Central Bank: Visa And Mastercard Card Issue Abroad To Be Resolved Next Month

 Central Bank: Visa And Mastercard Card Issue Abroad To Be Resolved Next Month

Central Bank Governor Ali Mohsen Al-Alaq  Banks  Economy News – Baghdad  Central Bank Governor Ali Mohsen Al-Alaq announced on Saturday that the issue of Visa and MasterCard cards abroad will be resolved within the next month.

Al-Alaq said in press statements, followed by "Al-Eqtisad News," that "the Central Bank has completed the two tasks related to cash sales and foreign transfers, but the card crisis witnessed a state of "misunderstanding."

He explained, "When we headed to organize this process, it required a set of procedures that must be worked on, so that we put it in its correct direction and according to acceptable standards, and therefore there were some stops and some changes in the paths."

Al-Alaq said, "An agreement was reached with all concerned parties - which include "Visa" and "MasterCard" in coordination with the Treasury, the Federal Reserve, and the auditing company - on "the formulas and paths for settling these cards," stressing that "the Central Bank has taken rapid steps in this regard, expecting to complete this task within the next month, i.e. before the scheduled date for this process, which is June 1."

Al-Alaq revealed that "work has begun on developing a plan to issue cards to small merchants, after completing consultations with companies," "to accommodate the requests of merchants—a large segment of Iraqis—to cover their foreign trade without passing through long routes, so that transfers can be made directly, which will create a major shift in accommodating merchants who do not use formal transfer methods."

Al-Alaq indicated that "the Central Bank, in agreement and consultation with the Treasury and the Federal Reserve, has completed the organization of cash sales of dollars, and is now 'in an ideal position, by their own testimony.'" He described foreign commercial transfers as "progressing very smoothly, as we have expanded the network of correspondent banks abroad in the US and elsewhere. 

An agreement has also been reached to open another bank in the US to establish relationships with Iraqi banks in transfer operations."  https://economy-news.net/content.php?id=54852

FIREFLY: We know their rate is around $3.30!!

 Frank26  

 [Iraq boots-on-the-ground report]   

FIREFLY: Kuwait is now here in Iraq.  We know their rate is around $3.30 so why would we be doing deals with Kuwait at a program rate of 1310?  Mr Sammy says... there has to be at least bottom numbers or a range of what the rate will be for all these companies and countries here signing deals. 

 FRANK:  IMO all these companies coming into Iraq have a memo of understanding but not signed contracts, which is a big indication that we're still waiting for the new exchange rate...Kuwait...is another indication that the world knows the truth about the monetary reform of the Iraqi dinar...Everyone is preparing for it IMO

🇮🇶IQD🇮🇶 rumored at $3-7 🇻🇳VND🇻🇳 rumored at $.47 @DINARREVALUATION #iraqidinar #iraq

 

An Economist Reveals Three Hidden Reasons Behind The Market Recession.

 An Economist Reveals Three Hidden Reasons Behind The Market Recession.

Time: 2025/04/26 16:57:17 Read: 2,040 times  {Economic: Al Furat News} Economic expert Salah Nouri revealed today, Saturday, three reasons behind the current stagnation in Iraqi markets.

Nouri told Al Furat News, "The first reason is the rise in the prices of basic imported goods globally, which has had a direct impact on their prices in local markets when calculated in Iraqi dinars, making them beyond the reach of a wide segment of citizens."

He added, "The second reason relates to the fluctuations in the local dollar exchange rate, which has weakened the dinar's purchasing power and made low-income earners among the most affected groups due to their inability to keep up with rising prices."

Nouri pointed out that "the third reason is the decline in demand for basic commodities due to the decline in citizens' purchasing power, which has led to a general state of stagnation in markets, especially in areas with low incomes."  LINK

Bruce The Big Call UPDATE

 Bruce The Big Call

 Likely Tier4b (us the internet group) will be sent notification to set exchange appointments over the weekend and start appointments on Monday 28 April because that’s when Redemption Center staff has been asked to come in and work. 

The Contract Rate on the Dinar was in the low 80s, but you must have a humanitarian project to qualify and the contract rate on the Dinar is only available at a Redemption Center.

Global Currency Reset Underway: IQD: $9.35 – now activated on internal banking platforms! #iraq

 

Secretary Rubio’s Meeting with Iraqi Deputy Prime Minister and Foreign Minister Hussein

Secretary Rubio’s Meeting with Iraqi Deputy Prime Minister and Foreign Minister Hussein

APRIL 25, 2025

The below is attributable to Spokesperson Tammy Bruce:

Secretary of State Marco Rubio met with Iraqi Deputy Prime Minister and Foreign Minister (DPM/FM) Dr. Fuad Hussein in Washington, D.C. on April 25.  Secretary Rubio and DPM/FM Hussein discussed the importance of Iraqi sovereignty for regional security and stability.  The Secretary praised Iraq’s efforts to promote regional de-escalation and constructive dialogue.

Secretary Rubio and DPM/FM Hussein discussed opportunities to expand economic cooperation and increase trade and investment between the Unites States and Iraq.  The Secretary commended Iraq for hosting the first-ever U.S. Department of Commerce-designated trade mission in Baghdad earlier this month, resulting in billions of dollars in agreements with U.S. companies

https://t.co/LaqNxbXU9l