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Laid Back

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Posts posted by Laid Back

  1. “the most significant is the dispute over who would manage the oil fields in the Kurdistan Region and oil export abroad. This issue remained unresolved between Baghdad and KRG. "It is unlikely to be resolved,"

     

    The oil is to be managed by the Federal Government.

     

    Kurdistan region gets a percentage of the budget.

     

    Simple and easy.

     

    The problem is The Barzani and Talibani families don’t want to lose control 

    of the oil.

     

     

     

     

     

    • Upvote 2
    • Pow! 6
  2. The average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual income per capita that ranges between 7 to 8 million dinars per capita during the past year.” 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues.”
     

    8,000,000 IQD / 1310= $6,106 yearly 

    $500 a month.

     

    Where is the improvement?


    Where is the purchasing power?

     

    Go Stronger Dinar

    Go Purchasing Power

    • Upvote 11
  3. “She added that from 2021 to 2022, the total number of people with a bank account in local banks increased by 31%, stressing that it is “impressive progress.”

     

    31% in financial inclusion is real impressive progress.!

     

     Citizens are starting to trust the banking system.

     

     I would like to know the Percentage amount of hoarded cash “chunky money” that went back to banking system.

     

    Go financial inclusion 

    Go liquidity 

    Go Stronger dinar.

    • Like 1
    • Upvote 10
  4. “The policy of the Central Bank has moved from providing the dollar through import by the Central Bank to Iraqi banks,”


    “The banks Iraq is currently able to provide foreign currency directly, because the central bank allowed these banks to buy dollars at the parallel market price.”

     

    Another Article pointing out to the end of the CBI Currency Window.

     

    Go New monetary policy 

    Go end of currency window

    Go free market economy 

    Go Stronger Dinar

     

    • Upvote 6
    • Pow! 7
  5. “PM Muhammed S. Al-Sudani participated on Tuesday, in a productive business meeting, engaging with the heads and representatives of 57 international companies specializing in energy, oil and gas, and various economic fields.”

     

    “The significance of the implemented banking reforms undertaken by the Central Bank of Iraq," was emphasized on, asserting, "These reforms aimed to establish communication with international banks, ensuring compliance with global financial and banking standards."

     

    These policies aim to diversify the economy, boost growth, and achieve financial stability amid regional and global challenges.

     

    Iraq continues moving forward towards an open market economy.

     

    Go investments 

    Go economic growth 

    Go Stronger dinar

    • Like 6
    • Upvote 7
  6. Good News….. Getting Closer to see the real market value of the IQD

     

    “Iraq is moving forward to return as a strong economic player by opening relations with Arab countries and all countries of the world,”
     

     “I find Iraq’s accession to be a serious message from Iraq to the whole world that Iraq is continuing its path of engagement with the whole world,”
     

    Go WTO

    Go imports

    Go Exports 

    Go Economic Growth 

    Go Stronger Dinar

    • Like 3
    • Haha 1
    • Upvote 5
    • Pow! 2
  7. “He explains that "the solutions revolve around reprinting the currency again and zeroing it, especially if the printing process is accompanied by the process of retrieving the money stored inside homes to the banks. Hence, it is possible to stabilize the Iraqi dinar by giving the banks a percentage for each citizen who owns an account or opens an account within the bank, for example, 10 percent, which would be 10 percent." As a deposit for the citizen in the bank.”

     

    Go delete of 000

    Go LD notes

    Go Stronger dinar

    • Like 1
    • Upvote 9
    • Pow! 4
  8.  The White Paper 

    Axis 2.
     

    - Rehabilitation of Financial sectors
    Rehabilitate financial sectors through reforming state-owned banks, developing private banks, developing the insurance sector, and

    upgrading the stock exchange market.
    1) Addressing the capitalization level of all government banks, regulating the process of increasing their capital, if needed, and establishing and
    operationalizing the Core Banking System in Al-Rafidain and Al-Rasheed
    Banks.
    2) Accelerate the development of electronic banking and mobile banking services.
    3) Activate the deposit insurance system in order to enhance the confidence of the people in the private banking sector.
    4) Finalize roll-out of international accounting systems (IFRS) to all banks, to improve their transparency practices.
    5) Increase insurance thresholds that enable insurance companies to cover large economic projects.
    6) Enacting a new securities law and review the guidelines of establishing a Custodian bank.
    7) Opening other specialized markets such as the commodity market and the currency exchange market (Forex)

     

    Go stronger dinar

    Go international 

    Go Forex

     

    • Upvote 15
  9. “the budget, which was approved in mid-2023, is a tripartite budget, meaning that it will be applied for three years, which was estimated at 198 trillion Iraqi dinars, both operational and investment."

     

    The three years budget was estimated 198 trillion IQD. 

     

    "the government did not spend the amount of 198 trillion last year, but only spent 140-150 trillion dinars," noting that "last year's budget did not witness a deficit."

     

    In 2023 they spent about 70% of the budget 

     

     "the government alone will make amendments to the budget law for the current year."

     

    Lets wait and see what is the next step regarding the amendments in the budget

    for the current year.!

     

    Go Budget

    Go stronger dinar

    Go purchasing power 

     

     

    • Like 3
    • Thanks 2
    • Upvote 5
  10. 2 hours ago, 8th ID said:

    They haven’t really revolted before. They have had the luxury of using the dollar for their everyday transactions. Now that they can’t use it any longer and have to carry wheelbarrows of dinar for their transactions, then you will see them get upset if something is not done soon with the value of their dinar. The government has backed themselves into a corner with this. 

    I totally agree with you 8th ID.

    The Iraqi people take a lot of pride in their nation and may consider themselves special to have such a rich and prestigious history. 
     

    Go Iraq 🇮🇶 

    Go Stronger dinar

    Go purchasing power
     

    • Like 4
    • Upvote 12
  11. The USA pushing for Financial Inclusion in Iraq 🇮🇶 

     

    "modern banking services contribute to increasing foreign investment, providing loans to Iraqis, and protecting them from financial crimes, theft and loss," indicating that "informal money transfer services harm the local economy."

     

    "Iraq's reliance on cash and informal money transfer services is harmful to the economy because it reduces the opportunities for financial regulation necessary to convince prestigious international companies to operate in Iraq."

     

    May be because Dinar will have a higher value in the near future.!

     

    Go Iraq 🇮🇶 

    Go financial inclusion 

    Go Stronger Dinar

     

     

    • Thanks 1
    • Upvote 3
    • Pow! 5
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