Thursday, April 25, 2024
Economist: There Is Serious Work To Lift US Sanctions On Iraqi Banks, 25 APRIL
Economist: There Is Serious Work To Lift US Sanctions On Iraqi Banks
Economy | 04/25/2024 Mawazine News – Baghdad The expert in economic affairs, Safwan Qusay, confirmed that there is a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to lift sanctions on some banks.
Qusay said, in a televised interview followed by Mawazine News, that “the joint committee is working to study the activities of the banks sanctioned by the US Federal Reserve.”
He added that “banks that have worked to purchase equipment or tools from sanctioned countries will have sanctions imposed on these banks.” A fine, indicating that the government must work to rehabilitate the banking sector so that it is internationally accepted.”
He pointed out that “the government of Muhammad Shiaa Al-Sudani directed the formation of a joint committee between the US Federal Reserve and the Iraqi Central Bank in order to move towards lifting sanctions on Iraqi banks and restoring the status of the Iraqi banking sector. ” to its global stature. https://www.mawazin.net/Details.aspx?jimare=246721
ABOUT THE STATUS OF IRAQ" BY GOLDILOCKS, 25 APRIL
GOLDILOCKS
Iraq is telling us on the CBI website that they are meeting their Financial Inclusion Requirements.
G20 has standard guidelines for what this means.
"Financial inclusion is measured in three dimensions: (i) access to financial services; (ii) usage of financial services; and (iii) the quality of the products and the service delivery."
© Goldilocks
https://cbi.iq/news/view/2552
Coffee with MarkZ. 04/25/2024
More Than 138 Billion Dinars In “Fines” Imposed By The Iraqi Central Bank On Banks And Exchange Companies, 25 APRIL
More Than 138 Billion Dinars In “Fines” Imposed By The Iraqi Central Bank On Banks And Exchange Companies
Economy breaking Central Bank of Iraq 2024-04-23 00:11 Shafaq News/ The Central Bank of Iraq announced on Tuesday that the fines imposed on banks and non-banking institutions (exchange companies) amounted to more than 138 billion Iraqi dinars during the past three months.
A table of the bank, seen by Shafaq News Agency, showed that the fines imposed on banks and financial companies during the past three months, starting from January and until the end of last March, amounted to 138 billion, 377 million, 321 thousand, and 527 dinars, indicating that
“the fines It also included 49 administrative penalties for these banks and non-banking institutions, distributed between warnings, warnings, and grace periods. The table showed that
“the month of January witnessed the highest fines on banks and non-financial institutions, as these fines reached 98 billion, 277 million, 722 thousand, and 62 dinars, with administrative penalties amounting to 17 penalties, while the month of March witnessed the lowest fines, amounting to 5 billion and 462.”
One million, 451 thousand, and 344 dinars with administrative penalties amounting to 15 penalties.”
The table did not show the names of the banks on which fines and administrative penalties were imposed.
The Association of Investors in the Iraqi Stock Exchange had criticized, in early June, the Central Bank of Iraq's increase in fines on banks, noting that it would affect the profitability of investors in the shares of these banks.
https://shafaq.com/ar/اقتصـاد/كثر-من-138-مليار-دينار-غرامات-المركزي-العراقي-على-مصارف-وشركات-صرافة
"RV UPDATE" BY TEXAS SNAKE, 25 APRIL
TEXAS SNAKE
- Mon. 22 April Texas Snake: “The Iraqi Prime Minister returned to his country this past Monday and turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition for sometime Wed. 24 April.
Okie had some positive news earlier today, thought we would hear some indication of the new rate when the Premier returned to his country from his visit to the US, the banker is assisting his hospitalized wife in CA so very little news from him so I guess we wait for FOREX to open, but again sports fans we appear to be very close, so say your prayers tonight.
This may be a little longer post than usual as the powers that be do not wish to get anyone''s hopes up only to be disappointed when the RV does not come in. Well I spent 40 years in the investment banking and financial planning industry which allows for a slight advantage in researching certain areas of the acknowledged resources regarding money and securities. Those areas being the IMF, FOREX, WTO, etc, etc.
The Prime Minister returned to his country on this past Monday, he turned over to the head of the CBI to announce the pending revaluation of his nations currency. The CBI provided the new rate to the IMF who in turn provided this rate to the FOREX which by policy has 72 hours from receipt to post for universal recognition which will be sometime between now and Wednesday 4/24/2024 by 7:00 PM.
Since both the Gazette and the IMF rate schedules are published on Wednesday each week we can assume should there be a revaluation we should receive that news during this window. Don't get excited or make any serious decisions but please stay calm and watch the next few days as we seem to be this close. GOD Bless
Texas Snake, [04/22/2024, 10:25:30 p. m.]:
About 10 more minutes then I need to close
Will try to illistrate that tomorrow
Yes he uses a CBI Debit card to purchase items in Beeville and he discovered the exchange rate on a recent purchase equaled $3.90 US for his Dinar value up substantially from before the in country RV
Well folks will come back with anything new GOD Bless
https://dinarevaluation.blogspot.com/2024/04/rv-update-by-texas-snake-24-april.html
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