Reveals the details of the restructuring plan of Rafidain and Rashid banks, 11 JAN

 Reveals the details of the restructuring plan of Rafidain and Rashid banks

An economist revealed the government’s plan to restructure its trigiful and rational banks.

Salah Nouri told {Euphrates News} that “the reasons for restructuring Al-Rafidain and Al-Rashid Bank for the existence of poor (financial assets), most of which are loans granted and impossible to collect before 2003, led to a low credit rating by international financial institutions and not dealing with them.”
He pointed out that “in order to restore international confidence in bankers, it is required to restructure the two banks by excluding the inferior financial assets from the financial position of the bankers, using modern technology and establishing two banks, one for Rafidain and the other for Al-Rashid, to transferring bad financial assets to them.”
He explained, “After the separation of Rafidain Bank into a bank that has sound financial assets and the last Rafidain Al-Radif Bank owns poor financial assets, as well as Al-Rasheed Bank to Al-Rasheed Bank has sound financial assets and Al-Rasheed Al-Rudif Bank has poor financial assets, Rafidain Bank and Al-Rashid, which own sound financial assets, are merged into one bank, as well as the integration of Rafidain Bank, which has poor financial assets, with Al-Rasheed Bank, which has poor financial assets, is integrated into one bank.”
Nouri said that “the new bank after the merger with sound financial assets will practice the activity of cash and undertaking credit and dealings with international financial institutions, but the new bank after the merger with sound financial assets needs to support capital with not a few amounts, and this should be determined by the entity that supports the capital, according to the government decision. ”
He pointed out that “the financial activities of the new bank include the use of artificial intelligence as well as the bank’s employees with high technical skills.”
He added that “the process of restructuring the financial and regulatory banks since 2011 as a member of the Federal Financial Supervisory Board, the Central Bank of Iraq, the International Auditing Company EY, the Ministry of Finance and the concerned banks, has stopped, and currently the financial and organizational restructuring process has been re-entrusted by the International Audit Company according to the methodology referred to above.”
On Thursday, Prime Minister Mohammed Shia Al-Sudani chaired a special meeting to discuss the development of the work of government banks, in the presence of representatives of Ernst and Young Audit and Financial Advisory Company.

The Prime Minister explained that “the completion rate of the project for the structuring of Rafidain Bank has reached its final stages, stressing its entry into force during the next few period, within the framework of a plan that has been studied and implemented according to the standards and parameters drawn down.”
While the financial adviser to Prime Minister Mazhar Mohammed Saleh revealed to {Al-Furat News}, the birth of a new banking entity in Iraq is about to the birth of a new banking entity.
Saleh said that “the study aims to establish a new banking entity specialized in government banking operations, to meet the needs of the government exclusively. This entity will contribute to achieving the objectives of the unified treasury account, which is a crucial tool for regulating the cash flows of public finances.”
He pointed out that “the study focuses on assessing the legal status of bankers, including property rights, assessing assets and liabilities, and studying the requirements of a strategic partner if necessary, focusing on developing the two entities to work according to advanced financial technology that meets the requirements of the national banking market.”
He stressed that “the structural reform also aims to promote the integration of the two banks in the national banking market and enable them to expand towards global financial markets, especially in the areas of trade and investment financing for the private sector,” noting that “the two potential entities will rely on modern systems in compliance, governance and risk management, with a focus on digital payments.”

Ragheed
 

https://alforatnews.iq/news/الفرات-نيوز-تكشف-عن-تفاصيل-خطة-إعادة-هيكلية-مصرفي%C2%A0الرافدين-والرشيد

TIDBIT FROM FRANK26, 11 JAN

 Frank26 

 The auctions have metamorphosed, they have evolved...they have progressed to what is now called international foreign currency transfers and it's being done by private banks...You think the currency auctions that once existed that Iran was taking advantage of are still active? 

 ...You're wrong.  You're ignorant...Transfers, no longer auctions.  This is not taking a currency and converting it into any other currency.  This is moving a currency in and out of the country they could never do before.  Don't you understand the value of that?  Don't you understand how important that is for the monetary reform? 

 Ain't got nothing to do with the CBI.  It has to do with the private banks exchanging between each other and across the borders.

MNT GOAT: they are monitoring the parallel market very closely! @DINARREVALUATION #iraqidinarinvestor

 

Tomorrow.. The Kurdistan government holds an extraordinary meeting with the presence of the region’s representatives in the Baghdad Parliament, 11 JAN

 Tomorrow.. The Kurdistan government holds an extraordinary meeting with the presence of the region’s representatives in the Baghdad Parliament

To discuss the financial dues file

The spokesman for the Kurdistan Regional Government, Peshwa Hawrami, announced on Friday, January 10, 2025, that the Kurdistan Regional Government will hold an extraordinary meeting tomorrow, Saturday, to discuss the issue of the Kurdistan Region’s financial dues.

“Tomorrow at 10:00, the Kurdistan Regional Government will hold an extraordinary cabinet meeting, attended by the Prime Minister of the Kurdistan Region and his deputy, Kurdish ministers in the federal government, representatives of the regional government in Baghdad, and heads of Kurdish blocs in the Iraqi parliament, to discuss the issue of salaries and financial dues to the Kurdistan Region from the federal government,” Hawrami said in a brief statement, a copy of which was received by Al-Jabal. 

In context: “Their presence is a national necessity”.. “The Law” and “Azm” reject the withdrawal of the Kurds from the political process

Last Wednesday, the Kurdistan Regional Government Council of Ministers held a session to discuss the financial situation for 2024 and the federal government’s failure to pay the region’s financial dues. It was emphasized that it is not permissible to continue treating Kurdistan Region employees in this manner in the new year .

Earlier, Hawrami said in a statement to Al-Jabal that “the Iraqi Ministry of Finance did not abide by the Federal Court’s decision regarding the salaries of Kurdistan Region employees,” while he pointed out that “withdrawal from Baghdad is not far away and not impossible, and if the behavior of officials in Baghdad continues in this manner, withdrawal is a possible possibility.”

Read also:  Kurdish parties meet next week to discuss political withdrawal from Baghdad

The Kurds hold several sovereign positions in the political process and the Iraqi government, in addition to holding more than 70 seats in the Iraqi parliament, distributed among the Kurdish political parties that represent the Kurdistan Region in the Iraqi Council of Representatives.

https://aljeebal.com/posts/2956

STATUS OF THE RV, PART. 3 BY MNT GOAT, 11 JAN

 STATUS OF THE RV, PART. 3 

😊The next article titled “NO FEAR FOR THE REGIME IN IRAQ AS LONG AS AMERICA AND THE RELIGIOUS AUTHORITY ARE “SATISFIED”… THE GOVERNMENT IS HEADING TOWARDS “INDEPENDENCE” only confirms what Mnt Goat has been telling you all along. Iraq must gain their independence not just on paper but in practical terms.

 Now that the Chapter VII sanctions are released for over 2 years already it is time. Strategic affairs expert Mujasha’ Al-Tamimi commented on Wednesday (January 8, 2025) on the possibility of making a real change in the political system in Iraq during the next stage. So what is the next stage? The next stage is full sovereignty promised to the Iraqi people during the second invasion in 2003. 

Yes, they still are not a free country until they get back their currency, which means to control their own wealth. Money is power and control. Can Iraq regain this? Also I want to mention again, just in case you forgot, the CBI reserves are in the bank in New York JP Morgan/Chase DFI fund amounting to over $120 billion dollars. And so Iraq will also have to recover these funds too. The UN already decreed these funds should be returned to Iraq. Why has this not yet happened. Its been over 2 years already. But we are watching this closely.

😊The last not so IMPORTANT article in the news is titled “AL-MALIKI AND THE PRESIDENT OF THE REPUBLIC STRESS THE IMPORTANCE OF UNIFYING NATIONAL EFFORTS TO PROTECT IRAQ’S SOVEREIGNTY” The head of the State of Law Coalition, Nouri al-Maliki, received the President of the Republic, Abdul Latif Rashid, this evening, Tuesday, where they reviewed the developments of the political and economic reality in the country.  

During the meeting, emphasis was placed on the importance of unifying efforts between national forces to consolidate the protection of Iraq’s sovereignty and enhance its security and stability” Really? This jerk Maliki had 8 years as prime minister to do it.

 Why didn’t he work towards this goal of unification back them. He had the opportunity to do so. Just like President Obama who also promised to unify the U.S. and then his buddy Biden who also promised to unify America from the disunity of Obama. Both did just the opposite. You really have to be dumb to mess that one up. 

If you remember we witnessed just the opposite of unity with Maliki. He did not secure Iraq and ISIS invaded. There were countless constitutional infringements, and he constantly fought with the Kurds and Sunnis. He even wanted to start a covert war with Kurdistan and “wipe them off the face of the earth” by buying Russian defunct tanks from WW2. His plan not mine and we all read the article from back then. 

He also tried to smuggle out of Iraq billions of US dollars in his state jet. Is this the proper thing for a prime minister to do? This is and still is a very bad person. Funny how he added and I quote, “The two sides also stressed the need to manage political and economic affairs in accordance with the constitutional legal context.”

Trust me on this one – Nori Al-Maliki it not the man to create unity within Iraq. He hates the Sunnis and hates the Kurds even more. He sides with Iran. He is solely responsible for stopping the RV way back in 2012-2013. Then Iraq witness the massive outbreak of corruption with the currency auctions. 

He has dictatorship desires for Iraq and would love to be the next Saddam Hussein. How he survives to this day is because the US protects him. He is their puppet man. He also does work for the CIA when needed inside Iraq to do their dirty work. He must go. Wil the US finally come to its senses and move to remove him from Iraq under this next Trump administration? 

So, articles like this are ironic. This man will say anything and do anything to gain power and control and stay in power. He is a gutless person, self-serving, valueless, moral scruples with no patriotism for his follow citizens.  So now all you newbies to my blog know about Maliki. Remember this when you read his bullshit articles in the future.  He is like used gum sticking to the bottom of my shoe. How can I get rid of it. Once in a while it hinders my walking and so I need to rid myself of this nuisance. 

Next I want to cover my conversation with my CBI contact from my Wednesday 1/8 call to Iraq. It was a good call, as usual. I was told many things. I was asked to reprint the article below about the imminent process to change the skin of the Iraqi dinar. She asked me why Americans are so worried about the revaluation. She said it will be part of the process. She told me to read the article again and so I did. Below is the article. I will talk about it more following the article in this RV Update today.

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

GOLDILOCK:WTO Accession talks are expected the first quarter of this year between Iraq and WTO. Why?

 

AL-MALIKI AND THE PRESIDENT OF THE REPUBLIC STRESS THE IMPORTANCE OF UNIFYING NATIONAL EFFORTS TO PROTECT IRAQ’S SOVEREIGNTY WITH COMMENTS OF MNT GOAT, 11 JAN

 AL-MALIKI AND THE PRESIDENT OF THE REPUBLIC STRESS THE IMPORTANCE OF UNIFYING NATIONAL EFFORTS TO PROTECT IRAQ’S SOVEREIGNTY

The head of the State of Law Coalition, Nouri al-Maliki, received the President of the Republic, Abdul Latif Rashid, this evening, Tuesday, where they reviewed the developments of the political and economic reality in the country.

A statement from his office, a copy of which was received by {Euphrates News}, stated that: “During the meeting, emphasis was placed on the importance of unifying efforts between national forces to consolidate the protection of Iraq’s sovereignty and enhance its security and stability, especially since the region is witnessing major challenges that require cooperation and work to overcome them.”

He added, “The two sides also stressed the need to manage political and economic affairs in accordance with the constitutional legal context. ”

According to the statement, the two sides expressed their “desire to coordinate positions and approve laws that have direct contact with the citizen and laws that complete the structure of the political system, and maintain the current stability and transform it into permanent stability.”

(Trust me on this one – Nori Al-Maliki it not the man to create unity within Iraq. HE hates the Sunnis and hates the Kurds even more. He has dictatorship desires for Iraq and would love to be the next Saddam Hussein. How he survives to this day is because the US protects him. He it their puppet man. He also does work for the CIA when needed inside Iraq to do their dirty work. He must go. So articles like this are ironic. This man will say anything and do anything to gain power and stay in power. He is a gutless person with  no good values, morals, scruples or patriotism.)