts express optimism about Iraq’s economic future, citing a strong oil sector and the introduction of non-oil revenue streams. 

Highlights

• 📈  Potential New Rate: Reports suggest a potential new exchange rate of $3.92 for the Iraqi Dinar as contracts are being redone.
• 💳 Digital Banking Transformation: Iraq is moving towards digital banking, which is expected to improve financial control and efficiency.
• 💼 Contractor Engagement: Iraqi banks are reaching out to clients, indicating a growing interest in managing new wealth.
• ⚖️ Currency Value Changes: The Iraqi government is reportedly poised to make significant changes to the currency’s value, particularly in the second half of December.
• 🌍 Natural Resource Ranking: Iraq has been ranked ninth globally in terms of natural resources, which may contribute to its economic reforms.
• 🛢️ Oil and Non-Oil Revenues: There is a push to enhance non-oil revenue contributions to the national budget, reflecting a diversifying economy.
• 🚫 End of Auctions: The cessation of the Central Bank of Iraq’s auctions is seen as a crucial step towards stabilizing the currency.

Key Insights

• 🔍 Market Speculation and Contractor Reports: The discussion around the potential rate of $3.92 for the Iraqi Dinar reflects ongoing speculation in the market. While these figures are based on intel from contractors, they highlight the uncertainty and fluidity of currency valuations in Iraq. This speculative environment requires investors to remain cautious and conduct thorough due diligence before making financial commitments.

• 💡 Digital Banking as a Catalyst for Change: The transition to digital banking could revolutionize Iraq’s financial landscape. By improving transparency and reducing corruption risks, digital banking can enhance the efficiency of monetary transactions and foster a more secure economic environment. This evolution may also attract foreign investment, as investors often seek stable and transparent banking systems.

• 📞 Increased Engagement from Financial Institutions: The reported outreach by banks to individuals, regardless of their account balance, signifies a shift in the financial landscape of Iraq. This proactive engagement suggests that financial institutions anticipate a surge in wealth management opportunities, driven by potential currency revaluation and economic growth. It also indicates a growing recognition of the importance of personal finance management in the region.

• ⏳ Critical Timing for Currency Adjustment: The second half of December is identified as a crucial period for Iraq’s economic practices. The suspension of credit and lending practices is a strategic move that may set the stage for a currency revaluation. This timing is essential as it aligns with broader economic reforms aimed at stabilizing and enhancing the value of the Iraqi Dinar.

• 🌱 Broader Economic Diversification Efforts: The mention of non-oil revenues contributing significantly to Iraq’s budget indicates a shift towards economic diversification. By reducing reliance on oil, Iraq aims to create a more resilient economy that can withstand fluctuations in global oil prices. This diversification is crucial for sustainable economic growth and may improve the overall stability of the Iraqi Dinar.

• 🌐 Strategic Infrastructure Projects: The Development Road Project is highlighted as a vital initiative that could strengthen Iraq’s economic ties with regional markets. This project not only aims to enhance trade routes but also positions Iraq as a commercial hub that can leverage its natural resources effectively. Such initiatives are essential for long-term economic stability and growth.

• 📊 Potential for International Currency Pairing: The introduction of foreign currencies for transactions suggests a move towards establishing a more robust international presence for the Iraqi Dinar. By pairing the Dinar with other currencies, Iraq can enhance its global trade capabilities and improve its economic standing internationally. This shift may also pave the way for future currency stabilization and growth.

FRANK26….12-23-24…….12-31-24…STOP

Al-Sudani Meets the Chairman of the National Commission for Accountability and Justice. 27 DEC

Al-Sudani Meets the Chairman of the National Commission for Accountability and Justice

Prime Minister Mohammed S. Al-Sudani met today, Thursday, with the Chairman of the National Commission for Accountability and Justice, Mr. Bassem Mohammed Al-Badri, and the members of the National Commission for Accountability and Justice.

The Prime Minister's Media Office stated in a statement received by the Iraqi News Agency (INA), that "Prime Minister Mohammed Shia al-Sudani received the head of the Supreme National Commission for Accountability and Justice, Basem Mohammed al-Badri, and the members of the commission."

During the meeting, discussions focused on the work of the National Commission for Accountability and Justice over the past years in achieving transitional justice in Iraq, addressing the aftermath of the dark era and the grave violations against humanity caused by the policies of the Ba’ath regime. The discussions also touched on holding accountable those responsible for crimes against the Iraqi people during that period, as well as the remaining tasks of the National Commission for Accountability and Justice in enforcing the law and fulfilling its mandated objectives as established by its founding principles.

The Prime Minister directed the Chairman and Accountability and Justice Commission members to submit a detailed report to the government outlining their procedures, accomplishments, and the remaining tasks specified by the Constitution and applicable laws. This directive aligns with the political agreement paper in the government program approved by the Council of Representatives on October 27, 2022.

The Prime Minister emphasized the government’s commitment to closely monitoring developments in Iraq regarding the presence of the dissolved Ba’ath Party or any entity associated with the party or its hostile ideologies, which destroyed Iraq and inflicted suffering on its people. He affirmed that such matters would be addressed by the applicable Iraqi laws.

TIDBIT FROM MARKZ, 26 DEC

 MarkZ  

 [via PDK] 

 Article: “An expected rise in the dollar:  temporary shock awaits the Iraqi market” 

 this is talking about the end of the auctions...One thing that will solve all their worries is an upward reinstatement or revaluation close or higher than the US dollar.

 Article:  “Iraq Stock Exchange first with the volume of trading between Arab Markets” 

  it only launched a year or so ago…but already it’s the largest trading market in the middle east. This one is huge.

 They are setting themselves up as a regional leader - a world leader…and what is going to be important? 

 They need a currency that matches the region. That rate bar is high when you look at Kuwait and Bahrain and ll of the other currencies values over there.