MM&C Iraq Dinar News-Global Investment-United Kingdom-Central Bank Iraq-FOREX-10 Strong Currencies
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Welcome to Melissa Man & Crew. Today is Thursday and I believe it’s the 16th. So, let’s hope and see what happens this weekend, but I’ll tell you some of the stuff that’s come out of late about Iraq and related topics has been phenomenal.
Samson, Super Samson, our new sound she has been just knocking out of the park, bringing information. I can’t even get to it all. She brings in that much information.
The good part is the key points, the finer points, I try to get to it, at least get to that point for you guys. Here in patreon.com forward slash M-M-A-N-D-C-R-E-W, and our free Discord chat room that comes with it, the membership. It’s 9.99 USD a month.
So, there’s value. Come and check it out for a month and try it out. So, I hope to see you there.
But in the meantime, Al Sedani confirms two British companies that Iraq is open to various investment in development activities. I think we all pretty much know that, but the Prime Minister on Wednesday says Iraq’s openness to various investment and development activities during his meeting in London with a number of representatives of British companies. That’s pretty big.
If you guys remember the news, they said he was going to be there for one day, but he was there for three. It says Al Sedani met with representatives of 24 major British companies in various sectors and activities in addition to a number of businessmen in the presence of the British government on the sidelines of official visits to that British capital in London. The Prime Minister goes on to stress that the investment and investment spaces become open and attractive to various types of investment in development activities.
He pointed out that the meetings and agreements that were signed by the British side needed to be translated into actions and steps, and at the most important part now falls on to companies. So, he’s put it on the companies. That’s up to you guys.
We’ve set it out for you. He goes on and says we’ve carried out real reforms in Iraq, and we have put in place real support facilities and procedures for the private sector, including the tax and customs reality, company registration, and all approvals related to investment opportunities, indicating that sovereign guarantees have been provided to the private sector to implement projects, and today we signed with the UK EF, what is related to this step. He goes on and says we are keen in carrying out reforms in the banking and financial sector, and all our financial transfers are conducted through a direct transfer system, through an international intermediary banks, and are subject to auditing by specialized companies.
I think you guys, if you know with the totality of that, is very important and suggest Iraq’s internationalism is on the way. He says Al Sudanese says this. He says Iraq is a three-year budget, the tripartite budget, and $100 billion has been allocated for the investment budget of ministries and the governance.
It says relationship between Iraq and Britain witnessed projects worth about $1.5 billion during the year 2024 in the public and private sectors. He goes on and said that Britain is a strategic partner of Iraq, calling on British companies to contribute to Iraq, building Iraq, and achieving the desired development, noting that the volume of Arab and foreign investments in Iraq within two years will reach $63 billion. So, in total there you guys, they said $100 billion has been allocated for the investment budget for the ministries of Iraq, and then we have $63 billion within the next two years coming in.
It’s a lot of money, it surely is. It says that the Prime Minister points out that work is continuing on the strategic development road project, and the port of FA is an economic city that is the newest and largest in the Middle East. He goes on and says that there’s great opportunities in the new residential cities, and investment licenses have been issued for $1 million, $1 million new housing units.
So all of you that are involved in the real estate industry are going to probably understand the totality of that. I know I do. There’s a great need for factories in the construction material sector.
So all those components that need to build a million units, they need to get on a move, and they’re going to do that with the private sector. So it says there’s a great need for factories in the construction material sector, and 30% of imports went to construction and building materials due to this urban movement. And so look, also Donnie has been on a mission to make sure the investors are assured of that the government plan is underway.
I think that we can see that. He has no other focus but to move forward. I believe that.
The second largest financial center in the world has now the green light to come in. So it’s interesting that Fahuud is saying was here in the United States and New York City, which is what the largest financial center. They got the top seat at the G77 for the chairmanship.
You guys got to realize that one guy is in New York City, while the other one is Sudan. He is in talking to the king of Great Britain. So things like that are just, you know, you can’t deny how powerful that is.
So Al-Sudani meets the British counterpart at the London government headquarters. Prime Minister’s office states that Al-Sudani met with the British Prime Minister, Keir Starmer at the British government headquarters in London. So it says the Prime Minister, Keir Shail, Sudani met with the king of the United Kingdom.
Charles III at Buckingham Palace in the British capital in London. It says, according to the statement that is put out, it says the 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. Cooperation, the field of confronting the challenges of climate change and opportunities to enhance cultural cooperation.
It says Al-Sudani expresses and his appreciation for the official invitation, of course, to be received from his visits to Britain, stressing that 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 people. It says, for his part, King Charles III welcomed Al-Sudani. He states, quote, the depth of historical relationship between Iraq and Britain and the prominent importance of the governments of the two countries attached to developing common interests in understandings at various levels.
So I would say that we’re witnessing Iraq is working publicly with one of the largest financial systems in the world, the United States, and has a very long relationship with the UK, the second largest financial system in the world. The Kingdom of the United Kingdom on board, which it sounds like they are. It says the data is showing us that Iraq is truly meaning business, they’re meaning business.
Of course, that’s what it means, development road project, the Port of Fau. Yes, business is going to be a very big deal. Iraq will need the support of the financial community.
Obviously, it sure looks like they have that. And why? Because Al-Sudani has it here to a plan that the international community knows where we’re going. I think everybody out there probably now can finally see it or should be able to see it.
So here again, here’s the BBC news outlet and the United Kingdom Ministers and Westminster. It says Iraq’s Britain Business Council, the IBBC. The Iraqi Britain Business Council, the IBBC, hosted two senior ministers.
FCDO Minister Hamish Falkner at the prestigious One Great George Street in West Minister. It goes on to say who’s all there and there’s some big names. You can come into patreon.com and see that, but you’ll get the picture.
It says the visit was highlighted by the signing of agreements totaling $15 billion between the United Kingdom and Iraq. Although unforeseen circumstances prevented the Prime Minister from attending the event, he took the opportunity to meet individually with several IBBC member companies. A key outcome of his collaboration was the UK’s government’s revision of the travel advice for Iraq.
The FCDO announced a downgrade in risk levels. In other words, it’s gotten better for most parts of the country and a move along advocated by the IBBC. This change is expected to ease business travel and significantly reduce insurance costs for companies operating in Iraq.
You guys remember what we talked about? What is it, the core credit or no credit cover? Sorry, forgive me. But what is that about? We talked about it. It’s about insurance.
So they’re going to significantly reduce insurance costs. And that’s going to be a big issue for those guys, because a lot of money is going to be coming into this country. And it’s going to come back to the country from all over the world, even because a lot of those folks that are around the world owned in Iraq.
The event welcomed over 200 IBBC members and distinguished guests, including representatives from companies such as GE, Vernova, Vodafone, and the BAE Systems. The Baroness Nicholson also expressed gratitude to GE, Vernova, for supporting the event. So there’s some big names.
And if you guys have seen, if you do your Google search on who Vernova is and what GE is now, you’re going to find out that’s like, whoo, this is going to get in good. I’ve had some comments, people that invested in Vernova in their stock, and they were pretty pleased to find out where they are today. You get to look at a stock chart to check that out.
I don’t know for sure how that worked out. But it says the following significant announcement of 15 billion trade deal with Iraq this week. Everyone must think differently about the opportunities in Iraq.
I think that’s a reinforcement, everyone. It says it’s time to think differently about Iraq with the British perspective and look to the future opportunities. This new trade deal significantly multiplies the scale of trade between the two countries and is based on the strong technical expertise of the UK that the UK offers.
This gentleman by the name of Mr. Christof, Michael’s IBBC managing director shared his reflections. He says it’s a great honor to host such a significant ministerial delegation in London. This reflects the strong engagement and contributions of the IBBC members.
With 15 years of experience in business in Iraq, we’ve together built a long-term sustainable membership that will grow the economy and enhance human capabilities in Iraq. At a time when Iraq’s economy is seeing an educational training, no, seeing, forgive me, long-term growth and diversification, our recent focus on skills and development in educational trading is a key to expanding the private sector, empowering the youth and to drive the country forward. So a gentleman by the name of Mr. John Wilkes, senior IBBC advisor, also welcomed the ministers and members and companies, et cetera, to even to the network and explore business opportunities.
He goes on and says the IBBC, which is the largest group in Iraq, represents leading British international businesses. The council recently published a report is Iraq’s business ready, offering recommendations for enhancing the investment and growth for the more of the IBBC has established a maritime academy group to support the Ministry of Transport in developing the internationally, recognized maritime regulations and capabilities with a focus on expanding Iraqi ports, particularly alpha. So with Iraq is now, to me, she’s headed in the right direction with that $15 billion that is slated to come in from the UK, it sounds like the stage is set.
The trade development, maritime connections, that’s going to be a big trade, you guys, because a lot of those big ships coming into the port are definitely maritime oriented. Okay, this article is about the central bank. It says closing the electronic platform will not affect the movement of remittances at all.
So they changed that system, those dollar auctions, and they’ve changed it to a different name. The new mechanism, reinforcement mechanism is what it’s called. It says the central bank also indicated that strengthening the balances of Iraqi banks that have corresponded banks that we’ve been talking about abroad will continue as is, explaining that this does not mean stopped currency selling operations, but rather a change in the mechanisms, like I mentioned, within a method followed all over the world.
So they’re going to be doing what everybody else around the world does. Iraq doesn’t do that in the past, hasn’t done it in the past. Now they are.
It says this new mechanism is dedicated to meeting the needs of imports, foreign trade of goods, commodities and services, which contributes to supporting the financial and economic stability of Iraq. So what, again, they’re set in the stage for international, right before internationalize. What they do not say yet in this is that to be on the forex directly, but they are surely implying that the change in the mechanisms within the methods followed all over the world is very telling.
So we’re going to have to see, because if they’re going to go international, they’re going to need to have a viable currency that fits the country’s needs. And I believe we’re going to obviously see something to that effect. So here’s an article that’s going to be pretty powerful too.
It says the central bank of Iraq closing the electronic platform that we just talked about enhances stability. It says two weeks after the central bank of Iraq, implement its decision to close the electronic platform for foreign transfers, opinions differed in economic circles regarding the impact of this measure on the financial situation, especially in light of the current economic and political conditions. This one is a long read, but down towards the bottom, you’re going to find that there’s some really key points.
I highly suggest you come into patreon.com and see what it is. You can find that. So there’s a gentleman by the, well, they talk about in this article that Salay, the financial advisor to the central bank, et cetera.
He discusses some things. He talks about the euro, the UAE Durham, the Chinese won, all of these things to facilitate transactions with major trading partners. And noting that this new mechanism aims to facilitate foreign trade and enhance control over money transfer operations, with while ensuring that goods and services reach the country properly without violations.
It goes on to say the hot hantush economic expert says that he believes the central bank seeks to avoid this responsibility by authorizing foreign banks that have accounts in correspondent banks with the approval of their branches and foreign owners. So he also points out a key point. He pointed out that the central bank wanted to reduce the gap in the dollar.
So he wants to reduce the gap in the dollar. So that’s changed the price. It should open the door to competition between banks and rely on basket of currencies, basket of currencies, to expand options available in the market, calling for amending the criteria for evaluating local banks and system, local banks, and raising their financial capabilities, which would contribute to achieving stability and increasing competitiveness, and thus stabilizing the dollar price.
He also suggested the possibility of transferring the dollar to trading platforms in the stock market. Okay, that’s powerful. To be sold to those entitled to it through direct transactions instead of sending dollar exclusively to banks, stressing that a need to organize these operations by switching to the Forex market and implementing mechanisms that ensure that funds are not transferred until the goods arrive with the banks in a guarantee.
Okay, so he explains that these measures would increase tax revenues and live at illegal trade, which would contribute to strengthening the national economy. For his part, economic expert, Nabil Jivar Altamimi, it says the transfer platform at the Central Bank of Iraq was a mechanism for conducting financial transactions and transfers for merchants and partners through the banks as the platform supervised these operations. He goes on and says the Central Bank has created the necessary conditions for conducting transfers by establishing direct relations between businesses, local banks, international banks, through major correspondent banks, which means the transfers can be conducted in accordance with international standards without the need for the electronic platform.
In other words, that platform that they got rid of, you’re going to have a lot of people whining on the street because guess what? When the dollar dries up, it’s going to get more expensive if you don’t get on the platform. And that’s obviously what they’re going to use. He’s stressing that there’s a need to organize these operations by switching to the Forex market.
Okay, Iraq hasn’t been on the Forex market at 1310 in international capacity. Are they ever going to do that? I don’t think so. And when they start mentioning first time in a long time, in the context of coming from the Central Bank of Iraq, I have to say that this is information that’s coming out telling you exactly what they’ve done.
In the last few videos, you guys, if you’ve been paying attention, you’re going to see a theme, and that theme’s going international. And when they mention Forex, I have not seen them talk about this ever before in this manner. I don’t know about you.
If you have something, send it to me. But I don’t remember ever seeing it. I passed it around with Alisha Mannikru.
I don’t think anybody else has really seen it either. So not to the extent what they just said. I would say take that whole thing very serious because it’s powerful.
And if they go on the Forex, what’s that going to mean? I’ll give you an idea of what it could mean. It says, this article here by Super Samson, another one I just found it today, but got it yesterday. Forgive me, but I’ll tell you.
It’s good. I go back in time. Sometimes I find stuff.
I was like, wow, look at the interactivity that we’re seeing as far as the news that we bring. That’s what we bring here at the news. I read you guys the news as you well know and give you my opinions on it.
And hopefully we can understand where they’re coming from. And I think we have a pretty strong pulse on it. And I think we’ve proven that.
It says that Kuwaiti Denar currently is the strongest currency in the world with traders getting .31 Kuwaiti Denars for every US dollar. If you do the math, it turns out to be about $3.22 or something a little bit above that. It’s worth noting that Kuwait has about 7% of the world’s oil reserves, which greatly supports the value of the currency.
OK, so do a little bit of a comparison. They’re only talking about oil, and they’re talking about 7% of the world’s oil reserve. But if you go on and do you a little bit of research and you go to this article, you guys, you’ll get all 10 of the who are the strongest in the world.
But I want to just get done and kind of quickly do a quick video. But it says according to 2023 data, Iraq has significantly more oil reserves than Kuwait. With Iraq holding approximately 145 billion barrels of oil compared to Kuwait’s 101.5 billion barrels.
Meaning Iraq has roughly 43% more oil reserves than Kuwait. Iraq’s oil reserves, again, 145 billion barrels. Kuwait’s oil reserves 101.5 billion barrels.
OK, so what difference is Iraq going to have that Kuwait has a port, but the bottom line is out the port of 5 is going to be one of the largest in the Middle East. And Iraq has 43% more oil than Kuwait. Their currency is the strongest in the world.
It says let’s keep in mind that Iraq has far more oil income. She’s already showing that she has massive abilities to increase her non-oil revenues. So we’ve been over that over and over.
What are those things? We know that they have tourism. We know that they have taxes and tariffs at the borders and the new ice cutter system. We know that they have the tourism.
If I didn’t say that twice, but so when they talk about the good old days or the glory days and going back to a previous era, think about that. What was the previous era? Remember the Arab League that we talked about? Remember that they were a founding entity in the Arab League, the 22 countries in the world. If you come into this article and you look at the region’s currencies, there’s some of the strongest in the world.
1310 is by no means a strong currency. So when they talked about the glory days, when Al-Sudani talked about having a stronger denard than the dollar and telling his people to be careful, he didn’t quite get it done in 2024, but he didn’t ever really specifically state that. Some people like to believe, but as far as I know it’s not.
I haven’t seen anybody show me an article that specifically shows that it, but so anyway, it doesn’t make much difference. But the bottom line is Iraq has the ability to be at least 43% more valuable based off oil or let alone their non-oil revenues. Liquid natural gas out into the pie.
And so I just want to say, it’s pretty exciting times that what we’re seeing so thank you for being with us. It’s been a great to share this information with us. I think everybody should be totally excited.
I think I’m among tens of needles because what we’re seeing is real-time data. It’s no joke and Iraq is effectively going international. And to have that amount of money to be invested is just phenomenal.
So thank you very much. Hey, by the way, like, subscribe if you like my content, of course. Will there be more? Of course there will.
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