More "News and Views" From KTFA Members Monday PM 12-19-2022
KTFA:
Frank26: "INTERNATIONAL PLATFORM FROM THE CBI TO REMOVE THE BLUES OF THE CITIZENS".......F26
Final article 2287:
New App allows Iraqis to trade US-Listed Stocks
18th December 2022 By John Lee.
Ishtar Gate Company for E-Payment Systems and Services, an Iraq-based fintech company, has reportedly released an app that allows users to trade US-listed stocks via a mobile app called Bluepay.
According to Newsfile, the company was recently approved by the Central Bank in Iraq (CBI) as the "first and only company to offer international money transfer service."
It says the service also facilitates financial transactions to and from China.
Blue CEO Ali Al-Saeed, said:
"This is an unprecedented technology solution built and provided locally in Iraq. It has triggered other fintech-provided services such as a multi-currency solution that opens up a new horizon of opportunities in the Iraqi market."
(Source: Newsfile) LINK ISHTAR GATE FOR E- PAYMENT SYSTEMS AND SERVICES
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Margarita: Final Article 2287 is about Bluepay. Well I went on the old google machine and found an email to the Bluepay site. I wrote one and asked how long they have been doing business in Iraq. I got a response that they have been working in Iraq since October of 2021. So...they have been doing this thing for over a year now.
Toyvp: THEY HAVE BEEN SETTING UP AND GETTING READY AND WORKING INTENALLY FOR QUITE A WHILE AS THEY JUST TOLD YOU, AND NOW HAVE BEEN GIVEN THE GREEN LIGHT TO TAKE IT INTERNATIONAL.........IT TAKES TIME TO DO THAT MUCH WORK AND YOU SURE AREN'T GOING TO TELEGRAPH SOMETHING LIKE THAT FOR A YEAR OR 2............................I AM GLAD THEY ARE "INTERNATIONAL" NOW
P.S.
THEY WILL BE ABLE TO WORK IN 10 DIFFERENT CURRENCIES INCLUDING USD AND......................MY FAVAORITE.............................IQD...........YOU DO UNDERSTAND THAT BLUEPAY CAN TAKE IT OUTSIDE IRAQ BORDERS?................................HINT.....HINT.....IT MEANS TAKE IT INTERNATIONAL
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Clare: Launching the first electronic platform for financial trading via the Internet
12/19/2022
Today, Monday, the Iraq Stock Exchange announced the launch of the Internet trading system for the shares of Iraqi joint-stock companies - for investors.
The market said in a statement, that "based on the regulation" trading in securities via the Internet - for investors "and based on the approvals issued by the Securities Commission and the Board of Governors in the Iraq Stock Exchange and on the occasion of the completion of the implementation plan for the project of the trading system for the shares of Iraqi joint-stock companies listed via the Internet – For investors by the Carmel Brokerage Company with the Iraq Stock Exchange and the success of the testing plan that the company carried out on electronic systems and cyber examination by an entity independent of the market and the company.
He added, "The online trading system for the shares of Iraqi joint-stock companies will be launched - for Go Life investors, starting from the session on Sunday 1/29/2023," stressing that "this step is one of the required development requirements in enabling shareholders and investors to buy and sell themselves using their stations."
Or their smartphones through a trading application that meets the instructions and rules of electronic trading and central depository. LINK
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Launching the first online financial trading system in Iraq
12/19/2022
The Iraqi Stock Exchange announced, today, Monday, the launch of the trading system for the shares of Iraqi joint-stock companies via the Internet - for investors.
And the market stated in a statement that Mawazine News received a copy of it, that "based on the regulatory regulation" trading in securities via the Internet - for investors "and based on the approvals issued by the Securities Commission and the Board of Governors in the Iraqi Stock Exchange and on the occasion of the completion of the implementation plan of the trading system project With the shares of Iraqi joint-stock companies listed on the Internet - for investors by the Carmel Brokerage Company with the Iraqi Stock Exchange and the success of the testing plan that the company carried out on electronic systems and cyber examination by an entity independent of the market and the company.
He added, "The online trading system for the shares of Iraqi joint-stock companies will be launched - for Go Life investors, starting from the session on Sunday 1/29/2023," stressing that "this step is one of the required development requirements in enabling shareholders and investors to buy and sell themselves using their stations." Or their smartphones through a trading application that meets the instructions and rules of electronic trading and central depository LINK
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Clare: The Iraqi Stock Exchange will stop for one day
2022-12-19
The market said in a statement, received by Shafaq News agency, that, "Based on the cabinet's decision to declare an official holiday for one day, starting from Sunday, December 25, on the occasion of the birth of Christ (PBUH), the market will not organize the stock trading session."
He added, "The activity will be practiced after the official holiday, starting from Monday, December 26, according to its official timings."
It is noteworthy that it organizes five trading sessions per week, from Sunday to Thursday, and includes 103 Iraqi joint-stock companies representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism, hotels and services. LINK
Clare: The Central Bank launches a package of measures to improve the performance of dollar-related transactions
12/19/2022
Today, Monday, the Central Bank of Iraq launched a package of measures to improve the performance of transactions related to the dollar.
The media office of the Central Bank said, in a statement received by the Iraqi News Agency (INA), that "this package of decisions would restore the foreign currency market to its normal state."
He added, "The package included:
1- Allowing the banks participating in the foreign currency buying and selling window to purchase any amounts in foreign currency and deposit them with this bank in accounts used for external transfer purposes, and pay interest / returns on those balances according to what this bank decides
2- Trade financing facilitation The private sector through Iraqi banks and meeting the demand for foreign transfers by strengthening bank balances with their correspondents in other currencies in addition to the US dollar (Chinese yuan, euro, UAE dirham, Jordanian dinar and others).
3- Opening outlets for selling foreign currency in government banks to the public for travel purposes (treatment, Hajj Umrah, study, etc.)
4- Reducing the selling price of the dollar to the beneficiary (the card holder) that he uses while traveling or paying his purchases via the Internet, to be at a price of (1465) dinars to the dollar instead of (1470) dinars to the dollar, as the dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar. LINK