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KTFA
Samson » July 21st, 2022
Electronic platform
21st July, 2022
The Central Bank will adopt a specialized electronic platform for the purposes of exchanging documents and data with all banks .. To view, click here
Translation….
Based on the keenness of this bank to develop banking work in accordance with the best international practices in line with the technical developments taking place in the global banking industry, which will be reflected in raising the level of compliance of the banking sector operating in Iraq with local and international requirements
This will give him more opportunities to expand external banking activities with correspondent banks and thus attract a larger segment of the commercial operations available in the market.
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As this bank will adopt a specialized platform for the purposes of exchanging documents and data with all banks, which will allow you to benefit from many services, including foreign exchange and shares trading, and access to global financial markets in order to analyze financial data to benefit from them in raising the level of efficiency of decisions related to investment and others, so your banks must participate On this platform, no later than 15/8/2022
And you can contact the Department of Financial Operations and Debt Management via e-mail (e-platform@cbiraq.info) for the purpose of asking any inquiry or clarification from you regarding the method of subscribing to it. with respect . LINK
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ATPInfinity » July 21st, 2022
Who is in a CBI hurry now? Hey, this was announced yesterday and today we have a DEADLINE in less than 1 month?
“… so your banks must participate…On this platform, no later than 15/8/2022…”
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Tivon » July 21st, 2022
Are you all seeing this right now? Another one already?
They just posted the other CBI article yesterday. Access to global financial markets? Does that sound like Financial Inclusion to you? What can possibly be added to this monumental news?
It’s not even 8am and we got this. Can you imagine what the rest of the week will be like?
I had to read this multiple times. Thanks for the shot out Frank. Very great info on the CC. We are approaching home plate people.
I wouldn’t be surprised that Monday would be the last CC. That is not a stretch at all. August 15th seems like a time where they can move much faster but are giving a grace period where if the banks happen to miss an earlier train they can catch the next one at the same stop. IMO
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DinarDiva1 » July 21st, 2022
Deadline 8/15/2022 So we have 3 more weeks before we see any change IMO IMO!
Tivon » July 21st, 2022
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You know initially I read it that way as far as them making a move on the rate change after 8/15/2022. But it seems as though the (CBI) can make a move anytime before then but offered a grace period for banks who may not be ready to have their affairs in order by the 15 of August.
Because if contracts, wages, or salaries are being adjusted now it seems two timetables are at play. One for the ministries and one for the banks.
The ministries have already started. So obviously they were given information prior to the publication of these CBI articles to prepare for the change. Things are moving fast now.
The dollar is tanking right now so this is a perfect time for the IQD to make a move. D. Trump has always said it was to high for countries to do business with us. IMO
Jeff » July 21st, 2022
I was thinking along the same line Tivon. The CBI isn’t saying it will take that long. They are saying what you said in your original post. If you miss the first train, you can catch the second one. Keep in mind folks, we deal with our US Treasury, not the CBI. The CBI is communicating with Iraqi Banks and Central Banks around the world. IMO
Clare » July 21st, 2022
IT IS AMAZING WHAT WE ARE SEEING!!!… IMO WE ARE AT HOME PLATE, BATTER UP, ACTUALLY TWO … SEATED GOI & CBI …TAKE THAT SWING… IT WILL SURELY BE A GRAND SLAM! IMO
Tivon » July 21st, 2022
Absolutely…. I see we are just about there. I stayed long enough to get a point across and now everyone sees that the EFSL was not a fluke. Can’t imagine where we would be if it wasn’t for that grand chess move. Just glad everyone understands the implications of this law and how it got us here. It cut through all the BS we have been enduring for all these years. The writing is on the wall. Great times ahead for everyone. We are either days or weeks away. I wonder if the CBI still plans on making a move this week? We’ll see soon enough. IMO
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Jerry1971 » July 21st, 2022
it’s a great time to be a dinarian no more waiting the Cbi is in a hurry to bring out the new exchange rate to it’s people and the world at large.IMO.
Wagmaster » July 21st, 2022
We went from “blitzing to home plate”? Would like to see. GAME OVER!
Tivon » July 21st, 2022
That’s just being sporadic. Baseball is a good analogy I must say from where we are. But I still say we on the 1st & 10 with a minute left while having a 2 point lead in the 4th qtr with our star line up ready to close the show. Hopefully Al-Kazemi gives KTFA a shot out in the post interview. IMO
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Venustwo3 » July 21st, 2022
Wow !! great news today. It sounds like I should revise that 2 week resignation letter. Thank You Tivon for your dedication to this forum and the members who have come to rely on your explanation of the articles. You are greatly appreciated.
Tivon » July 21st, 2022
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Yeahhhhhhhhhhhhhh, you ready for the big leagues? You are about to step into a whole new lifestyle. Hope you got everything ready. Documents. Files. Portfolios. Spread Sheet. Etc. Things are in play that can shift everything in a matter of days. So don’t get comfortable. Be ready to exchange at anytime now. We are way past the dry spots. As evident from the CBI itself. There’s no denying this. Look how frequent you are getting updates from the CBI. You think they are not eager to pull the trigger? Goodluck to everyone. You guys need to be ready at all times from this day forward. IMO
Popeye7 » July 21st, 2022
God’s will be done… Hopefully the ball will get over the line soon, or be smacked over the centerfield wall for a grand slam… Thanks Clare, and Tivon… God bless, and His peace be with us all here…
Tivon » July 21st, 2022
You welcome my fellow compatriot. We are high on the hill. Panoramic view from where we are standing now. It took us a while to get here. So many ups and downs. Twist and turns. We pushed through and made it to see the grand finale. Well deserved. And that’s not even the best that is coming for us. The Dinar is a side show for me. It only gets 30% of my time. Which I spared mostly here. But there are other things that far outweigh this investment that keeps me going. I just know this is basically the catalyst for everything afterwards. Which will be a paradigm shift for the ages. God Bless. IMO
Source: Dinar Recaps
Samson » July 21st, 2022
Al-Obaidi: The Iraqis Are Feeling Frustrated Because They Have Lost Hope In The Political System
21st July, 2022
The leader of the Alliance of Resilience, Khaled Al-Obaidi, confirmed today, Thursday, the extent of the frustration that Iraqis feel because of their loss of hope in the political system
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Al-Obaidi wrote on Twitter, and Earth News followed him, saying that “the amount of frustration that Iraqis feel because of their loss of hope from the political system, holds all blocs, led by the brothers in the coordinating framework, a great responsibility to expedite the resolution of the issue of choosing the prime minister to start forming a government of services, investments and employment. It sets clear and binding deadlines and time limits for itself to carry out its duties towards the Iraqis, and so that it is not a government of promises without promises LINK
The repercussions of the European Central’s decision to raise the interest rate on the Iraqi economy
21st July, 2022
The economic expert, Sabah Alo, confirmed, today, Thursday, that the European Central Bank’s decision to raise the interest rate to 5% will affect the value of the Iraqi dinar, despite its stability during the current stage.
Alo said in a statement to (Baghdad Today), “The European Central Bank’s decision to raise the interest rate to 5% indicates an increase in the monetary inflation process, as the euro will be clearly affected against other hard currencies.”
He added, “This decision directly affects the rentier-economy countries that depend entirely on their sale of various kinds of wealth in dollars or euros, which will lead to an increase in the prices of imported and manufactured goods in European countries and America, where the monetary inflation situation is high.” “Turkish and Iranian goods are currently on the rise, and this is a result of global inflation caused by the Russian-Ukrainian war,” he added.
He pointed out that “Iraq will be directly affected by these global economic changes, as it does not carry out industrial and agricultural operations for the materials it needs, and this will lead to a decrease in the value of the Iraqi dinar despite its stability.
In return, the value of the dollar or the euro and the hard currency that Iraq receives as a result of selling oil or gas will be affected.” It negatively affects the ethnic citizen. He pointed out that “the ethnic government must take measures to maintain a simple inflation rate that does not directly affect the livelihood of citizens.” LINK
The Turkish lira is at its lowest level in its history
07/21/2022 15:42:32
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The Turkish lira recorded its lowest level in its history. The price of 100 dollars was 1768 pounds.
The Turkish Central Bank announced today, Thursday, that it will keep the interest rate at the level of 14%, and the decision came in line with analysts’ expectations.
The Central Bank said after its meeting today: “The Monetary Policy Committee decided to keep the repurchase rate “repo” for a week at 14%.” LINK
Ukraine devalues currency by 25% against greenback amid war
21st July, 2022
Ukraine’s central bank on Thursday devalued the national currency by 25% against the greenback in order to protect its foreign exchange reserves as the ongoing war continues to batter its economy.
The move comes a day after it was reported that Ukraine had requested foreign debt payments from key creditors.
It altered the official exchange rate of the hryvnia to the US dollar by 25%, to UAH/USD 36.5686, according to a statement from the National Bank of Ukraine (NBU).
The decision was motivated by a shift in the fundamental parameters of the economy, it said. “This step will improve the competitiveness of Ukrainian producers, converge exchange rate conditions for different groups of businesses and households, and support the resilience of the economy during the war,” it added.
The adjustment of the official hryvnia exchange rate will have only a limited impact on the acceleration of price growth, the central bank asserted, adding that “instead, fixing the official rate at a new, more stable level will allow the NBU to keep price developments in Ukraine under control.”
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“Changing the exchange rate will raise inflows – and thus sales – of foreign currency revenues by exporters, minimize the speculative behavior of market participants, and allow stabilizing exchange rate expectations,” the bank said. LINK
Britain Imposes A Ban And Sanctions On The Import Of Gold, Coal And Oil From Russia
21st July, 2022
The British government announced, this morning, Thursday, the imposition of a ban and sanctions on gold imports and the import of coal and oil from Russia
And the official statement was published on the British government’s website and stated, “This amendment prohibits the import of oil, petroleum products, coal, coal products and gold, as well as the purchase, supply and delivery of these products directly or indirectly
The ban on gold imports from Russia will come into effect on July 21, in addition to the ban on coal imports on August 10, 2022
The ban on oil imports will also enter into force on December 31, 2022 LINK
Source: Dinar Recaps
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