You want to find out every perk, everything that they're going to do for you. First of all, how are you going to exchange my currency?
Are you going to charge me a fee to exchange it? They'll tell you, yeah, 1%, 2%, 3%. Wait a minute, before we even go any further, I got to ask you a question, do you think it's fair for you to charge me to exchange this currency when I'm going to put it in your account and you're going to make money with it right away?
Aren't you making money off my money? And then you may freeze my account for 30 days...You want to charge me for putting it in your bank? I tell you what, I've got one or two options.
I'm either going to say goodbye to you right now and go to another bank and see what they got to offer me or you're going to pick up the phone and drop those charges for me right now. It's that simple Mr. Bank officer. They're going to fire back at you that these are corporate rules and regulations. Yeah, they can be changed because I got a lot of currency. Do you want my business or not?
ANTI-MONEY LAUNDERING OFFICE: IRAQI AUTHORITIES FACE DIFFICULTY TRACKING DIGITAL TRANSACTIONS
The Deputy Director General of the Anti-Money Laundering and Terrorist Financing Office in Iraq, Hussein Al-Maqram, announced that the Iraqi authorities are facing difficulty in tracking digital transactions.
Al-Maqram said that the office is still working on updating the legal and legislative framework to meet emerging challenges.
He added, “Iraq is a critical area and is vulnerable to the growth of money laundering operations due to its heavy reliance on cash transactions in commercial transactions and slow progress in electronic payment operations, not to mention that the sales of the Central Bank of Iraq remain close to $300 million per day, which is a large number compared to the volume of goods entering Iraq.”
Al-Maqram said, “In light of these challenges, the relevant authorities in the Republic of Iraq are following several strategies to combat money laundering and terrorist financing using virtual currencies, including continuous cooperation and coordination with banking and non-banking financial institutions and reporting transactions of unknown origin, as well as preparing joint committees from relevant government agencies for the purpose of tracking down those dealing and speculating in them.”
(Am I missing something here. Isn’t the foreign correspondent banks providing the dollars for payment for imports.
They told us that dinars are sent to these banks in other countries, they then convert to dollars and make the payments directly.
No more currency auctions in the CBI.
So, why in this article are they telling us about sales of the Central Bank of Iraq remain close to $300 million per day?
These dollars no longer come out of the reserves.
Also, this article tells us there is still a heavy reliance on “cash transactions”.
What about all this electronic transfer stuff we have been reading about?
Are they just bullshitting us?
Why is there still so much cash being used for foreign business?
But this goes hand in hand with the three zero notes as I told you there will still be a need to have these larger notes for foreign trade even after the Project to Delete the Zeros is completed.
We also have to think about all the countries that have the three zeros notes now in their country’s foreign reserves.
So these older three zero notes are not going away. Ours will be valuable! )
📈 Iraq’s Economic Reforms: The Iraqi government is advancing financial reforms to restore the Dinar’s value.
🔍 Transparency Improvements: Iraq improved its ranking in Transparency International’s corruption perceptions report, indicating progress in governance.
💰 Rising Gold Reserves: Iraq has climbed the global ranks in gold reserves, now 28th among 100 nations.
💸 Dramatic Currency Fluctuations: The IQD recently saw a spike, with 1 million IQD suddenly valued at $14,000, indicating potential economic turnaround.
📊 Investment Opportunities: The recent fluctuations suggest a growing interest among investors in the IQD, potentially leading to economic growth.
🔄 Currency Simplification: The concept of deleting zeros from the currency is discussed as a means to stabilize the economy and improve purchasing power.
Key Insights
📉 Economic Reform Impact: The Iraqi government’s commitment to financial reforms is crucial for restoring confidence in the Dinar. This effort is seen in the approval of controversial laws that are now expected to facilitate economic growth. The focus on lifting purchasing power reflects a strategy to increase consumer spending and investment.
💼 Investment Climate Shifts: The sudden spike in the IQD’s value has created a buzz in the investment community. If this upward trend continues, it may attract foreign investments, which could lead to job creation and infrastructure development. The potential for the IQD to appreciate dramatically offers a unique opportunity for early investors.
🏆 Transparency as a Growth
Factor: Iraq’s improved ranking in the corruption perceptions report is significant. Transparency in governance can lead to better financial practices, reducing corruption, and fostering an environment conducive to investment. This progress is essential for long-term economic stability.
⚖️ Gold Reserves Significance: Iraq’s increased position in global gold reserves reflects a strengthening of its economic fundamentals. Gold is often viewed as a safe-haven asset, and an increase in reserves can bolster investor confidence in the Dinar and the overall economy.
📉 Fluctuations in Currency Value: The fluctuations in the IQD’s value, particularly the dramatic increase, indicate a potential shift in the financial landscape of Iraq. These changes can serve as precursors to more stable and predictable currency movements, which can encourage both local and international investment.
💵 Purchasing Power Restoration: The transition to a more stable currency system by deleting zeros can significantly enhance purchasing power for everyday Iraqis. By simplifying the currency, the government aims to reintegrate cash into the banking system, which can stimulate economic activity and consumer spending.
Green Oil ... A Basic Pillar For Achieving Food Security
Economic 2025/02/13 Baghdad: Imad of the emirate It is dependent on the achievement of food security by
improving the performance of the agricultural sector and the stimulation of industries, especially those that depend on agricultural and animal products, such as the manufacture of tomato paste, jams and dairy, and the production of meat, lumbar and woolen textiles, and leather industry, in a way that achieves the principle of integration between the sectors (industry and agriculture) as the most important sectors in increasing national income And his permanence.
In order to reach this goal, the government encourages the private sector to establish agricultural / industrial complexes or what is called "green oil".
The former Undersecretary of the Ministry of Agriculture, Dr. Mahdi Al -Qaisi, said:
Food manufacturing includes a group of industries that all depend on plant and animal agricultural products and marine and fish products, usually
food manufacturing is that it is one of the most prominent pillars of food security.
Al -Qaisi added, in an interview with "Al-Sabah", that the
increase in plant agricultural production and livestock in quantity and quality contribute to the advancement of food manufacturing outputs by
providing the initial material necessary for this industry and upgrading various preservation and manufacturing operations such as canning, drying, freezing, fermentation, etc., indicating that the
food industry aims to obtain On a product that meets the consumer's desires and ensures its health and nutritional quality.
Absorbing the Surplus
Regarding the goals of preserving and manufacturingfood, Al -Qaisi explained that it is the
conservation as much as possible for its natural characteristics away from pollution and changes that occur in their quality during storage and circulation, and to absorb the surplus of crops and agricultural products and manufacture them to find a balance between supply and demand and price stability, which
encouragesfarmers to produce more and at a continuous pace. He pointed out that
Food Manufacturing
maintains agricultural
crops from damage and prolonging their treasury life, and contributes to absorbingunemployment and creating many and varied areas of work.
Al -Qaisi pointed out that lunch
manufacturing is the optimal investment of agricultural raw materials and obtaining secondary products from manufacturing operations that constitute an added economic value, noting that
this reflects the change of the consumer food pattern, which reflects on reducingwaste and losing food and achievingeconomic feasibility
to face accelerated population increases and the increasing rise in food prices Globally.
Manufacturing Activities
And on the process of upgrading food industries in Iraq, between the agricultural expert: that the food industries sector in Iraq is exposed to a relatively long long period of time to stop in a number of factories and manufacturing activities for several reasons, the most prominent of which is commodity dumping, so it requires serious consideration in the issue of supporting and upgrading national food industries
To take its true position in food and economic security.
Industrial Crops
For his part, economic affairs specialist, Dr. Ahmed Al -Rawi, stated that
Iraq is one of the agricultural countries that are characterized by the production of crops that can be manufactured such as dates, diabetic beets, sesame and vegetables, again the
call for a number of industries that depend on these crops, which encourages farmers to demand the cultivation of industrial crops It helps its development. Al-Rawi told Al -Sabah:
The entry of agricultural products in manufacturing leads to the withdrawal of the surplus of agricultural crops at the time of the peak of its productive season, which maintains their prices from landing, usually food security for any country as part of its national security, and that
one of the procedures for supporting food security is is The establishment of advanced food industries helps to provide the individual-made foods, especially in times of environmental disasters, wars and crises. https://alsabaah.iq/110110-.html
Article: "AMERICA STOPS THE DOLLAR CASH TO IRAQ: WILL THE DOLLAR RISE AGAINST THE DINAR?"
Remember this is the use of CASH dollar. They will still have electronic transfer from the Feds of dollars to Iraq.
But this is a move that I believe is in agreement with the CBI to finally shut down the parallel market for good.
This comes on the heals of the issue with Rafidian bank’s continue smuggling of the cash dollars to Iran. This is an amazing article.
A “WOW!” article...The US is finally doing it. They should have cut off the dollars off years ago. We would be much farther ahead now in the RV process.
But now it is being done. A good sign for us investors.How will this impact the Iraqi economy?Seems to me the US wants the dinar to rise in value and this may be leading us to something VERY IMPORTANT.