KTFA – More News, Rumors and Opinions Wednesday Afternoon 1-31-2024


Clare:  Central Bank Governor: We prevented banks and companies from obtaining the dollar… and work on the electronic platform will end during the current year


 The Governor of the Central Bank, Ali Al-Alaq, confirmed: “The bank prevented a number of banks and companies from obtaining the dollar for not adhering to the requirements,” indicating: “The electronic platform will end its operation during the current year.”

Al-Alaq said in an interview with the official agency: “The banks against which decisions are issued are only prevented from obtaining the dollar and can carry out their normal activities,” noting that: “Banks can correct their conditions and obligations required to enter into their foreign transactions.”

He added: “The Central Bank has reached the final stages of regulating external transfers to banks, and the bank has continuous reviews, and banks that apply the standards are allowed to obtain the dollar.”

Al-Alaq continued: “The US Treasury praised the Central Bank’s provisions for banks, which included conditions and standards for external transfers and the opening of accounts with internationally accredited foreign banks,” denying the issuance of decisions by the US Treasury to punish a number of Iraqi banks with the exception of Al-Huda Bank and the Chairman of its Board of Directors.   LINK

Clare:  Al-Sudani sponsors the signing of the contract for the “Ali Al-Wardi” city project


Today, Wednesday, the contract for the new Ali al-Wardi residential city project was signed by the Minister of Housing, Construction and Municipalities, with the director of ORA Real Estate Development Company, Naguib Sawiris.

The Prime Minister indicated, during the signing ceremony, that the strategy for solving the housing crisis followed by the government includes creating cities serviced by infrastructure, with thousands of different housing units available, to suit various categories of citizens, and it also works to reduce population pressure on the city of Baghdad. “, stressing that “this project is being implemented for the first time in the history of Iraq of this size and capacity, and that it comes in compliance with what was stated in the government program regarding finding radical and sustainable solutions to the housing crisis.” 

He also expressed his appreciation for the performance of the specialized team in the Ministry of Housing and Reconstruction, the Baghdad Municipality, and the rest of the concerned departments, which confirms that the investment environment in Iraq has become effectively prepared and attractive.

For his part, Sawiris stated that this partnership with Iraq to implement the Ali al-Wardi residential city will be a turning point in cooperation and sharing in the pioneering and innovative vision for implementing residential cities, which takes into account the balance between environmental and population needs.

The new city project, which bears the name of the late Iraqi sociologist and thinker Dr. Ali Al-Wardi, extends over an area of 61 million square meters to the southeastern side of the capital, Baghdad, and will provide 120,000 diverse housing units, in addition to urban facilities, green spaces, and smart city technological means. In order to apply advanced standards in sustainability and environmental preservation.

Sawiris and Ora are among the most well-known companies in the field of real estate development at the regional and international levels, and contracting with them comes within the government’s directives to establish successful partnerships with advanced companies and businessmen known for their quality implementation and expertise.   LINK


Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26    [Georgia Bank Story]  BANK VISITOR:  Today I went to a bank called Truist in Georgia…I asked [the financial advisor] you mind if I get a minute…I’d like to ask you a few questions?  She said Yeah…I said I’ve been banking with this bank a long time…Have you heard of the Iraqi dinar?  She got quiet…She said, well I know there are things happening in Iraq…yes…I can’t really tell you anything but if you want to ask me some question I’ll be more than happy to answer… FRANK:  Bingo!  BANK VISITOR: …Are you guys going to be exchanging the Iraq dinar She said, well we will not be exchanging the Iraqi dinar but we will take it and send it off for you to have it exchanged.  [Post 1 of 2….stay tuned]

Frank26  [Georgia Bank Story cont.]   I said, I don’t know I want that to happen without knowing who that might be and she said, I can’t tell you but I can answer your questions.  I said, well is Chase Bank part of thatShe said, yes.  I said, What about Bank of America…?  She said yes… FRANK:  The answers she’s given you IMO are spot on.  FRANK:  Did you ask her if they’re going to have a fee to exchange?  BANK VISITOR:  Yeah…I said, if I was to exchange here what is the fee you would charge me…?  She said…from my understanding there will not be a fee for people especially of a certain caliber.  FRANK:  Bingo!  BANK VISITOR:  She said, but we can discuss that more at an appropriate time…probably not too far in the future… [Post 2 of 2]


Greg Mannarino:  1-31-2024


BREAKING: UAE-CHINA Transaction Settled With Digital Dirham, UAE New CBDC In a Push To Ditch USD

Lena Petrova:  1-31-2024