DINAR GURUS UPDATE, 15 JAN

 DINAR GURUS UPDATE

Highlights

• 📈 Speculative Timeline for Revaluation: Mark Z indicates a potential revaluation of the Iraqi Dinar could occur between now and January 22nd.
• 🔒 Security and Stability: Frank 26 emphasizes that security and stability are crucial for the introduction of a new exchange rate.
• 🌍 Global Banking Integration: Jeff highlights the need for an internationally convertible currency to access global banking markets.
• ⚖️ Islamic Finance Concerns: Sandy Ingram discusses the limitations on trading the IQD, linked to Islamic financial principles and potential sanctions.
• 📜 Legislative Progress: Recent legislative changes, including amendments to the passport law and budget law, have been made to support economic reforms.
• 💰 Purchasing Power Promises: Iraqi officials, including Sedani, have promised to enhance the purchasing power of the Dinar, which is reportedly more valuable than the dollar within Iraq.
• 🏦 Transition to Asset-Backed Currency: Mark Z mentions that financial institutions recognize a shift toward an asset-backed currency system, incorporating gold.

Key Insights

• 📅 Speculation vs. Reality: The speculative nature of predictions regarding the Dinar revaluation raises questions about reliability. Although Mark Z’s timeline provides a sense of urgency and excitement, such forecasts often lack concrete evidence and could mislead investors. Understanding the broader economic context and waiting for official announcements might yield better insight into the actual timing of any changes.

• 🔒 Foundation of Stability: Frank 26’s assertion about the necessity of security and stability for currency reform underscores a critical factor in economic growth. Without a secure environment, financial markets struggle to thrive. This point suggests that for Iraq to effectively transition to a new exchange rate, both political stability and overall security must be prioritized, potentially requiring international support and investment.

• 🌐 International Recognition: Jeff’s focus on the need for an internationally recognized currency highlights a significant barrier for Iraq’s economic development. The implications of not having a convertible currency include limited access to foreign investments and challenges in engaging with global markets. The path to recognition may involve comprehensive economic reforms and increased transparency in Iraq’s financial systems.

• ⚖️ Ethical Considerations in Trading: Sandy Ingram’s discussion regarding the limitations on trading the IQD due to Islamic finance principles emphasizes the complexities of integrating modern financial practices with traditional values. This aspect of finance could create challenges for both local investors and international entities looking to engage with Iraq, necessitating tailored approaches that respect cultural values while fostering economic growth.

• 📜 Legislative Framework: The mention of legislative changes, such as amendments to the passport law and budget law, reflects a proactive stance by the Iraqi government towards economic reform. These changes may facilitate smoother economic operations and enhance investor confidence. A stable legislative environment is vital for fostering trust among both domestic and international stakeholders.

• 💵 Purchasing Power Dynamics: The assertion that the Iraqi Dinar is currently more valuable than the US dollar within Iraq raises intriguing questions about local economic conditions. If true, this could signal a substantial shift in economic dynamics, potentially positioning the Dinar as a stronger currency in the region. However, the sustainability of this purchasing power will depend on various internal and external factors, including inflation rates and international trade policies.

• 🏦 Shift to Asset-Backed Currency: Mark Z’s commentary on the transition to an asset-backed currency system aligns with global trends in financial markets that seek stability and trust through tangible assets. This shift could enhance the Dinar’s credibility, attract foreign investments, and stabilize Iraq’s economy. However, successful implementation would require robust regulatory frameworks and transparency to ensure the backing assets are managed effectively.

WALKINGSTICK: IRAQI BANK FRIEND AKI : THEY'RE DE-DOLLARIZING THE WHOME MIDDLE EAST! @DINARREVALUATION

 

IMPORTANT IRAQ NEWS: BIRTH OF A NEW BANKING ENTITY IN IRAQ., 15 JAN

 BIRTH OF A NEW BANKING ENTITY IN IRAQ.. A GOVERNMENT ADVISOR REVEALS THE DETAILS TO {EUPHRATES NEWS}

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed a study being conducted by a global consulting firm, commissioned by the state, to restructure Rafidain and Rashid Banks, which constitute 85% of the banking market in the country.

Saleh explained to Al Furat News Agency that “the two banks suffer from a historical legacy of challenges, which requires a comprehensive reform plan to reposition them within the map of effective and efficient banking work.”

Saleh added, “The study aims to establish a new banking entity specializing in government banking operations, to meet the government’s needs exclusively. This entity will contribute to achieving the goals of the unified treasury account, which is a crucial tool for regulating cash flows for public finances.”

He pointed out that “the study focuses on evaluating the legal status of the two banks, including property rights, evaluating assets and liabilities, and studying the requirements of a strategic partner if necessary, with a focus on developing the two entities to operate according to advanced financial technology that meets the requirements of the national banking market.”

He stressed that “the structural reform also aims to enhance the integration of the two banks into the national banking market and enable them to expand into global financial markets, especially in the areas of trade and investment financing for the private sector.”

He added that “the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus on digital payments.”

He concluded by saying: “The study is expected to be submitted to the higher official authorities in the coming months, within the framework of implementing the government’s financial and banking reform program, which aims to achieve a comprehensive economic renaissance and build modern financial institutions.”

Earlier today, Thursday, Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to discuss developing the work of government banks, in the presence of representatives of Ernst & Young for auditing and financial consulting.

The Prime Minister explained that the percentage of completion of the project to restructure Rafidain Bank has reached its final stages, stressing that it will enter into force within the next few days, within the framework of a plan that has been studied and implemented according to the established standards and specifications.

TIDBIT FROM MILITIAMAN, 15 JAN

 Militia Man  

If you're doubting your investment hang in there because what they're saying is truly something I've never seen in my 15 years of being here and the evidence is not from me and it's not from anybody else on the internet, it's directly...

from an economist and the central bank...I think it's huge guys.  It's exciting times...The stage is set.

 The cash cow is seriously coming to an end.  We already saw that the black market/parallel market/dollar auctions they're bye-bye...It's true.  It's in writing...Those that are out there suggesting that it wasn't going to happen, it already did...

Jon Dowling: Iraq is totally timing this for President Trumps return in one week!! @DINARREVALUATION

 

IMPORTANT IRAQ NEWS: The Central Bank Successfully Completes Its External Transformations.. Statement on Strengthening Balances and Stability, 15 JAN

 The Central Bank Successfully Completes Its External Transformations.. Statement on Strengthening Balances and Stability

The Central Bank of Iraq has succeeded in adhering to its program related to the transition from foreign transfers via the electronic platform to the work of Iraqi banks through their foreign correspondent banks.

 In a statement by the Central Bank, which Al-Masry reviewed today, Sunday, “The transition took place through stages that the external transfer process went through, starting with the window for buying and selling foreign currency and moving to the stage of the electronic platform for external transfers, and ending with operations to gradually enhance balances during the year 2024 and was fully achieved in the last week of this year.”

The Central Bank promised “the achievement of a radical transformation in line with the best international standards and practices to achieve a stable and secure financial system, and this work received international support and praise throughout the stages of its implementation.”

The statement stressed that “the new transfer methodology is consistent with international practices followed in this field, which separate the responsibilities and duties of the Central Bank from the obligations, responsibilities and role of commercial banks. From this standpoint, the Central Bank of Iraq will continue to enhance the balances of Iraqi banks with their correspondent banks in the US dollar, in addition to a group of other currencies, such as (the Indian rupee, the Chinese yuan, the euro, the Emirati dirham, the Saudi riyal, and the Jordanian dinar), and that this achievement has enhanced the efficiency and safety of foreign transfer operations, and their transition to the method followed in all countries of the world, which will make Iraq approach a new stage in its financial relations regionally and internationally and enhance the government’s orientations in expanding its economic relations and enhancing investment opportunities.”

He pointed out that “the efforts in this important achievement came through a series of ongoing detailed technical procedures and agreements, and great support from the Iraqi government, and that the bank will continue to follow modern methods in managing monetary policy in Iraq, in line with its essential role in achieving financial stability, and its position among central banks in the region and the world, which will be positively reflected in the confidence and support of the external financial sector of Iraq and international financial and economic organizations.”

The statement explained that the management of the Central Bank of Iraq seizes this important opportunity to express its thanks and appreciation to everyone who contributed to achieving this great accomplishment, first and foremost the cadres of the Central Bank of Iraq, the banking sector in Iraq, and all international partners.

The statement concluded by saying, “The Central Bank of Iraq expresses its full readiness to support all Iraqi banks that work to develop and enhance their performance in the field of governance, compliance, and combating money laundering in a way that positively reflects on the confidence of international and regional banks in them to contribute to strengthening the Iraqi banking system and the Iraqi economy in general.”

MILITIAMAN CC HIGHLIGHTS NOTES, 15 JAN

 MILITIAMAN CC HIGHLIGHTS NOTES

Highlights

Summary

In this video, the presenter provides an overview of significant developments in Iraq’s economic and political landscape. Central to the discussion are issues relating to financial reforms, banking restructuring, and the strengthening of Iraq’s international partnerships, particularly with the UK.

 The presenter emphasizes the government’s commitment to economic stability, the importance of public service salaries, and the ongoing efforts to enhance the country’s financial standing on a global scale.

 Key events include the Central Bank of Iraq’s temporary suspension of electronic payment services and the government’s support for financial reform packages.

 The video also highlights Iraq’s recent chairmanship of the Group of 77 and China, showcasing the country’s diplomatic achievements. Overall, the content underscores a narrative of progress and strategic partnerships aimed at fostering economic growth and stability for Iraq.

• 🌕 Full Moon Insight: The presenter notes the significance of the full moon on January 13, 2025, and how it coincides with various economic developments in Iraq.
• 🏦 Banking Reforms: The restructuring of Iraq’s banking system is portrayed as a decisive step towards improving Iraq’s financial situation and enhancing its global standing.
• 🗳️ Political Consensus: The State Administration Coalition expresses support for financial reforms, emphasizing unity in addressing employee salary issues.
• 💼 UK Partnership: Iraqi Prime Minister Al Sudani seeks strategic partnerships with the UK, highlighting the importance of British expertise in infrastructure and economic projects.
• 📈 G77 Chairmanship: Iraq assumes the chairmanship of the Group of 77 and China, marking a significant diplomatic achievement and positioning Iraq as a key player in international economic discussions.
• 🏛️ Parliamentary Actions: The Iraqi Parliament is actively engaged in discussions about budget amendments, focusing on critical issues such as salaries and tax reforms.
• 🔄 Technological Advancements: The launch of an electronic reservation system by the Civil Status and Passport Directorate aims to streamline citizen transactions, signaling a move towards modernization.

Key Insights

• 📊 Economic Stability as a Priority: The commitment of the Iraqi government to financial and economic reforms suggests a strategic focus on long-term stability. By addressing issues such as employee salaries and banking restructuring, the government aims to build public trust and confidence in its financial systems. The emphasis on dialogue and consensus among political factions indicates a shift towards more collaborative governance, which is essential for fostering economic growth.

• 🤝 Strengthening International Partnerships: Iraq’s desire to enhance its relationship with the UK is significant for various reasons, including historical ties and mutual economic interests. The Prime Minister’s visit underscores Iraq’s commitment to attracting foreign investment and expertise, particularly in infrastructure development. This partnership could serve as a catalyst for broader economic cooperation and stability in the region.

• 🏦 Banking Sector Restructuring: The ongoing reforms in Iraq’s banking sector are crucial for improving the country’s global financial standing. By restructuring major banks and aligning with international standards, Iraq aims to foster a more competitive and efficient banking environment. This move is essential for restoring confidence among investors and facilitating smoother transactions within the global financial system.

• 🗳️ Political Stability and Economic Reform: The lack of political contention regarding employee salaries in the Kurdistan region reflects a growing consensus on essential reforms. This political stability is vital for implementing economic policies that benefit citizens and support the government’s broader development agenda. The focus on collaboration among various political factions is indicative of a maturing political landscape in Iraq.

• 🌐 Global Economic Positioning: Iraq’s chairmanship of the Group of 77 and China represents a significant diplomatic achievement. This position allows Iraq to advocate for the interests of developing nations within the United Nations framework, enhancing its negotiating capacity on economic issues. The recognition of Iraq as a key player in international discussions could open doors for investment and economic support from other nations.

• 📈 Technological Advancements in Governance: The introduction of an electronic reservation system by the Civil Status and Passport Directorate signifies a step towards modernization and efficiency in public services. By leveraging technology, the government aims to improve citizen transactions and administrative processes, which is essential for enhancing overall governance and service delivery.

• 📅 Upcoming Legislative Actions: The ongoing discussions in the Iraqi Parliament concerning budget amendments and financial matters indicate a proactive approach to addressing economic challenges. By focusing on issues such as salary payments and tax reforms, the government is laying the groundwork for a more sustainable fiscal policy that aligns with the needs of its citizens.

In conclusion, the video encapsulates a transformative period for Iraq, marked by strategic reforms, international partnerships, and a commitment to economic stability. 

The government’s focus on banking reforms, technological advancements, and political consensus is indicative of a forward-looking approach aimed at fostering growth and improving the quality of life for its citizens. As Iraq navigates these changes, the emphasis on collaboration and modernization will be pivotal in shaping its future trajectory.