MilitiaMan and KTFA Members "Timing is Perfect" 11-5-2020

KTFA:

DeepWoodz:  IMO.....So MilitiaMan was correct (I had no doubt). This will be the final reading and the vote this coming Saturday. If I don’t have my laws confused. And then salaries immediately released.

Samson:  Staff Salaries ... The Minister Of Finance Sets The End Of Next Week To Launch

4th November, 2020

Finance Minister Ali Allawi set an expected date for the payment of employees' salaries for the month of October, while the minister pledged not to repeat the delay in case the borrowing law was approved.

"We will be able to pay salaries by the end of next week if the borrowing law is approved," the Iraqi news channel quoted the minister as saying, in breaking news.

Earlier, an informed source said, Wednesday (November 4, 2020), that the House of Representatives will vote on a bill to finance the fiscal deficit, next Monday. The source stated that "the fiscal deficit law, or the so-called (borrowing law), will be passed next Monday within the House of Representatives."

He added, "The disbursement of salaries will take place on the same day that the vote on the law submitted by the Ministry of Finance is done." He pointed out that "these data come after the government and parliament agreed to proceed with the legislation of the law and solve the crisis of late salaries," without disclosing the conditions for passing the law, or the exact amount for borrowing.

The House of Representatives will hold its session next Saturday, after the inclusion of a discussion and reading paragraph of the Fiscal Deficit Financing Law on its agenda.

The Minister of Finance, Ali Allawi, confirmed, earlier, that when parliament votes on the borrowing law, employees' salaries will be paid directly, but if the law does not pass, the salaries will likely be distributed after two weeks. On Tuesday, Ahmed Mulla Talal, a spokesman for the Prime Minister, Mustafa Al-Kazemi, said that the latter had contacted the political blocs in order to complete the vote on the borrowing law, so that salaries would be paid.  LINK

Samson:  After being late for days ... the launch of the salaries of retired people in Iraq

5th November, 2020

Today, Thursday, the Ministry of Finance announced the release of retirement salaries for the month of November, after they were delayed for several days.

"The salaries of civilian and military retirees were released for the month of November and through official exchange channels (banks and electronic payment channels)," a ministry statement said.

The statement called on the retirees to "verify the amount received and the salary invoice before leaving the exchange outlet."   

MilitiaMan:  Interesting they want them to verify the invoice before leaving the exchange outlet. Something seems different about that statement. Why would they be asking them to check and verify the payments if it is same old same old, same old? It is like they are purposefully pointing to something different with this particular payment. imo ~ MM

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Samson:  The Central Bank and international organizations discuss mechanisms to enhance financial inclusion

5th November, 2020

The Central Bank of Iraq announced the organization of a workshop to prepare a strategy for financial inclusion in Iraq, in cooperation with the World Bank

The Central Bank said in a press release received by Al-Iqtisad News, “In cooperation with the Central Bank of Iraq, the World Bank organized a workshop to discuss steps for preparing a financial inclusion strategy in Iraq and the requirements for international support, as well as the role of partners from the public and private sectors in developing and implementing it, within the directions of the Central Bank.  Iraq in the transformation towards financial inclusion and the development of the financial and banking sector, and the initiative of the Arab Monetary Fund to strengthen this strategy in the Arab countries

He added that the workshop comes within the framework of the Arab Financial Inclusion Initiative organized by the Arab Monetary Fund in cooperation with the Global Alliance for Financial Inclusion and the German Organization for International Development, where the workshop discussed the importance of collecting data related to financial inclusion indicators from the supply and demand sides

According to the statement, the workshop was attended by a number of representatives of banks and payment companies, heads and members of the sub-committees emanating from the Supreme Committee for Financial Inclusion   Explaining that the Central Bank of Iraq has taken a number of measures in recent years to enhance financial inclusion, which contribute to facilitating the preparation of this strategy   LINK

Scollie:  Wonder if these mechanisms are poster boards and examples of the NSCN’s of even possibly Digital Wallets on their phones for Digital Money??

MilitiaMan:   To enhance financial inclusion is to get people into the banks. With what? Mechanisms are tools, as is a currency. Per a source in Iraq, that is in fact going on now and it has been.

The citizens are going in and opening accounts. The members involved are clearly international.

The AMF in cooperation with a Global Alliance (G7 ?) and the German Organization for International Development are all involved. 

Today they are telling us they are paying retirees salaries and for them to make sure they verify the amounts and get a receipt. imo All very interesting they are reminding them to do that.

They told us about the borrowing law was to be voted on today, then we were told they would delay to  Saturday, then the vote was said to be for Monday, now today they moved it up to Saturday again .. lol Banking hours are over now apparently and don't reopen until Sunday...

So keeping this all mind, the large entities noted above would know the mechanisms by now.. imo ~ MM

Samson:  Parliamentary Finance: Releasing the salaries of retirees after a delay of days confirms the absence of government transparency

16:55 - 11/05/2020

The Parliamentary Finance Committee returned, on Thursday, that the government announced the release of the salaries of retirees after a delay of several days, which reflects the extent of the government's confusion in financial policy and the lack of transparency in its dealings.

"The government announced that it was unable to release salaries without a loan last month, and it suddenly launched it without a loan, and today the same scenario is repeated, and after a delay of several days, the salaries of retirees are released," Abdul-Mahdi Saadawi, a member of the Finance Committee, said.

He added, "These steps play with the citizen's strength, and reflects the extent of the confusion in the government's financial policy and the lack of transparency in its dealings, which calls for Parliament to stop the real reasons behind delaying the release of salaries if the funds are available."

The Ministry of Finance announced, today, Thursday, the launch of the salaries of retirees for the month of October.

Earlier, a spokesman for Prime Minister Ahmed Mulla Talal confirmed that the salaries of employees would be released after the approval of the loan by the House of Representatives.  LINK

MilitiaMan:  They have muddied the waters. This one states they launched the salaries for the month of October. It looks like however, the monies may not clear or get released until they get approval of the loan by the HOR. Well that is not yet voted on. That is rescheduled for Saturday. imo This really looks good... imo ~ MM

Humble1:  Hey MM, this is talking about the retirees pensions, not the salaries of the employees, the retirees always get paid at the beginning of the month, while they pay the employees at the middle to end of the month, retires have already been paid for the month of October, per articles last month, but the employees have not, this article talks about the pay of the retirees, as per article last week where K told the FM to get these people paid this week, IMO, all in articles in last few months of articles

MilitiaMan:  It is talking about both retirees and employees. imo I does suggest both.. The also suggest they will have to vote on it too.. That has been changed back and forth to now be Saturday. The text messages are to be the trigger so it seems.. imo ~ MM

The Ministry of Finance announced, today, Thursday, the launch of the salaries of retirees for the month of October.Earlier, a spokesman for Prime Minister Ahmed Mulla Talal confirmed that the salaries of employees would be released after the approval of the loan by the House of Representatives.

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Samson:  Rasheed Bank announces raising the salaries of retirees

11/05/2020 17:37:07

Today, Thursday, November 5, 2020, the media office of Al-Rasheed Bank announced that it will start raising the salaries of retirees.

And he called on all civilian and military retirees to review its branches in Baghdad and the governorates and electronic payment offices when text messages arrive to receive their financial dues.   LINK

MilitiaMan:  They are going to notify them by text message for payments electronically.. This is so very good. The timing is perfect.. imo.. Wow!~ MM

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Samson:  The Central Bank announces the establishment of the Islamic Sukuk and Advisory Funds session for the period 11/17/2020/2020   LINK

MilitiaMan:  This is not new and we have talked about it in the past, but, it surely is welcomed now to see this. This will be an on going process. Sukuk being taught, is very supportive of a large change is to come.. Hence, now the accounts are being opened in large with the citizens.. imo ~ MM