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Ross: One of the most potentially far-reaching trends in the financial landscape right now is the imminent roll-out of Central Bank Digital Currencies (CBDCs). CBDCs will be issued by central banks and will be legal tender.

Many CBDCs that are being researched and developed employ Distributed Ledger Technology (DLT), with the recording of transactions on a blockchain. CBDCs will be tied to user identities and Digital IDs, and straight off the bat they allow for total surveillance by the State. Agustín Carstens general manager of the BIS, where he chillingly said: “We don’t know who’s using a $100 bill today and we don’t know who’s using a 1,000 peso bill today. (Implying they would in the future)

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MilitiaMan: Adviser to the Prime Minister sets the conditions for re-exchange of the dollar to the previous rate

09/26/2021 16:01:15

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, set the conditions for reconsidering the exchange rate of the dollar against the dinar and returning it to the previous rate.

Saleh told {Euphrates News} that "restoring the dollar exchange rate to its previous era requires a number of things and a period of time," stressing "the country's foreign currency reserves must be stabilized by addressing the budget deficit as well as improving the economy."

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Samson: A British company pleads guilty to charges of bribery in oil projects in Iraq

25th September, 2021

British oil services group Petrofac said it would plead guilty to seven counts of bribery to secure projects in Iraq, Saudi Arabia and the United Arab Emirates between 2012 and 2015, describing it as a "very unfortunate period", which raised its shares by 25%

The company indicated its plans in London's Westminster Magistrates Court after it was formally indicted by the UK's Serious Fraud Office (SFO), drawing the line for a four-year criminal investigation

Petrofac said offers or payments to agents to help secure projects took place between 2011 and 2017 but all employees involved left the company

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Samson: The Turkish lira plunges to the lowest level in history

23rd September, 2021

The exchange rate of the Turkish lira fell against the dollar, today, Thursday, after the Turkish Central Bank decided to reduce interest rates.

According to Bloomberg website data, by 15:10 Moscow time, the price of the dollar row rose by 1.07% to 8.74 liras per dollar, and before that the Turkish currency recorded 8.8017 liras per dollar, the lowest level ever.

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MilitiaMan: This is a surprise.. Didn't they talk about the possibility of surprises? Yep.. Sounds to me like they have a view that the decision from the court that is expected on the 23rd may have good news. imo.. ~ MM

Samson: For the first time since 2019, there is talk of a “no deficit” financial surplus in Iraq

20th September, 2021

The Parliamentary Finance Committee announced, on Monday, that the salaries of employees will be secured for the current year, while it indicated that there is a surplus in the current budget.

This is the first time that a competent executive or legislative body has talked about the existence of a financial abundance, not a budget deficit.

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MilitiaMan: Iraq's position in the Fintech Industry Index FinxAr: LINK

In the wake of three industrial revolutions that the world witnessed, our world today lives in the era of the fourth industrial and technological revolution, which is based on unprecedented developments in the field of communications, information networks, digital technologies, big data, currencies, digital wallets, digitization of accounts, payments, chain of large data, the use of digital identity and electronic signature...etc.

Accordingly, the search for and application of these technologies in the implementation of transactions and how to use them has become not an intellectual luxury as much as it is an inevitable necessity imposed by the developments of the technological revolution.

Modern financial technologies Fintech are products and services that rely on modern technology to improve the quality of traditional financial operations or have an impact on financial institutions, including electronic payment applications, virtual currencies, digital identity, electronic signature and eKYC model. in the lives of societies and individuals.

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Samson: Expert: The next government can achieve an unprecedented economic achievement.. How?

19th September, 2021

The economic expert, Safwan Qusay, expected, on Sunday, that the next government will rely on the available financial liquidity without resorting to internal and external borrowing, indicating that this step is the most important achievement for it

Qusay said, "The current government has raised the price of the dollar significantly, which has increased financial liquidity due to the contraction of salaries and other expenses

He added, "After forming the government and presenting the new budget, the government can play a proactive and reformist step that will be historic by preventing internal and external borrowing in any way