More News, Rumors and Opinions Friday PM 12-10-2021
TNT
Friday update for December 10, 2021
Thursday bank source sees the following rates on the screen....
Dinar $4.47
Dong $2.37
Rupiah $1.38
Zim 70¢
Friday bank source sees Dinar at $4.98.....says they have been "waiting" for it to go LIVE since Wednesday.
It is believed that the screen rates are very much "subject to change" once they go LIVE!
Courtesy of Dinar Guru
Pimpy The announcement of the new government should be finalized here any day...Sadr...did say he wanted to do something about the rate. He absolutely said he wants the exchange rate to change. Keep in mind that's the central bank's move. How much influence does he have over the bank because...they're two separate entities...the government can campaign for the change but they really have no control. We know Sadr wants the rate change to happen. So just give it a chance. Give it some time...
Petra Article: "Economist on the 2022 budget: It will address the fiscal deficit and debts owed by Iraq " ...incredible article...Talk about a potential "strategic" leak this article says MANY things... 1. Quote: "it is expected that next year's budget will reach the limits of 90 billion dinars," Well wait a second...I thought they did all the calculations in "TRILLIONS". I checked the translation...it indeed says "Billions". Has something changed? 2. Quote: "the value of this budget will cover the financial deficit and debts owed by Iraq , in addition to securing the salaries of employees in full." ...This can only happen when the country is "sovereign" and working under Article 8 of the IMF and "FULLY" international...! Folks, these are not Typo's! Their words... and strategically given out...IMO.
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KTFA:
Samson: The Arab Monetary Fund holds an interactive workshop on the Strategic Compatibility between the work of the Buna Platform for Arab Payments and the Road Map developed by The Group of Twenty to promote Cross-Border Payments
10th December, 2021
Experts from the Financial Stability Board, the International Committee on Payment Systems and Financial Infrastructure of the Bank for International Settlements, and MasterCard International will speak at the workshop.
The workshop will host more than 200 participants from representatives of central banks, regional and global financial and banking institutions
Today, Thursday, December 9, 2021, the Arab Monetary Fund will hold a "remote" workshop that will review the strategic importance of the road map developed by the Group of Twenty to enhance cross-border payments, and highlight the effective contribution of the "Buna Platform for Arab Payments" to the international efforts exerted in This area, and its success in forming a model that reflects the main directions of the G20 roadmap in the field of cross-border payments.
In the workshop, a number of senior managers from the Financial Stability Board, the International Committee on Payment Systems and Financial Infrastructure of the Bank for International Settlements, and the global company “MasterCard” will talk about the pivotal role of the G20 roadmap in drawing a guiding framework for the development of cross-border payments activities at the global level. international level, in addition to the progress made in achieving the goals of the Road Map.
The speakers also highlight the success of the Buna platform for Arab payments in keeping pace with the goals set for the roadmap set by the Group of Twenty to bring the cross-border payments sector to a high level of effectiveness, trust, transparency and spread.
This success is a mirror of the strategic approach adopted by the Arab payments platform "Buna", whether in terms of its keenness to provide innovative solutions in the field of payments and the emphasis on the highest levels of compliance with sound international standards and practices and to ensure integrity and efficiency, or in terms of its effective cooperation with a wide range of payment systems and companies regional and global.
More than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad will participate in the workshop, to learn about these important and vital topics and follow up on the development of the business of the Buna platform and its future plans.
On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunna Platform for Arab Payments), said: “As an integrated system specialized in providing cross-border payments services, the Buna platform for Arab payments is an ideal application of the directions of the G20 roadmap in the field of Also, Buna actively contributes to the efforts of the Financial Stability Board and the International Committee on Payment Systems and Financial Infrastructure of the Bank for International Settlements, which aim to improve the quality and reach of cross-border payments, as a result of its ability to provide inter-currency payments services. Quickly, safely, cost-effectively and highly-effectively.
Added blocker: "Our success in achieving interoperability with regional and global payment systems and other international actors in the payments sector is clear evidence of Buna's ability to respond effectively to the G20's call for cooperation among all international actors to increase the efficiency and effectiveness of cross-border payment services."
Manea added : "Our cooperation with MasterCard constitutes a major achievement in the framework of the implementation of "Buna" for its strategic plan aimed at contributing to supporting the growth of Arab economies, in addition to developing inter-trade and strengthening investment links between Arab countries and with trading partners around the world.
The partnership aims to enable institutions participating in the “MasterCard” and “Bunna” networks to send and receive payments through their system efficiently, in a strategic step that is in line with the guidelines of the G20 roadmap in terms of stimulating the interconnection between payment service providers.”
It is worth noting that the "Buna" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner.
Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements.
"Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects. LINK
Basel III - The Elephant in the Room - Unprecedented Impact for Gold and Silver
Kinesis Money: Dec 10, 2021
With Basel III implementation just weeks away, Andrew Maguire looks ahead to the historic impact of unallocated position limit restrictions on the suppression of the gold and silver price.
The precious metals expert demystifies a turbulent few weeks in the markets and offers his prediction for gold and silver as the year draws to a close, and we head into a post-Basel III 2020.
TNT:
Mot: The Legend of the Christmas Spider !!!!...........................