More News, Rumors and Opinions Tuesday PM 1-14-2025
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Clare: Economist describes the establishment of the first Rafidain Bank as an excellent step
1/14/2025 Baghdad
Economic expert, Mustafa Akram Hantoush, described the establishment of the first Rafidain Bank as an “excellent step.”
Yesterday, Monday, the Council of Ministers decided to establish the First Rafidain Bank with a capital of one trillion dinars and a government participation rate of 24%.
Hantoush told Al-Eqtisad News, "Establishing the First Rafidain Bank is an excellent step, especially since it will be a mixed sector company."
He added that the new bank will help the state enhance its payment and electronic transaction capabilities, in addition to assisting the Trade Bank of Iraq in transfers and credits. LINK
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Clare: Al-Sudani discusses with the British King establishing a "productive partnership" between Baghdad and London
1/14/2025
The Minister Mohammed Shia al-Sudani discussed today, Tuesday, with the King of the United Kingdom, Charles III, establishing a "productive partnership" between Baghdad and London.
A statement by the Prime Minister's Office received by Shafaq News stated that "Al-Sudani met today, Tuesday, with the King of the United Kingdom, Charles III, at Buckingham Palace in the British capital, London. During the meeting, bilateral cooperation between Iraq and the United Kingdom was reviewed, as well as ways to establish a productive partnership in various economic and development fields."
The statement added that "the meeting discussed cooperation in the field of confronting the challenges of climate change, and opportunities to enhance cultural cooperation."
According to the statement, Al-Sudani expressed his "appreciation for the official invitation he received to visit Britain," stressing "Iraq's determination to consolidate constructive bilateral relations in various fields, in a way that enhances the mutual and sustainable interests of the Iraqi and British peoples."
For his part, King Charles III welcomed Al-Sudani, pointing out "the depth of the historical relationship between Iraq and Britain, and the prominent importance that the governments of the two countries attach to developing common interests and understandings at various levels." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Article: “ECONOMIST: THE CENTRAL BANK’S POLICY IS MOVING TOWARDS GLOBALIZING IRAQI BANKS” Quote: “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.” Yes, “providing guarantees and international compliance” is all insurance related. Investors in Iraq need to know that their funds in Iraqi banks will be protected... [Post 1 of 2....stay tuned]
Mnt Goat Article quote: “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors? We know that...conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place. Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement...Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement? [Post 2 of 2]
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Food And Energy Costs Set To SKYROCKET! AS DOLLAR DIES FASTER.
Greg Mannarino: 1-14-2025
US BANKRUPTCIES SOAR to 14-Year High as Banks Brace For Impact
Taylor Kenny: 1-14-2025
U.S. corporate bankruptcies have soared to a 14-year high, reaching levels not seen since the 2008 financial crisis. This video explores the implications of these bankruptcies, their impact on banks, and the looming threat of a widespread financial crisis. Learn why this isn’t just about struggling companies—it’s a sign of deeper instability in our economy and financial system.