Chase Bank’s is showing fixed exchange rates of $40 per IQD and $2.51 per VND #iqd #iraq

 

IBBC appoints new Baghdad Office Manager

 Ali Mashkour joins IBBC from member company MHD International. He is Iraqi British and has been based in Baghdad for the past ten years, working in projects across infrastructure, security, transport and government sectors, managing multi-disciplinary teams and engaging senior stakeholders across both public and private sectors.

In his new role, Ali will work in the Baghdad and Erbil offices, supporting members and the organisation's overall objectives and with our Honorary Member Representative Mohammed Alsaadi and our Honorary Representative for Kurdistan and the South of Iraq, Dr Ali Jawad.

Christophe Michels, MD of IBBC said:

"We  are pleased to welcome Ali Mashkour to our team, knowing he has to fill the sad gap that Muhanad Khattab left when he died last month, we have every expectation Ali will bring us new energy and insights to the role, which is of increasing importance to IBBC as our Iraqi membership rapidly grows and are holding more events and conferences in the country."

Ali can be contacted at ali.mashkour@webuildiraq.org

EXCERPTS FROM MARKZ: The Iran rial is going to be in the first basket

 EXCERPTS FROM MARKZ: The Iran rial is going to be in the first basket

Member: Mark, would you happen to have any updates on the Iranian rial?

MZ: No- But my gut feeling is the Iran rial is going to be in the first basket. They are in the same economic area as Iraq. They share oil fields. Ideally the Iranian currency will be close to what the Iraqi currency is going to be. 

Member: Mark what currencies do you think will be in the first basket

Member: old list-

 1. US 

2. UK 

3. Kuwait

 4. Canada

 5. Mexico 

6. Russia 

7. China 

8. Venezuela 

9. Iranian Rial 

10. IRAQ 

11. Indonesia Rupiah 

12. Malaysia 

13. Vietnamese 

14. Brazil 

15. Saudi Arabia

 16. Qatar 

17. United Arab Emirates 

18. Turkey 

19. Afghanistan possibly

20. India 

21. Libya 

22. Japan

23. Zimbabwe

FIREFLY: Saleh back on TV today...talked about how a fixed rate is better than a floating rate #iqd

 

Iraqi Minister Warns of $200-300 Oil

 Iraq's Deputy Prime Minister and Foreign Minister, Fuad Hussein (pictured), has cautioned that the continuation of Israeli and Iranian military operations may lead to the closure of the Strait of Hormuz, which could result in the loss of up to five million barrels per day of oil exports from the Gulf and Iraq.

He warned that this could drive oil prices to $200-300 per barrel, exacerbating the global inflation crisis and negatively impacting both producing and importing countries, including Iraq.

The Minister made his comments during a phone call with Germany's Federal Minister for Foreign Affairs, Dr. Johann Wadephul.

(Source: MoFA)

AJ: A unified exchange rate has to happen 1st before the CBI can revalue its currency. #iraqidinar

 

Economist: Targeting Oil Facilities Could Raise The Price Of A Barrel To $130

 Economist: Targeting Oil Facilities Could Raise The Price Of A Barrel To $130.

 
Today 12:18  Information / Baghdad..  International economics professor Nawar Al-Saadi warned on Tuesday that  an escalation in military tensions between Iran and the Zionist entity, with the exchange of strikes shifting from limited scope to direct targeting of vital infrastructure,  could push the world toward one of the most serious economic crises in decades.   

Al-Saadi told Al-Maalouma News Agency that  "the targeting of a gas platform by the Zionist entity and Iran's response by bombing a refinery in Haifa represent a dangerous indicator of the potential outbreak of a strategic assets war in which energy facilities, including oil and gas, become key targets in the conflict."  

He added that  "global energy security will be the first to pay the price," noting that  "the Strait of Hormuz, over which Iran has geographic control, passes more than 25% of global oil exports."   

He explained that  "any actual threat to this vital waterway, whether through closure, bombing, or naval mines, would cause a market shock that could send oil prices to nearly $130 per barrel if navigation were partially disrupted."  

 He explained that  "this price jump will put significant pressure on the economies of importing countries, particularly in Asia and Europe,  and will push toward a new global inflationary wave
that could weaken purchasing power and lead to an economic slowdown that could reach the point of recession if the conflict continues." 

 He pointed out that  "the repercussions of the escalation will impact global supply chains,
particularly in the transportation and heavy industry sectors, due to rising fuel and logistics costs,
which threatens a shortage of basic commodities and a decline in global production."  

He stressed that  "the Gulf states will not be immune from the impact, despite their relative distance from the geography of the confrontation," noting that their energy facilities remain vulnerable to potential missile or electronic attacks, which would deepen the supply crisis. 

As for Iraq, he noted, "The impact will be twofold.
 
While it may benefit in the short term from higher oil prices,
it could face a real problem if the Strait of Hormuz is closed or export routes are disrupted,
particularly given the Ceyhan pipeline's closure and its current reliance on the Gulf as the sole conduit for its oil exports." 

He concluded by saying,  "The transformation of the conflict into a full-scale war on energy infrastructure will not remain confined to its security or political scope, but may cause a global economic shock deeper than that caused by the Ukraine war, with the potential to redraw the map of alliances and centers of economic influence in the world."  End 25/S      
https://almaalomah.me/news/101672/economy/اقتصادي:-استهداف-منشآت-النفط-قد-يرفع-سعر-البرميل-إلى-130-دول