DINAR REVALUATION

Thursday, March 6, 2025

MAJEED: They already have the greenlight to go ahead with it !!,‪@DINARREVALUATION‬ #iraqidinar

IRAQ AMONG THE BEST IN THE WORLD IN CONTROLLING THE SALE OF THE DOLLAR, 6 MARCH

IRAQ AMONG THE BEST IN THE WORLD IN CONTROLLING THE SALE OF THE DOLLAR

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, that Iraq has become one of the best countries in the world in controlling the sale of the dollar. Al-Alaq said in an interview with the official agency, followed by Iraq Observer, that

“Iraq has today become one of the best countries in the world in controlling the sale of the dollar, as this process is carried out with transparency and accuracy, and through it the citizen verifies his documents and his departure from the country,”

explaining that “this mechanism is the most disciplined, transparent and controlled in the world, as indicated by international experts.”

Al-Alaq added that “false news and media distortion may harm the interests of Iraq and the banking sector,” stressing the importance of being proud of the major developments witnessed by Iraq. He explained that “the government and the Central Bank are working hard to establish sound practices that are compatible with international standards,” calling for “the need to highlight these achievements in the media.” He pointed out that “highlighting these transformations and developments helps enhance international confidence in the Iraqi banking sector, which is vital to continue developing the financial system in Iraq.”

STATUS OF THE RV . PART. 6 BY MNT GOAT, 6 MARCH

STATUS OF THE RV . PART. 6

In another recent article on this topic titled “SANCTIONS AND MISTRUST.. HOW WILL THE IRAQI DIGITAL CURRENCY BE BORN?” The financial and banking expert Mustafa Hantoush confirmed that talking about launching an Iraqi electronic currency at the present time is premature, in light of a banking system that suffers from structural problems and weak infrastructure.

He explained to “Jarida Platform” that “the culture of electronic payment in Iraq is still immature, and unless the government intervenes and imposes the adoption of electronic payment in government departments, we will not witness any real development in this field.”

So, although the finance committee may like the idea as it may solve many issue with the dollar, it may also cause other issues. One being the infrastructure for electronic payments is now barely off the ground as electricity is not yet even full 24/7 service in most provinces.

The hardware also will be needed and the establishment of servers and a data center. I get the feeling after reading this article this will not happen any time soon and we will be far out of this investment before this happens. This was all futuristic talk by the finance committee. The next question is will the U.S. even allow a digital currency in Iraq, as Donald Trump is not in favor of the U.S. ever having a digital currency. It will surpass privacy and instill deep control over the population, something that impedes upon the virtues of a FREEDOM and LIBERTY.

What would happen if Iraq did institute a digital currency prior to the RV?

This action would impede and slow down the necessity to RV since they would not have to conduct the project to delete the zeros and there would be no longer pressures to do so. On the other hand, it would force the turn-in of all hard cash to the banks for credit and thus finally all this cash back into the banking system for liquidity. But there are other ways of doing this too, as we are now seeing taking place. Will the people of Iraq accept this lack of FREEDOM of privacy of their expenditures and the government controlling their every dinar spent? Of course, many Iraqi may feel this might be a step up from what they now have, without realizing all the future ramifications it will cause. Bottom line is I am not worried about this transition to a fully digital currency unless I firmly hear the CBI come out with a directive policy to begin the process. I don’t think this is going to happen until we are way out of this investment and the dinar has already been reinstated.

I want to bring you one more article and this one is from the past. I stumbled on this one while searching for the past articles on the digital currency stuff. Take a look at it as it is very interesting and tells us so much of Ali Al-Alaq and his mind set for the dinar. Look at the date….. So, in today’s news we just read that from Saturday Alaq said and I quote from Alaq that “IRAQ AMONG THE BEST IN THE WORLD IN CONTROLLING THE SALE OF THE DOLLAR”. Really? So, you see some the news is just hopeful. The CBI does have plans but it might change as the dynamics of the politics change too. This was during the first Trump administration.

If the CBI could really control the dollar so well than after 7 years from this article you would think the CBI could have the dinar equal to the dollar by now? Folks its been 7 years since this article. Are you listening what I am trying to tell you? I am not trying to discourage you but to wake you up to the reality of what is really happening in Iraq. There are some strange things happening in Iraq!

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

MNT GOAT: "LETS GO TO FOREX!" ‪@DINARREVALUATION‬ #iraqidinarinvestor

REASONS FOR STOPPING CASH WITHDRAWALS OUTSIDE IRAQ BY TBI WITH COMMENTS OF MNT GOAT, 6 MARCH

REASONS FOR STOPPING CASH WITHDRAWALS OUTSIDE IRAQ BY TBI

(Mnt Goat: Although the article on this subject matter from my 02/27 Newsletter did not specifically tell us, we now find out the reason. Is exactly as my contact from the CBI told me and I told you then. But here it is in writing….)

Today , Friday (February 28, 2025), banking and financial affairs specialist Ahmed Abdul Rabbo revealed the reasons for stopping cash withdrawals outside Iraq by the Trade Bank of Iraq.

“There is a strong possibility that the decision is related to combating currency smuggling, as the Central Bank of Iraq and financial institutions have previously taken similar measures to limit the exit of the dollar through unofficial means,” Abdul Rabbo told Baghdad Today. He explained that “some parties were using electronic payment cards to withdraw cash from abroad with money purchased at the official exchange rate inside Iraq, then reselling it at higher prices in the parallel market , which constitutes a type of currency smuggling.”

He explained that “there is a strong possibility that the decision came in response to American pressures related to regulating dollar flows and preventing its smuggling to countries subject to American sanctions, such as Iran. Washington has imposed strict restrictions on Iraqi banks in recent periods, and asked the Central Bank of Iraq to take strict measures to control financial transfers, especially after detecting currency smuggling operations through the use of electronic payment cards.”

He added that “the decision appears to have come as part of broader measures to control the banking sector and prevent the misuse of the dollar, and is an extension of previous measures imposed by the Central Bank, either in response to American pressure or as part of efforts to combat financial corruption and smuggling.”

Yesterday, Wednesday, the Trade Bank of Iraq announced the suspension of cash withdrawals via ATMs outside Iraq.

The bank’s media advisor, Aqil Al-Shuwaili, said in a brief statement, “Due to the risks resulting from the misuse of electronic cards (Visa and MasterCard), and to avoid these risks, cash withdrawals via ATM machines for these cards outside Iraq only have been stopped.”

He added, “Cards can be used to pay through POS machines and online.”

STATUS OF THE RV . PART. 5 BY MNT GOAT, 6 MARCH

STATUS OF THE RV . PART. 5

😊More good news from Iraq in the article titled “CENTRAL BANK: 20 IRAQI BANKS PRACTICE DIRECT TRANSFER OPERATIONS IN 8 FOREIGN CURRENCIES”. The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Tuesday, that there are 20 Iraqi banks practicing direct transfer operations in 8 foreign currencies. Remember we read in December that it was only 4 correspondent banks and now it's eight.

At that time I told you my CBI contact said there were 10 in the process and so now we now have 8 of these 10 foreign banks (currencies). This is VERY IMPORTANT news because it shows to us that foreign banks are slowly opening-up to doing business with Iraqi banks and the dinar. Remember the process – merchants in Iraq take dinar,

the Iraqi banks send dinar electronically to the foreign banks that then convert the dinar (or exchange it) to the foreign currency of that country and pay the distributor for the imports to Iraq. But look at this as progress but still in its infant stages. It is like a beta test. Only 20 Iraqi banks and only 8 foreign currencies so far. It’s a start and you have to start somewhere. The glass is half-full!

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What else is in the news?

WILL IRAQ MOVE TO A FULLY DIGITAL CURRENCY?

And finally, I want to cover this question that may be on everyone’s mind. This is the VERY IMPORTANT question asking – Will Iraq go to a fully digital currency for the dinar? If you read a couple articles from today’s news you might get the impression they fully intend to move in this direction and plan to do it now. However, we must consider more than the headlines and read the full articles to understand. We must also look at the past news from the CBI on this topic.

So, what did the CBI tell us in the past? In an article from November of 2021 titled “THE CENTRAL BANK URGES CAUTIONS ON DIGITAL CURRENCIES” in Economy News channels, the Central Bank of Iraq (CBI) warned on Thursday, against dealing in digital currencies. The CBI media office stated in a statement received by the Iraqi News Agency (INA), that “The bank is closely following transactions in the digital, encrypted and virtual currency market, given the great risks associated with these currencies.
The statement added, “In order to avoid any negative repercussions resulting from dealing with these currencies, which are highly volatile and speculative, we urge caution against their use”.

Then yet another article in March of 2022 titled “IRAQ CBI: TRADING IN DIGITAL CURRENCIES” affirmed what was stated in our circular No. (125/5/9) on 3/29/2022, in which it was decided to prevent the use of electronic cards and wallets for the purpose of speculation and trading in digital currencies of all kinds. Take all necessary administrative, legal and technical measures to prevent and track such types of transactions and trades. educate your customers about the risks and procedures that will be taken against them according to the laws and instructions in force related to these transactions and trades. Otherwise, all strict legal measures will be taken against your institutions and customers in accordance with the Anti-Money Laundering and Terrorist Financing Law No. (39) of 2015 and the instructions issued thereunder in the event of non-compliance with the above.

Having read the “official” stance or policy of the CBI on this issue of digital currencies (see the two articles above) let’s go and read what just recently came out in the news from the Finance Committee. Remember that the finance committee is part of the government of Iraq (GOI) and not the CBI. It is part of Al-Sudani’s cabinet.

In the articles titled “FINANCIAL ADVISOR: CENTRAL BANK DIGITAL CURRENCY WILL BOOST TRANSPARENCY, IMPROVE NATIONAL PAYMENTS”

and

“SUDANESE ADVISOR: DIGITAL CURRENCY IS A QUALITATIVE LEAP THAT IMPROVES OVERSIGHT AND SUPPORTS COMBATING MONEY LAUNDERING”,

the financial advisor to the Prime Minister, Mazhar Mohammed Saleh, explained today, Saturday, that issuing a digital currency for the Central Bank will be an important step towards enhancing transparency and achieving a qualitative leap in the national payments system.

Saleh said in a statement to the official agency, followed by NRT Arabic, that “the Central Bank plans to issue a digital currency as a gradual alternative to paper currency,” noting that this step will contribute to reducing cash leakage and lowering the costs of printing paper currency, in addition to reducing the circulation of money outside the banking system.

So its seems according to this article that the CBI is now in favor of a digital currency for the dinar. It does say “gradual” and so when we don’t know when. This was not an announcement of a pending digital currency. It was an informative article only. Will the CBI itself speak up on this issue being that the finance committee already “spilled the beans” on it?