The Kurdistan Regional Government opens bank accounts for 290,000 retirees, 28 JAN

 The Kurdistan Regional Government opens bank accounts for 290,000 retirees

Shafaq News / The Kurdistan Regional Government announced the opening of bank accounts for 290,000 retirees in the region, with the aim of facilitating obtaining their financial dues and enhancing the financial inclusion of retired citizens.

In a move aimed at improving the financial situation of retirees in Kurdistan, the regional government stressed in a statement seen by Shafak News Agency the need to resubmit bank account registration forms through the “Hesab” program.

This decision comes after many retirees received registration forms, where bank accounts will be reopened for them so that they can receive their financial dues through the banking system.

The statement pointed out that more than 290,000 retirees will benefit from this initiative, as they will receive new bank accounts that contribute to facilitating financial transfers and providing them with better banking services.

https://www.shafaq.com/ar/كوردســتانيات/حكومة-قليم-كوردستان-تفتح-حسابات-بنكية-لـ290-لف-متقاعد

MZ: my bank contacts were told to be prepared to work for the next few weekends!! @DINARREVALUATION

 

TIDBIT FROM CLARE, 28 JAN

 Clare 

 Question:  "Governor of the Central Bank of Iraq meets an official delegation from the United States" 

Quote: "During the meeting, they discussed banking and economic relations between the two countries and the upcoming visit of the Central Bank of Iraq delegation to Washington and their meeting with the US Chamber of Commerce and American companies next April."

ABU SNWE: "Trump continues to dry up the dollar from Iraq" ‪@DINARREVALUATION‬ #trump #trump2024

 

Al-Sudani receives the CEO of the Abu Dhabi Securities Exchange and sponsors the signing ceremony of a memorandum of understanding with the Iraqi Securities Commission, 2 8 J AN

Al-Sudani receives the CEO of the Abu Dhabi Securities Exchange and sponsors the signing ceremony of a memorandum of understanding with the Iraqi Securities Commission

Prime Minister Mohammed Shia Al-Sudani received on Monday, the CEO of the Abu Dhabi Securities Exchange Abdullah Salem Al Nuaimi.

A statement from the Prime Minister’s Office said that during the meeting, ways of joint cooperation in the field of exchanging experiences and developing mechanisms for expanding private sector activities to achieve economic growth were discussed.

The Prime Minister sponsored the signing ceremony of a memorandum of understanding between the Securities Commission and the Abu Dhabi Securities Exchange, where the head of the Securities Commission, Faisal, Wissam Al-Himas, and on behalf of the Emirati side Abdullah Al-Nuaimi, signed on behalf of the Iraqi side.

The memorandum of understanding includes axes for cooperation in several fields, the most important of which is strengthening and developing controls over daily trading in the market, brokerage companies, cooperation in the field of conditions and mechanisms of dual listing, and in the development and use of technological applications, applications and mechanisms of subscriptions and initial listings, as well as in the field of suspensions of trading on shares and re-tinding timings, and REIT fund licensing requirements .

The memorandum also included the exchange of experiences in the field of training, especially control and information technology activities, trading and clearing, digital transformation and financial analysis, deposit, fund and portfolio management and control, cooperation in the field of Islamic bonds and sukuk, deposit, settlement and independent financial services, and the requirements and mechanism of opening accounts for foreign investors from abroad.

In light of the memorandum, Emirati investments will be encouraged in the establishment of Iraqi companies with Emirati-Iraqi capital, and their circulation in both markets will be discussed. /End9

DINAR GURUS HIGH;IGHTS, 28 JAN

 DINAR GURUS UPDATE

Highlights

Summary

 Various experts, including MilitiaMan, Frank 26, and Sandy Ingram, provide commentary on the historical value of the dinar, the current economic situation in Iraq, and comparisons to Germany’s post-World War II economic recovery.

 The discussion highlights the importance of currency reform, the impact of oil prices, and the potential for a new exchange rate that could affect the value of the dinar. 

It also touches on Iraq’s latest oil discovery and mentions an executive order related to cryptocurrency signed by President Trump. 

• 📈 Historical Context: The dinar once had a value of $330 in 1987, emphasizing the potential for significant recovery.
• 🔄 Comparative Analysis: Iraq’s recovery post-invasion is contrasted with Germany’s rapid economic recovery after WWII.
• 🔍 Currency Reform: The introduction of a new dinar in 2003 aimed to stabilize the economy, but ongoing instability has hindered its strength.
• ⛽ Oil Dependency: Iraq’s economy is heavily reliant on oil, which influences the dinar’s exchange rate and overall economic health.
• 🔒 Security of New Notes: The Central Bank of Iraq (CBI) is maintaining tight security around new lower denomination notes, indicating a potential change in the exchange rate.
• 🚀 Cryptocurrency Developments: An executive order signed by President Trump may accelerate financial changes, impacting the broader economic landscape.
• 🌍 Future Prospects: Experts suggest that achieving a new exchange rate is crucial for Iraq’s economic stability and growth.

Key Insights

• 📊 Value Fluctuation of Dinar: The historical value of the dinar, particularly its worth in 1987, serves as a benchmark for potential recovery. The significant depreciation since then raises questions about the factors that could reinstate its value. Economic reforms, trade agreements, and the global oil market will play critical roles in determining its future.

• ⚖️ Lessons from Germany: The video draws a parallel between Iraq’s economic situation and Germany’s recovery post-WWII. While Germany successfully implemented currency reforms and integrated into the global economy, Iraq has faced persistent instability. The difference in outcomes underscores the importance of political stability, effective governance, and a commitment to economic reforms for sustainable recovery.

• 💵 Importance of Exchange Rate Reform: Frank 26 emphasizes that Iraq’s budget and major projects cannot function effectively under the current exchange rate of 1310. A new exchange rate is pivotal for facilitating economic development and attracting foreign investment. This reform is essential to align the dinar’s value with its purchasing power, enabling a healthier economic environment.

• 🌐 Oil and Economic Policy: The commentary highlights how oil prices significantly impact Iraq’s economy. The mechanisms by which oil prices are determined, including broker fees and transportation costs, illustrate the complexities within the oil market. A stable oil market is vital for Iraq, as fluctuations can directly affect the dinar’s value and the country’s fiscal health.

• 🔒 Security Measures Regarding Currency: The CBI’s stringent security measures around the new lower denomination notes indicate the importance of preventing speculation and maintaining confidence in the currency. The secrecy surrounding the new notes suggests that significant changes are forthcoming, which could lead to a more stable exchange rate if managed correctly.

• 🔑 Cryptocurrency Executive Order: The mention of an executive order on cryptocurrency suggests a shift in economic policy that could have ramifications for traditional currencies, including the dinar. Understanding how cryptocurrencies will integrate into the broader financial system is crucial for investors and the Iraqi economy, especially in the context of digital innovation.

• 📈 Future Economic Prospects: The discussions about Iraq’s oil discovery emphasize the potential for economic growth. However, without effective governance and strategic planning, these opportunities may not translate into tangible benefits for the Iraqi economy. The need for comprehensive economic policies that promote diversification and stabilize the dinar is essential for a sustainable future.

MNT GOAT:THE IQD NEEDS GAIN ITS VALUE & BE REINSTATED BACK TO THE FOREX FOR INVESTORS LEGALLY USE IT