Expert: Jordanian And Gulf Banks Control The Iraqi Banking Sector And Push It Toward Collapse, 7 JAN

 Expert: Jordanian And Gulf Banks Control The Iraqi Banking Sector And Push It Toward Collapse

 
    January 4 18:35
Information / private..
 
Economic expert Mustafa Akram Hantoush confirmed today, Saturday, that the
 
banking system is going through a major crisis, noting that
 
Gulf and Jordanian banks have now controlled the monetary and dollar sector inside Iraq.
 
Hantoush said in a statement to the Maalouma Agency,
 
"The Iraqi banking system is almost non-existent at the present time, as four or five Gulf and Jordanian banks control the movement of funds." He added,
 
"Four Jordanian banks submitted applications to enter the Iraqi market, and two of them succeeded in operating, while two others, Al-Ittihad and Housing, are still under study." He explained,
 
"This situation strengthens the dominance of these banks over the dollar, while local banks are facing major challenges, as some of them remain in the market, while others are forced to search for agreements with Jordanian and Gulf banks in order to continue working," adding,

"Whoever does not succeed... In reaching agreements with these banks, he will move towards merging or exiting the market.” He pointed out that
 
"the banking system was previously suffering from weakness in its structure, and
 
today it is in a state of complete collapse," stressing that
 
"it has become very difficult to obtain loans in Iraq easily, and
 
whoever succeeds in this needs relationships and mediation, which reflects the situation in Iraq."
 
"Stagnation and paralysis in the Iraqi banking system."
 
It is noteworthy that the United States imposed sanctions on 34 Iraqi banks in an attempt to restrict the Iraqi economy, which opens the way for five Jordanian and Gulf banks to enter the Iraqi market, with the aim of completely controlling the economy amid the silence of the Iraqi government. 25 d finished    
  
https://almaalomah.me/news/87219/economy/خبير:-المصارف-الأردنية-والخليجية-تسيطر-على-القطاع-المصرفي-ال

EXCERPTS FROM MARKZ, 7 JAN

 EXCERPTS FROM MARKZ

MZ: Well….under their current system –when the value changes it will not count at all on the limit….they are talking about 10K worth of transfers.

What you should be excited about is they have a mechanism in place to deal with the IQD. They are clearing telling us…and if you look through their list of currencies- it includes almost every single one that many of us in this community have picked up. I think you should be excited and not worried about this. .

Member: Hoping it changes to a whole new gold backed acct….

Member: Will Wells Fargo be one of the exchanging banks?

MZ: I am 100 percent sure Wells Fargo is a participating bank.

CLARE: Iraq is working diligently to establish security in the region! @DINARREVALUATION #iqd

 

Economist: The Government’s Measures Did Not Close The Gap Between The Official And Parallel Price Of The Dollar, 7 JAN

 Economist: The Government’s Measures Did Not Close The Gap Between The Official And Parallel Price Of The Dollar

 January 5 10:55  Information / Baghdad...Economic affairs researcher Diaa Abdel Karim said that  government measures regarding government and private banks and issuing decisions about exchange companies were unable to close the gap between the official and parallel dollar exchange rates.  Abdul Karim told Al-Maalouma,

 “The parallel exchange rate for the dollar is approximately 20,000 Iraqi dinars higher than the official one, as  it is a big difference with the official selling price at the Central Bank outlets, and it requires the government to intervene to take further measures to eliminate this difference.”".

He added,  "There is an urgent need to take measures that would stop any transactions in dollars at home, including ending transactions in dollars regarding the buying and selling of cars in trade showrooms, where citizens resort to buying dollars from banking outlets in order to go to official or private showrooms to buy a car." He stated,

“The government can open a window and allocate it to sell dollars for the purpose of buying a car,

 or

 impose strict control and force official exhibitions not to deal in dollars, in order to limit foreign currency to foreign transfers, travel, and imports, and

 the dollar is sold in official outlets only, in order to end the difference between the official and parallel prices.”. End25n  

CLARE: Iraq is working diligently to establish security in the region, 7 JAN

 Clare  

 Article:   "Al-Sudani receives a "special" message from Trump: Syria, Iran and the factions" 

 Quote:   "The source told Shafaq News Agency that Al-Sudani received a message from Donald Trump through a special envoy on an unannounced visit, which included several axes.  

The source pointed out that the most prominent axes are the necessity of containing and controlling weapons outside the framework of the state, stopping the activity of factions linked to Iran...Meanwhile, a government source...Iraq is working diligently to establish security in the region, and that the Prime Minister will present Iraq's vision in this regard during a visit to Iran."

JON DOWLING: "Iraq’s HCL Oil &Gas law ITS READY TO GO TO THE GAZETTE @DINARREVALUATION #iraqidinar

 

Al-Sudani: Building the army was the best option when terrorism struck Iraq, 7 JAN

 Al-Sudani: Building the army was the best option when terrorism struck Iraq

Baghdad / NINA / -Commander-in-Chief of the Armed Forces Mohammed Shia al-Sudani stressed: "The best option when terrorism struck Iraq was to build the army." 

Al-Sudani said in a speech at the central celebration of the 104th anniversary of the founding of the Iraqi army: "The Iraqi army went through turns and transformations, and lived for years as a prisoner of politics and absurd wars, due to the tyranny of the dictatorial regime, to fight immoral wars that exhausted it and made it disintegrated, and many men of the armed forces stood against the former regime at that time, and were exposed to execution and torture because of this position." 

He added: "After the dawn of freedom in Iraq, our army returned to the position it deserves, and to be a defender of its homeland and its people. With the fall of the dictatorial regime, the army is no longer a tool in the hands of the ruler to control the necks of the people, and this is one of the gains of our democratic system that does not allow monopolization of power or engaging in adventures that cause the destruction of the country. " 

He explained that: "When terrorism struck Iraq, the first and best option was to rebuild our army, gather all its professional national elements, and support the existence of the Iraqi state and its institutions. The units and formations of this constitutional national entity expanded to become the size of the challenges, the requirements of the stage, and the danger threatening the homeland." / End