TEXAS SNAKE
LATEST BANKER ANTICIPATION IS MONDAY MORNING IN COUNTRY SUNDAY MORNING HERE!!
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Sunday, January 5, 2025
FRANK26: "PLEASE KNOW THE DIFFERENCE BETWEEN PRIVATE BANK TRANSFERS AND FOREIGN CURRENCY AUCTIONS, 5 JAN
KTFA
FRANK26: "PLEASE KNOW THE DIFFERENCE BETWEEN PRIVATE BANK TRANSFERS AND FOREIGN CURRENCY AUCTIONS".....F26
Iraqi Central Bank Streamlines International Transfers
The Central Bank of Iraq (CBI) has announced the successful transition of external transfers from an electronic platform to direct operations by Iraqi banks through their international correspondent banks.
According to a CBI statement, this milestone, fully achieved at the end of December, aligns with global best practices, promoting a stable and secure financial system.
Key highlights include:
Modernisation Journey: Transfers evolved from a currency sale window to an electronic platform and now to correspondent banking systems.
Diverse Currency Support: Iraqi banks can now enhance balances with correspondent banks using various currencies, including USD, INR, CNY, EUR, AED, SAR, and JOD.
Global Integration: The system improves efficiency and aligns Iraq's financial operations with international standards, boosting regional and global financial relationships.
Investment and Trust: This achievement strengthens Iraq's appeal for investment and enhances international financial confidence.
The CBI attributed this progress to extensive technical planning, governmental support, and the contributions of its staff, Iraqi banking institutions, and international partners.
The bank reaffirmed its commitment to fostering good governance, compliance, and anti-money laundering measures, further solidifying Iraq's financial system.
(Source: CBI)
EXCERPTS FROM MARKZ, 5 JAN
EXCERPTS FROM MARKZ
MZ: What I am hearing on the bond side is they are expecting their payments on the 7th, 8th and 9th. This is from the majority of my bond contacts. We are hopeful this time it will actually occur.
Member: Those poor historic bond folks ….They are victims of “the boy who cried wolf” just like us.
MZ: Seems like a lot of scheduled to start on the 7th after the certifications on the 6th. Maybe it’s a coincidence and maybe it’s not.
Member: Maybe things are positioned for a “shotgun start” after the 6th???
MZ: Still quiet on CMKX …but there are a number of groups who are also positioning for this week. Hopefully for actual payments. They were told to “be prepared to execute” meaning to make sure accounts are ready and know the exact figures.
MZ: I am hopeful and think that at the bare minimum…information will start to get much better….starting midday on Monday. The holidays really cut into getting information.
MZ: In Iraq-It appears the final step in de-dollarization is happening..…that is what I was told…although my one contact told me to not worry and this is de-dollarization before the change. …but, The central Bank of Iraq is claiming they sold one billion in 4 days. They keep saying auctions have stopped but we are seeing evidence they are still moving foreign currency. We are not sure what is going on – but we are watching it. Things are quite confusing.
Iraq Stock Exchange reports record growth in 2024 as key economic indicators surge, 5 JAN
Iraq Stock Exchange reports record growth in 2024 as key economic indicators surge
Shafaq News/ On Saturday, the Iraqi Securities Commission (ISC) announced significant financial and economic milestones for 2024, citing notable growth in the Iraqi stock market and an expansion of its activities.
According to the ISC's annual report, the number of registered companies reached 112, categorized as follows:
- Listed Companies: 104 companies across regulated and secondary trading platforms, including non-disclosing entities.
- Unlisted Platform (ISX-OTC): 8 companies.
Government Bonds Activity
The market facilitated trading in several government bond types, including:
- Construction Bonds: Two issues in two categories.
- Reconstruction Bonds: Three issues in two categories.
- Completion Bonds: Two issues in two categories.
Bond Trading Highlights
1. Construction Bonds (Issue 2): 25,000 bonds traded, valued at 24.12 billion Iraqi dinars.
2. Reconstruction Bonds (Issue 1): 5 bonds traded, valued at 4.92 million dinars.
Stock Market Indicators for 2024
The ISC reported robust activity in stock trading:
1. Total Shares Traded: 809.7 billion shares, marking a 17% increase from 2023.
2. Trading Value: 690.4 billion dinars, a 3% rise year-on-year.
3. Executed Contracts: 182,967 contracts, reflecting a 17% growth.
Market Indexes
- ISX60 Index: Closed December at 1,073.84 points, a 20.23% increase from the previous year.
- ISX15 Index: Closed at 1,174.65 points, up 10.12% since its launch.
- Market Capitalization: Reached 22.33 trillion dinars, up 19% from 2023.
ISX-OTC Platform Activity
The unlisted platform (ISX-OTC) reported:
- Shares Traded: 5.98 billion shares.
- Trading Value: 2.59 billion dinars across 2,295 transactions involving three companies (Al-Warka Bank, Rabee Brokerage, Al-Karmal Brokerage).
- Market Capitalization: 105.7 billion dinars.
Updates from Listed Companies
- Annual General Meetings: 72 companies held meetings.
- Financial Reporting: 80 companies submitted annual reports for 2023.
- Capital Increases: 17 companies raised capital under corporate law.
- Dividend Distribution: 22 companies distributed dividends.
Optimism for the Future
Faisal Al-Haimus, the President of ISC, highlighted the positive outcomes achieved in 2024. "The strong indicators demonstrate our ongoing efforts to regulate the market, enhance transparency, and build investor confidence," he stated.
"Our goal is to establish the stock market as a cornerstone of Iraq’s national economy while attracting local and international investments."
Looking ahead, Al-Haimus pledged to enhance the market infrastructure and broaden public and private sector participation.
Upcoming Trading Session
The ISC announced that the first trading session for 2025 is scheduled for Tuesday, January 7, 2025, adhering to the official trading schedule.
FIREFLY: It's like they are telling exchangers a lot of the 3-zero notes are about to be returned. , 5 JAN
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Television is doing 11-page document, we've seen it before but they're reshowing it to us.
It's instructions to all the new money exchange centers that have been opened up on what they can accept and how much to give on damaged notes being returned by citizens. It's like they are telling exchangers a lot of the 3-zero notes are about to be returned.
FRANK: That's exactly what they're doing. Like I told you, these banks would be very essential...Collecting the 3-zero notes is going to be massive...
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