More News, Rumors and Opinions Tuesday PM 10-8-2024
KTFA:
Clare: The Bank of Iraq extends working hours to complete money transfer transactions
10/8/2024 Baghdad - WAA
The Chairman of the Trade Bank of Iraq (TBI) directed, today, Tuesday, to extend working hours to complete money transfer transactions.
The bank's media spokesman, Aqeel Al-Shuwaili, told the Iraqi News Agency (INA): "The bank's director directed that the work of remittance employees and cashiers in all bank branches should start from 7:00 am until 3:00 pm in order to complete all transactions related to financial transfers."
He added: "Work will continue according to the above mechanism until the completion of the last transaction within the branch." LINK
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Clare: EXIM Bank approves $297m for Energy Project in Iraq
10/8/2024 By John Lee.
The Export-Import Bank of the United States (EXIM) has approved a $297 million final commitment in support of an energy efficiency project in Iraq.
The project will increase the availability and reliability of electricity in Iraq by generating power through waste heat.
Florida-based Stellar Energy Americas, Inc. will provide engineering, procurement, construction and other services in support of this project.
This transaction is estimated to support 600 U.S. jobs across more than half a dozen states. LINK
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Clare: Governor of the Central Bank of Iraq chairs a meeting on bank lending
October 08, 2024
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, chaired the first meeting of the Supreme Executive Committee for the National Strategy for Bank Lending in Iraq, formed by virtue of Diwani Order No. 51 of 2024, in the presence of the Undersecretaries of Ministries, Organizations and Concerned Authorities.
During the meeting, the importance of the role of the banking sector, government and private institutions was discussed, and their role in implementing this strategy and implementing the main axes and sub-objectives of the National Strategy for Bank Lending was defined.
His Excellency the Governor stressed that the National Strategy for Bank Lending aims to stimulate and stimulate the Iraqi economy, in addition to achieving growth in all areas, which this strategy will contribute to through the establishment and expansion of small, medium and large enterprises, stressing the importance of cooperation of the relevant authorities in the success of this task, which is a priority at the national level in providing job opportunities for young people and investing their energies and capabilities in a way that achieves economic growth in the economic sectors.
It is noteworthy that the Central Bank of Iraq launched on May 25, 2024, the National Strategy for Bank Lending in Iraq for the years 2024-2029, in the presence of a number of officials and representatives of diplomatic missions and international organizations. The axes of what was included in the strategy and the mechanisms for working on it were determined, each according to his specialization.
Central Bank of Iraq
Media Office
October 8, 2024
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Aki Iraqi bank manager friend in U.S update] I have just been given my latest orders. I am being told to stay close to home. I will not be able to go to Thanksgiving...Christmas with my friends. My orders tell me that I am to stay here in Dearborn. The CBI bank is going to make us very busy during these holidays. We are having a lot of Iraqi citizens coming into our banks here...They...are talking to us about the same thing you are asking us. They found out they're going to get their HCL. They found out about the cards. They want to know how they're going to get their retirement money outside of Iraq. They also what to know if they will also be able to receive the new lower notes.
SkyWalker Removing or as Dr. Shabibi said cutting zeros, IMO is not a lop. Many are confused on what deleting zeros means. How did the inflationary zeros get on the dinar we hold? The Saddam Swiss dinar was collected and swapped for the new dinar...Deleting the zeros is simply repeating the process by collecting three zero notes back to the banks and swapping them with lower notes.
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Soft Landing VS Economic Crash Which is More Likely?
Taylor Kenny: 10-8-2024
Is a soft landing really possible? Learn why the current economic situation may be headed for a crash, not a smooth recovery. Discover the risks tied to high debt, inflation, and Federal Reserve policies, and what you can do to protect your financial future.
CHAPTERS:
00:00 - Soft Landing
00:38 - Why This Time Won’t Be Different
01:46 - Fed Rate Cuts and Lagging Indicators
03:17 - Soft Landing: Historical Optimism vs Reality
05:04 - High-Yield Savings and CDs at Risk
06:41 - Rising Inflation and Unemployment
07:50 - Why Soft Landings Are So Difficult
09:03 - How to Protect Your Wealth