MM&C Iraq Dinar News-CBI Streamlined International Transfers-ASYCUDA System-Reinforcement Mechanism
hey everyone before I get started I just want to remind you that if you like my content hit that like button subscribe to my channel and then join the militia man and crew patreon Community by clicking the link in the caption good evening everybody militia man and crew here tonight it’s Friday it’s going into a weekend uh it should be an exciting one at least it’s a very hopeful one um Iraq has come through a lot of things and we’re still seeing some um progression of specific things and tonight we’re going to go over some
of that and we’re going to touch on the fact that um there’s the difference between the dollar auctions and the reinforcement mechanism that they use today um I think that uh militia men and crew have been quite clear that there’s going to be a change that you know the dollar auctions are going to stop and there’s something different so international trade is the expectation um it was this the uh Central Bank of Iraq that back in sometime around 2003 or subsequently years later they were the ones that uh basically moved to
these dollar auctions and that was to help facilitate the trade and whoever decided to do that um did and the reason being is uh the outcome that reason being was uh to facilitate trade to bring back Iraq to where she is today which was low inflation and um security and stability so but aside from that remains is that a militia men the crew has been spot on about the fact that the dollar auctions are going to go away and they have and we have proof of that uh but they have a reinforcement mechanism that took its
place electronically and that is uh has happened I believe the Deputy Governor came out and said that on the 31st that he did started that process that would take a few days up to four days or so which was the end of business yesterday on Thursday to uh fully connect that and that’s uh implemented so they’re ready to go so uh you’re also going to see tonight some some things about the ice cuta system it’s electronic platform it has relationships to International entities like the world Customs organization the international standards
organization um even the World Trade Organization so but keep in mind uh don’t forget the UN too all of those entities are involved in are total supportive of Iraq having a digital transformation and that’s what we’re going to see but here’s an article that comes out and says Iraq Central Bank streamlines International transfer the Central Bank of Iraq has announced the successful transition of external transfers from an electronic platform to a direct operations by Iraqi Banks through the international correspondent
Banks that’s what I was talking about years ago because I knew that they were going to make a change and they were going to uh take the Central Bank out of the equation when it comes to for instance like retail uh trading of the United States dollar and they’ve they’ve subsequently started that in 2003 and now they’re done and now here we are banks are closed Al Sudani said he was going to do something he said he was going to um make the dollar uh weaker or vice versa dinar stronger than the dollar I think it’s going to still hold
true I think that’s the expectations from everybody in the world and so we’re going to see see that happen the central bank has announced a successful transition of external transfers from an electronic platform to a direct operations by Iraq Banks through internation correspondent Banks again that what that’s going to do what we’ve always said is that Iraq’s Central Bank is going to go back to her normal position like all other central banks and that’s to uh allow correspondent Banks and Banks do the transfers for um
International foreign currency trade uh it says one of the things it says here Iraqi Banks can now enhance balance balances with correspondent Banks using various currencies which are foreign currencies right including the United States dollar including the United States dollar like we’ve always said the in a INR the CNY the European Union uh Euro AED s and jod those are call signs everybody so if you actually go to USD you’ll find the US dollar um the INR uh is Indian rupee um the Canadian currency the Euro um etc etc
okay Jordanian dinar okay Global integration that’s key key word Global integration what are they going to do they’re going to bring the dinar into a global integration it says the system uh improves efficiency and aligns Iraq’s Financial operations with International standards boosting Regional and Global Financial relationships and what’s it for investment and Trust the globe wants trust for investment it says the achievement strengthens Iraq’s appeal for investment in enhances International Financial confidence basically what is
it doing it’s further solidifying Iraq’s Financial system Iraq has done what they’ve said is what they were going to do and they’re doing it they were going to do this all along the Central Bank implemented a new electronic system so the central bank would be out of the dollar auction which they’ve clearly done as they have done in the past too uh they now use the correspondent Banks and will be able to facilitate internal and external external trade they did just as like they said the correspondent banks will
be a facilitator for those that need currency needs met including the US dollar as they’ve stated they’ll they all will be and all the currencies will need to be in in compliance with International standards and those that are able to be the ones clearing foreign currency needs so if you’re not hooked up you’re not going to be able to do that say we’re uh at here at mmmc um have not deviated from that the central bank will no longer deal with re retail effectively be careful out there as there’s at least one um entity out there
that seems to think that U we’ve had it wrong but that’s okay we’re all we’re only as good as the information that we provide in our opinions so sometimes we get it wrong sometimes we get it spot on and this time around um I believe I’m 100% spot spot on and saying that man and crew um has has nailed it um there’s a gentleman by the name he goes by 6 L I want to thank him kindly for his support because he W he was quickly to come to um to us to to bring in something that um Samson shows us as well but the cool part is is that we
have people that uh follow along and understand the study that we have with militia man and crew and he brings in that there was a difference in fact um this was a couple of days ago it looks like it was Thursday um it says foreign re reinforcement requests in correspondent Banks basically the new participating Banks to meet foreign reinforcement requests there were seven correspondent Banks this is that new system uh the other uh system that was the foreign currency sell window showed that um the old system that remittances
and credits being that old system are now gone and that is powerful if you notice that they talked about total cash withdrawals and it was only 21 million you can’t support a country’s imports and exports with only $21 21 million but anyway the foreign re reinforcement request they talk about a new foreign reinforcement mechanism this is what they they’re talking about and I I’ll I’ll show that again here after a bit but this came out a few days ago uh basically is it is use correspondent banking as a central component of the
global payment system global payment system especially for crossbo transactions to support international trade and financial inclusion that right there was spoton we’ve been talking about that for a long time not as direct as that but we have been knowing that um the dollar auctions were going to go away but yet there would still be dollar trade which is now called the reinforcement mechanism so pay attention it it’s really it’s in your best interest to have an understanding of what you own and all good investors
should know what they own here’s an article it says the Iranian source to Baghdad it says Al Sudani arrives in uh Tran next week which is Wednesday you’re can to ask well what’s that got to do with anything we’re going to get into it but one of the things that they’re going to be talking about which you’ll find is going to be interesting it’ll get if you have to stick with us tonight you’re going to see that there’s a relationship to this article but it says what are they there for bilateral relations
between the two countries will be discussed as well as the situation in the region especially the developments in Syria following the change of the Syrian regime so they’re talking about Syria and I asked to myself as like I wonder if this visit’s about international trade and you’re going to find out that it is and you’re going to hear about in the coming days that it’s going to be about oil and trade with who Iraq and Syria and when at the same time that we’re going through this transition of
integration with Iraq to the uh International world the next the next article it it starts off with finally Kurdistan region employees salaries will be delivered next week it says release of employees salaries for the month of November 2024 is going to be at the beginning of next week well if we all know that Iraq starts on Sunday we’ll see if the banks are open on that day we know that they called for a holiday national holiday on Monday so it it hasn’t been published if they were going to close those Banks or if
they’re going to open them on Sunday but that’s when they they could start being paid they I think that article came out early on that said they would pay them through Sunday through Wednesday okay that’s what they said they would do but basically the um this ministry SP speaks that um confirming that Financial amount sent from Baghdad to the regional government arrived this week so it sounds like they got the money however releasing it may have been delayed but we’re going to find that out the source says in an interview in
the news that after the arrival of the last batch of employees salaries the amounts allocated for salaries are now ready so they’re basically looking at having the the salaries ready and you ask yourself why haven’t they actually paid them well they probably need what they were expectant to have and that’s a real effective exchange rate I think it’s all related and I I think that that the fact that they’re going to start turning on oil pipelines um possibly within the cyan and then from Iraq through turkey at
this time um Al Sudani is going to go to Tran he’s going to be talking about turkey uh and so you have to ask well what what is that about the international trade and we all know that the world Customs organization was was in Teran dealing with Iraq with uh facilitating trade negotiations that’s what they do they’re kind of arbitrators right so anyway the the amount of money that’s been lost between the United States companies and the oil companies in Turkey uh sorry in Kurdistan uh that stopped going out through Turkey um have
cost them billions and so um that’s all supposed to happen sometime starting at the this next Sunday coming that’s uh not tomorrow but the next day so we’re going to have to see how they turn this out again I’m going to reiterate it we just give you guys the news that that comes out from the country to the best of our ability and uh give our opinions on it so but it looks good it looks credible and um we stand by our work the best that we can so here’s an article that calls it uh zero corruption in
customs after the implementation so after the implementation of the iuta system is that really happening absolutely uh this gentleman by the name of a body he confirms on that the implementation of the escuta system is a step towards organizing administrative work pointing out the administrative efficiency contributes directly to reducing corruption so that’s one of the probably one of the things that Al Sudani is going to have on the table with not only Syria and other Regional Partners but it’s going to have an
effect on Iran because you got to remember a lot of corruption was going on and this new electronic system is um about 99% pure of corruption and it’s probably a big deal that’s probably why you’re seeing things happen with relationship to certain countries United States included um with reflective trading partners in the Middle East it says um again it will automatically lead to reduction in corruption because basically this uh system basically as it operates in accordance with development and
developed International standards by the international organization standards the world Customs organization and the United Nations realize that the world’s Customs organization has a component that’s directly related to facilitating trade for the WTO and what are they what were they doing remember the WT uh the wco was working with helping facilitate negotiations with foreign trade with Iran this system is in play now and with the ab backing of the International Organization for standards the world
Customs organization and the United Nations there’s Global support for Iraq and international and regional trade let’s not forget that like I said the World Trade Organization Works alongside these entities so this started back in 2023 and we witnessed uh Iraq Iran with the wco to facilitate trade talks so they all have guidelines and WTO has guidelines the w Co has a component that works directly for facilitating those negotiations arbitration mediation if you will um but listen Iraq and Iran have are big trading partners and I
don’t think that’s going to go away so that’s part of the uh in the news and you’ll find that with us patreon.com mm andd CW in our Discord chat room you can find a militia man’s chat room once you get in you’ll be able to figure that out if you don’t we’ll be able to help you the government advisory monetary stabilization mechanism will maintain Financial stability in the country so a government advisor is come out and said that the monetary stabilization mechanism what is that going to be it’s the reinforcement
mechanism it’s the new one it’s not the old dollar auctions they’re still going to use the dollar and many different foreign currencies realize that when IAQ turns their currency on to go International Iraq’s going to be a foreign currency that will be traded on International markets so when they talk about foreign currencies think about Iraq being one of them so when they talk about a basket of currencies Iraq’s going to be one of them within that that’s the way I view it um this are this is a long read you
guys and this is some of my opinion but this is a reinforcement for me to show that what we’ve been talking about is absolutely spoton this article is a long one I’m going to read it and I’m going to read some of my things that um I believe um explain that and maybe give it a little um a little better understanding because Iraq Central Bank uses his this is from SLE he uses technical terms and if you don’t Google and understand or go to whatever site you use to be able to to get the information about what they mean um
you’re not going to really understand it but if you listen I’ll try to give give it to you in layman’s terms but anyway this article goes on to say that the monetary well looks like this was on Friday and uh that’s today the central bank has adopted so the central bank has adopted the monetary reinforcement mechanism to feed the National Banks request for foreign currency indicating that the monetary reinforcement mechanism will maintain Financial stability in the country we had that in the very
beginning those dates of the old system and the new system the new system is the reinforcement mechanism that is not the platform about the old US dollar auctions to do Imports they’re using the new electronic system and what’s it for to maintain Financial stability in the country of Iraq okay s says the function of the central bank will continue to move to in two directions the first is to meet the needs of National Banks for foreign currency with their correspondents which confirms that the new monetary reinforcement mechanism
will work to provide monetary stability on the part of the monetary Authority in the two issues of continuing the monetary stabiliz no sterilization key word sterilization policy that is concerned with controlling the levels of local liquidity by exchanging foreign currency for the dinar the new monetary reinforcement mechanism will maintain a fixed exchange rate of 1,320 dins for every dollar be very careful on that because that is now that is what was yesterday that was on the 30th okay they haven’t changed the
exchange rate yet so Cay he’s a smart man he would not tell you what the new exchange rate is okay he just can’t do that but under the pretext of what they’ve been doing they’ve kept inflation rates low Iraq has got low inflation they’ve got security they’ve got stability and the basis of the correspondent Banks is going to be able to help defend their currency in an international market once they change the value of their currency I think that my opinion on that is probably going to be spoton as
well but anyway it goes on it says which will enable the central bank to achieve stability in the external value of the Iraqi dinar external value see the Iraq dinar is not external now it isn’t because it hasn’t got onto the international market yet um it has in the past but it’s it’s not there right now but is it going to be the stage is set I think I think the answer to that is is yes but again we’re only as good as the information that we we receive and we analyze but what is it doing the um it
says the stability and the external value of the Iraqi dinar by controlling the growth in the M money supply with the operation objectives of monetary policy through what is called the monetary transmission mechanism to achieve intermediate or long-term goals in achieving stability in the general price level or reducing growth in inflation rates so it’s there to use those Banks to maintain stability and this comes in conjunction with the stability of the exchange rates that’s what their focus is stability of
the exchange rate keep inflation low and then also keep the stability of the exchange rate so when this change happens the these correspondent banks with all kinds of foreign currencies like we before mentioned um are going to be a part of that and it turns out Iraq’s dinar is going to be part of that foreign currency basket that’s what it sounds like and this comes in conjunction with the stability of the exchange rate and the growth of the money supply to achieve stability in the general price levels he goes the second
thing soay says the second trend is to provide foreign currency to correspond respondence of National Banks in order to facilitate the stability of the real supply of basic goods and services flowing into the domestic Market with high fluidity and to make compliance control of foreign currency transactions to two levels National through the anti-money laundering and terrorist funds office and external through the role of correspondent banks that undertakes the task of auditing compliance issues so they have they have it in
place place to be able to to Monitor and and talk about and make sure that everybody’s on the up and up doing trade and again hence you probably have Iran Syria and all these guys getting on board because the new system has officially been changed and it looks like it started on the 30th and it took a few days to get it set up and now it’s ready to go and so the iuta system came in which is what an international system with the backing of huge entities as I as I talked about so anyway what I believe this article is
talking about is that it’s talking about a very important story The fixation on the 1320 rate needs to be have perspective the exchange rate today is at 1320 like I said it is true statement when the article was released and or written but Cay cannot say anything other than that in my view until the new exchange rate is exposed by the Central Bank the system’s ready what it’s going to do is ready he talks about all that but he can’t tell you the exchange rate so he he just he he did what he said he
should do is to give you what is there today but it at 1320 1310 has low INF inflation and it also has um stability and now that we see that this new systems in place what did we talk about trust we talked about investment so again it’s a Lock’s job Central Bank Governor’s job solely His loone to change the exchange rate so it’s not Cay it says the central bank has a need to do many things and they include what we are waiting for and that is a big change to come they are in preparation for it now and have been for quite a while
already slay clearly spells it out in the article take notice of the wording that’s being used he is technical in his terms but firstly they’re going to be meeting the needs of the National Banks for foreign currency to correspondent banks in order for the new monetary reinforcement mechanism they have in place instead of the dollar auction that was suspended the reinforcement mechanism is its new replacement like it or not for those that seem to not get it yet it’s real just like there’s day and night
understanding what they mean is not going to fall on everyone’s eyes and ears just yet but they’re telling us in their explicit terms though that this is all that matters the new reinforcement mechanism will be providing monetary stability on the part of the monetary Authority in two issues of concern that is in continuing the monetary sterilization process and policy whereby they are to be controlling levels of local liquidity by exchanging foreign currency for dinar and they’re doing that to who to
the correspondent Banks and um private Banks if you will so they say today that exchange rate of 1320 uh 1,320 dins for every dollar that again is the true exchange rate for and part of the story however uh that will change to an international acceptable exchange rate when the Central Bank applies the new exchange rate to be on International Forex markets so it’s it’s it just appears to me that where I’m coming from is that it’s still going to change basically they’re preparing for that to happen now before our eyes with
the reinforcement mechanism that’s what they’re calling the dollar auctions you guys reinforcement the new reinforcement mechanism they have switched to and from the old dollar auctions it’s that simple the monetary sterilization is the process of populating the correspondent Banks and private banks with foreign currency it is key to defend the currency in future International Trade once they have the sterilization to the levels at which the central bank or the correspondent banks have digitally the next step is a public
use Sovereign entities private Banks commercial Banks and then public that’s how I see it and I my uh associate that I dealt with has uh explained that weeks ago matter of fact it’s probably it’ll be three weeks on uh this Sunday that talked about the um unified uh electronic system was hooked up between Baghdad and uh herbal uh then they’ve been ready they’ve been working towards this and it looks powerful so the the monetary sterilization again is of process of populating the correspondent banks with
foreign currency and it’s it’s a key for the uh defending of the Iraqi dinar in international trade so once they finish that calization to the levels at which the Central Bank correspondent banks have digitally the next step is to go public sorry for repeating it but it’s to do Global transactions against other currencies in dinar and other foreign currencies so again they will become similar to foreign currency in international terms and to be honest I just don’t believe it’s going to be at 1320s anymore for 1,320 to for the
dollar uh basically it will not work as a rear that is not a real effective exchange rate so from today the banks are closed and will not open in Iraq from the looks of it until next week again they have those to pay salaries next week next week starts on Sunday I’m not giving you a date I’m not giving you a rate I’m just saying that’s what they’re talking about and if that date holds true we shall see we’re going to have to we’re going to find out keep in mind Monday is a national holiday I’m not sure if you’ve seen the article but
it’s a national holiday I think it’s Army day and So based off what what they’re telling us in the data change is coming quickly and it looks to be timed accordingly look it definitely looks to be uh a Time mechanism in many in many ways and I think you’ll piece that puzzle together t tonight by seeing that um talking about opening the oil into the cyan Port opening the oil going into um Syria Etc doing trade with Iran having the new uh reinforcement mechanism anti-corruption a lot of people are going to be pained on this
they talked about shocks in the past but basically Al Sudani will have a have another achievement in what in that the dinar is going to be stronger than the dollar he stated that even today because it hasn’t hit the Forex Market time frame Al Sudani might still hold true to his to his his statement and we’re going to find that out if that’s the case again we don’t there’s there could be something we don’t know because they haven’t told us about it yet but we’re going to keep looking their goals are going to be to
defend the dinar with a new reinforcement mechanism in place that is now to trade internationally with other foreign currencies in IND digital environment with full transparency with about 99% corruption free and what is it going to have it’s going to have the stabilizing effect on pricing and while containing inflation rates so let’s see what they show us next in the coming days on that on that but that’s but that’s pretty big you guys it’s it’s pretty powerful and so here’s an article that comes from the um looks like the Central
Bank it says the Central Bank directs Banks to postpone the dispersement of retirement salaries despite the submission of the lists so they said they had it ready earlier on tonight but then they said that there’s that Central Bank came out out and stated that they had to postpone it for the dispersement retirement salaries despite the submission of the list so they got all the data that they need they said that they have it all ready to go but there’s a slight delay but does that mean they’re going to delay it any time that
we could do anything about it I don’t think so so we’re going to find that out because they’re going to need an exchange rate for the oil to move across the um other countries into foreign trade and to pay the citizens their due uh they’re going to have an exchange rate change and or they would have done it already and will it be at 1310 1320 no way they they just not going to work that way in my opinion so another interesting piece of the puzzle it says that this particular case what did they say it says that due to the approaching
end of the fiscal year this is their reasoning for year 2024 the need to rotate balances Financial Accounting operations will be suspended by withdrawing and uh debiting from the balances of their accounts opened with a Central Bank of Iraq including work on payment systems on Thursday that was yesterday so if it was if they expected to get some money at that point in time and it’s been delayed slightly they may be waiting for the banks to open on um Sunday uh through Wednesday and that’s what their words okay so another
interesting piece of the puzzle that we’re seeing is uh is this uh a place where the exchange rate is likely to happen uh to to get this all tied together I would I would think so we hope we hope so anyway this article here is a gentleman by the name of ala ADI it says closing the dollar selling platform will not affect its prices says the platform was a form of control imposed by the US Federal Reserve which it was and its cast cancellation in other words its suspension allows Iraq to return to the
banking system and was in effect in 2003 okay so they’re going to do something that’s going to bring them back to a previous era are they not remember how many articles that came out about going back to a previous era The Glory Days Etc they they’re out there you can find those in our preon room um goes on and says that uh so it goes basically because it was back to effect in 2003 where the merchant relied on the correspondent bank without the need for the system imposed by America so they’re going back
to a previous area Central Bank of Iraq has started a plan to deal with a basket of foreign currencies like I mentioned earlier to compensate for the dollar and to open up foreign Banks and the aim of reducing dependence on the US dollar stressing that closing the platform closing the platform so they did it did not significantly affect the rise in the dollar price as some media Outlets um promoted right so it’s nothing like fake news right on social media people come out and say things that aren’t accurate
on a regular basis um and unfortunately they they do that uh for I don’t know whatever an agenda but anyway it happens so look the system’s now in place Iraq is going to go International and she basically had a previous era if you guys remember that and it looks like that’s about to reemerge again so keep it all in mind as we go forward um moving on to the next thing it says here though again we talked about the ice cuta system it says zero corruption in customs after implementing the ice cuta system is the is it is it really
happening and yes it says what Friday that implementation of the escuta system is considered a step towards organizing administrative work noting that administrative efficiency contributes directly to reducing corruption and and Al Sudani is going to Teran right okay okay corruption is a result of poor administrative system and when this system is improved properly like it is now and efficiently this will automatically lead to reducing corruption and he goes on to say that um the iuta is an automated Customs
management system that covers most foreign trade procedures in addition to processing cargo Customs data including Goods Transit procedures and related conditions as it operates in accordance with Advanced International standards from the International Organization for standardization the world’s Customs organization and the United Nations it seems that these guys are ready to make a major transitional event the integration of Iraq going into um the international world is obviously before us all right so here’s another one that
says will removing the zeros and the collapse of the Syrian pound question well is a good question uh they talk about today they say that oil will start within days from the from um Iraq to Syria I mean why now talk about deletion of the zeros is it a coincidence I doubt it many questions are being asked after the Bashar al-assad the most prominent of which is will syrians have months in which an employees salary covers the cost of a food basket so look they’ve had some problems that their their currency has
been uh not unlike Iraq but worse uh but still uh depreciated and is that about to change if they drop three zeros is that a timing mechanism isn’t Iraq in the process of a project to delete the zeros off the exchange rate I believe they are so anyway back in back in the day syrians remember that 50 Syrian pounds allowed them to buy or to own $1 so it’s a big change from 13,000 to 15,000 PBS so keep that that in mind um and if they’re going to turn on the oil pipeline in the next few days um you
have to think that that’s going to be international trade is it not and look at the World Trade Organization and all these other organizations the Customs organizations the UN involved with what crossb payments okay it says Iraq to resume crude oil exports to Syria within days according to a new mechanism what’s the new mechanism the one I just got through talking about the new reinfor enforcement mechanism has to do with what multiple currencies foreign currencies and here we’re talking about Syria dropping three dropping zeros not
three zeros I didn’t say that but it’s Dro in zeros and they’re going to move trade across the borders with oil they haven’t done that for a long time many many years it’s powerful it’s powerful you guys the the previous export mechanisms were marred by many errors U the Iraqi government now to attends to adopt a new mechanism okay more organized and accurate mechanism to deliver oil to Damascus basically baghdad’s desire to re-evaluate oil agreements in line with new changes so obviously um since this
new change in government is happening with Syria it’s obviously a reflection of the times with Iraq trading partners their neighbors all the ones we’ve talked about and so here we go barzani discusses oil exports through uh US Energy official the prime minister of the Cur region discussed the resumption of oil exports in a phone call with the United States energy official the Kurdistan Regional government krg announced this on today Friday what did they do they stress the urgency of resolving outstanding issues
and removing barriers to oil exports highlighting the suspensions detrimental impact on Iraq’s budget and economic stability the stoppage has meant billions of dollars in Lost income the pressure is on there’s no there’s no incidences about the timing of this happening all now all of what I just said all these things seem to be focusing in on the central bank to make her move with a new exchange rate that’s internationally acceptable so you guys I think this is a powerful evening I hope you guys enjoyed my my content so please
um hit that like button subscribe and thank you again for all those donations that allowed me to help you guys stay focused on what’s real okay militia man and crew appreciate it and thanks again um have a great day once again guys don’t forget to hit that like button if you like this content subscribe to the channel or join us at the militi manic crew patreon Community for even more exclusive content you can also donate to this channel by hitting the links in the banner to help keep this page up and running your generous
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