Frank26 They told the Iraqi citizens we are in the process of adding a mechanism to add purchasing power to your currency. Sudani constantly kept talking about it in November and December last year – ‘I promise I’m going to do it. I promise you’ll have more purchasing power than the dollar.‘…He actually kept his promise because there is no dollars in the country of Iraq. The only currency in Iraq right now is the Iraqi dinar…It has more value than the American dollar that has zero value inside of Iraq, therefore the Iraqi dinar now seeks a door…
Militia Man The cash cow is seriously coming to an end. We already saw that the black market/parallel market/dollar auctions they’re bye-bye…It’s true. It’s in writing…Those that are out there suggesting that it wasn’t going to happen, it already did…
MarkZ [via PDK] Article: “The house of Representatives votes to amend the passport law and extend the work of the election commission” If you read deeper in the article is states the second reading of the budget law was successful! We did indeed have the second reading today.
Sandy Ingram At the present time, January 2025 the Central Bank of Iraq has severe limitations on trading the IQD on the markets. We are not sure if the limitations are because of U.S. sanctions, the Islamic faith or both…One of the fundamental tenants of Islamic finance is the prohibition of gharar, or excessive uncertainty and maysir or gambling both of which are deemed detrimental to individual and societal well-being…The foreign exchange market presents a challenging ethical dilemma for Muslims. While forex trading is a legitimate global financial practice, its nature and mechanisms often raise questions…Gambling or maysir, is unequivocally prohibited in Islam…However some scholars suggest forex trading can be permissible if conducted in a manner that avoids speculation, interest and excessive risk.
Jeff ‘Enhance integration into the national and global banking markets.‘ That’s why this is waiting for the rate to change. You have to have an internationally convertible recognized currency first, then they can get into the global banking market.
Frank26 We have security and stability in order to introduce the new exchange rate that Dr. Shabibi and the US Treasury have been protecting for a long time. There are no more CBI auctions. It is now called… remittance, just like the American banks do…The CBI is now functioning exactly like international banks, exactly like American banks…
MarkZ [via PDK] Question: What is your gut feeling Mark? MarkZ: My gut is screaming sometime between now and Jan 22. Just a guess…
Pimpy Article: “CBI Tower and Grand Faw Port Ranked Among World’s To Mega Projects for 2025” There are a couple of mega projects already taking place in Iraq somehow, someway with the currency exchange rate…Congrats to Iraq and their CBI tower and the Grand Faw Port ranked among the top meg projects in 2025. I know the tower is almost completed and the Port of Faw is partially open already. This is moving right along and they did it with a current exchange rate…
Fnu Lnu [Reply to Guru Bruce’s higher contract rate on dinar post on 1-12-2025 below] …There is no “contract Rate” except for the people who have pre-2011 Private Purchase Contracts. If you do not have such a contract, you WILL NOT get a contract rate. Contract Rates are not paid by banks but rather by the contractor. This is Dinar Mythology and there exists NO PROOF of any such contract rate. If you want to go into the bank and sound like an idiot, then be my guest. Everyone will get exactly the same rate due to “The Law of One Price”. This can be verified. You must ask yourself how you might get a “contract Rate” without a contract? However, the banks may well have varying rates on the exchange fee but that is generally around 2%.
Above mentioned is below
Bruce [via WiserNow] I’ve been telling you guys to ask for the contract rate on dinar, if you have Iraqi dinar, and that would be substantially higher. I know roughly what it is. It’s much higher. And I was told that they discussed this on their conference call, and it was determined previously that everyone with the Dinar would be offered the contract rate. Now here’s the caveat. Let’s say you go into a redemption center, but you have dinar and they don’t offer you the contract rate, then ask them for it.
Militia Man In my view this reeks of a need to change the exchange rate for the Iraqi dinar or they would have already done it. If they’re going to an international state, they should have already done it by now if it was going to stay the same exchange rate…Everybody that’s been involved with the dinar should [ask], ‘Well they’ve been at 1310 for a year or more, why haven’t you done it yet?’ That’s because they’re looking for an exchange rate change because that’s what’s going to happen.
Clare Article: “The House of Representatives completes the second reading of the draft amendment to the budget law“ Quote: “The Council of Representatives concluded, in its session today, Monday, the second reading “Report and Discussion” of the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 – 2024 – 2025) No. (13) of 2023.”
Frank26 Everything is moving extremely fast. When we reach this 1,000 to 1 you know how quickly they can lift those three zeros? [Snap] like that. Pushing a button and now you’re one to one…float it. Start at 1 to 1 and see where it goes from there. Everything is moving so fast because de-dollarization.
Mnt Goat Article: “AL-NUSAIRI: EXPLAINS THE NEW MECHANISM FOR EXTERNAL TRANSFERS AFTER THE PLATFORM IS CLOSED” …the best part of the article is the CBI is telling us that this new strategy is normal and is working so far. I quote: “This means that the Central Bank has achieved a basic objective of monetary policy.”
MarkZ [via PDK] Article: ”Parliamentary Finance: Political Blocs do not agree to amend article 12 on the region’s oil” HCL gets its second reading on Monday…it appears there will be serious progress on the HCL. This is a case where the title of the article does not reflect the content…I am being told if the second reading goes well…they will immediately do the third reading…then Boom we will finally have the HCL.
