Saturday, January 4, 2025
MONETARY POLICY COLLAPSES IN IRAQ.. INVESTMENT IN BANKS IS ALMOST NON-EXISTENT AND THE CENTRAL BANK IS GOING AGAINST THE TIDE – URGENT WITH COMMENTS OF MNT GOAT, 4 JAN
MONETARY POLICY COLLAPSES IN IRAQ.. INVESTMENT IN BANKS IS ALMOST NON-EXISTENT AND THE CENTRAL BANK IS GOING AGAINST THE TIDE – URGENT
(I can hardly believe they can print such FAKE news in Iraq. These components who don’t want change are publishing this stuff just like in the US who don’t want the Trump agenda of anti-corruption. Oh,,, they will try to hang on and lie as long as they can. We must all continue to pray and do our part to see to it that the TRUTH comes out and the revolution of anti-corruption continues both in Iraq the US and around the globe.)
Financial and economic expert Mustafa Akram Hantoush commented on the performance of the Central Bank of Iraq for the current year, today, Monday (December 30, 2024).
Hantoush said in an interview with Baghdad Today, ” The reality of monetary policies in Iraq is heading in the opposite direction to the process of building monetary policies, and there have been problems for years that have led to a clear collapse in Iraqi monetary policies.”
He added, “The banking system has been subject to near-annihilation for years. 32 banks are subject to sanctions, and the rest are banned from the dollar only, in specific currencies, and the mechanism is still unclear.”
He pointed out that “there are more than 70 Iraqi banks that do not lend, because the Central Bank has not set a clear lending policy in terms of loans, categories and guarantees.”
He added that “the policy of attracting deposits of more than 80 to 85% of the currency issued by the Central Bank, and it does not appear in the monthly transactions in the monthly banking system, so this currency is supposed to be offered as marketing deposits, so the banking system does not enter into this process,” indicating that “the investment policy of the Iraqi bank is almost non-existent in its investments.”
Hantoush explained that the investment banking operations policy is not defined in any direction, and the remittance policy also has a problem with the cancellation of the platform, ” therefore I see a clear collapse in Iraqi monetary policies.”
Hantoush called on the Central Bank to reform its monetary policy, set new standards to develop the Islamic banking system and go beyond standards that keep pace with the requirements of the current and future economic stage.
AJ : ..." Wait for the announcement from Al-Sudani and CBI of the Lower Notes and rate", 4 JAN
AJ
Today is 4 months since I made my 1st post. So now you know what to do.
Check the time in Iraq and check the rate on the CBI WS and wait for the announcement from Al-Sudani and CBI of the Lower Notes and rate.
If you do not see that
go and do something productive and enjoy your day.
go and do something productive and enjoy your day.
Reminder: In The CBI 3rd Strategic Plans 24-26
4. Improve the quality and structure of the Iraqi currency
8. Introduce new issues of high-quality currency to reduce the environmental impact.(lower notes)
9. Establish a laboratory to examine currency.
10. Automation of cash operations (counting and sorting .
I have posted this several times over the last 2 months.
scroll down to Dec 30th was the last repost.
SUDANESE ADVISOR REVEALS GOVERNMENT’S PHILOSOPHY FOR FUTURE OF NATIONAL ECONOMY WITH COMMENTS OF MNT GOAT, 4 JAN
SUDANESE ADVISOR REVEALS GOVERNMENT’S PHILOSOPHY FOR FUTURE OF NATIONAL ECONOMY
(Opps…they said it again…..the establishing of a sovereign wealth fund. Must be important…you think? They have been talking about this for a long time on and off. But now I strongly believe it is time.. They are going to do it.)
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the government’s philosophy for the future of the national economy, represented by the idea of establishing a sovereign wealth fund.
Saleh told {Euphrates News} that: “The initiation of the idea of a sovereign wealth fund is essential and is consistent with the renaissance of natural resources and undoubtedly comes in parallel with the development path strategy and its outcomes in generating a leading industrial renaissance in the national economy. This is Iraq’s outline in building the future of its economy for the twenty-first century and in two directions {the export-oriented development model and the other, and the development model directed towards maximizing the input-output tables and replacing imports within the national economy}.
He added, “Therefore, the sovereign wealth fund will adopt a vision that expresses the strength and basis of the interconnections between the outputs of national wealth from natural resources and the inputs of the production function in the national economy, which requires another model in managing sovereign wealth funds directed towards the interior.”
Saleh explained that “the sovereign fund will work to accelerate the diversification of the three basic sectors, which are the manufacturing industry, agriculture and services, in an advanced digital age. This is what the government program aspires to in its philosophy for the future of the national economy, which did not neglect the idea of partnership between state activity and market activity in sustainable development.”
TIDBIT FROM MILITIAMAN, 4 JAN
TIDBIT FROM MILITIAMAN
Iraq has done what they said they were going to do all along.
The Central bank implemented a new electronic system so that the central bank would be out of the dollar auction...
They now use the correspondent banks to facilitate internal and external trade... The central bank will no longer deal with retail...We can see January 2nd...there's not transfer abroad.
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