[via PDK] Comment: Many...are stating there is not redemption centers and no 800 numbers. MarkZ: ...It's all about definitions.
What we call a “redemption center” is a bank. A redeeming bank that has their staff trained for this exchange. We are not saying we will go to some pop up location in a shady dark corner.
A redemption center is a bank location where they are going to redeem and exchange our currencies.
Have you ever called an 800 number to your bank with a customer service problem?It’s the same thing. If banks come out with new 800 numbers for our exchanges…[there will be]...Someone on the other end who actually knows about our exchanges...
Al-Sudani's advisor reveals to "Tariq Al-Shaab" the procedures for dividing "Rafidain" into two banks.
The Iraqi banking sector continues to suffer from chronic deterioration and weakness due to accumulated financial failures, weak capital, and a host of other factors, hampering its vital role in supporting the national economy.
There is no doubt about the importance of reforming and developing the banking sector in Iraq, including Rafidain Bank, which constitutes the cornerstone of the country's financial system and government payments system.
Conditions for successful structuring
Although this step is necessary, experts emphasize the need to implement it cautiously and gradually, while enhancing governance and transparency to avoid the risks of rapid privatization and prevent any political influence in the new management of the bank or elsewhere, thus ensuring the restoration of confidence among investors and citizens alike.
How is it structured?
In this regard, the Prime Minister's Financial Advisor, Dr. Mazhar Mohammed Salih, stated that Rafidain Bank—one of the largest commercial government banks in Iraq—has previously suffered from accumulated failures that have posed a significant obstacle to its development, despite its status as the backbone of the government payments system.
In an interview with "Tariq Al-Shaab," Saleh said, "Government and individual financial transactions have become largely intertwined, at a time when the bank suffers from weak capital, a near-total reliance on government liquidity, and limited international banking relationships."
He pointed out that Rafidain Bank "alone accounts for approximately 60% of total banking assets in Iraq, which reflects its significant size and the importance of its reform within a broader framework for developing the country's banking sector."
He explained that "the study currently being prepared by Ernst & Young is moving towards separating the bank into two independent entities. The first, called Rafidain 1, will be a joint-stock bank open to citizen participation, with the government's stake remaining below 25%, to avoid transforming it into a mixed-sector or fully private sector."
He explained that "Rafidain 1" will be effectively integrated into the national and international banking environment, will be managed in partnership with a strategic banking partner (international or regional), and will rely on modern digital and financial technology. It will also work to finance foreign trade and enhance domestic investment, representing a qualitative shift in the structure of the Iraqi banking sector, which suffers from isolation between government and private banks.
He added, "The goal is to establish a bank that complies with international standards, is free from money laundering issues, and keeps pace with technological developments, thus contributing to improving the banking environment in Iraq."
traditional Mesopotamia
The second entity, according to Saleh, will maintain the "traditional Rafidain Bank" as a fully state-owned bank, exclusively concerned with government financial operations. It will be the official banking arm of the state, responsible for managing the unified treasury account and all government payments.
He explained that "Rafidain 1, which will be privatized through a guaranteed process, will be completely separate from Rafidain 2, and will deal with the banking market and citizens as a major joint-stock company, with a strategic banking partner." He noted that "the details of the capital, number of branches, size of assets, and the transformation mechanism will be precisely determined within the comprehensive study being prepared by the consulting firm, which is expected to be completed and submitted by the end of this year."
Private sector involvement
For his part, economic expert Ahmed Abdul Rabbo stressed that "the restructuring of Rafidain Bank represents a crucial step in the process of reforming the Iraqi banking sector, but it requires careful and gradual implementation to avoid any negative repercussions."
In an interview with "Tariq Al-Shaab," Abd Rabbo explained that "successful restructuring must begin with comprehensive administrative and technical reforms, clearing the public budget of accumulated burdens, and strengthening the principles of governance and transparency." He emphasized the need to "gradually involve the private sector without relinquishing the state's strategic control over the bank."
He warned of "the risks of rapid or random privatization, or selling assets for less than their true value, as well as maintaining government influence within the bank's new management, all of which could undermine reform goals rather than achieve them."
He continued that the success of this process "will contribute to restoring confidence in the banking sector, enhance the attraction of local and foreign investment, and improve the efficiency of the financial system as a whole." However, he cautioned that "any errors in implementation could lead to financial or social crises that would be difficult to contain later." link
The fact that Iran would not accept these terms is proof once again that the government of Iran can not to be trusted. The evidence could not be any clearer in their intent for nuclear warhead dominance on the middle east.
Now we have witnessed during the last 5-6 days the Israeli bombings of Tehran’s strategic military and nuclear sites. There should be no question anyone’s mind when Iran tells Isreal that they wanted to “wipe them off the map” what the intent is with this nuclear stuff. How can a country even say this to another country without knowing there would be future consequences?
At about that time in the past my CBI contact also told me the RV process in order to go forward hinged on this matter of Iran depended on either making a peaceful proposal or face a major conflict. Remember? I was told if attack and bombing scenario did play out, it would only delay the RV process going forward. I was also told at that time you would have to be “crazy” is you thought it could even happen with this all going on. But we have to remember it is Iran that made its choice. It made its own future destiny. It is not Trump or Netanyahu. It is always about choosing between good and evil. God gave us a “free will” to choose. So, once again the Iranian leader Khamenei chose the path of evil and destruction. Isael and the U.S. forces are now just carrying out that destined choice.
I still hear rumors spreading from many of these stupid intel gurus about their any day / every day RV fantasies and I have to laugh…lol..lol..lol.. ☹This is not to say we wouldn’t be close to the RV, only closer now as this Iranian scenario had to happen first. You must understand this is a “good thing” and not a negative event in the larger scheme of things. I know, I know it is hard to see how this could possibly be good for the RV, but at the end you will understand. It will all come together and you will see it.
So, today I want to give you an update of where this stands and approximately how long they expect this issue with Iran to continue and if the U.S. will also get physically involved, such as bombings or even boots on the ground. Of course, a regime change in Iran would seem inevitable and, in my eyes, wonderful. 😊 We have seen the effects of the terrorist organizations called Hizballah, ISIS and Hamas. This horror could go on and on and must be stopped now. All these organizations have origins and support from Iran. They are the instigators of this world terrorism. Much of the money stolen from Iraq went to these organizations to make conflict not peace.
Did you listen to the upfront commentary audio from today. I played the Kim Clement prophecy once again going all the way back to 2010. It is of what God has planned for the middle east. This may be why we are seeing weird rates for the Iranian rial in QFS too. He also mentioned southern Asia and I believe God mentioned this because of the Vietnam Dong and its revaluation and ultimate release of a nominal rate too. There is going to be a “wealth transfer” included in this “reset”. It is God’s reset with prosperity and abundance.
Of course, these rates we see in QFS are for a more peaceful time when Iranian regime under the Khamenei is finally neutralized. I am told it won’t be long. I am told now is the time for the citizens of Iran to finally make a difference and to step up when things are in chaos and the government is at its weakest. If they can make a difference there is a strong possibility that Khamenei could be finally gone and gone very soon.
Parliamentary source: Al-Mandlawi is the prime suspect in the 2024 budget manipulation case
An informed parliamentary source revealed, on Wednesday, the involvement of First Deputy Speaker of Parliament Mohsen Al-Mandalawi in the case of tampering with the 2024 budget tables, indicating that there is a large financial difference of up to 15 trillion dinars between the tables sent by the government and those voted on by Parliament.
The source, who preferred to remain anonymous, told Al-Maalouma Agency, “The parliamentary investigations into the tampering with the 2024 budget tables were obstructed by the direct intervention of Mohsen Al-Mandalawi, who exploited his position as acting Speaker of Parliament at the time to pressure the investigation, due to his direct involvement in the case.”
He explained that "the investment committee asked the Finance Committee to provide it with all documents related to the financial tables, and the Finance Committee responded and provided what was requested, but the investigations were stalled and their results have not yet been revealed."
The source stressed that "manipulating the schedules represents a serious violation, especially in light of the absence of final accounts, which opens the door to unaccountable financial transfers and gives multiple parties the opportunity to act without real oversight."
It is noteworthy that economic experts had previously warned of the danger of manipulating budget schedules, given the lack of transparency and the failure to submit final accounts, which reinforces fears of systematic financial corruption within state institutions. link
Article: "A GOVERNMENT ADVISOR REVEALS THE TRUTH ABOUT THE DEVALUATION OF THE DINAR AGAINST THE DOLLAR." Quote: "there is a shortage of cash liquidity in Iraq and that salaries are 'unsafe,'..."
...in early July the govt’s plan is to pay ALL salaries by automatic deposit in the citizens bank account. If they haven’t set up an account they will not get paid...
This action by the govt is hoped to keep more cash in the banks to help with the liquidity issue. It may also flush out the stashes and hoards of cash in the homes that is said to be almost 90% of the issued cash..But remember that you and me also have dinar and our stashes must also come home to roost…lol... :) They are going to come for our dinar next….
