Zig’s Place Chat and News Monday AM 4-19-21
Zig’s Place Chat and News Monday AM 4-19-21
Zig: Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here
Butterfly Al-Rafidain Bank announced the disbursement of a new batch of employees' advances and employees of the Ministry of the Interior.
The bank’s media office said: “The advances are submitted through the branches designated for grants that have been identified in Baghdad and the provinces.”
butterfly The Minister of Labor and Social Affairs, Adel stapes, care for people with body disabilities and special needs to provide the names covered audited less accumulated the subject of the new inclusion in the light of allocations allocated to the body in the budget of 2021.
Rikabi, while chairing a meeting of the Commission for People with Disabilities in the presence of Chairman of the Board And officials of the departments of finance and information technology in the authority, that "the allocations allocated to the body in the budget is less than what was agreed upon with the Finance Committee in Parliament and approved in the draft budget."
He stressed "the need to work according to the allocated allocation with a transfer of an amount from the Social Protection Authority to implement the obligations towards people with disabilities and to settle the accumulated issue for the years 2016, 2017 and 2018, in addition to conducting an evaluation of the directors of the authority’s departments in the governorates on the basis of competence, integrity and sincerity in work."
Al-Rikabi also instructed “to check the data of previous applicants for inclusion of those who completed the medical examination procedures and were issued with MasterCard cards, in preparation for their inclusion in the full-time appointee’s salary according to what was allocated for the authority.”
butterfly The Ministry of Finance has circulated, to all ministries and state departments, instructions for implementing the state's general budget 2021, and instructions for implementing the planning budget for public companies and self-financed bodies and departments for the year 2021 to work accordingly.
butterfly The Secretary-General of the Council of Ministers, Hamid Naeem Al-Ghazi, discussed with the Chinese Ambassador Zhang Tao the procedures for Chinese companies to start establishing (1000) schools throughout the provinces.
A statement by the General Secretariat of the Council of Ministers stated that the Iraqi National News Agency / NINA, for ), said, "Al-Ghazi confirmed during his meeting with the Chinese ambassador in Baghdad, Zhang Tao, that the Iraqi government is moving towards a true partnership with China to contribute to the Iraqi reconstruction campaign, because of its good reputation and speed." Achievement and modern technology, stressing the need for the bids submitted to be acceptable and appropriate from a technical and financial point of view, and to be delivered to the Iraqi side as soon as possible.
his part, said that the Chinese companies are showing wide interest in this vital project, and that the embassy has assigned the Commercial Attaché to communicate with the relevant authorities in the General Secretariat of the Council of Ministers, and that the implementing companies will submit their offers. And its final bids within the next week
butterfly The exchange rate of the dollar rose in the local market on Monday.
The central Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 148,100 thousand dinars for every 100 dollars.
The selling and buying prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 148,750 thousand dinars, and the purchase price reached 147,750 thousand dinars per 100 dollars.
butterfly The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, inaugurated the new headquarters of the Iraqi Company for Deposit Insurance.
During the inauguration, the governor said, "The company will contribute to restoring confidence in the private banks operating in Iraq, stressing that the central bank will pay attention to this company as it is one of the pillars of the banking business.
" One of the pioneering institutions that support and support banking in banking .
butterfly The Parliamentary Finance Committee announced that it will adopt the approval of the budgets of the governorates and direct contact with the governors to approve the required allocations.
butterfly Deputy Speaker of Parliament, Hassan Karim Al-Kaabi, confirmed that the projects that will be implemented in the governorates have been secured their legal cover in budget legislation and we will proceed with their implementation as soon as the provincial plans are approved by the Ministries of Planning and Finance.
butterfly Mastercard in strategic partnership with Central Bank of Iraq
BAGHDAD, Mastercard has signed a partnership agreement with the Central Bank of Iraq (CBI) to digitise the country’s payment ecosystem.
This is intended to boost financial inclusion, encourage socio-economic development, mitigate the risks of a shadow economy and accelerate the advancement toward a cashless society.
The partnership first aims to build an efficient, reliable, and secure payment ecosystem, starting with the education sector, and expanding into other sectors. This will not only reduce the use of cash, promote the use of digital payments, and increase government revenues, but will also minimise sizeable operational and administrative inefficiencies in the education industry by reducing the overly manual processes.
Iraq’s population of 40 million people is largely cash-driven, with 99.8% of its $122 billion personal consumption expenditure made in cash in 20191. Despite that however, there is a large potential for digitisation, as the country has a 70% smartphone penetration rate and 222% of the population fall within the young and tech savvy 15-24 years old age bracket.
butterfly Furthermore, there is often very little choice in payment methods offered to parents and guardians with most students managing all their payments in cash. With neither parents nor students having bank accounts or using online payment services, it is critical to encourage a change in the way consumers pay school fees, since it can cause a ripple effect by impacting the entire payment ecosystem and economy.
Duha Abdul Kareem Mohammed, Director General for Payments Department at the Central Bank of Iraq, said: "The work that Mastercard has done in Iraq over the last few years has made a notable impact on the country’s financial service’s sector and driven greater levels of financial inclusion.
At the Central Bank of Iraq, we clearly recognise that the digital economy has a vital role to play in that journey, especially in enabling formal economic growth through a new payment ecosystem that is transparent, simple, and effective. We are very much looking forward to working with Mastercard to advance Iraq’s digital transformation, beginning with the education sector.”
Khalid Elgibali, Division President Mena, Mastercard, said: “Creating a digital payment ecosystem is critical, not only because it encourages economic development, but because there is also a demonstrable, negative relationship between cash use and the shadow economy. Our work with the Central Bank of Iraq will focus on improving overall efficiencies the economy, starting with the educational institutions by giving parents, students, and merchants a much safer, simpler, and more convenient way to pay. This is only the start however, and we look forward to expanding into other sectors at a later stage, as we work to advance the full payment ecosystem and achieve financial inclusion in Iraq.”
butterfly The Mastercard partnership with CBI is a starting point that will allow for the development of a full digital ecosystem in Iraq, which will cover key pillars including the use of Public Policy and Regulation to curb the shadow economy, a wholesale modernisation of the payment ecosystem, and the digitisation of key value chains. Those include government collections and disbursement and peer-to-peer and consumer spending, as well as business purchases and salary payments.-- Tradearabia News Service
butterfly 2021-04-19 07:22 Shafaq News/ The Prime Minister's advisor for Financial and Economic Affairs, Dr. Mudhir Salih, warned of the detrimental consequences of fluctuating the exchange rate of the Iraqi dinar.
Dr. Salih said in a statement to Shafaq News Agency, "floating is applicable in the economies that the market is the generator of the supply and demand, and the state only interferes with maintaining the equilibrium."
"However, in Iraq, if the government pulls away its hand, the supply no longer exists, and the market collapses," he said.
"The dilemma in Iraq is that the market demands and the state supplies. If the Central Bank [of Iraq-CBI] withholds selling the dollars, the whole supply is halted. There will be no other source of supply. If it existed, it is not sufficient to cover the demand."
A floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to foreign exchange market events. A currency that uses a floating exchange rate is known as a floating currency, in contrast to a fixed currency, the value of which is instead specified in terms of material goods, another currency, or a set of currencies (the idea of the last being to reduce currency fluctuations).
butterfly So what say all of you floaters?
butterfly 2021-04-19 05:05 Shafaq News/ The Central Bank of Iraq sales of Foreign currency jumped on Monday by 6.41%.
Shafaq News Agency correspondent said that the CBI sales at the Foreign currency auction increased by 6.41% to reach $209,454,659 at a cut-off price of 1460 dinars, compared to 196,842,000 dollars on Sunday.
Our correspondent explained that 16 banks, 20 banking companies, 226 brokering companies cashed $22.18 million, while $187,274,659 went to boost funds abroad in the form of transfers and credits, with 31 banks meeting those requests.
butterfly 2021-04-19 07:54 Shafaq News/ The Federal Supreme Court tabled the hearings of dissolving the provincial councils' appeals; a source told Shafaq News Agency.
The source said that the Federal Supreme Court postponed the hearings to May 4, after it was scheduled for today, Monday.
Many MPs demanded reconsidering the decree stipulating the dissolution of the provincial councils. MP Mazen el-Fayli said in a statement to Shafaq News Agency on Saturday that the decision was taken under popular pressure and resulted in a "financial mess".
Butterfly 2021-04-19 06:39
Shafaq News/ The Federal Commission of Integrity said that it issued a total of 58 arrest warrants and subpoenas for government officials over several cases it investigated and referred to the Judiciary.
The Commission highlighted in a press release today, Monday, the issuance of right arrest warrants and 50 subpoenas in March, indicating that the bench orders addressed to MPs (incumbent and former), a former Minister, and a former Deputy Minister.
The list also included two governors (incumbent and former), 25 Director-Generals (incumbent and former), two Deputy Commissioners, and 22 Provincial Council members.
According to the Commission, Fourteen addressees are out on bail, seven are fugitives, one was released under investigation, one was referred to the Judiciary, and one was included in the amnesty order.
The Commission, in February, said it issued 82 subpoenas and arrest warrants against Ministers (or equivalent) and 624 against Director-Generals and superior grades.
Butterfly 2021-04-19 11:40 Shafaq News/ Oil prices were little changed on Monday, supported by a weaker U.S. dollar but pressured by concerns about the impact on demand from rising coronavirus cases in India and other countries.
Brent crude was down 4 cents, at $66.73 a barrel by 11:06 AM ET (1506 GMT), after rising 6% last week. West Texas Intermediate (WTI) U.S. oil was up 3 cents at $63.16 a barrel, having gained 6.4% last week.
The U.S. dollar traded at a six-week low versus major peers on Monday, with Treasury yields hovering near their weakest in five weeks. [nL1N2MC0ZL]
With oil priced in dollars, a softer greenback could spur demand from holders of other currencies.
"If today's broad-based weakness in the US dollar is sustained, the energy complex should be able to maintain the bulk of last week’s gains," said Jim Ritterbusch, president of Ritterbusch and Associates.
"The primary hazard to continued oil price strength is the possible pre-emergence of Covid-19 case counts on a broad scale"
India reported a record rise in infections, which lifted overall cases to just over 15 million, making the country the second-worst affected after the United States, which has reported more than 31 million infections.
Deaths from COVID-19 in India also rose by a record 1,619 to nearly 180,000. The capital region of Delhi ordered a six-day lockdown, joining around 13 other states across India that have decided to impose restrictions, curfews or lockdowns in their cities.
"This new wave of measures, while so far likely to be less stringent than what we saw in March 2020, when gasoline and gasoil/diesel demand in the country fell by close to 60%, is nevertheless set to weigh on transportation fuel consumption," consultancy JBC said.
butterfly Hong Kong will suspend flights from India, Pakistan and the Philippines from April 20 due to imported coronavirus infections, authorities said on Sunday.
Lending some support, Saudi Arabia's crude oil exports fell in February to their lowest in eight months, the Joint Organisations Data Initiative (JODI) said on Monday, as the world's biggest oil exporter voluntarily capped output to support oil prices.
JP Morgan now expects Brent prices to break the $70 mark by May, compared with September in its previous forecast, the bank said in a recent note. It still expects them to finish the year at a similar level of about $74.
butterfly The Ministry of Finance and Economy of the Kurdistan Regional Government, in a letter it sent to the Ministry of Finance of the Federal Government, expressed its agreement to implement all financial obligations for the region within the framework of the Iraqi general budget for 2021.
The Ministry of Finance in the Kurdistan Regional Government indicated, during a statement to it, that the government had started the practical steps. about this subject.
The Kurdistan region’s share of the general fiscal budget in Iraq for the year 2021 has been determined at 11 trillion and 482 billion and 394 million dinars.
The Kurdistan region’s share of the budget includes 8 trillion and 161 billion dinars in operating expenses, 3 trillion and 271 billion dinars for investment, and 923 billion and 434 million dinars as governing expenditures.
butterfly The governor of Basra, Asaad Al-Eidani, confirmed that the state’s general budgets have not been fair to the province of Basra during the successive years, indicating that Basra will be the best in the cities of the region if the appropriate allocations are available in the budget.
Al-Eidani said, in a statement to the Iraqi National News Agency / NINA /, that none of the governorates has yet been funded from the allocations of the General Budget Law 2021, because the budget was published in the Iraqi facts yesterday, and we are now waiting for instructions, "indicating the need to issue clear instructions from The Ministries of Planning and Finance to move the budget.
He added that "the allocations of Basra governorate in the general budget are below the level of ambition, but approving the budget is an important step to complete projects that have reached advanced stages of implementation," noting that "the budget included the financing of continuing projects and the inclusion of other projects according to the need of the province, as well as granted to the provinces the authority to increase Weakness of the budgets allocated for the inclusion of new projects according to urgent need.
Regarding Basra's preparations to host the Arab Gulf Cup, Al-Eidani stressed that Basra is technically and serviceally ready to organize the Gulf Cup, indicating that the Gulf technical delegation expressed its satisfaction with the local preparations and preparations, and currently we are waiting after 9 days.
NORV butterfly That means nothing regarding floating...Saleh is just stating that they cannot float while maintaining the currency auctions. We all knew this...the auctions will end when they float.
NORV :Float: :Float: :Float:
Zig NORV : LOL....I knew that anything/anyone/article mentioning a "FLOAT" would bring you running in here to comment @Kap Like a moth drawn to a flame
NORV Zig I came running because I knew people would not understand what Saleh was saying..thinking they cannot float. Floats are how monetary policy works. They will float..they will just have to end the currency auctions first which is part of the process. Iraq is only one a few if that that still use currency auctions. Central banks that are in IMF Article VIII engage with the world banking sytem and float, they also manage their currency by buying/selling blocks of currency. Iraq will also do this when ready.
Frank Any news about the 800 # ? Hello everyone I’m new here I hear the link was send already but I can find it anywhere?
Zig Frank : :Welcome: Curious about whom you are listening to about 800 numbers....
Frank Dinar recaps
Zig Frank : How long have you been in this?
Frank Oh ok thank you
Frank So what is this chat for ?
Doug_W to discuss many things and Dinar news
butterfly Frank that is a good question. You participate or you don't have to participate. Articles are posted to see what is going on in Iraq.
Doug_W most o us have been in this OVER ten years
Zig Frank : You may discuss anything that you wish here....we have members who disagree with what I and NORV and butterfly and Doug_W just wrote....
Zig Frank : Don't be afraid to be in the minority in here....And go against the grain
Zig We do have members who believe in an RV Frank just be yourself in here....
NORV Frank If you bought dinar looking for overnight riches, sell it now and move on. There is no RV. Not how monetary policy works. If the dinar is every going to appreciate in value it will as a result of Iraq building a successful economy. That takes time.
Zig NORV : Thanks for that explanation....just hope I will live to see a profit with this....LOL
NORV need edit tools :Angry:
butterfly Frank IF or WHEN there is a monetary value to you............it will be international news.
Zig NORV : Take proofreading lessons from Doug_W
EYEGUY Im ready whenever
NORV Zig my brain gets ahead of my hands!
EYEGUY Hope Im still alive to enjoy it
Zig I know exactly how you feel Frank and you are not alone...far from it...thousands like you...I was one...you get in this and listen to those people who tell you a bunch of BS....then you happen to wander into a room like this and don't like what you are reading....So you leave and go back to where you were and tell people about this room, and they laugh saying that "oh those people are just negative and don't know what they are talking about".....etc....Been there done that....
Zig Again...this room is not only for ONE view, ONE opinion, etc...it can accommodate all views....we do have people who think the Dinar will RV soon....a few who think it will eventually float....one who thinks the whole thing is a scam....not mentioning @Sam by name....LOL....oh wait I forgot that @wdave1 is also back....lol....so nobody is kicked out for any opinion, following Gurus, etc....but if you are looking for a room where everyone agrees about everything you have found the wrong place....
Zig Can you imagine how active/busy this room would be if we ALL believed the Gurus and mainly discussed the 800 numbers, when the RV would be released, etc....it would be unbelievable....that is what the vast majority are looking for and that is how it has always been....that is why forums like Frank26 are so full of people....and why his videos get over 10,000 views...
Zig I doubt if Frank will ever return...Not Frank26....lol....the guy who was here earlier....
Zig If you access this chat via https://my.cbox.ws/ZIGPLACE You can make the box much bigger by clicking this link ZIGPLACE - Cbox