😊In the articles titled “OUTCOMES OF THE SUDANESE MEETING ON REFORMING THE RAFIDAIN AND RASHID BANKS” and “HIS OFFICE: AL-SUDANI DIRECTED TO EXPEDITE THE REFORM PROCESS OF RAFIDAIN AND RASHID BANKS.”
Prime Minister Mohammed Shia al-Sudani’s media office stated that the latter “directed the preparation of plans to expedite the reform process of the Rafidain and Rashid banks in accordance with international standards. As we all know these are the two main state owned banks. They are most closely monitored by the Central Bank of Iraq.
If you can recall from the past, the audit group Ernst & Young, was hired to audit these banks and make recommendations for reforming them. So now we read that Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures for the Rafidain and Rashid banks, with representatives from Ernst & Young in attendance.
The meeting reviewed the progress of the banking reform process adopted by the government to restructure and develop Rafidain and Rashid banks, and discussed revising their internal regulations to be in line with international standards and the objectives of banking reforms.
The meeting also followed up on the procedures for establishing a new bank, Rafidain First Bank, which was approved during the Cabinet session held on January 13. Now there are going to be three main state owned banks. Why three?
Folks, I want to take a minute to explain something to you. How many times must Iraq tell us that their economy is on the brink of a huge breakthrough.
When all this money begins to flow, they will need more state-controlled banks to handle these transactions. I like the words “revising their internal regulations to be in line with international standards”. But we all know this was mostly already completed. Why are they telling us this again? Maybe there is some fine tuning to be done at these banks like training and anti-corruption measures being put in place?
HIS OFFICE: AL-SUDANI DIRECTED TO EXPEDITE THE REFORM PROCESS OF RAFIDAIN AND RASHID BANKS.
Prime Minister Mohammed Shia al-Sudani’s media office stated that the latter “directed the preparation of plans to expedite the reform process of the Rafidain and Rashid banks in accordance with international standards.”
This came during a meeting devoted to following up on the reform measures of Rafidain and Rashid banks, attended by representatives of Ernst & Young. The meeting “witnessed a review of the work stages of the banking reform adopted by the government to restructure and develop Rafidain and Rashid banks, and discussed reconsidering their internal regulations in line with international standards and the objectives of banking reforms. It also discussed the issue of the two banks’ debts and their repayment mechanisms, and the measures taken to train their working cadres. In this regard, Al-Sudani directed the continuation of the reform process for the two banks, and for their managements to develop strategies that contribute to accelerating the reform process.”
The statement said, “The meeting followed up on the procedures for establishing a new bank, Rafidain First Bank, which was approved during the Cabinet session held on January 13th. The bank has a different vision, embracing modern technologies and international standards that will help implement the government’s financial and banking reform objectives, which will have a positive impact on the country’s economic trajectory and development.”
The statement indicated that “Ernst & Young submitted a report in which it reviewed the financial and technical offers for the project to establish the First Rafidain Bank.”
For some time now, US attention has been focused on the state-owned Rafidain Bank, with calls for sanctions against it, describing it as a “window for smuggling dollars to Iran.” However, politicians and academics view the matter with pessimism, particularly since any impact on the bank would create financial tensions within Iraq, given its status as one of the most important government banks.
Earlier, Kurdistan Democratic Party (KDP) MP Sipan Sherwani spoke about what he described as “serious oversight” of Iraqi financial institutions, noting that Rafidain Bank “has not been audited for nine years.”
😊Next, there is an article that helps us better understand what the term “Security” means when the CBI says that Iraq needs “Stability and Security” to conduct the project to delete the zeros.
The article titled “WHAT DOES THE UNITED STATES MEAN BY REAL SECURITY REFORM IN IRAQ?”., WOW! Just in the title of the article alone says they are going to tell us and feel a need to tell us.
The article defines security from the standpoint of the U.S. and after all we, as investors, are looking for the U.S. to sign off on the RV and to let it go, right? So, is this important to know?
This article says it all, just in case you are not clear on these terms. In the article it talks about the complex security situation in Iraq and how it is a natural consequence of any country facing occupation, as it becomes a hub and haven for various armed and extremist organizations with deviant ideologies, which in turn leads to a state of security instability.
Although the United States views the presence of its forces in Iraq as part of its national security strategy, any security issue related to Iraq inevitably overlaps with this presence. So, can we all agree then on President’s Trumps policy to “secure” Iraq by getting rid of these extreme groups from inside Iraq, especially the leftover Iranian militia? Should we be monitoring this progress then as pivotal progress to see the RV event someday? We must not take these nuggets of information lightly. These articles all paint the picture on our intel pallet. The only question is are be listening and aware?
😊You might also want to take a peek at the articles titled “BAGHDAD IS OFFICIALLY OUTSIDE THE “AXIS OF RESISTANCE”…AND THE US WANTS “ZERO IRAN” IN IRAQ”, and also “SOURCES: QAANI WARNED IRAQI FACTIONS AGAINST “PROVOKING THE AMERICANS”. This information is alsoall about security for Iraq. Opps three articles on this subject matter. This must be important.
OUTCOMES OF THE SUDANESE MEETING ON REFORMING THE RAFIDAIN AND RASHID BANKS
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures for the Rafidain and Rashid banks, with representatives from Ernst & Young in attendance.
The meeting reviewed the progress of the banking reform process adopted by the government to restructure and develop Rafidain and Rashid banks, and discussed revising their internal regulations to be in line with international standards and the objectives of banking reforms. It also discussed the debts of the two banks and their repayment mechanisms, as well as the measures taken to train their staff. In this regard, the Prime Minister directed the continuation of the reform process for the two banks, and for their administrations to develop strategies that contribute to accelerating the reform process.
The meeting also followed up on the procedures for establishing a new bank, Rafidain First Bank, which was approved during the Cabinet session held on January 13. The bank’s vision is to adopt modern technologies and international standards that will help implement the government’s financial and banking reform objectives, which will have a positive impact on the country’s economic trajectory and development.
Ernst & Young submitted a report reviewing the financial and technical offers for the project to establish the First Rafidain Bank.
I want to welcome everyone to Spring! This is one of my favorite times of the year, as we see a new growth and a fresh start. I was just sitting up on the mountain today as I hiked up to enjoy the warmer spring weather and listen to the sounds of gushing water flowing down from the melting snows above.
It has been a long time since I perched on my favorite rock to view the valley below. I was thinking how spring this year will bring a rebirth in many ways to us all. Are you praying for your nation?
Are you praying for the Glory of God for his prosperity and abundance He is about to bring us? Yes, it is coming, but on His terms not ours.
If we carefully pay attention to the changes taking place n our nations, we can see God is going to rid us of these global elites and their nasty ideology for the world. It was designed to enslave us more and more over time. Many will say – but look at all the nice things we have, nice homes, cars and still lots of food in the grocery stores.
But these “nice things” are in spite of their attacks to suppress us. Many of these “nice things”, if they had their way will be dissolved and dismantled. Shortages and suffering is how they plan to control us. We already see it now, as try to push their agenda on us. They say the U.S. has had it too good for too long.
Really? This is the swamp talking Marxist Communists ideology. I don’t even care anymore if we are the most wasteful society. At least we have plenty to waste, get it? Is the glass half empty or half full? Seems the communists want you too believe their empty glass thinking is the way to go.
The news today is all very good and still moving in the direction we need for the RV and reinstatement to happen. Today we get answers to yet more of what we asked when we first heard of this digital dinar effort. We also get more clarity on some terms the CBI has been using.
Will cash paper dinar coincide with the digital dinar?
If we read the article titled “RAFIDAIN BANK DEPLOYS ATMS AT 5 STATIONS IN BAGHDAD”. Rafidain Bank announced last Friday, the deployment of ATMs at five stations in Baghdad. Why would they deploy yet more ATMs now. Don’t forget also the hundreds of ATMs deployed throughout Iraq in the past. Why would they do this if not still expecting to use cash at some level.
“Rafidain Bank announced the deployment of automated teller machines (ATMs) at a number of stations, allowing customers to conduct withdrawals and depositseasily and safely around the clock, and without any commission.” It was added,
“This step comes as part of a strategy to expand the scope of digital banking services, contributing to the integration of more individuals into the banking system and enabling them to benefit from modern financial solutions without the need to visit traditional branches.”
But why not just use the digital wallets to conduct basic transfers and payments from their cell phones? So, now we see the ATMs would only be needed if there is still a need for cash.
In my last conversation with my CBI contact I was told that initially the digital dinar is to be implemented mainly for international transactions abroad to other Central Banks.
The data center to manage it is now being designed and will be constructed very soon. So this is not years away. The need for it NOW is to kill the parallel market but most importantly to “introduce” the Iraqi dinar, if even a digital dinar, to the rest of the world.
They are going to push the digital dinar as the safest currency in the world. My contact told me to watch for these news articles to push this idea out to the rest of the world, beyond the middle east.
Also don’t forget that Iraq plans to do major trading with the European Union (EU) and the EU is planning to roll out their digital EURO October 2025. So this is going to be interesting. Please get this excessive compulsive thoughts of an RV today or tomorrow. Instead just sit back and watch the drama. Yes, watch it all play out. This show is actually amazing to watch.
2. Will they still exchange out the three zero notes to the new lower denominations?
😊I firmly believe this project will still take place. When they tell us that the digital dinar will eliminate expenses of printing currency they are talking mainly about the large sums of paper dinars that would have to be transported outside of Iraq to pay their bills for imports.
Remember the economy of Iraq is expanding and huge sums will be moved around to meet the needs of rebuilding Iraq and operating their economy. Customs and Tariffs along will rival the oil revenues. But they have to geta grip on these funds and have them paid to the Federal government general fund if this is to be successful.
In an article today titled “PARLIAMENTARY WARNING OF THE REPERCUSSIONS OF DELAYING NON-OIL REVENUES ON THE IRAQI ECONOMY” we learn that the Parliamentary Economic Committee called on all ministries to expedite the payment of their non-oil revenues to the Ministry of Finance, while warning of the repercussions of continued delays on the national economy and the financial pressures that could affect the implementation of development plans.
So, we see that this revenue is collected by the provinces but held up from the Federal Treasury. There is still work to be done to organize and funnel this money forward to be successful.
Remember also the CBI told us that our large three zero notes will remain in circulation but only used at the banks for “inter-banking” transactions between countries and banks. So this is what I believe this meant in the articles.
Next, I want to address another issue that seems to bubble up from many of these intel gurus out there on the internet. It's about the Oil and Gas Law. I have to tell everyone that this law is NOT all about oil revenue sharing to the citizens, as many believe.
Instead it is a law to be put in place to govern how oil in general will be managed in Iraq. Remember it is now still 90% of the revenues. So, to finally suppress all this intel guru nonsense on this matter Iraq finally talks more about this revenue sharing in the article titled “DISTRIBUTING OIL REVENUES TO IRAQIS: “ECONOMIC COLLAPSE INEVITABLE WITHIN TWO YEARS“.
This controversy is escalating in Iraq over lawsuits filed by citizens demanding their share of oil revenues. An expert has warned of the disastrous economic consequences of such demands at this time. Go read the rest of the article for yourself if you don’t believe me.
I want to remind everyone too of what I told you years ago on this subject matter. This revenue sharing can only happen once the economy is stable and these other sources of revenues rival the oil revenues.
Iraq also will need its current revenues to rebuild still war torn parts of Iraq and work on these industrial cities and silk road projects. Will oil profit sharing happen?
Yes, I believe it will happen someday but for someone gathering and learning about the RV I would not place my time of concentration on this event as a trigger for the RV. Yes, how silly is this. This article backs me up too. But it also shows this revenue sharing is real but just not now.