EBRD ENABLES EXPANSION INTO IRAQ

 EBRD ENABLES EXPANSION INTO IRAQ

(Nice! 😊 Could this also help in full accession to the WTO? Of course it will. What do you think? 😊 Just yet another event where we shake our heads and ask – where is the RV?)

The European Bank for Reconstruction and Development (EBRD) has amended its statutes, enabling it to expand operations into sub-Saharan Africa and Iraq.

According to a statement from the bank, this pivotal change redefines the Bank’s geographic remit and follows approval by its Board of Governors in 2023. The amendment will formally take effect in three months.

The move sets the stage for Iraq to become a full country of operation, alongside several sub-Saharan nations. Iraq, along with Benin, Côte d’Ivoire, and Nigeria, has already joined as a shareholder, while Senegal, Kenya, and Ghana are currently undergoing the membership process.

Full statement from the EBRD:

The shareholders of the European Bank for Reconstruction and Development (EBRD) have accepted an amendment to Article 1 of the Bank’s statutes, enabling the expansion of its operations to selected countries in sub-Saharan Africa and Iraq. Article 1 of the EBRD’s statutes defines the Bank’s purpose and its geographic remit for countries of operations.

The Board of Governors approved this expansion in 2023 and the threshold of shareholder approval required for the amendment to Article 1 has now been met. The amendment will enter into force in three months’ time.

The announcement comes as the EBRD gears up for its 34th Annual Meeting, which will take place at the Bank’s headquarters in Canary Wharf on 13-15 May 2025.

EBRD President Odile Renaud-Basso said: “The modification of our Article 1 statute is a pivotal step towards the Bank’s geographical expansion. It paves the way for our governors to grant recipient status to countries in sub-Saharan Africa and Iraq, which will enable us to start operations in our first countries in the region.”

The EBRD currently has 75 national shareholders, in addition to the European Unionand the European Investment Bank.

The Bank supports countries in transition by using a combination of investment, advisory work and policy reform, with a focus on developing the private sector and bringing about sustainable change.

TIDBIT FROM FRANK26

 Frank26  

 Article quote:  "The Governor of the Central Bank of Iraq told Asharq Al-Awsat: The project to remove zeros from the dinar is ongoing, but it requires withdrawing and replacing 100 trillion dinars from the market, and I do not expect it to be implemented this year." 

 Whoa dude, thank you!  That's a heck of a statement, self confession...This article is from a year ago.  What they were saying a year ago, 'no we're not lifting the three zeros right now, we're going to complete it next year', that's right now! 

  On top of that they're talking about 100 trillion dinars that are still out in circulation? 

 No it's less than that!  This article was sent out by the evil parliament to cause trouble so that the citizens say, 'oh no they're not going to lift the 3 zeros.  It's still another whole year!'  This is fantastic...ALAQ ADMITS 3 ZEROS LIFTING FROM THE EXCHANGE RATE!

MARKZ: Once we hit 30-40% of those historic bonds we are roughly 3-5 days of us going!! #iraqidinar

 

CENTRAL BANK: VISA AND MASTERCARD CARD ISSUE ABROAD TO BE RESOLVED NEXT MONTH : WITH COMMENTS OF MNT GOAT

 CENTRAL BANK: VISA AND MASTERCARD CARD ISSUE ABROAD TO BE RESOLVED NEXT MONTH

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.”

(They are not using these cards with the “new” RV rate. If anyone tells you this they are crazy people. If these cards are used outside Iraq they use the same “official” rate of the CBI if they want to pay for goods in any other foreign country. It is the same if you use a charge card in Germany. The card will take your US. Dollar limit and convert it to Euros. Euros will pay the merchant. So let’s stop all this nonsense about these cards and having a new RV rate on them. This is so ridiculous it is so scary that anyone would even believe this crap, but these idiot intel gurus (like TNT Tony and Bruce. Are telling you this.) Yes, very sad with all the lies.)

STATUS OF THE RV, PART. 6 BY MNT GOAT

 STATUS OF THE RV, PART. 6 

😊The other article on this topic of VISA and Mastercard is titled “THE CENTRAL BANK SETS A DATE FOR OPENING A NEW BANK IN THE US AND RESOLVING THE VISA AND MASTERCARD CRISIS.” 

The Central Bank Governor Ali Al-Alaq confirmed on Saturday (April 26, 2025) that an agreement had been reached to open another bank in the United States to establish relations with Iraqi banks in money transfer operations. 

 “The Central Bank aims to resolve the problem of Visa and MasterCard cards abroad within the next month,” noting that “a plan has begun to be developed to issue cards specifically for small merchants.”  The Iraqi banking sector faces challenges in international transactions, particularly regarding the use of electronic payment cards abroad, due to regulatory restrictions and global financial compliance requirements.  

Please watch the news when US Treasury secretary Bessent talks. When he talks, I listen! he is giving clues almost every day as to what is about to happen and where they are going with creating the “level playing field” for currencies. 

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

HERNAN BRAVO: 🔥🇮🇶 IRAQ JUST DROPPED TWO BOMBS — AND NO ONE IS PAYING ATTENTION #iraq #iraqidinar

 

THE CENTRAL BANK SETS A DATE FOR OPENING A NEW BANK IN THE US AND RESOLVING THE VISA AND MASTERCARD CRISIS

 THE CENTRAL BANK SETS A DATE FOR OPENING A NEW BANK IN THE US AND RESOLVING THE VISA AND MASTERCARD CRISIS.

Central Bank Governor Ali Al-Alaq confirmed on Saturday (April 26, 2025) that an agreement had been reached to open another bank in the United States to establish relations with Iraqi banks in money transfer operations.

Al-Alaq added in a statement followed by Baghdad Today that “the Central Bank aims to resolve the problem of Visa and MasterCard cards abroad within the next month,” noting that “a plan has begun to be developed to issue cards specifically for small merchants.” 

The Iraqi banking sector faces challenges in international transactions, particularly regarding the use of electronic payment cards abroad, due to regulatory restrictions and global financial compliance requirements. The Central Bank of Iraq has been working for some time to strengthen banking relations abroad and open new channels to improve financial transfers and ensure smooth transactions for businessmen and citizens, as part of broader efforts to reform the banking system and bring it in line with international standards.

(This news is NOT all about the RVso let’s not go off half-cocked. However these U.S. banks could come in handy to exchange the IQD when the time comes.)