“Tidbits From TNT” Sunday Morning 10-27-2024

TNT:

Tishwash:  Rafidain Bank announces the implementation of the comprehensive banking system in 46 branches in Baghdad and the governorates

 Rafidain Bank announced today, Sunday, the implementation of the comprehensive banking system in 46 branches in Baghdad and the governorates  link

Tishwash:  The regional government to its employees: Whoever does not have a biometric code will have his salary stopped by the federal finances

The Ministry of Finance and Economy in the Kurdistan Regional Government called on Sunday on employees and workers in the public sector to rush to register in the biometric system before the twentieth of next November, warning them that the Federal Ministry of Finance will stop the salary of anyone who does not have a biometric code.

The ministry said in a statement today that based on the agreements and understandings concluded between the Ministry of Finance and Economy in the Kurdistan Region and the Ministry of Finance in the federal government regarding the issue of resolving technical problems related to the payroll of Kurdistan Regional Government employees, the following must be done:

First: All employees, retirees, people with special needs, and heirs of martyrs who have not registered themselves in the biometric system must register before the date (11/20/2024).

Second: The decision to register in the biometric system includes all employees and salary recipients who are abroad for various reasons, or on unpaid leave, study, etc.

Third: Every employee or person receiving a salary in the Kurdistan Regional Government who does not have a biometric code until the date (11/20/2024) will have his salary stopped by the Ministry of Finance in the federal government, and he will bear responsibility for that.  link

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Tishwash:  "Hybrid Monetary Policy".. Al-Sudani's Advisor Reveals the Central Bank's New Step

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, explained today, Saturday, precise details about the importance and reasons for the Central Bank of Iraq’s decision to reduce interest.

Saleh told {Euphrates News} that: "It is clear that the monetary policy of the Central Bank of Iraq has become a policy that meets the requirements of growth in real economic activity, through activating its operational objectives aimed at reducing the cost of credit and financing within the joints of the economic system in general and the banking system in particular.

" He explained, "The Central Bank began, through its decision issued in accordance with its circular on October 24, to reduce the monetary policy interest rate (which is the rate at which the Central Bank of Iraq deals with the banking system) by about 200 percentage points

By lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means that the Central Bank of Iraq has become following an expansionary policy in targeting the money supply in a manner that is consistent with activating the real sector in the national economy and confronting unemployment indicators in the overall economy."

According to the statement of the Prime Minister's economic advisor, "Despite the above, the bank in its new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations, by offering debt instruments called Islamic certificates of deposit with a return that increases with the length of the amortization period of those securities purchased by the banking system, which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts."

He continued, "The monetary policy of the Central Bank has given a signal to the financial and banking system that its easy or flexible policy adopted by the bank in moving the liquidity of the economy is under continuous control in order to play the role of the monetary authority in combating inflationary activities and imposing economic stability as its first central goal." 

Saleh concluded by saying, "Between expanding the movement of economic liquidity as an expansionary policy and imposing control over liquidity levels by offering debt instruments in return at the same time in parallel, we can call the current monetary policy of the Central Bank of Iraq a {hybrid flexible monetary policy}."

The bank decided to reduce the interest rate from 7.5% to 5.5%, in addition to reactivating the securities (Islamic certificate of deposit and money transfers) according to an annual plan and with two terms: with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days.   link

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Tishwash:  Despite the Israeli attack, the Iranian toman recovers against the US dollar

Today, Saturday (October 26, 2024), the Iranian toman recorded a remarkable recovery against the US dollar on the main Tehran Stock Exchange.

Baghdad Today correspondent said that the toman price today in Tehran's main stock exchange was recorded at 6 million and 500 thousand tomans for every 100 US dollars.

He added that this price is considered a significant change towards recovery after it recorded 6 million and 800 thousand tomans for every 100 US dollars yesterday.

Israel launched a series of airstrikes on Iran early Saturday morning, and explosions were heard in the Iranian capital, Tehran, although there was no information about any damage or injuries.

Four hours after the start of the operation, which Israel called "Days of Response," the Israeli army announced that it had completed the attack on military targets in Iran, that all of its aircraft that carried out the attack on Iran had returned safely to their bases, and that the operation had achieved all of its goals.

Israeli military spokesman Daniel Hagari said the attack was carried out under the direction of the political echelon in response to the Iranian regime's attacks against Israel and its citizens.

A senior US official said that the Israeli response to Iran has ended, and asked Tehran not to respond or escalate, stressing that if Iran decided to respond, "we will be fully prepared to defend Israel again and there will be dire consequences."

He added that this should be the end of the exchange of direct strikes between Israel and Iran.

The Israeli attack began shortly before 2 a.m. on Tehran, and shortly thereafter Israeli military spokesman Daniel Hagari announced the start of a precise and targeted attack on Iran.

Later, Israeli media reported a second wave of Israeli attacks against Iran, targeting sites, some of which were in Shiraz. Then, the American website Axios quoted Israeli and American officials as saying that Israel targeted Iran with three waves of strikes, and that the first waves of those Israeli strikes targeted Iran’s air defense system.

After about 4 hours, the Israeli Broadcasting Authority confirmed the end of the Israeli attack on Iran, in which hundreds of fighter jets participated. The New York Times also quoted Israeli officials as saying that the attack on Iran ended after striking about 20 sites.  link

Mot: A piece of the action

Mot:  Soooooo -Watts Ur Critters Name!! – hmmmmm