Delta, Militiaman and KTFA Members Wednesday AM 12-25-19

KTFA:

DELTA:   We would like to inform our valued customers

That cash withdrawals will be suspended at all Branches of the Iraqi Bank of Commerce from Thursday, December 26, 2019 to conduct annual inventories.

These operations will resume from Sunday, January 05, 2020.

So it's worth noting.

MilitiaMan:  So this is starting on the 26th. Hey folks no cash starting on the 26th.. Better get in and get what you can now if need be.. -MM

RE: All Delta Posts  

MilitiaMan:  So on the 26th they start stopping cash withdrawals then on the 29th they stop cash deposits.. They seriously are telling everyone that something is a foot and don’t get fought blind. Just as the CBI told everyone to be prepared to modify contracts, in which the ITB do exactly that and now are going even further!! – MM

MilitiaMan:  Now they correspondently say from the 29th no deposits in cash and also no foreign remittances are to be made through the 01/05/2020.. No wire transfers? Really? Talk about a huge deal.. They have this timed like no other!! Oh ya!! - I don’t care who is at the helm of the CBI anymore.. it matters not at this stage. Alak has been tapped for the AMF is all real time data the rest is hearsay! Imo – MM

StephenMac63:  IMO, this will also give the citizens confidence after they have a crash course in using the Cards, essentially a step in weaning them off of cash altogether in the future......unless the cards will also be out of service.

MilitiaMan:  Yes, financial inclusion has been a main focus from many entities.. Having the new system in place with massive education over time has the citizens and banks ready to convert now.. imo - MM

Pennypan:  Remember people that many of Iraqi citizens keep cash in their homes becuase they don't trust the banking system.  This shouldn't make a huge difference to the average citizen.  That being said, I do hope that the NSCN are being put into the ATM's   and the RV happens in time for the banks to be back online. Just my humble opinion...

MilitiaMan:  The point is they have a time line to convert! Imo -MM 

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Delta:  Disclaimer: The PRICE OF THE dollar has now changed

*Islamic Spectrum Bank offers its valued customers a service to buy and sell foreign currencies at the best competitive prices supported, The price of the dollar may change

Rommy:  The price of the dollar may change or the value of the dinar may change?

MilitiaMan:  “The price of the dollar may change.” Another indicator warnings are flashing and even suggesting they may have or can at a moments notice!! Imo - MM

Chappy86:  Or they may be telling the citizens to get rid of their USD because the IQD is about to be 3 times the dollar, in Country.

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Samson:  Trade Bank of Iraq

24th December, 2019

We would like to inform our valued customers
The branches of the Iraqi trade bank mentioned below will stop providing all kinds of banking services on Tuesday, 2019/12/31 at 11 am for annual inventory.

- Erbil Branch.
- Sulaymaniyah Branch.
- Gray Branch.
- Kharthiye Branch.
- Pool Branch.
- Iraqi Red Crescent Society Branch.
- Pub Mall Branch.
- Babylon mall branch.
- Prestige Khatun Branch.
Baghdad International Airport Branch.
- International Region Branch.
- Branch of the house of representatives
- the suit branch.
- Karbala Branch.
- Najaf Branch.
- Kut Branch.
- the building branch.
- Basra Branch.

Work in the branches will resume on Sunday, 2020/1/5
So it needed to be mentioned.

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24th December, 2019

We would like to inform our valued customers
The branches of the Iraqi trade bank mentioned below will stop providing all types of banking services on Monday, 2019/12/30 at 11 am for annual inventory.
- Liberation Branch.
- Ministry of oil branch.
- Maysan Oil Company Branch.
- M Mall of sulaymaniyah.
- M Mall Erbil Branch.
- Nasiriyah Branch.

Work in the branches will resume on Sunday 2020/1/5
So it needed to be mentioned.   LINK

Samson:  Parliamentary Finance: The government approved the price of $ 56 a barrel of oil in the 2020 budget

17:39 - 24/12/2019

The Parliamentary Finance Committee confirmed, on Tuesday, that the Council of Ministers approved the price of $56 per barrel of oil within the draft federal budget law for 2020, while it indicated that the price of selling oil may rise after discussion in Parliament.

Committee member Hanin Qaddo said in a statement to "Information", that "the cabinet approved the price of $ 56 per barrel of oil within the draft federal budget law for 2020," noting that "the government has not yet sent the federal budget items to the House of Representatives."

He added that "the House of Representatives may raise the price of selling a barrel of oil to more than 60 dollars after discussing the budget that will be sent to it," noting that "raising and lowering the price of selling oil depends on international oil prices and the size of the fiscal deficit in the budget."

The Parliamentary Finance Committee confirmed, earlier, that the dispatch of the Council of Ministers to the Federal Budget Bill for 2020 is dependent on naming the new Prime Minister.    LINK

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Samson:  Including the second reading of the second amendment of the retirement law .. Parliament announces its agenda for Thursday's session

25th December, 2019
The Iraqi parliament is scheduled to hold its 26th session tomorrow, Thursday, to vote and discuss three laws aimed at legislating them.

Tomorrow's session, according to its agenda, includes a vote on the federal civil service bill, as well as a vote on the proposal of the first amendment law for the Federal Financial Administrative Law, and a report and discussion (second reading) of the second amendment bill for a unified retirement law.

The Council held two sessions yesterday, one of which voted on the draft legislative elections law despite the objection of the Kurdish blocs, and the second session completed the first reading of the second amendment bill for the unified retirement law.   LINK