AJ : Update: Iraq operates a parallel market for dollar exchange rates within the country!! #iqd

 

EXCLUSIVE: FIVE IRAQI BANKS TO BE BANNED FROM US DOLLAR TRANSACTIONS WITH COMMENTS OF MNT GOAT, 21 FEB

 EXCLUSIVE: FIVE IRAQI BANKS TO BE BANNED FROM US DOLLAR TRANSACTIONS

By Maha El Dahan and Ahmed Rasheed

February 16, 2025

DUBAI/BAGHDAD, Feb 16 (Reuters) – Iraq’s central bank will ban five more local banks from engaging in U.S. dollar transactions, a move that comes after meetings with U.S. Treasury officials in efforts to combat money laundering, dollar smuggling and other violations, two sources with direct knowledge of the matter told Reuters on Sunday.

The move comes after meetings in Dubai last week between officials from the Central Bank of Iraq – which last year already banned eight banks from U.S. dollar transactions – and U.S. Treasury and Federal Reserve officials, one of the sources said.

(Ok, so it’s not 15 banks, only 5 from engaging in US dollars. These are the CBI restrictions and NOT US sanctions imposed on the banks in Iraq. I repeat NOT US sanctions! Many of these Iraqi news media outlets luv to exaggerate and tell you these are US sanctions. This is called FAKE news. Yes, even in Iraq.)

FIREFLY: They say it's the fastest in the world.!!, 21 FEB

  Frank26  

 [Iraq boots-on-the-ground report] 

 FIREFLY:Mr Sammy says the United States of America Federal Reserve and the Treasury praised Iraq...Sudani...banks...CBI, on our cash distribution system that we have in place now. 

  They say it's the fastest in the world.  Why would we need something so fast and advanced for 1310? 

 FRANK:  It was the US Treasury that established the cash distribution center...

I believe we're going to see the new exchange rate soon...This system...is in order to facilitate the distribution of the lower notes that are soon to be coming out.  This monetary reform is well organized.

MNT GOAT: They have not yet even opened the 2025 budget, there still can be a rate change coming!!

 

AL-SUDANI: THERE IS A DISCOURSE DIRECTED AGAINST THE SITUATION IN IRAQ AND THE COMMUNITY MUST CLARIFY THE PICTURE, 21 FEB

 AL-SUDANI: THERE IS A DISCOURSE DIRECTED AGAINST THE SITUATION IN IRAQ AND THE COMMUNITY MUST CLARIFY THE PICTURE

Prime Minister Mohammed Shia al-Sudani said today, Thursday, during his meeting with a number of Iraqi Christians residing in the US state of Michigan, that there is a discourse directed against the situation in Iraq, stressing that the Iraqi community has a responsibility to clarify images of peaceful coexistence in Iraq.

Prime Minister Mohammed Shia Al-Sudani received today, Thursday, a group of members of the Iraqi community in the US state of Michigan, from the Iraqi Christian spectrum.

His Excellency welcomed the attendees, referring to the Christian sons of Iraq and their high patriotism and adherence to their country. He stressed that the government looks at all components with justice and without discrimination, and is working to address the negative effects resulting from terrorism that targeted all Iraqis, with the aim of dismantling societal peace and creating division among members of society.

His Excellency also pointed out that the ISIS terrorism page united all Iraqis who lined up to stand against it and thwarted the terrorist plans. He reiterated that the government’s mission is focused on providing reasons for the return of Iraqis from abroad, especially the Christian component. Efforts are also continuing to enhance consensus among all components in the areas that need to be reconstructed and that were destroyed by terrorism, indicating that the government has taken several measures and decisions that serve and address the situation of Christians in their areas.

The following are the highlights of the Prime Minister’s speech:

The war on terrorism has disrupted development and delayed reconstruction efforts, and this has been a challenge faced by the government.

Our government assumed its responsibility under exceptional circumstances, and we focused on erasing the effects of the delay in providing services throughout Iraq.

We decided to establish a fund to rebuild Sinjar and the Nineveh Plain, and efforts are continuing to stabilize the population and provide services to them.

We put forward several projects in the Nineveh Plain Reconstruction Fund to serve those areas, and “Telkeef” and “Al-Hamdaniya” were outside the scope of the Fund’s work, so we presented a package of service projects to serve them.

We have submitted a draft law on international crimes, laws to protect diversity, and a strategy to criminalize and combat hate speech and racism, which gives reassurance to all Iraqi components.

We want to preserve the cultural and religious diversity that is a source of social wealth for Iraq.

We call on Iraqi Christian businessmen to participate in the development movement throughout Iraq.

Baghdad and all of Iraq are witnessing unprecedented development and commercial activity, and we invite businessmen to invest in the fields of hotels, restaurants and shopping centers.

There is a discourse directed against the situation in Iraq, to ​​distort the image of the state and the government, in an attempt to hinder state building and destabilize.

The Iraqi community has the important responsibility of clarifying the images of peaceful coexistence in Iraq between all components, and the historical depth of this coexistence.

MNT GOAT : "A BURNING ECONOMIC DEBATE.. IS RAISING THE EXCHANGE RATE THE MAGIC CBI SOLUTION FOR THE IRAQI ECONOMY?", 21 FEB

 MNT GOAT

"A BURNING ECONOMIC DEBATE.. IS RAISING THE EXCHANGE RATE THE MAGIC CBI SOLUTION FOR THE IRAQI ECONOMY?"

"Raise the exchange rate On the other hand, Deputy Governor of the Central Bank of Iraq, Ihsan Shamran, believes that "industry will not rise unless the state finds itself in it,

 and neither will agriculture unless the exchange rate is changed, as the current

rate is unfair, and the Iraqi exporter sells goods at any price and makes a profit because the dollar is very cheap." Shamran added in a press statement that "the cheap dollar is 

pushing some exporters to sell any commodity inside Iraq in exchange for the dollar, as the exchange rate should be between 2,000-2,500 dinars per dollar, considering

that the Iraqi currency is very strong due to its high balance." 

No, raising the "official" exchange rate to 2,000 - 2,500 is not the solution. In the article they actually mean lower the exchange rate making it less valuable. You have to read this last paragraph carefully. It would only cost more to buy.

 How would this help the consumer? 

The solution is to get off the sole peg to dollar. Then re-peg the dinar to a basket. What are they waiting for?

Their words not mine.....

FIREFLY: They say it's the fastest in the world.!!, @DINARREVALUATION #iraqidinarinvestor