KTFA:

Samson:  With the stroke of a pen ... the disappearance of 15 tons of gold in the Central Bank of Iraq

28th December, 2019

The former deputy, Jawad Al-Shuhaili, revealed the disappearance of 15 tons of gold in the Central Bank of Iraq.

Al-Shuhaili said in a press statement followed by "Al-Akhbariya", that "15 tons of gold have disappeared in the Central Bank of Iraq."

He explained, "I filed a lawsuit with the public prosecutor, and the Central Bank replied to me not to buy gold, but he acknowledged the existence of gold."

He added that "the time of buying gold took place during the presidency of Sinan al-Shabibi, and the loss came directly after it," noting that "the central bank closed the case without adequate investigation."  LINK

Samson:  Abdul Mahdi's office announces completion of all provisions of the Federal Budget Law of 2020

17:05 - 28/12/2019

On Saturday, the spokesperson for the office of the resigned Prime Minister, Saad Al-Hadithi, announced that all the provisions of the federal budget bill for 2020 have been completed since the beginning of last month.

Al-Hadithi said in a statement to "Information", that "the cabinet has completed all the provisions of the draft federal budget law for 2020," noting that "the budget law of the cabinet has completed its study and discussion within the beginning of last month."

He added that "the Council of Ministers is unable to send the federal budget for 2020 to the House of Representatives due to a legal impediment," noting that "the government is turning to the disposal of work to prevent it from sending the budget to the House of Representatives, since the government is in accordance with the law and the constitution not entitled to send laws under these circumstances."

And revealed the Parliamentary Finance Committee, earlier, the formation of the Council of Ministers a committee to study the draft federal budget law for 2020, while it indicated that the Council granted the committee the power to send the budget to the House of Representatives.   LINK

***************

Samson:  The arrival of the US Secretary of State to the Al-Asad base in Anbar

28th December, 2019
It was reported, on Saturday, that US Secretary of State Mike Pompeo arrived at Ain al-Assad base in Anbar Province.

And Mawazine News learned, "US Secretary of State Mike Pompeo arrived today, at Ain al-Asad base in Anbar province."  LINK

*****************

Don961:   How has the digital economy changed the financial market?

- 20 Hours Ago

The tendency to digitalize all financial services has become evident and is no longer a secret to anyone. Credit institutions are working diligently to reduce the number of employees and consulting offices without fear of talking about their reputation, and employing more technical specialists and technology technology experts.

The writer Mikhail Ismailov said in an article published by "News Re", that small banks, which sometimes resemble newly emerging companies in the field of business, are able to compete with financial institutions that occupy the first ranks thanks to the development of modern digital capabilities for some services.

The peer-to-peer lending service is one of the brightest emerging trends in the digital economy, which is lending money to individuals or companies through online services that connect lenders with borrowers, and Russia started using this service a few years ago.

E-Loans
The author adds that with the use of the digital economy, all transactions are taking place online, allowing investors and borrowers the opportunity to track the movement of their own money and monitor profitability independently.

Borrowers are classified according to special indicators such as their activities and the state of insolvency, and this classification will change in the event of violation of the terms or term of payment. In general, these specialized lending services, such as banks, cooperate with debt collection companies.

According to the Russian Central Bank, at present the size of the lending market in Russia is more than 15 billion rubles. According to experts, thanks to the adoption of the country's crowdfunding law and the launch of new platforms, this lending rate could double by the end of 2020

The writer explained that this modern trend, which is intended for the digital economy, involves some problems that have not been solved until now.

In the beginning, Russia lacks a sufficient number of qualified specialists who provide services in the market of modern technology in the field of finance, in addition to the absence of clear programs in educational institutions that will train these employees, which greatly prevents the development of digitization of the sector.

In addition, there is currently no clear legislative framework regulating high-tech products in the country, and although the crowdfunding law will come into effect soon, there are still many shortcomings, including those of a technical nature, especially as the Russians are still reluctant to use This technique.

Digital Technologies
The writer quoted Executive Director of the Gatland crowdfunding platform Roman Khurushev as saying that there are a lot of digital technologies being created today. Not only does modern companies lend and urge residents to save, it also includes digital banks.

This significant demand for digital transactions is due to the desire of customers to obtain approval for loans within a few hours, as well as conducting banking operations via the Internet.

The financial industry is steadily moving towards automation of operations, so in the near future credit institutions will compete for customers, not at the level of offices and tourist destination management devices, but at the level of technological capabilities for applications

Consequently, the future shares of banks in the financial market are expected to decrease significantly.

For example, the capital of the German bank, which was founded in 1870, fell to $ 16.6 billion today, after it was about $ 71 billion five years ago.

Source: websites    LINK