[Iraq’s banking system grows 15.1% in 2023 to $156.7 billion]

Im not aware of any current index fund. It would be a nice addition to the ISX however.

[Iraq’s banking system grows 15.1% in 2023 to $156.7 billion]

I transferred my equities from Al-Warka Bank and Finance to Al Karmal back in 2016 as I was tired of the poor service a Warka. I'm happy that I did as Al Karmal has been of good service. Unfortunately when you tranfer funds into Karmal you have to use Swift to move $ into an account at Citi Bank under a gaurdian account. Then the funds get moved on to Bank of Baghdad and then into your Al Karmal ISX account. This is the most recent email 3/12/24 from Al Karmal on funding. Hope that this answers some of your questions.

 

If you wish to fund your account with international money transfer to Karmal's account with Bank Of Baghdad please use the below info :-

 

- Corresponding  Bank  : CITI BANK N.A

- With address  : NEW YORK_USA

- SWIFT CODE : CITIUS33XXX

 

- Credit to Beneficiary's Bank in iraq: BANK OF BAGHDAD / MAIN BRANCH .

- SWIFT CODE: BABIIQBA

 

- Beneficiary name : Karmal Stock exchange

- Beneficiary Address : Iraq  - Baghdad  - Al Karada  –    903  / 14 / 6  Near  Badalat Al Alwieya .

- Karmal account number in Bank of Baghdad : 00025160020042280 (USD)

 

And provide us a copy swift paper of your wire transfer through email.

 

Warm regards,

[JP Morgan Sudanese Bank: We Are Ready To Open Accounts For 3 Private Iraqi Banks]

So when can you tell us the names of the private banks?

[The largest theft in the history of Iraq.. Deputy: We lose $21 billion annually for this reason]

The head of the New Generation Parliamentary Bloc, Sarwa Abdel Wahed

Looks like the younger generation is fed up with traditional tribal corruption at their expense in this tech modern world. The demographics have changed dramatically!

[Al-Sadr condemns America's declaration of a "g ay state" and refuses to "force or entice" Iraq to engage in "this outrage".]

Why can't all nations be as progressive as the USA?......LOL

[Car showroom owners complain about the decision to deal with Iraqi dinars]

On 4/19/2023 at 5:27 AM, rvmydinar said:

NOW?? Does " NOW " mean " RIGHT NOW "??? Has The rate still been 1,310 at the cbi site NOW?

1.) Just wonder , Which site that shows USD 1= 1.5 Dinar NOW ( That means 1 dinar= 0.67 USD )??

2.) Which Dinars are they talking about? Kuwaiti Dinar ( 1 KWD=3.2 USD )?

Exactly! 1.50 dinars in comparison to what currency?

[Adviser to the Prime Minister: Accelerating the approval of the oil and gas law will establish two important matters]

Again we ask. If the reserves of 115 Bilion are the highest in Iraqi history. Then why continue with the program rate of 1300 IQD to 1 USD? The rate of exchange was higher under the Sadaam regime. It should be obvious to all that things just don't add up!

[A deputy calls on the government to limit internal monetary dealings in dinars only]

Gotta think bigger than just internal buddy! You gatta think International trade in IQD!

[The Council of Ministers approves the amendment of the exchange rate of the dollar, equivalent to 1,300 dinars]

2 minutes ago, keylime said:

You may have to accept 1.30 if they drop the zeros from this rate. Just my 3 cents..er...your 3 cents

My thoughts exactly!

[The Central Bank announces the proceeds of selling the dollar through the electronic window]

One has to ask, at what point does Iraq stop their addiction to the USD and reveal the real rate of exchange? the current rate is bleeding the reserves of Iraq isn't it?

[The Central Bank of Iraq decides to reduce the exchange rate of the dollar to banks (Document)-Urgent]

Seems a good strategy to get citizens to sell their Dinar. The more Dinar out of circulation the better for us all. Besides we all know that it's a fake rate anyway!

[The Central Bank: New cooperation between Iraqi and international banks]

So the Iraqi deposit insurance fund has a value of almost 70M USD. Pretty good after 25 years since the order to start the fund! 

[International Monetary Fund: Iraq's GDP growth over the next 5 years]

How credible is the IMF ?

[Parliament building devoid of demonstrators, and sit-ins are concentrated in its surroundings (new photos)]

is this an "insurrection?"

[An economic center reveals major losses for Baghdad hotels for the year 2021]

Maybe business was down because green zone accommodations offer ammenities like

1) happy hour cocktails

2) open bar (beverages) in your room

3) spa services (pools, facials, masssage, turkish baths, manicures, pedicures, colon cleanses)

4) adult movies

5) electric rental cars

6) hot and cold running water

7) ? 

[A Deputy Launches A Sharp Attack On Al-Kazemi And Accuses Him Of Keeping The Iraqi Economy Captive To America]

Moussawi warned that "the dollar exchange rate will rise to 160 thousand dinars if the current price is fixed," considering that "the policies followed by the Central Bank are wrong and they are subject to the policies of the International Monetary Fund."

 

The price is fixed because of policy! The policy has failed!

•  

[Canceling The Currency Auction, Reducing Borrowing, And “Isolating” The Central Bank’s Reserves ... The Most Important Thing For Hard Currency In The 2021 Budget !]

As long as I have been in this investment, Iraq has been fighting corruption. Involved in a crisis. Fighting over the budget. Fighting the Kurds over oil distribution. Civil wars and genocide within it's borders. Having debt problems (claimed). And the extended list can reach heaven! I do believe that if the GOI cannot improve the economic conditions very soon, they will loose it all! I honestly will be shocked if they succeed! Through the last 15 years following this investment, I had no idea that it was going to be such a long shot. 

[An Iraqi-Saudi agreement to facilitate trade exchange]

Why open a bank branch right at the border? both country's are using the USD. Unless there will be an exchange rate change and the IQD will be the primary currency?

[The price of the dollar is still high]

I always remembered that Breitling said look for government officials denials of rate changes. This is usually when things unexpectedly happen!!

[Al-Rafidain gives "financial benefits" to those wishing to open an account]

It's been over 2 years since I have visited this site for the latest Iraqi news. Nothing has changed a bit. These guys are still all talk! We need a little less talk and a lot more action!!

[The Kurdistan Parliament votes on the drug laws and Turkmen occasions]

Sounds like an advanced civilization!

[Today .. the commencement of the distribution of plots of land among citizens]

This is a good thing! The government is helping to establish private property rights! This must be established in a civilized modern society in order for the banking industry to distribute benefits to citizens! Home loans, business loans and the list goes on.

[Iran declares its readiness to return to all its obligations under the nuclear agreement]

Clever smoke screen!

[The Ministry of Interior directs the cancellation of all leave and arms permits and issues a new mechanism]

So I suppose that after hours is when the criminals can off the special permit holders! LOL!!

[Central Bank Basra branch introduces a window to provide small cash categories]

What I'm reading is that Iraq is turning up the VELOCITY in trading the IQD domestically. As I understand it, the traded Velocity of currency helps to increase and support its value. This is why the USD is so strong!