KTFA
Toyvp » December 19th, 2022
IT IS A VERY LONG STORY WHICH ACTUALLY STARTED IN 1990 (I WILL DO A QUICK DIGEST VERSION,) WHERE THE CURRENCY WAS VALUED AT $3.2169 TO 1 IQD, WHEN S----M HUSIEN INVADED KUWAIT AND THE UN TOOK ACTION OF SANCTIONING IRAQ AND DEVALUING THE IQD
THEN THE US STEPPED IN AND BEAT S----M HUSSIEN OUT OF KUWAIT, THEN THROUGH THE YEARS S----M DID NOT DO WHAT HE WAS TOLD TO DO AND STARTED DEVELOPING WMD (I KNOW I KNOW LEAVE IT AT THAT)
IN 2003 WE WENT IN TO REMOVE HIS REGIME AND REMOVED ALL THE S----M CURRENCY, CONTRACTED DE LA RUE TO REPLACE IT AND SET THE EXCHANGE RATE AT A MARSHAL PLAN PROGRAM RATE OF APPROXIMATELY 3000 IQD TO $1 AND USING 3 000 NOTES TO KEEP THE INFLATION DOWN WHILE THE MARSHAL PLAN WAS IMPLIMENTED……….
What was the Marshall Plan simple definition?
It became known as the Marshall Plan, named for Secretary of State George Marshall, who in 1947 proposed that the United States provide economic assistance to restore the economic infrastructure of postwar Europe.
AND SINCE THEN HAS BEEN ALTERED TO DO THE SAME FOR OTHER WAR TORN ECONOMIES.
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NEED LESS TO SAY A PROGRAM RATE IS CONTROLLED BY THE IMF/UN/UST/WB AND IS NOT ALLOWED TO FLOAT WITH THE ECOMIC GROWTH OF GDP, AND THE COUNTRY IS NOT ALLOWED TO HANDLE THEIR FINANCES UN SUPERVISED UNTIL ALL SANCTIONS HAVE BEEN MET
I HOPE THIS HELPS.
WHERE AS VIET NAM IS A FULLY FUNCTIONING ECONOMY IN CONTROL OF THEIR OWN CENTRAL BANK AND FINANCES WITH NO SANCTIONS AND, THEY CHOOSE TO KEEP THEIR CURRENCY LOW TO MAKE MORE MONEY OFF THE CHEAP LABOR
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Billuke » December 19th, 2022
Thank you TOY – I believe that will help some understand.
Allow me to add…imo…when all sanctions are lifted and the “program” part of the program rate is lifted, there have been different speculations & beliefs where the rate of the IQD will start. Some believe at 1 to 1, some at various rates higher or lower, and some believe it will start at whatever the rate is at the time (1460 or 1190) and go from there.
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And there are various beliefs that the IQD starting 1190 or 1460 – won’t help Iraq. How will their economy grow at those low currency rates?
My whole thing is when I hear people say “toilet paper rate” how is that toilet paper rate going to help Iraq, who is going to invest in Iraq with a currency at a toilet paper rate?
Well, as pointed out several times over several years – companies and countries have been doing business and investing in Vietnam and South Korea with their low rates for how long now?
that’s all ….. just IMO
Clare » December 19th, 2022
An upcoming parliamentary meeting to discuss the emergency rise in the exchange rate
12/19/2022
Parliamentary circles said that the coming days will witness a meeting in Parliament to discuss the crisis of the emergency rise in the exchange rate of the dollar against the Iraqi dinar, expressing the hope that it will return to its official rates soon.
Representative Muhammad Qutayba said, in a statement followed by (Al-Mada), that “an upcoming parliamentary session will be held to discuss the rise in the exchange rates of the dollar.”
Qutayba continued, “Parliament is following the rise in the exchange rate of the dollar in the Iraqi markets with great concern because of the pressure it causes on the prices of basic materials, especially foodstuffs, which constitutes an additional burden on the shoulders of millions of poor, simple and displaced people.”
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He pointed out, “The rise in the exchange rate of the dollar in a few days is still ambiguous, and we did not receive any government indication that would reveal the reasons.” And Qutiba stated, “The session that is being prepared will witness the hosting of those concerned with the financial file to find out the reasons behind the recent rise in exchange rates and what are the solutions on offer.”
And he stressed, “The need for there to be control over the high fever to prevent the worsening of the economic conditions in the country, especially since any rise will push the segments below the poverty line.”
For his part, the other representative, Thaer Makhaif, stated that “the rise in the exchange rates of the dollar, we expect it to be temporary, and due to external influences far from everyone’s will.”
He added, “Speculations and countries that interfere in the country’s economic policy have a stake in the issue of Iraq’s economies, as is the case in their interference in political affairs.”
And he feared that “prices will return to decline and stability during the coming period, especially after the recent government measures to increase the shares of banks.”
On a related note, Representative Baqir Kazem said, “The rise in the exchange rate these days will not last more than a month, after the new measures that are being implemented by the Central Bank.”
Kazem added, “The latter will work to sell the dollar to merchants in the circle of new credits, at subsidized prices, directly.”
He pointed out, “The reason for the increase is that many merchants transfer millions of dollars to money exchangers and f--e companies working to smuggle it out of Iraq,” stressing that “the exchange rate after the new procedures will settle at 146 thousand Iraqi dinars compared to 100 dollars.”
Observers had confirmed that the reason for the rise in the dollar was the measures taken by the US Federal Bank against a number of Iraqi banks participating in the auction of selling the currency, which led to its exclusion, and a deficit in demand. %. LINK
Henig » December 19th, 2022
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The Preparatory forum for the “Iraq International Oil and Gas” exhibition and conference will start tomorrow in Baghdad
Baghdad / NINA / – The activities of the preparatory forum for the “Eighth International Iraq Oil, Gas and Energy” exhibition and conference will start tomorrow morning, Monday, in the capital, Baghdad,, in the official presence of the Council of Ministers, the House of Representatives, representatives of diplomatic missions and cadres of the sector, to highlight the promising opportunities in the field of oil in Iraq and the role of the private sector in developing Iraqi oil resources.
The preparatory forum, which will continue for Monday and Tuesday, comes as part of the preparations for the largest event in the field of oil, gas and energy, which will be held in Basra Governorate for the period 16-19 March 2023, in cooperation with the Parliamentary Oil, Gas and Natural Resources Committee, and with the support of the Ministry of Oil, the National Investment Commission, and the Ministries of Transportation, Electricity, and Environment, in addition to the Media and Communications Authority, the Iraqi Economic Council, and the organizing company, Pyramids International. LINK
Iraq and India discuss the development of bilateral relations and joint cooperation
Baghdad / NINA/- Head of the Asia and Australia Department at the Ministry of Foreign Affairs, Ambassador Dr. Hisham Al-Alawi, received Prashant Bisai, the Indian ambassador to Iraq, at the headquarters of the Ministry of Foreign Affairs.
Al-Alawi indicated during the meeting, according to a statement by the Ministry, that the Ministry is interested in following up bilateral files between Iraq and India, and supporting the work of the Indian Embassy in Iraq and cooperating with it to develop bilateral relations between the two countries, stressing the Iraqi government’s endeavor to expand its partnerships with the countries of the Asian continent.
During the meeting, they also discussed future steps to strengthen bilateral relations between Iraq and India, and ways to increase coordination between the two sides to overcome difficulties and expand bilateral cooperation in all fields.
For his part, the Indian Ambassador affirmed his country’s keenness to push relations with Iraq forward, stressing the Embassy’s readiness to follow up the implementation of what was agreed upon during the Ambassador’s meeting with the Undersecretary of the Indian Ministry of Foreign Affairs in New Delhi on the sidelines of his visit to India to attend the International Conference on Combating the Financing of T-------m last month. LINK
Source: Dinar Recaps
Frank26 » December 19th, 2022
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“INTERNATIONAL PLATFORM FROM THE CBI TO REMOVE THE BLUES OF THE CITIZENS”…….F26
Final article 2287:
New App allows Iraqis to trade US-Listed Stocks
18th December 2022 By John Lee.
Ishtar Gate Company for E-Payment Systems and Services, an Iraq-based fintech company, has reportedly released an app that allows users to trade US-listed stocks via a mobile app called Bluepay.
According to Newsfile, the company was recently approved by the Central Bank in Iraq (CBI) as the “first and only company to offer international money transfer service.“
It says the service also facilitates financial transactions to and from China.
Blue CEO Ali Al-Saeed, said:
“This is an unprecedented technology solution built and provided locally in Iraq. It has triggered other fintech-provided services such as a multi-currency solution that opens up a new horizon of opportunities in the Iraqi market.”
(Source: Newsfile) LINK ISHTAR GATE FOR E- PAYMENT SYSTEMS AND SERVICES
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Margarita » December 19th, 2022
Final Article 2287 is about Bluepay. Well I went on the old google machine and found an email to the Bluepay site. I wrote one and asked how long they have been doing business in Iraq. I got a response that they have been working in Iraq since October of 2021. So…they have been doing this thing for over a year now.
Toyvp » December 19th, 2022
THEY HAVE BEEN SETTING UP AND GETTING READY AND WORKING INTENALLY FOR QUITE A WHILE AS THEY JUST TOLD YOU, AND NOW HAVE BEEN GIVEN THE GREEN LIGHT TO TAKE IT INTERNATIONAL………IT TAKES TIME TO DO THAT MUCH WORK AND YOU SURE AREN’T GOING TO TELEGRAPH SOMETHING LIKE THAT FOR A YEAR OR 2……………………….I AM GLAD THEY ARE “INTERNATIONAL” NOW
P.S.
THEY WILL BE ABLE TO WORK IN 10 DIFFERENT CURRENCIES INCLUDING USD AND………………….MY FAVAORITE………………………..IQD………..YOU DO UNDERSTAND THAT BLUEPAY CAN TAKE IT OUTSIDE IRAQ BORDERS?…………………………..HINT…..HINT…..IT MEANS TAKE IT INTERNATIONAL
Clare » December 19th, 2022
Launching the first electronic platform for financial trading via the Internet
12/19/2022
Today, Monday, the Iraq Stock Exchange announced the launch of the Internet trading system for the shares of Iraqi joint-stock companies – for investors.
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The market said in a statement, that “based on the regulation” trading in securities via the Internet – for investors “and based on the approvals issued by the Securities Commission and the Board of Governors in the Iraq Stock Exchange and on the occasion of the completion of the implementation plan for the project of the trading system for the shares of Iraqi joint-stock companies listed via the Internet – For investors by the Carmel Brokerage Company with the Iraq Stock Exchange and the success of the testing plan that the company carried out on electronic systems and cyber examination by an entity independent of the market and the company.
He added, “The online trading system for the shares of Iraqi joint-stock companies will be launched – for Go Life investors, starting from the session on Sunday 1/29/2023,” stressing that “this step is one of the required development requirements in enabling shareholders and investors to buy and sell themselves using their stations.”
Or their smartphones through a trading application that meets the instructions and rules of electronic trading and central depository. LINK
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Launching the first online financial trading system in Iraq
12/19/2022
The Iraqi Stock Exchange announced, today, Monday, the launch of the trading system for the shares of Iraqi joint-stock companies via the Internet – for investors.
And the market stated in a statement that Mawazine News received a copy of it, that “based on the regulatory regulation” trading in securities via the Internet – for investors “and based on the approvals issued by the Securities Commission and the Board of Governors in the Iraqi Stock Exchange and on the occasion of the completion of the implementation plan of the trading system project With the shares of Iraqi joint-stock companies listed on the Internet – for investors by the Carmel Brokerage Company with the Iraqi Stock Exchange and the success of the testing plan that the company carried out on electronic systems and cyber examination by an entity independent of the market and the company.
He added, “The online trading system for the shares of Iraqi joint-stock companies will be launched – for Go Life investors, starting from the session on Sunday 1/29/2023,” stressing that “this step is one of the required development requirements in enabling shareholders and investors to buy and sell themselves using their stations.” Or their smartphones through a trading application that meets the instructions and rules of electronic trading and central depository LINK
The Iraqi Stock Exchange will stop for one day
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2022-12-19
The market said in a statement, received by Shafaq News agency, that, “Based on the cabinet’s decision to declare an official holiday for one day, starting from Sunday, December 25, on the occasion of the birth of Christ (PBUH), the market will not organize the stock trading session.”
He added, “The activity will be practiced after the official holiday, starting from Monday, December 26, according to its official timings.”
It is noteworthy that it organizes five trading sessions per week, from Sunday to Thursday, and includes 103 Iraqi joint-stock companies representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services. LINK
The Central Bank launches a package of measures to improve the performance of dollar-related transactions
12/19/2022
Today, Monday, the Central Bank of Iraq launched a package of measures to improve the performance of transactions related to the dollar.
The media office of the Central Bank said, in a statement received by the Iraqi News Agency (INA), that “this package of decisions would restore the foreign currency market to its normal state.”
He added, “The package included:
1- Allowing the banks participating in the foreign currency buying and selling window to purchase any amounts in foreign currency and deposit them with this bank in accounts used for external transfer purposes, and pay interest / returns on those balances according to what this bank decides
2- Trade financing facilitation The private sector through Iraqi banks and meeting the demand for foreign transfers by strengthening bank balances with their correspondents in other currencies in addition to the US dollar (Chinese yuan, euro, UAE dirham, Jordanian dinar and others).
3- Opening outlets for selling foreign currency in government banks to the public for travel purposes (treatment, Hajj Umrah, study, etc.)
4- Reducing the selling price of the dollar to the beneficiary (the card holder) that he uses while traveling or paying his purchases via the Internet, to be at a price of (1465) dinars to the dollar instead of (1470) dinars to the dollar, as the dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar. LINK
Source: Dinar Recaps
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