The President of the Kurdistan Region, Nechirvan Barzani, concluded his two-day visit to the Iraqi capital, Baghdad, during which he met with a number of officials.
Barzani wrote in a tweet on the “X-Twitter” platform previously, “It was my pleasure to meet with the brothers, leaders and officials in Baghdad. In this context, we renew our firm commitment to supporting a stable Iraq that guarantees justice and fulfills the state’s obligations towards all its components.”
He added, “We affirm our keenness to strengthen relations between Erbil and Baghdad, in a way that achieves the public interest and establishes a more prosperous and stable future.”
In this article economic expert “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.”
Yes, “providing guarantees and international compliance” is all insurance related.
Remember our Pillars of Financial Reform? Well… here they are again. Investors in Iraq need to know that their funds in Iraqi banks will be protected and not subject to being stolen from corruption or in some cases, as from the past the events, “just disappeared!”.These past events of corruption left a nasty stain on the Iraqi banking system, to which they now have to overcome and are overcoming.
Now here is the real juicy part of the article and I quote “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors?
We know that from reading the White Paper of 2019 that conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place. Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement. The article goes on to also say and quote “this step will contribute to raising the status of Iraqi banks globally, “meaning that they will succeed in the process of having a name in international financial transfer operations, and gradually confidence between banks will be strengthened,”
Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement? Just asking
British Prime Minister Keir Starmer said that during his meeting with Prime Minister Mohammed Shia Al-Sudani, on Tuesday, he will announce a 10-fold increase in the volume of trade exchange, and will begin talks with him on the “return of migrants” agreement.
The British government website stated that “British Prime Minister Keir Starmer will host Prime Minister Mohammed Shia Al-Sudani today to hold talks on the return of migrants and announce an export deal,” according to the official Iraqi news agency.
“An export package worth 12.3 billion pounds will be announced during the visit of the Iraqi Prime Minister, which exceeds the volume of trade between the United Kingdom and Iraq by ten times compared to last year,” Starmer said, noting that “this will provide huge opportunities for British companies.”
He added that he would begin “talks with the Sudanese about the return of migrants agreement, and that securing the border is a vital basis for our change plan, so I am pleased to start talks on a dedicated return agreement between our two countries,” adding that “the agreement will contribute to the dismantling of the work of human traffickers by sending a clear message that if you come here illegally, you do not expect to stay.”
Prime Minister Mohammed Shia Al-Sudani arrived in Britain on an official visit that will witness the signing of agreements and memorandums of understanding in various tracks, especially in the economic, investment and security fields, according to a statement from the Sudanese Office.
😊In another article titled “CENTRAL BANK RENEWS DIRECTIVE TO SPREAD AND EXPAND FINANCIAL SERVICES AND ATMS” we read that the Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.
Why are these ATMs so important to our investment in the Iraqi dinar? They are important because the CBI told us they are an integral part of the Project to Delete the Zeros.
Here is an article from the past on this subject matter for all you newbies to my blog:
Rafidain Bank in Dhi Qar confirms that the introduction of ATM depends on the currency
December 10, 2014
Said the director of the Rafidain Bank in Dhi Qar Hussein Abbadi in a televised interview broadcast by the local Nasiriyah that the introduction of ATM in the markets and banks ARE SUBJECT TO THE IMPLEMENTATION OF THE DECISION TO DELETE ZEROS FROM THE IRAQI CURRENCY, pointing out that the Iraqi currency suffers from large inflation at the present time.
Oh…but they just told us in a recent article that inflation was just a little over 3%, and a VERY acceptable level. So now what? Oh…we remember…!
