Zig’s Place Chatroom News & Chatter Tuesday Afternoon 5-23-23

NORV   So I have always stated with the success of Iraq's economy will come the increase of the dinar. Below is some interesting news...

NORV   The Social Security Law includes many privileges for workers in the private sector

2023-05-18 | Many privileges are included in the Social Security Law, which was voted on by Parliament, while MPs called for the need to educate workers on the importance of registering on social security, as it will reduce the momentum on the public sector.

Fifty years later, the Social Security and Retirement Law for Workers is reborn in Parliament with privileges somewhat similar to the privileges of the public sector represented by health insurance and pensions. The law also includes deterrent penalties for companies that did not register their workers with insurance.

Sixty-three years is the upper limit of the retirement age and with a remunerative service of not less than fifteen years as a minimum. On the other hand, deputies see the need to educate workers by registering on the guarantee, as it will reduce the momentum on the public sector.

NORV   This law was passed last weekend with will no allow citizens to work in the private sector without losing losing privileges such as health insurance and pensions. This is criticle to get people off the government payroll and working for the private sector which has been stated already will not only diversify Iraq's economy but rebuild the country.

Zig   Interesting...thanks, Kap....NORV is Kaperoni....follow him https://twitter.com/kaperoni

NORV   Not done lol

NORV   Retirement: The insurance law will provide a salary for more than two million workers in the private sector

May 21 14:17  Information / Baghdad.. The Director General of Retirement and Social Security, Kholoud Hiran, revealed on Sunday the most important advantages of the Social Security and Retirement Law for workers, indicating that the law will provide a pension for more than two million workers during the first years of its implementation.

In an interview with Al-Maalouma Agency, Hiran said, "The government will contribute significantly to paying the salaries of retired workers in the private sector."

She added that "retirement and social security are among the most important legitimate laws, as it will provide the opportunity to grant pensions to about two million Iraqi employers in the private sector."

She pointed out that "the law will include all workers in the private sector, including women," explaining that "the retirement and social security law is one of the most important newly enacted laws, and it has many advantages that make workers compete over the law."

And the Parliamentary Action Committee revealed, earlier, a plan to include about four million insured workers under the Social Security Law. ended 25 h

NORV   They plan to launch this law in August. Which in essence means they will launch the private sector at that time. This is big news

Zig   Float time soon??....lol

NORV   So we can expect significant changes come August to Iraq's economy coming yet this year.

NORV   As for they floating, I have always said the float will come as a result of economic growth.

NORV   Another key point is Iraq is passing the budget for 3 years (not one like usual) next week.

NORV   This will stabilize the economy for 3 years during the implementation and growth of the economy.

NORV   And lastly, the new CBI building will be completed in 2024.

UNEEK   NORV thanks Kap/NORV

Zig   Could be an interesting 12-18 months for this investment

NORV   The Central bank is also launching an initiative for the private sector

NORV   And finally, here is the CBI stating...By 2025, a qualitative leap in performance awaits the Central Bank

NORV   https://alsabaah.iq/76988-.html

NORV    So the next couple of years should be very interesting  :)

NORV   Zig yes! I agree!

NORV   the next 12-24 months will be exciting to watch

Zig   : OMYGD: Kap agrees with me about something   :Thud: lol

NORV   Seems they are timing the economy, the banking sector, the opening of the CBI all at the same time.

NORV   As for banking, the recent announcement also of removing dollars from the streets of Iraq and making citizens use dinar is a criticle point also to stabilize and create momentum for the dinar.

Professor dinard   Go Iraq!

NORV   Central Bank: Dealing in Iraqi dinars will extend to the private sector

Central Bank of Iraq   April 19, 2023 12:36 PM   Mubasher: The Central Bank of Iraq confirmed, yesterday, Tuesday, that the reform package is a major shift for the organized economy, while indicating that dealing in the Iraqi dinar will extend to the private sector.

The bank's advisor, Ihsan Shamran, told the Iraqi News Agency, "INA": "The government supported the reform package launched by the Central Bank," indicating, "There is great harmony between the financial authority and the government."

He added, "Countries whose legal systems are good have an excellent economy because they do not deal in dollars," noting that "companies and government institutions responded, including Iraqi Airways, by relying on the strength of the Iraqi dinar, regardless of the exchange rate."

And he continued, "The public began to deal in the Iraqi dinar as a national currency," explaining, "This will extend to the private sector, including car showrooms, and at a close stage, the furniture and electrical dealer will not need the dollar."

And he stated, "This is considered a real step and a big shift for the organized economy," explaining, "The real value of the dinar that exists now is more than one and a half dinars, because the bank's reserves are very high and therefore the national currency cover is high."

NORV     LINK

Zig   NORV : Thanks again, Kap...oh you're not done....lol

Zig   https://twitter.com/kaperoni

Professor dinard   How’s Iraq doing nowadays NORV

Zig   NORV "Countries whose legal systems are good have an excellent economy because they do not deal in dollars," ..........Wow

NORV   They are putting the pieces in place for the economy to grow, the dinar to rise and Iraq to stand up and be a player in the middle east. The CBI building coming in 2024 will also show the world Iraq is ready and I would expect the dinar will not remain weak.

Professor dinard   the US dollar went the way of the baby boomer

Zig   Professor dinard : Getting interesting in Iraq but who knows....keep your day job....lol

NORV   Zig Its a process

NORV   time will tell if Iraq succeeds

Zig   NORV :   :Happier:

NORV   but with the help of the IMF and World Bank, it looks good

Professor dinard   maybe they’ll come out on top after WW3 with all their oil supplying the war efforts

Zig   Professor dinard : If there is a WW3 you can kiss the earth goodbye

Professor dinard   Zig i think it’s the closest we’ve been since the Cuban missile crisis

NORV   If I am correct, which I am. lol My latest book will come out in 2025 describing the success of the dinar.    :Floating:

Professor dinard   reminds me of the days before WW2

Zig   NORV : Well you have been correct so far....lol

Professor dinard   China is the new Japan Russia is the new Germany

NORV   You should really all be members at DA..we have some good discussions on all these articles, and latest documents. But then again..i come here and share also.

NORV   have fun day. I am off to bet college baseball   :Bye:   :$$$:

Zig  NORV : Well you have to donate which most people won't do IMO

Professor dinard   I’m zig chat loyal to the soil

Zig   NORV (Kaperoni) mainly is at https://dinaralert.webs.com/ where a monthly donation is required to access the forum threads....I have no idea what the minimum is to do so....

Zig   To be clear: I have no problem with anyone making money from providing a website, etc....

Zig   NORV : Betting on college baseball??....how can you possibly know enough about that to bet on it??.....lol

Zig   :Nice day: Busiest this room has been in a year.... :Laughing:

NORV   Zig i know plenty about college ball  :)

Zig   NORV : Who follows college baseball??....lol

NORV   Oh and one more thing..Iraq has stated that when they implement the social security law, up to 4 million citizens will move from the gov to the private sector. That is a huge number of people!

Zig   I have a hard enough time following the pros

Zig   NORV : Wow

NORV   College ball is good money :Joyous: :$$$:

Zig   4 million people is about 10% of their population

NORV   That is why I believe we should see momentum with the dinar.

NORV   This is just a guess of course, but by 2025 the dinar may very well be worth .50 cents or more.

NORV   maybe even close to a dollar.

NORV   time will tell

Zig   : OMYGD: that's all I need....lol

Zig   Careful with those predictions or you will attain Guru status.....LOL

Zig   Breaking News: Kaperoni predicts the Dinar will hit 1 dollar by 2025!!!.....LOL

NORV   lol     :Headscratch:

Zig   Frank's special guest on his next video: KAPERONI.....LOL

Zig   Okay...see ya later

Sah   Thank you Kap for the great posts. Right on!

 

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