Wednesday, February 26, 2025
NEW REFORM PLANS FOR THE BANKING SECTOR IN IRAQ , 27 FEB
NEW REFORM PLANS FOR THE BANKING SECTOR IN IRAQ
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, stressed that achieving a unified vision to study the conditions of banks in Iraq requires the integration of the national banking market within a homogeneous framework aimed at enhancing the stability of the national financial system and developing its performance in the areas of credit, digital payments, and financing economic development.
Saleh said in a special statement to {Al Furat News}, “The first vision focuses on the importance of achieving integration between national banks in a way that enhances their role in supporting the Iraqi economy, pointing out that this requires updating the financial infrastructure and adopting modern technologies to meet the requirements of the era.
The second vision, according to the financial advisor, is related to developing two comprehensive reform plans targeting the public and private banking sectors, with the aim of improving the performance of these institutions in accordance with international standards. He explained that the reform will include improving governance and financial management and enhancing transparency, which will facilitate the involvement of Iraqi banks in the global financial relations network.
Saleh added that the direct goal of banking reform is to enable Iraqi banks to deal more effectively with the outside world, ensuring economic openness and attracting foreign investments, as well as strengthening Iraq’s position on the international financial scene.
This trend comes in light of the government’s ongoing efforts to develop the financial sector and enhance its role in achieving sustainable development and supporting the national economy, as banking reform is viewed as an essential step towards achieving these goals.
STATUS OF THE RV , PART. 2 BY MNT GOAT, 27 FEB
STATUS OF THE RV , PART. 2
So, what is so stupid about watching the period of mid-March for the release of these budget tables if, in fact we even should care about watching them for the RV event?
The article is just telling us the modified 2025 budget tables were passed from the Finance Committee (part of the Council that does the budget) to the rest of Al-Sudani’s Council (his cabinet) for review and vote. This usually goes quick since it was a Council minister that prepared them in the first place.
But the tables won’t even make it to the Council till mid-March. They certainly will not become public at this time.
The next step is to pass them on to Parliament for up to three sessions of review and discussion.
Then they try to take a vote to pass them into law. So, it is the Council of Ministers that will get the budget tables in mid-March not Parliament and this part of the budget still has to be passed to Parliament for debate and discussion.
This could take months and months more. When has Parliament ever done anything on time and quickly?
There are always obstacles and these budget tables could very well even get kicked back to the Council for changes. Ramadan holiday also this year, starts Saturday, March 1, 2025. It ends at Saturday, March 29 2025. Ramadan month this year has 29 days.
Good Luck with getting anything passed in Parliament in March….lol… lol… lol… Another obstacle is they could also avoid getting a quorum over disputes and that would again hold up the voting process in Parliament to vote. We have witnessed these many times.
As time passes more and more will want more and more added to the budget and so this could also delay the process.
Yes, the tables could get kicked back to the Council again for more changes. The article says and I quote “noting that the Council of Ministers will vote on the tables without delay and then send them to the House of Representatives for voting on them.” How long will Parliament take. Surely it will be way beyond mid-March. In fact it probably won’t even get the tables until after mid-March. Can’t these intel gurus even read? Did they attend 1st grade even?
So, in conclusion these intel gurus are going to use this event, and others like it, to string along their little silly band of idiot followers (yes, I mean you TNT idiot Tony, Frank26 along with the Big “Stupid” Call Bruce) who will cheerlead their way to nothing come June, when maybe these budget tables may have a chance of passing in Parliament by then.
Okay, so then they finally pass and still no RV rate as they expected. We still sit with no RV. Then what? What do the gurus then tell you?
THE CENTRAL BANK REASSURES CITIZENS VIA “BAGHDAD TODAY”: NO INSTRUCTIONS TO PREVENT THE DELIVERY OF “DOLLARS”, 27 FEB
THE CENTRAL BANK REASSURES CITIZENS VIA “BAGHDAD TODAY”: NO INSTRUCTIONS TO PREVENT THE DELIVERY OF “DOLLARS”
A responsible source in the Central Bank of Iraq denied, today, Thursday (February 20, 2025), the issuance of instructions to prevent citizens from receiving any amount in hard currency from banks.
The source confirmed, in a statement to “Baghdad Today”, that “the talk about issuing instructions from the Central Bank to prevent the delivery of any amount in hard currency is incorrect,” noting that “there is no shortage of hard currency, especially the dollar, and that citizens receive their money normally.”
The source, who requested anonymity, added that “the process of citizens depositing their money, whether in dollars or local currency, continues on a daily basis in government banks and others, and there are no fears of a shortage in the dollar reserves in Iraqi banks during the next stage.”
This denial by the Central Bank comes amidst rumours about restrictions on the delivery of dollars to citizens, in light of the economic challenges facing the country.
The market has been witnessing fluctuations in the exchange rate of the dollar against the dinar for some time, which has raised concerns among citizens and traders about the possibility of imposing restrictions on dollar transactions.
STATUS OF THE RV , PART. 1 BY MNT GOAT, 27 FEB
STATUS OF THE RV
Can you believe it that February is almost gone and moving on to March already. I can look out the gasthaus window and see the snow-capped mountains. Soon the pure spring water will be flowing from the melting snow and then the warmer weather will appear.
Spring will be here and not soon enough. Isn’t God wonderful in bringing us the seasons? But as we go through he times of change we can see God’s hand at work in many different ways. It seems every day I watch the news it's like Christmas filled with a new set of gifts again.
Thank you, Blessed Lord, for all You are doing to FREE the World. It won’t be long now before the European Union falls apart. How can it last when its main objective was never really all about bringing abundance and prosperity to a FREE Europe but to control all of Europe under one government, the beginning blueprint for the “One World Government” concept of the United Nations.
A total failure because it enslaves the people through mandates and socialists’ taxes rather than prosperity through freedom.
No, the Iraqi RV did not happen nor do I see a real end in sight. There are just too many moving parts and variable right now to see the end. But Reinstatement will happen and I will explain to you today why I am hopeful for a breakthrough soon.
This is why I listen to the modern day prophets daily. This is my daily dose of joy too. Many ask how can we trust their words? Simply put, we don’t. We put them to the test and if they pass the test over and over again, then we trust them going forward.
So far, all the prophets I bring you have proven themselves to us and so I would not bring them to you if I did not trust in them myself. I also recommend highly that you take the time to page through the Political Section and select news that interest you.
As citizens of a free society, we are obligated to be responsible to supply a check and balance on our government. This only comes through educating yourself of what the hell they are doing. Don’t let them lead you, instead you must take the lead and challenge their policies.
Let’s get on with today’s news…
😊 Seems in the dinar investment we have had many seasons of our own too. Seasons of joy and then disappointment again. Today I need to point out yet another intel guru event that I am afraid is going to be a huge let-down for many. First take a look at the article titled “AFTER A “DIFFICULT LABOR”, THE 2025 BUDGET TABLES FINALLY FIND THEIR WAY TO THE COUNCIL OF MINISTERS” . What does this article really tell us?
It tells us that the delay in sending the federal budget tables to the Council of Ministers is related to amendments to Article 12 of the Budget Law may soon be over.
But let’s not go off half-cocked as many have been told by their friendly intel guru that when they show this part of the 2025 budget it will contain the RV rate we have been waiting for.
Really? This notion is why I am going to cover this article today in detail.
I am here today to tell you it will not.
Surprise, surprise for many of you guru followers reading my blog today. Sorry to disappoint you! ☹ This entire idea has been fabricated in your minds by these brainwashing intel gurus. Get it?
They speculate and only speculate. When will you learn this? There is absolutely no evidence or proof that this budget for 2025 is going to be based on the in-country RV rate we have been waiting for.
In fact, some intel gurus go so far as to tell you it will be based on a much larger reinstatement rate of around $3.80 – $4.00 dollars per Iraqi dinar. Really?
Then the article goes on to give a timeline of mid-March. I quote from the article “The Ministry of Finance has been working for some time on preparing the general budget tables for the year 2025, in order to send them to the Council of Ministers for approval.” “The Ministry of Finance will finish preparing the tables and send them to the Council of Ministers for voting on them in the middle of next month,”
But what does this mid-March timeline really mean?
Why is everyone getting so excited over this news? These intel gurus once again have painted a make-believe, fantasy world around these 2025 budget tables. Why use mid-March as a timeline then even for the RV? It does not make any sense if you really know what is going on in Iraq. Do they even know what the article really says? Go read it again for yourself. It is all in the Articles Section of today’s Newsletter.
It says the Finance Committee, which prepared the tables based on changes necessary by those who objected to the way the funding for 2025 was being distributed. In other words, from the time the three-year budget (2023-2025) was put together in 2022 there had to be some changes to it. I know this was not supposed to happen as a three year budget was to expedite the budgeting process and to have to not go through the long prosses again and again each year. But here they are. Go figure, its Iraq!
So, all the intel gurus out there should know by now that there is a check and balance in the Iraqi democracy too.
They have their three branches of government. The presidency (more ceremonial than anything else), then the Council of Ministers (the legislative branch like the U.S. Congress) and then the Parliament (that ratifies the bills from the Council, much like the U.S. Senate). The word “should” is the operative word but these intel gurus don’t know or don’t care to study it.
Why don’t then know these simple facts about how the Iraqi government is run? They don’t because they don’t care to know. They are not about bringing you TRUTH and FACTS but only hype.
They use the hype to attrack you like a sticky fly strip. Then once you go for it you get stuck. Yes, the word “stuck” in another operative word to use today. This 2025 budget tables is yet another very good example of their laziness and absolute stupidity in these matters.
You will never figure out what is going on in Iraq if you base everything on speculation, fantasy and not reality.
Subscribe to:
Comments (Atom)
RESET INTELLIGENCE: PMF Militia Leaves Iraq & CBI Prepares Infrastructure – Signals for Iraqi Dinar Holders
PMF Militia Leaves Iraq & CBI Prepares Infrastructure – Signals for Iraqi Dinar Holders Introduction Recent developments in Iraq show a ...