MAJEED: Iraq will NOT offer today its precious dollars in the controversial dollar auction, 30 DEC

 MAJEED

This is today article from 2 HOURS ago

The matter is resolved.. Iraq will NOT offer today its precious dollars in the controversial dollar auction, or what is called the window of selling foreign currency and the electronic platform. 20 years after the start of this measure, Ammar Khalaf, deputy governor of the Central Bank, confirmed in a statement to the network 964 that the dollar platform has become by closing in compliance with the date set by the governor to close it at the end of 2024, and denied behind all rumors about the possibility of extending the work on the platform , and spoke with great positives, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollar to traders, but what will happen?! According to the new system after the closure of the window, traders will have to deposit their money in dinars in Iraqi banks that have entered into partnerships with foreign banks “called correspondent banks” and these correspondent banks with American banks are responsible for all verifications and compliance procedures. The central bank will only be tasked with enhancing dollar balances in the accounts of banks that can pass through all these procedures. Many experts believe that this step removed the central bank from responsibility for any possible invoicing or attempts to smuggle currency, and the central bank has protected itself from any possible US sanctions with the dangerous dimensions it means on the country's economy

5:30 AM · Dec 30, 2024

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REINALDO JC:THE BLUEPRINT OF DR. SHABIBI IS THE END OF THE CURRENCY AUCTIONS @DINARREVALUATION #iqd

 

Half A Trillion Dinars For Baghdad Projects, 30 DEC

 Half A Trillion Dinars For Baghdad Projects

First  12/30/2024  Half a trillion dinars for Baghdad projects 51a076da-9e8e-4eb0-947a-0e2876bade6e

 Baghdad Provincial Council has prepared a project plan at a cost of (500) billion dinars to be implemented during the coming year, while Baghdad Municipality has pledged a qualitative shift in services during

(2025). Member of the Baghdad Provincial Council, Muhammad Al-Shaalan, told Al-Sabah: “The governorate has prepared its plan for next year at a financial cost of about (500) billion dinars.”

He added, "The aforementioned plan includes projects in various sectors, including water, sewage, roads linking districts and sub-districts to the center, and infrastructure in outlying areas."

He noted that "the focus will be on deprived areas that have not been included in the service effort and have not been included in the plans," indicating that (50) percent of the budget for the year (2023) has been allocated to road and bridge projects and investment and strategic projects, in addition to the fact that the budget is distributed between the Baghdad Municipality and the governorate, and a small share of it goes to areas Parties.    https://alsabaah.iq/107931-.html

TIDBIT FROM WOLVERINE, 30 DEC

  Wolverine

 “Guys due to my NDA on a certain platform I cannot talk about it but I can tell you that finally God has listen to us and this time it’s not disinformation. Just get prepared everyone because this time it’s coming.

 I’m extremely overwhelmed because not because they said this or that it’s because these people have been waiting for something and at long last it has arrived. Please pray and stay in faith. 2025 is going to be a year full of blessings for mankind. 

All protocols have been met and everything is ready to go. We just have to wait for the GO sign. I’m expecting the 1st or the 2nd of January. I’ve had many on a conference call and they all said that we are about to go anytime right now and many are pointing to the 1st and 2nd of January 2025. Not long to go guys. God bless.”

MAJEED: “the CBI has canceled It’s 20 years controversial auction!! @DINARREVALUATION #iraqidinar

 

Iraqi Oil Stabilizes At High Level At The Beginning Of Year-End Trading, 30 DEC

 Iraqi Oil Stabilizes At High Level At The Beginning Of Year-End Trading

Economy | Baghdad Today - Follow-up  At the beginning of the end of the year's trading, today, Monday (December 30, 2024), Iraqi oil recorded stability at an increase during the opening of trading for the week in global markets .

According to data reviewed by Baghdad Today, Basra Heavy crude recorded $70.19 per barrel, while the average recorded $73.29 per barrel, with a change rate of -0.16, respectively, for delivery in February 2025 .

The data also showed an increase in global crude prices, as British Brent crude recorded $74.30, while US West Texas Intermediate crude recorded $70.66 per barrel, with a change rate of +0.13 and +0.05, respectively .     Source: "Baghdad Today" + websites   LINK

MAJEED: “the CBI has canceled It’s 20 years controversial auction" , 30 DEC

MAJEED

yesterday on Iraqi TV channels said

“the CBI has canceled It’s 20 years controversial auction… and now correspondent banks and exchange currencies companies who adopted the new system and is connected with US banks will do the transactions and people will only be able to deposit Dinar” here is how Iraq’s approach to phasing out the controversial dollar auction and transitioning to a more modernized and compliant system is a significant step. While the Iraqi dinar (IQD) is not yet freely traded on Forex markets, the new system leverages correspondent banking relationships and stricter controls, allowing the country to operate effectively within the global financial system without direct Forex trading. Key Mechanisms Behind This Transition: 1.Correspondent Banks as Gatekeepers: •Iraqi banks will partner with correspondent banks (foreign banks with ties to U.S. banks). •These banks will handle verifications, compliance, and due diligence for dollar transactions, ensuring adherence to international standards, particularly anti-money laundering (AML) and countering the financing of terrorism (CFT). 2.Central Bank’s Role: •The Central Bank of Iraq (CBI) will enhance dollar balances in the accounts of compliant Iraqi banks. •By stepping away from direct dollar sales, the CBI shields itself from the risks of misuse (e.g., fraudulent invoicing or dollar smuggling) and potential sanctions. 3. Forex Independence Is Not Immediate: •Even though the dinar is not traded on Forex markets, the system operates through dollar reserves managed via correspondent banking. •The credibility and liquidity of this system depend on Iraq maintaining strong dollar reserves and partnerships with international banks. 4.Preparation for Broader Currency Integration: •This transition lays groundwork for a future where the dinar could potentially move toward Forex trading. •To reach that stage, Iraq would need greater economic stability, transparent fiscal policies, and market confidence.

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Majeed KSA

@majeed66224499

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This is today article from 2 HOURS ago The matter is resolved.. Iraq will NOT offer today its precious dollars in the controversial dollar auction, or what is called the window of selling foreign currency and the electronic platform.

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12:31 PM · Dec 30, 2024

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